Latest Ratios: P/E Ratio 18.8x · EV/EBITDA 8.9x · ROE 10.6%. (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 | $730M | $1.0B | $670M | — | — | — | — | — | — | — | — |
| Enterprise Value | $761M | $1.1B | $671M | — | — | — | — | — | — | — | — |
| P/E Ratio → | 18.79 | 28.38 | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 2.37 | 3.69 | 3.08 | — | — | — | — | — | — | — | — |
| P/B Ratio | 2.11 | 2.91 | 2.05 | — | — | — | — | — | — | — | — |
| P/FCF | 65.20 | 38.83 | — | — | — | — | — | — | — | — | — |
| P/OCF | 10.00 | 14.00 | 17.56 | — | — | — | — | — | — | — | — |
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 | — | 3.80 | 3.09 | — | — | — | — | — | — | — | — |
| EV / EBITDA | 8.93 | 14.58 | 11.21 | — | — | — | — | — | — | — | — |
| EV / EBIT | 16.29 | 22.10 | 21.32 | — | — | — | — | — | — | — | — |
| EV / FCF | — | 40.02 | — | — | — | — | — | — | — | — | — |
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 | 35.6% | 35.6% | 35.5% | 34.9% | 31.1% | 13.9% | 3.9% | 16.5% | 19.0% | 18.7% | 7.1% |
| Operating Margin | 16.9% | 16.9% | 14.9% | 11.0% | 3.4% | -1.4% | -16.0% | 1.3% | 6.7% | 4.2% | -12.1% |
| Net Profit Margin | 13.0% | 13.0% | -69.1% | 7.0% | -10.8% | -4.2% | -16.4% | -1.6% | 3.4% | -0.8% | -8.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 10.6% | 10.6% | -40.5% | 3.5% | -4.7% | -5.4% | -15.6% | -2.3% | 5.8% | -1.2% | -8.0% |
| ROA | 8.6% | 8.6% | -29.0% | 2.1% | -2.8% | -3.5% | -10.0% | -1.4% | 3.6% | -0.7% | -4.9% |
| ROIC | 9.9% | 9.9% | 6.0% | 3.4% | 0.9% | -1.1% | -9.3% | 1.1% | 7.2% | 3.9% | -7.4% |
| ROCE | 12.7% | 12.7% | 7.6% | 4.3% | 1.1% | -1.5% | -11.9% | 1.3% | 8.4% | 4.6% | -8.5% |
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 | 0.10 | 0.10 | 0.06 | 0.18 | 0.32 | 0.30 | 0.24 | 0.34 | 0.28 | 0.29 | 0.31 |
| Debt / EBITDA | 0.51 | 0.51 | 0.31 | 1.34 | 2.97 | 4.11 | — | 3.25 | 1.48 | 2.25 | — |
| Net Debt / Equity | — | 0.09 | 0.00 | 0.17 | 0.26 | 0.24 | 0.18 | 0.25 | 0.19 | 0.19 | 0.14 |
| Net Debt / EBITDA | 0.44 | 0.44 | 0.01 | 1.32 | 2.45 | 3.39 | — | 2.40 | 0.97 | 1.46 | — |
| Debt / FCF | — | 1.20 | — | 1.02 | — | — | 2.22 | 5.03 | 5.78 | 14.85 | — |
| Interest Coverage | 3666.38 | 3666.38 | 12.01 | 5.80 | 1.50 | -1.07 | -7.43 | 0.78 | 4.18 | 2.21 | -5.56 |
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 | 1.43 | 1.43 | 2.53 | 2.62 | 2.61 | 2.58 | 2.14 | 3.72 | 3.69 | 3.19 | 2.57 |
| Quick Ratio | 1.22 | 1.22 | 2.20 | 2.48 | 1.70 | 1.55 | 1.17 | 2.19 | 2.30 | 2.14 | 1.78 |
| Cash Ratio | 0.09 | 0.09 | 0.40 | 0.01 | 0.14 | 0.16 | 0.20 | 0.38 | 0.40 | 0.36 | 0.49 |
| Asset Turnover | — | 0.63 | 0.55 | 0.32 | 0.27 | 0.82 | 0.69 | 0.91 | 1.03 | 0.83 | 0.59 |
| Inventory Turnover | 15.50 | 15.50 | 9.57 | 7.26 | 0.89 | 3.41 | 3.20 | 3.48 | 3.90 | 3.68 | 3.05 |
| Days Sales Outstanding | — | 78.79 | 125.60 | 75.26 | 458.15 | 115.36 | 104.50 | 96.45 | 98.10 | 129.78 | 165.90 |
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 | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.3% | 3.5% | — | — | — | — | — | — | — | — | — |
| FCF Yield | 1.5% | 2.6% | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 3.1% | 2.2% | 0.7% | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | 3.1% | 2.2% | 0.7% | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $86M | $87M | $88M | $94M | $91M | $90M | $90M | $93M | $88M | $84M |
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying NPKI stock.
