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NWPX Infrastructure, Inc.(NWPX)

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ADVISORIES YOU CAN VERIFY
QUALITY SIGNAL
3-STAR RATING
PASS
LAST CLOSE
$102.83
09/25/2026
(24-hour delay)

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*as per simulation (see disclosures)
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Upturn Advisory & Investor View for NWPX

09/25/2026: NWPX (3-star) is currently NOT-A-BUY. Pass it for now.

NWPX Infrastructure, Inc. is a leading North American manufacturer of critical water infrastructure products, including engineered steel pipe and precast concrete systems. The company has successfully evolved from a traditional pipe maker into a diversified water-solutions provider, bolstered by strategic acquisitions like Geneva Pipe. Its primary growth story is driven by the long-term, secular need for U.S. municipal water system modernization. Investors should monitor execution risks tied to project-based revenue and sensitivity to steel costs. While the stock has seen significant recent appreciation, it remains a strong candidate for growth-oriented investors looking for exposure to essential infrastructure spending, though it lacks the dividend yield favored by income-focused portfolios.

How to Read the Upturn Advisory

The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.

Company fundamentals, valuation, risks, and news provide supporting context about the business.

Investor Fit

Investor styleFitWhy
Growth investorStrong fitNWPX benefits from secular trends in U.S. water infrastructure modernization.
Momentum investorStrong fit while signal remains positiveThe stock has shown significant recent price appreciation, trending with infrastructure sector momentum.
Value investorMixed fitValuation has become more demanding following a sharp 12-month share price rally.
Dividend investorWeak fitThe company does not provide a reliable dividend, favoring capital reinvestment.
Low-risk investorMixed fitInfrastructure projects carry execution and economic cyclicality risks.

Risk Profile

Risk factorLevelWhy it matters
Price volatilityMedium / highThe stock has experienced significant percentage moves, reflecting its project-driven business model.
Valuation riskMediumRecent strong performance necessitates careful monitoring of P/E multiples relative to earnings.
Competition risk (Infrastructure)MediumNWPX faces regional competitive pressures in the precast segment from localized players.
Business qualityMedium / highThe company has a solid, long-standing operational history in a critical industry.
Dividend incomeLow / noneIncome-focused investors will not find dividend support here.
Execution riskMediumDelivering large-scale, customized pipe projects involves complex manufacturing and logistical coordination.

Price Behavior

Rolling Over
PRICE PATH

Rolling Over

The price momentum is slowing down and beginning to turn downward.

Moderately Choppy
PRICE STABILITY

Moderately Choppy

The stock has experienced noticeable price swings while retaining some directional structure.

Analysis of Past Performance

Type Stock
Historic Profit 131.8%
Avg. Invested days 44
Today’s Advisory PASS
Upturn Advisory Rating upturn star rating icon
Upturn Advisory Performance Upturn Advisory Performance icon 4.0
Stock Returns Performance Upturn Returns Performance icon 5.0
Upturn Profits based on simulation icon Profits based on simulation
Upturn last close icon Last Close 09/25/2026

Upturn Scorecard

Upturn Star Rating

★★★★★
NWPX receives a 3-star rating, supported by solid company fundamentals. The rating is constrained by weak price momentum, and limited analyst upside.

Company Fundamentals

★★★★★
NWPX has solid overall fundamentals (4 stars), with moderate financial health, solid growth momentum, and solid ownership. In FY2025 versus FY2024, moderate earnings growth (+3.5%) and solid cash generation (FCF margin 9.0%) are partially offset by moderate revenue growth (+6.8%), soft profitability (net margin 6.7%), modest insider ownership of 2.91%.

Financial Health Rating

★★★★★
NWPX's financial health is supported by solid liquidity, including working-capital and asset support (WC/assets 31.9%). Profitability is soft (2 stars), which helps explain the 3-star overall score.

Growth Momentum Score

★★★★★
Free-cash-flow growth is NWPX's strongest growth driver at +37.5% FY2025 versus FY2024 (strong, 5 stars). By comparison, while revenue growth (+6.8%, moderate) and earnings growth (+3.5%, moderate) hold the profile back, so recent growth is not broad-based across the business.

