Income Statement Snapshot

nVent Electric plc’s top-line, gross profit, operating income, and bottom-line conversion. Values are shown in USD millions.

Revenue

FY2025

12.1% CAGR

$3.9B

CAGR 12.1% (FY2021 to FY2025)

Gross Profit

FY2025

11.8% CAGR

$1.5B

CAGR 11.8% (FY2021 to FY2025)

Operating Income

FY2025

14.8% CAGR

$616.8M

CAGR 14.8% (FY2021 to FY2025)

Net Income

FY2025

27.0% CAGR

$710.2M

CAGR 27.0% (FY2021 to FY2025)

All values shown in USD millions unless noted otherwise.

Expanded Line Items

The full annual income statement layer for nVent Electric plc.
Values are displayed in USD millions, except per-share and share-count rows.

Line Item	2025	2024	2023	2022	2021
Total Revenue	$3,893	$3,006	$2,669	$2,295	$2,462
Cost of Revenue	$2,424	$1,797	$1,594	$1,472	$1,520
Gross Profit	$1,469	$1,209	$1,075	$823	$942
Research & Development	$79	$66	$55	$46	$49
Selling, General & Administrative	$774	$616	$557	$468	$538
Operating Income	$617	$527	$463	$309	$355
Interest Expense	N/A	N/A	$79	$31	$32
Other Non-Operating Income (Expense)	$8	$8	-$18	$59	$13
Pretax Income	$550	$429	$375	$336	$321
Income Tax Expense (Benefit)	$122	$188	-$84	$43	$48
Net Income	$710	$332	$567	$400	$273
Basic EPS	$4.36	$2.00	$3.42	$2.40	$1.63
Diluted EPS	$4.31	$1.97	$3.37	$2.38	$1.61
Basic Average Shares	162.4M	165.5M	165.6M	166.3M	167.9M
Diluted Average Shares	164.6M	168.2M	168.2M	168.3M	169.7M
Filing	10-K	10-K	10-K	10-K	10-K

Expanded annual statement lines sourced from SEC Edgar Database for nVent Electric plc

Margins

Profitability Conversion

Track how much of revenue survives through gross profit,operating income, and net income across the annual reporting window.

Gross Margin

FY2025

vs FY2021

37.7%

Change vs FY2021: -52 bps

Operating Margin

FY2025

vs FY2021

15.8%

Change vs FY2021: +141 bps

Net Margin

FY2025

vs FY2021

18.2%

Change vs FY2021: +716 bps

Observation Window

FY2021 to FY2025

5 years

5 Years

Profitability profile tracked across FY2021 through FY2025.

Margin Table

Side-by-side read of gross, operating, and net margin.

Margin Trends

Read the shape of profitability with either a discrete bar view or a cleaner line trajectory.

Margins are calculated from annual SEC facts using reported revenue as the denominator.

YoY Change

Annual Momentum

Compare the latest fiscal year against the immediately prior period across every headline income statement line.

Revenue YoY

FY2025 vs FY2024

YoY change

+29.5%

FY2025 versus FY2024

Gross Profit YoY

FY2025 vs FY2024

YoY change

+21.5%

FY2025 versus FY2024

Op. Income YoY

FY2025 vs FY2024

YoY change

+17.0%

FY2025 versus FY2024

Net Income YoY

FY2025 vs FY2024

YoY change

+114.0%

FY2025 versus FY2024

YoY Table

Negative values are highlighted to make slowdowns obvious.

Metric	2025	2024	2023	2022	2021
Revenue Growth %	+29.5%	+12.6%	+16.3%	-6.8%	N/A
Gross Profit Growth %	+21.5%	+12.5%	+30.7%	-12.6%	N/A
Operating Income Growth %	+17.0%	+13.9%	+49.7%	-13.1%	N/A
Net Income Growth %	+114.0%	-41.5%	+41.8%	+46.5%	N/A
Filing	10-K	10-K	10-K	10-K	10-K

Momentum Chart

The most direct way to see whether the business is accelerating or rolling over.

YoY change compares each annual period against the immediately prior year inside the selected window.

CAGR

Through-Cycle Growth

Compounded annual growth rate from FY2021 to FY2025, useful for filtering out one-year noise.

Revenue CAGR

FY2021 to FY2025

4-yr CAGR

12.1%

Compounded annual growth across FY2021 to FY2025.

Gross Profit CAGR

FY2021 to FY2025

4-yr CAGR

11.8%

Compounded annual growth across FY2021 to FY2025.

Op. Income CAGR

FY2021 to FY2025

4-yr CAGR

14.8%

Compounded annual growth across FY2021 to FY2025.

Net Income CAGR

FY2021 to FY2025

4-yr CAGR

27.0%

Compounded annual growth across FY2021 to FY2025.

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Income Statement Snapshot

nVent Electric plc’s top-line, gross profit, operating income, and bottom-line conversion. Values are shown in USD millions.

Revenue

FY2025

12.1% CAGR

$3.9B

CAGR 12.1% (FY2021 to FY2025)

Gross Profit

FY2025

11.8% CAGR

$1.5B

CAGR 11.8% (FY2021 to FY2025)

Operating Income

FY2025

14.8% CAGR

$616.8M

CAGR 14.8% (FY2021 to FY2025)

Net Income

FY2025

27.0% CAGR

$710.2M

CAGR 27.0% (FY2021 to FY2025)

All values shown in USD millions unless noted otherwise.

Expanded Line Items

The full annual income statement layer for nVent Electric plc.
Values are displayed in USD millions, except per-share and share-count rows.

