One-glance verdict
Within fair range
$417.91 our estimate vs market $446.92
Wall Street consensus: $565.73 (35.4% higher than our fair-value estimate)
7% above our estimate
Fundamentals snapshot
Hubbell Incorporated
HUBB · NYQ · Industrials · Electrical Equipment & Parts
Current price
$446.92
52-week range
$403.82 - $565.50
Market cap
$23.61B
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 1.5% above its 5-year average P/E.
What this company does
Hubbell Incorporated
Hubbell makes the crucial nuts and bolts for our electrical systems, selling everything from the large components that utility companies use to manage the power grid to the wiring products used inside commercial buildings. A large part of its business comes from utilities upgrading their infrastructure, which is important because spending on grid modernization and electrification tends to provide a steady stream of demand for its products.
How the company got here
Hubbell was started in 1888 by an inventor named Harvey Hubbell, who created some of the first everyday electrical products like the pull-chain light socket and the detachable electric plug. For many years, the company grew by inventing and making new electrical parts. Starting in the 1960s, Hubbell began to grow by purchasing other companies, a strategy that has continued for decades. This allowed them to expand into new areas like high-voltage equipment and telecommunications gear. More recently, the company has focused on selling off parts of its business, like its commercial and industrial lighting division, to concentrate on more profitable areas.
What it actually does
Hubbell makes the essential, often unseen, nuts and bolts of the electrical world. Think of them as providing the critical infrastructure that allows electricity to be safely and reliably managed, from the power plant all the way to the outlets in your wall. Their products are used in a wide variety of settings, including buildings, construction sites, and by the utility companies that provide power. You'd find their components in data centers, renewable energy projects, and industrial facilities.
Utility Solutions
This part of the company sells products directly to the big power companies (the utilities) that generate and deliver electricity to our homes and businesses. They make the heavy-duty equipment you might see on power lines and at substations (the fenced-in areas with lots of electrical equipment), such as insulators, switches, and connectors. This segment also includes modern technology like smart meters and communication systems that help make the electrical grid more efficient and reliable. This is a major part of Hubbell's business, focused on the large-scale infrastructure of the power grid.
Electrical Solutions
This segment creates the electrical products used inside and around buildings. This includes everything from the wiring, outlets, and junction boxes that an electrician installs in a new office building to specialized, heavy-duty connectors and controls used in factories and hazardous locations like oil rigs. Their customers are typically electrical contractors and industrial companies who buy these products through distributors and home improvement stores. This business is focused on what happens with electricity 'behind the meter'—that is, inside a customer's property.
What management is betting on now
Hubbell's leadership is focused on the big trends of modernizing the aging electrical grid and increasing electrification (the process of replacing technologies that use fossil fuels with those that use electricity). They are investing in products that make the power grid more reliable and resilient, especially as more renewable energy sources and data centers are connected. The company is also actively buying other companies that strengthen its position in these key areas, such as the recent acquisitions of DMC Power and NSI Industries. The overall goal is to be the go-to provider of critical components for a modernizing and expanding energy infrastructure.
Price history
How the share price has moved
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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 $417.91 vs current price $446.92
Wall Street consensus is the average analyst price target: $565.73 (35.4% higher than our fair-value estimate).
Our most-likely fair value is $417.91 a share — about 6.5% away from today's price of $446.92, 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 $8.87B Interest coverage 10.77x -43% vs HUBB Carries about 1.8x less debt cushion than HUBB.
Total debt $3.61B Interest coverage 9.12x -52% vs HUBB Carries about 2.1x less debt cushion than HUBB.
Total debt $2.31B 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 1.5% 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)
26.46x
Forward P/E
19.50x
P/B
6.04x
P/S
3.79x
EV/EBITDA
18.99x
PEG ratio
1.84x
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
16.89
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
1.3%
Payout ratio
33.0%
Last ex-div date
2026-08-31