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Systems","tier":3,"returns_yearly":{"2021":36.6,"2022":-13.8,"2023":69.6,"2024":10.3,"2025":4,"2026":12.9}},{"slug":"besi","name":"BESI","name_en":"BESI","tier":3,"returns_yearly":{"2021":33.7,"2022":-6.1,"2023":121.8,"2024":-9.3,"2025":35,"2026":9.8}},{"slug":"synopsys","name":"Synopsys","name_en":"Synopsys","tier":3,"returns_yearly":{"2021":42.1,"2022":-13.4,"2023":61.3,"2024":-5.7,"2025":-3.2,"2026":8.6}},{"slug":"alphabet","name":"알파벳 (구글)","name_en":"Alphabet (Google)","tier":3,"returns_yearly":{"2021":65.3,"2022":-39.1,"2023":58.3,"2024":36,"2025":66,"2026":8.3}},{"slug":"nextera-energy","name":"NextEra Energy","name_en":"NextEra Energy","tier":3,"returns_yearly":{"2021":23.4,"2022":-8.5,"2023":-25.3,"2024":21.5,"2025":15.5,"2026":6.2}},{"slug":"broadcom","name":"Broadcom","name_en":"Broadcom","tier":3,"returns_yearly":{"2021":56.5,"2022":-13.3,"2023":104.2,"2024":110.5,"2025":50.6,"2026":5}},{"slug":"airbus","name":"에어버스","name_en":"Airbus","tier":3,"returns_yearly":{"2021":34.8,"2022":3.9,"2023":30.5,"2024":15,"2025":18.3,"2026":4.8}},{"slug":"ebara","name":"Ebara","name_en":"Ebara","tier":3,"returns_yearly":{"2021":58.1,"2022":2.3,"2023":76.1,"2024":41,"2025":84,"2026":3.3}},{"slug":"blackrock","name":"BlackRock","name_en":"BlackRock","tier":3,"returns_yearly":{"2021":29.4,"2022":-20.4,"2023":17.9,"2024":29.3,"2025":6.6,"2026":2.8}},{"slug":"centerpoint-energy","name":"센터포인트 에너지","name_en":"CenterPoint Energy","tier":3,"returns_yearly":{"2021":32.4,"2022":10,"2023":-2.1,"2024":14.3,"2025":23.7,"2026":2.4}},{"slug":"siemens-energy","name":"Siemens Energy","name_en":"Siemens Energy","tier":3,"returns_yearly":{"2021":-35.4,"2022":-2.7,"2023":-27,"2024":314.2,"2025":149.9,"2026":1.8}},{"slug":"spacex","name":"스페이스X","name_en":"SpaceX","tier":3,"returns_yearly":{"2026":0.7}},{"slug":"boeing","name":"보잉","name_en":"Boeing","tier":3,"returns_yearly":{"2021":-6,"2022":-5.4,"2023":36.8,"2024":-32.1,"2025":22.7,"2026":-2.2}},{"slug":"hoya","name":"호야","name_en":"Hoya Corporation","tier":3,"returns_yearly":{"2021":10.8,"2022":-3,"2023":34.4,"2024":11.3,"2025":24.9,"2026":-2.5}},{"slug":"te-connectivity","name":"TE Connectivity","name_en":"TE Connectivity","tier":3,"returns_yearly":{"2021":35.1,"2022":-27.7,"2023":24.6,"2024":3.5,"2025":61.1,"2026":-3}},{"slug":"cameco","name":"Cameco","name_en":"Cameco","tier":3,"returns_yearly":{"2021":63.2,"2022":4.3,"2023":90.5,"2024":19.5,"2025":78.4,"2026":-3.7}},{"slug":"fanuc","name":"FANUC","name_en":"FANUC","tier":3,"returns_yearly":{"2021":-16.5,"2022":4.4,"2023":-8.1,"2024":15.6,"2025":37.7,"2026":-4.5}},{"slug":"meta","name":"메타 플랫폼스","name_en":"Meta