Powell Industries, Inc.

POWL · Industrials · $2.0B mkt cap · FY2025 filings · · Narrow moat ·

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Narrow moat
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The five investor questions

100

2021–2025 (latest 5 aligned FYs; v3 window cap 5): revenue $471M to $1.1B, increasing; diluted EPS 0.05 to 14.86, increasing.

6

Median gross margin 17.5% over 10y, variable.

12

Median ROIC 5.4%, above the 12% hurdle in 30% of years.

100

Net cash position — no leverage risk.

88

Owner earnings changed +24.1%/yr over up to the ten most recent annual observations.

Price vs. value if growth stopped today

A cautious baseline, not a price target: what the shares may support if normalized owner earnings simply hold steady.

Above value if growth stopped todayBelow value if growth stopped today
233% above value if growth stopped today
$55.3M
$50.92
$82.49
$169.53
233% above value if growth stopped today

What today’s price assumes: owner earnings growing ~27%/yr over 5 years. The zero-growth estimate assumes owner earnings stay flat (0% growth).

How to read this

We solve for the constant annual change in owner earnings that would make the five-year zero-growth estimate equal today’s price. This keeps the existing model inputs and calculation unchanged; it is an expectations lens, not a forecast.

This zero-growth estimate assumes trailing owner earnings persist — unreliable for declining businesses. The recent FY revenue series does not trigger the three-consecutive-declines flag.

Among the current top-score group, the median current price is 240% above the zero-growth estimate across 49 of the current top 50 companies by Moat Score with both values.

Score records captured Oct 15, 2026.

Exactly which 50 companies?

FTNT, IBEX, META, MEDP, MSFT, GOOG, LULU, ANF, IDXX, TXRH, FHI, QLYS, FFIV, ADBE, LLY, MANH, CPRT, VEEV, RMD, GRMN, PCTY, EAT, UI, SSD, MNST, DOCS, LRCX, MCO, NTAP, NVDA, CORT, SFM, MPTI, ULTA, SN, ROL, CTAS, PAYC, IRMD, DECK, MORN, INTU, JKHY, TPR, LGCY, DAL, GWW, ISRG, MPWR, LOPE

Missing a usable price or zero-growth estimate: ANF.

Model details under moat-index@3.0.0: zero-growth multiple 11.1×, capped-growth comparison at no more than 18×; 9% discount rate; high-end growth 4% (capped at 4%) using min(5y revenue CAGR, 5y diluted-EPS CAGR), clamped to 0%–4%; maintenance capex uses min(capex, D&A); abstain when D&A is unavailable. This is a disclosed model range, not intrinsic value as fact.

18 years of fundamentals

The business, in plain English

Powell Industries, Inc. booked $1.1B of revenue in FY2025 in the Industrials sector and kept 29.4% of it as gross profit — a moderate-margin business by that measure. After every other cost, 16.4% of each revenue dollar reached the bottom line.

Across the filed record, revenue grew from $551M (FY2010) to $1.1B (FY2025) — about 4.7% a year compounded over 15 years.

It earned 88.7% on invested capital in the latest filed year, FY2025. Across the full 17-year measurable filed record, median ROIC was 7.0%. Over the v3 recent window (10 measurable filed years), median ROIC was 5.4%. The Returns on Capital filter above scores it 12/100.

POWL's latest filed year, FY2025, doesn't disclose total debt in a form the methodology can use, so current leverage is treated as unmeasured — never assumed to be zero.

Put together: Business Trend is the strongest of the five filters (100/100) and Pricing Power the weakest (6/100), which is how POWL lands at 61/100 — a Narrow moat.

This breakdown is generated from the filed numbers and sub-scores above — no outside narrative, no estimates. Where a filing doesn’t disclose an input, the sentence that would need it is omitted instead of guessed.

FY2008–FY2025 · 18 fiscal years, normalized from POWL’s SEC filings

Sales, as filed$1.1B FY2025
$0$500M$1B2008201420202025
Revenue kept after cost of goods29.4% FY2025
0%20%2008201420202025
Standard ROIC or separately labeled Operating ROICStandard ROIC 3.8% FY2022

Exact FY and FY-1 financing invested-capital inputs are required.

