NWPX Infrastructure, Inc.
NWPX Basic Materials Steel
NWPX Infrastructure, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $526.0 million, up 6.79% from fiscal 2024. In the quarter to June 2026, revenue grew 19.7%, EPS grew 80.2%, free cash flow grew 410.9% and total debt fell 77.1%, each against the same quarter a year earlier. Operating cash flow growth for three consecutive years.
Follow NWPX
NWPX Infrastructure, Inc. (NWPX) Altman Z-score
NWPX Infrastructure, Inc.'s Altman Z-score for fiscal 2025 is 4.24, in the safe zone (above 2.99).
Altman Z-score, annual
Embed this chart
Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 4.24 | 0.84 |
| FY2024 | 3.40 | 0.92 |
| FY2023 | 2.48 | (0.05) |
| FY2022 | 2.54 | 0.35 |
| FY2021 | 2.18 | (1.44) |
| FY2020 | 3.63 | (1.89) |
| FY2019 | 5.52 | 1.26 |
| FY2018 | 4.26 | (1.00) |
| FY2017 | 5.26 | 0.54 |
| FY2016 | 4.72 | 1.86 |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.32 | — | 0.38 | |
| Retained earnings / total assets | 0.49 | — | 0.68 | |
| EBIT / total assets | 0.09 | — | 0.29 | |
| Market value of equity / total liabilities | 3.30 | — | 1.98 | |
| Sales / total assets | 0.91 | — | 0.91 | |
| Altman Z-score | Safe zone | 4.24 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 6.51 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| MSB Mesabi Trust compare | 70.4× |
| SIM Grupo Simec, S.A. de C.V. compare | 6.7× |
| NWPX NWPX Infrastructure, Inc. | 4.2× |
| FRD Friedman Industries Inc. compare | 3.7× |
| WS Worthington Steel, Inc. compare | 3.0× |
| MTUS Metallus Inc. compare | 2.1× |
| SID National Steel Company compare | 0.7× |
| ASTL Algoma Steel Group Inc. compare | −1.0× |
| MTL Mechel PAO compare | — |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets