NWPX on Nasdaq
NWPX Infrastructure, Inc.
American steel pipe and tubes company based in Vancouver, active since 1966. Summary from the record
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Last updated Oct 19, 2026.
Overview
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- TickerNWPX on Nasdaq2
- IndustrySteel Pipe & Tubes2
- HeadquartersVancouver, United States2
- Incorporated inOR3
- Business address201 Ne Park Plaza Drive, Suite 100, Vancouver, Wa 986843
- Filer categoryAccelerated filer3
- Legal formBusiness Corporation2
- LEI54930056VW2CRCZ9RE542
- StatusActive2
- LEI statusIssued and current2
- Registered addressC/O Corporation Service Company, 97301 Salem, United States2
- Registered withCorporation Division (Oregon Secretary of State), 077936-152
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NWPX Infrastructure, Inc., formerly known as Northwest Pipe Company, is a leading manufacturer of water-related infrastructure products, and operates in two segments, Water Transmission Systems (“WTS”), operating as the Northwest Pipe Company brand, and Precast Infrastructure and Engineered Systems (“Precast”), which includes the brands NWPX Geneva and NWPX Park. Under the Northwest Pipe Company brand, we are the largest manufacturer of engineered water transmission systems in North America and produce steel casing pipe, bar-wrapped concrete cylinder pipe, and pipeline system joints and fittings. We also provide solution-based products for a wide range of markets including high-quality reinforced precast concrete products, lined precast sanitary sewer system structures, water distribution and management equipment including pump lift stations, wastewater pretreatment, and stormwater quali…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
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Business segments
Water Transmission Systems brought in 67% of the revenue NWPX Infrastructure, Inc. broke down this way in fiscal 2025.
Business segments by year
| Business segments | 2023 | 2024 | 2025 |
|---|---|---|---|
| Water Transmission Systems | $296.4M | $337.9M | $350.9M |
| Precast Infrastructure and Engineered Systems | $148.0M | $154.6M | $175.1M |
Regions
United States brought in 93% of the revenue NWPX Infrastructure, Inc. broke down this way in fiscal 2025.
Regions by year
| Regions | 2023 | 2024 | 2025 |
|---|---|---|---|
| United States | $420.9M | $475.1M | $487.6M |
| Canada | $23.4M | $17.4M | $38.4M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue81¢$422.4M
- Selling, general and admin10¢$52.8M
- Interest0¢$2.6M
- Income tax2¢$11.1M
- Profit7¢$35.4M
Out of $526.0M in revenue.5
Where each dollar of operating cash went, fiscal 2025
- Capital spending30¢$20.2M
- Share buybacks27¢$18.4M
- Kept or used elsewhere43¢$28.8M
Out of $67.3M of cash from operations.5
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net sales | $526.0M | $492.5M | $444.4M |
| Cost of sales | $422.4M | $397.1M | $366.7M |
| Gross profit | $103.6M | $95.4M | $77.6M |
| Selling, general, and administrative expense | $52.8M | $47.2M | $43.8M |
| Operating income | $50.9M | $48.2M | $33.9M |
| Other income (loss) | -$1.8M | -$213.0K | $276.0K |
| Interest expense | -$2.6M | -$5.7M | -$4.9M |
| Income before income taxes | $46.5M | $42.4M | $29.3M |
| Income tax expense | $11.1M | $8.2M | $8.2M |
| Net income | $35.4M | $34.2M | $21.1M |
| Basic (in dollars per share) | $3.62 | $3.45 | $2.11 |
| Diluted (in dollars per share) | $3.56 | $3.40 | $2.09 |
| Basic (in shares) | 9.8M shares | 9.9M shares | 10.0M shares |
| Diluted (in shares) | 9.9M shares | 10.1M shares | 10.1M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $2.3M | $5.0M | ||
| Trade and other receivables, net of allowance of $528 and $242 | $78.2M | $66.9M | $47.6M | |
