Start here if you're new
what it is
It makes the clamps, dampers, closures, and cable hardware that keep power and telecom lines attached and working.
how it gets paid
Last year Preformed Line Prod made $669M in revenue. Energy network products was the main engine at $301M, or 45% of sales.
why it's growing
Revenue grew 12.7% last year. The number that mattered was $7.50 in full-year EPS.
what just happened
The key earnings takeaway: full-year EPS fell to $7.50 in 2024 from $12.68 in 2023, even with annual revenue at $669M.
At a glance
B+ balance sheet — decent shape, but not bulletproof
60/100 earnings predictability — reasonably predictable
34.3x trailing p/e — you're paying up for this one
0.3% dividend yield — cash in your pocket every quarter
8.6% return on capital — nothing to write home about
xvary composite: 57/100 — below average
What they do
It makes the clamps, dampers, closures, and cable hardware that keep power and telecom lines attached and working.
PLPC wins by selling the boring part your network cannot skip. If a power line or fiber run fails, the cheap-looking hardware suddenly matters a lot. That reliability habit shows up in a 12.2% operating margin and just $38 million of long-term debt, or 3% of capital, per.
How they make money
$669M
annual revenue · their business grew +12.7% last year
Energy network products
$301M
Telecom line hardware
$214M
Closures and data cabinets
$100M
Solar, underground, and other hardware
$54M
The products that matter
supports overhead line construction
Overhead Line Hardware
inside a $669M business
the snapshot does not break revenue out by product, so you should treat this as a core business line inside the full $669M company that grew 12.7% last year.
grid exposure
protects underground cable networks
Underground Cable Systems
supported $208.5M gross profit
this line sits inside the same portfolio that produced $208.5M in gross profit, which tells you the business has room for profit — just not enough yet to make the valuation easy.
margin watch
automation and installation initiative
FulcrumAir Partnership
execution matters
this is one of the few disclosed growth levers in the current snapshot, but there is no hard revenue contribution attached to it yet. You are watching for proof, not a press-release story.
catalyst watch
Key numbers
34.3x
trailing p/e
Jargon: P/E → price divided by earnings → so what: you are paying a premium price for a cyclical hardware business.
$669M
annual revenue
Revenue grew 12.7% vs. prior year, which shows the business is still expanding even as profits cooled.
12.2%
operating margin
Jargon: operating margin → profit after running the business → so what: PLPC is profitable, but not enough to make 34.3x earnings look cheap.
$38M
long-term debt
Debt is only 3% of capital, which means the balance sheet is not the problem here.
Financial health
B+
strength
- balance sheet grade B+ — solid but not elite
- risk rank 3 — safer than 50% of stocks
- price stability 40 / 100
- long-term debt $38M (3% of capital)
B+ — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for PLPC right now.
source: institutional data · return history unavailable
What just happened
missed estimates
The key earnings takeaway: full-year EPS fell to $7.50 in 2024 from $12.68 in 2023, even with annual revenue at $669M.
's quarterly history shows EPS cooling across 2024, with Q4 EPS at $2.13 versus $1.29 a year earlier, but the full year still landed far below 2023. EDGAR shows annual revenue of $669M, up 12.7%, and gross margin of 31.6%, so sales held up better than earnings.
$669M
revenue
$2.13
eps
31.6%
gross margin
the number that mattered
The number that mattered was $7.50 in full-year EPS, because that is down 40.9% from $12.68 in 2023 while the stock still trades at 34.3x earnings.
source: quarterly history and SEC filing, 2026
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What could go wrong
the #1 risk is multiple compression from a premium valuation.
high
premium valuation vs. better-returning peers
PLPC trades at 36.6x earnings. Amphenol trades at 24.1x. You're paying a 52% premium for a business with 8.6% return on capital versus 15.7% for the peer. That gap is the whole risk.
If the market decides PLPC deserves an industrial multiple instead of a premium one, the stock can fall without the business getting worse.
med
earnings deterioration despite revenue growth
Trailing net income fell 5.2% even after revenue grew 12.7%. The next quarter's EPS estimate is $1.63 versus $2.34 a year ago. That's a business telling you volume alone is not enough.
A second weak print would put pressure on both earnings expectations and the multiple investors are willing to pay.
low
thin disclosed catalyst set
FulcrumAir is one of the few visible initiatives in the current snapshot, but there is no disclosed revenue contribution tied to it. That leaves you depending on the core business to do the heavy lifting at a premium price.
When the catalyst list is short, disappointment has fewer offsets.
low
governance noise
A director's death in September 2025 triggered board changes, and a chair recently returned 2,500 shares to the company. None of this is fatal on its own. It does add one more variable to a story that already needs clean execution.
For a $1B company, management and board stability matter more than they do at megacap scale.
A stock at 36.6x earnings with a 30% near-term EPS decline forecast does not need a disaster to rerate lower.
source: institutional data · regulatory filings · risk analysis
Pay attention to
calendar
q1 2026 earnings report
April 30, 2026 is the next big date. The EPS estimate is $1.63 versus $2.34 a year ago. If management clears that bar but margins still compress, the quarter will not feel like a win.
metric
profit conversion
Revenue grew 12.7% last year while trailing net income fell 5.2%. You want to see those lines move together again. If not, the premium multiple keeps looking misplaced.
trend
FulcrumAir proof points
Watch for any hard numbers tied to the partnership — orders, revenue, margin lift, or deployment scale. Right now it's an idea with strategic logic, not a quantified driver.
risk
valuation gap vs. Amphenol
PLPC at 36.6x versus Amphenol at 24.1x is the cleanest sanity check on the stock. If PLPC does not start earning like a premium business, the gap becomes a problem instead of a compliment.
Analyst rankings
earnings predictability
60 / 100
in human-speak: analysts think the earnings line is only moderately dependable, so you should expect some noise.
balance sheet
B+
good enough that solvency is not the story. The stock's problem is what you're paying, not whether the company survives.
risk rank
3
middle of the pack. Not reckless, not defensive. You are still dealing with a small-cap name with a 40 / 100 price stability score.
source: institutional data
Institutional activity
institutional ownership data for PLPC is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$259
current price
n/a
target midpoint · n/a from current
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