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NWPX Infrastructure, Inc (NWPX) Fair Value & Analysis

Basic Materials · US · Market cap $1.3B

NI NWPX Infrastructure, Inc logo NWPX Infrastructure, Inc NWPX · US
Price$119.72
Fair Value$69.15
Upside-42.2%
Quality67/100
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Healthy Growth
Thin margins · 7.7% net margin
Low debt · generates free cash flow
Mixed vs. peers (7/14)
Moderate moat 46/100
Evidence: High Range $45.30 – $96.46 Share as image

Fair value as of: Jul 18, 2026

From 24 valuation models · updated 23 days ago

Share price −9.5% over the past month.

A solid business, but screening 42% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case ($96.46). The favourable scenario is already priced in.
  • Solid but not exceptional quality (67/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range ($45.30 to $96.46) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

$149.94 $23.28 Fair Value $69.15 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.

How to read this chart

60‑month range $23.28 – $149.94 · fair‑value band $45.30 – $96.46 · the $119.72 price screens above the $69.15 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 18, 2026.

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Analysis

NWPX Infrastructure, Inc (NWPX) currently trades at $119.72, while our model-based Fair Value estimate is $69.15, implying the stock looks roughly 42.2% overvalued today. The Quality Score stands at 67/100 (solid quality), in the Basic Materials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, NWPX Infrastructure, Inc generated revenue of $548M at a net margin of 7.7%. Revenue grew 19.1% year over year. It earns a return on equity of 10.7%. Net debt stands at $101M. Fundamentals as of Jul 18, 2026

Our scenario range runs from $45.30 (bear case) to $96.46 (bull case); at $119.72, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 17% below its 52-week high and 206% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -7% fair-value upside, at -42%, NWPX screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF $45.13 $62.15 $83.22 80
Residual Income $32.92 $35.07 $38.65 76
Rev-Margin DCF $44.83 $70.30 $99.27 74
All 24 models by family
DCF Models
FCF DCF $44.75 $64.21 $89.82 38
Owner Earnings $32.76 $47.08 $65.93 31
5Y Revenue Exit $44.83 $70.05 $101.80 39
5Y EBITDA Exit $55.19 $89.23 $128.49 41
5Y P/E Exit $48.11 $76.13 $105.08 38
10Y Revenue Exit $43.06 $64.63 $92.79 36
10Y EBITDA Exit $50.29 $76.73 $111.23 37
10Y P/E Exit $46.18 $68.47 $95.05 35
Earnings-Based
Graham-Dodd $24.99 $74.44 $98.57 54
Lynch FV $15.72 $22.45 $29.19 50
PEG = 1.0 $15.72 $22.45 $29.19 46
EPV $32.51 $37.03 $40.80 59
Multiples
P/E Multiple $57.87 $77.16 $96.46 63
P/S Multiple $46.85 $62.47 $78.08 58
P/B Multiple $46.85 $62.47 $78.08 55
EV/EBIT $66.85 $89.36 $111.87 53
EV/EBITDA $70.63 $94.40 $118.17 54
EV/Revenue $47.52 $68.18 $88.83 43
Asset-Based
NCAV (Graham) $20.48 $27.45 $40.97 50
Growth DCF
Growth DCF $45.13 $62.15 $83.22 80
Rev-Margin DCF $44.83 $70.30 $99.27 74
Economic Profit
Residual Income $32.92 $35.07 $38.65 76
ROIC Compounder $32.51 $37.03 $40.80 72
Growth Earnings
Growth-Adj P/E $47.15 $67.35 $87.56 68

Widest divergence: DCF Models ($68.47) versus Earnings-Based ($22.45). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) $548M
Revenue growth (YoY) +19.1%
Net margin 7.7%
Return on equity 10.7%
Free cash flow $47.1M FY2025
P/E ratio 32.8
More key figures
Operating margin 9.2%
EPS (TTM) $4.25
EPS growth (YoY) +177%
Net debt $101M FY2025

Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 67/100

Of which business quality 66 · Market factors (momentum, volatility) 76

Profitability 44
Margins and returns on capital today
Quality Growth 55
Are margins and returns improving?
Cashflow 62
Earnings quality: real cash, not paper profit
Fin. Strength 74
Balance sheet, leverage, solvency risk
Investment 84
Disciplined investing over empire-building
Low Volatility 47
Calm price path (market factor)
Momentum 88
Price trend over the last 3–12 months (market factor)
52W Momentum 88
Distance to the 52-week high (market factor)
Net Issuance 89
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

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).

