Northwest Pipe (NWPX) Financials

$42.12 +0.49 (+1.18%)

As of 04/14/2025 04:00 PM Eastern

Annual Income Statements for Northwest Pipe

This table shows Northwest Pipe's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	31	21	34
Consolidated Net Income / (Loss)	31	21	34
Net Income / (Loss) Continuing Operations	31	21	34
Total Pre-Tax Income	41	29	42
Total Operating Income	45	34	48
Total Gross Profit	86	78	95
Total Revenue	458	444	493
Operating Revenue	458	444	493
Total Cost of Revenue	372	367	397
Operating Cost of Revenue	372	367	397
Total Operating Expenses	41	44	47
Selling, General & Admin Expense	41	44	47
Total Other Income / (Expense), net	-3.47	-4.58	-5.87
Interest Expense	3.57	4.86	5.66
Other Income / (Expense), net	0.10	0.28	-0.21
Income Tax Expense	10	8.21	8.17
Basic Earnings per Share	$3.14	$2.11	$3.45
Weighted Average Basic Shares Outstanding	9.91M	9.99M	9.92M
Diluted Earnings per Share	$3.11	$2.09	$3.40
Weighted Average Diluted Shares Outstanding	10.01M	10.08M	10.07M
Weighted Average Basic & Diluted Shares Outstanding	9.94M	9.89M	9.94M

This table shows Northwest Pipe's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	9.96	7.96	2.36	7.45	5.82	5.44	5.24	8.62	10	10
Consolidated Net Income / (Loss)	9.96	7.96	2.36	7.45	5.82	5.44	5.24	8.62	10	10
Net Income / (Loss) Continuing Operations	9.96	7.96	2.36	7.45	5.82	5.44	5.24	8.62	10	10
Total Pre-Tax Income	14	9.85	3.31	10	7.83	7.99	7.22	12	14	9.66
Total Operating Income	14	11	4.71	11	9.06	8.63	8.69	14	15	10
Total Gross Profit	25	22	17	22	19	19	20	26	27	22
Total Revenue	123	107	99	116	119	110	113	130	130	120
Operating Revenue	123	107	99	116	119	110	113	130	130	120
Total Cost of Revenue	98	85	83	94	99	91	93	104	103	97
Operating Cost of Revenue	98	85	83	94	99	91	93	104	103	97
Total Operating Expenses	11	11	12	11	10	11	11	12	12	12
Selling, General & Admin Expense	11	11	12	11	10	11	11	12	12	12
Total Other Income / (Expense), net	-0.95	-1.13	-1.40	-1.33	-1.22	-0.63	-1.47	-2.05	-1.52	-0.84
Interest Expense	0.96	1.18	1.37	1.19	1.16	1.13	1.47	1.82	1.45	0.91
Other Income / (Expense), net	0.01	0.04	-0.03	-0.13	-0.06	0.50	0.01	-0.23	-0.07	0.07
Income Tax Expense	3.56	1.89	0.95	2.69	2.02	2.55	1.99	2.95	3.67	-0.44
Basic Earnings per Share	$1.00	$0.80	$0.24	$0.74	$0.58	$0.55	$0.53	$0.87	$1.03	$1.02
Weighted Average Basic Shares Outstanding	9.93M	9.91M	9.94M	10M	10.01M	9.99M	9.92M	9.91M	9.92M	9.92M
Diluted Earnings per Share	$0.99	$0.79	$0.23	$0.74	$0.58	$0.54	$0.52	$0.86	$1.02	$1.00
Weighted Average Diluted Shares Outstanding	10.01M	10.01M	10.09M	10.07M	10.11M	10.08M	10.05M	10.00M	10.06M	10.07M
Weighted Average Basic & Diluted Shares Outstanding	9.93M	9.94M	10.00M	10.01M	10.01M	9.89M	9.92M	9.92M	9.92M	9.94M

This table details how cash moves in and out of Northwest Pipe's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Net Change in Cash & Equivalents	0.68	0.39	0.94
Net Cash From Operating Activities	18	53	55
Net Cash From Continuing Operating Activities	18	53	55
Net Income / (Loss) Continuing Operations	31	21	34
Consolidated Net Income / (Loss)	31	21	34
Depreciation Expense	13	12	15
Amortization Expense	4.44	4.19	4.03
Non-Cash Adjustments To Reconcile Net Income	3.64	10	13
Changes in Operating Assets and Liabilities, net	-34	6.57	-11
Net Cash From Investing Activities	-23	-20	-21
Net Cash From Continuing Investing Activities	-23	-20	-21
Purchase of Property, Plant & Equipment	-23	-18	-21
Acquisitions	-0.33	-2.73	0.00
Other Investing Activities, net	0.11	0.65	0.06
Net Cash From Financing Activities	6.19	-33	-33
Net Cash From Continuing Financing Activities	6.19	-33	-33
Repayment of Debt	-181	-185	-202
Repurchase of Common Equity	0.00	-0.71	-4.43
Issuance of Debt	188	155	176
Other Financing Activities, net	-1.45	-2.48	-2.87
Cash Interest Paid	3.17	4.66	5.88
Cash Income Taxes Paid	14	5.91	9.02

