Northwest Pipe Company (NWPX) AI Stock Analysis

• Market Cap: $545.15M
• Dividend Yield: N/A
• Average Volume (3M): 54.69K
• Price to Earnings (P/E): 15.3
• Beta (1Y): 1.10
• Revenue Growth: 7.61%
• EPS Growth: 25.35%
• Country: US
• Employees: 1,358
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Manufacturing - Metal Fabrication
• EPS (TTM): 1.38
• Shares Outstanding: 9,653,882
• 10 Day Avg. Volume: 38,216
• 30 Day Avg. Volume: 54,694
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 0.00
• Enterprise Value/Revenue: 0.00
• Enterprise Value/Gross Profit: 0.00
• Enterprise Value/Ebitda: 0.00
• 1Y Price Target: $55.00
• Price Target Upside: -2.60% Downside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2

• Rating: 72 Outperform
• Price Target: $57.00 ▲(0.94% Upside)

Northwest Pipe Company receives a strong overall score driven by robust financial performance and positive sentiment from the latest earnings call. The company's strategic initiatives and backlog growth are promising, despite some challenges in specific segments. Technical indicators suggest bullish momentum, but caution is advised due to overbought signals. The valuation is attractive for growth investors, further supporting the stock's potential.

Northwest Pipe Company Business Overview & Revenue Model

Company Description

NWPX Infrastructure, Inc., together with its subsidiaries, engages in the manufacture and sale of water-related infrastructure products in North America and Canada. It operates through two segments, Engineered Steel Pressure Pipe (SPP) and Precast Infrastructure and Engineered Systems (Precast). The SPP segment provides large-diameter and 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. In addition, this segment makes products for industrial plant piping systems and certain structural 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, steel casing pipes, and bar-wrapped concrete cylinder pipes, as well as pipeline system joints, fittings, specialized components, and other environmental and engineered solutions. The company sells its water infrastructure products under the ParkUSA, Geneva Pipe and Precast, Permalok, and Northwest Pipe Company brands primarily 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 the Company Makes Money

Northwest Pipe Company generates revenue primarily through the sale of its water transmission and infrastructure products. Key revenue streams include the manufacturing and distribution of steel and reinforced concrete pipe, as well as custom fabrication services for water systems. The company serves a diverse customer base, including municipalities, contractors, and utility companies, which provides stability and a consistent demand for its products. Significant partnerships with governmental and industrial clients, along with participation in large-scale infrastructure projects, further enhance NWPX's revenue potential. Additionally, NWPX may benefit from government funding initiatives aimed at upgrading and maintaining water infrastructure, thereby creating opportunities for increased sales and expansion in its core markets.

Northwest Pipe Company Financial Statement Overview

Summary

Northwest Pipe Company demonstrates strong financial health, with consistent profitability and efficient cash flow management. While revenue growth is modest, the company maintains solid profit margins and a stable balance sheet. Cash flow indicators are particularly strong, showcasing excellent cash conversion and operational efficiency. The balanced debt-to-equity ratio and strong equity base contribute to financial stability, though close monitoring of equity trends is advisable.

Income Statement

The company shows a solid gross profit margin with a TTM figure of 19.1%, indicating efficient production management. The net profit margin is healthy at 6.6% TTM, reflecting profitability. However, revenue growth is modest, with a slight increase of 0.6% from the previous year, suggesting stable but slow growth. EBIT and EBITDA margins are strong at 9.1% and 11.1% TTM, respectively, highlighting good operational efficiency.

Balance Sheet

The debt-to-equity ratio is moderate at 0.34, showing a balanced financial structure. Return on equity is solid at 8.7% TTM, indicating effective utilization of shareholder funds. The equity ratio of 65.0% TTM suggests a strong capital base, reducing financial risk. However, a slight decrease in stockholders' equity compared to total assets may warrant attention.

