Hubbell
HUBB · NYSEElectronic Components & Accessories · Fiscal year ends Dec 31
Hubbell reported revenue of $5.8B in the fiscal year ended Dec 2025, up 3.8% from the year before. Operating income was $1.2B, an operating margin of 20.7%, and net income was $887M. Operating cash flow of $1B less capital expenditure of $155M left free cash flow of $875M. Net debt was $1.8B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | $4.2B | $4.9B | $5.4B | $5.6B | $5.8B |
| Cost of revenue | $3B | $3.5B | $3.5B | $3.7B | $3.8B |
| Gross profit | $1.2B | $1.5B | $1.9B | $1.9B | $2.1B |
| Selling, general & admin | $619M | $763M | $850M | $813M | $855M |
| Operating income | $532M | $709M | $1B | $1.1B | $1.2B |
| Net interest incomeBanks | −$55M | −$50M | −$37M | – | – |
| Pre-tax income | $459M | $657M | $972M | $1B | $1.1B |
| Income tax | $88M | $140M | $215M | $222M | $227M |
| Net income | $400M | $546M | $751M | $779M | $887M |
| Diluted EPS | 7.28 | 10.07 | 13.89 | 14.39 | 16.54 |
| Diluted shares | 55M | 54M | 54M | 54M | 54M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $286M | $441M | $336M | $329M | $483M |
| Receivables | $675M | $742M | $785M | $756M | $857M |
| Inventory | $662M | $741M | $833M | $1B | $1.1B |
| Current assets | $1.9B | $2B | $2.2B | $2.3B | $2.6B |
| Net PP&E | $460M | $528M | $653M | $727M | $841M |
| Goodwill | $1.9B | $2B | $2.5B | $2.5B | $3.1B |
| Total assets | $5.3B | $5.4B | $7.1B | $6.8B | $8.2B |
| Payables | $533M | $530M | $564M | $542M | $571M |
| Deferred revenue | $17M | $46M | $112M | $135M | $161M |
| Current liabilities | $1.1B | $1.1B | $1.3B | $1.3B | $1.5B |
| Short-term debt | $10M | $5M | $15M | $125M | $289M |
| Long-term debt | $1.4B | $1.4B | $2B | $1.4B | $2B |
| Total liabilities | $3B | $3B | $4B | $3.4B | $4.4B |
| Shareholders' equity | $2.2B | $2.4B | $2.9B | $3.4B | $3.8B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $514M | $636M | $881M | $991M | $1B |
| Capital expenditure | $90M | $129M | $166M | $180M | $155M |
| Free cash flow | $424M | $507M | $715M | $811M | $875M |
| Depreciation & amortisation | $149M | $149M | $150M | $212M | $206M |
| Stock-based compensation | $18M | $25M | $27M | $31M | $33M |
| Acquisitions | −$100,000 | $177M | $1.2B | −$6M | $958M |
| Share buybacks | $11M | $182M | $30M | $40M | $225M |
| Dividend per share | 3.99 | 4.27 | 4.58 | 4.98 | 5.38 |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 18.0% | 8.6% | 4.8% | 3.8% |
| Operating income growth (YoY) | – | 33.2% | 44.9% | 6.4% | 10.6% |
| EPS growth (YoY) | – | 38.3% | 37.9% | 3.6% | 14.9% |
| Gross margin | 27.5% | 29.7% | 34.9% | 33.9% | 35.3% |
| Operating margin | 12.7% | 14.3% | 19.1% | 19.4% | 20.7% |
| Net margin | 9.5% | 11.0% | 14.0% | 13.8% | 15.2% |
| Return on equityBlank when equity is negative | 17.9% | 23.1% | 26.1% | 22.9% | 23.1% |
| ROCEEBIT ÷ (assets − current liabilities) | 12.6% | 16.4% | 17.8% | 19.6% | 18.0% |
| Free cash flow margin | 10.1% | 10.2% | 13.3% | 14.4% | 15.0% |
| Cash conversion (CFO ÷ net income) | 1.29x | 1.17x | 1.17x | 1.27x | 1.16x |
| Receivable days | 59 | 55 | 53 | 49 | 54 |
| Inventory days | 79 | 78 | 87 | 99 | 105 |
| Payable days | 64 | 56 | 59 | 53 | 55 |
| Debt ÷ equity | 0.65x | 0.61x | 0.71x | 0.46x | 0.60x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $1.2B | $1B | $1.7B | $1.2B | $1.8B |
| Current ratio | 1.76x | 1.86x | 1.64x | 1.77x | 1.72x |
Recent filings
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.