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Makes electrical enclosures, connectors, cable protection and thermal-management gear that keep equipment safe and running.
Makes electrical enclosures, connectors, cable protection and thermal-management gear that keep equipment safe and running.
Sells through electrical distributors to contractors and equipment makers, who specify its Hoffman, Erico and Raychem brands on projects, so orders follow construction and plant-building activity. Spun out of Pentair in 2018 as a pure electrical business. Data-center and power-utility projects have become a larger part of what it sells.
Moat: narrow (distribution, installed base, brand). Long-standing electrical-contractor and distributor relationships make its brands the default spec.
Headquarters: London, United Kingdom · Founded: 2018 · Employees: 12,000
Size NVT (NVT) is a United States Information Technology company (Electronic Components) with a market value of $17.2B, the 544th largest of 3,117 United States companies the cockpit tracks. Shares closed at $106.22 on 6 Nov 2026.
Performance Over six months the shares fell 37.5%, against -25.7% for the median peer and -1.1% for the United States market (cap-weighted) — 5th lowest of 20 in its peer set.
Growth Revenue grew 48.0% over the last twelve months (peer median +33.4%); the operating margin is 18.0% (peer median 12.9%).
Valuation It trades at 16.4× forward earnings against a peer median of 21.2× (6th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 16% a year for seven years (Req g). Recent delivered growth is +14%, so the hurdle is +2 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 3.1 points above its cost of capital (11.0% WACC).
Credit NVT has 3 bonds outstanding ($1.30B), rated BBB- by the agencies and trading like BBB- at a weighted spread of 99 bp.
Short interest Short interest is 3.0% of the free float (15 Oct 2026).
Next results Next results expected around 9 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $5.29B | $3.89B | $3.01B | $2.67B | $2.91B |
| Revenue growth | — | +30% | +13% | -8% | — |
| Gross profit | $1.94B | $1.47B | $1.21B | $1.08B | $1.10B |
| EBITDA | $1.18B | $832M | $701M | $596M | $561M |
| Net income | $675M | $428M | $332M | $567M | $400M |
| Free cash flow | $643M | $372M | $569M | $462M | $349M |
| Capital expenditure | $131M | $93.3M | $74.0M | $65.6M | $45.9M |
| Total debt | $2.35B | $1.71B | $2.27B | $1.89B | $1.16B |
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 |
|---|---|---|---|---|---|---|
| NVT NVT | $17.2B | -38% | +48% | 18% | 16.4× | 16.2% |
| Hubbell HUBB | $22.7B | -13% | +16% | 21% | 19.1× | 10.5% |
| Eaton ETN | $133B | -15% | +20% | 19% | 21.4× | 19.1% |
| ABB ABBN.SW | $147B | -17% | +1% | 18% | 24.5× | 4.3% |
| Schneider Electric SU.PA | $151B | -16% | +7% | 18% | 22.2× | 18.0% |
| Legrand LR.PA | $38.0B | -16% | +10% | 21% | 22.0× | 15.6% |
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 | NVT | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -35.3% | -40.0% | 7th highest of 21 |
| 6-month return | -37.5% | -25.7% | 5th lowest of 20 |
| Distance from 52-week high | -42.5% | -51.9% | 4th highest of 21 |
| Revenue growth (TTM) | +48.0% | +33.4% | 8th highest of 21 |
| Operating margin | 18.0% | 12.9% | 7th highest of 21 |
| Forward P/E | 16.4× | 21.2× | 6th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 16.2% | 34.2% | 5th least demanding of 12 |
| Growth delivered (Del g) | +14.3% | +7.7% | 4th highest of 12 |
| Hurdle (Req g minus delivered) | +2.0 pp | +17.4 pp | 3rd least demanding of 12 |
| ROIC minus cost of capital | +3.1 pp | +4.1 pp | 10th lowest of 21 |
| EV / EBITDA | 15.6× | 13.4× | 5th most expensive of 10 |
| Net debt / EBITDA | 1.0× | -0.9× | 2nd most indebted of 11 |
| Bond spread | 99 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| NVT NVT | United States | $17.2B | -38% | +48% | 18% | 16.4× | 16.2% | +14.3% |
| Nan Ya Printed Circuit Board 8046.TW | Taiwan | $17.1B | -12% | +34% | 12% | 26.1× | 58.7% | +0.8% |
| Largan Precision 3008.TW | Taiwan | $17.7B | +76% | 0% | 35% | 26.0× | 12.6% | +1.8% |
| Avary Holding (Shenzhen) 002938.SZ | China | $16.2B | -35% | +8% | 10% | 22.4× | n/a | n/a |
| Victory Giant Technology (HuiZhou) 300476.SZ | China | $18.3B | -62% | +38% | 26% | 17.2× | n/a | n/a |
| Chaozhou Three-Circle (Group) 6951.HK | Hong Kong | $20.2B | n/a | +74% | 34% | 22.3× | 34.2% | +16.8% |
| Shennan Circuit 002916.SZ | China | $20.4B | -36% | +51% | 18% | 22.6× | n/a | n/a |
| Wus Printed Circuit (Kunshan) 002463.SZ | China | $21.2B | -29% | +61% | 28% | 18.2× | n/a | n/a |
| Ibiden 4062.T | Japan | $22.1B | +164% | +26% | 18% | 39.2× | 39.2% | +5.2% |
| Gold Circuit Electronics 2368.TW | Taiwan | $12.9B | -45% | +68% | 26% | 14.5× | 14.2% | +20.7% |
| Zhen Ding Technology Holding Lt 4958.TW | Taiwan | $12.8B | -12% | +5% | 9% | 18.4× | n/a | n/a |
| Tdk 6762.T | Japan | $25.4B | -27% | +25% | 10% | 15.0× | 18.2% | +11.1% |
| Celestica CLS.TO | Canada | $26.3B | -44% | +61% | 9% | 11.5× | 11.0% | +17.6% |
| Suzhou Dongshan Precision Manufacturing 002384.SZ | China | $26.9B | -57% | +56% | 11% | 18.0× | n/a | n/a |
| Accelink Technologies 002281.SZ | China | $10.8B | -37% | +32% | 11% | 42.6× | n/a | n/a |
| Kinsus Interconnect Technology 3189.TW | Taiwan | $10.7B | +27% | +34% | 14% | 29.4× | 41.2% | +7.7% |
| Sunny Optical 2382.HK | Hong Kong | $8.92B | -3% | +20% | 8% | 14.8× | 4.9% | +1.9% |
| Innolux 3481.TW | Taiwan | $8.71B | +32% | +11% | 0% | 62.6× | 37.3% | -3.4% |
| Shenzhen Kinwong Electronic 603228.SS | China | $8.38B | -23% | +33% | 12% | 22.6× | n/a | n/a |
| Unimicron Technology 3037.TW | Taiwan | $35.4B | -19% | +33% | 13% | 20.1× | 45.9% | +8.3% |
| Taiwan Union Technology 6274.TWO | Taiwan | $8.21B | -26% | +87% | 23% | 13.9× | n/a | n/a |
NVT has 3 bonds outstanding with $1.30B face value. The agencies rate it BBB-; its bonds trade like BBB-. Weighted yield 5.57%, a spread of 99 bp over government bonds.