company background image
NWPX

Northwest Pipe NasdaqGS:NWPX Stock Report

Last Price

US$31.34

Market Cap

US$311.1m

7D

6.8%

1Y

15.0%

Updated

10 Aug, 2022

Data

Company Financials +
NWPX fundamental analysis
Snowflake Score
Valuation5/6
Future Growth3/6
Past Performance3/6
Financial Health4/6
Dividends0/6

NWPX Stock Overview

Northwest Pipe Company, together with its subsidiaries, manufactures and supplies water related infrastructure products in North America.

Northwest Pipe Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Northwest Pipe
Historical stock prices
Current Share PriceUS$31.34
52 Week HighUS$34.94
52 Week LowUS$23.11
Beta0.75
1 Month Change7.59%
3 Month Change5.49%
1 Year Change15.01%
3 Year Change23.29%
5 Year Change89.60%
Change since IPO213.40%

Recent News & Updates

Aug 08

Northwest Pipe Non-GAAP EPS of $1.04 beats by $0.31, revenue of $118.52M beats by $8.52M

Northwest Pipe press release (NASDAQ:NWPX): Q2 Non-GAAP EPS of $1.04 beats by $0.31. Revenue of $118.52M (+60.6% Y/Y) beats by $8.52M.

May 11
These 4 Measures Indicate That Northwest Pipe (NASDAQ:NWPX) Is Using Debt Reasonably Well

These 4 Measures Indicate That Northwest Pipe (NASDAQ:NWPX) Is Using Debt Reasonably Well

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...

Shareholder Returns

NWPXUS ConstructionUS Market
7D6.8%3.8%1.2%
1Y15.0%11.0%-11.6%

Return vs Industry: NWPX exceeded the US Construction industry which returned 9.2% over the past year.

Return vs Market: NWPX exceeded the US Market which returned -13.5% over the past year.

Price Volatility

Is NWPX's price volatile compared to industry and market?
NWPX volatility
NWPX Average Weekly Movement5.8%
Construction Industry Average Movement6.1%
Market Average Movement7.9%
10% most volatile stocks in US Market17.0%
10% least volatile stocks in US Market3.2%

Stable Share Price: NWPX is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: NWPX's weekly volatility (6%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19661,256Scott Montrosshttps://www.nwpipe.com

Northwest Pipe Company, together with its subsidiaries, manufactures and supplies water related infrastructure products in North America. It operates in two segments, Engineered Steel Pressure Pipe (SPP) and Precast Infrastructure and Engineered Systems (Precast). The SPP segment offers large-diameter, high-pressure steel pipeline systems for use in water infrastructure applications, which are primarily related to drinking water systems.

Northwest Pipe Fundamentals Summary

How do Northwest Pipe's earnings and revenue compare to its market cap?
NWPX fundamental statistics
Market CapUS$311.12m
Earnings (TTM)US$20.45m
Revenue (TTM)US$415.04m

15.2x

P/E Ratio

0.7x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
NWPX income statement (TTM)
RevenueUS$415.04m
Cost of RevenueUS$350.24m
Gross ProfitUS$64.81m
Other ExpensesUS$44.36m
EarningsUS$20.45m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)2.06
Gross Margin15.61%
Net Profit Margin4.93%
Debt/Equity Ratio30.4%

How did NWPX perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is NWPX undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for NWPX?

Other financial metrics that can be useful for relative valuation.

NWPX key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue1.2x
Enterprise Value/EBITDA13.4x
PEG Ratio0.5x

Price to Earnings Ratio vs Peers

How does NWPX's PE Ratio compare to its peers?

NWPX PE Ratio vs Peers
The above table shows the PE ratio for NWPX vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average42.2x
BBCP Concrete Pumping Holdings
30.9x29.1%US$410.8m
AGX Argan
14.7x27.3%US$514.7m
SOL ReneSola
105.3x70.5%US$463.5m
IESC IES Holdings
18xn/aUS$676.3m
NWPX Northwest Pipe
15.2x29.1%US$311.1m

Price-To-Earnings vs Peers: NWPX is good value based on its Price-To-Earnings Ratio (15.2x) compared to the peer average (42.2x).


Price to Earnings Ratio vs Industry

How does NWPX's PE Ratio compare vs other companies in the US Construction Industry?

