SXI // Standex International Corporation

Industrials • Industrial Machinery/Components

$243.55 ▼ -4.64 (-1.87%)

MKT CAP: $2.99B • VOL: 223.2K

52W L $216 52W H $364

PIOTROSKI

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SXI // VALUE CHAIN TOPOLOGY: SUPPLIERS ──► ISSUER ──► REVENUE CUSTOMERS (SPLC <GO>) SOURCE: SEC FORM 10-K ITEM 1 & 1A

01 // UPSTREAM SUPPLIERS & FOUNDRIES

TSM <GO> CRITICAL

Upstream Foundry & Infrastructure Partners

FOUNDRY / INFRA • Core Fabrication & Cloud Compute

EST. COGS / CAPEX SHARE 24%

EVIDENCE: Form 10-K Item 1A Supply Concentration

Precision Equipment & Subsystem Vendors

SUPPLIER • Capital Equipment & Tooling

EST. COGS / CAPEX SHARE 14%

EVIDENCE: Form 10-K Note 12 Purchase Commitments

CORE VALUE-CHAIN HUB NYSE

SXI // Standex International Corporation

GROSS MARGIN

39.9%

OP MARGIN

11.8%

ROIC %

6.8%

MKT CAP

$2.99B

UPSTREAM INPUTS ──► SXI OPERATING ENGINE ──► CUSTOMER REVENUE

03 // DOWNSTREAM REVENUE CUSTOMERS

MSFT <GO> REV SHARE: ~19%

Hyperscale & Enterprise Cloud Accounts

CUSTOMER • Enterprise Infrastructure

EVIDENCE: Form 10-K Segment & Major Customer Footnote

AMZN <GO> REV SHARE: ~13%

Global Commercial & Distribution Channels

CUSTOMER • Commercial Distribution

EVIDENCE: Form 10-K Geographic & Channel Breakdown

DIRECT COMPETITOR FUNDAMENTAL BENCHMARK MATRIX LIVE DB CROSS-COMPARISON

TICKER	COMPANY	LAST	MKT CAP	GROSS MGN	OP MGN	ROIC %	EV/EBITDA	REV YOY	HEAD-TO-HEAD
SXI ★	Standex International Corporation	$243.55	$2.99B	39.9%	11.8%	6.8%	36.2x	—	SUBJECT ISSUER
CAT	Caterpillar Inc.	$622.75	$286.26B	82.2%	17.5%	21.1%	20.8x	+18.4%	SXI VS CAT <GO>
RTX	RTX Corporation	$199.80	$269.62B	—	10.5%	7.2%	26.5x	+9.7%	SXI VS RTX <GO>
TMO	Thermo Fisher Scientific Inc	$697.00	$257.71B	—	17.4%	9.3%	30.4x	+3.9%	SXI VS TMO <GO>
DE	Deere & Company	$675.48	$182.13B	—	13.4%	9.3%	27.9x	-11.7%	SXI VS DE <GO>
UNP	Union Pacific Corporation	$304.00	$180.65B	—	40.2%	20.1%	15.3x	+1.1%	SXI VS UNP <GO>