Nwpx Infrastructure, Inc. (NWPX) intrinsic value & 10-year financials
Nwpx Infrastructure, Inc. (NWPX) has a Graham intrinsic value of $74.70 per share. At $97.61 on Oct 17, 2026, the stock trades 31% above that value. Over the last 10 fiscal years revenue grew 15.0% a year to $526.0M, with an average return on invested capital of 4.3%.
- Graham intrinsic value
- $74.70
- Share price (Oct 17, 2026)
- $97.61
- Price vs Graham value
- 31% above
- Market cap
- $970.0M
- Revenue (FY2025)
- $526.0M
- Revenue growth (10-yr CAGR)
- 15.0%
- ROIC (10-yr avg)
- 4.3%
- Free cash flow (FY2025)
- $47.1M
NWPX 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $526.0M | $35.4M | $3.56 | $47.1M | 9.7% | 8.0% |
| FY2024 | $492.5M | $34.2M | $3.40 | $34.3M | 9.8% | 8.6% |
| FY2023 | $444.4M | $21.1M | $2.09 | $35.2M | 7.6% | 5.8% |
| FY2022 | $457.7M | $31.1M | $3.11 | -$5.3M | 9.8% | 8.6% |
| FY2021 | $333.3M | $11.5M | $1.16 | -$19.1M | 4.8% | 3.8% |
| FY2020 | $285.9M | $19.1M | $1.93 | $42.1M | 8.9% | 7.6% |
| FY2019 | $279.3M | $27.9M | $2.85 | $34.3M | 10.3% | 11.0% |
| FY2018 | $172.1M | $20.3M | $2.09 | -$22.2M | -1.7% | -1.4% |
| FY2017 | $132.8M | -$10.2M | -$1.06 | -$10.4M | -6.9% | -4.1% |
| FY2016 | $149.4M | -$9.3M | -$0.97 | -$773.0K | -9.1% | -4.3% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
NWPX Infrastructure, Inc. is a consistent compounder, expanding top-line revenue at 15.0% annually over the past decade.
NWPX Infrastructure, Inc. has historically struggled to out-earn its cost of capital, averaging just 4.4% ROIC.
NWPX Infrastructure, 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, NWPX Infrastructure, Inc. is modeled at 7.9% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $74.70 per share.