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PaymentsToAcquirePropertyPlantAndEquipment","accession":"0000080420-26-000107","source_url":"https://data.sec.gov/api/xbrl/companyfacts/CIK0000080420.json","retrieved_at":"2026-09-19T18:38:36+00:00","reviewed_through":null}},"cash":{"value":633561000.0,"provenance":{"form":"10-Q","class":"reported","filed":"2026-08-04","concept":"CashAndCashEquivalentsAtCarryingValue","accession":"0000080420-26-000107","source_url":"https://data.sec.gov/api/xbrl/companyfacts/CIK0000080420.json","retrieved_at":"2026-09-19T18:38:36+00:00","reviewed_through":null}},"capex":{"value":6525000.0,"provenance":{"form":"10-Q","class":"derived","filed":"2026-08-04","concept":"PaymentsToAcquirePropertyPlantAndEquipment","accession":"0000080420-26-000107","source_url":"https://data.sec.gov/api/xbrl/companyfacts/CIK0000080420.json","retrieved_at":"2026-09-19T18:38:36+00:00","reviewed_through":null}},"revenue":{"value":311740000.0,"provenance":{"form":"10-Q","class":"reported","filed":"2026-08-04","concept":"RevenueFromContractWithCustomerExcludingAssessedTax","accession":"0000080420-26-000107","source_url":"https://data.sec.gov/api/xbrl/companyfacts/CIK0000080420.json","retrieved_at":"2026-09-19T18:38:36+00:00","reviewed_through":null}},"net_income":{"value":52160000.0,"provenance":{"form":"10-Q","class":"reported","filed":"2026-08-04","concept":"NetIncomeLoss","accession":"0000080420-26-000107","source_url":"https://data.sec.gov/api/xbrl/companyfacts/CIK0000080420.json","retrieved_at":"2026-09-19T18:38:36+00:00","reviewed_through":null}},"period_end":"2026-06-30","eps_diluted":{"value":1.42,"provenance":{"form":"10-Q","class":"reported","filed":"2026-08-04","concept":"EarningsPerShareDiluted","accession":"0000080420-26-000107","source_url":"https://data.sec.gov/api/xbrl/companyfacts/CIK0000080420.json","retrieved_at":"2026-09-19T18:38:36+00:00","reviewed_through":null}},"fiscal_label":"2026Q3","gross_profit":{"value":95299000.0,"provenance":{"form":"10-Q","class":"reported","filed":"2026-08-04","concept":"GrossProfit","accession":"0000080420-26-000107","source_url":"https://data.sec.gov/api/xbrl/companyfacts/CIK0000080420.json","retrieved_at":"2026-09-19T18:38:36+00:00","reviewed_through":null}},"debt_long_term":null,"shares_diluted":{"value":36604000.0,"provenance":{"form":"10-Q","class":"reported","filed":"2026-08-04","concept":"WeightedAverageNumberOfDilutedSharesOutstanding","accession":"0000080420-26-000107","source_url":"https://data.sec.gov/api/xbrl/companyfacts/CIK0000080420.json","retrieved_at":"2026-09-19T18:38:36+00:00","reviewed_through":null}},"operating_income":{"value":64076000.0,"provenance":{"form":"10-Q","class":"reported","filed":"2026-08-04","concept":"OperatingIncomeLoss","accession":"0000080420-26-000107","source_url":"https://data.sec.gov/api/xbrl/companyfacts/CIK0000080420.json","retrieved_at":"2026-09-19T18:38:36+00:00","reviewed_through":null}}}],"retrieved_at":"2026-09-19T18:38:36+00:00"},"notes":[],"memory":{"as_of":"2026-09-18","bands":{"1d":{"p10":-1.831,"p50":-0.04,"p90":1.697,"p_up":0.48},"5d":{"p10":-3.912,"p50":-0.126,"p90":3.562,"p_up":0.48},"10d":{"p10":-5.825,"p50":-0.208,"p90":4.731,"p_up":0.473}},"state":"up/below/off/stuck/ordinary/strong/some","reason":null,"coverage":"ok","analogs_n":300,"disclaimer":"Historical distributions of what followed similar states, measured before today's news. Not a forecast; no side."},"schema":"company_file.v1","thesis":{"view":"Record backlog offers revenue visibility, but timing and cash quality matter more than one large order quarter. Powell expects approximately $1.3B of its $2.4B June backlog to convert over the next twelve months. The model starts with that expectation and adds only explicit new book-and-ship assumptions. Nine-month CFO was $195.0M, including $188.8M from net contract asset and liability movements. Strong customer funding supports production, but should not be annualized as recurring cash profit.","scenario_ranges":"Explicit downside/base/upside business assumptions; not price targets, probabilities or historical market-memory bands.","what_changes_it":"Track backlog conversion, net orders after cancellations, project margins and CFO before contract funding. Capacity projects must support profitable delivery without consuming an outsized share of the cash funded by customers."},"no_side":true,"sources":[{"url":"https://www.sec.gov/Archives/edgar/data/80420/000008042026000103/ex991-powlq3xfy2026earning.htm","title":"August 3 fiscal Q3 earnings and orders","retrieved":"2026-09-19"},{"url":"https://www.sec.gov/Archives/edgar/data/80420/000008042026000107/powl-20260630.htm","title":"August 4 Form 10-Q: backlog timing and contract cash funding","retrieved":"2026-09-19"}],"business":{"drivers":["Backlog delivery and new net project orders","Project mix, engineering capacity and gross margin","Customer milestone funding and factory investment"],"description":"Powell Industries engineers and manufactures electrical power distribution and control systems for industrial, utility and commercial customers. Custom projects move from order to backlog to delivery and revenue. Data-center demand adds to oil-and-gas and utility work, but engineering capacity, factory execution and customer payment milestones determine margins and cash timing."