Powell Industries, Inc.
- Open
- 233.61
- Day high
- 234.98
- Day low
- 229.44
- Prev close
- 236.58
- Volume
- 496K
- Mkt cap
- $8.4B
- P/E (TTM)
- 44.9
- EPS (TTM)
- $5.17
- P/B
- 11.9
- P/S
- 7.4
- Yield
- 0.39%
- Per share
- $0.90
- ▼Insiders net selling -$17.7M over the last 3 months (0 open-market buys, 24 sales)
- 🏛Institutions mixed (13F)
Powell Industries, Inc. (POWL) is a Industrials company listed on NASDAQ. The stock is up 233% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 24 sales (SEC Form 4).
Powell Industries, Inc. (POWL) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
POWL earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 5, 2026 | $1.34 | $1.25 | -6.7% | $297M | -0.5% |
| Feb 3, 2026 | $2.85 | $3.40 | +19.3% | $251M | -15.8% |
| Nov 18, 2025 | $3.78 | $4.22 | +11.6% | $298M | +2.2% |
| Feb 6, 2025 | $2.83 | $2.86 | +1.1% | $241M | +3.8% |
| Nov 19, 2024 | $3.55 | $3.77 | +6.2% | $1.0B | +253.4% |
| Jul 30, 2024 | $2.16 | $3.79 | +75.5% | $288M | +0.6% |
| Apr 30, 2024 | $1.78 | $2.75 | +54.5% | $255M | +19.5% |
| Jan 30, 2024 | $0.84 | $1.98 | +135.7% | $194M | +6.6% |
| Dec 5, 2023 | $1.21 | $1.95 | +61.2% | $209M | +6.0% |
| Aug 1, 2023 | $0.66 | $1.52 | +130.3% | $192M | +3.6% |
| May 2, 2023 | $0.21 | $0.70 | +233.3% | $171M | +11.0% |
| Jan 31, 2023 | $0.03 | $0.10 | +300.0% | $127M | +8.7% |
POWL insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 10, 2026 | COPE BRETT ALANdirector, officer: President & CEO | Sell | 4,440 | $241.55 |
| Jul 6, 2026 | COPE BRETT ALANdirector, officer: President & CEO | Sell | 36,000 | $0.01 |
| Jul 1, 2026 | METCALF MICHAEL WILLIAMofficer: Exec Vice President | Sell | 471 | $284.29 |
| Jul 1, 2026 | METCALF MICHAEL WILLIAMofficer: Exec Vice President | Sell | 1,235 | $286.52 |
| Jul 1, 2026 | METCALF MICHAEL WILLIAMofficer: Exec Vice President | Sell | 619 | $281.22 |
| Jul 1, 2026 | METCALF MICHAEL WILLIAMofficer: Exec Vice President | Sell | 697 | $285.66 |
| Jul 1, 2026 | METCALF MICHAEL WILLIAMofficer: Exec Vice President | Sell | 499 | $287.57 |
| Jul 1, 2026 | METCALF MICHAEL WILLIAMofficer: Exec Vice President | Sell | 387 | $282.45 |
| Jul 1, 2026 | METCALF MICHAEL WILLIAMofficer: Exec Vice President | Sell | 405 | $283.34 |
| Jul 1, 2026 | METCALF MICHAEL WILLIAMofficer: Exec Vice President | Sell | 187 | $280.05 |
| Jun 29, 2026 | HOGLUND PETER Gofficer: Vice Pres, Global Service | Tax | 585 | $287.69 |
| Jun 26, 2026 | POWELL THOMAS W10 percent owner | Sell | 33,958 | $294.49 |
| Jun 12, 2026 | COPE BRETT ALANdirector, officer: President & CEO | Sell | 4,440 | $272.64 |
| Jun 1, 2026 | Singh Mohitdirector | Sell | 1,350 | $293.21 |
| May 15, 2026 | Williams Richard Edirector | Sell | 140 | $301.05 |
Source: POWL SEC Form 4 filings, latest Jul 10, 2026. For informational purposes only — not investment advice.
