NWPX Infrastructure, Inc. (NWPX) Stock

NWPX Infrastructure, Inc. (NWPX) is a Materials stock trading at $110.29 (as of 2026-09-03), with a market capitalization of $1.06B and a trailing P/E of 21.8. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

NWPX Infrastructure, Inc., together with its subsidiaries, manufactures and sells water infrastructure products in North America and Canada. It operates through Engineered Steel Pressure Pipe for large-diameter/high-pressure steel pipeline systems and through Precast infrastructure and engineered systems, which include precast and reinforced concrete components and related environmental and engineered products for water applications.

Understand NWPX Infrastructure, Inc.: how it makes money

NWPX engineers and fabricates large-diameter steel pressure pipes and precast concrete structures for municipal water systems, selling on project contracts to utilities and engineering firms. Revenue leans on the steel-pipe line, which is lumpy with infrastructure bid cycles, while precast adds a smaller, faster-gre周期的 stabilizer.

NWPX profits by bidding on bespoke, long-lead infrastructure projects where contract pricing locks in steel and labor costs at award, so earnings swing with win/loss timing rather than steady production volume.

Revenue by segment (latest quarter)
Water Transmission$0.1B
Precast & Systems$0.0B

Business quality (Mixed): Cycle-driven project business with moderate margins (13% operating) and lumpy revenue; growth is real but tied to municipal capex cycles and weather-sensitive operations.

Valuation: At 22× earnings, NWPX trades in line with the Steel Works average (22×).

Bull case

  • Backlog underpins next-year revenue: Management cited strong WTS pricing, bidding activity, and backlog as support for continued margin and revenue momentum, giving investors forward visibility into the next few quarters.
  • Bouton scales on thin capital: Management indicated Bouton could roughly double its revenue within two to three years while requiring limited additional capital, a low-friction growth lever within the existing platform.
  • Fair multiple with 20% growth: At 21.9x earnings versus a 22x Steel Works industry average (1% premium), the stock is fairly valued while quarterly revenue is growing roughly 20% year over year, leaving room for multiple expansion if margins hold.

Bear case

  • Volume dip flags timing risk: WTS production volume fell 9% in 2025 due to project content and timing shifts, a reminder that a single lost or delayed award can dent a fiscal year.
  • Comp costs squeeze operating margin: Management noted higher wages, benefits, and incentive compensation are pressuring SG&A, which could offset gross-margin gains from steel pricing and cap the 13% operating margin.
  • Precast pipeline below prior year: The Precast unit entered year-end with an order book below the prior-year level, making the margin-recovery narrative less certain until non-residential demand visibly picks up.
Valuation — source: SEC EDGAR (first-party)
Price$110.29
Market Cap$1.06B
P/E Ratio21.8
EV / EBITDA16.0
Price / Book2.54
Price / Sales1.85
FCF Yield4.4%
DCF Value (model)$54.92
DCF Upside vs Price-50.2%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$526.00M
Net Margin6.7%
Revenue Growth (YoY)19.7%
EPS Growth (YoY)80.2%
FCF Growth (YoY)410.9%
Financial Health — source: SEC EDGAR
Altman Z-Score5.69 (safe)
Piotroski F-Score8/9 (strong)
Valuation vs Sector & Industry
Stock P/E21.8
Sector P/E (Materials)24.3
Industry P/E (Steel Works)21.8
vs Sector-10.4%
vs Industry0.0%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderBlackRock, Inc. ($57.62M)
Institutional Holders Tracked10
Company
SectorMaterials
IndustrySteel Works
CEOScott J. Montross
Employees1,358
CountryUS
IPO Date1995-11-30

NWPX Infrastructure, Inc. earnings call transcripts

  • NWPX Q4 FY25 earnings call transcript (reported 2026-02-25) · analysis
  • NWPX Q2 FY25 earnings call transcript (reported 2025-08-07) · analysis

All NWPX earnings calls

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NWPX earnings history · NWPX institutional & insider holders · NWPX KPIs & operating metrics · NWPX financials · NWPX investor presentations & press releases · NWPX SEC filings · NWPX peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-09-03.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.