Ownership

★★★★★
Institutional ownership is 93.0% and approximately 96.9% of outstanding shares are publicly tradable, supporting liquidity and institutional participation. Insider ownership of 2.91% provides only moderate management-shareholder alignment.

Top 5 Institutional Investors

BlackRock Inc 7.68%
Dimensional Fund Advisors, Inc. 6.59%
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 5.63%
Vanguard Capital Management, LLC 4.23%
Royce & Associates, LP 4.20%

Unit Economics (Per $1K Revenue)

★★★★★
NWPX generates approximately $197 of gross profit, $97 of operating income, and $90 of free cash flow for every $1,000 of revenue. Based on FY2025 results. Strong cash conversion and healthy margins support the rating, although capital efficiency remains below the highest tier.

Economic Dimensions

★★★★★
Effective Tax Rate: 23.81%

Quantitative Style Profile

★★★★★
NWPX has a high-quality, liquid profile. Weak momentum is the primary drawback.

Style Classification

Quality Focused

Value-OrientedQuality TiltSmall / Mid Cap RiskShort Squeeze RiskHighly Liquid / Institution-Friendly

Key Highlights

Company Size Small-Cap Stock
Market Capitalization 990.99M USD
Price to earnings Ratio 20.73
1Y Target Price 111
Price to earnings Ratio 20.73
1Y Target Price 111
Volume (30-day avg) 139.3K shares
Beta 1.1
52 Weeks Range 49.25 - 152.03
Updated Date 09/26/2026
52 Weeks Range 49.25 - 152.03
Updated Date 09/26/2026
Dividends yield (FY) -
Basic EPS (TTM) 4.96

How Company Makes Money

Business areaWhat it includesRetail investor read
Water Transmission Systems (WTS)Large-diameter steel pressure pipe and fittings for major water projects.The company's bread-and-butter; revenue from massive, long-term municipal water projects.
Precast InfrastructureStandardized concrete infrastructure products like manholes and culverts.A steady, repeat-revenue business tied to local land and site development.

Analyzing Revenue: Products, Geography and Growth

Revenue by Products

Product revenue - Year on Year

Revenue by Geography

Geography revenue - Year on Year

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Valuation

Trailing PE 20.73
Forward PE 20.04
Enterprise Value 1.07B
Price to Sales(TTM) 1.73
Enterprise Value 1.07B
Price to Sales(TTM) 1.73
Enterprise Value to Revenue 1.86
Enterprise Value to EBITDA 12.52
Shares Outstanding 9.64M
Shares Floating 9.34M
Shares Outstanding 9.64M
Shares Floating 9.34M
Percent Insiders 2.91
Percent Institutions 92.97

Icon representing Upturn AI-generated SWOT analysis summary Upturn AI Summary

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Financial Metrics

🧭 Investment Snapshot

Total Revenue (Scale)

Information icon Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.

Net Income (Profit)

Information icon Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.

Free Cash Flow (Cash Strength)

Information icon Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.

📈 Growth & Strength

Operating Income (Core Profit)

Information icon Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.

EBITDA (Cash Earnings)

Information icon Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.

Gross Profit (Unit Profitability)

Information icon Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.

🛡️ Financial Safety

Cash (Liquidity Buffer)

Information icon Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.

Total Debt (Leverage Risk)

Information icon Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.

Net Working Capital (Short-Term Health)

Information icon Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.

🧱 Balance Sheet Strength

Stockholder Equity (Net Worth)

Information icon Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.

Total Assets (Asset Base)

Information icon The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.

Income Before Tax (Pre-Tax Earnings)

Information icon Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.

⚙️ Cost & Drag Factors

Cost of Revenue (Production Cost)

Information icon Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.

Total Operating Expenses (Operating Cost)

Information icon Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.

Income Tax Expense (Tax Drag)

Information icon Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.

About NWPX Infrastructure, Inc.

Exchange NASDAQ
Headquarters Vancouver, WA, United States
IPO Launch date 1995-11-30
President, CEO & Director Mr. Scott J. Montross
Sector Basic Materials
Industry Steel
Full time employees 1318
Full time employees 1318

NWPX Infrastructure, Inc., together with its subsidiaries, manufactures and sells water-related infrastructure products in the United States and Canada. 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.