This table details how cash moves in and out of Northwest Pipe's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	0.16	-0.03	0.25	0.22	-0.09	0.01	0.19	0.27	1.20	-0.72
Net Cash From Operating Activities	15	-7.98	26	1.20	17	9.05	-26	22	23	36
Net Cash From Continuing Operating Activities	15	-7.98	26	1.20	17	9.05	-26	22	23	36
Net Income / (Loss) Continuing Operations	9.96	7.96	2.36	7.45	5.82	5.44	5.24	8.62	10	10
Consolidated Net Income / (Loss)	9.96	7.96	2.36	7.45	5.82	5.44	5.24	8.62	10	10
Depreciation Expense	3.26	3.34	2.80	2.84	3.00	2.97	3.41	3.70	4.15	3.78
Amortization Expense	1.07	1.07	1.06	1.04	1.04	1.04	1.01	1.01	1.01	1.01
Non-Cash Adjustments To Reconcile Net Income	17	-2.06	15	-2.66	7.93	-11	-17	17	12	1.27
Changes in Operating Assets and Liabilities, net	-16	-18	4.82	-7.48	-0.86	10	-19	-7.65	-4.30	20
Net Cash From Investing Activities	-3.65	-11	-4.38	-6.75	-4.78	-4.46	-4.52	-6.05	-5.97	-4.19
Net Cash From Continuing Investing Activities	-3.65	-11	-4.38	-6.75	-4.78	-4.46	-4.52	-6.05	-5.97	-4.19
Purchase of Property, Plant & Equipment	-3.34	-11	-4.38	-4.03	-4.83	-5.05	-4.57	-6.06	-5.98	-4.19
Other Investing Activities, net	-0.32	0.39	0.00	0.01	0.05	0.59	0.05	0.01	0.00	0.00
Net Cash From Financing Activities	-12	19	-22	5.78	-12	-4.58	31	-16	-16	-33
Net Cash From Continuing Financing Activities	-12	19	-22	5.78	-12	-4.58	31	-16	-16	-33
Repayment of Debt	-55	-45	-56	-31	-52	-46	-29	-55	-53	-65
Issuance of Debt	44	64	35	38	40	42	65	41	38	33
Other Financing Activities, net	-0.14	-0.19	-0.57	-1.40	-0.24	-0.28	-0.70	-1.46	-0.36	-0.35

This table presents Northwest Pipe's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Total Assets	601	598	590
Total Current Assets	279	272	262
Cash & Equivalents	3.68	4.07	5.01
Accounts Receivable	72	48	67
Inventories, net	71	91	80
Prepaid Expenses	11	9.03	7.34
Other Current Assets	122	121	103
Plant, Property, & Equipment, net	133	144	150
Total Noncurrent Assets	189	181	177
Goodwill	56	56	56
Intangible Assets	35	31	27
Other Noncurrent Operating Assets	99	95	94
Total Liabilities & Shareholders' Equity	601	598	590
Total Liabilities	283	258	216
Total Current Liabilities	91	96	75
Short-Term Debt	11	11	2.99
Accounts Payable	27	31	28
Accrued Expenses	31	28	28
Current Deferred Revenue	-	21	11
Other Current Liabilities	22	4.93	4.99
Total Noncurrent Liabilities	192	161	141
Long-Term Debt	84	54	36
Noncurrent Deferred & Payable Income Tax Liabilities	11	11	8.30
Other Noncurrent Operating Liabilities	7.66	96	96
Commitments & Contingencies	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	318	340	374
Total Preferred & Common Equity	318	340	374
Preferred Stock	0.00	0.00	0.00
Total Common Equity	318	340	374
Common Stock	128	129	129
Retained Earnings	191	212	246
Accumulated Other Comprehensive Income / (Loss)	-0.79	-0.96	-0.83