Cash Flow

Free cash flow shows impressive growth at 92.9% TTM, reflecting strong cash management and operational efficiency. The operating cash flow to net income ratio is robust at 2.61, indicating excellent cash generation relative to accounting income. The free cash flow to net income ratio is also strong at 2.01, reinforcing the company's ability to convert net income into cash.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	499.13M	492.55M	444.36M	457.67M	333.31M	285.91M
Gross Profit	94.19M	95.41M	77.64M	85.86M	44.25M	50.52M
EBITDA	54.81M	67.42M	49.94M	62.15M	29.98M	41.12M
Net Income	33.38M	34.21M	21.07M	31.15M	11.52M	19.05M
Balance Sheet
Total Assets	592.58M	589.65M	597.88M	601.34M	547.68M	373.01M
Cash, Cash Equivalents and Short-Term Investments	2.03M	5.01M	4.07M	3.68M	3.00M	37.93M
Total Debt	135.33M	136.70M	162.94M	188.63M	185.19M	45.43M
Total Liabilities	213.13M	215.65M	257.52M	283.07M	264.30M	103.39M
Stockholders Equity	379.45M	374.00M	340.36M	318.27M	283.38M	269.63M
Cash Flow
Free Cash Flow	51.81M	34.25M	35.16M	-5.62M	-19.07M	41.74M
Operating Cash Flow	69.14M	55.05M	53.45M	17.54M	-5.81M	56.09M
Investing Cash Flow	-17.31M	-20.74M	-20.37M	-23.05M	-100.15M	-61.43M
Financing Cash Flow	-54.33M	-33.38M	-32.70M	6.19M	71.03M	12.26M

Northwest Pipe Company Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 56.47
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NWPX, the sentiment is Positive. The current price of 56.47 is above the 20-day moving average (MA) of 52.72, above the 50-day MA of 52.50, and above the 200-day MA of 45.61, indicating a bullish trend. The MACD of 1.13 indicates Negative momentum. The RSI at 68.73 is Neutral, neither overbought nor oversold. The STOCH value of 65.61 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NWPX.

Northwest Pipe Company Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NWPX	―	$545.15M	15.34	9.78%	―	7.61%	25.35%
IIIN	―	$607.35M	14.84	11.36%	3.63%	22.39%	112.75%
GIFI	―	$128.12M	13.55	11.00%	―	14.32%	―
MEC	―	$345.40M	20.09	7.37%	―	-16.95%	66.04%
Sector *	―	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
RYI	―	$685.09M	-29.88	-2.81%	3.18%	-4.89%	-214.50%
TG	―	$236.22M	593.86	-4.96%	―	-3.07%	―

Northwest Pipe Company Corporate Events

Northwest Pipe Extends Credit Agreement with Wells Fargo

On August 13, 2025, Northwest Pipe Company‘s subsidiaries entered into a Fourth Amendment to their Credit Agreement with Wells Fargo, extending the maturity date to August 13, 2030, and reducing pricing. This amendment allows for a revolving loan, swingline loan, and letters of credit up to $125 million, with an option to increase by $50 million, potentially impacting the company’s financial flexibility and operational financing.

The most recent analyst rating on (NWPX) stock is a Buy with a $57.00 price target. To see the full list of analyst forecasts on Northwest Pipe Company stock, see the NWPX Stock Forecast page.

Northwest Pipe Achieves Record Sales Amid Challenges

Northwest Pipe Company recently held its earnings call, revealing a generally positive sentiment despite some challenges. The company celebrated record-setting net sales and significant growth in its Precast segment, alongside improved cash flow and backlog. However, it also acknowledged hurdles such as a decline in WTS segment revenue and macroeconomic pressures affecting nonresidential construction. Overall, the strategic initiatives and strong performance slightly outweighed these challenges.

NWPX Infrastructure Reports Record Q2 2025 Results

NWPX Infrastructure, Inc., formerly known as Northwest Pipe Company, is a leading manufacturer of water-related infrastructure products, specializing in engineered water transmission systems and precast concrete products across North America. The company has recently announced its second quarter 2025 financial results, highlighting record net sales and significant achievements in its operational segments.