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Northwest Pipe NWPX Water Transmission Systems — Number Of Major Customers

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Other financials

Income statement

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Revenue$138.3M+19.1%
Gross profit$26.7M+37.7%
Operating income$12.7M+127%
Net income$10.5M+166%
EPS (diluted)$1.08+177%

Balance sheet

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Cash & equivalents$14.3M+170%
Total debt$102.4M-0.8%
Total equity$403.7M+6.7%
Total assets$634.1M+8.9%

Cash flow

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Operating cash flow$29.3M+504%
CapEx$3.5M-5.5%
Free cash flow$25.8M+2,090%

Valuation

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Market cap$1.38B+271%
Enterprise value$1.47B+213%
P/E33×+21.6×
P/S2.5×+1.8×

Profitability

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Gross margin20.2%+1.1pp
Operating margin10.6%+1.5pp
Net margin7.7%+1.0pp
FCF margin13.1%-0.3pp

Returns & leverage

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Return on equity10.7%+1.6pp
Debt / equity0.3×0.0×
Current ratio2.7×-1.3×

Where this comes from

Reported directly by Northwest Pipe in its filing.

Tagged under the XBRL concept nwpx:NumberOfMajorCustomers.

The official record: Northwest Pipe’s 10-K, filed February 26, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Northwest Pipe's water transmission systems — number of major customers?
Northwest Pipe (NWPX) reported water transmission systems — number of major customers of 0 in Q4 2025.
What is the long-term trend for Northwest Pipe's water transmission systems — number of major customers?
Over 2 years (2023 to 2025), Northwest Pipe's water transmission systems — number of major customers has grown at a -100.0% compound annual growth rate (CAGR), from 1 to 0.
What does water transmission systems — number of major customers mean?
This metric tracks the count of significant customers that contribute a substantial portion of the revenue within the water transmission segment. It is a vital indicator of customer concentration risk and the stability of the segment's revenue base. A lower number of major customers may suggest high dependency on specific projects or entities, while a higher number indicates a more diversified and resilient client portfolio.