# NPK International Inc. (NPKI)

> Source: Nexqual · https://nexqual.com/NPKI · data as of 2026-10-23 20:00 UTC · cite as "Nexqual, NPK International Inc. (NPKI), nexqual.com/NPKI" · informational, not investment advice.

**Price:** USD 10.89 (+1.21% on the day) · last close of Oct 23, 2026; US market closed, not a live price. Prev close 10.76 · day 10.54–10.97 · 52w 10.51–16.5 · market cap $925M · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $301M, net income $42.7M (14.2% margin), free cash flow $27.6M (SEC filings).
- Valuation: P/E 21.7x (avg 33.3x at the last 2 fiscal year-ends), EV/EBITDA 11.3x, net debt $2.2M.
- 1 of 80 tracked superinvestors hold NPKI (13F, Q2 2026): 0 new, 1 added, 0 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 8 Form 4 filings, $3.2M; 0 not under a Rule 10b5-1 plan ($0K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Total return with dividends: 1Y -15.9% vs S&P 500 +13.4%; 5Y +220.3% vs S&P 500 +76.9%.
- Next earnings: 2026-10-29, EPS estimate USD 0.12, revenue estimate $76.7M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $615M | $193M | $208M | $217M | $277M | $301M |
| Gross profit | $85.2M | $60.0M | $72.6M | $77.1M | $101M | — |
| Operating income | -$8.8M | $6.5M | $22.9M | $32.4M | $46.8M | $52.1M |
| Net income | -$25.5M | -$20.8M | $14.5M | -$150M | $38.9M | $42.7M |
| EPS (diluted) | -$0.28 | -$0.22 | $0.16 | -$1.72 | $0.45 | — |
| Free cash flow | -$24.8M | -$53.3M | $70.8M | -$5.4M | $26.3M | $27.6M |
| Gross margin | 13.9% | 31.1% | 34.9% | 35.5% | 36.4% | — |
| Operating margin | -1.4% | 3.4% | 11.0% | 14.9% | 16.9% | 17.3% |
| Net margin | -4.2% | -10.8% | 7.0% | -69.1% | 14.1% | 14.2% |
| Revenue growth | +24.8% | -68.6% | +7.6% | +4.7% | +27.4% | — |
| Cash + short-term investments | $24.1M | $86K | $789K | $17.8M | $5.1M | — |
| Total debt | $115M | $114M | $62.0M | $7.7M | $16.9M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 21.7x · P/S 3.1x · EV/EBITDA 11.3x · EV/Sales 3.1x · P/FCF 33.5x · P/B 2.5x · FCF yield 2.98% · Earnings yield 4.62% · Buyback yield (TTM) 1.00% · Net debt $2.2M · EV $927M
P/E at fiscal year-ends: Dec 2025 26.2x, Dec 2023 40.4x.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold NPKI. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| First Eagle Investment | First Eagle Investment Management | 0.02% | $11.5M | Added +163.3% |

## Insider sales (SEC Form 4, open-market, last ~7 months)
8 of 8 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-09-09 | Warren Matthew James | Chief Accounting Officer | 2,991 | $40K | 5.5% | Yes (adopted December 17, 2025) | Too little history (no open-market trades in 2023–2025) |
| 2026-08-27 | Robeson Rose M | Director | 10,000 | $135K | 4.4% | Yes (adopted May 27, 2026) | Too little history (no open-market trades in 2023–2025) |
| 2026-08-17 | Lewis Michael A | Director | 2,013 | $29K | 1.5% | Yes (adopted March 7, 2025) | Too little history (no open-market trades in 2023 or 2024) |
| 2026-06-08 | Briggs Lori | VP & President, Ind. Solutions | 8,325 | $123K | 3.3% | Yes (adopted December 15, 2025) | Too little history (no open-market trades in 2023 or 2024) |
| 2026-06-03 | Lanigan Matthew | President & CEO | 167,375 | $2.4M | 14% | Yes (adopted March 4, 2026) | Too little history (no open-market trades in 2023 or 2024) |
| 2026-06-02 | Briggs Lori | VP & President, Ind. Solutions | 10,446 | $152K | 3.9% | Yes (adopted December 15, 2025) | Too little history (no open-market trades in 2023 or 2024) |
| 2026-05-15 | Lewis Michael A | Director | 2,013 | $31K | 1.5% | Yes (adopted March 7, 2025) | Too little history (no open-market trades in 2023 or 2024) |
| 2026-04-09 | Piontek Gregg | Senior Vice President and CFO | 15,000 | $226K | 1.7% | Yes (adopted December 3, 2025) | Too little history (no open-market trades in 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-24) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | -15.9% | +220.3% |
| S&P 500 (SPY) | +13.4% | +76.9% |
| Per year | -16.0% | +26.2% |
| Volatility (annualized) | 40.4% | 47.3% |
| Max drawdown | -34.7% (Apr 2026→Oct 2026) | -46.6% (Mar 2022→Sep 2022) |

## Peers (Building Products & Equipment)
NX (Quanex Building Products Corpor) USD 20 -3.15% · APOG (Apogee Enterprises, Inc.) USD 43.63 -1.49% · SWIM (Latham Group, Inc.) USD 6.65 +1.61% · ROCK (Gibraltar Industries, Inc.) USD 38.83 -1.12% · ARLO (Arlo Technologies, Inc.) USD 13.03 +3.41% · JBI (Janus International Group, Inc.) USD 4.45 -1.55%

## More
Full page: https://nexqual.com/NPKI · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Rental Revenue | $37.2M | 45.6% | +17.5% |
| Product sales revenues | $28.0M | 34.4% | +27.9% |
| Service | $16.3M | 20.0% | +11.5% |
| Total revenue | $81.6M | 100% | — |

## Revenue by region (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| United States | $71.5M | 87.7% | +13.0% |
| United Kingdom | $10.1M | 12.3% | +104.7% |
| Total revenue | $81.6M | 100% | — |

## Customer concentration

Period ended 2024-12-31: 19% of revenue from unnamed direct customers (10-K, filed 2026-02-27).

## Company outlook (8-K filed 2026-07-29)

- "Raises full-year earnings guidance THE WOODLANDS, TEXAS – July 29, 2026 – NPK International Inc."
- "Supported by sustained market strength and an ongoing focus on operational excellence, we are well positioned for continued strength in the second half of 2026 and have raised our full year earnings guidance."
- "With minimal net debt and nearly $150 million of availability under our bank facility, we are well positioned to pursue our strategic growth and capital allocation priorities. "The outlook for utility transmission spending remains robust, driven by projected load growth, an aging infrastructure, and the need to connect new capacity to the grid."
- "Revenues from specialty rental and related services increased to $54 million in the second quarter of 2026, with record rental revenues driven by strong demand from key customer accounts in support of power transmission projects and the impact of our recent acquisition."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.12 | $0.12 | +0.0% | $76.7M | 3 |
| Next quarter (ends 2026-12-31) | $0.16 | $0.15 | +4.4% | $86.3M | 3 |
| Current fiscal year (ends 2026-12-31) | $0.55 | $0.53 | +3.8% | $319.7M | 3 |
| Next fiscal year (ends 2027-12-31) | $0.63 | $0.62 | +1.1% | $353.4M | 3 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-12-18 (includes earnings 2026-10-29): ±36.7%; last 8 reports averaged ±7.7%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-12-18 | 55 | 50.1% | ±36.7% |
| 2027-03-19 | 146 | 61.5% | ±31.0% |
| 2027-06-17 | 236 | 46.8% | ±30.5% |