NWPX Infrastructure Inc. Common Stock (NWPX)

FairStock Score: 41/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

Mr. Market is offering NWPX at $99.43 as of the close on 2026-10-13, a $958.2M market value. The company makes large-diameter steel water pipelines and precast infrastructure products—boring but necessary. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $159.5M and net income $15.8M, or $1.62 per diluted share, versus revenue of $133.2M and net income of $9.1M, or $0.91 per share, in fiscal Q2 2025. That is strong year-over-year growth. Full-year fiscal 2025, ended 2025-12-31, produced $526.0M of revenue and $35.4M of net income; fiscal 2024 had $492.5M and $34.2M. Balance sheet: debt-to-equity 0.26, Altman Z 3.85, Piotroski 7/9, and trailing free cash flow $79.7M, an 8.3% FCF yield. Those are respectable. But returns are only moderate: ROE 12.22%, ROCE 6.49%. As a steel-related manufacturer, the Lynch category is cyclical, so peak earnings can mislead. At the close date, the FairStock-calculated P/E is 20.05, P/B 2.29, and the Graham Number is $69.61, leaving a negative 42.84% margin of safety. PEG is 0.27, but I distrust low PEGs on cyclicals. FairStock Score is 41/100. This is not a bargain by Graham’s arithmetic. It may be a decent business priced for continued growth, not a missed penny. I would want evidence that water infrastructure demand and margins persist through a cycle before calling it compelling.

In plain English: NWPX Infrastructure makes large steel pipes and precast products used in water systems, mostly in the U.S. and Canada. The business looks reasonably strong: it is profitable, growing, carries little debt, and produces good cash flow. But the stock price looks full or even expensive compared with its recent earnings and book value, so it is not an obvious bargain.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer