National Presto (NPK) AI Stock Analysis

• Market Cap: $965.47M
• Dividend Yield: 0.92%
• Average Volume (3M): 65.32K
• Price to Earnings (P/E): 23.1
• Beta (1Y): 0.83
• Revenue Growth: 34.75%
• EPS Growth: 14.31%
• Country: US
• Employees: 1,126
• Sector: Industrials
• Sector Strength: 72
• Industry: Aerospace & Defense
• EPS (TTM): 2.11
• Shares Outstanding: 7,164,352
• 10 Day Avg. Volume: 82,849
• 30 Day Avg. Volume: 65,320
• PEG Ratio: -1.13
• Price to Book (P/B): 1.93
• Price to Sales (P/S): 1.52
• P/FCF Ratio: -21.09
• Enterprise Value/Market Cap: 1.02
• Enterprise Value/Revenue: 1.96
• Enterprise Value/Gross Profit: 12.32
• Enterprise Value/Ebitda: 20.49
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 60 Neutral
• Price Target: $138.00 ▲(15.78% Upside)
• Action: Downgraded Date: 03/14/26
• Date: Action: Downgraded 03/14/26

The score is most constrained by deteriorating cash-flow quality and weaker margin consistency despite revenue growth and a low-debt profile. Technicals are mildly supportive and corporate events add positive defense backlog visibility, but valuation and a low dividend yield offer limited upside support on their own.

Positive Factors

Conservative balance sheet

Very low trailing leverage provides durable financial flexibility, allowing the company to fund working capital, absorb cash-flow volatility, and pursue defense contract fulfilment or opportunistic investments without immediate reliance on external capital markets.

Large defense contract backlog

Multi-year government orders materially bolster Defense segment backlog and revenue visibility, supporting capacity planning and utilization. These structural awards improve predictable future cash flows and strategic positioning within military ordnance supply chains.

Steady revenue and profitability

Consistent top-line growth and mid-single-digit net margins indicate ongoing demand and underlying earnings power across consumer and defense lines, providing a foundation for reinvestment and resilience through industry cycles over the medium term.

Negative Factors

Weak cash generation

Earnings are not converting into cash, creating a structural concern: sustained negative operating/free cash flow can force reliance on balance-sheet liquidity, constrain capex or dividend policy, and hamper the company's ability to self-fund contract ramps or investments.

Rising debt levels

Although leverage is still low, a meaningful rise in debt versus recent years reduces the company's financial cushion. If cash conversion remains weak, higher debt could limit borrowing capacity, increase interest exposure, and restrict strategic optionality over the medium term.

Margin erosion vs prior peaks

Declining margins relative to recent historical highs point to structural cost pressures or adverse product mix. Persistent margin compression would reduce free cash flow potential and the ability to fund R&D, commercial expansion, or shareholder returns over the next several quarters.

National Presto Business Overview & Revenue Model

Company Description

National Presto Industries Inc. provides housewares and small electric appliance, and defense products primarily in North America. It operates through three segments: Housewares/Small Appliance, Defense, and Safety. The company's Housewares/Small Appliance segment designs, markets, and distributes housewares and small electrical appliances, including pressure cookers and canners; heat control single thermostatic control line of skillets, griddles, woks, and multi-purpose cookers; slow cookers; deep fryers; air fryers; waffle makers; pizza ovens; slicer/shredders; electric heaters; hot air, oil, and microwave corn poppers; dehydrators; rice cookers; microwave bacon cookers; egg cookers; coffeemakers and coffeemaker accessories; electric tea kettles; electric knife sharpeners; various kitchen gadgets; and timers under the Presto Control Master brand. This segment sells its products directly to retailers, as well as through independent distributors. The Defense segment manufactures and sells 40mm ammunition, precision mechanical and electro-mechanical products, and medium caliber cartridge cases; and detonators, booster pellets, release cartridges, lead azide, and other military energetic devices and materials. This segment primarily serves the United States Department of Defense (DOD) and DOD prime contractors. The Safety segment patents machine learning, digital sensors, and cloud-based technology to continuously monitor freezers and refrigerators detecting and alerting users to potential safety issues around pharmaceuticals and food. National Presto Industries Inc. was incorporated in 1905 and is based in Eau Claire, Wisconsin.

