- Although SPX Flow saw some challenging decremental margins during the pandemic, overall margin performance in 2020 was still meaningfully better than expected, and further cost-reductions efforts are underway.
- SPX Flow has above-average growth leverage in 2021 and 2022 with short-cycle industrial markets turning, larger food/beverage capital projects resuming, and meaningful M&A capacity.
- The valuation seems to factor in those positive attributes, and SPX Flow's valuation looks pretty fair today, but with better near-term momentum.
For further details see:
SPX Flow Executing On Cost Efficiency And Has Meaningful M&A Upside