Powell Industries Inc. (POWL) financial statements: income statement, balance sheet and cash flow

Powell Industries Inc.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Sep 30, 2025 · FY), Powell Industries Inc. reported revenue of $1.1B (+9.1% year on year) and net income of $180.7M (+20.6% year on year).

Income statement

Powell Industries Inc. income statement, fiscal years

Line item	Sep 30, 2025 · FY	Sep 30, 2024 · FY	Sep 30, 2023 · FY	Sep 30, 2022 · FY
Revenues	$1.1B	$1.0B	$699.3M	$532.6M
Cost of goods sold	$779.9M	$739.3M	$551.8M	$447.6M
Gross profit	$324.4M	$273.1M	$147.6M	$85.0M
Selling, general and administrative expenses	$95.4M	$84.9M	$78.8M	$70.8M
Research and development expenses	$11.0M	$9.4M	$6.2M	$7.0M
Amortization of intangible assets	$112.0K	—	$0	$0
Operating income	$217.9M	$178.8M	$62.5M	$7.2M
Interest income, net	($15.7M)	($17.3M)	($6.4M)	($334.0K)
Income before income taxes	$233.6M	$196.1M	$69.0M	$9.8M
Income tax provision	$52.8M	$46.2M	$14.4M	($3.9M)
Net income	$180.7M	$149.8M	$54.5M	$13.7M
Basic (in dollars per share)	$14.98	$12.51	$4.59	$1.16
Diluted (in dollars per share)	$14.86	$12.29	$4.50	$1.15
Basic (in shares)	12.1M	12.0M	11.9M	11.8M
Diluted (in shares)	12.2M	12.2M	12.1M	11.9M
Dividends per share (in dollars per share)	$1.07	$1.06	$1.05	$1.04

Powell Industries Inc. income statement, quarters

Line item	Jun 30, 2026 · Q3	Mar 31, 2026 · Q2	Dec 31, 2025 · Q1	Jun 30, 2025 · Q3
Revenues	$311.7M	$296.6M	$251.2M	$286.3M
Cost of goods sold	$216.4M	$208.7M	$179.8M	$198.4M
Gross profit	$95.3M	$87.9M	$71.4M	$87.9M
Selling, general and administrative expenses	$26.7M	$25.8M	$25.2M	$25.1M
Research and development expenses	$4.3M	$4.3M	$3.3M	$2.7M
Amortization of intangible assets	$221.0K	$223.0K	$222.0K	—
Operating income	$64.1M	$57.6M	$42.8M	$60.1M
Interest income, net	($5.0M)	($4.2M)	($4.3M)	($4.0M)
Income before income taxes	$69.1M	$61.8M	$47.0M	$64.1M
Income tax provision	$17.0M	$15.9M	$5.6M	$15.9M
Net income	$52.2M	$45.9M	$41.4M	$48.2M
Basic (in dollars per share)	$1.43	$1.26	$3.42	$4.00
Diluted (in dollars per share)	$1.42	$1.25	$3.40	$3.96
Basic (in shares)	36.4M	36.4M	12.1M	12.1M
Diluted (in shares)	36.6M	36.6M	12.2M	12.2M
Dividends per share (in dollars per share)	$0.09	$0.09	$0.27	$0.27