Full company description

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.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

NWPX Infrastructure, Inc 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.

Growth Quality 88/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
$526M
Latest YoY
+6.8%
Avg. growth/yr (3Y)
+4.8%
Avg. growth/yr (5Y)
+13.0%
Avg. growth/yr (31Y)
+6.6%
Revenue +12.1%/yr
FY21 $333M
FY22 $458M
FY23 $444M
FY24 $493M
FY25 $526M
Net income +32.4%/yr
FY21 $11.5M
FY22 $31.1M
FY23 $21.1M
FY24 $34.2M
FY25 $35.4M

NWPX screens 42% overvalued. Compare with Tata Steel Limited →

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Cite: Fair Value Calculator (2026). "NWPX Infrastructure, Inc Fair Value". https://www.fairvalue-calculator.com/stock/NWPX

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Steel · 378 stocks

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.

Quality Score 67 · Top 25%
Fair Value upside −42% · Below median
Return on equity (TTM) 11% · Top 25%
Return on assets 6% · Top 25%
Net margin (TTM) 8% · Top 25%
Operating margin (TTM) 9% · Above median
Revenue growth 19% · Top 25%
Debt / equity 0.02× · Lower than median

Valuation Multiples vs Steel median · lower = cheaper

P/E (TTM) 32.8× · Pricier than 75% of peers
P/B 3.40× · Pricier than 75% of peers
P/S (TTM) 2.45× · Pricier than 75% of peers
P/FCF 28.5× · Pricier than 75% of peers
EV/EBITDA 17.7× · Pricier than 75% of peers
PEG 2.77× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 20
FUTURE 96 · sector 4
PAST 43 · sector 15
HEALTH 99 · sector 95
DIVIDEND 0 · sector 41

VALUE 0: the price sits above our fair-value range.

Insider activity: 40/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Steel stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).

Stock Price Fair Value vs Fair Value
Tata Steel Limited TTST $0.2010 $0.2000 -0%
JSW Steel Limited JSWSTEEL ₹1,227 ₹1,140 -7%
Baoshan Iron & Steel Co 600019 ¥5.89 ¥8.07 +37%
China Steel Corporation 2002A 38.55 TWD 8.74 TWD -77%
POSCO Holdings 005490 313,500 KRW 155,270 KRW -50%
Companhia Siderúrgica Nacional, SID 13,670 ARS 15,940 ARS +17%
Jindal Steel Limited JINDALSTEL ₹1,028 ₹545.12 -47%
Lloyds Metals and Energy Limited LLOYDSME ₹1,844 ₹1,098 -40%
Gerdau S.A GGBN 83.50 MXN 42.64 MXN -49%
Ternium S.A TXR 17,780 ARS 27,210 ARS +53%

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Frequently asked questions

Is NWPX Infrastructure, Inc (NWPX) overvalued or undervalued?
As of Jul 18, 2026, our model estimates a fair value of $69.15 versus a price of $119.72, about −42% (overvalued).
What is the fair value of NWPX?
Our model-based fair value for NWPX Infrastructure, Inc is $69.15 (as of Jul 18, 2026), built from audited fundamentals. The current price is $119.72.
What is the quality score of NWPX?
NWPX Infrastructure, Inc has a Quality Score of 67/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of NWPX Infrastructure, Inc (NWPX)?
NWPX Infrastructure, Inc reported trailing-twelve-month revenue of about $548M (latest available figure, as of Jul 18, 2026).
What is the net profit margin of NWPX?
The net profit margin of NWPX Infrastructure, Inc is about 7.7%, meaning it keeps roughly 7.7% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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