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Miscellaneous Fabricated Metal Products: capital spending and supply chain

SIC 3490 · 4 companies with filed cash-flow statements

Capital spending, 12 months$631M
Operating cash flow$5.2B
Capex / cash flow12%
Capex / revenue2.0%
Top 3 share95%

Analysis

4 companies in Miscellaneous Fabricated Metal Products (SIC 3490) spent $631M on capital projects over their latest twelve months, 12% of the $5.2B their operations generated; the three largest spenders — PH, WTS, MWA — account for 95%.

Capital spending is 2.0% of the industry's $32.2B of annual revenue.

By the industry's asset mix most of it goes to equipment (53%); about $145M is imported.

The largest supplier of that spending is manufacturing structures ($186M).

Its largest supplying industries, by the input-output tables: imports ($2.6B), iron and steel mills and ferroalloy manufacturing ($1.1B), motor vehicle seating and interior trim manufacturing ($792M).

Charts

Miscellaneous Fabricated Metal Products: capital spending by company, latest twelve monthsMiscellaneous Fabricated Metal Products: capital spending by company, latest twelve monthsPH$479MWTS$63.2MMWA$58.1MHLIO$31.0M
Filed cash-flow statements (SEC XBRL).
Miscellaneous Fabricated Metal Products: what the capital spending buys (US part)Miscellaneous Fabricated Metal Products: what the capital spending buys (US part)Structures$194MEquipment$309MSoftware$47.3MOther$35.7M
Capital spending × the industry’s asset mix (BEA fixed assets): grade C, an industry average applied to filed figures.
Miscellaneous Fabricated Metal Products: the industries that build and sell what it buysMiscellaneous Fabricated Metal Products: the industries that build and sell what it buysManufacturing structures$186MMachine tool manufacturing$43.3MPlate work and fabricated structu…$30.9MCutting and machine tool accessor…$29.7MSpecial tool, die, jig, and fixtu…$29.5MSoftware publishers$26.2MMaterial handling equipment manuf…$18.9MOther industrial machinery manufa…$18.7MOther fabricated metal manufactur…$18.5MAir conditioning, refrigeration, …$17.5M
BEA fixed assets: investment by asset type → supplying industry. Estimates (grade C).
Miscellaneous Fabricated Metal Products: its first-tier supplying industriesMiscellaneous Fabricated Metal Products: its first-tier supplying industriesImports$2.6BIron and steel mills and ferroall…$1.1BMotor vehicle seating and interio…$792MOther durable goods merchant whol…$734MAluminum product manufacturing fr…$631MMetal can, box, and other metal c…$464MManagement of companies and enter…$439MTruck transportation$325MSteel product manufacturing from …$311MAll other forging, stamping, and …$305M
Purchased inputs × the industry’s input mix (BEA Use table), US part: grade C.
Miscellaneous Fabricated Metal Products: where the industry's cash came from (+) and went (−)Miscellaneous Fabricated Metal Products: where the industry's cash came from (+) and went (−)Acquisitions−$9.5BNet borrowing$8.4BOperating cash flow$5.8BCash added to the balance she…−$1.9BDividends−$1.2BBuybacks−$890MCapital spending−$685MOther financing (out)−$275MNot reconciled (in)$214MOther investing (out)−$167MNet debt repaid−$100MOther investing (in)$79.2MSales of assets & businesses$65.9MExchange-rate gains on cash$34.4M
The companies’ cash-flow statements, latest four quarters or fiscal year: every figure filed (grade A).

Capital spending by company

CompanyCapital spendingOperating cash flowCapex / OCFPeriod
PH Parker-Hannifin$479M$4.3B11%TTM to Q1 FY27
WTS Watts Water Technologies$63.2M$434M15%TTM to Q3 2026
MWA Mueller Water Products$58.1M$238M24%TTM to Q3 FY26
HLIO Helios Technologies$31.0M$152M20%TTM to Q3 2026

The interactive money flow: switch views, follow each dollar →

Evidence grades: A filed figure · B computed from filed figures · C industry average (BEA input-output and fixed-asset tables) applied to filed figures. Estimates are not the companies’ own records. Not investment advice.