Assay
Financial-condition grades for SEC filers
Company Report · as of Oct 9, 2026
|
| Northern Technologies International Corp.NTIC · manufacturing | |
|---|---|
| Grade |  C/Don the C/D boundary of 255 graded peers; percentile 57.1, sampling error 3.0 points; lower is stronger |
| Rank | 146 of 255 |
| Profitability | Cpercentile 47.8 |
| Solvency | C/Dpercentile 61.1 |
| Growth and financing | Cpercentile 43.3 |
| Reliability | 0.83 AUCfailure model, filers with $12.5M to $120M assets; 95% interval 0.79 to 0.86; 201 events, 2020 to 2025 |
| Peer failure rate | 1.07% a yearItem 1.03 bankruptcies, same asset band, 2012 to 2025 |
| Size band | $12.5M to $120M assetstotal assets $102.7M[1] |
| Standard universe | insiderevenue above $1M and assets above $10M[1-2] |
| Warnings | none activenot computable: distress, fortress balance sheet |
| Inputs computable | 7 of 14 |
| Graded from | filings received through Nov 20, 2025323 days before the rescan; every figure keyed to the SEC receipt date |
| Last close | $7.802026-10-05; market equity $74.1M; iex feed |
| Price used in grade | None |
| Share price, twelve months to the rescansplit-adjusted close; a lollipop at every rescan carries the letter held then; baseline ticks are SEC receipt dates of the inputs; ranges and dragging scroll the full history | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Percentile at every rescan on file, Jan 21, 2012 to Oct 9, 2026; stronger toward the top. Hover for the date. Open this report as it stood on | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Each date opens the report as it stood on that rescan. |
Business, in the company's words. Opening of Item 1 of the 10-K received Nov 20, 2025; the document on sec.gov.
As used in this report, references to “NTIC,” the “Company,” “we,” “our,” or “us,” unless the context otherwise requires, refer to Northern Technologies International Corporation and its wholly owned and majority-owned subsidiaries, all of which are consolidated on NTIC’s consolidated financial statements. As used in this report, references to: (1) “NTIC China” refer to NTIC’s wholly owned subsidiary in China, NTIC (Shanghai) Co., Ltd.; (2) “NTI Europe” refer to NTIC’s wholly owned subsidiary in Germany, NTIC Europe GmbH; (3) “Zerust Mexico” refer to NTIC’s wholly owned subsidiary in Mexico, ZERUST-EXCOR MEXICO, S. de R.L.
The Fourteen Inputs [top]
Lower percentile is stronger. Source numbers open the SEC filing; a range that spans filings opens the sources table.
| Input | Percentile, 0 to 100 | Value | Source | Peer median | Percentile | Peers | Period end |
|---|---|---|---|---|---|---|---|
| Profitability, sleeve percentile 47.8 | |||||||
| Gross profitability | 30.8% | [1,3] | 21.9% | 18.6 | 275 | 2025-08-31 | |
| Return on invested capital | not computable | 9.7% | |||||
| one or more required annual facts are missing | |||||||
| Accruals ratio | (2.5%) | [1,4-6] | (3.6%) | 60.3 | 308 | 2025-08-31 | |
| Gross margin stability, five years | 2.9 pts | [2-3,7-14] | 2.1 pts | 64.5 | 229 | 2025-08-31 | |
| Solvency, sleeve percentile 61.1 | |||||||
| Twelve-month failure probability | not computable | 0.04% | |||||
| liabilities and a nearby cover-page share count are required at 2026-05-31 | |||||||
| Altman Z double-prime | not computable | 3.66 | |||||
| one or more required annual facts are missing | |||||||
| Net debt to EBITDA | not computable | 1.78x | |||||
| one or more required annual facts are missing | |||||||
| Interest coverage | not computable | 5.09x | |||||
| latest aligned inputs end 2024-08-31; latest annual assets end 2025-08-31 | |||||||
| Current ratio | 1.86x | [15-16] | 2.25x | 61.1 | 325 | 2025-08-31 | |
| Growth and financing, sleeve percentile 43.3 | |||||||
| Revenue growth, three-year compound | 4.3% | [2,8,10,12] | 2.1% | 38.1 | 269 | 2025-08-31 | |
| Free cash flow growth, three-year compound | not computable | 13.9% | |||||
| current FCF must be positive and base FCF must exceed $100,000 | |||||||
| Reinvestment rate | not computable | 26.4% | |||||
| one or more required annual facts are missing | |||||||
| Asset growth, three years | 6.0% | [1,6,17-18] | 4.4% | 37.8 | 279 | 2025-08-31 | |
| Net share issuance, one year | 0.1% | [19-20] | 0.01% | 54.1 | 243 | 2025-11-18 | |
Gross profitability. Revenue less cost of goods sold, over total assets.