This table presents Northwest Pipe's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Total Assets	586	582	603	589	621	632	617
Total Current Assets	271	261	279	266	297	308	294
Cash & Equivalents	3.71	3.93	4.15	4.06	4.26	4.53	5.72
Accounts Receivable	74	61	63	67	52	71	80
Inventories, net	72	71	85	83	96	88	85
Prepaid Expenses	4.33	9.01	4.92	6.64	7.84	5.27	2.53
Other Current Assets	117	116	122	105	136	139	121
Plant, Property, & Equipment, net	124	134	138	140	145	147	149
Total Noncurrent Assets	191	187	186	183	179	176	174
Goodwill	56	56	56	56	56	56	56
Intangible Assets	36	34	33	32	30	29	28
Other Noncurrent Operating Assets	100	97	97	95	94	92	91
Total Liabilities & Shareholders' Equity	586	582	603	589	621	632	617
Total Liabilities	278	261	274	254	279	281	255
Total Current Liabilities	97	90	95	88	83	101	92
Short-Term Debt	3.53	11	11	11	11	11	11
Accounts Payable	40	25	27	31	26	25	20
Accrued Expenses	33	24	26	24	22	23	27
Current Deferred Revenue	-	-	-	17	19	37	29
Other Current Liabilities	21	30	32	4.90	5.07	5.11	5.18
Total Noncurrent Liabilities	180	171	179	166	195	180	163
Long-Term Debt	72	63	70	58	90	76	61
Noncurrent Deferred & Payable Income Tax Liabilities	11	12	12	12	11	11	11
Other Noncurrent Operating Liabilities	98	96	97	96	95	93	91
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	309	321	329	335	343	351	362
Total Preferred & Common Equity	309	321	329	335	343	351	362
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	309	321	329	335	343	351	362
Common Stock	127	129	129	129	126	126	127
Retained Earnings	183	193	201	207	217	226	236
Accumulated Other Comprehensive Income / (Loss)	-1.20	-0.92	-0.92	-0.95	-0.91	-0.92	-1.16

This table displays calculated financial ratios and metrics derived from Northwest Pipe's official financial filings.

