NL INDUSTRIES INC

Listed Company

NLCIK 0000072162NYSENon-AcceleratedIndustrial Inorganic ChemicalsNew JerseyFY ends Dec 31

Period

FY 2025

Revenue

$158.28M

Net Income

$-37.83M

Total Assets

$464.22M

Equity

$358.77M

Shares Out

48.86M

Op. Cash Flow

$-36.40M

Business

NL INDUSTRIES INC is primarily a holding company that conducts operating activities through its majority-owned subsidiary CompX International Inc. and a noncontrolling equity interest in Kronos Worldwide, Inc. CompX manufactures engineered component products including mechanical and electronic cabinet locks, marine components, and related hardware, while Kronos produces and markets titanium dioxide pigments and complementary chemical co‑products. The company’s key business segments are Component Products (CompX) and Chemicals (Kronos). Its products are sold principally through North American OEM and distributor channels for CompX and through Kronos’s global direct sales force, agents and distributors across Europe, North America and the Asia Pacific region.

Summary from filing dated 2025-03-06

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	158	146	161	167	141
Cost of sales	110	105	112	118	98
Gross margin	48	41	49	49	43
Selling, general and administrative expense	26	24	24	23	22
Insurance recoveries	—	1	464,000	93,000	71,000
Corporate income (expense), net	12	−19	12	−12	—
Income from operations	11	38	14	14	10
Equity in earnings (losses) of Kronos Worldwide, Inc.	−34	26	−15	32	34
Interest and dividend income	7	11	10	4	2
Marketable equity securities	−14	10	−8	−8	16
Settlement loss on pension plan termination and buy-out	−20	—	−5	—	—
Other components of net periodic pension and OPEB cost	−1	−1	−1	−1	−665,000
Interest expense	−767,000	−530,000	−746,000	−941,000	—
Income (loss) before income taxes	−51	83	−6	39	61
Income tax expense (benefit)	−16	14	−7	3	7
Net income (loss)	−35	69	582,000	36	53
Noncontrolling interest in net income of subsidiary	2	2	3	3	2
Net income (loss) attributable to NL stockholders	−38	67	−2	34	51
Basic net income (loss) per share	−0.77	1.38	−0.05	0.69	1.05
Diluted net income (loss) per share	−0.77	1.38	−0.05	0.69	1.05
Weighted average shares used in the calculation of net income (loss) per share - basic	49	49	49	49	49
Weighted average shares used in the calculation of net income (loss) per share - diluted	49	49	49	49	49

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	111	163	112	69	147
Restricted cash and cash equivalents	3	21	3	3	3
Accounts and other receivables, net	14	24	17	18	16
Inventories, net	30	28	31	31	26
Prepaid expenses and other	2	2	2	2	3
Total current assets	160	238	218	194	194
Restricted cash and cash equivalents	315,000	491,000	27	26	25
Note receivable from affiliate	8	9	11	13	—
Marketable securities	14	28	18	26	34
Investment in Kronos Worldwide, Inc.	230	250	248	292	265
Goodwill	27	27	27	27	27
Other assets, net	616,000	1	2	3	3
Total other assets	281	316	333	387	373
Land	5	5	5	5	5
Buildings	24	23	23	23	23
Equipment	78	76	74	74	71
Construction in progress	477,000	589,000	676,000	722,000	2
Property and equipment, gross	108	105	104	103	101
Less accumulated depreciation	84	81	78	75	72
Net property and equipment	24	24	26	29	29
Total assets	464	578	577	610	596
Accounts payable	3	4	3	4	3
Accrued litigation settlement	—	16	12	12	12
Accrued and other current liabilities	15	12	13	13	12
Accrued environmental remediation and related costs	2	58	2	3	3
Payables to affiliates	791,000	706,000	634,000	665,000	—
Total current liabilities	21	91	30	32	31
Long-term debt from affiliate	500,000	500,000	500,000	500,000	—
Accrued environmental remediation and related costs	11	11	89	90	90
Deferred income taxes	54	53	42	50	44
Other	1	6	5	4	3
Total noncurrent liabilities	67	71	154	175	181
Preferred stock, no par value; 5,000 shares authorized; none issued	—	—	—	—	—
Common stock; $.125 par value; 150,000 shares authorized; 48,848 and 48,863 shares issued and outstanding	6	6	6	6	6
Additional paid-in capital	299	299	299	299	300
Retained earnings	249	315	284	300	297
Accumulated other comprehensive loss	−196	−223	−220	−223	−241
Total NL stockholders' equity	359	397	370	382	362
Noncontrolling interest in subsidiary	18	19	22	21	23
Total equity	377	416	392	403	385
Total liabilities and equity	464	578	577	610	596
Commitments and contingencies (Notes 14 and 17)	—	—	—	—	—

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	4	4	4	4	4
Deferred income taxes	−16	14	−7	2	7
Dividends received from Kronos Worldwide, Inc.	7	17	27	27	25
Benefit plan expense greater than cash funding	31,000	397,000	461,000	130,000	−220,000
Noncash interest income	—	−817,000	−4	−267,000	—
Noncash interest expense	236,000	479,000	695,000	908,000	1
Other, net	374,000	217,000	247,000	−21,000	−31,000
Accounts and other receivables, net	10	−7	754,000	−2	−4
Inventories, net	−2	2	333,000	−6	−7
Prepaid expenses and other	188,000	82,000	42,000	353,000	−991,000
Accounts payable and accrued liabilities	−16	−13	−13	−10	−9
Accounts with affiliates	88,000	700,000	578,000	−662,000	279,000
Accrued environmental remediation and related costs	−56	−22	−1	−582,000	−476,000
Other noncurrent assets and liabilities, net	975,000	−3	−723,000	−125,000	−171,000
Net cash provided by (used in) operating activities	−36	26	37	27	18
Capital expenditures	−4	−1	−1	−4	−4
Purchases	—	—	−61	−70	—
Proceeds from maturities	—	54	82	—	—
Collections	17	26	31	30	41
Loans	−16	−25	−28	−24	−30
Proceeds from land sale	—	5	—	—	—
Other, net	10,000	—	—	284,000	2,000
Net cash provided by (used in) investing activities	−2	59	22	−68	7
Dividends paid	−28	−37	−14	−31	−12
Dividends paid to noncontrolling interests in subsidiary	−3	−5	−2	−4	−1
Net cash used in financing activities	−31	−42	−15	−37	−14
Operating, investing and financing activities	−70	43	44	−78	10
Interest	531,000	51,000	50,000	34,000	26,000
Income taxes, net	100,000	100,000	−300,000	1	0
Change in accruals for capital expenditures	−412,000	423,000	23,000	−49,000	—

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