Nacco Industries Inc. (NC) intrinsic value & 10-year financials

Nacco Industries Inc. (NC) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue shrank 11.8% a year to $277.2M, with an average return on invested capital of 11.4%.

Graham intrinsic value
—
Share price (Oct 17, 2026)
$34.28
Market cap
$256.4M
Revenue (FY2025)
$277.2M
Revenue growth (10-yr CAGR)
-11.8%
ROIC (10-yr avg)
11.4%
Free cash flow (FY2025)
$2.3M

NC 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 $277.2M $17.6M $2.35 $2.3M 7.9% 4.7%
FY2024 $237.7M $33.7M $4.55 -$32.4M 15.0% 9.4%
FY2023 $214.8M -$39.6M -$5.29 $9.1M -32.7% -13.3%
FY2022 $241.7M $74.2M $10.06 $25.2M 29.0% 19.2%
FY2021 $191.8M $48.1M $6.69 $35.6M 28.9% 18.0%
FY2020 $128.4M $14.8M $2.10 -$32.7M 10.5% 6.4%
FY2019 $141.0M $39.6M $5.66 $28.1M 27.5% 19.9%
FY2018 $135.4M $34.8M $5.00 $33.7M 32.2% 21.6%
FY2017 $104.8M $30.3M $4.41 $25.6M 31.3% 14.8%
FY2016 $856.4M $29.6M $4.32 $77.8M 4.9% 13.1%

Source: annual 10-K filings on SEC EDGAR. Figures in USD.

Executive summary

NACCO INDUSTRIES INC is facing top-line stagnation, with revenue contracting over the decade.

NACCO INDUSTRIES INC returns on capital have been average, hovering around 11.4% ROIC over the decade.

NACCO INDUSTRIES INC has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.

Benjamin Graham lens

Under Benjamin Graham's formula using SEC EDGAR fundamentals, NACCO INDUSTRIES INC is modeled at -6.5% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-9.29 per share.

NC stock: frequently asked questions

What is the intrinsic value of Nacco Industries Inc. (NC) stock?

Graham's formula only works with positive earnings. Nacco Industries Inc. reported diluted EPS of $2.35 in fiscal 2025, so no Graham value is shown. The 10-year table shows revenue and cash-flow trends instead.

How fast has Nacco Industries Inc. grown?

Revenue went from $856.4M in fiscal 2016 to $277.2M in fiscal 2025, a compound annual growth rate of -11.8%. Net income was $17.6M in fiscal 2025.

Does Nacco Industries Inc. generate free cash flow?

Nacco Industries Inc. generated $2.3M of free cash flow (operating cash flow minus capital expenditures) in fiscal 2025. Free cash flow was positive in 8 of the last 10 reported years.

What is NC's return on invested capital?

Average ROIC over the last 10 fiscal years was 11.4%, and average return on equity was 9.8%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this NC data come from?

From Nacco Industries Inc.'s annual 10-K filings on SEC EDGAR. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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