Metric	2022	2023	2024
Growth Metrics	-	-	-
Revenue Growth	37.31%	-2.91%	10.85%
EBITDA Growth	106.85%	-19.48%	34.37%
EBIT Growth	174.56%	-24.01%	40.71%
NOPAT Growth	177.04%	-27.83%	59.83%
Net Income Growth	170.32%	-32.35%	62.33%
EPS Growth	168.10%	-32.80%	62.68%
Operating Cash Flow Growth	401.84%	204.76%	2.99%
Free Cash Flow Firm Growth	97.79%	3,226.57%	-73.35%
Invested Capital Growth	8.17%	-19.45%	1.65%
Revenue Q/Q Growth	0.94%	0.76%	1.96%
EBITDA Q/Q Growth	14.74%	-4.40%	3.43%
EBIT Q/Q Growth	21.26%	-5.28%	3.10%
NOPAT Q/Q Growth	22.62%	-11.19%	15.67%
Net Income Q/Q Growth	22.35%	-10.67%	15.74%
EPS Q/Q Growth	21.96%	-10.68%	15.65%
Operating Cash Flow Q/Q Growth	-47.38%	46.73%	96.79%
Free Cash Flow Firm Q/Q Growth	94.72%	1,448.19%	489.54%
Invested Capital Q/Q Growth	31.08%	0.41%	-4.66%
Profitability Metrics	-	-	-
Gross Margin	18.76%	17.47%	19.37%
EBITDA Margin	13.55%	11.24%	13.62%
Operating Margin	9.79%	7.62%	9.79%
EBIT Margin	9.81%	7.68%	9.75%
Profit (Net Income) Margin	6.81%	4.74%	6.94%
Tax Burden Percent	75.33%	71.97%	80.73%
Interest Burden Percent	92.06%	85.78%	88.22%
Effective Tax Rate	24.67%	28.03%	19.27%
Return on Invested Capital (ROIC)	7.04%	5.41%	9.62%
ROIC Less NNEP Spread (ROIC-NNEP)	5.58%	2.68%	-0.33%
Return on Net Nonoperating Assets (RNNOA)	3.32%	0.98%	-0.04%
Return on Equity (ROE)	10.35%	6.40%	9.58%
Cash Return on Invested Capital (CROIC)	-0.81%	26.97%	7.99%
Operating Return on Assets (OROA)	7.82%	5.69%	8.09%
Return on Assets (ROA)	5.42%	3.51%	5.76%
Return on Common Equity (ROCE)	10.35%	6.40%	9.58%
Return on Equity Simple (ROE_SIMPLE)	9.79%	6.19%	9.15%
Net Operating Profit after Tax (NOPAT)	34	24	39
NOPAT Margin	7.38%	5.48%	7.91%
Net Nonoperating Expense Percent (NNEP)	1.46%	2.73%	9.95%
Return On Investment Capital (ROIC_SIMPLE)	6.72%	6.01%	9.43%
Cost of Revenue to Revenue	81.24%	82.53%	80.63%
SG&A Expenses to Revenue	8.97%	9.85%	9.57%
R&D to Revenue	0.00%	0.00%	0.00%
Operating Expenses to Revenue	8.97%	9.85%	9.57%
Earnings before Interest and Taxes (EBIT)	45	34	48
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	62	50	67
Valuation Ratios	-	-	-
Price to Book Value (P/BV)	1.05	0.89	1.28
Price to Tangible Book Value (P/TBV)	1.47	1.19	1.64
Price to Revenue (P/Rev)	0.73	0.68	0.97
Price to Earnings (P/E)	10.74	14.38	13.99
Dividend Yield	0.00%	0.00%	0.00%
Earnings Yield	9.31%	6.95%	7.15%
Enterprise Value to Invested Capital (EV/IC)	1.03	0.91	1.26
Enterprise Value to Revenue (EV/Rev)	1.12	0.82	1.04
Enterprise Value to EBITDA (EV/EBITDA)	8.30	7.29	7.64
Enterprise Value to EBIT (EV/EBIT)	11.46	10.67	10.68
Enterprise Value to NOPAT (EV/NOPAT)	15.25	14.95	13.17
Enterprise Value to Operating Cash Flow (EV/OCF)	29.35	6.81	9.32
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	3.00	15.86
Leverage & Solvency	-	-	-
Debt to Equity	0.58	0.19	0.10
Long-Term Debt to Equity	0.54	0.16	0.10
Financial Leverage	0.59	0.37	0.13
Leverage Ratio	1.91	1.82	1.66
Compound Leverage Factor	1.76	1.56	1.47
Debt to Total Capital	36.62%	16.09%	9.48%
Short-Term Debt to Total Capital	2.14%	2.65%	0.72%
Long-Term Debt to Total Capital	34.48%	13.43%	8.75%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%
Common Equity to Total Capital	63.38%	83.92%	90.52%
Debt to EBITDA	2.97	1.31	0.58
Net Debt to EBITDA	2.91	1.22	0.51
Long-Term Debt to EBITDA	2.79	1.09	0.54
Debt to NOPAT	5.45	2.68	1.01
Net Debt to NOPAT	5.34	2.51	0.88
Long-Term Debt to NOPAT	5.13	2.24	0.93
Altman Z-Score	2.54	2.49	3.40
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-
Current Ratio	3.07	2.83	3.49
Quick Ratio	0.83	0.54	0.96
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	-3.88	121	32
Operating Cash Flow to CapEx	76.83%	292.25%	264.68%
Free Cash Flow to Firm to Interest Expense	-1.09	25.00	5.71
Operating Cash Flow to Interest Expense	4.92	11.01	9.73
Operating Cash Flow Less CapEx to Interest Expense	-1.48	7.24	6.05
Efficiency Ratios	-	-	-
Asset Turnover	0.80	0.74	0.83
Accounts Receivable Turnover	7.37	7.46	8.60
Inventory Turnover	5.69	4.52	4.65
Fixed Asset Turnover	3.60	3.21	3.35
Accounts Payable Turnover	12.55	12.62	13.48
Days Sales Outstanding (DSO)	49.54	48.96	42.46
Days Inventory Outstanding (DIO)	64.14	80.75	78.58
Days Payable Outstanding (DPO)	29.08	28.92	27.08
Cash Conversion Cycle (CCC)	84.61	100.79	93.96
Capital & Investment Metrics	-	-	-
Invested Capital	499	402	408
Invested Capital Turnover	0.95	0.99	1.22
Increase / (Decrease) in Invested Capital	38	-97	6.61
Enterprise Value (EV)	515	364	513
Market Capitalization	335	303	479
Book Value per Share	$32.06	$33.99	$37.71
Tangible Book Value per Share	$22.92	$25.34	$29.38
Total Capital	502	406	413
Total Debt	184	65	39
Total Long-Term Debt	173	54	36
Net Debt	180	61	34
Capital Expenditures (CapEx)	23	18	21
Debt-free, Cash-free Net Working Capital (DFCFNWC)	195	183	185
Debt-free Net Working Capital (DFNWC)	199	187	190
Net Working Capital (NWC)	188	176	187
Net Nonoperating Expense (NNE)	2.61	3.30	4.74
Net Nonoperating Obligations (NNO)	180	61	34
Total Depreciation and Amortization (D&A)	17	16	19
Debt-free, Cash-free Net Working Capital to Revenue	42.60%	41.18%	37.63%
Debt-free Net Working Capital to Revenue	43.41%	42.09%	38.65%
Net Working Capital to Revenue	41.06%	39.67%	38.04%
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	$3.14	$2.11	$3.45
Adjusted Weighted Average Basic Shares Outstanding	9.91M	9.99M	9.92M
Adjusted Diluted Earnings per Share	$3.11	$2.09	$3.40
Adjusted Weighted Average Diluted Shares Outstanding	10.01M	10.08M	10.07M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	9.94M	9.89M	9.94M
Normalized Net Operating Profit after Tax (NOPAT)	34	24	39
Normalized NOPAT Margin	7.38%	5.48%	7.91%
Pre Tax Income Margin	9.04%	6.59%	8.60%
Debt Service Ratios	-	-	-
EBIT to Interest Expense	12.59	7.03	8.49
NOPAT to Interest Expense	9.46	5.02	6.88
EBIT Less CapEx to Interest Expense	6.19	3.26	4.81
NOPAT Less CapEx to Interest Expense	3.06	1.25	3.21
Payout Ratios	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	3.36%	12.95%

