nVent Electric (NVT) Q4 2025 earnings summary

Executive summary

• Achieved record 2025 sales of $3.9 billion, up 30% year-over-year, with adjusted EPS up 35% to $3.35 and free cash flow up 31% to $561 million.

• Q4 2025 sales reached $1.1 billion, up 42% year-over-year, with adjusted EPS up 53%.

• Infrastructure now represents 45% of revenue, with data center sales of ~$1 billion, growing over 50% year-over-year.

• Portfolio transformation included divesting Thermal Management and acquiring EPG, increasing infrastructure exposure.

• Orders and backlog surged, with year-end backlog at $2.3 billion, triple the prior year.

Financial highlights

• Q4 organic sales grew 24%, with acquisitions contributing up to 17 points to growth.

• Q4 adjusted operating income was $210 million, up 33%, with return on sales (ROS) of 19.7%.

• Full-year adjusted operating income was $786 million, up 21%, with adjusted ROS at 20.2%.

• Q4 free cash flow was $189 million, up 26% year-over-year; full-year free cash flow was $561 million.

• Acquisitions contributed up to 17 points to annual growth.

Outlook and guidance

• 2026 guidance: reported sales growth of 15%-18%, organic growth of 10%-13%.

• Adjusted EPS expected to grow 20%-24% to $4.00-$4.15.

• Free cash flow conversion forecasted at 90%-102% of adjusted net income.

• Q1 2026: reported sales growth of 34%-36%, organic growth of 17%-19%, adjusted EPS of $0.90-$0.93.

• Secular trends in electrification, sustainability, and digitalization expected to drive demand.