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Northwest Pipe NWPX Q4 2025 Annual earnings

Reported February 25, 2026 · After market close

Revenue$125.6MBeat by $3.6M
EPS$0.93Beat by $0.31
Revenue estimate$122.0M
EPS estimate$0.62

Next report

Date not yet announced

Financials

Q4 2025

Income statement

See full
Revenue$125.6M+5.0%
Gross profit$26.8M+19.2%
Operating income$13.0M+24.1%
Net income$8.9M-12.1%
EPS (diluted)$0.90-10.0%

Balance sheet

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Cash & equivalents$2.3M-54.6%
Total debt$109.6M+0.6%
Total equity$394.8M+5.6%
Total assets$579.6M-1.7%

Cash flow

See full
Operating cash flow$36.0M-0.2%
CapEx$5.2M+24.4%
Free cash flow$30.8M-3.5%

Valuation & ratios

Valuation

as of 12/31/25
See full
Market cap$600.51M+25.5%
Enterprise value$707.88M+21.5%
P/E17×+3.0×
P/S1.1×+0.2×

Profitability

See full
Gross margin19.7%+0.3pp
Operating margin9.7%-0.1pp
Net margin6.7%-0.2pp
FCF margin9%+2.0pp

Returns & leverage

See full
Return on equity9.2%-0.4pp
Debt / equity0.3×0.0×
Current ratio3.8×+0.3×

Segments

By segment

See full
Water Transmission Systems$84.0M—
Precast Infrastructure And Engineered Systems$41.7M+12.2%

By geography

See full
US$121.9M+2.6%
CA$9.6M+120%

Versus estimates

Revenue

Q2 2026$159.5MBeat by $4.8MQ1 2026$138.3MBeat by $13.1M
Q4 2025$125.6MBeat by $3.6M
Q3 2025$151.1MBeat by $29.1MQ2 2025$133.2MBeat by $12.2MQ1 2025$116.1MBeat by $4.2M

Diluted EPS

Q2 2026$1.62Beat by $0.29Q1 2026$1.08Beat by $0.40
Q4 2025$0.93Beat by $0.31
Q3 2025$1.38Beat by $0.36Q2 2025$0.91Beat by $0.19Q1 2025$0.39Miss by $0.14

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Questions, answered.

When did Northwest Pipe report Q4 2025 earnings?
Northwest Pipe (NWPX) reported Q4 2025 earnings on February 25, 2026 after market close.
What were Northwest Pipe's Q4 2025 revenue and EPS?
Northwest Pipe reported revenue of $125.6M and eps of $0.93 for Q4 2025.
Did Northwest Pipe beat estimates in Q4 2025?
Revenue beat the consensus estimate of $122.0M by $3.6M. EPS beat the consensus estimate of $0.62 by $0.31.
How did Northwest Pipe's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 5.0% from $119.6M a year earlier and eps declined 7.0% from $1.00.
Where can I find Northwest Pipe's Q4 2025 SEC filings?
You can read the 8-K earnings release (0001437749-26-005605) and the 10-K periodic report (0001437749-26-005861) directly on SEC EDGAR. The filing index links above go to sec.gov.