One-glance verdict
Within fair range
$443.01 our estimate vs market $476.04
Wall Street consensus: $566.30 (27.8% higher than our fair-value estimate)
7% above our estimate
Fundamentals snapshot
Hubbell Incorporated
HUBB · NYQ · Industrials · Electrical Equipment & Parts
Current price
$476.04
52-week range
$403.82 - $565.50
Market cap
$25.15B
Balance sheet
Stretched
18.86x Strong cushion
Net debt $5.16B. Interest coverage shows how many times profit covers the interest bill.
What stands out
3 Rewards
2 Risks
3 rewards · 2 risks
- Reward Revenue grew 2.6% last year.
- Reward Returns 24.4% on equity, ahead of 66% of its peers.
- Risk Net debt grew 80.3% over 3 years.
- Risk Stock trades 8.2% above its 5-year average P/E.
What this company does
Hubbell Incorporated
Hubbell makes the critical, often unseen, parts that keep our lights on, from the large components power companies use to manage the electrical grid to the everyday wiring and outlets used in commercial buildings. The company earns money by selling these essential products for both large-scale utility modernizations and routine construction projects. This is important because as the country uses more electricity for things like data centers and electric vehicles, the need to upgrade our power systems creates steady demand for Hubbell's equipment.
How the company got here
Hubbell was started in 1888 by an inventor named Harvey Hubbell II, who created some of the earliest practical ways to control electricity, like the pull-chain light socket and the electrical plug you still see today. The company grew by inventing and making more and more electrical products, and in 1978, it made a major move into the utility industry by buying a company that made components for power lines. Over the years, Hubbell has continued to acquire other companies to expand its offerings for both the electrical and utility markets. This has turned it into a large, diversified manufacturer of essential electrical and utility hardware.
What it actually does
Hubbell makes the behind-the-scenes hardware that safely manages and directs electricity in buildings and across the power grid. Think of things like the outlets and switches in a new office building, the heavy-duty connectors on power lines, or the smart meters that measure your home's energy use. These are not products you'd typically buy at a retail store; instead, they are sold to electrical contractors, industrial companies, and the big utility companies that provide power. The company's products are considered critical infrastructure, meaning they are essential for the safe and reliable operation of everything from factories to the power grid itself.
Utility Solutions
This part of the business, which makes up a significant portion of the company's sales, creates and sells the rugged components needed to operate the power grid. Its customers are mainly electric utility companies who buy things like insulators, connectors, and switches to build and maintain the transmission and distribution lines that carry electricity from power plants to homes and businesses. This segment also provides the technology to make the grid smarter, such as advanced meters and communication systems that help utilities manage energy flow more efficiently.
Electrical Solutions
This segment provides a wide variety of electrical products for use inside and around buildings and industrial facilities. This includes everything from the wiring devices, outlets, and junction boxes an electrician would install in a new building to specialized, heavy-duty equipment for harsh environments like oil and gas refineries. The customers for these products are typically electrical contractors and industrial companies who buy them through wholesale distributors. This business is focused on providing the essential, reliable components needed to safely connect and manage power within a specific location.
What management is betting on now
The company's leadership is heavily focused on two major trends: modernizing the electrical grid and the broader shift toward electrification (using more electricity for things like cars and heating). They are investing in products that make the power grid more reliable and resilient, such as components that can withstand storms and automation technology. Hubbell is also positioning itself to benefit from increased demand for electricity, which requires more of its components for everything from data centers to renewable energy projects. The strategy involves focusing on these higher-growth areas and making acquisitions (buying other companies) that strengthen their position in critical utility and electrical infrastructure.
How the company got here
Hubbell was started in 1888 by an inventor named Harvey Hubbell II, who created some of the earliest practical ways to control electricity, like the pull-chain light socket and the electrical plug you still see today. The company grew by inventing and making more and more electrical products, and in 1978, it made a major move into the utility industry by buying a company that made components for power lines. Over the years, Hubbell has continued to acquire other companies to expand its offerings for both the electrical and utility markets. This has turned it into a large, diversified manufacturer of essential electrical and utility hardware.
What it actually does
Hubbell makes the behind-the-scenes hardware that safely manages and directs electricity in buildings and across the power grid. Think of things like the outlets and switches in a new office building, the heavy-duty connectors on power lines, or the smart meters that measure your home's energy use. These are not products you'd typically buy at a retail store; instead, they are sold to electrical contractors, industrial companies, and the big utility companies that provide power. The company's products are considered critical infrastructure, meaning they are essential for the safe and reliable operation of everything from factories to the power grid itself.
Utility Solutions
This part of the business, which makes up a significant portion of the company's sales, creates and sells the rugged components needed to operate the power grid. Its customers are mainly electric utility companies who buy things like insulators, connectors, and switches to build and maintain the transmission and distribution lines that carry electricity from power plants to homes and businesses. This segment also provides the technology to make the grid smarter, such as advanced meters and communication systems that help utilities manage energy flow more efficiently.
Electrical Solutions
This segment provides a wide variety of electrical products for use inside and around buildings and industrial facilities. This includes everything from the wiring devices, outlets, and junction boxes an electrician would install in a new building to specialized, heavy-duty equipment for harsh environments like oil and gas refineries. The customers for these products are typically electrical contractors and industrial companies who buy them through wholesale distributors. This business is focused on providing the essential, reliable components needed to safely connect and manage power within a specific location.
