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NLI Holdings, Inc.

NL Industrials Security & Protection Services

NLI Holdings, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $158.3 million, up 8.46% from fiscal 2024.

Revenue
+10.1%
EPS
+262.5%
Free cash flow
+21.5%
Total debt
0.00%

Quarter to September 2026, against a year earlier

7.28 0.18 +2.54%
Market cap
$347.2M
P/E
0.0×
Fwd P/E
9.8×
Dividend yield
5.78%
F-score
4/9
Altman Z
3.36
Beneish M
−2.58
Dividend safety
20/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 83.01%

Capital & Financial Ratios $m

Size
Market Cap 347.18
Revenue ttm 165.87
Net income ttm (1.96)
Free cash flow ttm 9.60
Net debt Q (109.62)
Valuation
P/E 0.00
Forward P/E 9.82
Price / sales 1.99
Forward P/S Powerpack
Price / FCF 34.38
Price / book 0.84
Financial health
Current ratio Q 7.25 (at or above 1.5: strong)
Debt / equity Q 0.00 (at or below 0.5: strong)
Interest coverage Q 285.73
Growth
Revenue growth Q +10.12% (above 0%: growing)
Operating income growth Q +69.80% (above 0%: growing)
EPS, this year −58.70% (below 0%: weak)
EPS, next year A +52.63% (at or above 15%: strong)
Revenue, next year A +18.60% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A −14.25% (below 0%: weak)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.3×, against a ten-year median of 1.2×; over the ten years it ranged from 0.0× in 2016 to 5.7× in 2017.
P/S against its own 10 years 46.13%
10-year low 10-year high
P/B against its own 10 years 53.06%
10-year low 10-year high
EV/Sales against its own 10 years 63.28%
10-year low 10-year high
EV/FCF against its own 10 years 90.71%
10-year low 10-year high

Dividends

Yield
5.78%
Annual rate
0.39
Payout ratio
—
Growth, 2020–26
+11.0%/yr
  1. 0.16 ’20
  2. 0.24 ’21 +50
  3. 0.28 ’22 +17
  4. 0.28 ’23 +0
  5. 0.32 ’24 +14
  6. 0.36 ’25 +13
  7. 0.30 ’26 −17
paid change on the year, %

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 168 184 114 —
Receivables 18 24 14 19
Inventory 31 28 30 33
Other — — — —
218 238 160 169
2023 2024 2025 Q'26
Payables 3 4 3 7
ST’ Debt — — — —
Other — — — —
30 91 21 23

Compound Annual Growth %

10y 5y 3y
Sales 3.80% 6.68% (1.68%)
Cash Flow 0.00% 0.00% 0.00%
Earnings 0.00% 0.00% 0.00%
Book Value 8.59% 2.36% (2.20%)

Earnings Trends EPS, adjusted, against the consensus

Q3 FY16 Estimate 0.06 Actual 0.15

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY15 0.02 −0.11 Miss by 0.13
Q1 FY16 −0.07 −0.05 Beat by 0.02
Q2 FY16 −0.05 0.02 Beat by 0.07
Q3 FY16 0.06 0.15 Beat by 0.09

EPS $

Mar Jun Sep Dec Year
’26 0.09 0.18 0.26 — —
’25 0.01 0.01 (0.16) (0.63) (0.77)
’24 0.14 0.16 0.74 0.34 1.38
’23 (0.14) (0.06) 0.00 0.16 (0.05)
’22 0.38 0.62 (0.18) (0.13) 0.69
’21 0.27 0.26 0.21 0.31 1.05
’20 0.04 0.09 0.08 0.09 0.30
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 41 44 44 — —
’25 40 40 40 38 158
’24 38 36 34 38 146
’23 41 37 40 43 161
’22 42 42 43 40 167
’21 36 36 35 34 141
’20 32 24 28 30 115
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (4) 11 10 — —
’25 (47) 7 8 (4) (36)
’24 7 16 (6) 9 26
’23 7 14 (5) 22 37
’22 3 11 (1) 14 27
’21 2 12 (3) 7 18
’20 4 9 (3) 10 19
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (4) 10 8 — —
’25 (48) 6 7 (5) (40)
’24 6 15 (6) 14 29
’23 7 13 (6) 21 36
’22 1 10 (2) 14 23
’21 2 11 (4) 6 14
’20 3 8 (3) 9 17
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

