# Powell Industries, Inc. (POWL)

> Source: Nexqual · https://nexqual.com/POWL · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Powell Industries, Inc. (POWL), nexqual.com/POWL" · informational, not investment advice.

**Price:** USD 150.71 (-11.51% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 170.32 · day 149.25–163.39 · 52w 92.59–328 · market cap $5.49B · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $1.16B, net income $191M (16.5% margin), free cash flow $244M (SEC filings).
- Valuation: P/E 28.8x (avg 19.0x at the last 3 fiscal year-ends).
- 1 of 80 tracked superinvestors hold POWL (13F, Q2 2026): 0 new, 1 added, 0 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 14 Form 4 filings, $21.2M; 5 not under a Rule 10b5-1 plan ($11.9M); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.25 on a 1–5 scale) (4 analysts), mean target USD 267.5 (range 235–333).
- Total return with dividends: 1Y +32.6% vs S&P 500 +14.9%; 5Y +1786.4% vs S&P 500 +80.3%.
- Next earnings: 2026-11-17, EPS estimate USD 1.56, revenue estimate $331M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $471M | $533M | $699M | $1.01B | $1.10B | $1.16B |
| Gross profit | $75.1M | $85.0M | $148M | $273M | $324M | — |
| Operating income | $1.0M | $7.2M | $62.5M | $179M | $218M | $228M |
| Net income | $631K | $13.7M | $54.5M | $150M | $181M | $191M |
| EPS (diluted) | $0.02 | $0.38 | $1.50 | $4.10 | $4.95 | — |
| Free cash flow | -$33.4M | -$6.0M | $175M | $96.7M | $155M | $244M |
| Gross margin | 16.0% | 16.0% | 21.1% | 27.0% | 29.4% | — |
| Operating margin | 0.2% | 1.4% | 8.9% | 17.7% | 19.7% | 19.7% |
| Net margin | 0.1% | 2.6% | 7.8% | 14.8% | 16.4% | 16.5% |
| Revenue growth | -9.2% | +13.2% | +31.3% | +44.8% | +9.1% | — |
| Cash + short-term investments | $134M | $117M | $279M | $358M | $476M | — |
| Total debt | $400K | $0K | — | — | — | — |
Fiscal years end Sep. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 28.8x · P/S 4.7x · P/FCF 22.5x · P/B 7.3x · FCF yield 4.44% · Earnings yield 3.48% · Dividend yield (paid, TTM) 0.24%
P/E at fiscal year-ends: Sep 2025 20.5x, Sep 2024 18.1x, Sep 2023 18.4x.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold POWL. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Polen Capital | Polen Capital Management | 0.07% | $8.4M | Added +66.9% |

## Insider sales (SEC Form 4, open-market, last ~7 months)
9 of 14 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-10-16 | Ni Ping | Corp Controller | 700 | $117K | 11.6% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-09-30 | Mauney William Marshall Jr | Vice President, R&D | 301 | $56K | 2.6% | No | Too little history (no open-market trades in 2023) |
| 2026-09-30 | Cope Brett Alan | President & CEO | 4,799 | $901K | 0.9% | No | Too little history (no open-market trades in 2023) |
| 2026-08-14 | Williams Richard E | Director | 2,250 | $457K | 5.7% | Yes (adopted April 6, 2026) | Too little history (no open-market trades in 2023 or 2025) |
| 2026-08-13 | Cope Brett Alan | President & CEO | 4,500 | $932K | 0.9% | Yes (adopted November 26, 2025) | Too little history (no open-market trades in 2023) |
| 2026-07-09 | Cope Brett Alan | President & CEO | 4,440 | $1.1M | 0.9% | Yes (adopted November 26, 2025) | Too little history (no open-market trades in 2023) |
| 2026-06-30 | Metcalf Michael William | Exec Vice President | 4,500 | $1.3M | 5.4% | Yes (adopted December 2, 2025) | Too little history (no open-market trades in 2023) |
| 2026-06-25 | Powell Thomas W |  | 33,958 | $10.0M | 1.5% | No | Too little history (no open-market trades in 2025) |
| 2026-06-11 | Cope Brett Alan | President & CEO | 4,440 | $1.2M | 0.9% | Yes (adopted November 26, 2025) | Too little history (no open-market trades in 2023) |
| 2026-05-28 | Singh Mohit | Director | 1,350 | $396K | 33.1% | Yes | Too little history (no open-market trades in 2023–2025) |
| 2026-05-14 | Cope Brett Alan | President & CEO | 4,440 | $1.3M | 0.9% | Yes (adopted November 26, 2025) | Too little history (no open-market trades in 2023) |
| 2026-05-14 | Williams Richard E | Director | 5,250 | $1.6M | 11.7% | Yes (adopted February 11, 2026) | Too little history (no open-market trades in 2023 or 2025) |
| 2026-05-11 | Mauney William Marshall Jr | Vice President, R&D | 2,500 | $809K | 18.7% | No | Too little history (no open-market trades in 2023) |
| 2026-04-09 | Cope Brett Alan | President & CEO | 4,440 | $1.0M | 2.6% | Yes (adopted November 26, 2025) | Too little history (no open-market trades in 2023) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 2.25 on a 1–5 scale), 4 analysts; mean target USD 267.5 (low 235, high 333).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-13 | JP Morgan | Target lowered | Overweight | $300 → $250 |
| 2026-10-01 | Cantor Fitzgerald | Reiterated | Neutral | $235 |
| 2026-08-14 | Cantor Fitzgerald | Target lowered | Neutral | $320 → $235 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +32.6% | +1786.4% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +32.8% | +79.7% |
| Volatility (annualized) | 64.3% | 62.4% |
| Max drawdown | -53.2% (May 2026→Oct 2026) | -52.9% (Nov 2024→Mar 2025) |

