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nVent ElectricNVT

Legal name
nVent Electric plc
Sector
Industrial
Industry
Special Industry Machinery (No Metalworking Machinery)
Exchange
NYSE

Stock Price $NVT

Latest filings

You are here#82 of 87 in Industrials by market cap

Filing record · 2018–202610-K910-Q278-K80

NVT filed 9 annual reports (10-K), 27 quarterly reports (10-Q) and 80 current reports (8-K) between 2018 and 2026.

  1. Leadership change8-K · Dec ’18Dec ’18
  2. Leadership change8-K · Mar ’21Mar ’21
  3. FY2025 annual report10-K · Feb ’26Feb ’26

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  10. $3.89B
YoY changeLargest recent move+23.2%in FY21Latest +29.5%

Latest bar from 10-KFY2025Click a bar to open its SEC filing

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All NVT Financial Metrics55 metrics

Income Statement15

Balance Sheet21

Cash Flow14

Per Share5

02—Overview

nVent Electric Financial Overview 2021–2025

Updated Nov 4, 2026

nVent's backlog more than tripled in FY2025, jumping to $2.35 billiona from $749.3 million a year earlier. That matters because it shows demand, led by data centers, is running well ahead of what the company ships today. The thesis: nVent has become a faster-growing electrical infrastructure business, and the price of that growth is thinner gross margins.

Revenue grew from $2,462.0 million in FY2021 to $3,893.1 millionb in FY2025. Growth in FY2025 was 29.5%, with 12.6 points organic and 16.3 points from acquisitions. Systems Protection sales rose 42.2% to $2.59 billion. Operating income climbed 17.0% to $616.8 million. Gross margin, however, fell to 37.7% from 40.2% on tariffs and labor inflation. That is slightly below the 38.3% of FY2021, so five years of growth have not widened profitability at the gross line.

The balance sheet improved. Total debt fell to $1.56 billionc from $2.16 billion, free cash flow from continuing operations rose to $561.0 million from $427.5 million, and buybacks totaled $253.1 million. Net income of $710.2 million includes $281.7 million from the Thermal Management sale, so read continuing income of $428.5 million as the cleaner figure. At the close of FY2025, the shares traded at $101.97, or 23.7x earnings on $4.31 of EPS.

Recent Developments (Q2 and Q3 2026)

nVent's growth accelerated sharply in Q2 2026 and Q3 2026. Sales rose 52.8% to $1,471.3 milliond in Q2, then 43.7% to $1,514.9 million in Q3, led by data centers. Operating margin widened to 18.6% in Q3 from 15.8%, yet gross margin slipped to 35.8% from 37.4%. Management raised full-year adjusted EPS guidance twice, ending at $5.36 to $5.39. The company closed the $1.75 billion Maverick Power acquisition on October 1, 2026, adding about $1.65 billion of debt. Total debt was $2.2 billion at Q3 before that financing.

The bull case: demand is visible, with $2.6 billione of remaining performance obligations and $489.0 million of nine-month free cash flow. The bear case: gross margin is eroding and leverage is rising. At $125.98, or 29.2x earnings as of October 29, 2026, the shares are priced for continued execution.

What to watch: gross margin trend as Maverick Power is integrated; progress on paying down acquisition debt

