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.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $526M | $69M | $35M | $47M | 9.0% | 6.8% | 3.5% |
| 2024 | $493M | $67M | $34M | $34M | 9.1% | 10.8% | 62.3% |
| 2023 | $444M | $50M | $21M | $35M | 6.2% | -2.9% | -32.4% |
| 2022 | $458M | $62M | $31M | $-6M | 9.8% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 457.66 | 444.36 | 492.55 | 526 |
| Operating Revenue | - | 457.66 | 444.36 | 492.55 | 526 |
| Cost Of Revenue | - | 371.81 | 366.71 | 397.14 | 422.37 |
| Gross Profit | - | 85.86 | 77.64 | 95.40 | 103.64 |
| Operating Expense | - | 41.03 | 43.78 | 47.16 | 52.77 |
| Selling General And Administration | - | 41.03 | 43.78 | 47.16 | 52.77 |
| Total Expenses | - | 412.84 | 410.50 | 444.30 | 475.13 |
| Operating Income | - | 44.82 | 33.86 | 48.24 | 50.87 |
| Total Operating Income As Reported | - | 44.82 | 33.86 | 48.24 | 50.87 |
| EBITDA | - | 62.02 | 49.94 | 67.10 | 68.53 |
| Normalized EBITDA | - | 62.02 | 49.94 | 67.10 | 68.53 |
| EBIT | - | 44.92 | 34.13 | 48.03 | 49.09 |
| Interest Income | 0 | - | - | - | - |
| Interest Expense | - | 3.57 | 4.86 | 5.66 | 2.61 |
| Net Interest Income | - | -3.57 | -4.86 | -5.66 | -2.61 |
| Other Non Operating Income Expenses | - | 0.10 | 0.28 | -0.21 | -1.78 |
| Other Income Expense | - | 0.10 | 0.28 | -0.21 | -1.78 |
| Interest Income Non Operating | 0 | - | - | - | - |
| Interest Expense Non Operating | - | 3.57 | 4.86 | 5.66 | 2.61 |
| Net Non Operating Interest Income Expense | - | -3.57 | -4.86 | -5.66 | -2.61 |
| Pretax Income | - | 41.35 | 29.28 | 42.37 | 46.48 |
| Tax Provision | - | 10.20 | 8.21 | 8.16 | 11.07 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | 31.15 | 21.07 | 34.21 | 35.41 |
| Net Income From Continuing And Discontinued Operation | - | 31.15 | 21.07 | 34.21 | 35.41 |
| Net Income From Continuing Operation Net Minority Interest | - | 31.15 | 21.07 | 34.21 | 35.41 |
| Net Income | - | 31.15 | 21.07 | 34.21 | 35.41 |
| Net Income Common Stockholders | - | 31.15 | 21.07 | 34.21 | 35.41 |
| Net Income Including Noncontrolling Interests | - | 31.15 | 21.07 | 34.21 | 35.41 |
| Normalized Income | - | 31.15 | 21.07 | 34.21 | 35.41 |
| Diluted NI Availto Com Stockholders | - | 31.15 | 21.07 | 34.21 | 35.41 |
| Basic Average Shares | - | 9.91 | 9.99 | 9.92 | 9.77 |
| Diluted Average Shares | - | 10.01 | 10.08 | 10.07 | 9.94 |
| Reconciled Depreciation | - | 17.10 | 15.81 | 19.07 | 19.44 |
| Reconciled Cost Of Revenue | - | 371.81 | 366.71 | 397.14 | 422.37 |
Basic Materials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| NWPX Infrastructure, Inc.this co. | NWPX | $1.2B | 33.37 | 2.99 | 9.0% | 18.71 |
| Compass Minerals International, Inc. | CMP | $1.3B | -16.49 | 5.62 | -34.1% | 17.83 |
| United States Antimony Corporation | UAMY | $1.3B | -295.38 | 9.09 | -3.1% | -162.31 |
| Tronox Holdings plc | TROX | $1.2B | -2.65 | 0.88 | -33.1% | 211.38 |
| Oil-Dri Corporation of America | ODC |
| - |
| - |
| - |
| - |
| - |
| - |
| $1.2B |
| 32.68 |
| 5.78 |
| 17.7% |
| 17.88 |
| Stepan Company | SCL | $1.2B | 24.97 | 0.94 | 3.8% | 8.08 |
| Ramaco Resources, Inc. | METC | $1.1B | - | 2.30 | -10.6% | 82.52 |
| Green Plains Inc. | GPRE | $1.1B | -8.71 | 1.38 | -15.8% | 42.51 |
| ASP Isotopes Inc. | ASPI | $1.0B | - | 4.92 | -85.8% | - |
| Peer Median | - | -5.68 | 3.61 | -13.2% | 17.88 | |