POWELL INDUSTRIES INC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data POWELL INDUSTRIES INC files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	565	396	449	517	518	471	533	699	1,012	1,104
Cost of revenue	459	345	383	430	424	395	448	552	739	780
Gross profit	106	50.8	65.4	87	94.6	75.1	85	148	273	324
Research and development	6.73	6.91	6.72	6.33	6.27	6.67	6.96	6.22	9.43	11
Selling, general and administrative	74.9	61.5	66.8	70	67.7	67.2	70.8	78.8	84.9	95.4
Operating income	15.8	-19.3	-9.12	11.5	19.1	1.02	7.22	62.5	179	218
Interest expense	0.15	0.17	0.21	0.23	0.23	0.2
Interest income	0.16	0.56	0.88	1.1	0.75	0.07	0.33	6.43
Other non-operating income	2.03	2.03	0.75	0	0.51	0	2.29	0	0
Pre-tax income	17.8	-16.9	-7.7	12.3	20.3	1.09	9.84	69	196	234
Income tax	2.28	-7.43	-0.55	2.44	3.67	0.46	-3.89	14.4	46.2	52.8
Income from continuing operations	15.5
Net income	15.5	-9.49	-7.15	9.89	16.7	0.63	13.7	54.5	150	181
EBITDA	28.7	-6.58	3.78	23.5	29.6	11.4	16.6	71.1	186	225
EPS, basic	1.36	-0.83	-0.62	0.85	1.43	0.05	1.16	4.59	12.51	14.98
EPS, diluted	1.36	-0.83	-0.62	0.85	1.42	0.05	1.15	4.50	12.29	14.86
Shares, basic (weighted)	11.4	11.5	11.5	11.6	11.6	11.7	11.8	11.9	12	12.1
Shares, diluted (weighted)	11.4	11.5	11.5	11.6	11.7	11.8	11.9	12.1	12.2	12.2
Dividend per share	1.04	1.04	1.04	1.04	1.04	1.04	1.04	1.05	1.06	1.07

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	97.7	68.4	36.6	119	160	114	102	246	315	451
Short-term investments	0	26.8	13.2	6.04	18.7	19.7	14.6	33.1	43.1	24.8
Receivables	101	53.9	92.5	112	70	78.3	106	207	214	217
Inventory	26.5	18.4	21.4	29.2	29	29.8	50.4	63.9	85.9	84.7
Other current assets	2.46	0.46	0.63	2.65	1.95	1.6	3.81	6.38	7.5	7.14
Total current assets	304	250	277	329	336	302	370	622	776	932
Property, plant and equipment	145	139	129	121	114	109	98.6	97.6	103	111
Lease right-of-use assets					5.22	3.45	2.18	1.44	1.22	1.66
Goodwill		1	1	1	1	1	1	1	1	6.13
Intangible assets									0.5	6.14
Other non-current assets	11.3	13.8	11.1	11.6	12.2	15.2	12.4	13.1	18.3	18.9
Total assets	463	415	430	467	472	436	493	752	928	1,109
Accounts payable	35	33.3	40.7	51.2	35	45.2	63.4	56.7	73.6	67.1
Accrued liabilities	22.6	15	22.3	20.2	21.7	20.4	24.8	29.9	33.8	39.2
Deferred revenue			43.2	71.5	79.4	42.4	79.9	280	288	298
Short-term debt	0.4	0.4	0.4	0.4	0.4	0.4	0
Total current liabilities	118	85.6	118	158	153	121	186	396	428	446
Long-term debt	2	1.6	1.2	0.8	0.4	0	0
Lease liabilities					3.43	2.41	0.55	0.66	0.62	0.78
Other non-current liabilities	1.47	1.2	3.36	3.12	2.16	2.79	1.51	1.72	1.74	2.04
Total liabilities	127	93.7	128	168	166	135	196	407	445	468
Total debt	2.4	2	1.6	1.2	0.8	0.4	0
Paid-in capital	52	54.3	56.8	59.2	62	63.9	67.4	71.5	70.1	62.8
Retained earnings	332	311	292	289	294	283	284	325	462	630
Treasury stock	-25	-25	-25	-25	-25	-25	-25	-25	-25	-25
Other comprehensive income	-23.8	-18.8	-21.8	-24.5	-24.5	-20.4	-29	-26.9	-24.4	-27
Shareholders' equity	335	321	302	299	307	301	297	345	483	641
Total equity	335	321	302	299	307	301	297	345	483	641
Total liabilities and equity	463	415	430	467	472	436	493	752	928	1,109
Shares outstanding							12.6	11.9	12	36.2

