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NORTHWEST PIPE CO (NWPX) Stock Fundamental Analysis

NASDAQ:NWPX - Nasdaq - US6677461013 - Common Stock - Currency: USD

47.32  -0.49 (-1.02%)

Fundamental Rating

6

NWPX gets a fundamental rating of 6 out of 10. The analysis compared the fundamentals against 48 industry peers in the Construction & Engineering industry. Both the profitability and the financial health of NWPX get a neutral evaluation. Nothing too spectacular is happening here. NWPX is not valued too expensively and it also shows a decent growth rate.


Dividend Valuation Growth Profitability Health

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6

1. Profitability

1.1 Basic Checks

NWPX had positive earnings in the past year.
NWPX had a positive operating cash flow in the past year.
NWPX had positive earnings in each of the past 5 years.
Of the past 5 years NWPX 4 years had a positive operating cash flow.
NWPX Yearly Net Income VS EBIT VS OCF VS FCFNWPX Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 20M -20M 40M

1.2 Ratios

With a decent Return On Assets value of 4.79%, NWPX is doing good in the industry, outperforming 66.67% of the companies in the same industry.
With a Return On Equity value of 8.16%, NWPX perfoms like the industry average, outperforming 57.78% of the companies in the same industry.
With a decent Return On Invested Capital value of 6.52%, NWPX is doing good in the industry, outperforming 62.22% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for NWPX is significantly below the industry average of 11.84%.
The 3 year average ROIC (4.81%) for NWPX is below the current ROIC(6.52%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 4.79%
ROE 8.16%
ROIC 6.52%
ROA(3y)3.6%
ROA(5y)4.98%
ROE(3y)6.67%
ROE(5y)7.67%
ROIC(3y)4.81%
ROIC(5y)5.73%
NWPX Yearly ROA, ROE, ROICNWPX Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 5 -5 10 -10

1.3 Margins

NWPX's Profit Margin of 6.12% is fine compared to the rest of the industry. NWPX outperforms 75.56% of its industry peers.
NWPX's Profit Margin has declined in the last couple of years.
The Operating Margin of NWPX (9.62%) is better than 77.78% of its industry peers.
NWPX's Operating Margin has declined in the last couple of years.
NWPX has a Gross Margin (19.10%) which is comparable to the rest of the industry.
NWPX's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 9.62%
PM (TTM) 6.12%
GM 19.1%
OM growth 3Y-8.15%
OM growth 5YN/A
PM growth 3Y-10.8%
PM growth 5Y-16.66%
GM growth 3Y-0.36%
GM growth 5Y19.97%
NWPX Yearly Profit, Operating, Gross MarginsNWPX Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 10 -10

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6

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), NWPX is destroying value.
The number of shares outstanding for NWPX has been increased compared to 1 year ago.
NWPX has more shares outstanding than it did 5 years ago.
Compared to 1 year ago, NWPX has an improved debt to assets ratio.
NWPX Yearly Shares OutstandingNWPX Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2M 4M 6M 8M
NWPX Yearly Total Debt VS Total AssetsNWPX Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 200M 400M 600M

2.2 Solvency

NWPX has an Altman-Z score of 3.08. This indicates that NWPX is financially healthy and has little risk of bankruptcy at the moment.
The Altman-Z score of NWPX (3.08) is comparable to the rest of the industry.
NWPX has a debt to FCF ratio of 11.32. This is a negative value and a sign of low solvency as NWPX would need 11.32 years to pay back of all of its debts.
NWPX has a Debt to FCF ratio (11.32) which is in line with its industry peers.
NWPX has a Debt/Equity ratio of 0.17. This is a healthy value indicating a solid balance between debt and equity.
NWPX's Debt to Equity ratio of 0.17 is fine compared to the rest of the industry. NWPX outperforms 73.33% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.17
Debt/FCF 11.32
Altman-Z 3.08
ROIC/WACC0.69
WACC9.42%
NWPX Yearly LT Debt VS Equity VS FCFNWPX Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 100M 200M 300M

