Saturday 17 October 2026 Export NL’s income statement to Excel — free account

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. In the quarter to June 2026, revenue grew 8.05%, EPS grew 1,700.0%, free cash flow grew 65.7% and total debt was flat, each against the same quarter a year earlier.

6.63 0.12 −1.78%

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Market cap: $330.1M
P/E: 0.0×
Fwd P/E: 9.8×
Dividend yield: 5.88%
F-score: 4/9
Altman Z: 3.36
Beneish M: −2.58
Dividend safety: 20/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 83.00%

Capital & Financial Ratios $m

Market Cap 330.07

Revenue 161.83

Net Income (22.76)

Free Cash Flow 8.11

Net Debt (109.62)

Current Ratio 9.02

Debt/Equity 0.00

P/E ratio 0.00

Fwd P/E 9.82

P/S ratio 2.00

P/B ratio 0.85

Past 5Y EPS Growth —

This Y EPS Growth (58.70%)

Next Y EPS Growth 52.63%

Next Y revenue growth 18.60%

Next 5Y EPS Growth (14.25%)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/S against its own 10 years 46.48%

10-year low 10-year high

P/B against its own 10 years 53.59%

10-year low 10-year high

EV/Sales against its own 10 years 63.16%

10-year low 10-year high

EV/FCF against its own 10 years 94.55%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate 0.39

Annual Dividend Yield 5.88%

	total	individual payouts
2026	0.30	0.10 0.10 0.10
2025	0.36	0.09 0.09 0.21 0.09 0.09
2024	0.32	0.08 0.08 0.43 0.08 0.08
2023	0.28	0.07 0.07 0.07 0.07
2022	0.28	0.07 0.07 0.35 0.07 0.07
2021	0.24	0.06 0.06 0.06 0.06
2020	0.16	0.04 0.04 0.04 0.04
2019	Powerpack
2018	Powerpack
2017	Powerpack
2016	Powerpack

special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	168	184	114	110
Receivables	18	24	14	20
Inventory	31	28	30	32
Other	—	—	—	—
	218	238	160	164

	2023	2024	2025	Q'26
Payables	3	4	3	4
ST’ Debt	—	—	—	—
Other	—	—	—	—
	30	91	21	18

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%)

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	41	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	—	—	—
’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	—	—	—
’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.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.09	0.18	—	—	—
’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.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	1.92	5.25	2.95	3.04	2.28	4.46	5.54	4.46	5.00	5.04	Analyst estimates 2026–2028 Powerpack
	High	9.60	16.05	14.80	5.45	5.40	8.50	10.71	7.64	9.42	9.27
People
People	Employees	516	520	547	547	513	570	609	555	510	549
	Revenue/emp, $m	0.21	0.22	0.22	0.23	0.22	0.25	0.27	0.29	0.29	0.29
Income, $m
Income, $m	Revenue	109	112	118	124	115	141	167	161	146	158
	Gross margin, %	32.29	31.08	32.37	31.36	28.68	30.36	29.30	30.52	28.34	30.44
	EBT	14	112	(54)	29	14	61	39	(6)	83	(51)
	EBT margin, %	12.78	100.14	(46.00)	23.03	11.86	43.20	23.56	(3.98)	57.09	(32.49)
	Net income	17	118	(39)	28	16	53	36	1	69	(35)
	Depreciation	4	4	3	4	4	4	4	4	4	4
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
	Earnings	0.31	2.38	(0.84)	0.53	0.30	1.05	0.69	(0.05)	1.38	(0.77)
	Cash flow	0.57	0.38	0.35	0.56	0.39	0.36	0.55	0.76	0.52	(0.75)
	Capex	(0.07)	(0.06)	(0.06)	(0.06)	(0.04)	(0.08)	(0.08)	(0.02)	0.07	(0.08)
	Free cash flow	0.50	0.32	0.29	0.50	0.35	0.28	0.48	0.73	0.60	(0.82)
	Book value	3.99	7.25	6.23	6.71	6.88	7.89	8.25	8.02	8.52	7.71
	Shares, m	49	49	49	49	49	49	49	49	49	49
Valuation, ×
Valuation, ×	P/E	26.56	5.55	0.00	7.38	15.93	7.05	9.36	0.00	5.63	0.00
	P/S	3.80	5.74	1.45	1.53	2.04	2.56	1.89	1.68	2.60	1.69
	P/B	2.13	1.82	0.56	0.58	0.70	0.94	0.78	0.69	0.91	0.71
	EV/Sales	2.92	4.84	0.44	0.47	0.82	1.50	1.04	0.64	1.35	0.97
	EV/FCF	12.96	34.23	3.69	2.42	5.43	15.67	7.49	2.88	6.74	(3.84)
Cash, $m
Cash, $m	Operating cash flow	28	19	17	27	19	18	27	37	26	(36)
	Capex	(3)	(3)	(3)	(3)	(2)	(4)	(4)	(1)	4	(4)
	Free cash flow	24	16	14	24	17	14	23	36	29	(40)
Balance, $m
Balance, $m	Working capital	93	111	85	135	144	163	162	188	147	139
	Total debt	1	1	1	1	1	1	1	1	1	1
	Net debt	(96)	(101)	(119)	(132)	(139)	(149)	(141)	(167)	(183)	(113)
	Shareholders’ equity	194	353	304	327	335	385	403	392	416	377
Returns, %
Returns, %	ROA	4.17	24.79	(7.47)	4.68	2.66	8.95	5.61	(0.39)	11.64	(7.26)
	ROIC	(0.46)	0.42	(20.60)	(0.51)	0.75	2.78	3.28	3.93	10.17	2.53
	ROE	8.53	42.42	(12.49)	8.19	4.43	14.21	8.59	(0.58)	16.65	(9.54)

