Npk International Inc. (NPKI)
NYSE:NPKI
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NPK International
(NYSE:NPKI)
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Rating:74Outperform
Price Target:
$16.00
▲(7.67% Upside)
Action:ReiteratedDate:04/01/26
The score is driven primarily by improving financial performance (strong balance sheet and 2025 profitability/FCF rebound) and a constructive earnings outlook from management’s 2026 guidance. Technicals add support with price above key moving averages and positive MACD, while valuation (P/E ~27.5 and no dividend yield provided) and noted business volatility/concentration risks temper the upside.
Positive Factors
Conservative balance sheet and low leverage
Very low leverage (debt-to-equity ~0.04) and a sizable equity base materially reduce refinancing and default risk, giving durable financial flexibility. This structural strength supports multi-quarter investments in fleet, opportunistic M&A and buybacks while smoothing outcomes across industry cycles.
Negative Factors
End-market concentration in power transmission
Heavy revenue exposure to power transmission concentrates demand, making results sensitive to utility budgets, regulatory cycles and a small set of large projects. Sector-specific downturns or project delays can cause outsized multi-quarter swings in revenue and margins despite company-level improvements.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet and low leverage
Very low leverage (debt-to-equity ~0.04) and a sizable equity base materially reduce refinancing and default risk, giving durable financial flexibility. This structural strength supports multi-quarter investments in fleet, opportunistic M&A and buybacks while smoothing outcomes across industry cycles.
Read all positive factors
NPK International (NPKI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.26B
Dividend YieldN/A
Average Volume (3M)801.72K
Price to Earnings (P/E)27.5
Beta (1Y)1.21
Revenue Growth-53.70%
EPS Growth-8.45%
CountryUS
Employees460
SectorEnergy
Sector Strength52
IndustryOil & Gas Equipment & Services
Share Statistics
EPS (TTM)0.13
Shares Outstanding84,527,930
10 Day Avg. Volume592,886
30 Day Avg. Volume801,716
Financial Highlights & Ratios
PEG Ratio-0.22
Price to Book (P/B)2.88
Price to Sales (P/S)3.65
P/FCF Ratio38.42
Enterprise Value/Market Cap1.03
Enterprise Value/Revenue4.65
Enterprise Value/Gross Profit12.78
Enterprise Value/Ebitda27.22
Forecast
1Y Price Target
$19.00Price Target Upside27.86% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)0.53
Revenue Forecast (FY)$315.06M
NPK International Business Overview & Revenue Model
Company Description
NPK International Inc. provides products, rentals, and services primarily to the oil and natural gas exploration and production (E&P) industry. It operates through two segments, Fluids Systems and Industrial Solutions. The Fluids Systems segment p...
How the Company Makes Money
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NPK International Earnings Call Summary
Earnings Call Date:Feb 25, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 05, 2026
Earnings Call Sentiment Positive
The call conveyed strong operational momentum: robust revenue growth (Q4 +31% YoY, FY +27% YoY), significant rental fleet expansion, marked profitability improvement (Q4 adjusted EBITDA $22M; FY EBITDA margin +200 bps), successful ERP rollout and a strategic UK acquisition. Management provided constructive 2026 guidance and committed to continued fleet investment and manufacturing capacity planning. Key negatives include margin pressure from elevated cross‑rental costs, service revenue softness, product‑sales timing volatility, sector concentration in power transmission, and a modest year‑end cash balance after acquisition and capex activity. Overall, the positive operational and financial progress and forward guidance outweigh the manageable challenges.Positive Updates
Quarterly and Annual Revenue Growth
Q4 total revenues increased 9% sequentially and 31% year‑over‑year; full year 2025 revenue was $277 million, up 27% YoY.
Negative Updates
Cross‑Rental Cost Pressure on Margins
Q4 gross margin improved sequentially to 37.7% but was modestly below last year's exceptional 39.2%; the year‑over‑year gross margin decline was attributed primarily to elevated cross‑rental costs.
Read all updates
Q4-2025 Updates
Positive
Negative
Quarterly and Annual Revenue Growth
Q4 total revenues increased 9% sequentially and 31% year‑over‑year; full year 2025 revenue was $277 million, up 27% YoY.