See the full POWL insider & 13F page →Powell Industries, Inc. company profile
Overview
Powell Industries, Inc. (NYSE:POWL) is a Houston-based electrical equipment manufacturer founded in 1947 that has evolved from a regional electrical contractor into a leading provider of custom-engineered electrical power systems. The company went public in 1980 and has built its reputation serving heavy industrial markets including oil and gas, petrochemicals, electric utilities, and mining operations. Today, Powell operates facilities across the United States, Canada, the Middle East, Africa, Europe, Mexico, and Central and South America, maintaining a strong financial position with minimal debt and substantial cash reserves.
Business
Powell Industries operates in the electrical equipment and power distribution industry, designing and manufacturing custom-engineered electrical power systems that control, distribute, and monitor electrical energy for industrial applications. The electrical power distribution industry serves as a critical link between electrical power generation and end-use applications, requiring specialized equipment that can safely handle high voltages and demanding industrial environments. The company's core products include integrated power control room substations, which are essentially centralized facilities that house electrical switching and control equipment to manage power distribution across large industrial sites. These substations serve as the nerve centers for electrical systems in refineries, chemical plants, and other heavy industrial facilities. Powell also manufactures medium-voltage circuit breakers (operating at voltages between 1,000 and 35,000 volts), switchgear (protective switching devices), motor control centers (panels that control electric motors), and electrical houses (pre-fabricated buildings containing electrical equipment). The company's products operate across a voltage range from 480 volts to 38,000 volts, with applications spanning multiple industrial sectors. The oil and gas sector represents a significant portion of revenue, including both onshore and offshore production facilities, refineries, and pipeline operations. The petrochemical sector involves chemical processing plants that require specialized electrical systems to handle hazardous environments. The electric utility sector encompasses power generation and distribution companies, while the commercial and industrial sector includes data centers, manufacturing facilities, and other commercial applications. Additionally, Powell serves the light rail traction power market, providing electrical systems for urban transit systems. Beyond equipment manufacturing, Powell provides comprehensive value-added services including field service, installation, commissioning, system modifications, retrofits, and ongoing maintenance. These services generate recurring revenue and strengthen customer relationships throughout the equipment lifecycle.
Revenue model
Powell Industries generates revenue primarily through product sales of custom-engineered electrical equipment, with additional income from service contracts and aftermarket support. The company's customers are typically large industrial companies, electric utilities, engineering procurement and construction (EPC) contractors, and system integrators who require specialized electrical infrastructure for their operations. The business model centers on project-based sales, where Powell designs and manufactures custom electrical systems tailored to specific customer requirements. Projects can range from several hundred thousand dollars to tens of millions of dollars, with typical lead times of 6-18 months from order to delivery. Revenue recognition occurs upon completion and delivery of equipment, creating a project-driven revenue pattern that can vary significantly between quarters. Powell's services business provides recurring revenue through spare parts, field service, maintenance contracts, and system upgrades. This segment offers higher margins and more predictable cash flows compared to the equipment business, representing an important strategic focus for the company. Several factors influence Powell's profitability and margins. Commodity price inflation for steel, copper, and other raw materials can pressure margins if not adequately passed through to customers via pricing adjustments. Labor availability and costs significantly impact both margins and capacity utilization, as the company requires skilled technicians and engineers for manufacturing and field services. Project mix affects margins substantially, with complex custom projects typically commanding higher margins than standard products, while project closeouts and change orders can provide margin upside. Capacity utilization is crucial for margin expansion, as the company's substantial fixed costs can be leveraged more effectively during periods of high demand. Competition from larger electrical equipment manufacturers like ABB, Schneider Electric, and Eaton can pressure pricing, though Powell's focus on custom solutions and specialized markets provides some protection. Energy sector capital spending cycles directly impact demand, with periods of high oil prices and industrial investment driving strong order activity, while downturns can significantly reduce project activity and pricing power.
