Hubbell
ConvictionModerate
Diversified manufacturer of branded electrical and utility infrastructure hardware; sells through electrical/utility distributors and direct to investor-owned utilities; two segments (Utility Solutions ~63%, Electrical Solutions ~37%); growth via organic share gain plus bolt-on M&A.
Revenue
$5,844.6MFY2025Rev growth
+3.8% total / +3.3% organicFY2025); +11% total / +8% organic (Q1 2026Gross margin
~35%approx.; not broken out in the earnings releaseOp margin
20.7% GAAP / 22.7% adjustedFY2025Capex intensity
~2.7%capex $155.1M / revenue, FY2025Market cap
~$25.7BNYSE: HUBB, ~$487/sh x ~52.8M sh, 2026-07Primary source
Reported financials — SEC EDGAR
Audited GAAP figures pulled from SEC filings · latest filing 2026-02-12. The audited primary-source spine — not financial advice.
Revenue — annual (GAAP)
FY’21
$4.2B
FY’22
$4.9B+18%
FY’23
$5.4B+9%
FY’24
$5.6B+5%
FY’25
$5.8B+4%
Margins & balance sheet — FY’25
Gross margin35.3%
Operating margin20.7%
Net margin15.2%
Net debt$2.1B
The read
Where our coverage leans
Coverage leans bullish
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Earnings, margins & COGS, the income-statement breakdown, SWOT, moats & dependencies, the supplier–customer ecosystem graph, top signals & trends, and the valuation range.
- Income statement & margin structure
- SWOT, moats & dependency map
- Supplier–customer ecosystem graph
- Signals, trends & valuation range
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