Northwest Pipe Company (NWPX) AI Stock Analysis

• Market Cap: $578.12M
• Dividend Yield: N/A
• Average Volume (3M): 55.02K
• Price to Earnings (P/E): 16.3
• 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: 44,824
• 30 Day Avg. Volume: 55,023
• PEG Ratio: 0.22
• Price to Book (P/B): 1.28
• Price to Sales (P/S): 0.97
• P/FCF Ratio: 13.97
• Enterprise Value/Market Cap: 1.12
• Enterprise Value/Revenue: 1.25
• Enterprise Value/Gross Profit: 6.53
• Enterprise Value/Ebitda: 12.19
• 1Y Price Target: $60.00
• Price Target Upside: -0.27% Downside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2

• Rating: 76 Outperform
• Price Target: $64.00 ▲(6.38% Upside)

Northwest Pipe Company scores well due to its strong financial performance and record-setting earnings results. The technical indicators suggest bullish momentum, although caution is advised as the stock approaches overbought levels. The valuation is reasonable, supporting the overall positive outlook.

Northwest Pipe Company Business Overview & Revenue Model

Company Description

Northwest Pipe Company (NWPX) is a leading manufacturer of water-related infrastructure products, primarily serving the utility and construction sectors. The company specializes in producing a wide range of products, including pipe and fittings for water transmission and distribution, as well as other infrastructure solutions. NWPX operates through two main segments: Water Transmission and Water Infrastructure, focusing on the construction and rehabilitation of water systems across North America. By leveraging advanced manufacturing techniques and a commitment to quality, NWPX supports municipal, industrial, and agricultural clients in meeting their water management needs.

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 solid financial health with strong revenue growth and stable profitability margins. The balance sheet reflects a balanced leverage position and effective equity utilization. Despite a decline in free cash flow, the company maintains strong cash flow ratios, supporting its operational needs. Continued focus on cost management and cash flow improvement will be key to sustaining growth.

Income Statement

Northwest Pipe Company has shown a strong revenue growth trajectory, particularly in the TTM period with a 74.4% increase. The gross profit margin is stable around 18.9%, and the net profit margin is healthy at 6.7%. However, there is a slight decline in EBIT and EBITDA margins in the TTM compared to the previous year, indicating potential cost pressures.

Balance Sheet

The company maintains a moderate debt-to-equity ratio of 0.36 in the TTM, reflecting a stable leverage position. Return on equity is reasonable at 8.9%, showing effective use of equity to generate profits. The equity ratio is solid, indicating a strong equity base relative to total assets.

Cash Flow

Operating cash flow is strong, covering net income comfortably with a ratio of 1.04 in the TTM. However, free cash flow has decreased by 21.6% in the TTM, which could signal potential cash management challenges. The free cash flow to net income ratio remains robust at 0.75, indicating good cash conversion.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	519.99M	492.55M	444.36M	457.67M	333.31M	285.91M
Gross Profit	99.32M	95.41M	77.64M	85.86M	44.25M	50.52M
EBITDA	53.23M	67.42M	49.94M	62.15M	29.98M	41.12M
Net Income	36.63M	34.21M	21.07M	31.15M	11.52M	19.05M
Balance Sheet
Total Assets	605.23M	589.65M	597.88M	601.34M	547.68M	373.01M
Cash, Cash Equivalents and Short-Term Investments	2.67M	5.01M	4.07M	3.68M	3.00M	37.93M
Total Debt	132.03M	136.70M	162.94M	188.63M	185.19M	45.43M
Total Liabilities	218.88M	215.65M	257.52M	283.07M	264.30M	103.39M
Stockholders Equity	386.35M	374.00M	340.36M	318.27M	283.38M	269.63M
Cash Flow
Free Cash Flow	48.22M	34.25M	35.16M	-5.62M	-19.07M	41.74M
Operating Cash Flow	67.37M	55.05M	53.45M	17.54M	-5.81M	56.09M
Investing Cash Flow	-19.12M	-20.74M	-20.37M	-23.05M	-100.15M	-61.43M
Financing Cash Flow	-51.30M	-33.38M	-32.70M	6.19M	71.03M	12.26M

Northwest Pipe Company Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 60.16
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• 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 60.16 is above the 20-day moving average (MA) of 53.12, above the 50-day MA of 52.69, and above the 200-day MA of 45.67, indicating a bullish trend. The MACD of 1.51 indicates Negative momentum. The RSI at 77.88 is Negative, neither overbought nor oversold. The STOCH value of 63.36 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	―	$578.12M	16.34	9.78%	―	7.61%	25.35%
IIIN	―	$606.57M	14.89	11.36%	3.59%	22.39%	112.75%
GIFI	―	$125.23M	13.25	11.00%	―	14.32%	―
MEC	―	$362.06M	21.06	7.37%	―	-16.95%	66.04%
Sector *	―	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
RYI	―	$685.09M	―	-2.81%	3.18%	-4.89%	-214.50%
TG	―	$241.11M	606.14	-4.96%	―	-3.07%	―

Northwest Pipe Company Corporate Events

NWPX Infrastructure Reports Record Q3 2025 Results

NWPX Infrastructure, Inc., a leading manufacturer of water-related infrastructure products in North America, specializes in engineered water transmission systems and precast infrastructure solutions.

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.