Balance sheet

Powell Industries Inc. balance sheet, fiscal years

Line item	Sep 30, 2025 · FY	Sep 30, 2024 · FY	Sep 30, 2023 · FY	Sep 30, 2022 · FY
Cash and cash equivalents	$450.7M	$315.3M	$245.9M	$102.0M
Short-term investments	$24.8M	$43.1M	$33.1M	$14.6M
Accounts receivable, less allowance for credit losses of $368 and $414, respectively	$217.1M	$214.4M	$206.6M	$106.1M
Contract assets	$136.7M	$102.8M	$60.6M	$88.4M
Inventories	$84.7M	$85.9M	$63.9M	$50.4M
Prepaid expenses	$10.6M	$7.5M	$5.4M	$4.7M
Other current assets	$7.1M	$7.4M	$6.4M	$3.8M
Total Current Assets	$931.7M	$776.5M	$622.0M	$370.0M
Property, plant and equipment, net	$111.0M	$103.4M	$97.6M	$98.6M
Operating lease assets, net	$1.7M	$1.2M	$1.4M	$2.2M
Goodwill	$6.1M	—	—	—
Intangible assets, net	$6.1M	—	—	—
Deferred income tax assets	$33.4M	$27.2M	$17.1M	$9.2M
Other assets	$18.9M	$18.3M	$13.1M	$12.4M
Total Assets	$1.1B	$928.2M	$752.2M	$493.4M
Accounts payable	$67.1M	$73.6M	$56.7M	$63.4M
Contract liabilities	$297.9M	$287.8M	$279.8M	$79.9M
Accrued compensation and benefits	$39.2M	$33.8M	$29.9M	$24.8M
Accrued product warranty	$6.4M	$5.8M	$3.3M	$2.3M
Current operating lease liabilities	$882.0K	$595.0K	$773.0K	$1.8M
Income taxes payable	$11.0M	$9.0M	$6.5M	$1.7M
Other current liabilities	$23.9M	$17.4M	$18.7M	$12.5M
Total Current Liabilities	$446.4M	$428.0M	$395.7M	$186.4M
Deferred compensation (Note J)	$13.7M	$12.0M	$9.1M	$7.7M
Long-term operating lease liabilities	$782.0K	$621.0K	$663.0K	$545.0K
Deferred income tax liabilities	$5.3M	$2.7M	—	—
Other long-term liabilities	$2.0M	$1.7M	$1.7M	$1.5M
Total Liabilities	$468.2M	$445.1M	$407.2M	$196.2M
Preferred stock, par value $0.01; 5,000,000 shares authorized; none issued	0	0	0	0
Common stock, par value $0.01; 30,000,000 shares authorized; Shares issued: 12,876,196 and 12,795,256, respectively Shares outstanding: 12,070,178 and 11,989,238, respectively	129.0K	128.0K	127.0K	126.0K
Additional paid-in capital	$62.8M	$70.1M	$71.5M	$67.4M
Retained earnings	$629.8M	$462.2M	$325.3M	$283.6M
Treasury stock, 806,018 shares at cost	-25.0M	-25.0M	-25.0M	-25.0M
Accumulated other comprehensive loss	($27.0M)	($24.4M)	($26.9M)	($29.0M)
Total Stockholders’ Equity	$640.8M	$483.1M	$345.0M	$297.2M
Total Liabilities and Stockholders’ Equity	$1.1B	$928.2M	$752.2M	$493.4M

