nVent Electric PLC

nVent Electric designs, makes and installs equipment that protects, cools and connects electrical systems. Its products include protective enclosures, liquid and air cooling, control buildings, switchgear (equipment that controls power circuits), bus systems, cable management and electrical connectors. Its brands include HOFFMAN, SCHROFF, ERICO and CADDY. Pentair spun it off as a separate company in 2018. nVent is incorporated in Ireland and tax-resident in the U.K., and it has a U.S. management office in Minneapolis.

nVent had $3.89 billion in revenue in 2025. The Systems Protection segment brought in 66.6% of it. This segment provides enclosures, cooling, control buildings and switchgear to hyperscalers (the giant cloud and data center operators), utilities, equipment makers and contractors. Electrical Connections brought in 33.4%. It supplies connectors, cable management and power connections, mainly to contractors, electricians, utilities and panel builders. The Americas produced 81.1% of revenue, Europe, the Middle East and Africa 15.1%, and Asia-Pacific 3.8%.

Most sales are ordered and shipped in the same month. Larger infrastructure orders can take more than a year to design and build. In 2025 nVent sold its Thermal Management business for $1.6 billion. It also acquired the Electrical Products Group from Avail Infrastructure Solutions for about $1.0 billion. That deal and data center growth lifted the order backlog (firm orders not yet shipped) to $2.35 billion at the end of 2025, from $749 million a year earlier.

• In Q3 FY2026 (ended Sep 30, 2026), revenue was $1.51B, up 43.7% from a year earlier, and net income was $202.4M (+67.0%).
• For fiscal 2025, revenue was $3.89B (+29.5% year over year; +19.3% a year from FY2022 to FY2025) with a 18.2% net margin.

• Over FY2021–FY2025: $591.3M in buybacks and $608.7M in dividends.
• Regular dividend per share increased 2 years in a row.
• Regular dividends per share grew +2.7% a year over 5 years (FY2020–FY2025).
• Dividends took 18.4% of earnings and 35.1% of free cash flow in the latest fiscal year.
• Shares outstanding changed -2.7% from Dec 31, 2021 to Sep 30, 2026.

Rank among 1514 US companies

Market value at each year end

nVent Electric’s market value went from $3.98B at the end of 2018 to $22.64B on Oct 28, 2026, about 5.7 times as much; since the end of 2025 it is up 37%.

Form 4 filings from 2025-10-31 to 2026-10-31 (25 read): 0 open-market purchases and 16 sales ($27.2M).

Large shareholders (13G filings)

ETFs with the most weight in NVT

1. Large orders could be cut or delayed. Its backlog of unfilled orders more than tripled to $2.35 billion at the end of 2025, helped by data center growth. Cancellations, delays or lost business from its largest customers could hurt future sales.
2. Acquisitions may disappoint or need write-downs. nVent grows through deals, such as about $1.0 billion for the Electrical Products Group in 2025. Purchases can underdeliver, and its large goodwill (premium paid for acquired businesses) could be written down.
3. More borrowing could strain finances. As of June 30, 2026, nVent had $1.49 billion of debt and $256 million of cash and investments. It reported new debt in September 2026. Higher rates or a credit downgrade could raise borrowing costs.
4. Tariffs and metal prices could squeeze profits. Its main materials are steel, copper, aluminum and electronic components, bought worldwide. New tariffs, trade-deal changes or price spikes could raise costs faster than nVent can raise its own prices.
5. Irish and U.K. structure carries tax risks. nVent is Irish-incorporated and U.K. tax-resident. Tax-law changes could raise its tax rate, and a residency change could trigger taxes on dividends. Irish law may also protect shareholders less than U.S. law.
6. Sales track construction and industrial spending. Demand depends on spending by industry, utilities, governments and builders. A recession, high interest rates or a slump in one large market could cut orders, and rivals may then compete harder on price.

• Oct 30, 2026 Quarterly results released
• Sep 29, 2026 New debt or financial obligation; Other company announcement
• Sep 17, 2026 New debt or financial obligation
• Sep 16, 2026 Other company announcement
• Aug 18, 2026 Executive or board change
• Jul 31, 2026 Quarterly results released
• Jun 17, 2026 Executive or board change
• May 18, 2026 Shareholder vote results
• May 1, 2026 Quarterly results released
• Feb 17, 2026 Major agreement signed; New debt or financial obligation

nVent pays a dividend, but the yield was just 0.6% as of October 28, 2026. Most of any return would come from share price gains, not income. The annual dividend stayed at $0.70 a share from 2020 through 2023. It rose to $0.76 in 2024 and $0.80 in 2025, a two-year streak of increases and growth of about 2.7% a year since 2020. The 2025 payout used 18.4% of earnings and 35.1% of free cash flow (cash left after running and investing in the business). Buybacks totaled $591 million from 2021 through 2025, and the share count fell 3.8% between September 2021 and June 2026.

The share price has swung sharply. It fell 56.2% in the 2020 COVID crash and took about 11 months to recover. It dropped 20.9% in the 2022 bear market and recovered in about four months. It did not trade during the 2008 crisis. Single stocks carry more risk than diversified funds.