NWPX
IndustrialsNWPX Infrastructure, Inc. · Manufacturing - Metal Fabrication · $1B
What is NWPX Infrastructure, Inc.?
NWPX Infrastructure, Inc. manufactures and sells water-related infrastructure products across North America. Formerly known as Northwest Pipe Company, it rebranded in June 2025 and serves drinking water, stormwater, wastewater, and hydroelectric markets.
NWPX operates through two segments. The Engineered Steel Pressure Pipe segment produces large-diameter, high-pressure steel pipeline systems for drinking water, wastewater, hydroelectric, and industrial applications. The Precast Infrastructure and Engineered Systems segment supplies reinforced concrete pipe, manholes, box culverts, stormwater technology products, and other engineered solutions. Products are sold primarily to installation contractors under several regional and specialty brands.
Incorporated in 1995 and headquartered in Vancouver, Washington, NWPX has built a multi-decade presence in engineered water infrastructure.
- Large-diameter steel pressure pipe systems
- Reinforced concrete pipe, manholes, and box culverts
- Stormwater and wastewater technology products
- Engineered pipeline joints, fittings, and specialized components
Is NWPX a Good Stock to Buy?
UQS Score rates NWPX as Below Average overall, reflecting a mixed profile across its five quality pillars.
The Risk pillar and Valuation pillar both carry favorable labels, suggesting the stock does not appear excessively priced relative to fundamentals and carries a manageable risk profile compared to sector peers.
The Moat pillar registers as Weak, pointing to limited competitive differentiation, while Quality and Growth both land at Neutral — leaving little standout strength to anchor a conviction case.
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Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does NWPX pay dividends?
No — NWPX Infrastructure, Inc. does not currently pay a dividend.
NWPX Infrastructure does not currently pay a dividend. For a capital-intensive manufacturer operating in infrastructure markets, retaining cash to fund production capacity, working capital, and potential acquisitions is a common strategic choice. Income-focused investors should factor this into their assessment.
When does NWPX report earnings?
NWPX Infrastructure reports earnings on a quarterly cadence, typical for US-listed equities.
Quarterly results for infrastructure manufacturers like NWPX tend to reflect project timing, municipal spending cycles, and raw material costs. Revenue recognition can be lumpy given the project-based nature of large pipeline contracts.
For the most recent quarter's results and guidance, visit NWPX Infrastructure's investor relations page directly.
NWPX Price History
+316.8% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in NWPX Infrastructure, Inc.?
Based on NWPX Infrastructure, Inc.'s historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
NWPX Long-term Outlook
With Growth and Quality both at Neutral, NWPX does not currently show the kind of accelerating fundamental trajectory that would signal a near-term re-rating. The favorable Risk label provides some downside cushion, and water infrastructure spending driven by aging municipal systems and federal funding programs could support steady demand. However, the Weak Moat label means pricing power may be limited when competing for contracts.
Growth drivers
- Aging water infrastructure across North American municipalities driving replacement demand
- Federal and state funding programs targeting drinking water and stormwater upgrades
- Expansion of the Precast segment into engineered environmental solutions
Key risks
- Weak competitive moat leaves NWPX exposed to price competition on large contracts
- Project-based revenue creates timing variability and potential margin pressure
- Raw material cost swings — particularly steel — can compress segment profitability
NWPX vs Peers
NWPX competes in the engineered infrastructure products space alongside several other small-cap industrials manufacturers.
Insteel focuses on steel wire reinforcing products for concrete construction, giving it a different end-market mix than NWPX's pressure pipe and precast segments.
Mayville Engineering serves diversified industrial end markets through metal fabrication and tube forming, with less concentration in water infrastructure than NWPX.
Proto Labs operates a digital manufacturing platform for custom parts, representing a technology-driven model that contrasts with NWPX's project-based infrastructure manufacturing.
Frequently Asked Questions
What does NWPX Infrastructure do?
NWPX Infrastructure manufactures water-related infrastructure products in North America. Its two segments produce large-diameter steel pressure pipe systems and precast concrete products — including manholes, culverts, and stormwater solutions — sold primarily to installation contractors serving municipal and industrial clients.
Does NWPX pay dividends?
NWPX Infrastructure does not currently pay a dividend. The company retains capital to support its manufacturing operations and project-based business. Investors seeking regular income should note this before evaluating the stock.
When does NWPX report earnings?
NWPX Infrastructure follows a standard quarterly reporting cadence for US-listed companies. For exact dates and the most recent results, check the investor relations section of the NWPX Infrastructure website.
Is NWPX a good stock to buy?