## Peers (Electrical Equipment & Parts)
ENS (EnerSys) USD 168.67 -4.65% · AYI (Acuity Inc.) USD 317.23 +0.15% · AEIS (Advanced Energy Industries, Inc) USD 216.64 -12.49% · FPS (Forgent Power Solutions, Inc.) USD 24.92 -21.54% · ATKR (Atkore Inc.) USD 94.96 +0.04% · ACCV (Accelevation Holdings Corp.) USD 12.25 -12.06%

## More
Full page: https://nexqual.com/POWL · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in POWL's own 10-K filed 2025-11-19 (https://www.sec.gov/Archives/edgar/data/80420/000008042025000152/powl-20250930.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | Remsdaq | "The inputs include forecasted future revenues, future margins, and revenues attributable to existing customers, obsolescence factor, royalty rate, customer attrition rate, contributory asset charges and discount rates, w…" |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Oil and Gas Service | $106.3M | 34.1% | +0.8% |
| Electric utility | $88.6M | 28.4% | +18.3% |
| Commercial and other industrial | $76.3M | 24.5% | +54.1% |
| Petrochemical | $18.5M | 5.9% | -49.2% |
| All others | $14.1M | 4.5% | +22.9% |
| Light rail traction power | $8.0M | 2.6% | -6.9% |
| Total revenue | $311.7M | 100% | — |

## Revenue by region (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| United States | $250.6M | 80.4% | +11.6% |
| Canada | $24.1M | 7.7% | -43.3% |
| Middle East and Africa | $15.9M | 5.1% | +60.1% |
| Asia/Pacific | $11.8M | 3.8% | +552.7% |
| Europe | $8.6M | 2.8% | +55.8% |
| Mexico, Central and South America | $713,000 | 0.2% | -62.1% |
| Total revenue | $311.7M | 100% | — |

## Company outlook (8-K filed 2026-08-03)

- "The Powell team also continues to focus on strong project execution as we deliver our record backlog (3) , demonstrated by a strong gross margin performance of 30.6%." Third Quarter Fiscal 2026 Results Revenues totaled $312 million, an increase of 9% compared to $286.3 million in the prior year, and a sequential increase of 5% compared to $296.6 million in the second quarter of Fiscal 2026."
- "OUTLOOK Commenting on the Company's expectations for the remainder of Fiscal 2026, Cope added, "The outlook for each of our core end markets are highly favorable, supported by durable and diverse demand drivers, including the continuation of U.S."
- "We expect that gross margins will maintain levels consistent to the trailing twelve months, while prudently adding capacity to support the acceleration in our backlog (3) ."
- "The expansion of our Jacintoport fabrication yard is expected to be completed by the close of Fiscal 2026, and we anticipate production to ramp up as we leverage this additional capacity to support recent core industrial project awards."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $1.56 | $1.60 | -2.5% | $331.4M | 5 |
| Next quarter (ends 2026-12-31) | $1.27 | $1.21 | +5.0% | $300.8M | 3 |
| Current fiscal year (ends 2026-09-30) | $5.37 | $5.45 | -1.5% | $1.19B | 5 |
| Next fiscal year (ends 2027-09-30) | $6.82 | $6.66 | +2.4% | $1.48B | 5 |