This table displays calculated financial ratios and metrics derived from Northwest Pipe's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	45.30%	4.17%	-9.36%	-1.81%	-3.47%	3.12%	14.25%	11.29%	9.67%	8.59%
EBITDA Growth	91.01%	106.64%	-10.94%	-16.36%	-30.62%	-14.90%	53.48%	18.95%	57.42%	16.92%
EBIT Growth	107.62%	249.73%	-14.28%	-18.80%	-37.85%	-17.25%	85.75%	18.18%	70.88%	15.85%
NOPAT Growth	117.36%	234.26%	-14.62%	-18.36%	-36.89%	-33.82%	87.63%	20.49%	69.06%	86.73%
Net Income Growth	101.29%	250.55%	-33.63%	-23.00%	-41.56%	-31.62%	121.76%	15.72%	76.23%	85.45%
EPS Growth	98.00%	243.48%	-36.11%	-23.71%	-41.41%	-31.65%	126.09%	16.22%	75.86%	85.19%
Operating Cash Flow Growth	182.09%	-202.09%	1,494.78%	-85.95%	10.31%	213.40%	-199.27%	1,760.82%	34.34%	299.33%
Free Cash Flow Firm Growth	-238.94%	84.45%	88.93%	85.85%	85.76%	457.55%	-219.14%	-7.01%	-30.62%	-95.76%
Invested Capital Growth	36.18%	8.17%	4.43%	6.62%	5.15%	-19.45%	12.41%	6.92%	7.05%	1.65%
Revenue Q/Q Growth	3.76%	-13.14%	-7.24%	17.43%	2.02%	-7.21%	2.77%	14.39%	0.54%	-8.12%
EBITDA Q/Q Growth	3.32%	-17.86%	-44.68%	78.14%	-14.30%	0.76%	-0.23%	38.06%	13.42%	-25.16%
EBIT Q/Q Growth	3.73%	-23.82%	-57.54%	142.01%	-20.61%	1.43%	-4.69%	53.97%	14.79%	-31.23%
NOPAT Q/Q Growth	3.33%	-16.71%	-62.17%	150.73%	-20.13%	-12.65%	7.26%	61.02%	12.06%	-3.52%
Net Income Q/Q Growth	2.93%	-20.04%	-70.33%	215.33%	-21.89%	-6.43%	-3.78%	64.55%	18.96%	-1.53%
EPS Q/Q Growth	2.06%	-20.20%	-70.89%	221.74%	-21.62%	-6.90%	-3.70%	65.38%	18.60%	-1.96%
Operating Cash Flow Q/Q Growth	80.12%	-151.97%	429.47%	-95.45%	1,314.37%	-46.57%	-388.40%	185.38%	2.11%	58.83%
Free Cash Flow Firm Q/Q Growth	23.59%	68.17%	54.09%	-26.73%	23.10%	899.05%	-140.98%	57.51%	6.14%	125.94%
Invested Capital Q/Q Growth	0.05%	31.08%	-21.66%	3.78%	-1.32%	0.41%	9.32%	-1.28%	-1.21%	-4.66%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	20.42%	20.47%	16.73%	19.32%	16.25%	17.51%	17.78%	19.93%	20.75%	18.76%
EBITDA Margin	15.28%	14.45%	8.62%	13.08%	10.98%	11.93%	11.58%	13.98%	15.77%	12.84%
Operating Margin	11.76%	10.28%	4.75%	9.85%	7.63%	7.83%	7.68%	10.52%	11.86%	8.77%
EBIT Margin	11.77%	10.32%	4.72%	9.74%	7.58%	8.28%	7.68%	10.34%	11.81%	8.84%
Profit (Net Income) Margin	8.10%	7.45%	2.38%	6.40%	4.90%	4.94%	4.63%	6.66%	7.87%	8.44%
Tax Burden Percent	73.69%	80.81%	71.29%	73.45%	74.27%	68.12%	72.52%	74.51%	73.66%	104.51%
Interest Burden Percent	93.34%	89.34%	70.76%	89.49%	87.08%	87.58%	83.05%	86.39%	90.55%	91.38%
Effective Tax Rate	26.31%	19.19%	28.71%	26.55%	25.73%	31.88%	27.48%	25.49%	26.34%	-4.51%
Return on Invested Capital (ROIC)	11.91%	7.93%	3.97%	8.21%	6.40%	5.27%	6.15%	8.81%	10.19%	11.16%
ROIC Less NNEP Spread (ROIC-NNEP)	9.92%	7.42%	2.69%	6.99%	5.07%	4.91%	4.87%	6.89%	8.48%	9.32%
Return on Net Nonoperating Assets (RNNOA)	1.19%	4.41%	0.69%	1.79%	1.07%	1.80%	1.22%	1.61%	1.59%	1.24%
Return on Equity (ROE)	13.10%	12.34%	4.66%	9.99%	7.48%	7.07%	7.37%	10.42%	11.78%	12.40%
Cash Return on Invested Capital (CROIC)	-22.29%	-0.81%	4.36%	1.58%	2.01%	26.97%	-5.10%	0.23%	1.32%	7.99%
Operating Return on Assets (OROA)	11.03%	8.22%	3.70%	7.29%	5.69%	6.14%	5.85%	7.90%	9.46%	7.33%
Return on Assets (ROA)	7.59%	5.94%	1.87%	4.79%	3.68%	3.66%	3.52%	5.09%	6.31%	7.00%
Return on Common Equity (ROCE)	13.10%	12.34%	4.66%	9.99%	7.48%	7.07%	7.37%	10.42%	11.78%	12.40%
Return on Equity Simple (ROE_SIMPLE)	8.25%	0.00%	9.33%	8.44%	7.04%	0.00%	6.99%	7.15%	8.16%	0.00%
Net Operating Profit after Tax (NOPAT)	11	8.88	3.36	8.42	6.73	5.88	6.30	10	11	11
NOPAT Margin	8.67%	8.31%	3.39%	7.24%	5.67%	5.33%	5.57%	7.84%	8.73%	9.17%
Net Nonoperating Expense Percent (NNEP)	1.99%	0.51%	1.27%	1.22%	1.33%	0.36%	1.28%	1.92%	1.71%	1.84%