Competitive moat
Powell Industries possesses a moderate competitive moat built primarily on specialized engineering capabilities and customer relationships in niche industrial markets. The company's moat stems from several key factors that create barriers to entry and customer switching costs. Technical expertise and customization capabilities represent Powell's strongest competitive advantage. The company's ability to design and manufacture highly customized electrical systems for demanding industrial environments requires deep engineering knowledge, extensive testing capabilities, and understanding of complex regulatory requirements across different industries and geographies. This specialization makes it difficult for customers to switch suppliers mid-project and creates high switching costs for established relationships. Customer relationships and installed base provide another layer of protection. Powell's long-standing relationships with major oil companies, utilities, and industrial firms create recurring opportunities for maintenance, upgrades, and expansion projects. The company's substantial installed base generates ongoing service revenue and provides insights into future capital expenditure plans. Regulatory compliance and certification requirements in industries like oil and gas, utilities, and rail transit create additional barriers to entry. Powell's established track record and certifications with various regulatory bodies and industry standards make it costly and time-consuming for new entrants to compete effectively. However, Powell's moat faces several challenges. Scale disadvantages compared to global electrical equipment giants like ABB, Schneider Electric, and General Electric limit the company's ability to compete on standardized products and may constrain R&D investments. Cyclical end markets expose the company to significant demand volatility, reducing pricing power during downturns. Technological disruption from digitalization, IoT integration, and renewable energy transitions could potentially commoditize some of Powell's traditional products if the company fails to adapt quickly enough. The moat is best characterized as narrow but defensible within Powell's specialized niches, though it requires continuous investment in engineering capabilities and customer relationships to maintain its competitive position.
Risks & safety
Powell Industries demonstrates a strong margin of safety from a financial stability perspective, though valuation metrics suggest limited downside protection at current price levels. **Financial Strength:** • Cash position: $360 million in cash and short-term investments with zero long-term debt • Current ratio: 2.0x indicating strong liquidity • Debt-to-equity ratio: Minimal at 0.003x • Free cash flow: Positive $18 million in recent quarter, though volatile due to working capital timing **Valuation Metrics:** • P/E ratio: 11.1x based on recent earnings, reasonable but not deeply discounted • EV/EBITDA: 7.0x, moderate valuation for industrial company • Price-to-book: 3.8x, elevated relative to tangible assets • Graham number: $62 vs current price of $175, suggesting significant overvaluation by conservative metrics **Other Considerations:** • Backlog: $1.3 billion provides revenue visibility over 12-18 months • Cyclical earnings: Current profitability may not be sustainable through full cycle • Working capital intensity: Large projects create significant working capital swings affecting cash flow timing
Recent development
Over the past few years, Powell Industries has executed a comprehensive transformation strategy focused on diversification, capacity expansion, and technological advancement. The company achieved a significant milestone by reaching $1 billion in annual revenue for fiscal 2024, representing 45% growth from the prior year. Capacity expansion initiatives have been central to Powell's recent development. The company completed expansion of its Houston electrical products facility and acquired an additional 9 acres of adjacent property for future growth. These investments are expected to generate incremental revenue of $20-40 million over the next 1-2 years. Powell has also opened an engineering satellite office to attract talent and address labor market challenges. Product development and innovation have accelerated significantly, with R&D spending increasing 52% in fiscal 2024. Key product launches include a new grounding switch for international IEC switchgear designs, a compact substation for utility and battery energy storage projects, and low voltage switchgear targeting the data center market. The company also introduced a new station breaker product for utility renewable applications, demonstrating its push into energy transition markets. Market diversification efforts have shown strong results, with the commercial and industrial sector revenue growing 66% in fiscal 2024. The company has made particular progress in the data center market, developing specialized products for this high-growth segment. Electric utility sector revenue has also shown strong momentum with 48% growth in the most recent quarter. Service business expansion continues to be a strategic priority, with Powell focusing on value-added services, field service capabilities, and potential subscription-based service contracts. The company has been actively exploring strategic acquisitions in the $50-75 million range, particularly targeting automation and product development capabilities to enhance its technology platform. Geographic expansion remains an ongoing initiative, with Powell maintaining operations across multiple continents and seeing potential recovery opportunities in international markets, particularly in Asia and the Middle East.
POWL company profile · for informational purposes only — not investment advice.
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