Preformed Line Products Company (PLPC) Stock

Preformed Line Products Company (PLPC) is a Industrials stock trading at $391.31 (as of 2026-09-02), with a market capitalization of $1.91B and a trailing P/E of 44.4. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Preformed Line Products Company designs and manufactures hardware and formed wire products used to construct and maintain overhead, ground-mounted, and underground networks for energy, telecommunications, cable, information, and related industries. Its offerings include cable support, protection, termination, and control products, as well as components and closures for transmission conductors and fixed communication lines.

Understand Preformed Line Products Company: how it makes money

PLPC manufactures specialized hardware (formed wire, spacers, dampers) that secures and protects power and telecom lines, sold to utility and telecom contractors. Revenue tracks grid and network buildout cycles, with customers paying a premium for engineered, application-specific components.

Profit comes from engineering-qualified hardware with long spec-list lock-in; revenue is lumpy with utility capex cycles but sticky once a product enters a utility's approved list.

Business quality (Solid): Specialized industrial with genuine product differentiation; 25% growth at a 13% operating margin suggests a business still scaling its cost structure to match expanding revenue.

Valuation: At 45× earnings, PLPC trades 91% above the Construction average (23×).

Bull case

  • Grid Buildout Driving 25% Growth: Quarterly revenue reached $200M, up 25% year over year, reflecting sustained utility and telecom infrastructure spending across North America.
  • Engined Products Command Premium Pricing: A 34% gross margin on specialized wire forms and spacers signals that competitors cannot easily replicate the engineering, testing, and certification behind each SKU.

Bear case

  • Priced for Perfection at 45x Earnings: The stock trades at 44.7x earnings versus a 23x Construction industry average, a 91% premium that leaves little cushion if grid capex normalizes or projects slip.
  • Small Base, Lumpy Order Flow: At roughly $200M in quarterly revenue, a single delayed utility project or a slower telecom buildout quarter can swing results materially given the limited diversification.
Valuation — source: SEC EDGAR (first-party)
Price$391.31
Market Cap$1.91B
P/E Ratio44.4
EV / EBITDA21.0
Price / Book3.87
Price / Sales2.58
FCF Yield1.7%
DCF Value (model)$101.41
DCF Upside vs Price-74.1%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$669.34M
Net Margin5.3%
Revenue Growth (YoY)25.4%
EPS Growth (YoY)74.8%
FCF Growth (YoY)8.2%
Financial Health — source: SEC EDGAR
Altman Z-Score9.43 (safe)
Piotroski F-Score5/9 (moderate)
Valuation vs Sector & Industry
Stock P/E44.4
Sector P/E (Industrials)25.7
Industry P/E (Construction)22.8
vs Sector72.7%
vs Industry94.7%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderHighTower Advisors, LLC ($262.10M)
Institutional Holders Tracked10
Company
SectorIndustrials
IndustryConstruction
CEODennis F. McKenna
Employees3,401
CountryUS
IPO Date1999-04-28

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  • Nine Energy Service, Inc. (NINE)
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PLPC earnings history · PLPC institutional & insider holders · PLPC KPIs & operating metrics · PLPC financials · PLPC investor presentations & press releases · PLPC SEC filings · PLPC peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-09-02.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.