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% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 457.67 | 444.36 | 492.55 | 526 |
| Cost Of Revenue | 371.81 | 366.71 | 397.14 | 422.37 |
| Gross Profit | 85.86 | 77.64 | 95.41 | 103.64 |
| Operating Expense | 41.03 | 43.78 | 47.16 | 52.77 |
| Operating Income | 44.82 | 33.86 | 48.24 | 50.87 |
| EBITDA | 62.02 | 49.94 | 67.10 | 68.53 |
| EBIT | 44.92 | 34.13 | 48.03 | 49.09 |
| Pretax Income | 41.35 | 29.28 | 42.37 | 46.48 |
| Tax Provision | 10.20 | 8.21 | 8.16 | 11.07 |
| Net Income | 31.15 | 21.07 | 34.21 | 35.41 |
| Net Income Common Stockholders | 31.15 | 21.07 | 34.21 | 35.41 |
| Total Expenses | 412.84 | 410.50 | 444.30 | 475.13 |
| Interest Expense | 3.57 | 4.86 | 5.66 | 2.61 |
| Interest Income | 0 | 0 | 0 | 0 |
| Selling General And Administration | 41.03 | 43.78 | 47.16 | 52.77 |
| Normalized EBITDA | 62.02 | 49.94 | 67.10 | 68.53 |
| Normalized Income | 31.15 | 21.07 | 34.21 | 35.41 |
| Basic EPS | 3.14 | 2.11 | 3.45 | 3.62 |
| Diluted EPS | 3.11 | 2.09 | 3.40 | 3.56 |
| Tax Effect Of Unusual Items | 0 | 0 | 0 | 0 |
| Tax Rate For Calcs | 0.25 | 0.28 | 0.19 | 0.24 |
| Net Income From Continuing Operation Net Minority Interest | 31.15 | 21.07 | 34.21 | 35.41 |
| Reconciled Depreciation | 17.10 | 15.81 | 19.07 | 19.44 |
| Reconciled Cost Of Revenue | 371.81 | 366.71 | 397.14 | 422.37 |
| Net Interest Income | -3.57 | -4.86 | -5.66 | -2.61 |
| Net Income From Continuing And Discontinued Operation | 31.15 | 21.07 | 34.21 | 35.41 |
| Total Operating Income As Reported | 44.82 | 33.86 | 48.24 | 50.87 |
| Diluted Average Shares | 10.01 | 10.08 | 10.07 | 9.94 |
| Basic Average Shares | 9.91 | 9.99 | 9.92 | 9.77 |
| Diluted NI Availto Com Stockholders | 31.15 | 21.07 | 34.21 | 35.41 |
| Net Income Including Noncontrolling Interests | 31.15 | 21.07 | 34.21 | 35.41 |
| Net Income Continuous Operations | 31.15 | 21.07 | 34.21 | 35.41 |
| Other Income Expense | 0.10 | 0.28 | -0.21 | -1.78 |
| Other Non Operating Income Expenses | 0.10 | 0.28 | -0.21 | -1.78 |
| Net Non Operating Interest Income Expense | -3.57 | -4.86 | -5.66 | -2.61 |
| Interest Expense Non Operating | 3.57 | 4.86 | 5.66 | 2.61 |
| Interest Income Non Operating | 0 | 0 | 0 | 0 |
| Operating Revenue | 457.67 | 444.36 | 492.55 | 526 |
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 | $829M | 24.16β premium | 2.09 | 9.0% | 13.51 |
| Ramaco Resources, Inc. | METC | $956M | - | 2.00 | -10.6% | 72.74 |
| Ferroglobe PLC | GSM | $839M | - | 1.41 | -24.7% | -28.41 |
| Kronos Worldwide, Inc. | KRO | $826M | - | 1.10 | -14.8% | 81.56 |
| Koppers Holdings Inc. | KOP | $798M |
| 13.91 |
| 1.36 |
| 9.8% |
| 7.98 |
| Dakota Gold Corp. | DC | $708M | - | 5.38 | -26.3% | -22.19 |
| Contango Silver & Gold Inc. | CTGO | $668M | - | 12.73 | -143.8% | -17.00 |
| AdvanSix Inc. | ASIX | $657M | 13.58 | 0.81 | 6.0% | 7.29 |
| Rayonier Advanced Materials Inc. | RYAM | $633M | - | 1.99 | -128.8% | 9.78 |
| Peer Median | - | 13.74 | 1.70 | -19.7% | 7.63 | |