Price-To-Earnings vs Industry: NWPX is good value based on its Price-To-Earnings Ratio (15.2x) compared to the US Construction industry average (27.9x)


Price to Earnings Ratio vs Fair Ratio

What is NWPX's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

NWPX PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio15.2x
Fair PE Ratio20.6x

Price-To-Earnings vs Fair Ratio: NWPX is good value based on its Price-To-Earnings Ratio (15.2x) compared to the estimated Fair Price-To-Earnings Ratio (20.6x).


Share Price vs Fair Value

What is the Fair Price of NWPX when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: NWPX ($31.34) is trading below our estimate of fair value ($75.72)

Significantly Below Fair Value: NWPX is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.


Discover undervalued companies

Future Growth

How is Northwest Pipe forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

Future Growth Score

3/6

Future Growth Score 3/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


29.1%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: NWPX's forecast earnings growth (29.1% per year) is above the savings rate (1.9%).

Earnings vs Market: NWPX's earnings (29.1% per year) are forecast to grow faster than the US market (14.6% per year).

High Growth Earnings: NWPX's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: NWPX's revenue (4.1% per year) is forecast to grow slower than the US market (7.9% per year).

High Growth Revenue: NWPX's revenue (4.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if NWPX's Return on Equity is forecast to be high in 3 years time


Discover growth companies

Past Performance

How has Northwest Pipe performed over the past 5 years?

Past Performance Score

3/6

Past Performance Score 3/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


23.0%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: NWPX has high quality earnings.

Growing Profit Margin: NWPX's current net profit margins (4.9%) are lower than last year (5.7%).


Past Earnings Growth Analysis

Earnings Trend: NWPX's earnings have grown significantly by 23% per year over the past 5 years.

Accelerating Growth: NWPX's earnings growth over the past year (21.8%) is below its 5-year average (23% per year).

Earnings vs Industry: NWPX earnings growth over the past year (21.8%) exceeded the Construction industry 13.1%.


Return on Equity

High ROE: NWPX's Return on Equity (6.9%) is considered low.


Discover strong past performing companies

Financial Health

How is Northwest Pipe's financial position?

Financial Health Score

4/6

Financial Health Score 4/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: NWPX's short term assets ($269.8M) exceed its short term liabilities ($91.8M).

Long Term Liabilities: NWPX's short term assets ($269.8M) exceed its long term liabilities ($197.9M).


Debt to Equity History and Analysis

Debt Level: NWPX's net debt to equity ratio (29.3%) is considered satisfactory.

Reducing Debt: NWPX's debt to equity ratio has increased from 0.01% to 30.4% over the past 5 years.

Debt Coverage: NWPX's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: NWPX's interest payments on its debt are well covered by EBIT (15.9x coverage).


Balance Sheet


Discover healthy companies

Dividend

What is Northwest Pipe current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate NWPX's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate NWPX's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if NWPX's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if NWPX's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as NWPX has not reported any payouts.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

2.9yrs

Average management tenure


CEO

Scott Montross (57 yo)

9.58yrs

Tenure

US$1,943,875

Compensation

Mr. Scott J. Montross has been the Chief Executive Officer and President of Northwest Pipe Company since January 1, 2013. Mr. Montross served as Chief Operating Officer and Executive Vice President at Nort...


CEO Compensation Analysis

Compensation vs Market: Scott's total compensation ($USD1.94M) is about average for companies of similar size in the US market ($USD2.68M).

Compensation vs Earnings: Scott's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: NWPX's management team is considered experienced (2.9 years average tenure).


Board Members

Experienced Board: NWPX's board of directors are considered experienced (7.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Northwest Pipe Company's employee growth, exchange listings and data sources


Key Information

  • Name: Northwest Pipe Company
  • Ticker: NWPX
  • Exchange: NasdaqGS
  • Founded: 1966
  • Industry: Construction and Engineering
  • Sector: Capital Goods
  • Implied Market Cap: US$311.123m
  • Shares outstanding: 9.93m
  • Website: https://www.nwpipe.com

Number of Employees


Location

  • Northwest Pipe Company
  • 201 NE Park Plaza Drive
  • Suite 100
  • Vancouver
  • Washington
  • 98684
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/10 00:00
End of Day Share Price2022/08/10 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.