NPK International Inc.'s current P/E ratio is 18.8x. The historical average is 28.4x.
NPK International Inc.'s current EV/EBITDA is 8.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 12.9x.
NPK International Inc.'s return on equity (ROE) is 10.6%. The historical average is -0.1%.
Based on historical data, NPK International Inc. is trading at a P/E of 18.8x. Compare with industry peers and growth rates for a complete picture.
NPK International Inc. has 35.6% gross margin and 16.9% operating margin. Operating margin between 10-20% is typical for established companies.
NPK International Inc.'s Debt/EBITDA ratio is 0.5x, indicating low leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
Volatile Margins and Cash Conversion
Metrics are mathematically derived from official filings.
Premium Multiples Rest on Recovering Earnings
Based on reported figures, NPKI trades at 20.6x trailing earnings and 10.5x EV/EBITDA, a premium to ASTE's 21.3x P/E only in the sense that it sits close to the peer median, while its 2.1x price-to-book implies investors are paying for earnings durability not yet visible in the latest quarter.
The forward P/E of 18.1x compared with trailing 20.6x implies consensus expects earnings to expand modestly, which is consistent with the 2025 margin recovery but not with the latest quarter's compression to 8.0% net margin. The 27.7x price-to-free-cash-flow multiple is more demanding than the earnings multiple because free cash flow turned negative in 2026Q3, so the valuation leans on earnings quality holding up. Investors should monitor whether trailing free cash flow stabilizes before accepting the current premium as fair.
Margin Recovery Losing Momentum Again
As reported in quarterly statements, NPKI's gross margin fell from a 36.9% level in 2025Q4 to 31.3% in 2026Q3, the lowest reading since the 2024Q3 impairment period, while net margin dropped to 8.0% from 14.3% over the same span.
The gap between operating margin of 12.0% and net margin of 8.0% narrows the spread versus earlier quarters, suggesting below-the-line costs are absorbing a greater share of operating profit than before. Compared with the 2025 range of roughly 16-21% operating margin, the current figure points to pricing or cost pressure at the gross profit line rather than overhead drift. Treating the 2024Q3 impairment-distorted net income as noise, the mid-cycle net margin appears closer to the 12-15% band than the latest 8.0% reading.
Returns Compressed Despite Expanding Asset Base
Based on NPKI's reported figures, ROIC slipped to 1.8% in 2026Q3 from 3.2% a year earlier, and ROE to 1.7% from 3.3%, indicating that equity and capital growth has outpaced the earnings generated on it.
Compared with the 2.7-3.2% ROIC range sustained through most of 2025, the current reading suggests incremental capital, including the rise in net PPE to $268.6M, is not yet producing proportionate returns. Returns of this magnitude sit well below the 10.0% ROIC reported for peer CECO and the 46.4% for ITRN, pointing to a structurally lower return profile in construction materials. Investors should monitor whether the PPE build-out translates into higher asset turnover over the coming quarters.
Low Leverage Masks Thin Cash Buffer
According to reported balance sheet figures, NPKI's debt-to-equity ratio stands at 0.10 and debt-to-EBITDA at 2.00, both comfortable levels, yet interest coverage fell to 19.7x in 2026Q3 from 46.8x a quarter earlier, a sharp decline in the cushion behind debt service.
The low debt-to-equity ratio relative to peer ASTE's 0.51 indicates the company is not reliant on borrowings to fund operations, which reduces refinancing risk. However, the swing in interest coverage and the rise in debt-to-EBITDA from 0.78x to 2.00x within two quarters suggests earnings volatility is the more relevant leverage concern than the absolute debt level. Covenant headroom cannot be assessed from the supplied data, so this interpretation should be treated as a directional inference.
Asset Turnover Metric Obscures Working Capital Strain
Interest coverage and asset turnover are often read as proof of efficiency in this business model, yet the reported cash conversion cycle swung from 45 days to 59 days across the last two quarters, which the headline ratios do not reveal.
Asset turnover near 0.17x is frequently cited as a sign of disciplined capital use, but for a capital-intensive construction materials producer it largely reflects the heavy PPE base rather than operating efficiency. The more informative metric is the cash conversion cycle combined with operating cash flow to net income, which ranged from negative to above 4x across the period. Analysts should weight working capital trends and free cash flow margin more heavily than asset turnover when judging the business.