Latest Ratios: P/E Ratio 38.0x · EV/EBITDA 19.9x · 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 | $1.3B | $621M | $486M | $305M | $337M | $316M | $279M | $326M | $227M | $184M | $165M |
| Enterprise Value | $1.4B | $721M | $617M | $464M | $522M | $505M | $287M | $303M | $233M | $141M | $144M |
| P/E Ratio → | 38.04 | 17.55 | 14.19 | 14.48 | 10.84 | 27.41 | 14.66 | 11.69 | 11.14 | — | — |
| P/S Ratio | 2.48 | 1.18 | 0.99 | 0.69 | 0.74 | 0.95 | 0.98 | 1.17 | 1.32 | 1.39 | 1.06 |
| P/B Ratio | 3.41 | 1.57 | 1.30 | 0.90 | 1.06 | 1.11 | 1.04 | 1.31 | 1.04 | 0.92 | 0.79 |
| P/FCF | 27.70 | 13.18 | 14.18 | 8.68 | — | — | 6.69 | 9.50 | — | — | — |
| P/OCF | 19.39 | 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 | 19.94 | 10.24 | 9.17 | 9.34 | 8.44 | 17.02 | — | — | 36.67 | — | — |
| EV / EBIT | 27.54 | 14.14 | 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 | 19.22 | 19.22 | 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 | 2.6% | 5.7% | 7.0% | 6.9% | 9.2% | 3.6% | 6.8% | 8.6% | 9.0% | — | — |
| FCF Yield | 3.6% | 7.6% | 7.1% | 11.5% | — | — | 14.9% | 10.5% | — | — | — |
| Buyback Yield | 1.4% | 3.0% | 0.9% | 0.2% | 0.3% | 0.0% | 0.2% | 0.0% | 0.6% | 0.0% | 0.0% |
| Total Shareholder Yield | 1.4% | 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 |
Tight liquidity and seasonality
According to current market data, NWPX trades at a TTM P/E of 41.58, which appears elevated compared to industrial peers, suggesting that investors may be pricing in aggressive growth expectations that remain inconsistent with the company's historical earnings volatility and project-based revenue recognition patterns.
The forward P/E of 29.76 and PEG ratio of 3.19 indicate that the market is assigning a premium to the company's transition toward proprietary precast technologies. However, this valuation warrants caution as it assumes a level of earnings stability that the underlying municipal infrastructure business model has yet to consistently demonstrate.
Based on reported financial figures, NWPX's ROIC has hovered between 0.8% and 2.8% over the last ten quarters, indicating that the company is currently struggling to generate returns on invested capital that meaningfully exceed its likely cost of capital in this capital-intensive manufacturing environment.
The low ROIC trend suggests that the heavy investment in specialized fabrication facilities is not yet yielding the expected margin expansion. Investors should monitor whether the recent strategic pivot to higher-margin precast systems can drive a sustained improvement in capital efficiency over the coming fiscal years.
As reported in quarterly filings, the company's cash conversion cycle remains elevated, peaking at 207 days in 2024Q1, which highlights the significant working capital burden inherent in managing large-diameter pipe projects and the resulting pressure on the firm's overall operational efficiency and cash flow.
The persistent DSO levels, often exceeding 120 days, suggest that NWPX faces structural delays in collecting payments from municipal clients. This inefficiency forces the company to maintain higher working capital balances, which directly competes with the liquidity needed for strategic growth initiatives or debt service.
According to recent balance sheet data, NWPX has successfully reduced its debt-to-equity ratio to 0.25 as of 2026Q1, demonstrating a disciplined approach to capital structure that contrasts sharply with the company's precarious cash position of only $2.27 million reported in the most recent period.
While the reduction in leverage is a positive signal for long-term solvency, the extremely low cash balance suggests that the company has little room for error. The interest coverage ratio, while currently appearing comfortable, may become volatile if project delays lead to temporary cash flow shortfalls.
Based on an analysis of the company's business model, the P/E ratio is a fundamentally flawed metric for NWPX because it fails to account for the lumpy, project-based nature of revenue recognition and the significant non-cash amortization charges resulting from recent strategic acquisitions like ParkUSA.
Investors should instead focus on EV/EBITDA or cash-flow-based metrics to better capture the underlying earning power of the business. Relying on P/E likely obscures the true cash-generative capacity of the precast segment and leads to an inaccurate assessment of the company's valuation relative to its peers.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying NWPX stock.
NWPX Infrastructure, Inc.'s current P/E ratio is 38.0x. 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 19.9x. 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 38.0x. 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.