Top 15 Hardware, Equipment & Parts Stocks by Marvin Score
Marvin's rules rank 15 hardware, equipment and parts companies by Overall score. Amphenol, ESCO Technologies and Jabil lead. Scores compare each company only with others in its industry.
Hardware, equipment and parts companies make the components, instruments and systems that other technology products are built from. This list covers 15 of them, all above about $300 million in size, ordered by Marvin's Overall score.
Look at the figures behind each score. Some companies here have high margins and little debt. Others earn thin margins or carry more borrowing. A strong score does not mean every figure is strong, so each pick below includes a caution.
Marvin's scores only describe how a company compares with others in its industry today. They are not a prediction and not advice to buy or sell.
The list
How Marvin ranked these stocks
Marvin included companies above about $300 million in size from the Hardware, Equipment & Parts industry and ranked them by Overall score, highest first. Marvin scores run from zero to one hundred and are relative to each company's own industry, so a high score means a company looks strong against its industry peers, not against every stock in the market. Data is as of 2026-10-21.
Companies above about $300 million in size, ranked by Marvin scores (0-100, relative to each company's own industry). The Hardware, Equipment & Parts industry, highest Overall score first.
The stocks, one by one
Amphenol Corporation APH
Amphenol leads the list with an overall score of 96. Revenue grew 51.7% last fiscal year, and an operating margin of 27.0% points to strong profitability. Caution: debt-to-equity of 1.11 means its borrowing is not negligible.
ESCO Technologies Inc. ESE
ESCO Technologies scores 93 overall. Revenue grew 19.2% and the free cash flow margin is 16.1%, while debt-to-equity is only 0.09, a light debt load. Caution: no operating margin figure is available, so profitability is only partly visible.
Jabil Inc. JBL
Jabil's overall score is 91, helped by an opportunity score of 92. Return on equity is 65.2%, but margins are thin, with a gross margin of 9.2%. Caution: debt-to-equity of 2.94 is high and growth of 3.2% was modest.
Teledyne Technologies Incorporated TDY
Teledyne has a quality score of 94, an operating margin of 19.4% and a free cash flow margin of 17.9%, with debt-to-equity of only 0.19. Caution: its opportunity score is just 53 and return on equity is 8.9%, both weaker than its quality.
Bel Fuse Inc. BELFB
Bel Fuse pairs revenue growth of 26.3% with an operating margin of 15.9% and almost no debt, as debt-to-equity is 0.04. Caution: return on equity is only 5.9%, so profit relative to shareholder capital is low.
CTS Corporation CTS
CTS earns an operating margin of 15.9% and a free cash flow margin of 15.8%, suggesting steady profit that turns into cash. Caution: growth was slow at 5.2%, and no debt-to-equity figure is available to judge its borrowing.
Cognex Corporation CGNX
Cognex has a gross margin of 68.9% and a free cash flow margin of 24.6%, both strong, plus very little debt at 0.04 debt-to-equity. Caution: its opportunity score is only 37 and revenue growth was just 8.7%.
Celestica Inc. CLS
Celestica grew revenue 28.5% and posted a return on equity of 45.0%, with an opportunity score of 94. Caution: margins are thin, with a gross margin of 12.0% and a free cash flow margin of 3.3%, leaving less cushion.
Universal Display Corporation OLED
Universal Display has a gross margin of 75.3% and a free cash flow margin of 36.3%, very high profitability figures. Caution: revenue growth was just 0.5% last fiscal year, and no debt-to-equity figure is available.
Keysight Technologies, Inc. KEYS
Keysight shows an operating margin of 20.3%, a gross margin of 64.7% and modest debt at 0.42 debt-to-equity. Caution: revenue growth was 8.0%, and its opportunity score of 51 sits well below its quality score of 88.
Vicor Corporation VICR
Vicor has a quality score of 86, revenue growth of 26.1% and a return on equity of 18.1%. Caution: margin and debt figures are missing, and its opportunity score is only 59, so the picture is incomplete.
Advanced Energy Industries, Inc. AEIS
Advanced Energy grew revenue 21.4% and has an operating margin of 13.2%. Caution: its free cash flow margin is just 4.3%, so little of its revenue became spare cash, and debt-to-equity is 0.95.
MKS Inc. MKSI
MKS reports a gross margin of 47.0% and an operating margin of 15.7%, solid but not standout. Caution: its quality score is 62 and debt-to-equity is 1.32, one of the higher debt levels on this list.
Corning Inc GLW
Corning grew revenue 19.1% and has an operating margin of 15.3% and a free cash flow margin of 14.1%. Caution: its quality score of 56 is the lowest on this list, and gross margin is 36.4%.
Vontier Corporation VNT
Vontier has an operating margin of 18.8% and a return on equity of 29.2%. Caution: revenue growth was just 3.2%, debt-to-equity is 1.62, and no gross margin figure is available.
Common questions
What does the Hardware, Equipment & Parts industry include?
It is a broad group of companies that make components, instruments and equipment used in other technology products and systems. Because the group is varied, margins and debt levels differ a lot from one company to the next.
What do Marvin's quality and opportunity scores mean?
Quality describes the strength of a company's business figures, such as margins and returns, compared with others in its industry. Opportunity is a separate score on the same comparison. Both run from zero to one hundred and describe today only, not the future.
Why do some stocks have missing figures?
Some figures, such as operating margin, debt-to-equity or gross margin, are not available for every company. Where one is missing, Marvin does not estimate it, and the pick's description says so.
Keep reading
- Top 15 Technology Stocks by Marvin Opportunity Score
- Top 15 Technology Companies With the Strongest Businesses
- Top 15 Technology Stocks Right Now, Ranked by Marvin Scores
- Top 15 Leisure Stocks Ranked by Marvin Score
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Marvin's scores (0-100) compare each company with others in its industry today. Growth and margin figures come from SEC filings. This is general information, not personal investment advice or a recommendation to buy or sell anything. Do your own research.