Return On Investment Capital (ROIC_SIMPLE)	-	1.77%	-	-	-	1.45%	-	-	-	2.66%
Cost of Revenue to Revenue	79.58%	79.53%	83.27%	80.68%	83.75%	82.49%	82.22%	80.07%	79.25%	81.24%
SG&A Expenses to Revenue	8.66%	10.19%	11.97%	9.47%	8.62%	9.68%	10.11%	9.42%	8.89%	9.98%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	8.66%	10.19%	11.97%	9.47%	8.62%	9.68%	10.11%	9.42%	8.89%	9.98%
Earnings before Interest and Taxes (EBIT)	14	11	4.68	11	9.00	9.13	8.70	13	15	11
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	19	15	8.54	15	13	13	13	18	21	15
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.90	1.05	0.97	0.92	0.90	0.89	1.00	0.96	1.24	1.28
Price to Tangible Book Value (P/TBV)	1.29	1.47	1.34	1.26	1.22	1.19	1.33	1.26	1.61	1.64
Price to Revenue (P/Rev)	0.62	0.73	0.69	0.68	0.69	0.68	0.75	0.71	0.93	0.97
Price to Earnings (P/E)	10.96	10.74	10.37	10.91	12.81	14.38	14.33	13.41	15.15	13.99
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	9.13%	9.31%	9.65%	9.17%	7.81%	6.95%	6.98%	7.46%	6.60%	7.15%
Enterprise Value to Invested Capital (EV/IC)	0.92	1.03	0.97	0.94	0.92	0.91	1.00	0.97	1.20	1.26
Enterprise Value to Revenue (EV/Rev)	0.77	1.12	0.85	0.85	0.83	0.82	0.96	0.89	1.06	1.04
Enterprise Value to EBITDA (EV/EBITDA)	6.49	8.30	6.23	6.54	7.02	7.29	8.06	7.30	7.91	7.64
Enterprise Value to EBIT (EV/EBIT)	9.46	11.46	8.61	9.13	10.18	10.67	11.52	10.42	11.02	10.68
Enterprise Value to NOPAT (EV/NOPAT)	12.73	15.25	11.43	12.09	13.37	14.95	16.09	14.44	15.25	13.17
Enterprise Value to Operating Cash Flow (EV/OCF)	10.52	29.35	9.01	10.88	10.07	6.81	405.37	18.91	18.35	9.32
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	22.80	61.24	46.81	3.00	0.00	437.11	93.59	15.86
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.24	0.58	0.23	0.25	0.21	0.19	0.29	0.25	0.20	0.10
Long-Term Debt to Equity	0.23	0.54	0.20	0.21	0.17	0.16	0.26	0.22	0.17	0.10
Financial Leverage	0.12	0.59	0.26	0.26	0.21	0.37	0.25	0.23	0.19	0.13
Leverage Ratio	1.64	1.91	1.88	1.90	1.83	1.82	1.81	1.82	1.73	1.66
Compound Leverage Factor	1.53	1.71	1.33	1.70	1.59	1.59	1.51	1.57	1.57	1.52
Debt to Total Capital	19.62%	36.62%	18.60%	19.74%	17.04%	16.09%	22.70%	19.80%	16.47%	9.48%
Short-Term Debt to Total Capital	0.92%	2.14%	2.73%	2.63%	2.66%	2.65%	2.43%	2.46%	2.48%	0.72%
Long-Term Debt to Total Capital	18.70%	34.48%	15.87%	17.11%	14.38%	13.43%	20.27%	17.34%	13.99%	8.75%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	80.38%	63.38%	81.40%	80.26%	82.96%	83.92%	77.30%	80.20%	83.53%	90.52%
Debt to EBITDA	1.39	2.97	1.20	1.39	1.32	1.31	1.85	1.51	1.10	0.58
Net Debt to EBITDA	1.33	2.91	1.14	1.32	1.24	1.22	1.77	1.43	1.01	0.51
Long-Term Debt to EBITDA	1.33	2.79	1.03	1.21	1.11	1.09	1.65	1.32	0.94	0.54
Debt to NOPAT	2.74	5.45	2.21	2.58	2.51	2.68	3.69	2.99	2.12	1.01
Net Debt to NOPAT	2.60	5.34	2.09	2.45	2.36	2.51	3.53	2.83	1.95	0.88
Long-Term Debt to NOPAT	2.61	5.13	1.88	2.24	2.12	2.24	3.29	2.62	1.80	0.93
Altman Z-Score	2.25	2.35	2.32	2.30	2.37	2.35	2.42	2.43	2.85	3.19
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.78	3.07	2.89	2.94	3.03	2.83	3.56	3.06	3.20	3.49
Quick Ratio	0.80	0.83	0.71	0.71	0.81	0.54	0.68	0.75	0.93	0.96
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-90	-29	-13	-17	-13	103	-42	-18	-17	4.36
Operating Cash Flow to CapEx	460.07%	-72.28%	599.77%	29.69%	350.52%	179.24%	-570.88%	367.32%	380.64%	862.12%
Free Cash Flow to Firm to Interest Expense	-93.76	-24.48	-9.65	-14.05	-11.08	90.78	-28.60	-9.83	-11.58	4.79
Operating Cash Flow to Interest Expense	15.92	-6.79	19.20	1.01	14.57	7.98	-17.70	12.22	15.66	39.65
Operating Cash Flow Less CapEx to Interest Expense	12.46	-16.18	16.00	-2.38	10.41	3.53	-20.80	8.89	11.55	35.05