| Contract assets | $91.0M | $103.4M | ||
| Inventories | $74.3M | $79.8M | ||
| Prepaid expenses and other | $5.7M | $7.3M | ||
| Total current assets | $251.4M | $262.5M | ||
| Property, Plant and Equipment, Net | $157.5M | $150.5M | ||
| Operating lease right-of-use assets | $86.9M | $87.7M | ||
| Goodwill | $55.5M | $55.5M | ||
| Intangible assets, net | $23.0M | $27.0M | ||
| Other assets | $5.3M | $6.4M | ||
| Total assets | $579.6M | $589.7M | ||
| Current portion of long-term debt | $3.0M | $3.0M | ||
| Accounts payable | $22.2M | $27.8M | ||
| Accrued Liabilities, Current | $27.7M | $28.2M | ||
| Contract liabilities | $8.8M | $11.2M | ||
| Current portion of operating lease liabilities | $4.8M | $5.0M | ||
| Total current liabilities | $66.5M | $75.1M | ||
| Borrowings on line of credit | $276.0K | $24.7M | ||
| Long-term debt | $8.5M | $11.5M | ||
| Long-term lease liabilities (2) | $86.2M | $85.7M | ||
| Deferred income taxes | $12.5M | $8.3M | ||
| Other Liabilities, Noncurrent | $10.8M | $10.3M | ||
| Total liabilities | $184.8M | $215.7M | ||
| Preferred stock, $.01 par value, 10,000,000 shares authorized, none issued or outstanding | $0 | $0 | ||
| Common stock, $.01 par value, 15,000,000 shares authorized, 9,587,990 and 9,918,711 shares issued and outstanding as of December 31, 2025 and 2024, respectively | $96.0K | $99.0K | ||
| Additional paid-in-capital | $113.1M | $128.4M | ||
| Retained earnings | $281.7M | $246.3M | ||
| Accumulated other comprehensive loss | -$143.0K | -$834.0K | ||
| Total stockholders equity | $394.8M | $374.0M | $340.4M | $318.3M |
| Total liabilities and stockholders equity | $579.6M | $589.7M | ||
| Allowance for doubtful accounts | $528.0K | $242.0K | ||
| Preferred stock, par value (in dollars per share) | $0.01 | $0.01 | ||
| Preferred stock, shares authorized (in shares) | 10.0M shares | 10.0M shares | ||
| Preferred stock, shares issued (in shares) | 0 shares | 0 shares | ||
| Preferred stock, shares outstanding (in shares) | 0 shares | 0 shares | ||
| Common stock, par value (in dollars per share) | $0.01 | $0.01 | ||
| Common stock, shares authorized (in shares) | 15.0M shares | 15.0M shares | ||
| Common stock, shares issued (in shares) | 9.6M shares | 9.9M shares | ||
| Common stock, shares outstanding (in shares) | 9.6M shares | 9.9M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $2.3M | $5.0M | ||
| Trade and other receivables, net of allowance of $528 and $242 | $78.2M | $66.9M | $47.6M | |
| Contract assets | $91.0M | $103.4M | ||
| Inventories | $74.3M | $79.8M | ||
| Prepaid expenses and other | $5.7M | $7.3M | ||
| Total current assets | $251.4M | $262.5M | ||
| Property, Plant and Equipment, Net | $157.5M | $150.5M | ||
| Operating lease right-of-use assets | $86.9M | $87.7M | ||
| Goodwill | $55.5M | $55.5M | ||
| Intangible assets, net | $23.0M | $27.0M | ||
| Other assets | $5.3M | $6.4M | ||
| Total assets | $579.6M | $589.7M | ||
| Current portion of long-term debt | $3.0M | $3.0M | ||
| Accounts payable | $22.2M | $27.8M | ||
| Accrued Liabilities, Current | $27.7M | $28.2M | ||
| Contract liabilities | $8.8M | $11.2M | ||
| Current portion of operating lease liabilities | $4.8M | $5.0M | ||
| Total current liabilities | $66.5M | $75.1M | ||
| Borrowings on line of credit | $276.0K | $24.7M | ||
| Long-term debt | $8.5M | $11.5M | ||
| Long-term lease liabilities (2) | $86.2M | $85.7M | ||
| Deferred income taxes | $12.5M | $8.3M | ||
| Other Liabilities, Noncurrent | $10.8M | $10.3M | ||
| Total liabilities | $184.8M | $215.7M | ||
| Preferred stock, $.01 par value, 10,000,000 shares authorized, none issued or outstanding | $0 | $0 | ||
