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nVent Electric PLC logo

nVent Electric PLC

investors.nvent.com

What Do They Do?

Sells protection systems to data center and utility customers, plus electrical connection products for electrical installers.

How Do They Make Money?

Systems Protection is the larger business; customers generally pay for products when they ship, while payments for some project work track progress.

revenue
SegmentShareRevenue
Systems Protection
67%
FY2022: 66%
Electrical Connections
33%
FY2022: 34%

Who Are Their Customers?

Data center operators and utilities use its protection systems, while electrical trades use its connection products; sales also go through distributors, retailers and equipment makers.

Customers above 10% of revenue, FY2025
of revenue from one customer
FY2023: no customer at 10% or more of revenue

Do Revenues Turn Into Profits?

Yes. It kept 18 cents of every revenue dollar as net income in FY2025 and turned 10 cents into free cash flow.

Operating income, FY2025
16% of revenue
▲ +17% vs FY2024 ($527.1M, 18%)
Net income, FY2025
18% of revenue
▲ +114% vs FY2024 ($331.8M, 11%)
Free cash flow, FY2025
10% of revenue
▼ −35% vs FY2024 ($569.1M, 19%)

How Are They Changing?

Since the FY2025 annual report
Latest quarter: Q2 FY2026, the three months to Jun 30, 2026
Revenue
▲ +53%
vs $963.1M in Q2 FY2025
Net income
▲ +97%
vs $109.5M in Q2 FY2025
Systems Protection share of revenue vs 65.6% in Q2 FY2025
  • Sep 15, 2026 Agreed to acquire Maverick Power The proposed acquisition is for $1.75 billion and is expected to close in the fourth quarter of 2026, subject to closing conditions.
  • Jul 31, 2026 Raised full-year 2026 sales and earnings guidance Raised sales growth guidance to 37% to 39% and adjusted EPS guidance to $5.00 to $5.10.

Growing. Revenue grew 58% in 4 years, from $2.5B in FY2021 to $3.9B in FY2025, about 12% a year.

Sold Thermal Management The older report described heat-tracing and building-related thermal products and services; the latest report says the Thermal Management business was sold.

Revenue over time
Systems Protection Electrical Connections Other Thermal Management
$5B$2.5B$0

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