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Electrical Industrial Apparatus: capital spending and supply chain

SIC 3620 · 6 companies with filed cash-flow statements

Capital spending, 12 months$555M
Operating cash flow$588M
Capex / cash flow94%
Capex / revenue5.9%
Top 3 share92%

Analysis

6 companies in Electrical Industrial Apparatus (SIC 3620) spent $555M on capital projects over their latest twelve months, 94% of the $588M their operations generated; the three largest spenders — BE, WWD, EAF — account for 92%.

Capital spending is 5.9% of the industry's $9.5B of annual revenue.

By the industry's asset mix most of it goes to equipment (50%); about $110M is imported.

The largest supplier of that spending is manufacturing structures ($132M).

Its largest supplying industries, by the input-output tables: imports ($1.2B), household appliances and electrical and electronic goods ($503M), management of companies and enterprises ($229M).

Charts

Electrical Industrial Apparatus: capital spending by company, latest twelve monthsElectrical Industrial Apparatus: capital spending by company, latest twelve monthsBE$254MWWD$209MEAF$45.2MPLUG$40.8MFCEL$4.8MSCIA$1.6M
Filed cash-flow statements (SEC XBRL).
Electrical Industrial Apparatus: what the capital spending buys (US part)Electrical Industrial Apparatus: what the capital spending buys (US part)Structures$140MEquipment$223MSoftware$54.6MOther$27.6M
Capital spending × the industry’s asset mix (BEA fixed assets): grade C, an industry average applied to filed figures.
Electrical Industrial Apparatus: the industries that build and sell what it buysElectrical Industrial Apparatus: the industries that build and sell what it buysManufacturing structures$132MSoftware publishers$30.6MMachine tool manufacturing$24.5MElectromedical and electrotherape…$19.8MCutting and machine tool accessor…$16.8MSpecial tool, die, jig, and fixtu…$16.7MMaterial handling equipment manuf…$14.2MOther general purpose machinery m…$13.4MAir conditioning, refrigeration, …$13.2MPower, distribution, and specialt…$12.0M
BEA fixed assets: investment by asset type → supplying industry. Estimates (grade C).
Electrical Industrial Apparatus: its first-tier supplying industriesElectrical Industrial Apparatus: its first-tier supplying industriesImports$1.2BHousehold appliances and electric…$503MManagement of companies and enter…$229MMotor and generator manufacturing$228MRelay and industrial control manu…$199MPrinted circuit assembly (electro…$190MOrnamental and architectural meta…$170MOther engine equipment manufactur…$170MOther electronic component manufa…$166MOther durable goods merchant whol…$139M
Purchased inputs × the industry’s input mix (BEA Use table), US part: grade C.
Electrical Industrial Apparatus: where the industry's cash came from (+) and went (−)Electrical Industrial Apparatus: where the industry's cash came from (+) and went (−)Other financing (in)$2.4BCash added to the balance she…−$2.4BOperating cash flow$1.3BShares issued$694MOperating cash outflow−$692MBuybacks−$602MCapital spending−$555MNet debt repaid−$282MNot reconciled (in)$226MAcquisitions−$176MNet borrowing$163MDividends−$72.6MOther investing (out)−$69.7MCash drawn from the balance s…$43.3M
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
BE Bloom Energy$254M$691M37%TTM to Q3 2026
WWD Woodward$209M$585M36%TTM to Q3 FY26
EAF Graftech International$45.2M−$113M—TTM to Q3 2026
PLUG Plug Power$40.8M−$483M—TTM to Q2 2026
FCEL Fuelcell Energy$4.8M−$96.3M—TTM to Q3 FY26
SCIA SCI Engineered Materials$1.6M$4.0M40%TTM to Q3 2026

Customers and suppliers named in annual reports

SupplierCustomerShare of supplier revenueEvidenceSource
PLUGWMT24%Stated in 10-K (sentence)filing
WWDU.S. government20%Stated in 10-K (sentence)filing
FCELCNTHP15%Stated in 10-K (XBRL)filing

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.