Assay
Financial-condition grades for SEC filers
Company Report · as of Oct 9, 2026
|
| Nwpx Infrastructure, Inc.NWPX · manufacturing | |
|---|---|
| Grade |  Astrongest fifth of 255 graded peers; percentile 15.4, sampling error 3.0 points; lower is stronger |
| Rank | 40 of 255 |
| Profitability | Cpercentile 50.2 |
| Solvency | A/Bpercentile 18.7 |
| Growth and financing | B/Cpercentile 39.5 |
| Reliability | 0.87 AUCfailure model, filers with $120M to $591M assets; 95% interval 0.83 to 0.90; 206 events, 2020 to 2025 |
| Peer failure rate | 1.03% a yearItem 1.03 bankruptcies, same asset band, 2012 to 2025 |
| Size band | $120M to $591M assetstotal assets $579.6M[1] |
| Standard universe | insiderevenue above $1M and assets above $10M[1-2] |
| Warnings | none activenot computable: distress |
| Inputs computable | 9 of 14 |
| Graded from | filings received through Feb 26, 2026225 days before the rescan; every figure keyed to the SEC receipt date |
| Last close | $100.642026-10-08; market equity $969.9M; 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 Feb 26, 2026; the document on sec.gov.
Unless otherwise indicated, the terms “the Company,” “NWPX Infrastructure,” “we,” “our,” and “us” are used in this 2025 Form 10‑K to refer to NWPX Infrastructure, Inc. or one of our consolidated subsidiaries or to all of them taken as a whole. We were incorporated in the State of Oregon in 1966. NWPX Infrastructure, Inc., formerly known as Northwest Pipe Company, is a leading manufacturer of water-related infrastructure products, and operates in two segments, Water Transmission Systems (“WTS”), operating as the Northwest Pipe Company brand, and Precast Infrastructure and Engineered Systems (“Precast”), which includes the brands NWPX Geneva and NWPX Park.
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 50.2 | |||||||
| Gross profitability | 17.9% | [1,3] | 21.9% | 60.2 | 275 | 2025-12-31 | |
| Return on invested capital | not computable | 9.7% | |||||
| latest aligned inputs end 2013-12-31; latest annual assets end 2025-12-31 | |||||||
| Accruals ratio | (5.5%) | [1,4-6] | (3.6%) | 37.5 | 308 | 2025-12-31 | |
| Gross margin stability, five years | 2.3 pts | [2-3,7-14] | 2.1 pts | 53.1 | 229 | 2025-12-31 | |
| Solvency, sleeve percentile 18.7 | |||||||
| Twelve-month failure probability | not computable | 0.04% | |||||
| latest liabilities, cash plus short-term investments, book equity, and shares are required | |||||||
| Altman Z double-prime | 6.51 | [1,15-20] | 3.66 | 19.8 | 244 | 2025-12-31 | |
| Net debt to EBITDA | not computable | 1.78x | |||||
| latest aligned inputs end 2013-12-31; latest annual assets end 2025-12-31 | |||||||
| Interest coverage | 19.50x | [18,21] | 5.09x | 17.5 | 64 | 2025-12-31 | |
| Current ratio | 3.78x | [15-16] | 2.25x | 18.8 | 325 | 2025-12-31 | |
| Growth and financing, sleeve percentile 39.5 | |||||||
| Revenue growth, three-year compound | 4.7% | [2,8,10,12] | 2.1% | 34.7 | 269 | 2025-12-31 | |
| 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% | |||||
| pretax income must exceed the validity floor and imply a 0%-100% tax rate | |||||||
| Asset growth, three years | (1.2%) | [1,6,22-23] | 4.4% | 72.7 | 279 | 2025-12-31 | |
| Net share issuance, one year | (3.6%) | [24-25] | 0.01% | 11.2 | 243 | 2026-02-17 | |
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 -0.299; 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 |
|---|---|---|---|---|
| 35 | Cummins Inc. (CMI) Cummins Inc. (CMI) Astrongest fifth; percentile 13.4 NYSE · Engines & Turbines market equity $71.6B; last close $520.36 No active warnings; 12 of 14 inputs | 13.4 | A | |
