Here are the 10-K annual reports from Powell Industries Inc (POWL) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow POWL and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full POWL filings page.
Powell Industries (POWL) files its 2025 Form 10-K outlining a year of expansion, acquisitions and strong project visibility. The company, a Houston-based maker of custom-engineered electrical power control and distribution systems, completed the $18.4 million acquisition of U.K.-based Remsdaq Limited to add SCADA remote terminal unit technology and approximately $3 million of acquired technology assets.
Powell reported a contract backlog of $1.4 billion as of September 30, 2025, and expects about $824 million of that to convert to revenue in Fiscal 2026, underscoring multi-year revenue visibility. Material costs were 45% of revenues in Fiscal 2025, down from 47% and 49% in the prior two years, reflecting some margin improvement.
The company is investing in capacity, including a $12.4 million expansion of its Jacintoport facility that will add 335,000 square feet of laydown space, a 62% yard capacity increase, and extend shoreline bulkhead to 1,150 feet. Powell serves diversified end markets, with Fiscal 2025 revenue mix led by oil and gas at 37%, electric utility at 25%, and commercial and other industrial at 16%, while no single customer exceeded 10% of consolidated revenues. The company employed 3,143 full-time and 315 contract employees at year-end.