NWPX Infrastructure (NWPX) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

NWPX Infrastructure

NasdaqGS•Basic Materials•Steel

$98.00-1.67(-0.02%)Pre-market

Market Cap

$955.21M

P/E

17.9x

P/S

1.6x

P/B

2.2x

NWPX Infrastructure, Inc., together with its subsidiaries, manufactures and sells water-related infrastructure products in the United States and Canada. It operates through two segments, Water Transmission Systems (WTS); and Precast Infrastructure and Engineered Systems (Precast). The WTS segment manufactures large-diameter, 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. Its products are also used for hydroelectric power systems, wastewater systems, seismic resiliency, and other applications. The Precast segment offers 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, and other environmental and engineered solutions. It provides its products under the NWPX Geneva and NWPX Park brand names; and manufactures engineered water transmission systems and produces steel casing pipe, bar-wrapped concrete cylinder pipe, and pipeline system joints and fittings under the Northwest Pipe Company brand. In addition, the company provides solution-based products for various markets, including reinforced precast concrete products, lined precast sanitary sewer system structures, water distribution and management equipment including pump lift stations, wastewater pretreatment, and stormwater quality products. Further, it sells water infrastructure products to installation contractors. The company was formerly known as Northwest Pipe Company and changed its name to NWPX Infrastructure, Inc. in June 2025. NWPX Infrastructure, Inc. was incorporated in 1966 and is headquartered in Vancouver, Washington.

How this company scores

ExcellentMetricSide Score: 95/100

Strongest: Growth (25/25); weakest: Profitability (21/25).

Profitability21/25

Growth25/25

Balance Sheet & Red Flags24/25

Cash & Earnings Quality25/25

Strengths

Growing revenueRising free cash flowRising earningsLow leverage

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 17.9x5y range 12.1x – 40.5x

Currently near its 20-quarter median.

P/S · 1.6x5y range 0.8x – 2.5x

Currently above its 20-quarter median.

P/B · 2.2x5y range 1.1x – 3.4x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

Some Concerns

Earnings Quality

Watch

FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.

Price & Volume

Market Cap $955.21M

Metrics at a Glance

as of September 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $602.76M
Q. Revenue: $179.39M
TTM EBITDA: $92.77M
TTM Op. Income: $71.15M
Q. Op. Income: $24.31M
TTM Net Income: $53.48M
Q. Net Income: $18.23M
EPS: $1.89
Shares Out.: $9.63M

$602.76M in TTM revenue grew 15.9% YoY, reaching $179.39M last quarter. TTM EBITDA of $92.77M and TTM operating income of $71.15M show growth is flowing through to the bottom line. TTM net income of $53.48M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 21.3%
EBITDA Margin: 17.1%
Op. Margin: 13.6%
Net Margin: 10.2%

Op. margin of 13.6% is up 1.0% YoY — cost efficiency is improving. Net margin at 10.2% and gross margin of 21.3% show how much of each revenue dollar survives to profit. Across the last 8 quarters, operating margin has risen for 2 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 17.9x
P/S Ratio: 1.6x
P/B Ratio: 2.2x

At 17.9x P/E, the stock trades within typical market levels. P/S of 1.6x and P/B of 2.2x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is up 30% — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $694.58M
Cash: $6.06M
Long-Term Debt: $6.24M
Book Value: $437.28M
D/E Ratio: 0.0
Debt/EBITDA: 0.2

With $694.58M in assets and $6.24M in long-term debt, D/E is 0.0and book value is $437.28M — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has fallen for 7 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $27.38M
TTM Free Cash Flow: $86.83M
FCF Margin: 14.4%
FCF / Net Income: 1.6

TTM FCF of $86.83M on $27.38M in operating cash flow. The FCF / Net Income ratio of 1.6x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has risen for 3 consecutive quarters — an improving trend.