SPX TechnologiesSPXC +3.09%91 Operating Margin % is 15.51% as of Mar. 2026, which is 78% above its 10-year median of 8.73. GuruFocus rates SPXC with a GF Score™ of 91/100 and a GF Value™ of $177.95 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 1,767 Construction companies, SPX Technologies ranks better than 85.51% on this metric.
Just like Gross Margin %, it is important to see a company maintains its operating margin over time. Among the same industry, a company with higher operating margin is more efficient in its operation. It is also more stable during industry slowdown or recessions. Peter Lynch prefers those with higher margins than those with lower margins.
Be Aware
Operating Margin % can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).
If a company is facing competition, its Operating Margin % may decline. Often the Operating Margin % declines well before the company's Revenue or even profit decline. Therefore, Operating Margin % is a very important indicator of whether the company is facing problems.
For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokias Operating Margin % had already been in decline since 2002, although its Earnings per Share (Diluted) were still rising. Investors who paid attention to Operating Margin % would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).
Therefore, Operating Margin % is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.
SPX Technologies Operating Margin % Related Terms
SPX Technologies Operating Margin % Historical Data
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The historical data trend for SPX Technologies's Operating Margin % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
SPXC vs WMS, AAON, OC: Operating Margin % Comparison
For the Building Products & Equipment subindustry, SPX Technologies's Operating Margin %, along with its competitors' market caps and Operating Margin % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
SPX Technologies Operating Margin % vs Construction Industry
For the Construction industry and Industrials sector, SPX Technologies's Operating Margin % distribution charts can be found below:
* The bar in red indicates where SPX Technologies's Operating Margin % falls into.
Operating Margin % - also known as operating income margin, operating profit margin and return on sales (ROS) - is the ratio of Operating Income divided by net sales or Revenue, usually presented in percent.
SPX Technologies's Operating Margin % for the fiscal year that ended in Dec. 2025 is calculated as
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
SPX Technologies (SPXC) has a Operating Margin % of 15.51% as of Mar. 2026. Operating margin is the ratio of total operating income to net sales. View historical data on SPX Technologies and its competitors. This is 78% above median its historical median of 8.73. Over the past decade, SPX Technologies' Operating Margin % has ranged from 3.68 to 15.89. According to the industry distribution chart, SPX Technologies ranks #256 out of 1767 companies in the Construction industry, placing it in the top 14.5%.
Is SPX Technologies' Operating Margin % too high?
SPX Technologies' current Operating Margin % of 15.51% is 78% above median its 10-year median of 8.73. Over the past 10 years, this metric has ranged from a low of 3.68 to a high of 15.89. The Construction industry median Operating Margin % is 5.89. SPX Technologies' value of 15.51% is 163.3% above this industry median. Based on the distribution chart, SPX Technologies ranks #256 out of 1767 companies in the Construction industry, which is in the top quartile — a strong position relative to peers. Overall, SPX Technologies has a GF Score™ of 91/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does SPX Technologies' Operating Margin % compare to WMS and AAON?
According to the Construction industry distribution chart, SPX Technologies ranks #256 out of 1767 companies for Operating Margin %. This places SPX Technologies in the top 15% of its industry — outperforming the majority of peers. The industry median Operating Margin % is 5.89. SPX Technologies' value of 15.51% is 163.3% above this benchmark. Historically, SPX Technologies' own Operating Margin % has ranged from 3.68 to 15.89 over the past decade. While the company's 10-year median is 8.73 vs. the industry median of 5.89, SPX Technologies has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Margin % for a Construction company?
The median Operating Margin % among Construction companies is 5.89, based on 1,767 companies in the industry. Companies in the top quartile (top 25%) have a Operating Margin % significantly above this median, while those in the bottom quartile fall well below. However, Operating Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. SPX Technologies's current Operating Margin % of 15.51% is 163.3% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Margin % mean?
A high Operating Margin % can signal that a stock is expensive relative to its fundamentals. Operating margin is the ratio of total operating income to net sales. View historical data on SPX Technologies and its competitors. For the Construction industry, the median Operating Margin % is 5.89 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. SPX Technologies's current Operating Margin % is 15.51%, which is 78% above median its own 10-year median of 8.73. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is SPX Technologies stock overvalued right now?
Based on GuruFocus' analysis, SPX Technologies (SPXC) is currently considered Significantly Overvalued. The stock's GF Value™ is $177.95, compared to a current price of $244.56 — trading 37.4% above its estimated fair value. The current Operating Margin % is 15.51%, which is 78% above median its 10-year median of 8.73 and 163.3% above the Construction industry median of 5.89. SPX Technologies' overall GF Score™ is 91/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Margin % calculated?
Operating Margin % is calculated from a company's financial statements. For SPX Technologies (SPXC), the current Operating Margin % is 15.51% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is SPX Technologies (SPXC) Overvalued in 2026?
Based on GuruFocus' analysis, SPX Technologies stock appears to be overvalued.
The current stock price of $244.56 is trading 37.4% above its estimated GF Value™ of $177.95.
GuruFocus considers SPX Technologies to be Significantly Overvalued.
Key valuation signals for SPXC:
Operating Margin %: 15.51% (78% above median its 10-year median of 8.73)
GF Value™: $177.95 vs. price of $244.56 (37.4% above fair value)
Industry Position: 163.3% above the Construction median (#256 of 1767)
No single metric tells the full story. See the SPXC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
SPX Technologies Inc supplies engineered heating, ventilation, and air conditioning, or HVAC, products, as well as detection and measurement technologies and power equipment. The company operates through two reportable segments. The HVAC segment which generates the majority of the revenue for the company, designs, manufactures, installs, and services cooling products, as well as heating and ventilation products. The Detection and Measurement technologies segment designs, manufactures, and installs underground pipe and cable locators and inspection equipment, bus-fare collection systems, and others. Geographically, the company has its operations in the United States, Canada, China, the United Kingdom, and Others. It derives maximum revenue from United States.
91GF Score
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