Platforms","tier":3,"returns_yearly":{"2021":23.1,"2022":-64.2,"2023":194.1,"2024":66,"2025":13.1,"2026":-6.4}},{"slug":"lasertec","name":"Lasertec","name_en":"Lasertec","tier":3,"returns_yearly":{"2021":78.9,"2022":2.4,"2023":57,"2024":-60.6,"2025":138.9,"2026":-8.5}},{"slug":"workday","name":"워크데이","name_en":"Workday, Inc.","tier":3,"returns_yearly":{"2021":14,"2022":-38.7,"2023":65,"2024":-6.5,"2025":-16.8,"2026":-8.8}},{"slug":"photronics","name":"Photronics","name_en":"Photronics","tier":3,"returns_yearly":{"2021":68.9,"2022":-10.7,"2023":86.4,"2024":-24.9,"2025":35.8,"2026":-9}},{"slug":"textron","name":"텍스트론","name_en":"Textron","tier":3,"returns_yearly":{"2021":59.9,"2022":-8.2,"2023":13.7,"2024":-4.8,"2025":14.1,"2026":-9.3}},{"slug":"shopify","name":"Shopify","name_en":"Shopify","tier":3,"returns_yearly":{"2021":21.7,"2022":-74.8,"2023":124.4,"2024":36.5,"2025":51.4,"2026":-9.9}},{"slug":"phison","name":"Phison","name_en":"Phison Electronics","tier":3,"returns_yearly":{"2021":26.8,"2022":-10.7,"2023":45.1,"2024":-6.7,"2025":418.3,"2026":-12.8}},{"slug":"leeno","name":"리노공업","name_en":"Leeno Industrial","tier":3,"returns_yearly":{"2021":21,"2022":-5.3,"2023":18.3,"2024":9.5,"2025":150.1,"2026":-17}},{"slug":"disco","name":"디스코","name_en":"Disco Corporation","tier":3,"returns_yearly":{"2021":-6.6,"2022":27.7,"2023":218.5,"2024":11.6,"2025":49.6,"2026":-17.3}},{"slug":"avio","name":"아비오","name_en":"Avio","tier":3,"returns_yearly":{"2021":-9.9,"2022":-4.7,"2023":-17.1,"2024":98.4,"2025":117,"2026":-18.3}},{"slug":"hd-hyundai-electric","name":"HD Hyundai Electric","name_en":"HD Hyundai Electric","tier":3,"returns_yearly":{"2021":4.2,"2022":132.5,"2023":159.4,"2024":300.5,"2025":120.2,"2026":-31.3}},{"slug":"rigetti","name":"Rigetti Computing","name_en":"Rigetti Computing","tier":3,"returns_yearly":{"2022":-92.9,"2023":35.1,"2024":1449.2,"2025":45.2,"2026":-31.4}},{"slug":"ubtech","name":"UBTech","name_en":"UBTech Robotics","tier":3,"returns_yearly":{"2024":-21.6,"2025":95.4,"2026":-38.8}},{"slug":"siemens-eda","name":"Siemens EDA","name_en":"Siemens EDA","tier":3,"returns_yearly":null},{"slug":"jsr","name":"JSR","name_en":"JSR Corporation","tier":3,"returns_yearly":null},{"slug":"hitachi-hightech","name":"히타치 하이테크","name_en":"Hitachi High-Tech","tier":3,"returns_yearly":null}],"analysis":"전력망·전기부품 제조사 기업. 최근 몇 년간 견조한 상승이 이어졌고 2026년 +4.7%다. 본주(+4.7%)와 공급단(평균 +9%)이 같은 보폭으로 움직인다. 연결 노드 중 가장 앞선 곳은 아마존(+12%), 가장 처진 곳은 NXP반도체(+5.9%)다. 격차가 사슬 논리로 설명되면 후자가 다음 전파 후보이고, 설명되지 않으면 그 연결 자체를 다시 봐야 한다.","analysis_en":"Hubbell Incorporated operates across Grid and electrical equipment maker. It stayed steadily positive in recent years and is +4.7% in 2026. The stock (+4.7%) and its supply side (avg +9%) are moving in step. Among connected nodes the furthest ahead is Amazon (+12%) and the furthest behind is NXP Semiconductors (+5.9%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. It sources steel, aluminum, copper, castings and electronic components from external suppliers, and acquired DMC Power in 2025 to expand its high-voltage connection portfolio.","analysis_asof":"2026-09-04"},"edges":[{"direction":"investment","counterparty":"DMC Power","counterparty_slug":null,"confidence":"high","metric":{"type":"amount","unit":"USD","as_of":"2025-10-01","basis":"DMC Power 인수가격, 취득 현금 차감 후","value":829000000,"period":"2025 acquisition","basis_en":"DMC Power purchase price, net of cash acquired","qualifier":"approximately"},"note":"허벨은 2025년 10월 1일 