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.94	0.80	0.78	0.75	0.75	0.74	0.76	0.76	0.80	0.83
Accounts Receivable Turnover	8.03	7.37	7.47	7.04	6.26	7.46	8.12	7.02	6.59	8.60
Inventory Turnover	6.56	5.69	5.38	4.52	4.67	4.52	4.51	4.49	4.65	4.65
Fixed Asset Turnover	3.85	3.60	3.48	3.40	3.34	3.21	3.28	3.31	3.34	3.35
Accounts Payable Turnover	12.41	12.55	11.64	9.41	10.08	12.62	14.72	15.11	15.17	13.48
Days Sales Outstanding (DSO)	45.43	49.54	48.87	51.83	58.34	48.96	44.97	51.99	55.35	42.46
Days Inventory Outstanding (DIO)	55.66	64.14	67.81	80.69	78.24	80.75	81.00	81.24	78.48	78.58
Days Payable Outstanding (DPO)	29.42	29.08	31.37	38.79	36.22	28.92	24.79	24.15	24.05	27.08
Cash Conversion Cycle (CCC)	71.67	84.61	85.31	93.73	100.36	100.79	101.19	109.08	109.77	93.96
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	380	499	391	405	400	402	439	433	428	408
Invested Capital Turnover	1.37	0.95	1.17	1.13	1.13	0.99	1.11	1.12	1.17	1.22
Increase / (Decrease) in Invested Capital	101	38	17	25	20	-97	48	28	28	6.61
Enterprise Value (EV)	351	515	380	379	367	364	439	419	513	513
Market Capitalization	279	335	310	302	302	303	343	337	448	479
Book Value per Share	$31.09	$32.06	$32.30	$32.86	$33.47	$33.99	$34.63	$35.42	$36.53	$37.71
Tangible Book Value per Share	$21.84	$22.92	$23.27	$24.00	$24.72	$25.34	$25.98	$26.89	$28.11	$29.38
Total Capital	384	502	394	409	404	406	443	438	434	413
Total Debt	75	184	73	81	69	65	101	87	71	39
Total Long-Term Debt	72	173	63	70	58	54	90	76	61	36
Net Debt	72	180	69	77	65	61	96	82	66	34
Capital Expenditures (CapEx)	3.34	11	4.38	4.03	4.83	5.05	4.57	6.06	5.98	4.19
Debt-free, Cash-free Net Working Capital (DFCFNWC)	173	195	177	191	185	183	220	213	207	185
Debt-free Net Working Capital (DFNWC)	177	199	181	195	189	187	224	218	213	190
Net Working Capital (NWC)	173	188	170	184	178	176	213	207	202	187
Net Nonoperating Expense (NNE)	0.70	0.92	1.00	0.97	0.91	0.43	1.06	1.53	1.12	0.87
Net Nonoperating Obligations (NNO)	72	180	69	77	65	61	96	82	66	34
Total Depreciation and Amortization (D&A)	4.32	4.41	3.86	3.89	4.05	4.02	4.41	4.71	5.16	4.79
Debt-free, Cash-free Net Working Capital to Revenue	38.19%	42.60%	39.63%	42.87%	41.96%	41.18%	47.97%	45.26%	42.83%	37.63%
Debt-free Net Working Capital to Revenue	39.01%	43.41%	40.51%	43.81%	42.88%	42.09%	48.90%	46.22%	44.01%	38.65%
Net Working Capital to Revenue	38.23%	41.06%	38.10%	41.39%	40.44%	39.67%	46.55%	43.94%	41.79%	38.04%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.00	$0.80	$0.24	$0.74	$0.58	$0.55	$0.53	$0.87	$1.03	$1.02
Adjusted Weighted Average Basic Shares Outstanding	9.93M	9.91M	9.94M	10M	10.01M	9.99M	9.92M	9.91M	9.92M	9.92M
Adjusted Diluted Earnings per Share	$0.99	$0.79	$0.23	$0.74	$0.58	$0.54	$0.52	$0.86	$1.02	$1.00
Adjusted Weighted Average Diluted Shares Outstanding	10.01M	10.01M	10.09M	10.07M	10.11M	10.08M	10.05M	10.00M	10.06M	10.07M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	9.93M	9.94M	10.00M	10.01M	10.01M	9.89M	9.92M	9.92M	9.92M	9.94M
Normalized Net Operating Profit after Tax (NOPAT)	11	8.88	3.36	8.42	6.73	5.88	6.30	10	11	7.35
Normalized NOPAT Margin	8.67%	8.31%	3.39%	7.24%	5.67%	5.33%	5.57%	7.84%	8.73%	6.14%
Pre Tax Income Margin	10.99%	9.22%	3.34%	8.71%	6.60%	7.25%	6.38%	8.93%	10.69%	8.08%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	15.02	9.38	3.42	9.51	7.74	8.05	5.90	7.35	10.59	11.60
NOPAT to Interest Expense	11.06	7.56	2.45	7.07	5.79	5.19	4.28	5.57	7.83	12.04
EBIT Less CapEx to Interest Expense	11.56	-0.01	0.22	6.13	3.59	3.60	2.80	4.02	6.47	7.00
NOPAT Less CapEx to Interest Expense	7.60	-1.84	-0.75	3.69	1.63	0.73	1.17	2.24	3.72	7.44
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	3.36%	19.12%	20.45%	17.38%	12.95%

