Latest Ratios: P/E Ratio 32.6x · EV/EBITDA 23.1x · ROE 8.7%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.1B | $763M | $702M | $570M | $485M | $579M | $622M | $620M | $819M | $695M | $742M |
| Enterprise Value | $1.1B | $793M | $694M | $493M | $425M | $479M | $540M | $544M | $762M | $684M | $715M |
| P/E Ratio → | 32.56 | 23.06 | 16.91 | 16.52 | 23.45 | 22.60 | 13.26 | 14.68 | 20.51 | 13.12 | 16.65 |
| P/S Ratio | 2.15 | 1.52 | 1.81 | 1.67 | 1.51 | 1.63 | 1.76 | 2.01 | 2.53 | 2.08 | 2.17 |
| P/B Ratio | 2.73 | 1.93 | 1.91 | 1.60 | 1.39 | 1.62 | 1.66 | 1.69 | 2.24 | 1.90 | 2.12 |
| P/FCF | — | — | — | 13.10 | 62.65 | 18.20 | 16.23 | 96.25 | 12.12 | 43.76 | 12.52 |
| P/OCF | — | — | — | 12.57 | 55.29 | 16.70 | 15.19 | 64.73 | 10.74 | 28.63 | 11.17 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.57 | 1.79 | 1.45 | 1.32 | 1.35 | 1.53 | 1.76 | 2.36 | 2.05 | 2.09 |
| EV / EBITDA | 23.09 | 16.49 | 13.81 | 12.02 | 16.68 | 14.53 | 9.12 | 10.87 | 14.08 | 9.55 | 9.26 |
| EV / EBIT | 25.85 | 18.82 | 13.69 | 11.63 | 15.77 | 14.77 | 9.60 | 10.41 | 15.11 | 10.47 | 11.28 |
| EV / FCF | — | — | — | 11.33 | 54.90 | 15.07 | 14.07 | 84.45 | 11.28 | 43.06 | 12.07 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 16.0% | 16.0% | 20.2% | 19.8% | 17.1% | 18.1% | 24.1% | 23.3% | 23.5% | 26.1% | 25.1% |
| Operating Margin | 8.5% | 8.5% | 11.6% | 10.3% | 6.9% | 8.4% | 15.9% | 15.0% | 14.8% | 18.5% | 18.3% |
| Net Profit Margin | 6.6% | 6.6% | 10.7% | 10.1% | 6.4% | 7.2% | 13.3% | 13.7% | 12.4% | 15.9% | 13.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 8.7% | 8.7% | 11.5% | 9.8% | 5.9% | 7.0% | 12.7% | 11.5% | 10.9% | 14.8% | 12.9% |
| ROA | 6.9% | 6.9% | 9.3% | 8.1% | 4.9% | 6.0% | 11.1% | 10.2% | 9.7% | 12.8% | 11.1% |
| ROIC | 8.2% | 8.2% | 10.6% | 9.3% | 6.1% | 8.2% | 14.4% | 11.6% | 10.8% | 13.6% | 15.5% |
| ROCE | 10.9% | 10.9% | 12.1% | 9.6% | 6.1% | 8.0% | 14.9% | 12.6% | 13.1% | 17.1% | 18.1% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.08 | 0.08 | 0.03 | 0.03 | 0.03 | 0.03 | 0.01 | 0.01 | — | — | — |
| Debt / EBITDA | 0.69 | 0.69 | 0.20 | 0.26 | 0.42 | 0.31 | 0.06 | 0.07 | — | — | — |
| Net Debt / Equity | — | 0.08 | -0.02 | -0.22 | -0.17 | -0.28 | -0.22 | -0.21 | -0.16 | -0.03 | -0.08 |
| Net Debt / EBITDA | 0.62 | 0.62 | -0.15 | -1.88 | -2.35 | -3.02 | -1.40 | -1.52 | -1.05 | -0.16 | -0.35 |
| Debt / FCF | — | — | — | -1.77 | -7.75 | -3.13 | -2.16 | -11.80 | -0.84 | -0.71 | -0.46 |
| Interest Coverage | — | — | — | — | 3.29 | — | — | — | — | — | — |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 4.24 | 4.24 | 4.93 | 5.00 | 6.09 | 6.55 | 6.48 | 8.60 | 7.42 | 7.44 | 5.29 |
| Quick Ratio | 1.01 | 1.01 | 1.19 | 2.36 | 3.25 | 3.84 | 4.03 | 5.33 | 5.44 | 5.14 | 3.81 |
| Cash Ratio | 0.04 | 0.04 | 0.30 | 1.58 | 1.78 | 2.71 | 2.81 | 4.03 | 4.03 | 3.42 | 1.73 |
| Asset Turnover | — | 1.00 | 0.86 | 0.77 | 0.78 | 0.84 | 0.81 | 0.75 | 0.78 | 0.81 | 0.82 |
| Inventory Turnover | 1.38 | 1.38 | 1.11 | 1.44 | 1.75 | 2.03 | 1.98 | 1.84 | 2.63 | 2.36 | 2.69 |
| Days Sales Outstanding | — | 64.66 | 59.13 | 53.91 | 83.13 | 57.15 | 58.52 | 52.43 | 67.27 | 71.35 | 71.83 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.7% | 0.9% | 4.6% | 5.0% | 6.6% | 7.6% | 6.8% | 6.8% | 5.1% | 5.5% | 4.7% |
| Payout Ratio | 21.6% | 21.6% | 77.3% | 82.1% | 153.8% | 171.8% | 89.8% | 99.7% | 105.1% | 72.5% | 78.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.1% | 4.3% | 5.9% | 6.1% | 4.3% | 4.4% | 7.5% | 6.8% | 4.9% | 7.6% | 6.0% |
| FCF Yield | — | — | — | 7.6% | 1.6% | 5.5% | 6.2% | 1.0% | 8.2% | 2.3% | 8.0% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.7% | 0.9% | 4.6% | 5.0% | 6.6% | 7.6% | 6.8% | 6.8% | 5.1% | 5.5% | 4.7% |
| Shares Outstanding | — | $7M | $7M | $7M | $7M | $7M | $7M | $7M | $7M | $7M | $7M |
Includes 30+ ratios · 30 years · Updated daily
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10-year return with dividends reinvested.