DMC Power의 지분 전부를 현금 차감 후 약 8억2,900만달러에 인수했다. DMC Power는 변전소와 송전 시장용 스웨이지 접속 시스템·공구 사업으로 유틸리티 솔루션 부문에 편입됐다.","note_en":"Hubbell acquired all outstanding equity of DMC Power on October 1, 2025 for approximately $829 million net of cash acquired. DMC Power supplies swaged connection systems and tooling for utility substation and transmission markets and was added to Utility Solutions.","sources":[{"stance":"confirms","publisher":"미국 증권거래위원회 EDGAR","publisher_en":"U.S. Securities and Exchange Commission EDGAR","kind":"filing","lang":"en","published_at":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/48898/000162828026007500/hubb-20251231.htm","title":"허벨 2025 회계연도 Form 10-K","title_en":"Hubbell Incorporated Form 10-K for FY2025","excerpt":"허벨은 2025년 10월 1일 DMC Power의 발행주식 전부를 취득 현금 차감 후 약 8억2,900만달러에 인수했다고 공시했다.","excerpt_en":"On October 1, 2025, the Company acquired all of the issued and outstanding equity of Power Rose Acquisition, Inc. ... for approximately $829 million, net of cash acquired."},{"stance":"confirms","publisher":"매일경제","publisher_en":"Maeil Business Newspaper","kind":"news","lang":"ko","published_at":"2025-10-02","url":"https://www.mk.co.kr/news/stock/11434644","title":"[美공시] 허벨, 고전압 인프라 솔루션 강화를 위해 DMC Power 인수 완료","title_en":"Hubbell Completes DMC Power Acquisition to Strengthen High-Voltage Infrastructure Solutions","excerpt":"허벨은 Golden Gate Capital 계열사로부터 DMC Power 인수를 완료했으며, DMC Power는 고전압 전력 인프라용 커넥터 기술 시스템을 전문으로 한다.","excerpt_en":"Hubbell completed its acquisition of DMC Power from an affiliate of Golden Gate Capital; DMC Power specializes in connector technology systems for high-voltage power infrastructure."},{"stance":"mentions","publisher":"Investing.com","publisher_en":"Investing.com","kind":"analysis","lang":"en","published_at":"2025-09-11","url":"https://ca.investing.com/news/transcripts/hubbell-at-morgan-stanleys-laguna-conference-strategic-growth-insights-93CH-4200596","title":"Morgan Stanley Laguna 콘퍼런스에서 밝힌 허벨의 전략적 성장 전망","title_en":"Hubbell at Morgan Stanley's Laguna Conference: Strategic Growth Insights","excerpt":"Morgan Stanley 애널리스트는 8억2,500만달러 인수가 DMC Power의 2026년 예상 EBITDA 6,000만달러 대비 약 14~15배라고 짚었다. 허벨 경영진은 이 사업이 약 20% 성장해 왔고 기존 허벨 제품보다 마진이 높다고 설명했다.","excerpt_en":"Fourteen, fifteen times EBITDA for something that could grow 20%. ... It's been growing at 20% and I'm expecting that it continues to grow really impressively."}]},{"direction":"investor","counterparty":"BlackRock","counterparty_slug":"blackrock","confidence":"high","metric":{"type":"share","unit":"percent","as_of":"2025-03-31","basis":"BlackRock의 허벨 보통주 실질 보유 비율","value":7.6,"period":"as of 2025-03-31","basis_en":"BlackRock beneficial ownership of Hubbell common stock","qualifier":null},"note":"허벨의 2026년 위임장 공시에 따르면 BlackRock은 2025년 3월 31일 기준 4,013,112주를 실질 보유해 발행주식의 7.6%를 차지했다.","note_en":"Hubbell's 2026 proxy states that BlackRock beneficially owned 4,013,112 shares as of March 31, 2025, representing 7.6% of the class.","sources":[{"stance":"confirms","publisher":"미국 증권거래위원회 EDGAR","publisher_en":"U.S. Securities and Exchange Commission EDGAR","kind":"filing","lang":"en","published_at":"2026-03-23","url":"https://www.sec.gov/Archives/edgar/data/48898/000130817926000121/hubb014454-def14a.htm","title":"허벨 2026 정기주주총회 위임장","title_en":"Hubbell Incorporated 2026 Proxy Statement","excerpt":"2026년 위임장 표는 BlackRock의 실질 보유 주식 수를 4,013,112주, 지분율을 7.6%로 제시한다.","excerpt_en":"BlackRock, Inc. ... 