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NWPX

NWPX Infrastructure, Inc.

NWPX

NWPX Infrastructure, Inc. • NASDAQ
$58.62 ▲ 0.19% (+0.11)
Market Cap $563.32 M
52w High $65.84
52w Low $36.97
Dividend Yield 0%
P/E 16.02
Volume 19.77K
Outstanding Shares 9.61M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $151.067M ▲ $13.113M ▲ $13.505M ▲ 8.94% ▲ $1.38 ▲ $27.078M ▲
Q2-2025 $133.182M ▲ $12.129M ▼ $9.063M ▲ 6.805% ▲ $0.92 ▲ $18.13M ▲
Q1-2025 $116.115M ▼ $13.796M ▲ $3.964M ▼ 3.414% ▼ $0.4 ▼ $5.569M ▼
Q4-2024 $119.627M ▼ $11.941M ▲ $10.096M ▼ 8.44% ▲ $1.02 ▼ $10.497M ▼
Q3-2024 $130.201M $11.581M $10.253M 7.875% $1.03 $20.617M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $2.671M ▲ $605.233M ▲ $218.881M ▲ $386.352M ▲
Q2-2025 $2.031M ▼ $592.58M ▲ $213.128M ▲ $379.452M ▲
Q1-2025 $5.285M ▲ $582.234M ▼ $203.778M ▼ $378.456M ▲
Q4-2024 $5.007M ▼ $589.653M ▼ $215.65M ▼ $374.003M ▲
Q3-2024 $5.723M $617.19M $254.83M $362.36M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $13.505M ▲ $20.978M ▲ $-7.789M ▼ $-12.549M ▼ $640K ▲ $13.179M ▲
Q2-2025 $9.063M ▲ $5.424M ▲ $-3.474M ▲ $-5.204M ▼ $-3.254M ▼ $1.929M ▲
Q1-2025 $3.964M ▼ $4.848M ▼ $-3.67M ▲ $-900K ▲ $278K ▲ $1.178M ▼
Q4-2024 $10.096M ▼ $36.123M ▲ $-4.189M ▲ $-32.65M ▼ $-716K ▼ $31.933M ▲
Q3-2024 $10.253M $22.743M $-5.974M $-15.574M $1.195M $16.768M

Revenue by Products

Product Q1-2015Q3-2015Q2-2025Q3-2025
Precast Infrastructure and Engineered Systems
Precast Infrastructure and Engineered Systems
 $0 ▲$0 ▲$50.00M ▲$50.00M ▲
Tubular Products
Tubular Products
 $0 ▲$10.00M ▲$0 ▼$0 ▲
Water Transmission Group
Water Transmission Group
 $0 ▲$40.00M ▲$0 ▼$0 ▲
Tubular Goods
Tubular Goods
 $30.00M ▲$0 ▼$0 ▲$0 ▲
Water Transmission
Water Transmission
 $60.00M ▲$0 ▼$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has trended upward over the past five years, with 2024 being the strongest year in this period. Profitability has improved as well: gross profit, operating income, and net income all show a clear step up versus earlier years. Margins look healthier than they were before the pandemic, suggesting better pricing power, operating discipline, or a richer product mix from higher‑value solutions. Earnings per share have grown meaningfully, though they still reflect a cyclical, project‑driven business where results can swing with the timing of large contracts and infrastructure spending. Overall, the income statement points to a business that has scaled and become more efficient while remaining exposed to construction and public‑funding cycles.

Balance Sheet

Balance Sheet The balance sheet looks generally solid and has strengthened over time. Total assets have grown and are now comfortably above pre‑pandemic levels, reflecting expansion in plants, equipment, and acquired businesses. Shareholders’ equity has steadily increased, which signals cumulative profitability and retained earnings. Debt has risen compared with several years ago but appears manageable relative to the asset base and equity, suggesting a reasonable use of leverage to fund growth and acquisitions. Cash on hand is modest, implying reliance on credit facilities and ongoing cash generation, which is typical for an industrial manufacturer but does reduce flexibility in a sudden downturn.

Cash Flow

Cash Flow Operating cash flow has been positive in most years and clearly stronger in the last two, indicating that reported earnings are backed by real cash generation. Free cash flow has also improved and has been positive recently after some weaker years when working capital and investment needs weighed on cash. Capital spending has been steady but not excessive, consistent with a company investing to modernize and expand capacity without overbuilding. Overall, NWPX appears able to fund its growth and innovation largely from internal cash flow, though performance is still tied to project timing and working‑capital swings common in infrastructure businesses.

Competitive Edge

Competitive Edge NWPX holds a leading position in North American water infrastructure, especially in engineered steel water transmission pipe, which gives it scale advantages and strong brand recognition. Its portfolio now spans steel pipe, advanced precast concrete products, and integrated water management systems, reducing dependence on any single product line. Patented technologies like Permalok and InfraShield, along with specialized concrete and “plug‑and‑play” water systems, help differentiate it from commodity producers and smaller regional players. A nationwide manufacturing footprint and in‑house engineering support deepen customer relationships and raise barriers to entry. Key risks include exposure to construction cycles, public infrastructure budgets, competition from alternative materials, and the challenge of integrating acquisitions and cross‑selling effectively across brands.

Innovation and R&D

Innovation and R&D Innovation is a clear focus and a core part of NWPX’s moat, even though formal R&D spending amounts are not shown. The company has developed specialized trenchless products, geohazard‑resistant joints, and advanced automated concrete manufacturing processes that improve reliability, speed of installation, and total project cost for customers. Its integrated water management systems add value through pre‑engineering, automation, and certification, making projects easier to design, permit, and maintain. Future innovation is likely to center on more resilient, automated, and sustainable water solutions, and on digital integration with monitoring and control systems. The main uncertainty is how consistently the company can keep its product pipeline ahead of competitors and regulatory changes, especially around climate resilience, water quality, and reuse.

Summary

Financially, NWPX shows a pattern of improving revenue, stronger margins, and healthier cash generation versus earlier years, supported by a gradually stronger equity base and manageable leverage. Strategically, it has evolved from a specialized pipe maker into a diversified water infrastructure platform with meaningful technological differentiation and a broad geographic footprint. Its strengths lie in scale leadership, patented products, integrated solutions, and exposure to long‑term needs for water infrastructure renewal. Key risks remain: sensitivity to infrastructure cycles and government funding, relatively low cash balances, the capital‑intensive nature of manufacturing, and execution risk around acquisitions and cross‑selling. Overall, the picture is of a growing, more efficient industrial business with a solid competitive position in a critical, long‑duration market, but still subject to the usual cyclicality and project risk of large infrastructure suppliers.

NEWS

November 25, 2025 · 4:15 PM UTC

NWPX Infrastructure Achieves UL 508A Certification for several NWPX Park Products

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October 29, 2025 · 4:15 PM UTC

NWPX Infrastructure, Inc. Announces Third Quarter 2025 Financial Results

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October 15, 2025 · 4:15 PM UTC

NWPX Infrastructure Publishes Verified Environmental Product Declaration for Water Transmission System Pipe

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October 15, 2025 · 4:05 PM UTC

NWPX Infrastructure, Inc. to Release Third Quarter 2025 Financial Results on October 29th

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