0%10%2008201420202025
Cash an owner could take out$181M FY2025
$0$100M2008201420202025

The explained ROIC gaps have filed inputs but no meaningful positive invested-capital denominator. Other gaps mean the item is not in the filings for that year. The series is never interpolated or estimated. The Table view lists every filed value, including operating and net margins, total debt, and share count.

Flagship explainer

How Powell Industries, Inc. makes its money

Start with a dollar of revenue and follow what the filing says remains.

revenueBranching filed flows with values and percentages directly labeled. Missing filing concepts are omitted rather than estimated.Revenue$1.1B · 100%Cost of revenue$780M · 71%Gross profit$324M · 29%Operating income$218M · 20%Income before tax$234M · 21%Income tax$52.8M · 5%Net income$181M · 16%As of 2025-09-30 · 1 SEC filing sourceBuy Like Buffett · buylikebuffett.com

Honest partial: the filing did not provide a normalized tag for Research and development, Selling, general and administrative; those components are omitted, not plugged.

Table alternative
Filed lineValue% of revenueSource
$1.1B100%
Cost of revenue$780M71%
$324M29%
$218M20%
Income before tax$234M21%
Income tax$52.8M5%
$181M16%
Source: · event Sep 30, 2025 · retrieved Oct 15, 2026 · annual-row source set
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Flagship explainer

What Powell Industries, Inc. owns — and owes

Powell Industries, Inc.'s filing tags don't support a full breakdown — here's what is filed:

Table alternative
Filed lineValue% of assetsSource
Total assets$1.1B100%
Cash and equivalents$451M41%
Stockholders’ equity$641M58%
Source: · event Sep 30, 2025 · retrieved Oct 15, 2026 · annual-row source set

Flagship explainer

What drives Powell Industries, Inc.’s return on equity?

ROE is five filed business factors multiplied together.

DuPont return on equity factor treeReturn on equity branches into tax burden, interest burden, operating margin, asset turnover, and the equity multiplier.Return on equity32%Tax burden77%net income ÷ pretax incomeInterest burden107%pretax ÷ operating incomeOperating margin20%operating income ÷ revenueAsset turnover1.08×revenue ÷ average assetsEquity multiplier1.81×average assets ÷ average equityAs of 2025-09-30 · 1 SEC filing sourceBuy Like Buffett · buylikebuffett.com
DuPont source inputs
InputValueFiscal yearSource
$181MFY2025
Income before tax$234MFY2025
Operating income$218MFY2025
$1.1BFY2025
Ending assets$1.1BFY2025
Beginning assets$928MFY2024
$641MFY2025
$483MFY2024
Source: · event Sep 30, 2025 · retrieved Oct 15, 2026 · annual-row source set
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Flagship explainer

Where Powell Industries, Inc.'s cash went

Powell Industries, Inc.’s filing does not supply enough provenance-matched cash-flow lines for a truthful flow chart — here’s what is filed:

Table alternative
Filed lineValue% of cash from operationsSource
Cash from operations$168M100%
Depreciation and amortization$7.3M4%
Source: · event Sep 30, 2025 · retrieved Oct 15, 2026 · annual-row source set

Curated 19-manager tier

Who reported holding Powell Industries, Inc.

Delayed public 13F reports for 2026-Q2—not live positions, trades, or recommendations.

1 holding0 exited17 not holding18/19 resolved1 not retrieved

Named manager positions and quarter-over-quarter changes
ManagerReported positionQuarter-over-quarterFiling accession
Polen Capital29,181 shares$8.4M · 0% of eligible reported 13FAdded to position · +11,696 shares (67%)
Abrams CapitalNo position reportedNo position reported
Akre CapitalNo position reportedNo position reported
Baupost GroupNo position reportedNo position reported
Berkshire HathawayNo position reportedNo position reported
Brave Warrior AdvisorsNo position reportedNo position reported
Dodge & CoxNo position reportedNo position reported
First EagleNo position reportedNo position reported
FundsmithNo position reportedNo position reported
Gardner Russo & QuinnNo position reportedNo position reported
Gates Foundation TrustNo position reportedNo position reported
Mairs & PowerNo position reportedNo position reported
Markel / Markel-GaynerNo position reportedNo position reported
Oakmark / Harris AssociatesNo position reportedNo position reported
Sequoia / Ruane CunniffNo position reportedNo position reported
Southeastern Asset ManagementNo position reportedNo position reported
Tweedy, BrowneNo position reportedNo position reported
Yacktman Asset ManagementNo position reportedNo position reported
Pershing SquareNot retrievedComparison not retrievedFiling not retrieved

Position size uses shares and filed value from each manager’s 13F. Portfolio weight uses the eligible long-share filing denominator. Changes compare only with the immediately preceding calendar quarter.