How the Company Makes Money

National Presto makes money mainly through two operating segments: 1) Defense segment (primary profit driver in many periods): The company generates revenue by manufacturing defense products—most notably ammunition and related items—for the U.S. government. Revenue is largely earned through government procurement contracts, which typically specify product types, quantities, delivery schedules, and pricing/terms. Earnings in this segment are influenced by contract awards, funded defense budgets, production volumes, input costs, and the timing of deliveries/acceptance under contract requirements. 2) Housewares/Small Appliances segment: The company generates revenue by selling small kitchen appliances and housewares products under the Presto brand (and related branding) into consumer channels. Revenue comes from unit sales to retailers and other distributors (and potentially other channels, depending on period). Profitability is driven by product mix, promotional activity, retail demand, pricing, manufacturing and sourcing costs, freight, and the competitive landscape in small appliances. Other contributing factors: If present in a given period, investment income and other non-operating items may affect net earnings, but specific amounts or significance are null here.

National Presto Financial Statement Overview

Summary

Revenue growth is solid (notably in 2025), and leverage is very low, reducing financial risk. However, profitability has become less consistent with material margin compression in 2025, and cash-flow quality is a major concern with negative operating cash flow and deeply negative free cash flow in both 2024–2025 despite positive net income.

Income Statement

Revenue has grown over the past several years (strong step-up in 2025), but profitability has become less consistent. Gross margin and net margin compressed materially in 2025 versus 2023–2024, and operating profitability appears weaker/less reliable in the most recent year. Net income remains positive, but the overall margin trajectory has been downward from the stronger 2020 level, suggesting less favorable mix, pricing, or cost pressure.

Balance Sheet

Leverage is very low, with debt near-zero in 2025 and modest debt levels in prior years, which reduces financial risk. Assets have been relatively stable and equity was strong in 2020–2024, supporting balance sheet resilience. However, 2025 equity is shown as zero (likely reporting/data issue), which limits what can be concluded for the latest period and adds uncertainty to balance-sheet-based return and leverage interpretation.

Cash Flow

Cash generation has turned volatile and weak recently: operating cash flow was negative in 2024 and 2025, and free cash flow was deeply negative in both years, despite positive net income—suggesting working-capital build, timing issues, or higher cash uses. This contrasts with 2020–2023 when the company generally produced positive operating cash flow and free cash flow. The two-year negative trend is the key financial quality risk in the current profile.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	503.52M	388.23M	340.91M	321.62M	355.78M
Gross Profit	78.81M	78.57M	67.45M	55.13M	64.40M
EBITDA	48.08M	50.26M	41.04M	30.28M	33.01M
Net Income	33.08M	41.46M	34.56M	20.70M	25.65M
Balance Sheet
Total Assets	504.66M	453.40M	440.54M	414.54M	422.38M
Cash, Cash Equivalents and Short-Term Investments	3.75M	22.67M	114.11M	95.57M	144.00M
Total Debt	33.06M	9.96M	10.66M	10.73M	10.16M
Total Liabilities	109.52M	85.77M	84.28M	66.48M	64.75M
Stockholders Equity	395.13M	367.63M	356.26M	348.05M	357.62M
Cash Flow
Free Cash Flow	-36.17M	-60.96M	43.55M	7.74M	31.82M
Operating Cash Flow	-9.14M	-53.43M	45.39M	8.77M	34.69M
Investing Cash Flow	-21.88M	14.96M	-447.00K	-16.44M	32.55M
Financing Cash Flow	16.60M	-31.53M	-28.00M	-31.43M	-43.47M

National Presto Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 119.19
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NPK, the sentiment is Positive. The current price of 119.19 is below the 20-day moving average (MA) of 133.46, below the 50-day MA of 126.50, and above the 200-day MA of 108.88, indicating a bullish trend. The MACD of 3.32 indicates Positive momentum. The RSI at 53.24 is Neutral, neither overbought nor oversold. The STOCH value of 37.23 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NPK.

