NWPX · Nasdaq · Basic Materials
NWPX Infrastructure, Inc. (NWPX) — Rank #383 by gross profitability (GP/assets 0.16) · ROE 8.5% · Piotroski F-Score 9 / 9.
As-of 2026-10-30 · CIK 0001001385 · all metrics point-in-time as of the filing date.
About
NWPX Infrastructure, Inc., together with its subsidiaries, manufactures and sells water-related infrastructure products in the United States and Canada.
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It operates through two segments, Water Transmission Systems (WTS); and Precast Infrastructure and Engineered Systems (Precast). The WTS segment manufactures large-diameter, 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. Its products are also used for hydroelectric power systems, wastewater systems, seismic resiliency, and other 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, and other environmental and engineered solutions. It provides its products under the NWPX Geneva and NWPX Park brand names; and manufactures engineered water transmission systems and produces steel casing pipe, bar-wrapped concrete cylinder pipe, and pipeline system joints and fittings under the Northwest Pipe Company brand. In addition, the company provides solution-based products for various markets, including reinforced precast concrete products, lined precast sanitary sewer system structures, water distribution and management equipment including pump lift stations, wastewater pretreatment, and stormwater quality products. Further, it sells water infrastructure products 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.
- Industry
- Steel
- Sector
- Basic Materials
- State
- OR
- Filer Category
- Accelerated filer
- Fiscal Year End
- December 31
- Website
- nwpx.com
Company Snapshot
P/E and reverse DCF are the primary valuation lenses at this stage.
Market Cap
—
P/E (annual)
—
P/S (annual)
—
P/B
—
P/OCF (annual)
—
Shareholder Yield
—
Employees
1,318
Industry
Steel
Exchange
Nasdaq
11/12
Flags passed
NWPX fails 1 critical flag
Passes 11 of 12 quality flags
- FAILOperating margin declining
Operating margin lower than prior year
- PASSGross margin holding
- PASSDilution within 2%
- PASSFCF not negative from investment
- PASSDisclosure consistent
- PASSRevenue not declining
- PASSFree cash flow intact
- PASSPasses safety gate
- PASSBalance sheet stable
- PASSNo competitive retreat
- PASSSBC not compressing margin
- PASSNo valuation convergence
Strengths RPO outpacing revenue · Sequential beat (rev + EPS)
A count of the 12 warning flags that could be evaluated. Unweighted: colour follows the worst flag.
Quality Profile
Profitability
1/1 passSafety
1/1 passCash Flow
3/3 passGrowth
2/2 passFCF yield, shareholder yield, and buyback activity are the primary reads at this stage.
Profitability
Does it make money well?
Warning: Operating margin declining · GP/assets 0.16
Gross profitability (GP / assets)
0.16
Primary signal (Novy-Marx).
5th of 6 SIC 33 peers
Return on equity
8.5%
Gross margin
19.7%
4th of 6 SIC 33 peers
Revenue growth (YoY)
6.8%
RPO growth (YoY)
9.9%
Remaining performance obligations growth — RPO > revenue = forward demand building.
Gross margin improving
Margin trend vs prior year.
Operating Leverage
| 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|
| Revenue vs COGS | ||||
| Revenue vs OpEx | ||||
| Op. Income vs Revenue |
Growth
Revenue CAGR (3Y)
4.7%
Revenue CAGR (5Y)
13.0%
Earnings CAGR (3Y)
4.4%
FCF CAGR (3Y)
—
Cash Flow Health
Is the cash real?
No warning flags · FCF 33% above net income
Free cash flow
$47.11M
Operating cash flow minus capex.
Positive free cash flow
FCF vs net income
33.0%
(FCF − net income) ÷ |net income|. Positive: cash above earnings. Negative: below.
FCF not below net income
Fails when free cash flow is below net income (yellow flag).
Accruals healthy
Cash-backed earnings.
SBC / revenue
1.1%
Stock-based comp intensity.
Balance Sheet Strength
Can it survive a storm?
No warning flags · net cash $9.34M, F-Score 9/9
Balance-sheet safety
Composite anti-fragile check.
Debt / equity
0.56
1st of 6 SIC 33 peers (best = lowest)
Current ratio
2.71×
3rd of 6 SIC 33 peers
Quick ratio
1.00×
Net cash
$9.34M
Cash & equivalents minus total debt.
Piotroski F-Score
9 / 9
Fundamental-strength score (0-9).
Valuation
Is the price reasonable?
No warning flags
Capital allocation quality
Composite score
3.0 / 5
Lifecycle Phase History
Price History
Source filings on SEC EDGAR: 10-K annual reports · 10-Q quarterly reports