Spirax Group (SPX) Stock Price, Fundamentals & Analysis

What SPX does

Spirax Group (SPX) is a UK-based industrial company headquartered in Cheltenham, listed on the London Stock Exchange, with around 10,000 employees. It provides thermal energy and fluid technology solutions across Europe, the Middle East, Africa, Asia Pacific and the Americas.

The business operates through three segments: Steam Thermal Solutions, which supplies industrial and commercial steam systems for heating, drying, sterilising and more; Electric Thermal Solutions, offering electrical process heating and temperature management such as industrial heaters and heat tracing; and Watson-Marlow Fluid Technology Solutions, which designs peristaltic and niche pumps and fluid path technologies including tubing and specialised filling systems.

Its customers span many industries, including food and beverage, pharmaceuticals and biotechnology, oil and gas, chemicals, power generation, healthcare, water treatment, semiconductors and mining. It sits in the Industrials sector, within the Specialty Industrial Machinery industry, alongside UK peers such as IMI (IMI) and Halma plc (HLMA).

Key numbers explained

• Price: 70.5 GBP, up +1.15% today, and within a 52-week range of 59.5 – 80.5 GBP — the lowest and highest prices over the past year.
• The P/E ratio (price divided by earnings per share) is 26.2 on trailing earnings and 19.6 on expected earnings; a lower forward figure suggests the market expects earnings to grow.
• Earnings per share over the trailing 12 months is 2.69 GBP, with a profit margin of 11.4% and an operating margin of 17.8% — the share of revenue kept as profit at the net and operating levels.
• Dividend yield — annual dividends as a percentage of the share price — is 2.43%, with 63% of earnings paid out as dividends. The ex-dividend date is Oct 15, 2026.
• Market capitalisation is 5.2B GBP, a measure of the total value of all shares.
• Return on equity is 16.6%, showing how effectively shareholder capital generates profit, while the debt-to-equity ratio of 86.8% indicates the level of borrowing relative to equity.
• Revenue over the trailing 12 months is 1.74B GBP, growing 5.1% year over year; the share price is up 3.1% over 52 weeks.

What to watch

As an industrial machinery company, Spirax Group's results tend to follow industrial demand and capital spending cycles across its many end markets, from food and beverage to pharmaceuticals and energy. Currency movements can matter, since the company operates globally but reports in GBP. The next earnings date is Aug 11, 2026, when updated results may move the shares. Investors also commonly track the gap between the trailing 26.2 and forward 19.6 P/E ratios, dividend sustainability given the 63% payout ratio, and how the stock compares with UK industrial peers such as Rolls-Royce Holdings (RR), Melrose Industries (MRO) or Babcock International (BAB).