Accruals ratio. Net income less operating cash flow, over average assets; lower is stronger.
Gross margin stability, five years. Standard deviation of gross margin; lower is stronger.
Twelve-month failure probability. CHS model; lower is stronger.
Net debt to EBITDA. Lower is stronger.
Net share issuance, one year. Split-adjusted; lower is stronger.
Sleeves are equal-weighted; within a sleeve each computable input carries equal weight. Composite 0.017; sampling error 3.0 percentile points on 255 peers.
Among 255 Peers [top]
Composite score of every graded peer, smoothed. Vertical rules are the letter band edges at the 20th, 40th, 60th and 80th percentiles. Small dots are the six largest peers by market equity.
| Rank | Company | Percentile | Letter | Warnings |
|---|---|---|---|---|
| 141 | Dover Corp. (DOV) Dover Corp. (DOV) Cmiddle fifth; percentile 55.1 NYSE · Construction, Mining & Materials Handling Machinery & Equip market equity $25.4B; last close $188.94 No active warnings; 9 of 14 inputs | 55.1 | C | |
| 142 | Timken Co. (TKR) Timken Co. (TKR) Cmiddle fifth; percentile 55.5 NYSE · Ball & Roller Bearings market equity $7.9B; last close $114.34 No active warnings; 11 of 14 inputs | 55.5 | C | |
| 143 | nVent Electric plc (NVT) nVent Electric plc (NVT) Cmiddle fifth; percentile 55.9 NYSE · Special Industry Machinery (No Metalworking Machinery) market equity $26.6B; last close $164.23 No active warnings; 10 of 14 inputs | 55.9 | C | |
| 144 | Pentair plc (PNR) Pentair plc (PNR) Cmiddle fifth; percentile 56.3 NYSE · Special Industry Machinery (No Metalworking Machinery) market equity $8.5B; last close $52.32 No active warnings; 10 of 14 inputs | 56.3 | C | |
| 145 | Trio-Tech International (TRT) Trio-Tech International (TRT) Cmiddle fifth; percentile 56.7 Nasdaq · Special Industry Machinery, NEC market equity $58.8M; last close $5.67 Warnings: fortress balance sheet; 12 of 14 inputs | 56.7 | C | fortress balance sheet |
| 146 | Northern Technologies International Corp. (NTIC) Northern Technologies International Corp. (NTIC) C/Don the C/D boundary; percentile 57.1 Nasdaq · Coating, Engraving & Allied Services market equity $72.7M; last close $7.80 No active warnings; 7 of 14 inputs | 57.1 | C/D | |
| 147 | Kaiser Aluminum Corp. (KALU) Kaiser Aluminum Corp. (KALU) C/Don the C/D boundary; percentile 57.5 Nasdaq · Rolling Drawing & Extruding of Nonferrous Metals market equity $2.4B; last close $150.08 Warnings: fortress balance sheet; 9 of 14 inputs | 57.5 | C/D | fortress balance sheet |
| 148 | RBC Bearings Inc. (RBC) RBC Bearings Inc. (RBC) C/Don the C/D boundary; percentile 57.9 NYSE · Ball & Roller Bearings market equity $15.5B; last close $491.47 No active warnings; 11 of 14 inputs | 57.9 | C/D | |
| 149 | Steel Dynamics Inc. (STLD) Steel Dynamics Inc. (STLD) C/Don the C/D boundary; percentile 58.3 Nasdaq · Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens) market equity $33.6B; last close $234.08 No active warnings; 12 of 14 inputs | 58.3 | C/D | |
| 150 | Ingersoll Rand Inc. (IR) Ingersoll Rand Inc. (IR) C/Don the C/D boundary; percentile 58.7 NYSE · General Industrial Machinery & Equipment market equity $30.3B; last close $78.00 No active warnings; 12 of 14 inputs | 58.7 | C/D | |
| 151 | FreightCar America, Inc. (RAIL) FreightCar America, Inc. (RAIL) C/Don the C/D boundary; percentile 59.1 Nasdaq · Railroad Equipment market equity $202.3M; last close $6.17 No active warnings; 9 of 14 inputs | 59.1 | C/D |
| Peer policy | Letter | Percentile | Peers |
|---|---|---|---|
| all graded filers, equal sleeves | C | 55.0 | 2204 |
| sector peers, equal sleeves (the grade) | C/D | 57.1 | 255 |
| same exchange, equal sleeves | C/D | 60.0 | 1219 |
| sector peers, equal inputs | C | 48.8 | 255 |
Each letter is one fifth of the 255 graded peers, about 51 companies. A boundary letter (A/B, B/C, C/D, D/E) marks a percentile within one sampling error of a band edge.
