---
title: "Hubbell Incorporated: Business Model"
description: "Hubbell Incorporated revenue by business segment and geography from its fiscal 2025 Form 10-K, with each part's share, growth and profitability explained."
canonical: https://www.getswoopr.com/stocks/companies/hubbell-incorporated/business-model/
source: "Swoopr Investment: https://www.getswoopr.com"
---

# Hubbell Incorporated: Business Model & Revenue Engine

## Direct Answer

Hubbell Incorporated reports revenue across 2 business segments in its fiscal 2025 Form 10-K. Utility Solutions is the largest, with $3.7 billion of revenue (63% of the total), followed by Electrical at $2.2 billion (37%). 93% of revenue came from the United States.

## How Does Hubbell Incorporated Make Money?

Utility Solutions supplies 63% of revenue, so Hubbell Incorporated's results move mostly with that one business; the others matter more for diversification than for the headline number. Between fiscal 2024 and 2025, Electrical grew fastest (+7.1%) and Utility Solutions slowest (+2.0%), so the revenue mix tilts toward Electrical while that gap lasts.

| Segment | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
| --- | --- | --- | --- | --- |
| Utility Solutions | $3.7 billion | $3.6 billion | 62.8% | 2.0% |
| Electrical | $2.2 billion | $2.0 billion | 37.2% | 7.1% |

![Bar chart of Hubbell Incorporated revenue by segment for fiscal 2025: Utility Solutions 62.8%, Electrical 37.2%.](https://www.getswoopr.com/images/charts/hubbell-incorporated-business-model-segment-mix.webp)
*Hubbell Incorporated revenue by segment as a share of total revenue, from the table above. The largest is highlighted. Select the chart to open it full size.*

## Which Hubbell Incorporated Segments Earn the Most?

| Segment | FY2025 segment operating income | Segment margin |
| --- | --- | --- |
| Utility Solutions | $790 million | 21.5% |
| Electrical | $419 million | 19.3% |

Segment operating income is the profit measure Hubbell Incorporated reports to its chief operating decision maker for each segment. It usually leaves out corporate costs that are not allocated to a segment, so the segments usually add up to more than consolidated operating income, and margins are comparable within Hubbell Incorporated more safely than against another company.

## Where Does Hubbell Incorporated's Revenue Come From?

Regions follow the definitions in the filing; most companies assign revenue by customer location.

| Region | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
| --- | --- | --- | --- | --- |
| United States | $5.4 billion | $5.2 billion | 92.6% | 4.9% |
| Outside the United States | $433 million | $469 million | 7.4% | -7.7% |

## What the Segment Figures Do Not Show

The rows above add up to 100% of Hubbell Incorporated's reported revenue for fiscal 2025; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin.

## Where These Numbers Come From

Every figure on this page is a value Hubbell Incorporated reported in the segment note and revenue disclosures of its Form 10-K filed February 12, 2026 (accession 0001628280-26-007500), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading.

Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2025; it is not a forecast or a recommendation.

## Frequently Asked Questions

### What are Hubbell Incorporated's business segments?

In its fiscal 2025 Form 10-K, Hubbell Incorporated reports revenue for Utility Solutions and Electrical.

### Which part of Hubbell Incorporated brings in the most revenue?

Utility Solutions, with $3.7 billion of revenue in fiscal 2025, or 63% of the total.

### How much of Hubbell Incorporated's revenue comes from outside the United States?

7% in fiscal 2025, by the geographic breakdown Hubbell Incorporated reports in its Form 10-K. Companies assign revenue to regions differently (customer location, shipping address or selling entity), so check the filing's definition before comparing companies.

## References

- [SEC EDGAR: HUBBELL INC Form 10-K filed February 12, 2026](https://www.sec.gov/Archives/edgar/data/48898/000162828026007500/hubb-20251231.htm)
- [SEC EDGAR: HUBBELL INC annual and quarterly filings](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=48898&type=10-K)
- [SEC: EDGAR application programming interfaces (XBRL frames and submissions data)](https://www.sec.gov/search-filings/edgar-application-programming-interfaces)
- [SEC: Financial Statement Data Sets](https://www.sec.gov/data-research/sec-markets-data/financial-statement-data-sets)

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- [Fundamental analysis guides](https://www.getswoopr.com/learn/fundamental-analysis/)

**[Swoopr Editorial Team](https://www.getswoopr.com/authors/swoopr-editorial-team/)**

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