Source:
37 SEC filings
  1. 13F-HR · Q1 2026Filing detailsAccession 0000813917-26-000038 · filed May 15, 2026
  2. 13F-HR · Q2 2026Filing detailsAccession 0000813917-26-000042 · filed Aug 14, 2026
  3. 13F-HR · Q1 2026Filing detailsAccession 0000860643-26-000003 · filed May 13, 2026
  4. 13F-HR · Q2 2026Filing detailsAccession 0000860643-26-000005 · filed Aug 13, 2026
  5. 13F-HR · Q1 2026Filing detailsAccession 0000905567-26-000002 · filed May 1, 2026
  6. 13F-HR · Q2 2026Filing detailsAccession 0000905567-26-000003 · filed Aug 11, 2026
  7. 13F-HR · Q1 2026Filing detailsAccession 0000919574-26-003132 · filed May 15, 2026
  8. 13F-HR · Q2 2026Filing detailsAccession 0000919574-26-005176 · filed Aug 14, 2026
  9. 13F-HR · Q1 2026Filing detailsAccession 0001061768-26-000007 · filed May 14, 2026
  10. 13F-HR · Q2 2026Filing detailsAccession 0001061768-26-000010 · filed Aug 13, 2026
  11. 13F-HR · Q1 2026Filing detailsAccession 0001096343-26-000044 · filed May 1, 2026
  12. 13F-HR · Q2 2026Filing detailsAccession 0001096343-26-000065 · filed Jul 31, 2026
  13. 13F-HR · Q1 2026Filing detailsAccession 0001104659-26-062592 · filed May 15, 2026
  14. 13F-HR · Q2 2026Filing detailsAccession 0001104659-26-097175 · filed Aug 14, 2026
  15. 13F-HR · Q1 2026Filing detailsAccession 0001112520-26-000009 · filed May 14, 2026
  16. 13F-HR · Q2 2026Filing detailsAccession 0001112520-26-000014 · filed Aug 14, 2026
  17. 13F-HR · Q1 2026Filing detailsAccession 0001172661-26-001819 · filed May 14, 2026
  18. 13F-HR · Q1 2026Filing detailsAccession 0001172661-26-001911 · filed May 14, 2026
  19. 13F-HR · Q1 2026Filing detailsAccession 0001172661-26-001966 · filed May 14, 2026
  20. 13F-HR · Q1 2026Filing detailsAccession 0001172661-26-002294 · filed May 15, 2026
  21. 13F-HR · Q2 2026Filing detailsAccession 0001172661-26-003035 · filed Aug 4, 2026
  22. 13F-HR · Q2 2026Filing detailsAccession 0001172661-26-003402 · filed Aug 13, 2026
  23. 13F-HR · Q2 2026Filing detailsAccession 0001172661-26-003496 · filed Aug 14, 2026
  24. 13F-HR · Q2 2026Filing detailsAccession 0001172661-26-003728 · filed Aug 14, 2026
  25. 13F-HR · Q1 2026Filing detailsAccession 0001193125-26-208439 · filed May 6, 2026
  26. 13F-HR · Q1 2026Filing detailsAccession 0001193125-26-223352 · filed May 14, 2026
  27. 13F-HR · Q1 2026Filing detailsAccession 0001193125-26-226661 · filed May 15, 2026
  28. 13F-HR · Q2 2026Filing detailsAccession 0001193125-26-340443 · filed Aug 7, 2026
  29. 13F-HR · Q2 2026Filing detailsAccession 0001193125-26-349535 · filed Aug 13, 2026
  30. 13F-HR · Q2 2026Filing detailsAccession 0001193125-26-352200 · filed Aug 14, 2026
  31. 13F-HR/A · Q1 2026 · Amendment RESTATEMENTFiling detailsAccession 0001325447-26-000018 · filed May 14, 2026
  32. 13F-HR · Q2 2026Filing detailsAccession 0001325447-26-000020 · filed Aug 5, 2026
  33. 13F-HR/A · Q2 2026 · Amendment NEW HOLDINGSFiling detailsAccession 0001325447-26-000033 · filed Aug 24, 2026
  34. 13F-HR · Q1 2026Filing detailsAccession 0001398344-26-009296 · filed May 15, 2026
  35. 13F-HR · Q2 2026Filing detailsAccession 0001398344-26-014641 · filed Aug 14, 2026
  36. 13F-HR · Q1 2026Filing detailsAccession 0001569205-26-000005 · filed May 15, 2026
  37. 13F-HR · Q2 2026Filing detailsAccession 0001569205-26-000012 · filed Aug 14, 2026
· event Jun 30, 2026 · retrieved Oct 15, 2026

