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Northwest Pipe Company

Northwest Pipe Company

NASDAQ•NWPX
CEO: Mr. Scott J. Montross
Sector: Industrials
Industry: Manufacturing - Metal Fabrication
Listing Date: 1995-11-30
Northwest Pipe Company, together with its subsidiaries, engages in the manufacture and supply of water-related infrastructure products in North America. It operates in two segments, Engineered Steel Pressure Pipe (SPP) and Precast Infrastructure and Engineered Systems (Precast). The SPP segment offers large-diameter and high-pressure steel pipeline systems for use in water infrastructure applications, which are primarily related to drinking water systems. Its products are also used for hydroelectric power systems, wastewater systems, seismic resiliency, and other applications. In addition, this segment makes products for industrial plant piping systems and certain structural applications. The Precast segment provides stormwater and wastewater technology products, precast, and reinforced concrete products, including reinforced concrete pipe, manholes, box culverts, vaults and catch basins, pump lift stations, oil water separators, biofiltration units, steel casing pipes, and bar-wrapped concrete cylinder pipes, as well as pipeline system joints, fittings, specialized components, and other environmental and engineered solutions. The company sells its water infrastructure products under ParkUSA, Geneva Pipe and Precast, Permalok, and Northwest Pipe Company brands primarily to installation contractors. Northwest Pipe Company was incorporated in 1966 and is headquartered in Vancouver, Washington.
Contact Information
201 NE Park Plaza Drive, Suite 100, Vancouver, WA, 98684, United States
360-397-6250
www.nwpipe.com
Market Cap
$613.86M
P/E (TTM)
17.1
4.6
Dividend Yield
--
52W High
$63.98
52W Low
$36.97
52W Range
100%
3.9
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 3.9 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q3 2025 Data

Revenue

$151.07M+16.03%
4-Quarter Trend

EPS

$1.38+33.98%
4-Quarter Trend

FCF

$13.18M-21.40%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Quarterly Sales Strong Growth Total net sales reached $151.07M USD in Q3 2025, marking a 16.0% increase over prior year period.
Net Income Substantial Increase Q3 2025 net income was $13.51M USD, showing robust growth of 31.8% compared to Q3 2024 results.
Operating Cash Flow Surges Nine months operating cash flow provided $31.25M USD, significantly up 65.0% versus the prior nine months period.
Working Capital Position Strengthens Working capital improved to $198.5M USD as of September 30, 2025, up from $187.4M USD at year-end 2024.

Risk Factors

Superfund Liability Unknown Portland Harbor Superfund Site cleanup cost allocation remains uncertain; no liability recorded due to estimation difficulty.
Fixed Price Steel Exposure WTS fixed-price contracts expose margins to volatile steel market fluctuations; average steel cost was $953 per ton YTD.
Economic Policy Uncertainty Trade policies, tariffs, and economic uncertainty pose risks to construction activity and short-term cost mitigation efforts.
Pension Settlement Charge Expected Expect noncash pension settlement charge between $1.5M and $2.0M USD in Q4 2025 following plan termination approval.

Outlook

Share Repurchase Availability $9.1M USD of authorized share repurchase capacity remained available under the $30M program as of September 30, 2025.
Segment Naming Convention Update Segment previously named SPP is now Water Transmission Systems (WTS) to better reflect business capabilities and value.
Capital Expenditure Forecast Expect 2025 capital expenditures between $19M and $22M USD, including investment in new pipe mill and catch basin machine.

Peer Comparison

Revenue (TTM)

Compass DiversifiedCODI
$2.20B
+4.2%
Universal Logistics Holdings, Inc.ULH
$1.67B
-5.6%
Kforce Inc.KFRC
$1.36B
-5.8%

Gross Margin (Latest Quarter)

Cass Information Systems, Inc.CASS
85.1%
-2.9 pp
Compass DiversifiedCODI
49.4%
+13.6 pp
Cryoport, Inc.CYRX
47.0%
+2.6 pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
NWPX$613.86M17.19.7%21.8%
CASS$518.73M16.313.3%0.0%
ASC$507.40M10.87.3%4.1%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
+8.1%
Steady Growth
4Q Net Income CAGR
+10.2%
Profitability Improving
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Reports
All Years
  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Oct 30, 2025|
    Revenue: $151.07M+16.0%
    |
    EPS: $1.38+34.0%
    Beat
  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 8, 2025|
    Revenue: $133.18M+2.8%
    |
    EPS: $0.92+5.7%
    Beat
  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 1, 2025|
    Revenue: $116.12M+2.6%
    |
    EPS: $0.40-24.5%
    Miss
  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 27, 2025|
    Revenue: $492.55M+10.8%
    |
    EPS: $3.45+63.5%
    Beat
  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Oct 31, 2024|
    Revenue: $130.20M+9.7%
    |
    EPS: $1.03+77.6%
    Beat
  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 1, 2024|
    Revenue: $129.50M+11.3%
    |
    EPS: $0.87+17.6%
    Beat
  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 2, 2024|
    Revenue: $113.12M+14.1%
    |
    EPS: $0.53+120.8%
    Beat
  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Mar 5, 2024|
    Revenue: $444.36M-2.9%
    |
    EPS: $2.11-32.8%
    Beat