2.3 Liquidity

NWPX has a Current Ratio of 3.20. This indicates that NWPX is financially healthy and has no problem in meeting its short term obligations.
NWPX's Current ratio of 3.20 is amongst the best of the industry. NWPX outperforms 95.56% of its industry peers.
A Quick Ratio of 2.27 indicates that NWPX has no problem at all paying its short term obligations.
The Quick ratio of NWPX (2.27) is better than 93.33% of its industry peers.
Industry RankSector Rank
Current Ratio 3.2
Quick Ratio 2.27
NWPX Yearly Current Assets VS Current LiabilitesNWPX Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 50M 100M 150M 200M 250M

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6

3. Growth

3.1 Past

NWPX shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 22.50%, which is quite impressive.
The Earnings Per Share has been growing slightly by 0.00% on average over the past years.
The Revenue has grown by 9.54% in the past year. This is quite good.
Measured over the past years, NWPX shows a very strong growth in Revenue. The Revenue has been growing by 20.89% on average per year.
EPS 1Y (TTM)22.5%
EPS 3Y-0.63%
EPS 5Y0%
EPS Q2Q%75.86%
Revenue 1Y (TTM)9.54%
Revenue growth 3Y15.83%
Revenue growth 5Y20.89%
Sales Q2Q%9.67%

3.2 Future

The Earnings Per Share is expected to grow by 9.87% on average over the next years. This is quite good.
The Revenue is expected to grow by 2.48% on average over the next years.
EPS Next Y61.8%
EPS Next 2Y30.43%
EPS Next 3Y22.5%
EPS Next 5Y9.87%
Revenue Next Year11.5%
Revenue Next 2Y5.74%
Revenue Next 3Y4.84%
Revenue Next 5Y2.48%

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
NWPX Yearly Revenue VS EstimatesNWPX Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 100M 200M 300M 400M 500M
NWPX Yearly EPS VS EstimatesNWPX Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 0 2 -2

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6

4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 16.10, the valuation of NWPX can be described as correct.
Based on the Price/Earnings ratio, NWPX is valued cheaply inside the industry as 91.11% of the companies are valued more expensively.
The average S&P500 Price/Earnings ratio is at 29.62. NWPX is valued slightly cheaper when compared to this.
The Price/Forward Earnings ratio is 13.31, which indicates a correct valuation of NWPX.
Compared to the rest of the industry, the Price/Forward Earnings ratio of NWPX indicates a rather cheap valuation: NWPX is cheaper than 86.67% of the companies listed in the same industry.
NWPX's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 22.70.
Industry RankSector Rank
PE 16.1
Fwd PE 13.31
NWPX Price Earnings VS Forward Price EarningsNWPX Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, NWPX is valued cheaper than 95.56% of the companies in the same industry.
68.89% of the companies in the same industry are cheaper than NWPX, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 74.36
EV/EBITDA 8.34
NWPX Per share dataNWPX EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30 40

4.3 Compensation for Growth

NWPX's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
The decent profitability rating of NWPX may justify a higher PE ratio.
A more expensive valuation may be justified as NWPX's earnings are expected to grow with 22.50% in the coming years.
PEG (NY)0.26
PEG (5Y)6229.78
EPS Next 2Y30.43%
EPS Next 3Y22.5%

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0

5. Dividend

5.1 Amount

NWPX does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

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NORTHWEST PIPE CO

NASDAQ:NWPX (2/24/2025, 2:58:09 PM)