4,013,112 ... 7.6%."}]},{"direction":"revenue","counterparty":"Wesco International","counterparty_slug":null,"confidence":"high","metric":{"type":"amount","unit":"USD","as_of":"2024-08-01","basis":"Wesco의 허벨 제품 구매액","value":null,"period":"2023","basis_en":"Wesco purchases from Hubbell","qualifier":"confirmed_no_disclosed_value"},"note":"Wesco는 2024년 2분기 SEC 제출 발표자료에서 허벨을 자사의 상위 10개 상장 공급사 중 하나로 열거했다. 이 상위 10개사는 합산해 2023년 매출원가의 약 25%를 차지했지만 허벨 개별 구매액은 공개되지 않았다.","note_en":"Wesco identified Hubbell as one of its top 10 publicly traded suppliers in a second-quarter 2024 presentation filed with the SEC. The group represented about 25% of Wesco's 2023 cost of goods sold, but Hubbell's individual purchase value was not disclosed.","sources":[{"stance":"confirms","publisher":"미국 증권거래위원회 EDGAR","publisher_en":"U.S. Securities and Exchange Commission EDGAR","kind":"filing","lang":"en","published_at":"2024-08-01","url":"https://www.sec.gov/Archives/edgar/data/929008/000092900824000020/wcc-2q2024slides.htm","title":"Wesco 2024년 2분기 웹캐스트 발표자료","title_en":"Wesco Second Quarter 2024 Webcast Presentation","excerpt":"Wesco는 허벨을 상위 10개 상장 공급사 중 하나로 열거했다. 이 공급사들은 합산해 Wesco의 2023년 매출원가 약 25%를 차지했으며 어느 단일 공급사도 구매액의 5%를 넘지 않았다.","excerpt_en":"Wesco's Top 10 Public Suppliers ... Includes Wesco's top 10 publicly traded suppliers ... Making up ~25% of total Wesco COGs ... No one supplier accounted for more than 5% of Wesco's purchases in 2023."}]},{"direction":"cost","counterparty":"NXP반도체","counterparty_slug":"nxp","confidence":"high","metric":{"type":"amount","unit":"USD","as_of":"2019-12-04","basis":"iDevices의 NXP 마이크로컨트롤러 솔루션 구매액","value":null,"period":"2019","basis_en":"iDevices purchases of NXP microcontroller solutions","qualifier":"confirmed_no_disclosed_value"},"note":"허벨의 스마트홈 사업부 iDevices는 Instinct 스마트 스위치에 NXP의 i.MX RT106A 마이크로컨트롤러 솔루션을 사용했다. NXP와 iDevices 양측 책임자 발언이 포함된 NXP 공식 발표가 공급 관계를 확인하며 거래액은 공개되지 않았다.","note_en":"Hubbell's iDevices smart-home division used NXP's i.MX RT106A microcontroller solution in its Instinct smart switch. An NXP announcement containing statements from both NXP and iDevices confirms the supply relationship; transaction value was not disclosed.","sources":[{"stance":"confirms","publisher":"NXP반도체","publisher_en":"NXP Semiconductors","kind":"news","lang":"en","published_at":"2019-12-04","url":"https://www.nxp.com/company/about-nxp/newsroom/NW-IDEVICES-SMART-HOME","title":"NXP와 iDevices, AWS IoT Core용 Alexa Voice Service 통합 기반 스마트홈 IoT 기기 개발","title_en":"NXP and iDevices Build a Microcontroller-Enabled Smart Home IoT Device Using the Alexa Voice Service Integration for AWS IoT Core","excerpt":"NXP는 허벨의 스마트홈 사업부 iDevices가 출시한 Instinct 스마트 스위치가 NXP의 i.MX RT106A MCU 기반 Alexa 솔루션을 사용한다고 밝혔다.","excerpt_en":"This award winning product utilizes NXP's i.MX RT106A MCU based solution for Alexa and uses the AVS Integration for AWS IoT Core."