| Common stock, $.01 par value, 15,000,000 shares authorized, 9,587,990 and 9,918,711 shares issued and outstanding as of December 31, 2025 and 2024, respectively | $96.0K | $99.0K | ||
| Additional paid-in-capital | $113.1M | $128.4M | ||
| Retained earnings | $281.7M | $246.3M | ||
| Accumulated other comprehensive loss | -$143.0K | -$834.0K | ||
| Total stockholders equity | $394.8M | $374.0M | $340.4M | $318.3M |
| Total liabilities and stockholders equity | $579.6M | $589.7M | ||
| Allowance for doubtful accounts | $528.0K | $242.0K | ||
| Preferred stock, par value (in dollars per share) | $0.01 | $0.01 | ||
| Preferred stock, shares authorized (in shares) | 10.0M shares | 10.0M shares | ||
| Preferred stock, shares issued (in shares) | 0 shares | 0 shares | ||
| Preferred stock, shares outstanding (in shares) | 0 shares | 0 shares | ||
| Common stock, par value (in dollars per share) | $0.01 | $0.01 | ||
| Common stock, shares authorized (in shares) | 15.0M shares | 15.0M shares | ||
| Common stock, shares issued (in shares) | 9.6M shares | 9.9M shares | ||
| Common stock, shares outstanding (in shares) | 9.6M shares | 9.9M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income | $35.4M | $34.2M | $21.1M |
| Depreciation and finance lease amortization | $15.4M | $15.0M | $11.6M |
| Amortization of intangible assets | $4.0M | $4.0M | $4.2M |
| Share-based compensation expense | $5.6M | $5.1M | $3.7M |
| Settlement loss on defined benefit plans | $1.5M | $0 | $0 |
| Noncash operating lease expense | $6.1M | $6.1M | $5.9M |
| Deferred income taxes | $4.3M | -$4.7M | -$172.0K |
| Gain on insurance proceeds | $0 | $0 | -$466.0K |
| Other, net | $1.5M | $728.0K | $1.5M |
| Trade and other receivables | -$12.4M | -$20.0M | $23.8M |
| Contract assets, net | $10.0M | $6.8M | $5.3M |
| Inventories | $5.5M | $11.5M | -$20.2M |
| Prepaid expenses and other assets | $2.5M | $1.6M | -$681.0K |
| Accounts payable | -$6.0M | -$3.4M | $4.7M |
| Accrued and other liabilities | -$1.1M | $3.2M | -$1.9M |
| Operating lease liabilities | -$5.0M | -$5.1M | -$4.9M |
| Net cash provided by operating activities | $67.3M | $55.1M | $53.5M |
| Purchases of property and equipment | -$20.2M | -$20.8M | -$18.3M |
| Payment of working capital adjustment in acquisition of business | $0 | $0 | -$2.7M |
| Proceeds from insurance | $0 | $0 | $431.0K |
| Other investing activities | $31.0K | $63.0K | $219.0K |
| Net cash used in investing activities | -$20.1M | -$20.7M | -$20.4M |
| Borrowings on line of credit | $155.8M | $171.3M | $155.4M |
| Repayments on line of credit | -$180.2M | -$201.1M | -$184.6M |
| Borrowings on other debt | $0 | $4.2M | $0 |
| Payments on other debt | -$3.0M | -$500.0K | $0 |
| Payments on finance lease liabilities | -$1.7M | -$1.4M | -$826.0K |
| Tax withholdings related to net share settlements of equity awards | -$2.3M | -$1.4M | -$1.7M |
| Repurchase of common stock | -$18.4M | -$4.4M | -$707.0K |
| Other financing activities | -$146.0K | -$15.0K | -$300.0K |
| Net cash used in financing activities | -$49.9M | -$33.4M | -$32.7M |
| Change in cash and cash equivalents | -$2.7M | $939.0K | $387.0K |
| Cash paid during the period for interest, net of amounts capitalized | $2.5M | $5.9M | $4.7M |
| Federal | $7.6M | $8.2M | $4.1M |
| Foreign | $319.0K | $318.0K | $226.0K |
| Accrued property and equipment purchases | $1.2M | $872.0K | $656.0K |
| Accrued payment for repurchase of common stock | $222.0K | $0 | $128.0K |
| Right-of-use assets obtained in exchange for finance lease liabilities | $2.2M | $1.1M | $5.3M |
| Right-of-use assets obtained in exchange for operating lease liabilities | $5.3M | $5.6M | $952.0K |
No quarter-by-quarter statement was filed.
Leadership
Who has led NWPX Infrastructure, Inc., and when. Pick a name to see everywhere that person has worked.
