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Northwest Pipe Company (NWPX)



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Upturn Advisory Summary
04/01/2025: NWPX (1-star) is currently NOT-A-BUY. Pass it for now.
Analysis of Past Performance
Type Stock | Historic Profit -23.22% | Avg. Invested days 32 | Today’s Advisory PASS |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Small-Cap Stock | Market Capitalization 413.81M USD | Price to earnings Ratio 12.15 | 1Y Target Price 57 |
Price to earnings Ratio 12.15 | 1Y Target Price 57 | ||
Volume (30-day avg) 87623 | Beta 1.09 | 52 Weeks Range 31.16 - 57.76 | Updated Date 03/31/2025 |
52 Weeks Range 31.16 - 57.76 | Updated Date 03/31/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) 3.4 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date 2025-03-03 | When Before Market | Estimate 0.9133 | Actual 0.77 |
Profitability
Profit Margin 6.95% | Operating Margin (TTM) 8.82% |
Management Effectiveness
Return on Assets (TTM) 5.08% | Return on Equity (TTM) 9.58% |
Valuation
Trailing PE 12.15 | Forward PE 11.81 | Enterprise Value 537682507 | Price to Sales(TTM) 0.84 |
Enterprise Value 537682507 | Price to Sales(TTM) 0.84 | ||
Enterprise Value to Revenue 1.09 | Enterprise Value to EBITDA 8.01 | Shares Outstanding 9935300 | Shares Floating 9660584 |
Shares Outstanding 9935300 | Shares Floating 9660584 | ||
Percent Insiders 2.72 | Percent Institutions 84.41 |
Analyst Ratings
Rating 4 | Target Price 56.33 | Buy - | Strong Buy 1 |
Buy - | Strong Buy 1 | ||
Hold 1 | Sell - | Strong Sell - | |
Strong Sell - |
Upturn AI SWOT
Northwest Pipe Company

Company Overview
History and Background
Northwest Pipe Company was founded in 1966. Initially focused on manufacturing smaller diameter steel pipe, it expanded its product line and geographic reach through organic growth and acquisitions, becoming a leading manufacturer of engineered steel pipe systems.
Core Business Areas
- Water Transmission: Manufactures engineered steel pipe for water and wastewater infrastructure, including transmission pipelines, pumping stations, and storage facilities.
- Prestressed Concrete Pipe (PCP): Manufactures and installs prestressed concrete pipe, typically larger diameter pipes than steel transmission pipe.
- Energy Products: Produces pipe for a variety of energy applications, mainly in the United States market.
Leadership and Structure
The leadership team consists of Scott Montross (President & CEO), Aaron Wilkins (CFO), and several VPs overseeing different divisions. The company operates with a functional organizational structure.
Top Products and Market Share
Key Offerings
- Water Transmission Pipe: Engineered steel pipe systems for water and wastewater infrastructure. Competitors include American Cast Iron Pipe Company (ACIPCO), and Thompson Pipe Group.
- Prestressed Concrete Pipe: PCP for water and wastewater applications. Market share data is difficult to obtain precisely but Northwest Pipe Company is a key player in the Western US. Competitors include Thompson Pipe Group, Ameron Water Transmission Group.
- Energy Pipe: Pipe products for energy-related applications. Competitors include EVRAZ North America.
Market Dynamics
Industry Overview
The engineered steel pipe industry is influenced by infrastructure spending, population growth, and environmental regulations. Demand is tied to municipal water projects and energy-related infrastructure projects.
Positioning
Northwest Pipe Company is a leading manufacturer of engineered steel pipe systems in North America, with a strong presence in the water transmission market. Its competitive advantages include manufacturing capacity, engineering expertise, and geographic coverage.
Total Addressable Market (TAM)
The TAM for engineered steel pipe and related products in North America is estimated to be several billion dollars annually. Northwest Pipe Company's positioning allows it to capture a significant portion of this market, with continued opportunity for growth.
Upturn SWOT Analysis
Strengths
- Strong market position
- Extensive product line
- Engineering expertise
- Manufacturing capacity
- Established customer relationships
Weaknesses
- Dependence on infrastructure spending
- Exposure to raw material price fluctuations
- Concentration of revenue in certain regions
- High capital expenditures
Opportunities
- Increased infrastructure investment
- Expansion into new geographic markets
- Development of innovative products
- Acquisition of complementary businesses
Threats
- Economic downturns
- Competition from other pipe manufacturers
- Changes in government regulations
- Raw material price volatility
Competitors and Market Share
Key Competitors
- ACIPCO
- TISI
- EVRAZ
Competitive Landscape
Northwest Pipe Company competes on price, quality, and service. Its strengths include engineering expertise and manufacturing capacity. Key competitors include ACIPCO, Thompson Pipe Group, and EVRAZ.
Major Acquisitions
Geneva Pipe and Precast
- Year: 2021
- Acquisition Price (USD millions): 78.5
- Strategic Rationale: Expanded presence in the precast concrete market and broadened product offerings.
Growth Trajectory and Initiatives
Historical Growth: Northwest Pipe Company has experienced growth in recent years, driven by increased demand for water infrastructure and strategic acquisitions.
Future Projections: Analysts project continued growth for Northwest Pipe Company, driven by infrastructure spending and market expansion. Growth rates are projected in the mid single digits.
Recent Initiatives: Recent initiatives include investments in manufacturing capacity, geographic expansion, and new product development.
Summary
Northwest Pipe Company is a key player in the engineered steel pipe industry, benefiting from infrastructure spending trends. Recent performance shows growth, but also profit margin pressures. Continued investment in capacity and strategic acquisitions are important, and close monitoring of raw material costs and economic cycles is necessary to maintain profitability.
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Sources and Disclaimers
Data Sources:
- Company SEC Filings (10-K, 10-Q)
- Investor Presentations
- Analyst Reports
- Industry Research Reports
Disclaimers:
This analysis is based on publicly available information and is for informational purposes only. It should not be considered investment advice. Market share data are estimates and may not be precise.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Northwest Pipe Company
Exchange NASDAQ | Headquaters Vancouver, WA, United States | ||
IPO Launch date 1995-11-30 | President, CEO & Director Mr. Scott J. Montross | ||
Sector Industrials | Industry Metal Fabrication | Full time employees 1358 | Website https://www.nwpipe.com |
Full time employees 1358 | Website https://www.nwpipe.com |
Northwest Pipe Company, together with its subsidiaries, engages in the manufacture and sale of water-related infrastructure products in North America and Canada. It operates through two segments, Engineered Steel Pressure Pipe (SPP) and Precast Infrastructure and Engineered Systems (Precast). The SPP segment provides large-diameter and 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. In addition, this segment makes products for industrial plant piping systems and certain structural 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, steel casing pipes, and bar-wrapped concrete cylinder pipes, as well as pipeline system joints, fittings, specialized components, and other environmental and engineered solutions. The company sells its water infrastructure products under the ParkUSA, Geneva Pipe and Precast, Permalok, and Northwest Pipe Company brands primarily to installation contractors. Northwest Pipe Company was incorporated in 1966 and is headquartered in Vancouver, Washington.
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