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Canadian manufacturer of dry-type and other electrical transformers for industrial, commercial and utility customers in North America.
Canadian manufacturer of dry-type and other electrical transformers for industrial, commercial and utility customers in North America.
Sells through electrical distributors across North America for standard units, with custom-engineered units built to order for projects such as data centres. Manufacturing is in Canada, the US, Mexico and India, and rising demand has pushed it to add capacity.
In one line: A transformer manufacturer like a smaller Eaton/Hubbell electrical unit.
Moat: narrow (customer qualification, installed base). Specialised transformer manufacturing/testing certifications and long lead-time capacity create moderate switching costs.
Headquarters: Guelph, Canada · Founded: 1917 · Employees: 2,476
Size Hammond Power Solutions (HPS-A.TO) is a Canada Industrials company (Electrical Products) with a market value of $1.60B, the 203rd largest of 420 Canada companies the cockpit tracks. Shares closed at C$187.92 on 6 Nov 2026.
Performance Over six months the shares fell 41.4%, against -38.9% for the median peer and +5.2% for the Canada market (cap-weighted) — 8th lowest of 18 in its peer set.
Growth Revenue grew 51.3% over the last twelve months (peer median +24.2%); the operating margin is 11.3% (peer median 8.6%).
Valuation It trades at 13.7× forward earnings against a peer median of 27.1× (3rd cheapest of 13).
Price implies For today's price to make sense, revenue must grow about 9% a year for seven years (Req g). Recent delivered growth is +23%, so the hurdle is -13 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 5.4 points above its cost of capital (7.8% WACC).
Next results Next results expected around 4 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | C$1.29B | C$898M | C$788M | C$710M | C$558M |
| Revenue growth | — | +14% | +11% | +27% | — |
| Gross profit | C$410M | C$271M | C$257M | C$230M | C$166M |
| EBITDA | C$181M | C$124M | C$113M | C$97.2M | C$70.4M |
| Net income | C$71.9M | C$72.2M | C$71.5M | C$63.4M | C$44.8M |
| Free cash flow | C$70.8M | -C$12.5M | C$23.7M | C$23.1M | C$27.1M |
| Capital expenditure | C$32.1M | C$35.7M | C$40.7M | C$20.6M | C$9.33M |
| Total debt | C$537M | C$81.4M | C$36.2M | C$37.0M | C$17.6M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Hammond Power Solutions HPS-A.TO | $1.60B | -41% | +51% | 11% | 13.7× | 9.4% |
| Eaton ETN | $133B | -15% | +20% | 19% | 21.4× | 19.1% |
| ABB ABBN.SW | $147B | -17% | +1% | 18% | 24.5× | 4.3% |
| Hubbell HUBB | $22.7B | -13% | +16% | 21% | 19.1× | 10.5% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | HPS-A.TO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -35.9% | -16.2% | 4th lowest of 21 |
| 6-month return | -41.4% | -38.9% | 8th lowest of 18 |
| Distance from 52-week high | -48.5% | -60.3% | 6th highest of 21 |
| Revenue growth (TTM) | +51.3% | +24.2% | 4th highest of 21 |
| Operating margin | 11.3% | 8.6% | 6th highest of 21 |
| Forward P/E | 13.7× | 27.1× | 3rd cheapest of 13 |
| Growth the price implies (Req g, 7 yrs) | 9.4% | 17.9% | 2nd least demanding of 10 |
| Growth delivered (Del g) | +22.8% | +12.3% | 4th highest of 10 |
| Hurdle (Req g minus delivered) | -13.4 pp | +7.4 pp | 4th least demanding of 10 |
| ROIC minus cost of capital | +5.4 pp | -4.2 pp | 5th highest of 20 |
| EV / EBITDA | 14.6× | 13.7× | 4th cheapest of 7 |
| Net debt / EBITDA | 2.2× | 0.0× | 2nd most indebted of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Hammond Power Solutions HPS-A.TO | Canada | $1.60B | -41% | +51% | 11% | 13.7× | 9.4% | +22.8% |
| Yangtze Optical Electronic 688143.SS | China | $1.59B | +56% | +25% | 2% | 296.7× | n/a | n/a |
| Hainan Drinda New Energy Technology 2865.HK | Hong Kong | $1.62B | -65% | +1% | -13% | n/a | 29.6% | +53.8% |
| ERock EROC | United States | $1.56B | n/a | +43% | -19% | 35.8× | 12.5% | +42.5% |
| Aerospace Hi-Tech 000901.SZ | China | $1.63B | -43% | -21% | 1% | n/a | n/a | n/a |
| Hangzhou Gold Electronic Equipment 301669.SZ | China | $1.56B | n/a | +37% | 9% | n/a | n/a | n/a |
| Sinfonia Technology 6507.T | Japan | $1.56B | -39% | +9% | 15% | 14.2× | 15.4% | +8.0% |
| Long Young Electronic (Kunshan) 301389.SZ | China | $1.55B | -41% | +103% | 17% | 55.4× | 46.5% | +3.3% |
| Googol Technology 301510.SZ | China | $1.65B | -30% | +66% | 21% | n/a | 50.5% | +14.1% |
| Shenzhen SDG Information 000070.SZ | China | $1.55B | -33% | +27% | -1% | n/a | 28.4% | -1.3% |
| Shandong Hi-tech Spring Material Technology 301292.SZ | China | $1.54B | -46% | +46% | 11% | 31.8× | n/a | n/a |
| Beijing Victory Electric 001393.SZ | China | $1.53B | n/a | +31% | 11% | n/a | n/a | n/a |
| Opple Lighting 603515.SS | China | $1.67B | -26% | +1% | 9% | 17.2× | n/a | n/a |
| Cswind 112610.KS | South Korea | $1.52B | -31% | -8% | 7% | 11.6× | -0.5% | +23.8% |
| Iljin Electric 103590.KS | South Korea | $1.52B | -65% | +24% | 9% | 11.2× | n/a | n/a |
| Shenzhen Hopewind Electric 603063.SS | China | $1.52B | -50% | -5% | 9% | 24.6× | 14.6% | +12.3% |
| Roshow Technology 002617.SZ | China | $1.68B | -24% | +4% | 8% | n/a | 17.9% | +5.2% |
| Up-Shine Lighting 301362.SZ | China | $1.50B | -39% | +15% | 7% | 29.5× | n/a | n/a |
| Shanghai Electric Wind Power 688660.SS | China | $1.50B | -39% | +69% | -6% | n/a | n/a | n/a |
| Zhejiang Zhaolong Interconnect Technology Co. Limited 300913.SZ | China | $1.49B | -45% | +29% | 12% | 44.1× | n/a | n/a |
| Inox Wind INOXWIND.NS | India | $1.49B | -39% | +17% | 15% | 15.4× | n/a | n/a |