03—Filings

Recent SEC Filings

  1. 8-KnVent Electric 8-K Report, Financial Results (Oct 30, 2026)nVent Electric plc furnished an 8-K (Item 2.02) attaching a press release announcing third-quarter 2026 results, which the company described as record sales and orders. Reported sales were $1.5 billion (about $1,514.9 million), up 44% on both a reported and organic basis, with the release stating that broad-based double-digit growth occurred across all verticals and geographies. Reported diluted EPS was $1.23, up 68%, and adjusted EPS was $1.52, up 67%. Operating income was $282 million, up 70%, and adjusted operating income was $335 million, up 57%. Management said new products contributed approximately 30 points to sales growth. Cash flow from operations was $303 million, up 12%, and free cash flow was $268 million, up 6%. nVent raised its full-year 2026 guidance. It now expects reported sales growth of 48% to 49% (previously 37% to 39%), organic sales growth of 38% to 39% (previously 32% to 34%), GAAP diluted EPS of $4.54 to $4.57 (previously $4.29 to $4.39), and adjusted EPS of $5.36 to $5.39 (previously $5.00 to $5.10). For the fourth quarter, the company guided to reported sales growth of 45% to 48%, organic sales growth of 26% to 29%, GAAP EPS of $1.13 to $1.16, and adjusted EPS of $1.30 to $1.33. The company stated that it closed the Maverick Power acquisition on October 1, 2026, which it said broadens its data center exposure. Results are presented on a continuing operations basis, with the Thermal Management business reported as discontinued operations under a previously announced sale agreement. The filing also notes a regular quarterly cash dividend of $0.21 per share payable on November 6, 2026, and a conference call held at 9:00 a.m. ET on October 30, 2026. The press release is furnished under Item 2.02 as Exhibit 99.1.
  2. 8-KnVent Electric 8-K Report, Financial Obligation (Sep 29, 2026)On September 29, 2026, nVent Electric plc, together with Hoffman Schroff Holdings, Inc. and nVent Finance S.à r.l., completed a public offering of $800.0 million aggregate principal amount of 6.150% Senior Notes due 2036, issued by Hoffman Schroff Holdings, Inc. The notes are fully and unconditionally and jointly and severally guaranteed as to payment of principal and interest by nVent Electric plc and nVent Finance S.à r.l. Interest is payable semi-annually on March 15 and September 15, beginning March 15, 2027, and the rate is subject to adjustment based on certain rating events. The notes were registered under a Form S-3 filed February 17, 2026. The company states it intends to use the net proceeds, together with borrowings under a $600.0 million senior unsecured term loan facility, borrowings under a $250.0 million specified revolving facility, and cash on hand, to finance the acquisition of Maverick Power, LLC for approximately $1.75 billion, and to pay related fees and expenses. Any remaining net proceeds may be used for general corporate purposes. The Maverick Power acquisition is governed by a Membership Interest Purchase Agreement dated August 21, 2026, with an outside date of November 20, 2026, extendable to February 19, 2027. If the Maverick Power acquisition is not consummated by the outside date, is not expected to be consummated, or the purchase agreement is terminated, Hoffman Schroff must redeem all outstanding notes at 101% of principal plus accrued interest. The notes also carry a make-whole redemption before June 15, 2036, a par call thereafter, and a 101% change-of-control repurchase offer, and the filing describes customary events of default.
  3. 8-KnVent Electric 8-K Report, Financial Obligation (Sep 17, 2026)nVent Electric plc (NVT) entered into a $600.0 million senior unsecured term loan facility on September 17, 2026, to help finance its previously announced acquisition of Maverick Power, LLC. The acquisition is being made by its subsidiary Hoffman Schroff Holdings, Inc. under a Membership Interest Purchase Agreement dated August 21, 2026, for a purchase price of $1.75 billion, subject to customary adjustments. Hoffman intends to borrow the full $600.0 million, either to fund part of the purchase price or to pay related fees and expenses. No loans were outstanding on the effective date. The term loan is guaranteed by nVent and nVent Finance S.à r.l. and bears interest at a base rate or term SOFR plus an applicable margin tied to either nVent's Net Leverage Ratio or Hoffman's debt rating. Ticking fees of 0.10% to 0.20% per annum on undrawn commitments begin December 19, 2026. The facility matures on the third anniversary of the date the term loans are made and can be prepaid without penalty, subject to customary breakage costs. Its financial covenants require a consolidated debt-to-EBITDA ratio of no more than 3.75 to 1.00 (or 4.25 to 1.00 for four testing periods in connection with certain material acquisitions at Hoffman's election) and an EBITDA-to-cash-interest ratio of at least 3.00 to 1.00. Separately, Amendment No. 2 to the Second Amended and Restated Credit Agreement dated June 30, 2025 adds limited conditionality to a $250.0 million revolving credit sublimit that can also be used to finance part of the acquisition. The overall credit agreement remains at up to $875.0 million in aggregate. Funding under both facilities is conditioned on the acquisition closing, the absence of a material adverse effect at Maverick Power since August 21, 2026, and other customary conditions. The Loan Agreement and the Amendment are filed as Exhibits 4.1 and 4.2.
  4. 8-KnVent Electric 8-K Report, Corporate Update (Sep 16, 2026)nVent Electric plc (NVT) reported in this Form 8-K, filed September 16, 2026, that on September 15, 2026 it, Hoffman Schroff Holdings, Inc. and nVent Finance S.à r.l. entered into an Underwriting Agreement with BofA Securities, Inc., Citigroup Global Markets Inc. and J.P. Morgan Securities LLC, as representatives of the underwriters. Under the agreement, Hoffman Schroff agreed to sell $800.0 million aggregate principal amount of its 6.150% Senior Notes due 2036 in a public offering. The Notes will be fully and unconditionally and jointly and severally guaranteed as to payment of principal and interest by nVent Electric plc and nVent Finance S.à r.l. The offering is expected to close on September 29, 2026, subject to customary closing conditions. The Notes are being registered under a Form S-3 registration statement (Registration Nos. 333-293530, 333-293530-01 and 333-293530-02) filed with the SEC on February 17, 2026, and the company is filing the Underwriting Agreement with this report for purposes of that registration statement. For investors, the filing is a debt-financing disclosure: it establishes the size, coupon, maturity and guarantee structure of the new notes but does not describe the use of proceeds or any other financial results.
  5. 8-KnVent Electric 8-K Report, Corporate Update (Sep 15, 2026)nVent Electric plc (NVT) filed this Current Report on Form 8-K on September 15, 2026, disclosing under Item 8.01 the information in Exhibit 99.1 regarding its proposed acquisition of Maverick Power, LLC. On August 21, 2026, the company entered into a membership interest purchase agreement under which its subsidiary Hoffman Schroff Holdings, Inc. will acquire Maverick Power for an aggregate purchase price of $1.75 billion, subject to customary adjustments, plus potential additional cash consideration of up to $550 million based on performance metrics in 2027 and 2028. Maverick Power is a manufacturer of engineered power distribution and infrastructure solutions for data centers, headquartered in McKinney, Texas, with about 900 employees and revenues of approximately $527 million in the twelve months ended June 30, 2026. The closing is expected in the fourth quarter of 2026, subject to customary conditions including regulatory approvals. To fund the acquisition, the company describes a planned offering of notes, a new $600.0 million senior unsecured delayed draw term loan facility with a three-year maturity, and a $250.0 million conditionality draw under an amended revolving credit facility, with a $1,500.0 million senior unsecured bridge facility committed as a backstop. The filing states that the company expects total new indebtedness of approximately $1,650.0 million in connection with the acquisition, compared with $1,500.0 million of total consolidated debt as of June 30, 2026. The company notes that its indebtedness will increase materially and that the new term loan and revolving financing are not assured. The filing also lists risks including integration, unknown liabilities, and leverage-related constraints.
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04—See also

Related Companies

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