What the Price Implies [top]
Market measures at the 2026-10-05 close. None enters the grade. Percentile among graded peers with the same measure.
| Measure | Value | Peer median | Percentile | Reading |
|---|---|---|---|---|
| Twelve-month price change, skipping the latest month | 4.1% | 13.7% | 40 | hotter than 40 of 100 peers |
| Distance from 52-week high | (22.5%) | (24.3%) | 54 | closer to its high than 54 of 100 peers |
| EBIT to enterprise value | not computable | 4.1% | required accounting or market input is missing | |
| Free cash flow yield | 1.3% | 3.4% | 29 | pricier than 71 of 100 peers |
| Book value to price | 1.00 | 0.34 | 90 | pricier than 10 of 100 peers |
| Sales to price | 1.16 | 0.54 | 75 | pricier than 25 of 100 peers |
| Composite equity issuance, five years | (5.2%) | (9.5%) | 55 | more equity-funded than 55 of 100 peers |
| Relative strength against the sector, log excess return | (0.09) | (0.00) | 40 | ahead of 40 of 100 peers |
Inputs: market equity $72.7M; EBIT $2.6M; free cash flow $916,518; book equity $72.8M; sales $84.2M; cash $7.3M[21].
Diagnostics [top]
Diagnostics do not feed the grade.
| Piotroski F-score: None of 9, period end 2025-08-31 | ||
|---|---|---|
| Return on assets above zero | 0.0% | ✓ pass[4,6] |
| Operating cash flow above zero | $2.4M | ✓ pass[5] |
| Return on assets improved | (6.0 pts) | ✗ fail[4,6,17,22] |
| Operating cash flow exceeds net income | $2.4M | ✓ pass[4-5] |
| Long-term leverage fell | n/a[1,6,17] | |
| Current ratio improved | (46.8 pts) | ✗ fail[15-16,23-24] |
| No new shares issued | 0.1% | ✗ fail[19-20] |
| Gross margin improved | (2.1 pts) | ✗ fail[2-3,7-8] |
| Asset turnover improved | (6.2 pts) | ✗ fail[2,6,8,17] |
Downloads [top]
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Sources [top]
Every citation on this page. Filing opens the SEC index page for that submission; viewer opens the SEC interactive data for the same filing; series opens the SEC XBRL API record for that tag and company.
