NTIC on Nasdaq

NORTHERN TECHNOLOGIES INTERNATIONAL CORP

American coating company, incorporated in Delaware, listed on Nasdaq (NTIC). Summary from the record

Price unavailable

Last updated Oct 19, 2026.

Overview

$84.2MRevenue, fiscal 20252
$17.6KNet income, fiscal 20252

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  • TickerNTIC on Nasdaq1
  • IndustryCoating, Engraving & Allied Services1
  • HeadquartersCircle Pines, Minnesota1
  • Incorporated inDE3
  • Business address4201 Woodland Road, Po Box 69, Circle Pines, Mn 550143
  • Filer categoryNon-accelerated filer, Smaller reporting company3

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Northern Technologies International Corporation (NTIC) develops and markets proprietary, environmentally beneficial products and services in over 65 countries either directly or via a network of subsidiaries, joint ventures, independent distributors, and agents. NTIC’s primary business is corrosion prevention marketed mainly under the ZERUST® brand. NTIC has been selling its proprietary ZERUST® products and services to the automotive, general industrial, mechanical, mining, agricultural, and retail consumer markets for over 50 years and, more recently, has also expanded into the oil and gas industry. Additionally, NTIC markets and sells a portfolio of proprietary bio-based and certified compostable (fully biodegradable) polymer resin compounds and finished products under the Natur-Tec® brand. These sustainable packaging products are intended to reduce NTIC’s customers’ carbon footprint a…4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

37.6%Gross margin2
3.1%Operating margin2
0.0%Net margin2
-1.0%Revenue growth, 20252
0.0%Return on equity2
$916.5KFree cash flow2

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Business segments

Zerust brought in 74% of the revenue NORTHERN TECHNOLOGIES INTERNATIONAL CORP broke down this way in fiscal 2025.

  1. Zerust$62.5M274%down 1% from 2024
  2. Natur Tec$21.7M226%down 1% from 2024
Business segments by year
Business segments20242025
Zerust$63.1M$62.5M
Natur Tec$22.0M$21.7M

Regions

Inside the USA to Unaffiliated Customers brought in 25% of the revenue NORTHERN TECHNOLOGIES INTERNATIONAL CORP broke down this way in fiscal 2025.

  1. Inside the USA to Unaffiliated Customers$29.5M225%down 3% from 2024
  2. United States$29.5M225%down 3% from 2024
  3. India$22.6M219%up 2% from 2024
  4. China$16.2M214%up 14% from 2024
  5. Other Countries$9.3M28%down 24% from 2024
  6. BRMember$6.6M26%up 10% from 2024
  7. Joint Ventures in Which the Company is a Shareholder Directly and Indirectly Outside the USA$2.4M22%up 6% from 2024
Regions by year
Regions20242025
Inside the USA to Unaffiliated Customers$30.5M$29.5M
United States$30.5M$29.5M
India$22.2M$22.6M
China$14.2M$16.2M
Other Countries$12.1M$9.3M
BRMember$6.0M$6.6M
Joint Ventures in Which the Company is a Shareholder Directly and Indirectly Outside the USA$2.2M$2.4M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue62¢$52.6M
  • Research and development6¢$5.0M
  • Other costs29¢$24.6M
  • Income tax2¢$2.0M
  • Profit0¢$17.6K