What management is betting on now
The company's leadership is heavily focused on two major trends: modernizing the electrical grid and the broader shift toward electrification (using more electricity for things like cars and heating). They are investing in products that make the power grid more reliable and resilient, such as components that can withstand storms and automation technology. Hubbell is also positioning itself to benefit from increased demand for electricity, which requires more of its components for everything from data centers to renewable energy projects. The strategy involves focusing on these higher-growth areas and making acquisitions (buying other companies) that strengthen their position in critical utility and electrical infrastructure.
Price history
How the share price has moved
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Loading price history…
Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q2
$205.70M
FY2024 Q3
$188.80M
FY2024 Q4
$364.40M
FY2025 Q1
$11.40M
FY2025 Q2
$220.70M
FY2025 Q3
$253.80M
FY2025 Q4
$388.80M
FY2026 Q1
$46.00M
Revenue
$1.52B
Net income
$181.80M
Diluted EPS
3.41
Operating cash flow
$86.60M
Free cash flow
$46.00M
Fetching…
Sources
Revenue
$1.49B
Net income
$224.20M
Diluted EPS
4.19
Operating cash flow
$447.50M
Free cash flow
$388.80M
Fetching…
Sources
Revenue
$1.50B
Net income
$255.50M
Diluted EPS
4.77
Operating cash flow
$284.30M
Free cash flow
$253.80M
Fetching…
Sources
Revenue
$1.48B
Net income
$244.20M
Diluted EPS
4.56
Operating cash flow
$260.60M
Free cash flow
$220.70M
Fetching…
Sources
Revenue
$1.37B
Net income
$169.70M
Diluted EPS
3.15
Operating cash flow
$37.40M
Free cash flow
$11.40M
Fetching…
Sources
Revenue
$1.33B
Net income
$198.20M
Diluted EPS
3.66
Operating cash flow
$432.40M
Free cash flow
$364.40M
Fetching…
Sources
Revenue
$1.44B
Net income
$219.40M
Diluted EPS
4.05
Operating cash flow
$227.00M
Free cash flow
$188.80M
Fetching…
Sources
Revenue
$1.45B
Net income
$213.60M
Diluted EPS
3.94
Operating cash flow
$239.60M
Free cash flow
$205.70M
Fetching…
Sources
Is it cheap or expensive?
Fair value $443.01 vs current price $476.04
Wall Street consensus is the average analyst price target: $566.30 (27.8% higher than our fair-value estimate).
Our most-likely fair value is $443.01 a share — about 6.9% away from today's price of $476.04, so the stock currently looks fairly priced.
Is it drowning in debt?
Stretched
Net debt $5.2B. Interest coverage 18.9x.
Net debt
$5.16B
Interest coverage
18.86x
Hubbell Incorporated's profit covers its interest bill about 18.9 times over. which is stronger than most peers shown here.
Stretched
Worse cushion
Baseline
Better cushion
HUBB
BASELINE
Hubbell Incorporated
Total debt $5.56B Interest coverage 18.86x This is the baseline the peer rows are being compared against.
Total debt $1.63B Interest coverage 8.22x -56% vs HUBB Carries about 2.3x less debt cushion than HUBB.
Total debt $4.91B Interest coverage 5.95x -68% vs HUBB Carries about 3.2x less debt cushion than HUBB.
Total debt $8.89B Interest coverage 10.77x -43% vs HUBB Carries about 1.8x less debt cushion than HUBB.
Total debt $4.05B Interest coverage 9.12x -52% vs HUBB Carries about 2.1x less debt cushion than HUBB.
Total debt $2.46B Interest coverage 23.51x +25% vs HUBB Carries about 1.2x more debt cushion than HUBB.
What you should know
The case for and against HUBB
3 Rewards
2 Risks
Rewards
-
Revenue grew 2.6% last year.
-
Returns 24.4% on equity, ahead of 66% of its peers.
-
Free cash flow was positive in 10/10 years.
Risks
-
Net debt grew 80.3% over 3 years.
-
Stock trades 8.2% above its 5-year average P/E.
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
28.22x
Forward P/E
20.81x
P/B
6.44x
P/S
4.04x
EV/EBITDA
19.89x
PEG ratio
2.22x
Profitability
How much profit each dollar creates
Gross margin
35.3%
Operating margin
21.7%
Net margin
14.5%
ROE
24.4%
ROA
8.4%
Health
Liquidity and balance-sheet strength
Debt / equity
1.42x
Current ratio
1.61x
Quick ratio
0.83x
Total debt
$5.56B
Total cash
$394.70M
Growth
How the business has been compounding
Revenue TTM
$6.00B
Revenue 5Y CAGR
8.6%
EPS TTM
16.87
EPS 5Y CAGR
20.6%
Cash flow
How much cash the business throws off
Operating CF TTM
$1.08B
Free CF TTM
$874.70M
FCF margin
14.6%
Dividend
Shareholder payout
Yield
1.2%
Payout ratio
33.0%
Last ex-div date
2026-08-31