Powell Industries Inc. balance sheet, quarters

Line item	Jun 30, 2026	Mar 31, 2026	Dec 31, 2025	Jun 30, 2025
Cash and cash equivalents	$633.6M	$537.7M	$490.6M	$398.5M
Short-term investments	$0	$7.2M	$10.2M	$34.6M
Accounts receivable, less allowance for credit losses of $435 and $368, respectively	$362.4M	$238.3M	$189.6M	$211.6M
Contract assets	$116.0M	$113.3M	$121.5M	$133.0M
Inventories	$95.4M	$86.3M	$85.0M	$88.5M
Prepaid expenses	$13.2M	$12.7M	$14.8M	$7.2M
Other current assets	$10.6M	$12.8M	$8.4M	$6.7M
Total Current Assets	$1.2B	$1.0B	$920.1M	$880.2M
Property, plant and equipment, net	$118.6M	$111.8M	$111.8M	$109.4M
Operating lease assets, net	$2.5M	$2.0M	$1.5M	$1.2M
Goodwill	$6.0M	$6.0M	$6.1M	—
Intangible assets, net	$5.4M	$5.6M	$5.9M	—
Deferred income tax assets	$21.8M	$26.3M	$29.9M	$31.3M
Other assets	$21.1M	$20.0M	$19.0M	$18.7M
Total Assets	$1.4B	$1.2B	$1.1B	$1.0B
Accounts payable	$86.6M	$75.1M	$48.2M	$66.2M
Contract liabilities	$466.4M	$314.5M	$302.1M	$299.5M
Accrued compensation and benefits	$32.3M	$24.3M	$14.1M	$28.4M
Accrued product warranty	$6.6M	$6.6M	$6.7M	$6.1M
Current operating lease liabilities	$947.0K	$880.0K	$796.0K	$610.0K
Income taxes payable	$2.4M	$3.4M	$4.8M	$6.5M
Other current liabilities	$29.4M	$22.5M	$24.9M	$20.1M
Total Current Liabilities	$624.6M	$447.3M	$401.6M	$427.3M
Deferred compensation	$16.9M	$14.8M	$15.4M	$13.4M
Long-term operating lease liabilities	$1.6M	$1.1M	$662.0K	$614.0K
Deferred income tax liabilities	$5.2M	$5.3M	$5.4M	$3.9M
Other long-term liabilities	$2.2M	$2.5M	$2.4M	$2.1M
Total Liabilities	$650.5M	$471.0M	$425.5M	$447.3M
Preferred stock, par value $0.01; 5,000,000 shares authorized; none issued	0	0	0	0
Common stock, par value $0.01; 90,000,000 shares authorized; Shares issued: 38,850,618 and 38,628,588, respectively Shares outstanding: 36,432,564 and 36,210,534, respectively	388.0K	129.0K	129.0K	129.0K
Additional paid-in capital	$52.5M	$51.5M	$50.7M	$62.1M
Retained earnings	$759.4M	$710.5M	$667.9M	$581.7M
Treasury stock, 2,418,054 shares at cost	-25.0M	-25.0M	-25.0M	—
Accumulated other comprehensive loss	($31.1M)	($28.1M)	($24.9M)	($24.0M)
Total Stockholders’ Equity	$756.2M	$709.1M	$668.9M	$594.9M
Total Liabilities and Stockholders’ Equity	$1.4B	$1.2B	$1.1B	$1.0B

Cash flow statement

Powell Industries Inc. cash flow statement, fiscal years

Line item	Sep 30, 2025 · FY	Sep 30, 2024 · FY	Sep 30, 2023 · FY	Sep 30, 2022 · FY
Net income	$180.7M	$149.8M	$54.5M	$13.7M
Depreciation and amortization	$7.3M	—	$8.6M	$9.4M
Stock-based compensation	$4.6M	$4.7M	$4.6M	$4.1M
Unrealized mark-to-market gain on derivative contracts	($234.0K)	($326.0K)	—	—
Bad debt expense (recovery), net	($3.0K)	$278.0K	($54.0K)	$162.0K
Deferred income taxes	($4.9M)	($7.5M)	($7.8M)	($4.9M)
Accounts receivable, net	($2.4M)	($7.3M)	($99.7M)	($31.6M)
Contract assets and liabilities, net	($23.5M)	($34.7M)	$227.6M	$3.1M
Inventories	$3.0M	($21.8M)	($13.3M)	($21.4M)
Income taxes	$1.2M	$2.5M	$4.8M	$688.0K
Prepaid expenses and other current assets	($1.7M)	($3.1M)	($3.3M)	($2.6M)
Accounts payable	($7.5M)	$16.3M	($6.2M)	$18.6M
Accrued liabilities	$9.7M	$5.0M	$11.7M	$8.9M
Other, net	$1.6M	($2.2M)	$999.0K	$258.0K
Net cash provided by operating activities	$167.9M	$108.7M	$182.6M	($3.6M)
Purchases of short-term investments	($37.3M)	($42.9M)	($33.5M)	($22.4M)
Maturities of short-term investments	$53.5M	$33.1M	$14.7M	$26.3M
Cash paid for business acquisition, net of cash acquired	($11.5M)	—	—	—
Purchases of property, plant and equipment	($13.1M)	($12.0M)	($7.8M)	($2.5M)
Proceeds from sale of property, plant and equipment	$20.0K	$107.0K	$12.0K	$629.0K
Purchase of intangible assets	$0	($250.0K)	—	—
Net cash used in investing activities	($8.3M)	($21.9M)	($26.6M)	$6.5M
Shares withheld in lieu of employee tax withholding	-12.2M	-6.6M	-652.0K	-675.0K
Dividends paid	($12.9M)	($12.7M)	($12.4M)	($12.2M)
Net cash used in financing activities	($25.1M)	($19.3M)	($13.1M)	($13.3M)
Net increase in cash and cash equivalents	$134.5M	$67.5M	$142.9M	($10.4M)
Effect of exchange rate changes on cash and cash equivalents	$930.0K	$1.9M	$1.0M	($1.9M)
Cash and cash equivalents at beginning of period	$315.3M	$245.9M	$102.0M	$114.3M
Cash and cash equivalents at end of period	$450.7M	$315.3M	—	—

