Northwest Pipe Company (NWPX) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Northwest Pipe Company $67.35, price $103, upside -34.4%, quality 67 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? No
- Good quality? Yes
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Northwest Pipe Company
NWPX · USOvervalued / MonitorQuality is not strong enough to offset the price risk.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.
How to read this chart
60‑month range $23.28 – $149.94 · fair‑value band $45.93 – $87.56 · the $102.62 price screens above the $67.35 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 23, 2026.
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Company profile
NWPX Infrastructure, Inc., together with its subsidiaries, manufactures and sells water-related infrastructure products in the United States and Canada. It operates through two segments, Water Transmission Systems (WTS); and Precast Infrastructure and Engineered Systems (Precast).
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NWPX Infrastructure, Inc., together with its subsidiaries, manufactures and sells water-related infrastructure products in the United States and Canada. It operates through two segments, Water Transmission Systems (WTS); and Precast Infrastructure and Engineered Systems (Precast). The WTS segment manufactures large-diameter, high-pressure steel pipeline systems for use in water infrastructure applications, which are primarily related to drinking water systems. Its products are also used for hydroelectric power systems, wastewater systems, seismic resiliency, and other applications. Its products are also used for hydroelectric power systems, wastewater systems, seismic resiliency, and other applications. The Precast segment offers stormwater and wastewater technology products, precast, and reinforced concrete products, including reinforced concrete pipe, manholes, box culverts, vaults and catch basins, pump lift stations, oil water separators, biofiltration units, and other environmental and engineered solutions. It provides its products under the NWPX Geneva and NWPX Park brand names; and manufactures engineered water transmission systems and produces steel casing pipe, bar-wrapped concrete cylinder pipe, and pipeline system joints and fittings under the Northwest Pipe Company brand. In addition, the company provides solution-based products for various markets, including reinforced precast concrete products, lined precast sanitary sewer system structures, water distribution and management equipment including pump lift stations, wastewater pretreatment, and stormwater quality products. Further, it sells water infrastructure products to installation contractors. The company was formerly known as Northwest Pipe Company and changed its name to NWPX Infrastructure, Inc. in June 2025. NWPX Infrastructure, Inc. was incorporated in 1966 and is headquartered in Vancouver, Washington.
Stock analysis
Northwest Pipe Company (NWPX) currently trades at $102.62, while our model-based Fair Value estimate is $67.35, implying the stock looks roughly 52.4% overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $69.95 per share, and 0 of the 24 models we run sit above the $102.62 price.
Bear case: the Earnings-Based group reads lowest at $22.45, and 24 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: $45.93 (bear) to $87.56 (bull), the price of $102.62 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 67/100 (solid quality), in the Basic Materials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Northwest Pipe Company reported revenue of $526M in FY2025 versus $333M in FY2021, a compound +12.1%/yr. Reported net income was $35.4M in FY2025, compounding +32.4%/yr from FY2021.
Key figures
Market cap $1.3B · P/E ratio 24.1 · P/S ratio 1.63 · EPS (TTM) $4.25 · Net margin 6.7% · Return on equity 10.7% · Return on assets (EBIT) 6.6% · Operating margin 9.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).
What moves the price
The share trades about 32% below its 52-week high and 108% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −45% fair-value upside, at −34%, NWPX screens cheaper than that median.
Fair Value models
All 24 models by family
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Set up alert →Quality Score breakdown
Of which business quality 66 · Market factors (momentum, volatility) 62
Revenue & earnings trend
Growth Forecast
NWPX screens 52% overvalued. Compare with Nucor Corporation →
Compare Northwest Pipe Company with another stock
Price, fair value, quality and upside side by side.
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Steel · 415 stocks
Valuation Multiplesvs Steel median · lower = cheaper
Strength profile in five axes (Snowflake)
VALUE 0: the price sits above our fair-value range.
Context: sector, industry, market
- Is the Industrials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: Industrials
- Undervalued stocks: US Stocks
- Valuation of the USA market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Steel stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Nucor Corporation NUE | $245.66 | $116.05 | −53% |
| Steel Dynamics, Inc STLD | $233.99 | $127.14 | −46% |
| JSW Steel Limited JSWSTEEL | ₹1,298 | ₹1,103 | −15% |
| Tata Steel Limited TATASTEEL | ₹190.82 | ₹147.13 | −23% |
| Reliance, Inc RS | $386.95 | $211.57 | −45% |
| Baoshan Iron & Steel Co 600019 | ¥5.73 | ¥8.07 | +41% |
| POSCO Holdings PKX | $59.05 | $68.58 | +16% |
| Inner Mongolia Baotou Steel Union Co 600010 | ¥2.12 | ¥0.5500 | −74% |
| Jindal Steel Limited JINDALSTEL | ₹1,175 | ₹516.27 | −56% |
| Lloyds Metals and Energy Limited LLOYDSME | ₹1,891 | ₹771.10 | −59% |
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Frequently asked questions
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Key figures of Northwest Pipe Company
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