Frequently Asked Questions About Northwest Pipe's Financials

When does Northwest Pipe's fiscal year end?

According to the most recent income statement we have on file, Northwest Pipe's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Northwest Pipe's net income changed over the last 2 years?

Northwest Pipe's net income appears to be on an upward trend, with a most recent value of $34.21 million in 2024, rising from $31.15 million in 2022. The previous period was $21.07 million in 2023.

What is Northwest Pipe's operating income?

Northwest Pipe's total operating income in 2024 was $48.24 million, based on the following breakdown:

Total Gross Profit: $95.41 million
Total Operating Expenses: $47.16 million

How has Northwest Pipe revenue changed over the last 2 years?

Over the last 2 years, Northwest Pipe's total revenue changed from $457.67 million in 2022 to $492.55 million in 2024, a change of 7.6%.

How much debt does Northwest Pipe have?

Northwest Pipe's total liabilities were at $215.65 million at the end of 2024, a 16.3% decrease from 2023, and a 23.8% decrease since 2022.

How much cash does Northwest Pipe have?

In the past 2 years, Northwest Pipe's cash and equivalents has ranged from $3.68 million in 2022 to $5.01 million in 2024, and is currently $5.01 million as of their latest financial filing in 2024.

How has Northwest Pipe's book value per share changed over the last 2 years?

Over the last 2 years, Northwest Pipe's book value per share changed from 32.06 in 2022 to 37.71 in 2024, a change of 17.6%.

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This page (NASDAQ:NWPX) was last updated on 4/15/2025 by MarketBeat.com Staff

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Northwest Pipe (NWPX) Financials

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Northwest Pipe (NWPX) Financials

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