5
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 109 112 118 124 115 141 167 161 146 158 166 +4.2% — — — —
Gross margin, % 32.29 31.08 32.37 31.36 28.68 30.36 29.30 30.52 28.34 30.44 32.50 (1.9) pt
EBT 14 112 (54) 29 14 61 39 (6) 83 (51) (11) n/m
EBT margin, % 12.78 100.14 (46.00) 23.03 11.86 43.20 23.56 (3.98) 57.09 (32.49) (6.42) (45.3) pt
Net income 17 118 (39) 28 16 53 36 1 69 (35) (2) n/m
Per share, $
Per share, $ Revenue 2.24 2.30 2.43 2.55 2.35 2.89 3.41 3.30 2.99 3.24 3.39 +4.2%
Earnings 0.31 2.38 (0.84) 0.53 0.30 1.05 0.69 (0.05) 1.38 (0.77) (0.10) n/m
Cash flow 0.57 0.38 0.35 0.56 0.39 0.36 0.55 0.76 0.52 (0.75) 0.27 n/m
Capex (0.07) (0.06) (0.06) (0.06) (0.04) (0.08) (0.08) (0.02) 0.07 (0.08) (0.08) +1.7%
Free cash flow 0.50 0.32 0.29 0.50 0.35 0.28 0.48 0.73 0.60 (0.82) 0.20 n/m
Book value 3.99 7.25 6.23 6.71 6.88 7.89 8.25 8.02 8.52 7.71 7.99 +7.6%
Shares, m 49 49 49 49 49 49 49 49 49 49 49 0.0%
Valuation, ×
Valuation, × P/E 26.56 5.55 0.00 7.38 15.93 7.05 9.36 0.00 5.63 0.00 0.00 7.7
P/S 3.80 5.74 1.45 1.53 2.04 2.56 1.89 1.68 2.60 1.69 1.99 2.5
P/B 2.13 1.82 0.56 0.58 0.70 0.94 0.78 0.69 0.91 0.71 0.84 1.0
EV/Sales 2.92 4.84 0.44 0.47 0.82 1.50 1.04 0.64 1.35 0.97 1.33 1.5
EV/FCF 12.96 34.23 3.69 2.42 5.43 15.67 7.49 2.88 6.74 (3.84) 22.96 8.8
Cash, $m
Cash, $m Operating cash flow 28 19 17 27 19 18 27 37 26 (36) 13 n/m
Capex (3) (3) (3) (3) (2) (4) (4) (1) 4 (4) (4) +1.7%
Free cash flow 24 16 14 24 17 14 23 36 29 (40) 10 n/m
Balance, $m
Balance, $m Working capital 93 111 85 135 144 163 162 188 147 139 146 +4.6%
Net debt (96) (101) (119) (132) (139) (149) (141) (167) (183) (113) (110) +1.8%
Shareholders’ equity 194 353 304 327 335 385 403 392 416 377 391 +7.6%
Returns, %
Returns, % ROA 4.17 24.79 (7.47) 4.68 2.66 8.95 5.61 (0.39) 11.64 (7.26) (1.00) (11.4) pt
ROIC (0.46) 0.42 (20.60) (0.51) 0.75 2.78 3.28 3.93 10.17 2.53 2.60 +3.0 pt
ROE 8.53 42.42 (12.49) 8.19 4.43 14.21 8.59 (0.58) 16.65 (9.54) (1.26) (18.1) pt
People
People Employees 516 520 547 547 513 570 609 555 510 549 — +0.7%
Revenue/emp, $m 0.21 0.22 0.22 0.23 0.22 0.25 0.27 0.29 0.29 0.29 — +3.5%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

NLI Holdings, Inc. vs peers in Security & Protection Services (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
GEO Geo Group Inc (The) $3.3B 11.8× 21.7× +15.08% (above 0%: growing) +71.43% (above 0%: growing) +2,422.02% (above 0%: growing) 27.51% 13.89% Compare
CXW CoreCivic, Inc. $2.8B 1.8× 2.0× +28.20% (above 0%: growing) +5,748.00% (above 0%: growing) −2,376.81% (below 0%: shrinking) 21.12% 8.98% Compare
NSSC NAPCO Security Technologies, Inc. $1.1B 24.4× 24.1× +1.65% (above 0%: growing) +6.97% (above 0%: growing) −79.75% (below 0%: shrinking) 58.73% 28.25% Compare
EVLV Evolv Technologies Holdings, Inc. $820.5M — (loss-making) — (loss-making) +34.44% (above 0%: growing) n/m +203.88% (above 0%: growing) 50.17% (24.11%) Compare
MG Mistras Group Inc $641.8M 30.7× 20.7× +4.64% (above 0%: growing) −48.36% (below 0%: shrinking) +54.93% (above 0%: growing) 30.32% 7.35% Compare
CIX CompX International Inc. $451.8M 19.2× 12.8× +10.12% (above 0%: growing) +29.41% (above 0%: growing) +46.26% (above 0%: growing) 29.62% 14.53% Compare
NL NLI Holdings, Inc. $347.2M — (loss-making) 9.8× +10.12% (above 0%: growing) n/m +21.50% (above 0%: growing) 29.62% 7.14%
SPCB SuperCom, Ltd. $52.1M 57.8× 41.9× +13.28% (above 0%: growing) −20.00% (below 0%: shrinking) −109.90% (below 0%: shrinking) 60.37% 10.61% Compare
CIGL Concorde International Group Ltd. $44.5M — — — — −980.96% (below 0%: shrinking) — — Compare
Median of peers $731.2M 21.8× 21.2× +13.28% +18.19% −16.74% 30.32% 10.61%

All 22 Security & Protection Services stocks →

NLI Holdings, Inc. (NL) Latest News

5 Nov

Impact 3 · · GlobeNewswire

23 Sep

Impact 4 · · Zacks

18 Aug

Impact 3 ·

6 May

Impact 4 · · GlobeNewswire

9 Mar

Impact 4 · · GlobeNewswire

8 Jan

Impact 3 · · Simply Wall St.

27 Nov

Impact 4 · · Simply Wall St.

6 Nov

Impact 4 ·
Impact 4 · · GlobeNewswire
Impact 3 · · Associated Press Finance

17 Oct

Impact 3 · · Simply Wall St.

15 Sep

Impact 4 · · Simply Wall St.

6 Aug

Impact 4 · · Associated Press Finance
Impact 4 ·

17 Jul

Impact 3 · · Simply Wall St.

17 Jun

Impact 3 ·

12 Jun

Impact 3 · · Simply Wall St.

16 May

Impact 3 · · Simply Wall St.

7 May

Impact 3 · · GlobeNewswire

1 May

Impact 4 · · Simply Wall St.

14 Apr

Impact 3 · · Simply Wall St.

11 Apr

Impact 3 ·

14 Mar

Impact 4 ·

10 Mar

Impact 4 ·
Impact 3 · · Simply Wall St.

7 Mar

Impact 3 · · Simply Wall St.

6 Mar

Impact 4 ·

1 Jan

Impact 4 ·

5 Dec

Impact 3 ·

8 Nov

Impact 4 · earnings
stockrow.com/NL · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com