SPX Technologies Inc. (SPXC) — RQD Stock Rating Cockpit

Per the Roarable RQD rating, SPXC scores 56 out of 100, grading D+ with a verdict label of "Roarable Sell — Weak Fundamentals / Trim." Across its five pillars, the Fundamental Cash Engine scores 14 of 20 (ROIC 10.6%; FCF yield 2.76%), indicating a moderately productive business that does not generate especially rich free cash flow relative to its market value. Whale/13F Flow scores 7 of 20 for institutional accumulation and options positioning, the weakest-but-one pillar, suggesting limited evidence of sponsorship from large institutional holders in the source data. Insider Conviction scores 12 of 20 on SEC Form 4 and Congressional PTR cluster flow, a middling reading. Macro Regime Fit scores 8 of 20 with a beta of 0.96 and sector sensitivity, meaning the stock's market sensitivity is roughly in line with the broad market but the rating assigns limited favorable regime alignment. Forensic Balance Sheet scores 15 of 20 on Altman Z 4.27, Piotroski F 9/9, and Debt/Equity 0.32, the strongest pillar and a genuine balance-sheet strength. For a prospective investor, the upside case rests on balance-sheet durability and cash conversion, while the valuation tradeoff is that a P/E (TTM) of 34.3 and EV/EBITDA of 20 sit well above the FCF yield of 2.76%, so the price already embeds substantial expectations. The rating's composite reading is that fundamentals and institutional/insider signals are not aligned strongly enough to support the stock at current levels.

Per the SEC financials, revenue rose from $1741.2M (FY 2023) to $2265.1M (FY 2025), and net income from $89.9M to $244.0M. Per the market data, gross margin is 40.5%, operating margin 15.5%, and net margin 10.8%, with ROIC of 10.6%. Per the RQD forensic pillar, the Altman Z-Score is 4.27 and the Piotroski F-Score is 9/9. Debt/Equity is 0.32 per the RQD forensic pillar, and debt declined from $1078.2M (FY 2023) to $843.5M (FY 2025) while cash rose to $364.0M.

Per the recent news feed, six SPXC items were captured. Headlines reference a fair-value trim tied to analyst weighing of HVAC growth risks (flagged GREEN/CATALYST), a 17% undervaluation claim alongside raised 2026 guidance (GREEN/CATALYST), and several general market-wire and quote-page items (YELLOW/MARKET WIRE) with no specific fundamental content beyond their headlines. The HVAC growth-risk reference is the only specific risk item named in the feed. Per the Butterfly Supply-Chain Graph, the supply chain is recorded as "NONE," with no butterfly links and no proprietary signals.

• What is the revenue and margin mix across SPX Technologies' product lines, and how much of FY 2025 revenue is tied to the HVAC exposure flagged in the news feed?
• Why are EPS values reported as N/A across all three fiscal periods despite reported net income, and what is the diluted share count?
• What is the FY 2024 and FY 2025 cash balance context for the FY 2023 cash figure, which is listed as N/A?
• Who are the institutional holders and insider transactors behind the Whale/13F and Insider pillar scores, given that the holders and analyst sections are empty?
• What drives the 2026 guidance raise referenced in the news feed, and how does it reconcile with the 34.3 trailing P/E?