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	15.5	-9.49	-7.15	9.89	16.7	0.63	13.7	54.5	150	181
Depreciation and amortization	13	12.8	12.9	12	10.5	10.3	9.36	8.61	6.87	7.27
Stock-based compensation	4.88	2.72	3.15	3.84	3.47	2.58	4.09	4.6	4.75	4.64
Deferred income tax	2.33	0.1	-2.17	0.82	1.47	-1	-4.86	-7.85	-7.47	-4.87
Change in receivables	0.37	48	-37.2	-20.2	42	-7.51	-31.6	-99.7	-7.31	-2.44
Change in inventory	6.16	8.21	-3.02	-7.99	0.3	-0.6	-21.4	-13.3	-21.8	2.98
Change in payables	-11.7	-2.42	8.15	9.55	-15.3	9.76	18.6	-6.17	16.3	-7.49
Cash from operations	74.9	36.8	-28.5	68.8	72.4	-30.5	-3.58	183	109	168
Capital expenditures	-3.04	-3.62	-4.42	-4.26	-5.16	-2.93	-2.45	-7.82	-12	-13.1
Acquisitions								0	0	-11.5
Purchases of investments	0	-60	-22.3	-5.87	-18.6	-27.7	-22.4	-33.5	-42.9	-37.3
Cash from investing	-2.86	-30.5	10.4	2.96	-17.5	-2.46	6.47	-26.6	-21.9	-8.34
Debt repaid	-0.4	-0.4	-0.4	-0.4	-0.4	-0.4	-0.4	0	0
Share buybacks	-3.74	0	0
Dividends paid	-11.8	-11.9	-11.9	-12	-12.1	-12.1	-12.2	-12.4	-12.7	-12.9
Cash from financing	-17.4	-12.7	-13	-13.9	-13.1	-13.2	-13.3	-13.1	-19.3	-25.1
Exchange rate effect	-0.53	1.8	-0.35	-0.96	-0.19	0.2	-1.94	1	1.92	0.93
Net change in cash		-6.31	-31.1	57.9	41.8	-46.1	-10.4	143	67.5	134
Free cash flow	71.9	33.2	-33	64.5	67.2	-33.4	-6.03	175	96.7	155
Interest paid	0
Income taxes paid	-0.35	-0.76	0.35	-5.22	1.77	1.89	0.53	17.2	50.9	56.1

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $189.53 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	30.1%	Gross profit / revenue.
Operating margin	19.7%	Operating income / revenue.
EBITDA margin	20.4%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	21.2%	Pre-tax income / revenue.
Net margin	16.5%	Net income / revenue.
FCF margin	21.1%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	22.1%	Cash from operations / revenue.
Effective tax rate	22.3%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	25.2%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	13.6%	Net income / average total assets.
Return on invested capital (ROIC)	144.4%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	1.3%	Research and development expense / revenue.
SG&A / revenue	9.0%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.5%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	1.1%	Capital expenditures / revenue.
D&A / revenue	0.7%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	9.1%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	27.5%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	16.3%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	18.8%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	56.3%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	28.0%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	21.9%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	211.3%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	62.8%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	21.3%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	138.6%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	50.0%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	20.6%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	136.1%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	61.1%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	20.9%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	134.7%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	59.9%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	54.6%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 5y	18.3%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	60.1%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 5y	18.2%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	0.9%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	0.9%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	0.5%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	32.6%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	29.2%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	15.9%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	19.5%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	31.0%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	18.6%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-0.2%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	0.6%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	0.8%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.97x	Current assets / current liabilities.
Quick ratio	1.59x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	1.01x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	46.2%	Total liabilities / total assets.
Working capital	$606.5M	Current assets - current liabilities.
Goodwill and intangibles / assets	0.8%	(Goodwill + intangible assets) / total assets.
Tangible book value	$744.7M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.82x	Revenue / average total assets.
Fixed asset turnover	9.76x	Revenue / average property, plant and equipment.
Inventory turnover	8.49x	Cost of revenue / average inventory.
Days inventory	43 days	365 x average inventory / cost of revenue.
Receivables turnover	3.19x	Revenue / average receivables.
Days sales outstanding	114 days	365 x average receivables / revenue.
Days payables	39 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	118 days	Days inventory + days sales outstanding - days payables.
FCF conversion	127.8%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	4.7%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$10.29	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$31.62	Revenue / diluted weighted shares.
FCF per share	$6.66	Free cash flow / diluted weighted shares.
Operating cash flow per share	$7.00	Cash from operations / diluted weighted shares.
Book value per share	$20.76	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$20.44	Tangible book value / shares outstanding.
Cash per share	$17.39	(Cash + short-term investments) / shares outstanding.
Payout ratio	6.8%	Dividends paid / net income, when net income is positive.
Dividends / FCF	5.3%	Dividends paid / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$6.91B	Share price x shares outstanding.
Enterprise value	$6.27B	Market cap + total debt - cash - short-term investments.
P/E	36.2x	Market cap / net income. Only when net income is positive.
P/S	5.97x	Market cap / revenue.
P/B	9.13x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	9.27x	Market cap / tangible book value, when positive.
P/FCF	28.3x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	27.0x	Market cap / cash from operations, when positive.
EV/Sales	5.42x	Enterprise value / revenue.
EV/EBIT	27.5x	Enterprise value / operating income, when both are positive.
EV/EBITDA	26.5x	Enterprise value / EBITDA, when both are positive.
EV/FCF	25.7x	Enterprise value / free cash flow, when both are positive.
FCF yield	3.5%	Free cash flow / market cap.
Earnings yield	2.8%	Net income / market cap (the inverse of P/E).
Dividend yield	0.2%	Dividends paid over the period / market cap.
Shareholder yield	0.2%	(Dividends paid + share buybacks) / market cap.
PEG	0.27x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was POWELL INDUSTRIES INC's revenue in fiscal 2025?

POWELL INDUSTRIES INC reported revenue of $1.10B for fiscal 2025, 9.1% higher than the year before.

Was POWELL INDUSTRIES INC profitable in fiscal 2025?

Yes. Net income was $180.7M, a net margin of 16.4%.

How much free cash flow did POWELL INDUSTRIES INC generate in fiscal 2025?

Cash from operations of $167.9M minus capital expenditures of $13.1M left free cash flow of $154.8M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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