NORTHERN TECHNOLOGIES INTERNATIONAL CORP

Listed Company

NTICCIK 0000875582NasdaqNon-AcceleratedSmaller ReportingCoating, Engraving & Allied ServicesDelawareFY ends Aug 31

Period

FY 2025

Revenue

$84.23M

Net Income

$17.6K

Total Assets

$102.75M

Equity

$72.15M

Shares Out

9.49M

Op. Cash Flow

$2.44M

Business

NORTHERN TECHNOLOGIES INTERNATIONAL CORP develops and markets proprietary, environmentally beneficial materials science products and services focused on corrosion prevention and sustainable bioplastics. It offers ZERUST® rust and corrosion inhibiting products and services — including packaging, liquids, coatings, rust removers, diffusers, engineered oil and gas solutions, and technical consulting — and Natur-Tec® bio-based, compostable resin compounds and finished bioplastic products. The company operates through two reportable business segments: ZERUST® corrosion prevention solutions and Natur-Tec® resin compounds and finished products. NTIC sells globally through subsidiaries, joint ventures, independent distributors, agents, and a direct sales force across multiple regions and industry channels.

Summary from filing dated 2025-11-20

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-08-31	FY 2024 2024-08-31	FY 2023 2023-08-31	FY 2022 2022-08-31	FY 2021 2021-08-31
Net sales	84	85	80	74	56
Cost of goods sold	53	51	52	51	37
Gross profit	32	34	28	23	20
Equity in income from joint ventures	4	4	6	5	7
Fees for services provided to joint ventures	5	5	5	6	6
Total joint venture operations	9	9	12	10	13
Selling expenses	18	16	15	13	12
General and administrative expenses	15	14	13	11	8
Research and development expenses	5	5	5	5	4
Total operating expenses	38	35	33	28	25
OPERATING INCOME	3	8	6	5	8
INTEREST INCOME	308,054	118,827	28,490	49,241	151,875
INTEREST EXPENSE	−599,927	−340,129	—	—	—
OTHER INCOME	1	0	—	—	—
OTHER EXPENSE	−386,785	0	—	—	—
INCOME BEFORE INCOME TAX EXPENSE	3	8	6	9	8
INCOME TAX EXPENSE	2	1	1	2	1
NET INCOME	986,393	6	4	7	7
NET INCOME ATTRIBUTABLE TO NON-CONTROLLING INTERESTS	968,774	912,302	1	861,234	715,499
NET INCOME ATTRIBUTABLE TO NTIC	17,619	5	3	6	6
Basic (in dollars per share)	0	0.57	0.31	0.69	0.69
Diluted (in dollars per share)	0	0.55	0.3	0.66	0.64
Basic (in shares)	9	9	9	9	9
Diluted (in shares)	10	10	10	10	10
CASH DIVIDENDS DECLARED PER COMMON SHARE (in dollars per share)	0.16	0.28	0.28	0.28	0.2

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-08-31	FY 2024 2024-08-31	FY 2023 2023-08-31	FY 2022 2022-08-31	FY 2021 2021-08-31
Cash and cash equivalents	7	5	5	5	8
Trade, less allowance for credit losses of $235,000 and $310,000 as of August 31, 2025 and 2024	18	19	16	14	11
Fees for services provided to joint ventures	1	1	1	2	2
Income taxes	340,002	392,293	325,233	0	386,574
Inventories, net	16	14	13	—	—
Prepaid expenses	2	1	2	2	1
Total current assets	44	42	40	40	34
PROPERTY AND EQUIPMENT, NET	15	16	14	12	12
Investments in joint ventures	29	25	24	22	28
Deferred income tax, net	503,575	544,464	530,944	0	92,554
Intangible assets, net	9	6	6	7	709,572
Goodwill	5	5	5	5	0
Operating lease right of use assets	493,050	424,558	428,874	557,571	376,438
Total other assets	43	37	36	34	29
Total assets	103	95	89	86	74
Line of credit	9	4	4	6	0
Term loan, current portion	3	3	3	0	—
Accounts payable	8	6	6	8	4
Income taxes payable	414,304	327,781	501,379	30,742	178,923
Payroll and related benefits	2	3	2	2	3
Other	1	574,876	1	667,292	894,497
Current portion of operating leases	344,739	325,116	340,799	373,330	272,336
Total current liabilities	24	18	17	17	9
Deferred income tax, net	2	2	2	2	0
Term loans, noncurrent portion	466,984	0	—	—	—
Operating leases, less current portion	148,311	99,442	88,075	184,241	104,102
Total long-term liabilities	2	2	2	2	104,102
Commitments and Contingencies	—	—	—	—	—
Preferred stock, no par value; authorized 10,000 shares; none issued and outstanding	0	0	0	0	0
Common stock, $0.02 par value per share; authorized 15,000,000 shares; issued and outstanding 9,475,490 and 9,466,976, as of August 31, 2025 and 2024, respectively	189,510	189,340	188,482	184,650	183,696
Additional paid-in capital	25	24	22	20	19
Retained earnings	52	54	51	51	47
Accumulated other comprehensive loss	−5	−6	−7	−7	−4
Stockholders equity	72	71	66	64	62
Non-controlling interests	5	4	4	4	3
Total equity	77	75	71	67	66
Total liabilities and equity	103	95	89	86	74

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-08-31	FY 2024 2024-08-31	FY 2023 2023-08-31	FY 2022 2022-08-31	FY 2021 2021-08-31
Stock-based compensation	1	1	1	931,532	664,174
Depreciation expense	979,981	1	1	938,489	905,299
Amortization expense	777,289	596,700	588,454	629,843	203,088
Loss on disposal of property and equipment	77,984	0	8,534	0	—
Change in allowance for credit losses	−75,000	−233,539	94,000	57,000	262,000
Dividends received from joint ventures	2	3	6	6	4
Deferred income taxes	50,984	−336,252	−395,001	−81,500	114,620
Trade	941,732	−3	—	—	—
Fees for services provided to joint ventures	157,463	61,578	468,523	−259,550	−577,841
Dividends receivable from joint venture	0	2	2	0	—
Income taxes	−418	−311,731	−325,233	284,025	−362,438
Inventories, net	−1	−1	3	−5	58,314
Prepaid expenses and other	−300,058	308,064	287,970	3,111	−487,771
Accounts payable	1	449,009	−2	3	866,597
Income tax payable	109,712	−151,720	−504,403	−493,091	−160,231
Accrued liabilities	−846,105	232,290	1	−1	1
Net cash provided by operating activities	2	6	6	1	3
Purchases of property and equipment	−2	−2	−3	−1	−6
Proceeds from sale of property and equipment	20,000	0	13,000	0	0
Investments in patents and capitalized software costs	−2	−2	−114,062	−207,149	−110,654
Net cash used in investing activities	−4	−3	−3	−7	−103,316
Dividend received by non-controlling interest	−280,000	−1	−655,574	−402,729	−400,000
Repayments of line of credit	−27	−37	2	0	—
Proceeds from issuance of long-term debt	538,090	0	—	—	—
Proceeds from line of credit	32	38	0	6	0
Dividends paid on NTIC common stock	−2	−3	−3	−3	−2
Proceeds from employee stock purchase plan	81,496	79,967	75,464	73,645	74,333
Proceeds from exercise of stock options	0	168,519	638,270	198,640	584,414
Net cash provided by (used in) financing activities	4	−3	−2	3	−2
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	−75,931	38,326	−72,014	426,968	10,194
NET INCREASE IN CASH AND CASH EQUIVALENTS	2	−453,989	72,283	−2	1

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