NWPX Infrastructure, Inc.

Listed Company

NWPXCIK 0001001385NasdaqAcceleratedSteel Pipe & TubesOregonFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$35.41M

Total Assets

$579.63M

Equity

$394.78M

Shares Out

9.64M

Op. Cash Flow

$67.28M

Business

NWPX Infrastructure, Inc. is a manufacturer of water-related infrastructure products serving municipal, commercial, industrial, and utility customers. It offers engineered welded steel pressure pipe, bar-wrapped concrete cylinder pipe, proprietary Permalok® casing, precast and reinforced concrete products, pump lift stations, stormwater and wastewater treatment systems, fittings, and specialized pipeline components. The company operates two primary business segments: Engineered Steel Pressure Pipe (SPP) and Precast Infrastructure and Engineered Systems (Precast). Products are sold primarily through installation contractors bidding on projects for federal, state, and municipal agencies, private water companies, and developers across North America.

Summary from filing dated 2025-02-27

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	526	493	444	458	333
Cost of sales	422	397	367	372	289
Gross profit	104	95	78	86	44
Selling, general, and administrative expense	53	47	44	41	28
Operating income	51	48	34	45	16
Other income (loss)	−2	−213,000	276,000	97,000	328,000
Interest expense	−3	−6	−5	−4	−1
Income before income taxes	46	42	29	41	15
Income tax expense	11	8	8	10	4
Net income	35	34	21	31	12
Basic (in dollars per share)	3.62	3.45	2.11	3.14	1.17
Diluted (in dollars per share)	3.56	3.4	2.09	3.11	1.16
Basic (in shares)	10	10	10	10	10
Diluted (in shares)	10	10	10	10	10

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	2	5	4	4	3
Trade and other receivables, net of allowance of $528 and $242	78	67	48	72	53
Contract assets	91	103	121	122	107
Inventories	74	80	91	71	60
Prepaid expenses and other	6	7	9	11	6
Total current assets	251	262	272	279	228
Property, Plant and Equipment, Net	158	150	144	133	121
Operating lease right-of-use assets	87	88	88	93	99
Goodwill	56	56	56	56	54
Intangible assets, net	23	27	31	35	39
Other assets	5	6	7	6	7
Total assets	580	590	598	601	548
Current portion of long-term debt	3	3	0	11	0
Accounts payable	22	28	31	27	32
Accrued Liabilities, Current	28	28	28	31	24
Contract liabilities	9	11	21	17	3
Current portion of operating lease liabilities	5	5	5	5	5
Total current liabilities	67	75	96	91	64
Borrowings on line of credit	276,000	25	54	84	87
Long-term debt	8	11	0	—	—
Long-term lease liabilities (2)	86	86	85	89	94
Deferred income taxes	12	8	11	11	11
Other Liabilities, Noncurrent	11	10	11	8	9
Total liabilities	185	216	258	283	264
Commitments and contingencies (Note 14)	—	—	—	—	—
Preferred stock, $.01 par value, 10,000,000 shares authorized, none issued or outstanding	0	0	0	0	0
Common stock, $.01 par value, 15,000,000 shares authorized, 9,587,990 and 9,918,711 shares issued and outstanding as of December 31, 2025 and 2024, respectively	96,000	99,000	100,000	99,000	99,000
Additional paid-in-capital	113	128	129	128	125
Retained earnings	282	246	212	191	160
Accumulated other comprehensive loss	−143,000	−834,000	−960,000	−789,000	−2
Total stockholders equity	395	374	340	318	283
Total liabilities and stockholders equity	580	590	598	601	548

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 finance lease amortization	15	15	12	13	11
Amortization of intangible assets	4	4	4	4	2
Share-based compensation expense	6	5	4	4	3
Settlement loss on defined benefit plans	1	0	0	—	—
Noncash operating lease expense	6	6	6	—	—
Deferred income taxes	4	−5	−172,000	—	—
Gain on insurance proceeds	0	0	−466,000	0	0
Other, net	2	728,000	2	−286,000	193,000
Trade and other receivables	−12	−20	24	−19	392,000
Contract assets, net	10	7	5	225,000	−34
Inventories	5	11	−20	−11	−18
Prepaid expenses and other assets	2	2	−681,000	3	7
Accounts payable	−6	−3	5	−6	17
Accrued and other liabilities	−1	3	−2	−2	−7
Operating lease liabilities	−5	−5	−5	—	—
Net cash provided by operating activities	67	55	53	18	−6
Purchases of property and equipment	−20	−21	−18	−23	−13
Payment of working capital adjustment in acquisition of business	0	0	−3	0	0
Proceeds from insurance	0	0	431,000	0	0
Other investing activities	31,000	63,000	219,000	106,000	325,000
Net cash used in investing activities	−20	−21	−20	−23	−100
Borrowings on line of credit	156	171	155	178	122
Repayments on line of credit	−180	−201	−185	−181	−36
Borrowings on other debt	0	4	0	11	0
Payments on other debt	−3	−500,000	0	0	−14
Payments on finance lease liabilities	−2	−1	−826,000	−597,000	−415,000
Tax withholdings related to net share settlements of equity awards	−2	−1	−2	−853,000	−1
Repurchase of common stock	−18	−4	−707,000	0	0
Other financing activities	−146,000	−15,000	−300,000	−47,000	−385,000
Net cash used in financing activities	−50	−33	−33	6	71
Change in cash and cash equivalents	−3	939,000	387,000	684,000	−35
Cash paid during the period for interest, net of amounts capitalized	2	6	5	3	339,000
Federal	8	8	4	—	—
Foreign	319,000	318,000	226,000	—	—
Accrued property and equipment purchases	1	872,000	656,000	1	788,000
Accrued payment for repurchase of common stock	222,000	0	128,000	0	0
Right-of-use assets obtained in exchange for finance lease liabilities	2	1	5	1	853,000
Right-of-use assets obtained in exchange for operating lease liabilities	5	6	952,000	568,000	16

Filings

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