National Presto Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BYRN	66 Neutral	$217.87M	42.35	15.76%	―	50.99%	612.36%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
SWBI	63 Neutral	$627.81M	32.29	2.71%	5.10%	-9.08%	-71.62%
NPK	60 Neutral	$965.47M	23.06	10.69%	0.92%	34.75%	14.31%
RGR	59 Neutral	$618.16M	-120.73	-1.50%	1.92%	3.90%	-92.10%
POWW	57 Neutral	$242.79M	22.47	―	―	-11.01%	-279.70%
SKYH	47 Neutral	$726.92M	-44.52	-3.94%	―	95.23%	89.44%

National Presto Corporate Events

National Presto Announces Executive Retirement Amid Dividend Declaration

On February 27, 2026, National Presto reported that 2025 net sales rose 29.7% to $503.5 million, driven by a 42.9% surge in Defense segment revenue from higher shipments, even as net earnings fell 20.2% to $33.1 million, or $4.63 per share, due to mix, efficiency and material-cost factors. The Housewares/Small Appliance segment posted lower sales and a significant operating loss, hurt by Trump-era tariffs, retailer resistance to price hikes, distribution-center relocation costs in Mississippi, and a capital loss tied to a key supplier’s bankruptcy, while the Safety segment recorded slightly higher but still modest sales and a reduced loss.

The company said uncertainty remains over potential refunds of IEEPA tariffs despite a Supreme Court ruling, noting that the Trump administration intends to contest refunds while planning additional tariffs at equal or higher rates than in 2025. The board declared a 2026 regular dividend of $1.00 per share, extending an 82-year unbroken dividend record but again foregoing an extra dividend because of cash demands to support defense inventory for the segment’s sizable backlog, and it set March 9, 2026, as the dividend record date, March 20, 2026, as the payment date, and May 19, 2026, for the annual shareholders’ meeting, with a March 24, 2026, record date.

Also on February 27, 2026, National Presto disclosed that long-time executive Jeff Morgan, who has been with the company for nearly 16 years and served as Vice President of Engineering for 10 years, will retire and resign his officer position effective April 30, 2026. His departure marks a leadership transition in the engineering function at a time when the company’s Defense segment is expanding and the Housewares/Small Appliance business is navigating tariff pressures and operational restructuring.

The most recent analyst rating on (NPK) stock is a Buy with a $145.00 price target. To see the full list of analyst forecasts on National Presto stock, see the NPK Stock Forecast page.

National Presto Subsidiary Wins Army 40mm IDIQ Contract

On January 30, 2026, the U.S. Army awarded AMTEC Corporation, a wholly owned subsidiary in National Presto’s Defense segment, an Indefinite Delivery Indefinite Quantity contract for 40mm Non-Recurring Engineering services, with five ordering periods running through January 29, 2031 and a maximum ceiling value of $49 million. The deal positions National Presto’s Defense segment as a key partner in the Army’s efforts to integrate, fabricate, and test 40mm grenade ammunition, supporting initiatives to enhance lethality and accuracy, improve manufacturing capabilities, and strengthen life cycle management for current and future 40mm rounds, although actual contract value will depend on evolving military requirements, funding, and procurement decisions.

The most recent analyst rating on (NPK) stock is a Buy with a $145.00 price target. To see the full list of analyst forecasts on National Presto stock, see the NPK Stock Forecast page.

National Presto Subsidiary Wins Major U.S. Army Order

On January 6, 2026, National Presto Industries announced that its wholly owned Defense segment subsidiary, AMTEC Corporation, received a second delivery order from the U.S. Army under a five-year Indefinite Delivery, Indefinite Quantity contract for production of the 40mm M918E2 High Velocity Target Practice – Day/Night/Thermal cartridge. The $139.3 million order, issued on December 30, 2025, with deliveries scheduled to begin in early 2027, reinforces National Presto’s position as a key supplier of training ammunition to the U.S. military and is expected to meaningfully bolster the company’s Defense segment backlog and future revenue visibility.

The most recent analyst rating on (NPK) stock is a Hold with a $115.00 price target. To see the full list of analyst forecasts on National Presto stock, see the NPK Stock Forecast page.

National Presto Wins Major Boeing Warhead Subcontract

On December 29, 2025, National Presto Industries announced that its Defense segment subsidiary, Spectra Technologies, LLC, received a $92.3 million subcontract from The Boeing Company, awarded on December 22, 2025, to produce warheads for the Small Diameter Bomb program, with deliveries scheduled to begin in late 2026 after completion of Spectra’s existing warhead orders for Boeing. The sizable subcontract underscores National Presto’s growing role as a supplier within the U.S. defense ordnance supply chain and is poised to bolster the company’s Defense segment backlog and revenue visibility, reinforcing its strategic positioning in specialized munitions manufacturing for major prime contractors.

The most recent analyst rating on (NPK) stock is a Hold with a $106.00 price target. To see the full list of analyst forecasts on National Presto stock, see the NPK Stock Forecast page.