NWPX Stock Analysis: Northwest Pipe | NASDAQ
Steel | NASDAQ, USA | Market Cap: 1.320m USD | 12M Return: 239.8% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 27.2M
EPS Trend: 84.7%
Qual. Beats: 4
Rev. Trend: 98.4%
Qual. Beats: 1
Warnings
No concerns identified
Tailwinds
Seasonality 10.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
NWPX Infrastructure, Inc. (NASDAQ: NWPX) is a U.S.-based manufacturer of water-related infrastructure products operating in the United States and Canada. Headquartered in Vancouver, Washington, the company was incorporated in 1966 and rebranded from Northwest Pipe Company to NWPX Infrastructure, Inc. in June 2025. It is classified within the Industrials sector (Construction & Engineering sub-industry) and is classified as a small-cap stock.
The business is organized into two segments. The Water Transmission Systems (WTS) segment produces large-diameter, high-pressure steel pipeline systems primarily for drinking water infrastructure, with additional applications in hydroelectric power, wastewater, and seismic resiliency. The Precast Infrastructure and Engineered Systems (Precast) segment manufactures stormwater and wastewater technology products, including reinforced concrete pipe, manholes, box culverts, vaults, catch basins, pump lift stations, and biofiltration units. The company sells these products under the NWPX Geneva, NWPX Park, and Northwest Pipe Company brand names.
NWPX operates a business-to-business model, supplying engineered water transmission systems and precast concrete products primarily to installation contractors serving municipal and utility customers. Demand for its products is driven by U.S. and Canadian municipal water infrastructure spending, which has been supported in recent years by federal initiatives such as the Bipartisan Infrastructure Law funding for water and wastewater system upgrades.
- Federal water infrastructure spending lifts transmission pipe backlog
- Steel raw material costs pressure Water Transmission Systems margins
- Precast Infrastructure segment grows on stormwater and wastewater project demand
| Net Income: 42.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.11 > 0.02 and ΔFCF/TA -0.04 > 1.0 |
| NWC/Revenue: 34.23% < 20% (prev 39.00%; Δ -4.77% < -1%) |
| CFO/TA 0.14 > 3% & CFO 91.7m > Net Income 42.0m |
| Net Debt (179.9m) to EBITDA (76.2m): 2.36 < 3 |
| Current Ratio: 2.68 > 1.5 & < 3 |
| Outstanding Shares: last quarter (9.79m) vs 12m ago -3.23% < -2% |
| Gross Margin: 20.24% > 18% (prev 19.10%; Δ 1.14% > 0.5%) |
| Asset Turnover: 90.13% > 50% (prev 85.09%; Δ 5.03% > 0%) |
| Interest Coverage Ratio: 24.29 > 6 (EBIT TTM 56.4m / Interest Expense TTM 2.32m) |
| A: 0.30 (Total Current Assets 299.2m - Total Current Liabilities 111.5m) / Total Assets 634.1m |
| B: 0.46 (Retained Earnings 292.3m / Total Assets 634.1m) |
| C: 0.09 (EBIT TTM 56.4m / Avg Total Assets 608.2m) |
| D: 1.75 (Book Value of Equity 403.7m / Total Liabilities 230.4m) |
| Altman-Z'' = 5.91 = AAA |
| DSRI: 1.15 (Receivables 209.9m/165.1m, Revenue 548.1m/495.4m) |
| GMI: 0.94 (GM 19.10% / 20.24%) |
| AQI: 0.88 (AQ_t 0.13 / AQ_t-1 0.15) |
| SGI: 1.11 (Revenue 548.1m / 495.4m) |
| TATA: -0.08 (NI 42.0m - CFO 91.7m) / TA 634.1m) |
| Beneish M = -2.96 (Cap -4..+1) = A |
As of July 07, 2026, the stock is trading at USD 143.18 with a total of 157,545 shares traded. Over the past week, the price has changed by -3.26%, over one month by +18.17%, over three months by +82.56% and over the past year by +239.77%.
Current recommended Stop Loss: 135.30 (which is 5.5% or 1.2 ATR below the current price).
Northwest Pipe has received a consensus analysts rating of 4.00. Therefore, it is recommended to buy NWPX.