47.32

-0.49 (-1.02%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryConstruction & Engineering
Earnings (Last)10-30 2024-10-30/amc
Earnings (Next)02-26 2025-02-26/amc
Inst Owners84.51%
Inst Owner Change-88.24%
Ins Owners2.81%
Ins Owner Change-11.32%
Market Cap469.41M
Analysts80
Price Target57.46 (21.43%)
Short Float %1.57%
Short Ratio2.16
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)24.22%
Min EPS beat(2)15.38%
Max EPS beat(2)33.06%
EPS beat(4)4
Avg EPS beat(4)31.23%
Min EPS beat(4)15.38%
Max EPS beat(4)51.43%
EPS beat(8)5
Avg EPS beat(8)8%
EPS beat(12)9
Avg EPS beat(12)15.18%
EPS beat(16)12
Avg EPS beat(16)16%
Revenue beat(2)2
Avg Revenue beat(2)3.86%
Min Revenue beat(2)0.36%
Max Revenue beat(2)7.35%
Revenue beat(4)4
Avg Revenue beat(4)3.81%
Min Revenue beat(4)0.36%
Max Revenue beat(4)7.35%
Revenue beat(8)4
Avg Revenue beat(8)0.58%
Revenue beat(12)8
Avg Revenue beat(12)3.09%
Revenue beat(16)11
Avg Revenue beat(16)3.58%
PT rev (1m)3.05%
PT rev (3m)3.05%
EPS NQ rev (1m)0.74%
EPS NQ rev (3m)0.74%
EPS NY rev (1m)0.1%
EPS NY rev (3m)0.1%
Revenue NQ rev (1m)-0.1%
Revenue NQ rev (3m)-0.1%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.02%
Valuation
Industry RankSector Rank
PE 16.1
Fwd PE 13.31
P/S 0.97
P/FCF 74.36
P/OCF 16.78
P/B 1.3
P/tB 1.68
EV/EBITDA 8.34
EPS(TTM)2.94
EY6.21%
EPS(NY)3.56
Fwd EY7.51%
FCF(TTM)0.64
FCFY1.34%
OCF(TTM)2.82
OCFY5.96%
SpS48.7
BVpS36.53
TBVpS28.11
PEG (NY)0.26
PEG (5Y)6229.78
Profitability
Industry RankSector Rank
ROA 4.79%
ROE 8.16%
ROCE 8.85%
ROIC 6.52%
ROICexc 6.59%
ROICexgc 7.85%
OM 9.62%
PM (TTM) 6.12%
GM 19.1%
FCFM 1.31%
ROA(3y)3.6%
ROA(5y)4.98%
ROE(3y)6.67%
ROE(5y)7.67%
ROIC(3y)4.81%
ROIC(5y)5.73%
ROICexc(3y)4.84%
ROICexc(5y)6.12%
ROICexgc(3y)5.91%
ROICexgc(5y)6.96%
ROCE(3y)6.53%
ROCE(5y)7.78%
ROICexcg growth 3Y-9.18%
ROICexcg growth 5YN/A
ROICexc growth 3Y-11.22%
ROICexc growth 5YN/A
OM growth 3Y-8.15%
OM growth 5YN/A
PM growth 3Y-10.8%
PM growth 5Y-16.66%
GM growth 3Y-0.36%
GM growth 5Y19.97%
F-Score7
Asset Turnover0.78
Health
Industry RankSector Rank
Debt/Equity 0.17
Debt/FCF 11.32
Debt/EBITDA 0.94
Cap/Depr 118.39%
Cap/Sales 4.48%
Interest Coverage 250
Cash Conversion 43.19%
Profit Quality 21.36%
Current Ratio 3.2
Quick Ratio 2.27
Altman-Z 3.08
F-Score7
WACC9.42%
ROIC/WACC0.69
Cap/Depr(3y)116.17%
Cap/Depr(5y)102.93%
Cap/Sales(3y)4.38%
Cap/Sales(5y)4.25%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)22.5%
EPS 3Y-0.63%
EPS 5Y0%
EPS Q2Q%75.86%
EPS Next Y61.8%
EPS Next 2Y30.43%
EPS Next 3Y22.5%
EPS Next 5Y9.87%
Revenue 1Y (TTM)9.54%
Revenue growth 3Y15.83%
Revenue growth 5Y20.89%
Sales Q2Q%9.67%
Revenue Next Year11.5%
Revenue Next 2Y5.74%
Revenue Next 3Y4.84%
Revenue Next 5Y2.48%
EBIT growth 1Y28.02%
EBIT growth 3Y6.39%
EBIT growth 5YN/A
EBIT Next Year110.82%
EBIT Next 3Y33.41%
EBIT Next 5YN/A
FCF growth 1Y-61.55%
FCF growth 3Y-5.56%
FCF growth 5YN/A
OCF growth 1Y-16.1%
OCF growth 3Y-1.59%
OCF growth 5YN/A