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Quick answers to the most common questions about buying NPK stock.
National Presto Industries, Inc.'s current P/E ratio is 32.6x. The historical average is 16.6x. This places it at the 100th percentile of its historical range.
National Presto Industries, Inc.'s current EV/EBITDA is 23.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 11.7x.
National Presto Industries, Inc.'s return on equity (ROE) is 8.7%. The historical average is 10.1%.
Based on historical data, National Presto Industries, Inc. is trading at a P/E of 32.6x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
National Presto Industries, Inc.'s current dividend yield is 0.66% with a payout ratio of 21.6%.
National Presto Industries, Inc. has 16.0% gross margin and 8.5% operating margin.
National Presto Industries, Inc.'s Debt/EBITDA ratio is 0.7x, indicating low leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
Low gross margin sustainability
Metrics are mathematically derived from official filings.
Premium Multiple on Defense-Led Growth
NPK trades at 32.4x trailing earnings and 23.0x EV/EBITDA, a premium to peers like HBB (17.3x P/E) and SEB (8.4x P/E), per recent market data, implying expectations of sustained defense-driven expansion.
The market is pricing NPK as a growth story, not a stagnant housewares play, with the 29.7% revenue surge likely justifying the multiple. However, the forward EV/EBITDA of 0.50 appears anomalous and may reflect data inconsistencies, warranting caution. Investors should monitor whether the defense backlog can sustain this premium, as a reversion to historical margins could compress the multiple.
Margin Compression Masks Operating Leverage
Gross margin averaged 15.95% over the last year, down from 19.4% in 2026Q2, while operating margin expanded to 13.2% in 2026Q2 from 5.1% a year earlier, based on reported figures, suggesting cost control is offsetting input pressures.
The 2024Q4 spike to 24.3% gross margin appears non-recurring, and the recent 19.5% level in 2026Q2 suggests some recovery. Operating leverage is evident as revenue growth outpaces fixed costs, but the structurally low gross margin limits earnings power. The Safety segment's R&D spend may be a drag, and investors should isolate its impact to assess steady-state profitability.
ROIC Cyclicality Reflects Defense Lumps
ROIC swung from 1.2% in 2025Q3 to 5.0% in 2024Q4, with the latest quarter at 3.6%, as per quarterly data, indicating returns are volatile and tied to defense contract timing rather than a stable compounding trend.
The low ROIC relative to peers like HBB (14.0%) suggests NPK's capital base is large relative to earnings, partly due to heavy investment in PP&E (up 38.5% YoY). The cyclicality is likely driven by lumpy defense revenue recognition, and investors should assess ROIC over a full procurement cycle. The negligible debt means returns are purely equity-driven, but the cash-heavy balance sheet dilutes returns.
Working Capital Drags Cash Conversion
CCC averaged 280 days over the last year, with DIO at 246 days in 2026Q2, as reported in financial statements, indicating inventory is the primary driver of the extended cash cycle and a key source of cash flow volatility.
The high DIO reflects defense inventory build-up for contract fulfillment, but the negative FCF in several quarters (e.g., -40.6% in 2024Q2) shows the strain. DSO improved to 32 days in 2026Q2 from 55 days in 2026Q1, suggesting better receivables management, but DPO remains low at 29 days, limiting supplier financing. This working capital intensity explains the gap between cumulative earnings ($96.9M) and operating cash flow ($12.0M) over ten quarters.
Minimal Debt, But Cash Position Tight
Debt-to-equity stands at 0.02 with total debt of $9.2M, while cash is only $15.8M against $503M revenue, per balance sheet data, indicating a fortress balance sheet but limited liquidity buffer for a company of this scale.
The near-zero leverage provides ample financial flexibility, and interest coverage is not a concern given the low debt. However, the minimal cash relative to revenue suggests that working capital needs are funded by operations, which could be strained if defense payments lag. The current ratio of 5.22 is strong, but the quick ratio of 0.97 indicates inventory dependence, a risk if demand softens.
Inventory-Heavy Liquidity Under Stress
Current ratio is 5.22 but quick ratio is only 0.97 in 2026Q2, as per quarterly data, revealing that liquidity relies heavily on inventory, which may be difficult to liquidate quickly in a downturn.
The high inventory levels (DIO of 246 days) are likely tied to defense contracts, but in a severe demand shock, these assets may not convert to cash quickly. The cash balance of $15.8M is thin, and while the company has no debt, it may need to draw on credit lines if cash conversion slows. Investors should monitor whether the Safety segment's investment further strains liquidity.
Misapplied P/E on Lumpy Earnings
The trailing P/E of 32.4x is misleading for NPK because defense revenue recognition is lumpy, as evidenced by quarterly ROE swings from 1.4% to 5.8%, per reported figures, making a single-year multiple unreliable.
A more appropriate metric is EV/EBITDA, which at 22.97x still appears rich but better captures the cash-generating potential of the defense segment. Alternatively, investors should use a normalized earnings figure that smooths out contract timing and non-recurring items, such as the 2024Q4 tax anomaly. The market may be overreacting to short-term revenue spikes, and a multi-year average P/E would provide a clearer valuation signal.