Northwest Pipe Company
NASDAQ: NWPX · BASIC MATERIALS · STEEL
Updated 2026-06-05
Northwest Pipe Company (NWPX) Stock Valuation Analysis
Fair value estimate, historical valuation range, and quality signals for NWPX.
Valued
Valuation reasonably reflects current fundamentals. Limited margin of safety at these levels.
NWPX historical valuation range
Where current P/E sits in NWPX's own 5Y range.
NWPX intrinsic value (DCF)
DCF-based fair value estimate vs current market price.
Intrinsic value calculated using discounted cash flow (DCF) model based on projected free cash flows, discount rate, and terminal growth assumptions. A positive margin of safety indicates the current price is below estimated fair value, providing a cushion against estimation error.
NWPX valuation signals
Quick-read green flags, caution flags, and risks based on current metrics.
P/E Ratio — History
Current: 28.58x
P/S Ratio — History
Current: 2.17x
Is NWPX overvalued in 2026?
Northwest Pipe Company (NWPX) currently trades at $113.97 per share with a market capitalization of $1,167,620,000.00. Based on our multi-factor framework, the stock trades at a fair valuation with a Smart Value Score of 57/100. This score blends growth quality, financial health, and price attractiveness into a single institutional-grade read.
The stock trades at a P/E ratio of 28.6x, above its 5-year median of 16.5x. The PEG ratio of 2.45 indicates the price has run ahead of the underlying growth rate.
Looking at its own history, NWPX is currently trading more expensive than 100% of the last 5Y on P/E. This places it in the 100th percentile of its historical range, a zone where forward returns have typically been muted.
Our discounted cash flow model estimates NWPX's intrinsic value at $42.13 per share, against the current market price of $113.97. This implies a premium to fair value of -78.57%. The current price sits well above what projected cash flows justify, implying investors are paying for growth that has not yet materialized.
Balance sheet and operating quality look strong. A Piotroski F-Score of 7/9 points to improving profitability, declining leverage, and healthy operating efficiency.
Bottom line: NWPX trades at a fair valuation on our framework, with a Smart Value Score of 57/100. The valuation is defensible but offers no obvious bargain. Patience or a better entry price may reward disciplined buyers.
Frequently asked questions
Is NWPX overvalued?
NWPX scores 57/100 on our Smart Value Score (Grade C+), a mixed overall profile. On valuation specifically, the DCF puts intrinsic value below the current price, so the stock is expensive on cash flow today. The score reflects growth and quality carrying it, not a cheap entry point.
What is NWPX's fair value?
Our DCF model estimates NWPX's intrinsic value at $42.13 per share, versus the current price of $113.97, a margin of safety of -78.57%. Fair value is the present value of the cash flows we project the business to produce, so a price above it means the market is paying up for growth the model does not yet assume.
What P/E ratio does NWPX trade at?
NWPX trades at a P/E of 28.6x on trailing twelve-month earnings, against a 5-year median of 16.5x. P/E is what you pay per dollar of profit, and sitting above its own median means the stock is pricier than usual relative to its earnings.
Is NWPX a buy based on valuation?
Our Smart Value rating for NWPX is Hold, from a Smart Value Score of 57/100 that blends growth, quality, and valuation. The profile is balanced and best suited to investors who already have a thesis. This is research to inform your decision, not personalized financial advice.
How does NWPX's valuation compare to its history?
On P/E, NWPX sits in the 100th percentile of its own 5Y range, historically expensive relative to where it has traded. A high percentile means today's multiple is near the top of its historical band.
What is NWPX's Smart Value Score?
NWPX's Smart Value Score is 57/100. It is a proprietary WallStSmart metric blending growth quality, financial health, and valuation into a single 0-100 read, and scores above 75 are rare, signaling strong multi-factor alignment.