| # | Concept | XBRL tag | Value | Period end | Received | Form | Links |
|---|---|---|---|---|---|---|---|
| 1 | assets | us-gaap:Assets | $102.7M | 2025-08-31 | 2025-11-20 | 10-K | filing · viewer · series |
| 2 | revenue | us-gaap:Revenues | $84.2M | 2025-08-31 | 2025-11-20 | 10-K | filing · viewer · series |
| 3 | gross profit | us-gaap:GrossProfit | $31.7M | 2025-08-31 | 2025-11-20 | 10-K | filing · viewer · series |
| 4 | net income | us-gaap:NetIncomeLoss | $17,619 | 2025-08-31 | 2025-11-20 | 10-K | filing · viewer · series |
| 5 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $2.4M | 2025-08-31 | 2025-11-20 | 10-K | filing · viewer · series |
| 6 | assets | us-gaap:Assets | $94.7M | 2024-08-31 | 2025-11-20 | 10-K | filing · viewer · series |
| 7 | gross profit | us-gaap:GrossProfit | $33.8M | 2024-08-31 | 2025-11-20 | 10-K | filing · viewer · series |
| 8 | revenue | us-gaap:Revenues | $85.1M | 2024-08-31 | 2025-11-20 | 10-K | filing · viewer · series |
| 9 | gross profit | us-gaap:GrossProfit | $27.8M | 2023-08-31 | 2024-11-19 | 10-K | filing · viewer · series |
| 10 | revenue | us-gaap:Revenues | $79.9M | 2023-08-31 | 2024-11-19 | 10-K | filing · viewer · series |
| 11 | gross profit | us-gaap:GrossProfit | $23.1M | 2022-08-31 | 2023-11-21 | 10-K | filing · viewer · series |
| 12 | revenue | us-gaap:Revenues | $74.2M | 2022-08-31 | 2023-11-21 | 10-K | filing · viewer · series |
| 13 | gross profit | us-gaap:GrossProfit | $19.6M | 2021-08-31 | 2022-11-15 | 10-K | filing · viewer · series |
| 14 | revenue | us-gaap:Revenues | $56.5M | 2021-08-31 | 2022-11-15 | 10-K | filing · viewer · series |
| 15 | current assets | us-gaap:AssetsCurrent | $44.3M | 2025-08-31 | 2025-11-20 | 10-K | filing · viewer · series |
| 16 | current liabilities | us-gaap:LiabilitiesCurrent | $23.9M | 2025-08-31 | 2025-11-20 | 10-K | filing · viewer · series |
| 17 | assets | us-gaap:Assets | $89.3M | 2023-08-31 | 2024-11-19 | 10-K | filing · viewer · series |
| 18 | assets | us-gaap:Assets | $86.2M | 2022-08-31 | 2023-11-21 | 10-K | filing · viewer · series |
| 19 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 9,480,689 | 2025-11-18 | 2025-11-20 | 10-K | filing · viewer · series |
| 20 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 9,470,507 | 2024-11-19 | 2024-11-19 | 10-K | filing · viewer · series |
| 21 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 9,496,439 | 2026-07-09 | 2026-07-09 | 10-Q | filing · viewer · series |
| 22 | net income | us-gaap:NetIncomeLoss | $5.4M | 2024-08-31 | 2025-11-20 | 10-K | filing · viewer · series |
| 23 | current assets | us-gaap:AssetsCurrent | $41.6M | 2024-08-31 | 2025-11-20 | 10-K | filing · viewer · series |
| 24 | current liabilities | us-gaap:LiabilitiesCurrent | $17.9M | 2024-08-31 | 2025-11-20 | 10-K | filing · viewer · series |
| 25 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $7.3M | 2026-05-31 | 2026-07-09 | 10-Q | filing · viewer · series |
| 26 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$758,572 | 2026-05-31 | 2026-07-09 | 10-Q | filing · viewer · series |
| 27 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$1.4M | 2026-02-28 | 2026-04-09 | 10-Q | filing · viewer · series |
| 28 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $341,908 | 2025-11-30 | 2026-01-08 | 10-Q | filing · viewer · series |
| 29 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $3.8M | 2025-05-31 | 2026-07-09 | 10-Q | filing · viewer · series |
Limitations [top]
Grade boundary. Percentile 57.1 is 2.9 points from the nearest band edge; sampling error is 3.0 points.
Peer group. Sector assignment from four-digit SIC codes, hand-tuned and published. The grade under three alternative peer policies is tabled above.
Size. Within a sector the letter tracks size. Among graded filers in the smallest asset band, 72% grade E and 0% grade A; in the largest, 13% grade E and 21% grade A. Universe as of Oct 9, 2026.
Failure model. filings 2012-01-01 to 2019-12-31 fit, filings 2020-01-01 to 2025-12-31 test; status post hoc pending confirmation. pre-registered on 2026 filings once their 12-month outcome windows close; supported if the paired per-quintile gain over the pooled model has a lower bound above 0.05.
Input validity. Revenue or total assets at or below $100,000 sets the degenerate-inputs flag. An input whose denominator is at or below $100,000 is left not computable rather than ranked.
Returns. No input on this page has a post-2015 confidence interval on returns that excludes zero. The grade ranks reported financial condition and is not a return forecast.
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