}]},{"direction":"cost","counterparty":"아마존","counterparty_slug":"amazon","confidence":"high","metric":{"type":"amount","unit":"USD","as_of":"2019-12-04","basis":"iDevices의 AWS IoT Core 사용액","value":null,"period":"2019","basis_en":"iDevices spending on AWS IoT Core","qualifier":"confirmed_no_disclosed_value"},"note":"허벨의 스마트홈 사업부 iDevices는 Instinct 스마트 스위치에 AWS IoT Core용 Alexa Voice Service 통합을 사용했다. iDevices 최고기술책임자는 NXP 및 AWS IoT Core와의 협업이 출시 기간 단축과 인프라 비용 최적화에 기여했다고 밝혔으며 거래액은 공개되지 않았다.","note_en":"Hubbell's iDevices smart-home division used the Alexa Voice Service Integration for AWS IoT Core in its Instinct smart switch. The iDevices chief technology officer said work with NXP and AWS IoT Core accelerated time to market and optimized infrastructure costs; transaction value was not disclosed.","sources":[{"stance":"confirms","publisher":"NXP반도체","publisher_en":"NXP Semiconductors","kind":"news","lang":"en","published_at":"2019-12-04","url":"https://www.nxp.com/company/about-nxp/newsroom/NW-IDEVICES-SMART-HOME","title":"NXP와 iDevices, AWS IoT Core용 Alexa Voice Service 통합 기반 스마트홈 IoT 기기 개발","title_en":"NXP and iDevices Build a Microcontroller-Enabled Smart Home IoT Device Using the Alexa Voice Service Integration for AWS IoT Core","excerpt":"iDevices 최고기술책임자는 NXP 및 AWS IoT Core와의 협업이 Alexa 내장 솔루션을 제공해 출시 기간을 단축하고 인프라 비용을 최적화했다고 말했다.","excerpt_en":"Working with NXP and AWS IoT Core provided just that, allowing iDevices to accelerate time-to-market and optimize infrastructure costs."}]},{"direction":"revenue","counterparty":"OmniCable","counterparty_slug":null,"confidence":"mid","metric":{"type":"amount","unit":"USD","as_of":"2024-07-09","basis":"OmniCable 마스터 재유통 관계의 거래액","value":null,"period":"2024","basis_en":"Transaction value under the OmniCable master-redistributor relationship","qualifier":"confirmed_no_disclosed_value"},"note":"OmniCable은 허벨의 구내 데이터·통신 사업부가 선정한 북미 마스터 재유통사다. 케이블, 커넥터, 패치패널, 인클로저 등 허벨 제품을 재고로 보유해 전기·통신 유통사에 공급하며 거래액은 공개되지 않았다.","note_en":"OmniCable is the master redistributor selected by Hubbell's premise data and communications division in North America. It stocks Hubbell cable, connectors, patch panels, enclosures and related products for resale to distributors; transaction value is not disclosed.","sources":[{"stance":"confirms","publisher":"OmniCable","publisher_en":"OmniCable","kind":"news","lang":"en","published_at":"2024-07-09","url":"https://www.omnicable.ca/about-us/news/2024/07/09/omnicable-selected-as-redistributor-for-hubbell-premise-wiring","title":"OmniCable, Hubbell Premise Wiring 재유통사로 선정","title_en":"OmniCable Selected as Redistributor for Hubbell Premise Wiring","excerpt":"OmniCable은 허벨의 구내 데이터·통신 사업부가 자사를 주요 마스터 재유통사로 선정했으며, 허벨 제품 주문·재고·신속 배송을 유통사에 제공한다고 밝혔다.","excerpt_en":"Omni Cable, LLC (OmniCable) ... announced it has been selected as the premier master redistributor for Hubbell Incorporated's premise data and communications division."}]}]}