President
Chief financial officer
Chief operating officer
- Chief executive officerScott J. Montross Jan 11, 2013 to now13
- Chief executive officerRichard A. Roman Apr 2, 2010 to Jul 3, 201214
- Chief executive officerBrian W. Dunham Dec 6, 2006 to Mar 16, 201015
- ChairRichard A. Roman Jan 11, 2013 to May 12, 201516
- PresidentScott J. Montross Jun 4, 2013 to now17
- PresidentGary A. Stokes Sep 26, 2008 to May 18, 201218
- PresidentRobert L. Mahoney Sep 26, 2008 to May 18, 201219
- PresidentBrian W. Dunham Dec 6, 2006 to Aug 20, 201015
- Chief financial officerAaron Wilkins Mar 22, 2021 to now20
- Chief financial officerRobin A. Gantt Feb 2, 2011 to Apr 2, 202021
- Chief financial officerBrian W. Dunham Sep 26, 2008 to Sep 26, 200822
- Chief financial officerJohn D. Murakami Mar 23, 2006 to Dec 6, 200623
- Chief operating officerScott J. Montross May 25, 2011 to Jun 18, 201224
Board members and other officers (29)
- SVP/GM Precast InfrastructureJesus Tanguis Mar 23, 2026 to now25
- Sr. VP of Sales & MarketingEric Stokes Mar 30, 2020 to now26
- VP of Human ResourcesMegan A. Kendrick Mar 30, 2020 to now27
- Sr. VP of OperationsMiles Brittain Mar 30, 2020 to now28
- VP of Finance &Corp ControllerAaron Wilkins Sep 23, 2016 to Jan 19, 202129
- VP of PurchasingGregory Goad Jun 8, 2015 to Jun 8, 201530
- VP of Human ResourcesVicki Taylor Jun 8, 2015 to Jun 8, 201531
- Exec VP, Tubular ProductsMartin W. Dana Aug 29, 2013 to Jan 17, 201832
- VICE PRESIDENTGreg Carrier Jul 27, 2007 to Jan 17, 201433
- VICE PRESIDENTJenkins Winsor Jul 27, 2007 to Jan 17, 201434
- SVP WT OPSCharles L. Koenig Dec 6, 2006 to Feb 19, 200835
- SVP WT SALES & MKTGGary A. Stokes Dec 6, 2006 to Jan 17, 201436
- CHIEF STRATEGIC OFFICERRobert L. Mahoney Dec 6, 2006 to Jan 20, 201537
- Board memberIrma Lockridge Feb 28, 2023 to now38
- Board memberWilliam S. Yearsley Apr 2, 2020 to Jun 14, 202139
- Board memberAmanda Kulesa Jul 14, 2020 to now40
- Board memberJohn Paschal Aug 22, 2019 to now41
- Board memberMichelle Galanter Applebaum Sep 15, 2014 to Jun 5, 202042
- Board memberJenkins Winsor Jan 11, 2013 to Jan 11, 201343
- Board memberScott J. Montross Jan 11, 2013 to Jun 2, 201413
- Board memberHarry L. Demorest Feb 28, 2013 to Jun 8, 201844
- Board memberJames E. Declusin Feb 14, 2011 to Jun 3, 201645
- Board memberKeith R. Larson Jun 1, 2007 to now46
- Board memberMichael C. Franson Jun 1, 2007 to now47
- Board memberWilliam R. Tagmyer Apr 11, 2006 to Jul 30, 200848
- Board memberNeil R. Thornton May 3, 2006 to May 2, 200849
- Board memberRichard A. Roman May 11, 2006 to now50
- Board memberWayne Kinglsey May 11, 2006 to Jun 2, 201451
- Board memberBrian W. Dunham Dec 6, 2006 to Aug 20, 201015
Former names
- NORTHWEST PIPE CONov 12, 1996 to Jun 12, 20253
Timeline
Filings
353 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 54 major events, 205 insider forms, 25 large holders, 49 other. The latest 20:
- Oct 8, 2026SCHEDULE 13G/A EDGAR
- Oct 6, 20264 EDGAR
- Oct 6, 20264 EDGAR
- Oct 5, 2026144 EDGAR
- Oct 2, 20264 EDGAR
- Oct 1, 2026144 EDGAR
- Sep 30, 20264 EDGAR
- Sep 28, 2026144 EDGAR
- Sep 23, 20264 EDGAR
- Sep 23, 20264 EDGAR
- Sep 21, 2026144 EDGAR
- Sep 16, 20264 EDGAR
- Sep 16, 20264 EDGAR
- Sep 16, 20264 EDGAR
- Sep 14, 2026144 EDGAR
- Sep 11, 20264 EDGAR
- Sep 10, 20264 EDGAR
- Sep 10, 20264 EDGAR
- Sep 10, 20264 EDGAR
- Sep 9, 2026144 EDGAR
The 353 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
95 open-market trades by officers, directors and large owners since October 2021: 0 buys and 95 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Sep 28, 2026 | LARSON KEITH RDirector | Sale | 1,000 | $102.20 | $102.2K | Form 4 |
