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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
$765.70M
P/E (TTM)
21.6
20.3
Dividend Yield
--
52W High
$83.12
52W Low
$36.97
52W Range
93%
Rank40Top 42.0%
4.1
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Average • 4.1 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025

Financial Dashboard

Q4 2025 Data

Revenue

$125.64M+0.00%
4-Quarter Trend

EPS

$0.92+0.00%
4-Quarter Trend

FCF

$30.82M+0.00%
4-Quarter Trend

2025 Annual Earnings Highlights

Key Highlights

Net Sales Increased 6.8% Total net sales reached $526.0M in 2025, driven by 13.3% Precast growth and higher WTS pricing.
Gross Profit Margin Expansion Total gross profit grew 8.6% to $103.6M; WTS margin improved to 19.1% due to increased selling prices.
Stronger Net Income Performance Net income was $35.4M in 2025, resulting in basic EPS of $3.62, up from $3.45 previously.
Increased Share Repurchase Activity Stock repurchases totaled $18.4M in 2025, significantly higher than $4.4M spent in the prior year.

Risk Factors

WTS Market Overcapacity Risk WTS segment faces overcapacity and increased competition from substitute products like PVC and ductile iron pipe.
Steel Price Volatility Impact Steel costs, 29% of WTS sales, fluctuated significantly; 2025 average cost was $967 per ton.
Government Spending Uncertainty Downturn in government spending or funding delays from IIJA could adversely affect WTS project demand.
Cybersecurity Threat Exposure Information technology systems face external threats including ransomware, requiring continuous risk assessment and monitoring.

Outlook

Near Term Demand Outlook Near and medium term WTS demand expected to remain healthy, benefiting from available IIJA funding later.
Precast Market Stability Precast demand remains steady, supported by housing starts in Texas and Utah, where facilities are located.
2026 Capital Expenditure Forecast Expect capital expenditures for 2026 to be approximately $20M to $24M, primarily for standard replacement.
Strategic Acquisition Integration Successfully integrating the recently acquired Boughton facility is key to realizing anticipated synergies and expansion.

Peer Comparison

Revenue (TTM)

RYI stock ticker logoRYI
$4.57B
-0.6%
HY stock ticker logoHY
$3.77B
-12.5%
CODI stock ticker logoCODI
$1.87B
-4.8%

Gross Margin (Latest Quarter)

CASS stock ticker logoCASS
100.0%
+14.9pp
SNCY stock ticker logoSNCY
65.4%
+44.9pp
CYRX stock ticker logoCYRX
47.8%
+3.4pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
SNCY$896.81M16.98.6%35.2%
HTLD$824.12M-15.7-6.7%13.5%
NX$802.08M-3.3-30.2%45.1%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
2.7%
Moderate Growth
4Q Net Income CAGR
30.8%
Profitability Improved
Cash Flow Stability
100%
Strong Cash Flow

Deep Research

Next earnings:Apr 28, 2026
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