nVent Electric plc

Listed Company

NVTCIK 0001720635NYSELarge AcceleratedSpecial Industry Machinery (No Metalworking Machinery)L2FY ends Dec 31

Period

FY 2025

Revenue

$3.89B

Net Income

$710.20M

Total Assets

$6.85B

Equity

$3.73B

Shares Out

161.73M

Op. Cash Flow

$465.20M

Business

nVent Electric plc is a global provider of systems protection and electrical connection solutions that design, manufacture, market, install and service products to connect and protect critical electrical systems. It offers a comprehensive portfolio including cable management, enclosures, control buildings, liquid and air cooling solutions, electrical and power connections, equipment protection and power management products and services. nVent operates through two reporting segments: Enclosures (to be renamed Systems Protection) and Electrical & Fastening Solutions (to be renamed Electrical Connections). The company sells globally through regional manufacturing, distributors, retail, contractors, OEMs and utilities, serving industrial, infrastructure, commercial, residential and energy markets.

Summary from filing dated 2025-02-18

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	3,893	3,006	2,669	2,295	2,462
Cost of goods sold(1)	2,424	1,797	1,594	1,472	1,520
Gross profit	1,469	1,209	1,075	823	942
Selling, general and administrative	774	616	557	468	538
Research and development	79	66	55	46	49
Operating income	617	527	463	309	355
Net interest expense	75	106	79	31	—
Gain on sale of investment	0	0	−10	0	0
Other expense (income)	−8	−8	18	−59	−13
Income before income taxes	550	429	375	336	321
Provision (benefit) for income taxes	122	188	−84	43	48
Net income from continuing operations	429	241	460	293	—
Income from discontinued operations, net of tax	282	91	107	107	—
Net income	710	332	567	400	273
Changes in cumulative translation adjustment (2025 includes $92.7 million reclassified to gain on sale included in Income from discontinued operations, net of tax)	127	−44	11	−19	4
Changes in market value of derivative financial instruments, net of tax	−14	3	−15	2	8
Comprehensive income attributable to nVent	823	291	563	383	285
Discontinued operations (in dollars per share)	1.73	0.55	0.64	0.64	—
Continuing operations (in dollars per share)	2.63	1.45	2.78	1.76	—
Basic (dollars per share)	4.36	2	3.42	2.4	1.63
Continuing operations (in dollars per share)	2.6	1.43	2.73	1.74	—
Discontinued operations (in dollars per share)	1.71	0.54	0.64	0.64	—
Diluted (dollars per share)	4.31	1.97	3.37	2.38	1.61
Basic (shares)	162	166	166	166	168
Diluted (shares)	165	168	168	168	170

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	238	131	180	290	44
Accounts and notes receivable, net of allowances of $13.7 and $14.3, respectively	693	473	470	473	438
Inventories	472	360	360	347	322
Other current assets	237	124	73	113	102
Current assets held for sale	0	301	254	—	—
Total current assets	1,640	1,389	1,336	1,229	912
Property, plant and equipment, net	435	348	320	289	291
Goodwill	2,678	2,222	1,858	1,466	2,187
Intangibles, net	1,877	1,587	1,351	1,066	1,144
Other non-current assets	223	214	303	140	141
Non-current assets held for sale	0	975	995	—	—
Total other assets	4,778	4,998	4,506	3,384	3,472
Total assets	6,852	6,735	6,162	4,902	4,674
Current maturities of long-term debt and short-term borrowings	14	38	32	15	5
Accounts payable	359	280	240	252	261
Employee compensation and benefits	157	95	103	109	114
Other current liabilities	474	267	245	273	256
Current liabilities held for sale	0	123	115	—	—
Total current liabilities	1,004	802	734	650	636
Long-term debt	1,546	2,118	1,749	1,068	994
Pension and other post-retirement compensation and benefits	136	132	140	129	208
Deferred tax liabilities	232	243	190	200	210
Other non-current liabilities	205	158	159	125	129
Non-current liabilities held for sale	0	46	48	—	—
Total liabilities	3,122	3,497	3,020	2,171	2,178
Ordinary shares $0.01 par value, 400.0 million authorized, 161.7 million and 165.0 million issued at December 31, 2025 and 2024, respectively	2	2	2	2	2
Additional paid-in capital	2,072	2,272	2,339	2,372	2,403
Retained earnings	1,688	1,109	905	457	175
Accumulated other comprehensive loss	−31	−144	−104	−100	−83
Total equity	3,730	3,238	3,142	2,732	2,496
Total liabilities and equity	6,852	6,735	6,162	4,902	4,674

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation	61	51	44	36	41
Intangible asset amortization	147	95	70	50	68
Deferred income taxes	11	85	−166	−11	−19
Share-based compensation	38	27	22	23	17
Impairment of equity investments	0	9	0	0	0
Release of guarantee liability	0	−13	0	0	—
Amortization of bridge financing debt issuance costs	0	2	4	0	0
Pension and other post-retirement (income) expense	−7	5	20	−58	−10
Pension and other post-retirement contributions	−5	−5	−5	−4	−7
Accounts and notes receivable	−112	39	−22	−42	−104
Inventories	−79	−600,000	22	−21	−74
Other current assets	−4	−10	−11	3	−8
Contract assets and liabilities	39	−16	5	—	—
Accounts payable	57	2	8	−5	74
Employee compensation and benefits	49	−11	3	−4	44
Other current liabilities	27	800,000	−6	22	59
Other non-current assets and liabilities	−500,000	−1	−13	−9	4
Net cash provided by (used for) operating activities of continuing operations	649	501	422	273	—
Net cash provided by (used for) operating activities of discontinued operations	−184	142	106	121	—
Net cash provided by (used for) operating activities of continuing operations	465	643	528	395	373
Capital expenditures	−93	−74	−66	−41	−40
Proceeds from sale of property and equipment	5	500,000	100,000	2	600,000
Proceeds from sale of investment	0	0	14	0	0
Settlement of net investment hedge	0	400,000	5	0	0
Acquisitions, net of cash acquired	−976	−678	−1,120	−9	−235
Net cash provided by (used for) investing activities of continuing operations	−1,064	−751	−1,167	−47	—
Net cash provided by (used for) investing activities of discontinued operations	1,585	−8	2	−5	—
Net cash provided by (used for) investing activities	521	−758	−1,165	−53	−274
Proceeds from long-term debt	275	500	800	200	300
Repayments of long-term debt	−873	−127	−101	−10	−319
Debt issuance costs	−2	−4	−11	0	−5
Dividends paid	−130	−127	−117	−117	−118
Shares issued to employees, net of shares withheld	15	3	2	8	20
Repurchases of ordinary shares	−253	−100	−61	−66	−112
Net cash provided by (used for) financing activities	−968	146	517	−82	−167
Effect of exchange rate changes on cash and cash equivalents	30	−26	8	−12	−6
Change in cash and cash equivalents	48	5	−112	248	−73
Cash paid for interest, net	106	135	103	49	43
Cash paid for income taxes, net	283	120	112	87	61

Filings

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