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NPK International Inc.

Rank #320Value

NPKI · NYSE · Industrials

NPK International Inc. (NPKI) — Rank #320 by gross profitability (GP/assets 0.22) · ROE 10.5% · Piotroski F-Score 7 / 9.

As-of 2026-09-15 · CIK 0000071829 · all metrics point-in-time as of the filing date.

About

NPK International Inc., a temporary worksite access solutions company, manufactures, sells, and rents recyclable composite matting products in the United States and United Kingdom.

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The company engages in the installation and rental of matting systems, and related site construction and services to customers in various markets, including power transmission, oil and natural gas exploration and production, pipeline, renewable energy, petrochemical, construction, and other industries. It also offers recyclable composite mats to customers worldwide; and access road construction, site planning and preparation, environmental protection, erosion control, and site restoration services. The company was formerly known as Newpark Resources, Inc. and changed its name to NPK International Inc. in December 2024.

The company was founded in 1932 and is headquartered in The Woodlands, Texas..

Industry
Building Products & Equipment
Sector
Industrials
State
DE
Filer Category
Accelerated filer
Fiscal Year End
December 31
Website
npki.com

Price History

NPKI+385.7% · +37.2% CAGRSPY+80.5% · +12.5% CAGR

Company Snapshot

P/E and dividend yield are the primary valuation lenses for mature businesses.

Market Cap

$1.09B

P/E (annual)

28.4

P/S (annual)

3.9

P/B

2.9

P/OCF (annual)

14.9

Shareholder Yield

-2.4%

Employees

510

Industry

Building Products & Equipment

Exchange

NYSE

Signal Flags

1 green2 yellow1 red
Sequential beat (rev + EPS)Both revenue and EPS exceeded prior quarter — 2-quarter streak
Dilution above 2%Annual share count increase exceeds 2%. May be acceptable for high-growth companies funding talent via stock compensation
Disclosure regressionA previously-disclosed line item is no longer reported — worth checking the filing for why
Revenue declining YoYRevenue contracted year over year

Quality Profile

Profitability

1/1 pass
GP / assets
0.22
Return on equity
10.5%
Gross margin trend
PASS

Safety

1/1 pass
Balance-sheet safety
PASS
Debt / equity
0.21
Current ratio
1.61×
Net cash
-$2.21M

Cash Flow

2/3 pass
Positive FCF
PASS
Cash-backed earnings
WARN
Accruals healthy
PASS
SBC / revenue
2.0%

Growth

0/2 pass
Revenue growth
-41.2%
Piotroski F-Score
7 / 9
Share dilution
2.4%

Terry Smith quality gate

Passes 0/5 Terry Smith thresholds

1 of 5 threshold not computable from filed data.

What Growth Is Priced In

Implied revenue growth (10Y)

17.7%

fairly valued

The annual FCF growth rate today's price requires over a 10-year horizon (discount rate 10%, terminal growth 2.5%).

Dilution drag: 2.4% — per-share value needs a total required return of 20.1% once share-count change is priced in.

vs. own 6-year median revenue growth: -34.9%

Cost-of-equity sensitivity (implied growth at different discount rates)

r = 8%

12.8%

r = 10% (base)

17.7%

r = 12%

21.9%

Net debt / market cap: 0.2%

Base FCF: $26.3M3Y mean FCF: $10.6M

Valuation History

Current multiple vs historical range at each filing date. Band spans 25th-75th percentile.

P / E

Price / diluted EPS

N/A
3.4xmed 5.3x26.3x

P / S

Price / revenue per share

0.6xFair
0.3xmed 0.5x1.3x

P / B

Price / book value per share

0.6xFair
0.6xmed 0.6x1.5x

P / GP

Price / gross profit per share

16.1xExpensive
1.5xmed 4.3x18.6x

P / FCF

Price / free cash flow per share

7.8xFair
4.4xmed 10.0x108.6x

Dividend yield and payout ratio are the primary reads at this stage (trailing P/E — see valuation above).

Profitability

Gross profitability (GP / assets)

0.22

Primary signal (Novy-Marx).

15th pctl of 98 SIC 73 peers

Return on equity

10.5%

Gross margin

36.4%

12th pctl of 97 SIC 73 peers

Revenue growth (YoY)

-41.2%

Gross margin improving

Margin trend vs prior year.

PASS

Operating Leverage

2015201620172020
Revenue vs COGS
Revenue vs OpEx
Op. Income vs Revenue

Growth

Revenue CAGR (3Y)

—

Revenue CAGR (5Y)

-10.9%

Earnings CAGR (3Y)

—

FCF CAGR (3Y)

—

Anti-fragile safety

Balance-sheet safety

Composite anti-fragile check.

PASS

Debt / equity

0.21

88th pctl of 87 SIC 73 peers (best = lowest)

Current ratio

1.61×

35th pctl of 97 SIC 73 peers

Quick ratio

1.22×

Net cash

-$2.21M

Cash & equivalents minus total debt.

Cash-flow health

Free cash flow

$26.32M

Operating cash flow minus capex.

Positive free cash flow

PASS

FCF / net income

-0.32

Cash-backing of earnings.

FCF/NI divergence

Unfavorable divergence (yellow flag).

WARN

Accruals healthy

Cash-backed earnings.

PASS

SBC / revenue

2.0%

Stock-based comp intensity.

Piotroski F-Score

F-Score

7 / 9

Fundamental-strength score (0-9).

Lifecycle Phase History

20132020
Decline
Hypergrowth
Startup
View full financial statements →