- StrongBuy: 1
- Buy: 0
- Hold: 1
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 109.3 | -23.6% |
P/E Trailing = 32.2165
P/E Forward = 31.6456
P/S = 2.4072
P/B = 3.4501
P/EG = 2.8752
Revenue TTM = 548.1m USD
EBIT TTM = 56.4m USD
EBITDA TTM = 76.2m USD
Long Term Debt = 7.73m USD (from longTermDebt, last quarter)
Short Term Debt = 8.15m USD (from shortTermDebt, last quarter)
Debt = 194.1m USD (from shortLongTermDebtTotal, last quarter) + Leases 91.7m
Net Debt = 179.9m USD (calculated: Debt 194.1m - CCE 14.3m)
Enterprise Value = 1.50b USD (1.32b + Debt 194.1m - CCE 14.3m)
Interest Coverage Ratio = 24.29 (Ebit TTM 56.4m / Interest Expense TTM 2.32m)
EV/FCF = 20.90x (Enterprise Value 1.50b / FCF TTM 71.7m)
FCF Yield = 4.78% (FCF TTM 71.7m / Enterprise Value 1.50b)
FCF Margin = 13.08% (FCF TTM 71.7m / Revenue TTM 548.1m)
Net Margin = 7.66% (Net Income TTM 42.0m / Revenue TTM 548.1m)
Gross Margin = 20.24% ((Revenue TTM 548.1m - Cost of Revenue TTM 437.2m) / Revenue TTM)
Gross Margin QoQ = 19.29% (prev 21.30%)
Tobins Q-Ratio = 2.36 (Enterprise Value 1.50b / Total Assets 634.1m)
Interest Expense / Debt = 1.20% (Interest Expense 2.32m / Debt 194.1m)
Taxrate = 22.37% (12.1m / 54.1m)
NOPAT = 43.8m (EBIT 56.4m * (1 - 22.37%))
Current Ratio = 2.68 (Total Current Assets 299.2m / Total Current Liabilities 111.5m)
Debt / Equity = 0.48 (Debt 194.1m / totalStockholderEquity, last quarter 403.7m)
Debt / EBITDA = 2.36 (Net Debt 179.9m / EBITDA 76.2m)
Debt / FCF = 2.51 (Net Debt 179.9m / FCF TTM 71.7m)
Total Stockholder Equity = 391.1m (last 4 quarters mean from totalStockholderEquity)
RoA = 6.90% (Net Income 42.0m / Total Assets 634.1m)
RoE = 10.73% (Net Income TTM 42.0m / Total Stockholder Equity 391.1m)
RoCE = 14.14% (EBIT 56.4m / Capital Employed (Equity 391.1m + L.T.Debt 7.73m))
RoIC = 8.48% (NOPAT 43.8m / Invested Capital 516.5m)
WACC = 9.12% (E(1.32b)/V(1.51b) * Re(10.33%) + D(194.1m)/V(1.51b) * Rd(1.20%) * (1-Tc(0.22)))
Discount Rate = 10.33% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -51.11 | Cagr: -1.40%
[DCF] Terminal Value 73.90% ; FCFF base≈69.5m ; Y1≈74.7m ; Y5≈90.7m
[DCF] Fair Price = 108.6 (EV 1.23b - Net Debt 179.9m = Equity 1.05b / Shares 9.64m; r=9.12% [WACC]; 5y FCF grow 8.53% → 2.50% )
EPS Correlation: 84.70 | EPS CAGR: 20.95% | SUE: 3.22 | # QB: 4
Revenue Correlation: 98.43 | Revenue CAGR: 8.09% | SUE: 1.96 | # QB: 1
EPS current Quarter (2026-06-30): EPS=1.31 | Chg30d=-1.39% | Revisions=+25% | Analysts=2
EPS next Quarter (2026-09-30): EPS=1.55 | Chg30d=+0.58% | Revisions=+25% | Analysts=2
EPS current Year (2026-12-31): EPS=4.83 | Chg30d=+2.36% | Revisions=+25% | GrowthEPS=+34.6% | GrowthRev=+13.6%
EPS next Year (2027-12-31): EPS=5.07 | Chg30d=+4.06% | Revisions=+40% | GrowthEPS=+5.0% | GrowthRev=+0.3%
[Analyst] Revisions Ratio: +62% (up=5, down=0)