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
CXW CoreCivic, Inc.	$3.1B	24.1×	14.7×	+27.27% (above 0%: growing)	+8.57% (above 0%: growing)	+55.25% (above 0%: growing)	21.74%	10.07%	Compare
NSSC NAPCO Security Technologies, Inc.	$1.3B	29.4×	21.5×	+10.02% (above 0%: growing)	+51.52% (above 0%: growing)	+19.89% (above 0%: growing)	61.31%	33.02%	Compare
EVLV Evolv Technologies Holdings, Inc.	$757.1M	— (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	$658.6M	25.0×	17.0×	+4.17% (above 0%: growing)	+140.00% (above 0%: growing)	+156.37% (above 0%: growing)	29.23%	6.70%	Compare
CIX CompX International Inc.	$459.9M	20.1×	12.8×	+8.05% (above 0%: growing)	+34.09% (above 0%: growing)	+79.73% (above 0%: growing)	35.62%	20.45%	Compare
NL NLI Holdings, Inc.	$330.1M	— (loss-making)	9.8×	+8.05% (above 0%: growing)	+1,700.00% (above 0%: growing)	+65.68% (above 0%: growing)	35.62%	14.06%
CIGL Concorde International Group Ltd.	$62.3M	—	—	—	—	−980.96% (below 0%: shrinking)	—	—	Compare
SPCB SuperCom, Ltd.	$58.4M	— (loss-making)	16.6×	+13.28% (above 0%: growing)	−20.00% (below 0%: shrinking)	−109.90% (below 0%: shrinking)	60.37%	10.61%	Compare
SNT Senstar Technologies Ltd.	$32.7M	104×	—	+8.21% (above 0%: growing)	−70.00% (below 0%: shrinking)	+251.01% (above 0%: growing)	64.20%	3.29%	Compare
Median of peers	$559.2M	25.0×	16.6×	+10.02%	+21.33%	+67.49%	50.17%	10.07%

All 22 Security & Protection Services stocks →

NLI Holdings, Inc. (NL) key facts

Concern: NLI Holdings, Inc. reported a net loss of $35.4 million, or a loss of $0.77 per share, for fiscal 2025.
Strength: NLI Holdings, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $158.3 million, up 8.46% from fiscal 2024.
NLI Holdings, Inc. (NL) is a Security & Protection Services company in the Industrials sector, listed on the New York Stock Exchange.
As of October 16, 2026, NL traded at $6.63, a market capitalization of $330.1 million.
Trailing earnings are negative, so a P/E ratio is not meaningful; the stock trades at 2.0× sales.
NLI Holdings, Inc. pays an annual dividend of $0.39 per share, a yield of 5.88%.
Return on equity was −9.54% and debt-to-equity 0.00.
Its Piotroski F-score is 4 out of 9 and its Altman Z-score is 3.36 (safe zone) for fiscal 2025.