Flagship explainer

What Powell Industries, Inc. insiders reported

Records still being gathered — partial as of retrieval Oct 15, 2026.

Partial coverage: the incomplete Form 4 walk cannot establish no activity, an activity date, or zero counts.

Moat Score history

28 logged readings since Jul 17, 2026 · append-only, never rewritten

Moat Score over timeLast scored reading of each day, on the 0–100 scale61.3 / 100
0406080100WideNarrowShallowNo moatJul 17, 2026Oct 15, 2026

Breaks in the line mark methodology or normalizer upgrades — readings across versions aren’t compared, so a level shift there isn’t a change in the business.

Tier changesSame-methodology and same-normalizer crossings of the Wide / Narrow / Shallow bars

  1. Normalizer upgraded unstamped (version unknown)tomoat-xbrl-normalizer@1.1.0 — readings across versions aren’t comparedJul 26, 2026
  2. Methodology upgraded moat-index@2.0.0tomoat-index@3.0.0 — readings across versions aren’t comparedJul 23, 2026
  3. Methodology upgraded moat-index@1.2.0tomoat-index@2.0.0 — readings across versions aren’t comparedJul 20, 2026

Scores are logged append-only and never overwritten — this record cannot be reconstructed retroactively, which is exactly why it’s worth keeping.

Insider activity

Form 4 reports mix P/S market or private transactions with compensation-plan mechanics. Activity casually described as “insider selling” can include compensation mechanics; awards, tax withholding, and option exercises are shown by their exact filed class here, never collapsed into “Bought” or “Sold.”

These are disclosed filing facts and arithmetic aggregates, not a signal or verdict.

This machine-readable surface covers SEC ownership filings from 2003; it does not represent earlier paper-era records.

Records still being gathered — partial as of retrieval Oct 15, 2026.

42 filings were skipped because the SEC primary document returned 404; the omission is disclosed and aggregates are withheld.

Among the rows shown, A/F/M acquisition, payment or withholding, and exercise or conversion rows outnumber S sale rows (17 versus 4). The filing codes alone do not establish that every such row arose from a compensation plan.

Trailing-12-month totals and the 90-day cluster result are withheld because this issuer walk is incomplete.

InsiderShares owned afterDateFiling detail
Mauney William Marshall JrVice President, R&DGrant, award, or other acquisition (A)Table I · Acquired · Common Stock525$181.67$95,37711,077Oct 1, 2026
1 filed lot
  • Table I · Common Stock: 525 shares at $181.67 · code A · owned after 11,077 ·
HOGLUND PETER GVice Pres, Global ServiceGrant, award, or other acquisition (A)Table I · Acquired · Common Stock475$181.67$86,2935,770Oct 1, 2026
1 filed lot
  • Table I · Common Stock: 475 shares at $181.67 · code A · owned after 5,770 ·
TUNINETTI DAVIDECHIEF HUMAN RESOURCE OFFICERGrant, award, or other acquisition (A)Table I · Acquired · Common Stock600$181.67$109,0023,711Oct 1, 2026
1 filed lot
  • Table I · Common Stock: 600 shares at $181.67 · code A · owned after 3,711 ·
Birchall JohnManaging DirectorGrant, award, or other acquisition (A)Table I · Acquired · Common Stock400$181.67$72,66819,502Oct 1, 2026
1 filed lot
  • Table I · Common Stock: 400 shares at $181.67 · code A · owned after 19,502 ·
Eckenrode David LAssistant Secretary/TreasurerGrant, award, or other acquisition (A)Table I · Acquired · Common Stock165$181.67$29,9761,264Oct 1, 2026
1 filed lot
  • Table I · Common Stock: 165 shares at $181.67 · code A · owned after 1,264 ·
Ni PingCorp ControllerGrant, award, or other acquisition (A)Table I · Acquired · Common Stock200$181.67$36,3346,039Oct 1, 2026
1 filed lot
  • Table I · Common Stock: 200 shares at $181.67 · code A · owned after 6,039 ·
McKertcher Terry BVice President, OperationsGrant, award, or other acquisition (A)Table I · Acquired · Common Stock600$181.67$109,00213,199Oct 1, 2026
1 filed lot
  • Table I · Common Stock: 600 shares at $181.67 · code A · owned after 13,199 ·
JOHNSON JAMES EDGAR JRVice President, OperationsGrant, award, or other acquisition (A)Table I · Acquired · Common Stock625$181.67$113,5441,725Oct 1, 2026
1 filed lot
  • Table I · Common Stock: 625 shares at $181.67 · code A · owned after 1,725 ·
METCALF MICHAEL WILLIAMExec Vice PresidentGrant, award, or other acquisition (A)Table I · Acquired · Common Stock2,000$181.67$363,34079,499Oct 1, 2026
1 filed lot
  • Table I · Common Stock: 2,000 shares at $181.67 · code A · owned after 79,499 ·
COPE BRETT ALANDirector, President & CEOGrant, award, or other acquisition (A)Table I · Acquired · Common Stock7,100$181.67$1,289,857515,034Oct 1, 2026
1 filed lot
  • Table I · Common Stock: 7,100 shares at $181.67 · code A · owned after 515,034 ·
Mauney William Marshall JrVice President, R&DOpen-market or private sale (S)Table I · Disposed · Common Stock301$187.67$56,48910,552Sep 30, 2026
1 filed lot
  • Table I · Common Stock: 301 shares at $187.67 · code S · owned after 10,552 ·
HOGLUND PETER GVice Pres, Global ServicePayment of exercise price or tax liability (F)Table I · Disposed · Common Stock99$187.67$18,5795,295Sep 30, 2026
1 filed lot
  • Table I · Common Stock: 99 shares at $187.67 · code F · owned after 5,295 ·
TUNINETTI DAVIDECHIEF HUMAN RESOURCE OFFICERPayment of exercise price or tax liability (F)Table I · Disposed · Common Stock99$187.67$18,5793,111Sep 30, 2026
1 filed lot
  • Table I · Common Stock: 99 shares at $187.67 · code F · owned after 3,111 ·
Birchall JohnManaging DirectorPayment of exercise price or tax liability (F)Table I · Disposed · Common Stock599$187.67$112,41419,102Sep 30, 2026
1 filed lot
  • Table I · Common Stock: 599 shares at $187.67 · code F · owned after 19,102 ·
Eckenrode David LAssistant Secretary/TreasurerPayment of exercise price or tax liability (F)Table I · Disposed · Common Stock230$187.67$43,1641,099Sep 30, 2026
1 filed lot
  • Table I · Common Stock: 230 shares at $187.67 · code F · owned after 1,099 ·
Ni PingCorp ControllerPayment of exercise price or tax liability (F)Table I · Disposed · Common Stock230$187.67$43,1645,839Sep 30, 2026
1 filed lot
  • Table I · Common Stock: 230 shares at $187.67 · code F · owned after 5,839 ·
McKertcher Terry BVice President, OperationsPayment of exercise price or tax liability (F)Table I · Disposed · Common Stock700$187.67$131,36912,599Sep 30, 2026
1 filed lot
  • Table I · Common Stock: 700 shares at $187.67 · code F · owned after 12,599 ·
METCALF MICHAEL WILLIAMExec Vice PresidentPayment of exercise price or tax liability (F)Table I · Disposed · Common Stock1,401$187.67$262,92677,499Sep 30, 2026
1 filed lot
  • Table I · Common Stock: 1,401 shares at $187.67 · code F · owned after 77,499 ·
COPE BRETT ALANDirector, President & CEOOpen-market or private sale (S)Table I · Disposed · Common Stock4,799$187.67$900,628507,934Sep 30, 2026
1 filed lot
  • Table I · Common Stock: 4,799 shares at $187.67 · code S · owned after 507,934 ·
Williams Richard EDirectorOpen-market or private sale (S)Table I · Disposed · Common Stock2,250$203.05$456,86337,380Aug 14, 2026
1 filed lot
  • Table I · Common Stock: 2,250 shares at $203.05 · code S · owned after 37,380 ·
COPE BRETT ALANDirector, President & CEOOpen-market or private sale (S)Table I · Disposed · Common Stock4,500$207.01$931,545512,733Aug 13, 2026
1 filed lot
  • Table I · Common Stock: 4,500 shares at $207.01 · code S · owned after 512,733 ·

Source-event as of . Retrieved .

Track record

How Powell Industries, Inc.’s moat rated in each of the years we can reconstruct from its filings — scored only on what was knowable at the time — and what its price and returns did afterward. The score never saw a price; the two are joined only in hindsight, for education, not as a signal.

Point-in-time scores 2011–2025, one methodology version · reconstructed from filings on file each Dec 31 — never with hindsight

Point-in-time Moat Score (dot colored by tier)Indexed price (total-return (dividends reinvested))Rated Wide-moat that year

How to read this: each dot is what the engine would have scored POWL on that December 31; the line below is its total-return price path (dividends reinvested) in the years since.

0406080100WideNarrowShallowNo moatPoint-in-time Moat Score1002005001,000Indexed price · log scale (2012 = 100)201120142017202020232026

Two tracks, one timeline: the score has its own 0–100 scale (top), the price its own 100-based scale (bottom) — never a shared axis. The price path is a total-return (dividends reinvested) index built from the same data the forward returns use; gaps in the score line are years with no reconstructed rating (see the table for why). The Table view carries every value.

What followed, in the years it rated Wide

In the reconstructed history shown, POWL did not rate Wide-moat in any year, so there is no wide-moat track record to report. That absence is itself the honest answer — we don’t manufacture a comparison where the rating never earned one.

Industrials context

#108 of 448 scored Industrials companies, ranked by Moat Score.

Nearest peers by Moat Score

  1. #106MSM MSC INDUSTRIAL DIRECT CO., INC.61.5 out of 100, Narrow moatNarrow moat
  2. #107BCC Boise Cascade Company61.5 out of 100, Narrow moatNarrow moat
  3. #109CRCT Cricut, Inc.61.1 out of 100, Narrow moatNarrow moat
  4. #110SCIA SCI ENGINEERED MATERIALS, INC.61.0 out of 100, Narrow moatNarrow moat

Compare POWL with its nearest peers →All Industrials companies on the Index →

Common questions about POWL

Does Powell Industries, Inc. have an economic moat?
Based on its FY2025 SEC filings, the Moat Index scores Powell Industries, Inc. (POWL) 61.3 out of 100 — a Narrow moat. The five questions behind that score begin at 20% each; if exactly one genuinely lacks data, the other four weights are renormalized and disclosed. revenue and EPS trend 100, pricing power 6, returns on capital 12, balance-sheet safety 100, capital allocation 88.
Is POWL trading below the conservative owner-earnings estimate?
The value if growth stopped today — a zero-growth baseline — is $50.92 per share. It capitalizes normalized owner earnings at a 9% rate and assumes 0% growth. Versus a recent price of $169.53, that is 233% above value if growth stopped today. The model also publishes a capped-growth comparison, but the zero-growth estimate is the cautious baseline. It assumes trailing owner earnings persist and is unreliable for declining businesses. This is an educational estimate from primary SEC filings, not intrinsic value as a fact or investment advice.
How has POWL's Moat Score changed over time?
The record logs 28 readings since Jul 17, 2026; the latest reads 61.3 out of 100 (narrow moat). No tier changes on record yet. (Methodology or normalizer upgrades on Jul 20, 2026, Jul 23, 2026, Jul 26, 2026 re-based the score; readings across versions aren't compared.) The history is append-only — readings are only ever added, never rewritten.