What does (gains) losses on strategic investments, net mean?

The non-cash impact of valuation changes on strategic, non-public investments.

How do you interpret (gains) losses on strategic investments, net?

Fluctuations here reflect the performance of the company's investment portfolio rather than core HVAC or technology operations.

How does (gains) losses on strategic investments, net compare across companies?

Similar to other industrial conglomerates that hold minority stakes in technology or service partners.

SPX Technologies SPXC (Gains) losses on strategic investments, net

(Gains) losses on strategic investments, net at other companies

IlluminaILMN

-$38M-219%

Simon Property GroupSPG

-$6.38M+73.4%

Sirius XMSIRI

$0—

MastercardMA

-$22M-203%

Simon Property GroupSPG

-$6.38M+73.4%

STERISSTE

$600K+106%

Other financials

Income statement

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Revenue$566.8M+17.4%

Gross profit$230.6M+17.7%

Operating income$87.7M+31.7%

Net income$59.9M+17.0%

EPS (diluted)$1.19+9.2%

Balance sheet

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Cash & equivalents$158.3M-13.1%

Total debt$697.6M-31.7%

Total equity$2.3B+58.3%

Total assets$3.9B+23.6%

Cash flow

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Operating cash flow$30.6M+381%

CapEx$18.5M+236%

Free cash flow$12.1M+174%

Valuation

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Market cap$12.16B+67.0%

Enterprise value$12.7B+54.3%

P/E48.1×+12.2×

P/S5.2×+1.5×

Profitability

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Gross margin40.5%-0.1pp

Operating margin15.8%+0.3pp

Net margin10.8%+0.6pp

FCF margin11.5%-0.1pp

Returns & leverage

See full

Return on equity13.6%-1.6pp

Debt / equity0.3×-0.4×

Current ratio2.1×+0.2×

Where this comes from

Reported directly by SPX Technologies in its filing.

Tagged under the XBRL concept us-gaap:EquitySecuritiesWithoutReadilyDeterminableFairValueDownwardPriceAdjustmentAnnualAmount.

The official record: SPX Technologies’s 10-K, filed February 25, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is SPX Technologies's (gains) losses on strategic investments, net?: SPX Technologies (SPXC) reported (gains) losses on strategic investments, net of $1.05M in Q4 2024.
What does (gains) losses on strategic investments, net mean?: The non-cash impact of valuation changes on strategic, non-public investments.
How do you interpret (gains) losses on strategic investments, net?: Fluctuations here reflect the performance of the company's investment portfolio rather than core HVAC or technology operations.
How does (gains) losses on strategic investments, net compare across companies?: Similar to other industrial conglomerates that hold minority stakes in technology or service partners.