Read all positive updates
Company Guidance
Management guided 2026 revenue of $305–$325 million and adjusted EBITDA of $88–$100 million (midpoint implying ~14% revenue growth and ~25% EBITDA growth vs. 2025), with the bulk of growth coming from rentals and services while product sales are expected to be relatively flat; they expect Q1 rental & service revenue to grow roughly 20% YoY (Q1 product sales roughly flat) and Q1 gross margin to remain above the mid‑30s. Net CapEx is planned at $45–$55 million (including ~$35–$45 million targeted to expand the rental fleet), which should grow the DURA‑BASE rental fleet by a low‑ to mid‑teens percentage (CapEx excludes planned manufacturing expansion); quoted volumes entering 2026 are ~30% higher than at the end of 2024. SG&A is expected to run near ~$13 million/quarter in the near term as the company moves toward a mid‑teens % of revenue target (including an expected ~ $3M annual reduction from incentive resets), the effective tax rate is projected in the mid‑to‑upper‑20s (supported by ~ $40M of NOLs/credits), and capital allocation will prioritize fleet and manufacturing expansion, strategic M&A and programmatic/opportunistic buybacks while the company retains ~$139M of bank availability and a net debt position of about $12M.NPK International Financial Statement Overview
Summary
Income Statement
71
Positive
Balance Sheet
86
Very Positive
Cash Flow
67
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 277.04M | 217.49M | 207.65M | 192.99M | 614.78M |
| Gross Profit | 100.76M | 77.13M | 72.55M | 59.99M | 85.23M |
| EBITDA | 47.66M | 59.01M | 55.20M | 43.87M | 32.80M |
| Net Income | 36.76M | -150.26M | 14.52M | -20.83M | -25.53M |
Balance Sheet | |||||
| Total Assets | 441.76M | 393.68M | 642.34M | 714.88M | 752.89M |
| Cash, Cash Equivalents and Short-Term Investments | 5.14M | 17.76M | 789.00K | 23.18M | 24.09M |
| Total Debt | 36.62M | 18.62M | 72.74M | 133.93M | 137.16M |
| Total Liabilities | 90.60M | 67.19M | 226.97M | 291.85M | 290.50M |
| Stockholders Equity | 351.16M | 326.50M | 415.36M | 423.03M | 462.39M |
Cash Flow | |||||
| Free Cash Flow | 26.32M | -5.36M | 70.77M | -53.29M | -24.81M |
| Operating Cash Flow | 72.99M | 38.17M | 100.00M | -25.02M | -3.01M |
| Investing Cash Flow | -65.32M | 8.26M | -5.69M | 46.23M | -17.48M |
| Financing Cash Flow | -20.95M | -66.88M | -81.05M | -24.93M | 21.41M |
NPK International Technical Analysis
Positive
14.86
Price Trends
14.16
Positive
13.37
Positive
11.87
Positive
Market Momentum
0.16
Negative
58.86
Neutral
51.38
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NPKI, the sentiment is Positive. The current price of 14.86 is above the 20-day moving average (MA) of 14.17, above the 50-day MA of 14.16, and above the 200-day MA of 11.87, indicating a bullish trend. The MACD of 0.16 indicates Negative momentum. The RSI at 58.86 is Neutral, neither overbought nor oversold. The STOCH value of 51.38 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NPKI.
NPK International Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $1.26B | 27.50 | 10.97% | ― | -53.70% | -8.45% | |
74 Outperform | $2.42B | 30.15 | 5.41% | ― | 0.31% | 33.08% | |
67 Neutral | $1.42B | 30.17 | 1.97% | ― | -1.95% | 530.91% | |
66 Neutral | $1.48B | 37.20 | 2.93% | 2.94% | 4.20% | -59.96% | |
66 Neutral | $1.12B | -19.01 | 1.05% | ― | 0.17% | 7307.20% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% |
* Energy Sector Average
NPKI
NPK International
14.86
9.40
172.16%
HLX
Helix Energy
9.66
2.78
40.41%
RES
RPC
6.68
1.93
40.72%
TTI
Tetra Technologies
8.33
5.99
255.98%
NESR
National Energy Services Reunited
24.05
17.83
286.66%
NPK International Corporate Events
Business Operations and StrategyFinancial Disclosures
NPK International Reports Strong 2025 Growth and Profitability
Positive
Feb 26, 2026
NPK International Inc. is a specialty rental and services company focused on temporary worksite access solutions for power transmission, oil and gas, pipeline, rail and other infrastructure markets. It manufactures, sells and rents DURA-BASE compo...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.