Out of $84.2M in revenue.2

Where each dollar of operating cash went, fiscal 2025

  • Capital spending50¢$1.5M
  • Dividends paid50¢$1.5M

Out of $2.4M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.2

Financial statements

Revenue56789102$84.2M in 2025+498% since 2018
0$25.0M$50.0M$75.0M$100.0M2018: $14.1M$14.1M20182019: $55.8M$55.8M2019+296%2020: $47.6M$47.6M2020−15%2021: $56.5M$56.5M2021+19%2022: $74.2M$74.2M2022+31%2023: $79.9M$79.9M2023+8%2024: $85.1M$85.1M2024+6%2025: $84.2M$84.2M2025−1%
Gross profit116789102$31.7M in 2025+84% since 2018
0$10.0M$20.0M$30.0M$40.0M2018: $17.3M$17.3M20182019: $17.8M$17.8M2019+3%2020: $16.0M$16.0M2020−10%2021: $19.6M$19.6M2021+22%2022: $23.1M$23.1M2022+18%2023: $27.8M$27.8M2023+21%2024: $33.8M$33.8M2024+22%2025: $31.7M$31.7M2025−6%
Operating income116789102$2.6M in 2025−68% since 2018
0$2.5M$5.0M$7.5M$10.0M2018: $8.0M$8.0M20182019: $6.6M$6.6M2019−18%2020: $1.6M$1.6M2020−76%2021: $8.3M$8.3M2021+424%2022: $5.1M$5.1M2022−38%2023: $6.0M$6.0M2023+17%2024: $7.9M$7.9M2024+31%2025: $2.6M$2.6M2025−67%
Net income116789102$17.6K in 2025−100% since 2018
-$2.5M0$2.5M$5.0M$7.5M2018: $6.7M$6.7M20182019: $5.2M$5.2M2019−22%2020: -$1.3M-$1.3M20202021: $6.3M$6.3M20212022: $6.3M$6.3M2022+1%2023: $2.9M$2.9M2023−54%2024: $5.4M$5.4M2024+86%2025: $17.6K$17.6K2025−100%

Every line of the income statement as filed: the last 2 fiscal years, latest first.2

Period ending2025-08-312024-08-31
Net sales$84.2M$85.1M
Cost of goods sold$52.6M$51.3M
Gross profit$31.7M$33.8M
Equity in income from joint ventures$3.5M$4.2M
Fees for services provided to joint ventures$5.0M$5.3M
Total joint venture operations$8.5M$9.5M
Selling expenses$17.8M$16.4M
General and administrative expenses$14.8M$14.2M
Research and development expenses$5.0M$4.8M
Total operating expenses$37.7M$35.4M
OPERATING INCOME$2.6M$7.9M
INTEREST INCOME$308.1K$118.8K
INTEREST EXPENSE-$599.9K-$340.1K
OTHER INCOME$1.1M$0
OTHER EXPENSE-$386.8K$0
INCOME BEFORE INCOME TAX EXPENSE$3.0M$7.6M
INCOME TAX EXPENSE$2.0M$1.3M
NET INCOME$986.4K$6.3M
NET INCOME ATTRIBUTABLE TO NON-CONTROLLING INTERESTS$968.8K$912.3K
NET INCOME ATTRIBUTABLE TO NTIC$17.6K$5.4M
Basic (in dollars per share)$0.00$0.57
Diluted (in dollars per share)$0.00$0.55
Basic (in shares)9.5M shares9.4M shares
Diluted (in shares)9.6M shares9.8M shares
CASH DIVIDENDS DECLARED PER COMMON SHARE (in dollars per share)$0.16$0.28

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Leadership

Who has led NORTHERN TECHNOLOGIES INTERNATIONAL CORP, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Gautam Ramdas2026–now

President

  1. Gautam Ramdas2026–now

Chief financial officer

  1. Matthew C. Wolsfeld2006–now

Chief operating officer

  1. Brian James Haglund2026–now
2010201520202025
Board members and other officers (21)

Timeline

  1. Sep 9, 2026New chief executive Gautam Ramdas becomes CEO15

Filings

161 filings to the SEC since October 2021: 5 annual reports, 17 quarterly reports, 32 major events, 75 insider forms, 11 large holders, 21 other. The latest 20:

  1. Sep 22, 20268-K EDGAR
  2. Sep 9, 20264 PRIMARY DOCUMENT EDGAR
  3. Sep 9, 20263 PRIMARY DOCUMENT EDGAR
  4. Sep 9, 20263 PRIMARY DOCUMENT EDGAR
  5. Sep 8, 20268-K EDGAR
  6. Sep 4, 20264 PRIMARY DOCUMENT EDGAR
  7. Sep 3, 20264 PRIMARY DOCUMENT EDGAR
  8. Sep 3, 20264 PRIMARY DOCUMENT EDGAR
  9. Sep 3, 20264 PRIMARY DOCUMENT EDGAR
  10. Sep 3, 20264 PRIMARY DOCUMENT EDGAR
  11. Sep 3, 20264 PRIMARY DOCUMENT EDGAR
  12. Sep 3, 20264 PRIMARY DOCUMENT EDGAR
  13. Sep 3, 20264 PRIMARY DOCUMENT EDGAR
  14. Sep 3, 20264 PRIMARY DOCUMENT EDGAR
  15. Jul 31, 20264 PRIMARY DOCUMENT EDGAR
  16. Jul 29, 2026144 EDGAR
  17. Jul 21, 20264 PRIMARY DOCUMENT EDGAR
  18. Jul 20, 2026144 EDGAR
  19. Jul 9, 202610-Q EDGAR
  20. Jul 9, 20268-K EDGAR

The 161 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

11 open-market trades by officers, directors and large owners since October 2021: 7 buys and 4 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jul 30, 2026LYNCH G PATRICKPresident and CEOSale16,070$8.00$128.6KForm 4
Jul 29, 2026LYNCH G PATRICKPresident and CEOSale2$8.10$16Form 4
Jul 20, 2026NIGON RICHARDDirectorSale12,000$8.00$96.0KForm 4
May 6, 2025von Falkenhausen KonstantinDirectorBuy1,100$7.23$8.0KForm 4
Apr 25, 2025Calderon Nancy E.DirectorBuy1,000$7.45$7.5KForm 4
Apr 23, 2024Kemp Sarah E.DirectorBuy1,275$15.70$20.0KForm 4
Aug 14, 2023Calderon Nancy E.DirectorBuy500$13.17$6.6KForm 4
Jul 27, 2023NIGON RICHARDDirectorSale1,847$12.17$22.5KForm 4
Apr 18, 2023Kemp Sarah E.DirectorBuy2,473$12.13$30.0KForm 4
Jan 30, 2023Calderon Nancy E.DirectorBuy500$12.92$6.5KForm 4
Jan 12, 2022Kemp Sarah E.DirectorBuy2,012$14.91$30.0KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 44. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Needham Investment Management LLC800,000$6.8M0.2%+35,000
Vanguard Capital Management LLC393,279$3.4M0.0%+9,463
Dimensional Fund Advisors LP335,664$2.9M0.0%+2,296
Peapod Lane Capital LLC176,114$1.5M1.0%+33,472
Ballast Advisors LLC158,702$1.4M0.3%−12,345
North Star Investment Management Corp.148,000$1.3M0.1%No change
Renaissance Technologies LLC122,577$1.0M0.0%+3,800
Dynamic Advisor Solutions LLC91,695$784.9K0.0%+3,618
Geode Capital Management, LLC89,037$762.6K0.0%−2,505
RBF Capital, LLC59,590$510.1K0.0%No change
BlackRock, Inc.48,268$413.2K0.0%+7,452
Vanguard Fiduciary Trust Co44,482$380.8K0.0%+318
Arrowstreet Capital, Limited Partnership43,212$369.9K0.0%No change
Millennium Management LLC39,287$336.3K0.0%−5,847
State Street Corp25,681$219.8K0.0%No change
Navellier & Associates Inc25,000$214.0K0.0%No change
PNC Financial Services Group, Inc.24,000$205.4K0.0%No change
Marquette Asset Management, LLC23,853$204.2K0.0%New
Rothschild Wealth LLC18,647$159.6K0.0%No change
Northern Trust Corp16,433$140.7K0.0%No change
Bridgeway Capital Management, LLC15,661$134.1K0.0%No change
Citadel Advisors LLC13,906$119.0K0.0%New
Qube Research & Technologies Ltd12,848$110.0K0.0%New
Estabrook Capital Management12,188$104.3K0.0%No change
Morgan Stanley9,411$80.6K0.0%−15

13F reports cover disclosed long positions in U.S. stocks only.

Sources

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