UQS Score rates NWPX as Below Average overall. The Risk and Valuation pillars are favorable, but the Weak Moat and Neutral Quality and Growth labels temper the overall picture. The complete pillar breakdown is available to UQS Pro members.
Is NWPX overvalued?
The UQS Valuation pillar for NWPX carries a favorable label, suggesting the stock does not appear significantly overpriced relative to its fundamentals. However, valuation alone does not determine investment quality — see the full analysis on UQS Pro.
How does NWPX compare to its competitors?
NWPX competes with other small-cap industrials manufacturers including Insteel Industries, Mayville Engineering, and Proto Labs. Each operates in distinct niches — NWPX's focus on water infrastructure pressure pipe and precast concrete sets it apart from more diversified or technology-driven peers.
What is NWPX's market cap bracket?
NWPX Infrastructure is classified as a small-cap company. Small-cap industrials can offer exposure to niche infrastructure markets but typically carry higher liquidity risk and greater earnings volatility than large-cap peers.
Who founded NWPX Infrastructure?
The company was incorporated in 1995 as Northwest Pipe Company and rebranded to NWPX Infrastructure, Inc. in June 2025. Founding details are publicly available through the company's historical filings and investor relations materials.
Is NWPX a long-term quality investment?
As a long-term quality indicator, NWPX's Below Average UQS Score reflects limited moat strength and only Neutral readings on Quality and Growth. The favorable Risk profile provides some stability, but long-term compounding potential depends on whether the company can build more durable competitive advantages over time.
What sector does NWPX belong to?
NWPX Infrastructure operates in the Industrials sector, specifically within engineered water infrastructure products. Its business is closely tied to municipal capital spending cycles, federal infrastructure funding, and the ongoing need to replace aging water systems across North America.
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Pro Analysis
NWPX — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| Jun 10, 2026 | 51.3 | 54.1 | 23.0 | 48.6 | 83.5 | 65.1 | -0.2 |
| Jun 9, 2026 | 51.5 | 54.4 | 23.0 | 48.6 | 83.5 | 66.0 | -0.3 |
| Jun 6, 2026 | 51.8 | 54.7 | 23.0 | 48.6 | 83.5 | 67.3 | +0.4 |
| Jun 5, 2026 | 51.4 | 54.2 | 23.0 | 48.6 | 83.5 | 65.6 | -0.2 |
| Jun 4, 2026 | 51.6 | 54.5 | 23.0 | 48.6 | 83.5 | 66.4 | 0.0 |
| Jun 3, 2026 | 51.6 | 54.5 | 23.0 | 48.6 | 83.5 | 66.6 | -0.1 |
| Jun 2, 2026 | 51.7 | 54.7 | 23.0 | 48.6 | 83.5 | 67.2 | -0.1 |
| May 30, 2026 | 51.8 | 54.7 | 23.0 | 48.6 | 83.5 | 67.4 | +0.2 |
| May 29, 2026 | 51.6 | 54.5 | 23.0 | 48.6 | 83.5 | 66.5 | +0.1 |
| May 28, 2026 | 51.5 | 54.3 | 23.0 | 48.6 | 83.5 | 66.1 | -0.3 |
NWPX — Pillar Breakdown
Quality
— 54.1/100 (25%)NWPX Infrastructure, Inc. has average quality metrics, with room for improvement in margins or capital efficiency.
How effectively capital is deployed to generate returns.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Asset productivity — how much gross profit each dollar of assets generates.
Free cash flow relative to market value.
Growth
— 48.6/100 (20%)NWPX Infrastructure, Inc. shows steady but unspectacular growth, typical for mature companies.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Analyst consensus for future earnings growth.
Risk
— 83.5/100 (15%)NWPX Infrastructure, Inc. carries minimal financial risk with conservative leverage and strong solvency.
Debt levels relative to earnings capacity.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 62.9/100 (15%)NWPX Infrastructure, Inc. trades at a reasonable valuation with decent earnings yield and FCF multiples.
Inverse of forward P/E — higher yield means cheaper stock.
How many years of FCF the market cap represents.
P/E relative to earnings growth — lower is more attractive.
Enterprise value multiple relative to sector median.
Moat
— 23/100 (25%)NWPX Infrastructure, Inc. operates in a highly competitive environment with limited sustainable advantages. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for NWPX.
Score Composition
Financial Data
More Stock Analysis
How is the NWPX UQS Score Calculated?
The UQS (Unified Quality Score) for NWPX Infrastructure, Inc. is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses NWPX Infrastructure, Inc.'s competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether NWPX Infrastructure, Inc. is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.