Positioning no disclosures inside 60 days, left as found
Options put/call open interest 2.07, read 2026-11-05
Ethical passes the values gate
Price138.54 USD
Fair value165.72
Ethical score70.0/100
Value readUndervaluedas of 5 Nov 2026
Our investment reviews on this name
2026-09-13Read Markdown193.27-28.3% to today ✓Distribution gives way to Markdown with volume flow in agreement
2026-08-13Read Distribution199.30-30.5% to today ✓Markup gives way to Distribution after a 13% slide in 6 weeks
2026-07-02Read Markup230.05-39.8% to today First review on file: Markup
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
SPX Technologies Inc holds its Distribution at $138.54. Consolidating, no directional conviction, held for 44 days.
As held on the ledger · 2026-11-05
Phase
Distribution · caution
Quantitative state
Consolidating, no directional conviction, held for 44 days
Price at the screen
$138.54
Valuation
28.53 trailing · 16.79 forward price to earnings
Values screen
PASS· score 70.0
Beta
1.24
The Workings
Five Screens, Shown in Full
Full pass across all five screens. This security clears the Titan Ethical Standard: its business and its balance sheet both stay inside the lines.
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
13.92%
Below 33%
Interest-bearing debt is just 13.9% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
0.00%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
20.01%
Below 49%
Money owed to the company is 20.0% of assets, under the 49% limit.
Pass
Revenue purity
0.21%
Below 5%
Only 0.2% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Clears, in Plain English
SPX Technologies clears all five screens. Its business is in a permissible area, its interest-bearing debt is about 14%, inside the ~33% line, and almost none of its income is interest, so it passes.
Read as at 2026-11-05. It updates when the underlying figures move, and past reads are kept below.
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Get an email when SPXC's ethical verdict changes
Today SPXC passes the screen. If new figures move it to a fail, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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What the Numbers Say It Is Worth
The Fair Value Range
Our analysis reads Undervalued vs our fair value, as of 5 Nov 2026: it trades at roughly a 16% discount to our $165.72 fair value, narrow competitive moat, 22.90% revenue growth.
Fair value range in USD, drawn from the 2026-11-05 screen. The gold marker is the market price at the same screen. A 16.4% discount to the base estimate.
Where our models see it going: fair-value estimate $165.72, with a range of $165.72 to $190.58, dated to the 2026-11-05 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
HVAC parts firm priced for endless growth
Picture a contractor fitting out an office tower who needs reliable heat pumps and detection kit on time. SPX Technologies supplies those engineered bits across HVAC and measurement markets. It grows revenue at 17 percent with an 11 percent profit margin and 14 percent ROE, yet our fair value sits 17 percent below the current 211 dollar price.
We pass. The forward multiple of 23 times already bakes in strong expansion, and the narrow moat offers little cushion if orders slow. Strong buy notes from analysts point higher, but we stick to the gap between price and our own value.
The real danger lies in the cycle. Building products earnings peak when construction is hot, and a low multiple is not on offer here anyway. Currency moves, project delays and any housing slowdown could compress margins faster than the numbers suggest. Analysis, not advice.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The main risks here are ordinary market swings and the chance our fair-value read proves too optimistic.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
SPXC trades on the NYSE. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-11-05Markdown$153.47-7.0%Entry 17
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 7.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is momentum reading oversold. Over the past year the shares are up 37%. Our forward projection puts the odds of a 10% gain over the next month near 30%. The street (12 analysts) rates it strong buy, with a mean price target of $266.
2026-10-29Markdown$165.06+2.0%Entry 16
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 2.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is momentum reading oversold. Over the past year the shares are up 37%. Our forward projection puts the odds of a 10% gain over the next month near 30%. The street (12 analysts) rates it strong buy, with a mean price target of $266. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-28Markdown$161.79+0.0%Entry 15
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is momentum reading oversold. Over the past year the shares are up 37%. Our forward projection puts the odds of a 10% gain over the next month near 30%. The street (12 analysts) rates it strong buy, with a mean price target of $266. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-27Markdown$161.79-3.4%Entry 14
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 3.4% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is momentum reading oversold. Over the past year the shares are up 37%. Our forward projection puts the odds of a 10% gain over the next month near 30%. The street (12 analysts) rates it strong buy, with a mean price target of $266. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-26Markdown$167.42+0.0%Entry 13
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is momentum reading oversold. Over the past year the shares are up 37%. Our forward projection puts the odds of a 10% gain over the next month near 30%. The street (12 analysts) rates it strong buy, with a mean price target of $266. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-25Markdown$167.42+0.0%Entry 12
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is momentum reading neutral. Over the past year the shares are up 37%. Our forward projection puts the odds of a 10% gain over the next month near 30%. The street (12 analysts) rates it strong buy, with a mean price target of $266. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-24Markdown$167.42+0.0%Entry 11
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is momentum reading neutral. Over the past year the shares are up 37%. Our forward projection puts the odds of a 10% gain over the next month near 30%. The street (12 analysts) rates it strong buy, with a mean price target of $266. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-23Markdown$167.42+0.0%Entry 10
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is momentum reading neutral. Over the past year the shares are up 37%. Our forward projection puts the odds of a 10% gain over the next month near 30%. The street (12 analysts) rates it strong buy, with a mean price target of $266. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-22Markdown$167.42+0.0%Entry 9
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is momentum reading neutral. Over the past year the shares are up 37%. Our forward projection puts the odds of a 10% gain over the next month near 30%. The street (12 analysts) rates it strong buy, with a mean price target of $266. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-21Markdown$167.42-1.2%Entry 8
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 1.2% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is momentum reading neutral. Over the past year the shares are up 37%. Our forward projection puts the odds of a 10% gain over the next month near 30%. The street (12 analysts) rates it strong buy, with a mean price target of $266.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
