Northwest Pipe Company (NWPX) AI Stock Analysis

• Market Cap: $420.81M
• Dividend Yield: N/A
• Average Volume (3M): 53.99K
• Price to Earnings (P/E): 12.9
• Beta (1Y): 0.99
• Revenue Growth: 8.06%
• EPS Growth: 38.46%
• Country: US
• Employees: 1,358
• Sector: Industrials
• Sector Strength: 92
• Industry: Manufacturing - Metal Fabrication
• EPS (TTM): 0.39
• Shares Outstanding: 9,878,073
• 10 Day Avg. Volume: 73,067
• 30 Day Avg. Volume: 53,994
• PEG Ratio: -3.16
• Price to Book (P/B): 1.04
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 5.90
• Enterprise Value/Market Cap: 1.22
• Enterprise Value/Revenue: 0.26
• Enterprise Value/Gross Profit: 5.43
• Enterprise Value/Ebitda: 2.15
• 1Y Price Target: $52.50
• Price Target Upside: 24.64% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2

• Rating: 72 Outperform
• Price Target: $45.00 ▲(6.84%Upside)

Northwest Pipe Company presents a compelling investment case with strong financial performance and reasonable valuation. While technical indicators are neutral, the company's strong cash flow and operational efficiency support its stable outlook. The earnings call highlights both challenges and opportunities, suggesting a balanced risk-reward profile.

Northwest Pipe Company Business Overview & Revenue Model

Company Description

Northwest Pipe Company (NWPX) is a leading manufacturer of engineered steel pipe water systems in North America. The company specializes in large-diameter, high-pressure steel pipeline systems used primarily for water infrastructure projects. Northwest Pipe Company serves a diverse customer base, including municipalities, private water companies, and industrial entities, providing solutions that are integral to water transmission, treatment, and storage.

How the Company Makes Money

Northwest Pipe Company generates revenue primarily through the manufacturing and sale of engineered steel pipes and related water infrastructure products. Its key revenue streams include contracts with municipalities and water agencies for large-scale water transmission projects, sales to industrial customers requiring specialized piping systems, and partnerships with construction firms involved in water infrastructure development. The company's revenue is influenced by factors such as government spending on infrastructure, regional water management needs, and the overall economic environment impacting construction and infrastructure investment.

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	495.44M	492.55M	444.36M	457.67M	333.31M	285.91M
Gross Profit	94.63M	95.41M	77.64M	85.86M	44.25M	50.52M
EBITDA	55.01M	67.42M	49.94M	62.15M	29.98M	41.56M
Net Income	32.93M	34.21M	21.07M	31.15M	11.52M	19.05M
Balance Sheet
Total Assets	559.52M	589.65M	597.88M	601.34M	547.68M	373.01M
Cash, Cash Equivalents and Short-Term Investments	3.30M	5.01M	4.07M	3.68M	3.00M	37.93M
Total Debt	187.56M	129.88M	162.94M	188.63M	185.19M	43.70M
Total Liabilities	272.52M	215.65M	257.52M	283.07M	264.30M	103.39M
Stockholders Equity	287.00M	374.00M	340.36M	318.27M	283.38M	269.63M
Cash Flow
Free Cash Flow	66.09M	34.25M	35.16M	-5.62M	-19.07M	41.74M
Operating Cash Flow	85.99M	55.05M	53.45M	17.54M	-5.81M	56.09M
Investing Cash Flow	-19.88M	-20.74M	-20.37M	-23.05M	-100.15M	-61.43M
Financing Cash Flow	-65.08M	-33.38M	-32.70M	6.19M	71.03M	12.26M

Northwest Pipe Company Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 42.12
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• 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 42.12 is above the 20-day moving average (MA) of 40.60, above the 50-day MA of 40.06, and below the 200-day MA of 45.38, indicating a neutral trend. The MACD of 0.73 indicates Negative momentum. The RSI at 64.65 is Neutral, neither overbought nor oversold. The STOCH value of 61.75 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
MEC	73 Outperform	$337.61M	14.99	9.40%	―	-8.42%	164.82%
NWPX	72 Outperform	$420.81M	12.87	9.13%	―	8.06%	38.46%
GIFI	72 Outperform	$114.38M	9.57	13.54%	―	18.83%	―
IIIN	72 Outperform	$770.06M	34.40	6.61%	0.30%	-0.33%	-7.06%
Sector *	67 Neutral	€8.31B	20.67	6.46%	2.74%	1.85%	-38.87%
AP	67 Neutral	$60.89M	14.14	7.11%	―	-3.60%	―
RYI	58 Neutral	$736.65M	37.86	-0.78%	3.28%	-9.04%	-108.47%

Northwest Pipe Company Corporate Events

Northwest Pipe Company Rebrands to NWPX Infrastructure

On June 12, 2025, Northwest Pipe Company officially changed its corporate name to NWPX Infrastructure, Inc., following shareholder approval at the annual meeting. This change was accompanied by amendments to the company’s Articles of Incorporation and Bylaws to reflect the new name. Additionally, shareholders elected two directors, approved executive compensation, and ratified the appointment of Baker Tilly US, LLP as the independent accountants for the year ending December 31, 2025.

The most recent analyst rating on (NWPX) stock is a Buy with a $42.00 price target. To see the full list of analyst forecasts on Northwest Pipe Company stock, see the NWPX Stock Forecast page.

Northwest Pipe Company Holds Annual Shareholder Meeting

On June 12, 2025, Northwest Pipe Company held its Annual Meeting of Shareholders, during which a presentation was delivered to its shareholders. The presentation, dated the same day, was provided as part of a report but is not intended to be filed under the Exchange Act, nor incorporated into any registration statement under the Securities Act of 1933.

The most recent analyst rating on (NWPX) stock is a Buy with a $42.00 price target. To see the full list of analyst forecasts on Northwest Pipe Company stock, see the NWPX Stock Forecast page.