Powell Industries Inc. cash flow statement, quarters

Line item	Jun 30, 2026 · YTD	Mar 31, 2026 · YTD	Dec 31, 2025 · Q1	Jun 30, 2025 · YTD
Net income	$139.4M	$87.3M	$41.4M	$129.3M
Depreciation and amortization	$6.5M	$4.3M	$2.1M	—
Stock-based compensation	$4.3M	$2.8M	$1.6M	$3.7M
Unrealized mark-to-market (gain) loss on derivative contracts	($354.0K)	$3.0K	$0	($433.0K)
Bad debt expense (recovery), net	$107.0K	($17.0K)	$127.0K	($149.0K)
Deferred income taxes	$11.6M	$7.2M	$3.6M	($2.8M)
Gain on cash surrender value of life insurance	($118.0K)	—	—	—
Accounts receivable, net	($146.4M)	($21.4M)	$28.0M	$2.7M
Contract assets and liabilities, net	$188.8M	$39.8M	$19.5M	($18.4M)
Inventories	($11.1M)	($1.7M)	$9.0K	($2.7M)
Income taxes	($11.1M)	($12.3M)	($6.6M)	($2.5M)
Prepaid expenses and other current assets	($4.3M)	($3.3M)	($5.2M)	$1.1M
Accounts payable	$16.0M	$7.2M	($19.2M)	($7.5M)
Accrued liabilities	($766.0K)	($16.2M)	($24.2M)	($2.2M)
Other, net	$2.5M	$1.0M	$2.4M	$1.7M
Net cash provided by operating activities	$195.0M	$94.8M	$43.6M	$106.9M
Purchases of short-term investments	$0	$0	$0	($37.3M)
Maturities of short-term investments	$24.9M	$17.8M	$15.0M	$44.4M
Purchases of property, plant and equipment	($10.4M)	($3.9M)	($2.0M)	($11.4M)
Proceeds from sale of property, plant and equipment	$17.0K	$4.0K	—	$20.0K
Net cash provided by (used in) investing activities	$14.5M	$14.0M	$12.9M	($4.2M)
Shares withheld in lieu of employee tax withholding	-14.7M	-14.5M	-14.0M	-12.0M
Dividends paid	($9.8M)	($6.5M)	($3.2M)	($9.6M)
Net cash used in financing activities	($24.5M)	($21.0M)	($17.3M)	($21.7M)
Net increase in cash and cash equivalents	$185.0M	$87.8M	$39.3M	$81.0M
Effect of exchange rate changes on cash and cash equivalents	($2.2M)	($797.0K)	$601.0K	$2.2M
Cash and cash equivalents at beginning of period	$450.7M	$450.7M	$450.7M	$315.3M
Cash and cash equivalents at end of period	$633.6M	$537.7M	$490.6M	$398.5M

Powell Industries Inc. score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.