Latest Ratios: P/E Ratio 28.8x · EV/EBITDA 15.5x · ROE 9.2%. (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 | $989M | $621M | $486M | $305M | $337M | $316M | $279M | $326M | $227M | $184M | $165M |
| Enterprise Value | $1.1B | $721M | $617M | $464M | $522M | $505M | $287M | $303M | $233M | $141M | $144M |
| P/E Ratio → | 28.83 | 17.55 | 14.19 | 14.48 | 10.84 | 27.41 | 14.66 | 11.69 | 11.14 | — | — |
| P/S Ratio | 1.88 | 1.18 | 0.99 | 0.69 | 0.74 | 0.95 | 0.98 | 1.17 | 1.32 | 1.39 | 1.06 |
| P/B Ratio | 2.58 | 1.57 | 1.30 | 0.90 | 1.06 | 1.11 | 1.04 | 1.31 | 1.04 | 0.92 | 0.79 |
| P/FCF | 20.99 | 13.18 | 14.18 | 8.68 | — | — | 6.69 | 9.50 | — | — | — |
| P/OCF | 14.70 | 9.23 | 8.82 | 5.71 | 19.24 | — | 4.98 | 7.60 | — | — | 108.69 |
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 | — | 1.37 | 1.25 | 1.04 | 1.14 | 1.51 | 1.00 | 1.08 | 1.35 | 1.06 | 0.92 |
| EV / EBITDA | 15.46 | 10.24 | 9.17 | 9.34 | 8.44 | 17.02 | — | — | 36.67 | — | — |
| EV / EBIT | 21.35 | 14.68 | 12.86 | 13.59 | 11.60 | 30.85 | 10.80 | 9.15 | 13.19 | — | — |
| EV / FCF | — | 15.32 | 18.03 | 13.19 | — | — | 6.87 | 8.83 | — | — | — |
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 | 19.7% | 19.7% | 19.4% | 17.5% | 18.8% | 13.3% | 17.7% | 16.9% | 7.0% | 4.4% | -2.1% |
| Operating Margin | 9.7% | 9.7% | 9.8% | 7.6% | 9.8% | 4.8% | -8.9% | -10.3% | -1.7% | -6.9% | -8.7% |
| Net Profit Margin | 6.7% | 6.7% | 6.9% | 4.7% | 6.8% | 3.5% | 6.7% | 10.0% | 11.8% | -7.7% | -5.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 9.2% | 9.2% | 9.6% | 6.4% | 10.4% | 4.2% | 7.4% | 12.0% | 9.7% | -5.0% | -4.3% |
| ROA | 6.1% | 6.1% | 5.8% | 3.5% | 5.4% | 2.5% | 5.6% | 9.6% | 8.1% | -4.3% | -3.7% |
| ROIC | 7.6% | 7.6% | 7.2% | 5.1% | 6.9% | 3.2% | -7.6% | -9.6% | -1.2% | -4.0% | -5.1% |
| ROCE | 9.9% | 9.9% | 9.5% | 6.7% | 9.0% | 4.0% | -8.6% | -11.3% | -1.3% | -4.2% | -5.9% |
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 | 0.26 | 0.26 | 0.37 | 0.48 | 0.59 | 0.68 | 0.17 | 0.03 | 0.06 | 0.01 | 0.00 |
| Debt / EBITDA | 1.46 | 1.46 | 2.03 | 3.28 | 3.05 | 6.48 | — | — | 2.00 | — | — |
| Net Debt / Equity | — | 0.25 | 0.35 | 0.47 | 0.58 | 0.67 | 0.03 | -0.09 | 0.03 | -0.21 | -0.10 |
| Net Debt / EBITDA | 1.43 | 1.43 | 1.96 | 3.20 | 2.99 | 6.38 | — | — | 0.95 | — | — |
| Debt / FCF | — | 2.13 | 3.84 | 4.52 | — | — | 0.18 | -0.66 | — | — | — |
| Interest Coverage | 18.51 | 18.51 | 8.49 | 7.03 | 12.63 | 13.61 | 28.47 | 70.15 | 30.26 | -18.37 | -20.29 |
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 | 3.78 | 3.78 | 3.49 | 2.83 | 3.07 | 3.56 | 4.18 | 4.69 | 5.07 | 8.28 | 6.05 |
| Quick Ratio | 2.66 | 2.66 | 2.43 | 1.88 | 2.29 | 2.63 | 3.55 | 3.95 | 3.81 | 7.28 | 5.02 |
| Cash Ratio | 0.03 | 0.03 | 0.07 | 0.04 | 0.04 | 0.05 | 0.83 | 0.75 | 0.21 | 2.57 | 1.18 |
| Asset Turnover | — | 0.91 | 0.84 | 0.74 | 0.76 | 0.61 | 0.77 | 0.90 | 0.63 | 0.58 | 0.65 |
| Inventory Turnover | 5.69 | 5.69 | 4.98 | 4.02 | 5.23 | 4.85 | 8.07 | 7.57 | 4.06 | 7.44 | 8.38 |
| Days Sales Outstanding | — | 117.38 | 126.25 | 138.13 | 154.19 | 175.03 | 152.77 | 168.85 | 230.40 | 202.02 | 161.69 |
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 | 3.5% | 5.7% | 7.0% | 6.9% | 9.2% | 3.6% | 6.8% | 8.6% | 9.0% | — | — |
| FCF Yield | 4.8% | 7.6% | 7.1% | 11.5% | — | — | 14.9% | 10.5% | — | — | — |
| Buyback Yield | 1.9% | 3.0% | 0.9% | 0.2% | 0.3% | 0.0% | 0.2% | 0.0% | 0.6% | 0.0% | 0.0% |
| Total Shareholder Yield | 1.9% | 3.0% | 0.9% | 0.2% | 0.3% | 0.0% | 0.2% | 0.0% | 0.6% | 0.0% | 0.0% |
| Shares Outstanding | — | $10M | $10M | $10M | $10M | $10M | $10M | $10M | $10M | $10M | $10M |
Includes 30+ ratios · 30 years · Updated daily
Live VCP patterns, Cup & Handle overlays, support/resistance, and AI trade plans.