},"earnings":{"source":"estimated from 10-Q filed 2026-08-04 plus 90 days","next_report_date":"2026-11-02"},"identity":{"cik":80420,"sic":"3613","name":"POWELL INDUSTRIES INC","symbol":"POWL","cluster":"AI infrastructure & power","exchange":"Nasdaq"},"research":{"risks":["Large custom projects can delay, change scope or cancel.","Data-center orders increase concentration and execution demands.","Project mix and factory bottlenecks can compress gross margin.","Contract funding can reverse as previously funded work is delivered.","Expansion spending and engineering capacity must keep pace with commitments.","Fiscal-year and split-adjusted per-share comparisons require care."],"title":"Backlog visibility with a separate cash-funding test","question":"How much of record project demand turns into repeatable profit and cash as customer advances unwind?","economics":"Q3 revenue was $311.7M with $95.3M gross profit and $64.1M operating income. New net orders of $934.2M lifted backlog to approximately $2.4B. A data-center order above $400M and large petrochemical/LNG awards are included in that total. Management expects about $1.3B of June backlog revenue in the next twelve months. Nine-month CFO of $195.0M falls to $6.3M when the $188.8M net contract-funding cash contribution is removed; other working capital, including receivables, still affects that remainder. June cash was $633.6M and contract liabilities $466.4M. The model rolls orders and revenue through backlog and separately shows margins, other working capital, contract funding and expansion capex.","change_note":"First sourced backlog-to-revenue and cash model. Separates existing backlog, new orders and customer-funded cash; no double counting of the record project awards.","checkpoints":[{"event":"Fiscal 2026 close","watch":"Compare Q4 revenue, backlog conversion and project margins with scenarios.","timing":"Quarter ending September 30; results date unconfirmed","date_status":"estimated"},{"event":"Jacintoport expansion","watch":"Confirm operating readiness and cash spending.","timing":"Company target by fiscal 2026 year-end","date_status":"estimated"},{"event":"Additional leased capacity","watch":"Watch fixed costs, engineering staffing and on-time project delivery.","timing":"Fiscal 2027 company plan","date_status":"estimated"}],"countercase":"Backlog can be large while project delivery slips or lower-margin jobs enter production. Customer advances can make current cash look stronger than the cash generated after fulfillment. Expanding capacity also risks fixed costs arriving before profitable volume.","limitations":["Desk scenarios are not a formal company revenue guide, paid consensus, a complete balance sheet or an equity valuation. Backlog timing is an expectation, not guaranteed revenue.","The $1.3B twelve-month backlog conversion reference is a subset of approximately $2.4B total backlog. The large data-center, petrochemical and LNG awards are already included, not added again.","Net order assumptions include modeled book-and-ship work. The backlog roll-forward subtracts total recognized revenue exactly once. New projects can cancel, resize or shift timing.","Contract funding is the net operating cash-flow movement in contract assets and liabilities, not all customer deposits and not revenue. It can reverse as projects deliver.","Cash taxes, interest income and non-contract working capital are explicit approximations, not a detailed cash-flow statement forecast. Capex excludes acquisitions and shareholder distributions.","The April 2026 three-for-one split affects historical EPS comparability. Forecast EPS is omitted pending a full share-count and capital-return schedule. Fiscal year-end is September 30."],"reviewed_at":"2026-09-19"},"estimates":{"rows":[{"eps":null,"as_of":"2026-09-19","basis":"Desk base scenario; calculated from the operating-model inputs below. Not consensus or company guidance.","class":"estimate","period":"2026Q4","revenue":342000000.0},{"eps":null,"as_of":"2026-09-19","basis":"Desk base scenario; calculated from the operating-model inputs below. Not consensus or company guidance.","class":"estimate","period":"2027Q1","revenue":329000000.0},{"eps":null,"as_of":"2026-09-19","basis":"Desk base scenario; calculated from the operating-model inputs below. Not consensus or company guidance.","class":"estimate","period":"2027Q2","revenue":355000000.0},{"eps":null,"as_of":"2026-09-19","basis":"Desk base scenario; calculated from the operating-model inputs below. Not consensus or company guidance.","class":"estimate","period":"2027Q3","revenue":394000000.00000006}],"basis":"Desk base scenario from the operating model; not consensus.","consensus":null,"revisions":[]},"scorecard":{"inside_5d":null,"notes_scored":0,"band_coverage_5d":null},"disclosure":"All positions in the Research Model Portfolio are simulated. No real money is invested in this model. 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