- Spirax $SPX up 7.6% (in £) since 25H1 results 13-Nov update saw Q3 slowdown in global Industrial Production, but Spirax Jan-Oct organic sales growth and Adj. EBIT Margin were both ahead of H1 2025 outlook for Adj. EBIT +MSD organic ~25x 2025 consensus EPS (Cash Converson ~80%)
- "Spirax: H1 2025 Results (Quick Note)" $SPX shares have risen 16.4% in the 2 days since H1 results, though still cheaper than a year ago
- Spirax $SPX organic sales growth has only been near or above 10% in the post-GFC rebound and during COVID Double-digit organic sales growth in 2021-22 was followed by -1.0% in 2023, +3.5% in 2024 2019-24 organic sales CAGR was 6.0% EBIT margin fell in 2019-24, to rise in 2025