High-probability breakout stocks crossing their pivot across 5 pattern engines.
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying NWPX stock.
NWPX Infrastructure, Inc.'s current P/E ratio is 28.8x. The historical average is 13.6x. This places it at the 100th percentile of its historical range.
NWPX Infrastructure, Inc.'s current EV/EBITDA is 15.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 11.9x.
NWPX Infrastructure, Inc.'s return on equity (ROE) is 9.2%. The historical average is 6.6%.
Based on historical data, NWPX Infrastructure, Inc. is trading at a P/E of 28.8x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
NWPX Infrastructure, Inc. has 19.7% gross margin and 9.7% operating margin.
NWPX Infrastructure, Inc.'s Debt/EBITDA ratio is 1.5x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
Liquidity constraints and steel volatility
Metrics are mathematically derived from official filings.
Margin Expansion Signals Pricing Power
Gross margin expanded to 21.5% in Q2 2026 from 19.0% a year earlier, as reported in the latest financials, indicating improved pricing or mix. Operating margin reached 13.3%, up from 9.9%.
The sequential and year-over-year margin expansion suggests that NWPX is successfully passing through steel costs or benefiting from a richer product mix, likely driven by the Precast segment. The operating margin improvement from 9.2% in Q1 2026 to 13.3% in Q2 2026 indicates strong operating leverage on record revenue. However, the sustainability of these margins depends on steel price stability and the ability to maintain pricing power in a competitive bidding environment.
ROIC Recovery Reflects Operational Efficiency
ROIC improved to 3.2% in Q2 2026 from 1.9% in Q1 2026, as per the latest ratio data, driven by margin expansion and stable asset turnover. This suggests a recovery from the trough of 0.8% in Q1 2025.
The improvement in ROIC is primarily margin-driven, as asset turnover has remained relatively stable around 0.2x. The low absolute ROIC reflects the capital-intensive nature of the business, but the upward trajectory indicates that management is deploying capital more efficiently. Investors should monitor whether ROIC can sustain above 3% as revenue growth normalizes and working capital swings stabilize.
Working Capital Cycle Lengthens on Project Timing
Cash conversion cycle extended to 150 days in Q2 2026 from 161 days in Q1 2026, according to reported figures, driven by DSO of 118 days and DPO of 26 days. This reflects the lumpy nature of municipal projects.
The CCC remains elevated due to long receivables collection periods typical of government contracts, but the sequential improvement from 161 to 150 days is a positive sign. DSO has declined from 133 days in Q4 2025 to 118 days in Q2 2026, suggesting better collection efforts. However, DPO remains low at 26 days, indicating limited supplier leverage, which may be a structural characteristic of the industry.
Deleveraging Trend Enhances Financial Flexibility
Debt-to-equity fell to 0.24 in Q2 2026 from 0.55 in Q1 2024, as per balance sheet data, while interest coverage improved to 68.1x from 5.9x. This indicates a significantly strengthened balance sheet.
The substantial reduction in leverage, with total debt down to $100.6M from $189.9M, has dramatically improved interest coverage, reducing refinancing risk. The D/EBITDA ratio of 3.76x in Q2 2026, down from 14.49x in Q1 2024, suggests that debt service is now comfortable. However, the low cash balance of $2.3M warrants monitoring, as it may limit flexibility for unexpected working capital needs or strategic investments.
Liquidity Ratios Solid but Cash Buffer Thin
Current ratio stands at 2.71 and quick ratio at 1.94 in Q2 2026, as reported, indicating adequate short-term coverage. However, cash and equivalents of only $2.3M suggest a reliance on receivables and inventory.
The current and quick ratios are healthy, but the minimal cash balance implies that NWPX is operating with a tight cash buffer. The company's ability to weather a sudden downturn or fund working capital swings depends on the collectability of receivables and the liquidity of inventory. Given the project-based nature of revenue, a delay in collections could strain liquidity despite the strong ratios.
P/E Misleads on Cyclical Earnings
The trailing P/E of 30.9x overstates valuation because it is based on trough earnings, while forward P/E of 20.7x better reflects normalized earnings, as per current multiples. Investors should focus on EV/EBITDA and P/FCF.
NWPX's earnings are highly cyclical and project-driven, making trailing P/E unreliable. The forward P/E of 20.7x is more indicative of expected earnings growth, but even that may be distorted by the lumpy nature of revenue. EV/EBITDA of 16.5x trailing and 11.4x forward provides a cleaner comparison, as it adjusts for capital structure. P/FCF of 22.5x also offers insight into cash generation, but given the volatility in FCF, investors should use a multi-year average to assess valuation.