| 36 | Weatherford International plc (WFRD) Weatherford International plc (WFRD) Astrongest fifth; percentile 13.8 Nasdaq · Oil & Gas Field Machinery & Equipment market equity $5.5B; last close $76.89 No active warnings; 10 of 14 inputs | 13.8 | A | |
| 37 | Lennox International Inc. (LII) Lennox International Inc. (LII) Astrongest fifth; percentile 14.2 NYSE · Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip market equity $12.6B; last close $361.63 No active warnings; 12 of 14 inputs | 14.2 | A | |
| 38 | Park Aerospace Corp. (PKE) Park Aerospace Corp. (PKE) Astrongest fifth; percentile 14.6 NYSE · Aircraft Parts & Auxiliary Equipment, NEC market equity $645.1M; last close $29.74 Warnings: late filer, fortress balance sheet; 10 of 14 inputs | 14.6 | A | late filer, fortress balance sheet |
| 39 | Kadant Inc. (KAI) Kadant Inc. (KAI) Astrongest fifth; percentile 15.0 NYSE · Special Industry Machinery (No Metalworking Machinery) market equity $3.1B; last close $260.43 No active warnings; 11 of 14 inputs | 15.0 | A | |
| 40 | Nwpx Infrastructure, Inc. (NWPX) Nwpx Infrastructure, Inc. (NWPX) Astrongest fifth; percentile 15.4 Nasdaq · Steel Pipe & Tubes market equity $970.8M; last close $100.64 No active warnings; 9 of 14 inputs | 15.4 | A | |
| 41 | Axcelis Technologies Inc. (ACLS) Axcelis Technologies Inc. (ACLS) Astrongest fifth; percentile 15.7 Nasdaq · Special Industry Machinery, NEC market equity $4.1B; last close $133.67 No active warnings; 11 of 14 inputs | 15.7 | A | |
| 42 | Gencor Industries Inc. (GENC) Gencor Industries Inc. (GENC) Astrongest fifth; percentile 16.1 NYSE · Construction Machinery & Equip last close $18.01 Warnings: late filer, fortress balance sheet; 10 of 14 inputs | 16.1 | A | late filer, fortress balance sheet |
| 43 | Movado Group Inc. (MOV) Movado Group Inc. (MOV) Astrongest fifth; percentile 16.5 NYSE · Watches, Clocks, Clockwork Operated Devices/Parts last close $32.02 No active warnings; 8 of 14 inputs | 16.5 | A | |
| 44 | Kratos Defense & Security Solutions, Inc. (KTOS) Kratos Defense & Security Solutions, Inc. (KTOS) Astrongest fifth; percentile 16.9 Nasdaq · Guided Missiles & Space Vehicles & Parts market equity $7.9B; last close $41.93 Warnings: fortress balance sheet; 9 of 14 inputs | 16.9 | A | fortress balance sheet |
| 45 | Moog Inc. (MOG-A) Moog Inc. (MOG-A) A/Bon the A/B boundary; percentile 17.5 NYSE · Misc Industrial & Commercial Machinery & Equipment last close $363.40 No active warnings; 7 of 14 inputs | 17.5 | A/B |
| Peer policy | Letter | Percentile | Peers |
|---|---|---|---|
| all graded filers, equal sleeves | A/B | 19.2 | 2204 |
| sector peers, equal sleeves (the grade) | A | 15.4 | 255 |
| same exchange, equal sleeves | A/B | 20.1 | 1219 |
| sector peers, equal inputs | A | 14.2 | 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 2026-10-08 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 | 107.7% | 13.7% | 94 | hotter than 94 of 100 peers |
| Distance from 52-week high | (32.8%) | (24.3%) | 34 | closer to its high than 34 of 100 peers |
| EBIT to enterprise value | 5.3% | 4.1% | 62 | pricier than 38 of 100 peers |
| Free cash flow yield | 4.9% | 3.4% | 64 | pricier than 36 of 100 peers |
| Book value to price | 0.43 | 0.34 | 58 | pricier than 42 of 100 peers |
| Sales to price | 0.54 | 0.54 | 50 | pricier than 50 of 100 peers |
| Composite equity issuance, five years | (1.8%) | (9.5%) | 62 | more equity-funded than 62 of 100 peers |
| Relative strength against the sector, log excess return | 0.60 | (0.00) | 94 | ahead of 94 of 100 peers |
Inputs: market equity $970.8M; EBIT $50.9M; free cash flow $47.1M; book equity $418.6M; sales $526.0M; debt $3.6M; cash $19.3M[26].