Line Item	2025	2024	2023	2022	2021
Total Revenue	$3,893	$3,006	$2,669	$2,295	$2,462
Cost of Revenue	$2,424	$1,797	$1,594	$1,472	$1,520
Gross Profit	$1,469	$1,209	$1,075	$823	$942
Research & Development	$79	$66	$55	$46	$49
Selling, General & Administrative	$774	$616	$557	$468	$538
Operating Income	$617	$527	$463	$309	$355
Interest Expense	N/A	N/A	$79	$31	$32
Other Non-Operating Income (Expense)	$8	$8	-$18	$59	$13
Pretax Income	$550	$429	$375	$336	$321
Income Tax Expense (Benefit)	$122	$188	-$84	$43	$48
Net Income	$710	$332	$567	$400	$273
Basic EPS	$4.36	$2.00	$3.42	$2.40	$1.63
Diluted EPS	$4.31	$1.97	$3.37	$2.38	$1.61
Basic Average Shares	162.4M	165.5M	165.6M	166.3M	167.9M
Diluted Average Shares	164.6M	168.2M	168.2M	168.3M	169.7M
Filing	10-K	10-K	10-K	10-K	10-K

Expanded annual statement lines sourced from SEC Edgar Database for nVent Electric plc

Margins

Profitability Conversion

Track how much of revenue survives through gross profit,operating income, and net income across the annual reporting window.

Gross Margin

FY2025

vs FY2021

37.7%

Change vs FY2021: -52 bps

Operating Margin

FY2025

vs FY2021

15.8%

Change vs FY2021: +141 bps

Net Margin

FY2025

vs FY2021

18.2%

Change vs FY2021: +716 bps

Observation Window

FY2021 to FY2025

5 years

5 Years

Profitability profile tracked across FY2021 through FY2025.

Margin Table

Side-by-side read of gross, operating, and net margin.

Margin Trends

Read the shape of profitability with either a discrete bar view or a cleaner line trajectory.

Margins are calculated from annual SEC facts using reported revenue as the denominator.

YoY Change

Annual Momentum

Compare the latest fiscal year against the immediately prior period across every headline income statement line.

Revenue YoY

FY2025 vs FY2024

YoY change

+29.5%

FY2025 versus FY2024

Gross Profit YoY

FY2025 vs FY2024

YoY change

+21.5%

FY2025 versus FY2024

Op. Income YoY

FY2025 vs FY2024

YoY change

+17.0%

FY2025 versus FY2024

Net Income YoY

FY2025 vs FY2024

YoY change

+114.0%

FY2025 versus FY2024

YoY Table

Negative values are highlighted to make slowdowns obvious.

Metric	2025	2024	2023	2022	2021
Revenue Growth %	+29.5%	+12.6%	+16.3%	-6.8%	N/A
Gross Profit Growth %	+21.5%	+12.5%	+30.7%	-12.6%	N/A
Operating Income Growth %	+17.0%	+13.9%	+49.7%	-13.1%	N/A
Net Income Growth %	+114.0%	-41.5%	+41.8%	+46.5%	N/A
Filing	10-K	10-K	10-K	10-K	10-K

Momentum Chart

The most direct way to see whether the business is accelerating or rolling over.

YoY change compares each annual period against the immediately prior year inside the selected window.

CAGR

Through-Cycle Growth

Compounded annual growth rate from FY2021 to FY2025, useful for filtering out one-year noise.

Revenue CAGR

FY2021 to FY2025

4-yr CAGR

12.1%

Compounded annual growth across FY2021 to FY2025.

Gross Profit CAGR

FY2021 to FY2025

4-yr CAGR

11.8%

Compounded annual growth across FY2021 to FY2025.

Op. Income CAGR

FY2021 to FY2025

4-yr CAGR

14.8%

Compounded annual growth across FY2021 to FY2025.

Net Income CAGR

FY2021 to FY2025

4-yr CAGR

27.0%

Compounded annual growth across FY2021 to FY2025.

Commentary on nVent Electric plc Performance

Over the five-year period, nVent Electric’s revenue and operating income generally trended upward despite some volatility. After a slight revenue decline from USD 2,462 million in 2021 to USD 2,295.1 million in 2022, the company rebounded with revenue growing to USD 2,668.9 million in 2023, reaching USD 3,006.1 million in 2024, and then surging to USD 3,893.1 million in 2025. Gross profit followed a similar pattern—with an initial drop from USD 941.9 million in 2021 to USD 822.9 million in 2022, before climbing steadily to USD 1,469.1 million in 2025. Operating income, which is a key indicator of the company’s core operations, increased substantially from USD 355.4 million in 2021 to USD 616.8 million in 2025. Notably, the jump from USD 309 million in 2022 to USD 462.7 million in 2023 represents an approximate 50% increase, suggesting marked improvements in operational efficiencies or cost management during that period. Net income showed higher volatility compared to other metrics. After rising from USD 272.9 million in 2021 to USD 399.8 million in 2022 and USD 567.1 million in 2023, it unexpectedly dropped to USD 331.8 million in 2024—a decline of over 40%—before rebounding impressively to USD 710.2 million in 2025. This significant swing in net income could imply non-operating factors, adjustments, or one-off events affecting profitability. Overall, the trends in revenue, gross profit, and operating income indicate a sound trajectory of operational growth and resilience. However, the fluctuations in net income warrant further attention to ensure that external or non-recurring items do not undermine the company’s long-term financial stability.

This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.

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NVT Income Statement

Income Statement Snapshot

Income Statement Snapshot

Commentary on nVent Electric plc Performance

Commentary on nVent Electric plc Performance