| Sep 21, 2026 | Wilkins AaronCFO | Sale | 20 | $101.93 | $2.0K | Form 4 |
| Sep 21, 2026 | LARSON KEITH RDirector | Sale | 1,000 | $102.31 | $102.3K | Form 4 |
| Sep 14, 2026 | Wilkins AaronCFO | Sale | 1,950 | $100.68 | $196.3K | Form 4 |
| Sep 14, 2026 | LARSON KEITH RDirector | Sale | 1,000 | $101.12 | $101.1K | Form 4 |
| Sep 9, 2026 | FRANSON MICHAEL CDirector | Sale | 3,500 | $105.30 | $368.6K | Form 4 |
| Sep 8, 2026 | Wilkins AaronCFO | Sale | 1,500 | $106.52 | $159.8K | Form 4 |
| Sep 8, 2026 | LARSON KEITH RDirector | Sale | 1,000 | $105.87 | $105.9K | Form 4 |
| Sep 8, 2026 | ROMAN RICHARD ADirector | Sale | 4,000 | $105.72 | $422.9K | Form 4 |
| Sep 3, 2026 | LARSON KEITH RDirector | Sale | 4 | $110.79 | $443 | Form 4 |
| Sep 2, 2026 | LARSON KEITH RDirector | Sale | 74 | $110.26 | $8.2K | Form 4 |
| Aug 31, 2026 | LARSON KEITH RDirector | Sale | 1,172 | $110.04 | $129.0K | Form 4 |
| Aug 31, 2026 | MONTROSS SCOTT JPresident & CEO | Sale | 1,227 | $110.58 | $135.7K | Form 4 |
| Aug 26, 2026 | Wray MichaelExecutive Vice President | Sale | 4,500 | $110.94 | $499.2K | Form 4 |
| Aug 24, 2026 | LARSON KEITH RDirector | Sale | 1,250 | $110.32 | $137.9K | Form 4 |
| Aug 24, 2026 | MONTROSS SCOTT JPresident & CEO | Sale | 2,500 | $109.37 | $273.4K | Form 4 |
| Aug 17, 2026 | MONTROSS SCOTT JPresident & CEO | Sale | 2,500 | $115.13 | $287.8K | Form 4 |
| Aug 17, 2026 | LARSON KEITH RDirector | Sale | 1,250 | $115.86 | $144.8K | Form 4 |
| Aug 10, 2026 | MONTROSS SCOTT JPresident & CEO | Sale | 2,500 | $118.74 | $296.9K | Form 4 |
| Aug 10, 2026 | Wilkins AaronCFO | Sale | 428 | $120.00 | $51.4K | Form 4 |
All 95 trades can be filtered by person here when JavaScript is on.
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.
- DIMENSIONAL FUND ADVISORS LPSCHEDULE 13G/A, 4 filings Feb 8, 2022 to Oct 8, 202652
- BlackRockSCHEDULE 13G/A, 3 filings Feb 5, 2025 to Jul 29, 202653
- ROYCE & ASSOCIATES LPSCHEDULE 13G/A, 8 filings Jan 25, 2022 to Apr 27, 202654
- VANGUARD GROUP INCSCHEDULE 13G/A, 3 filings Nov 4, 2024 to Mar 27, 202655
- Global X Management CO LLCSCHEDULE 13G/A, 2 filings Nov 14, 2024 to May 15, 202556
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
13F reports cover disclosed long positions in U.S. stocks only.
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 16SEC EDGARRichard A. Roman, Chair
- 17SEC EDGARScott J. Montross, President
- 18SEC EDGARGary A. Stokes, President
- 19SEC EDGARRobert L. Mahoney, President
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- 28SEC EDGARMiles Brittain, Sr. VP of Operations
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- 30SEC EDGARGregory Goad, VP of Purchasing
- 31SEC EDGARVicki Taylor, VP of Human Resources
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- 33SEC EDGARGreg Carrier, VICE PRESIDENT
- 34SEC EDGARJenkins Winsor, VICE PRESIDENT
- 35SEC EDGARCharles L. Koenig, SVP WT OPS
- 36SEC EDGARGary A. Stokes, SVP WT SALES & MKTG
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- 38SEC EDGARIrma Lockridge, Board member
- 39SEC EDGARWilliam S. Yearsley, Board member
- 40SEC EDGARAmanda Kulesa, Board member
- 41SEC EDGARJohn Paschal, Board member
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- 43SEC EDGARJenkins Winsor, Board member
- 44SEC EDGARHarry L. Demorest, Board member
- 45SEC EDGARJames E. Declusin, Board member
- 46SEC EDGARKeith R. Larson, Board member
- 47SEC EDGARMichael C. Franson, Board member
- 48SEC EDGARWilliam R. Tagmyer, Board member
- 49SEC EDGARNeil R. Thornton, Board member
- 50SEC EDGARRichard A. Roman, Board member
- 51SEC EDGARWayne Kinglsey, Board member
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