Diagnostics [top]
Diagnostics do not feed the grade.
| Piotroski F-score: 9 of 9, period end 2025-12-31 | ||
|---|---|---|
| Return on assets above zero | 6.0% | ✓ pass[4,6] |
| Operating cash flow above zero | $67.3M | ✓ pass[5] |
| Return on assets improved | 0.3 pts | ✓ pass[4,6,22,27] |
| Operating cash flow exceeds net income | $31.9M | ✓ pass[4-5] |
| Long-term leverage fell | (0.5 pts) | ✓ pass[1,6,22,28-29] |
| Current ratio improved | 28.4 pts | ✓ pass[15-16,30-31] |
| No new shares issued | (3.6%) | ✓ pass[24-25] |
| Gross margin improved | 0.3 pts | ✓ pass[2-3,7-8] |
| Asset turnover improved | 6.8 pts | ✓ pass[2,6,8,22] |
| Cash, filings, liquidity | |
|---|---|
| Cash and equivalents | $19.3M[32] |
| Operating cash flow, four quarters | $100.4M[5,32-36] |
| Months of runway | not finite |
| trailing operating cash flow is nonnegative, so runway is not finite | |
| Late filings, two years | 0 |
| NT 10-K or NT 10-Q | |
| Days since last periodic filing | 71 |
| 10-Q received Jul 30, 2026 | |
| Median daily dollar volume | $15.5M |
| 63 sessions | |
| Days since newest grade input | 225 |
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 | $579.6M | 2025-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 2 | revenue | us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax | $526.0M | 2025-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 3 | gross profit | us-gaap:GrossProfit | $103.6M | 2025-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 4 | net income | us-gaap:NetIncomeLoss | $35.4M | 2025-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 5 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $67.3M | 2025-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 6 | assets | us-gaap:Assets | $589.7M | 2024-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 7 | gross profit | us-gaap:GrossProfit | $95.4M | 2024-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 8 | revenue | us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax | $492.5M | 2024-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 9 | gross profit | us-gaap:GrossProfit | $77.6M | 2023-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 10 | revenue | us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax | $444.4M | 2023-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 11 | gross profit | us-gaap:GrossProfit | $85.9M | 2022-12-31 | 2025-02-27 | 10-K | filing · viewer · series |
| 12 | revenue | us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax | $457.7M | 2022-12-31 | 2025-02-27 | 10-K | filing · viewer · series |
| 13 | gross profit | us-gaap:GrossProfit | $44.3M | 2021-12-31 | 2024-03-05 | 10-K | filing · viewer · series |
| 14 | revenue | us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax | $333.3M | 2021-12-31 | 2024-03-05 | 10-K | filing · viewer · series |
| 15 | current assets | us-gaap:AssetsCurrent | $251.4M | 2025-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 16 | current liabilities | us-gaap:LiabilitiesCurrent | $66.5M | 2025-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 17 | retained earnings | us-gaap:RetainedEarningsAccumulatedDeficit | $281.7M | 2025-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 18 | operating income | us-gaap:OperatingIncomeLoss | $50.9M | 2025-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 19 | book equity | us-gaap:StockholdersEquity | $394.8M | 2025-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 20 | liabilities | us-gaap:Liabilities | $184.8M | 2025-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 21 | interest expense | us-gaap:InterestExpense | $2.6M | 2025-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 22 | assets | us-gaap:Assets | $597.9M | 2023-12-31 | 2025-02-27 | 10-K | filing · viewer · series |
| 23 | assets | us-gaap:Assets | $601.3M | 2022-12-31 | 2024-03-05 | 10-K | filing · viewer · series |
| 24 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 9,574,225 | 2026-02-17 | 2026-02-26 | 10-K | filing · viewer · series |
| 25 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 9,935,295 | 2025-02-18 | 2025-02-27 | 10-K | filing · viewer · series |
| 26 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 9,637,202 | 2026-07-21 | 2026-07-30 | 10-Q | filing · viewer · series |
| 27 | net income | us-gaap:NetIncomeLoss | $34.2M | 2024-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 28 | long term debt | us-gaap:LongTermDebtNoncurrent | $8.5M | 2025-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 29 | long term debt | us-gaap:LongTermDebtNoncurrent | $11.5M | 2024-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 30 | current assets | us-gaap:AssetsCurrent | $262.5M | 2024-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 31 | current liabilities | us-gaap:LiabilitiesCurrent | $75.1M | 2024-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 32 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $19.3M | 2026-06-30 | 2026-07-30 | 10-Q | filing · viewer · series |
| 33 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $43.3M | 2026-06-30 | 2026-07-30 | 10-Q | filing · viewer · series |
| 34 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $29.3M | 2026-03-31 | 2026-04-30 | 10-Q | filing · viewer · series |
| 35 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $31.2M | 2025-09-30 | 2025-10-30 | 10-Q | filing · viewer · series |
| 36 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $10.3M | 2025-06-30 | 2026-07-30 | 10-Q | filing · viewer · series |
Limitations [top]
Grade boundary. Percentile 15.4 is 4.6 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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