NPK International Inc.
- Open
- 13.20
- Day high
- 13.50
- Day low
- 13.15
- Prev close
- 13.24
- Volume
- 639K
- Mkt cap
- $1.1B
- P/E (TTM)
- 29.0
- EPS (TTM)
- $0.46
- P/B
- 3.0
- P/S
- 3.7
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$2.7M over the last 3 months (0 open-market buys, 4 sales)
NPK International Inc. (NPKI) is a Energy company listed on NYSE. The stock is up 30% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 4 sales (SEC Form 4). Drillr has 1 published research article covering NPKI.
NPK International Inc. (NPKI) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
NPKI earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 30, 2026 | $0.13 | $0.15 | +15.4% | $82M | +3.8% |
| May 1, 2026 | $0.11 | $0.12 | +9.1% | $75M | +2.5% |
| Feb 26, 2026 | $0.11 | $0.13 | +18.2% | $75M | +2.3% |
| Oct 30, 2025 | $0.07 | $0.07 | +0.0% | $69M | +0.4% |
| May 1, 2025 | $0.08 | $0.12 | +50.0% | $65M | +5.6% |
| Feb 26, 2025 | $0.08 | $0.08 | +0.0% | $-175M | -397.3% |
| Nov 7, 2024 | $0.06 | $-1.99 | -3420.3% | $44M | -18.4% |
| Mar 31, 2024 | $0.05 | $0.08 | +56.7% | $169M | -0.3% |
| Dec 31, 2023 | $0.08 | $-0.01 | -107.0% | $168M | -2.6% |
| Sep 30, 2023 | $0.06 | $0.09 | +45.2% | $57M | -67.8% |
| Jun 30, 2023 | $0.07 | $0.02 | -70.2% | $183M | -3.4% |
| Mar 31, 2023 | $0.05 | $0.06 | +17.4% | $200M | +5.9% |
NPKI insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 31, 2026 | ROBESON ROSE Mdirector | Sell | 10,000 | $13.49 |
| Aug 19, 2026 | Lewis Michael Adirector | Sell | 2,013 | $14.26 |
| Jul 29, 2026 | Pederson Kristen J.director | Grant | 6,614 | — |
| Jun 9, 2026 | Briggs Loriofficer: VP & President, Ind. Solutions | Sell | 8,325 | $14.75 |
| Jun 5, 2026 | LANIGAN MATTHEWdirector, officer: President & CEO | Sell | 167,375 | $14.43 |
| Jun 3, 2026 | Fruge Mary Celesteofficer: VP, General Counsel | Tax | 5,218 | $14.31 |
| Jun 3, 2026 | Piontek Greggofficer: Senior Vice President and CFO | Option | 40,379 | — |
| Jun 3, 2026 | Piontek Greggofficer: Senior Vice President and CFO | Tax | 11,241 | $14.31 |
| Jun 3, 2026 | Piontek Greggofficer: Senior Vice President and CFO | Tax | 15,889 | $14.31 |
| Jun 3, 2026 | Piontek Greggofficer: Senior Vice President and CFO | Tax | 8,959 | $14.31 |
| Jun 3, 2026 | LANIGAN MATTHEWdirector, officer: President & CEO | Option | 100,188 | — |
| Jun 3, 2026 | LANIGAN MATTHEWdirector, officer: President & CEO | Tax | 39,423 | $14.31 |
| Jun 3, 2026 | LANIGAN MATTHEWdirector, officer: President & CEO | Tax | 27,894 | $14.31 |
| Jun 3, 2026 | LANIGAN MATTHEWdirector, officer: President & CEO | Tax | 22,232 | $14.31 |
| Jun 3, 2026 | Fruge Mary Celesteofficer: VP, General Counsel | Option | 17,274 | — |
Source: NPKI SEC Form 4 filings, latest Aug 31, 2026. For informational purposes only — not investment advice.
See the full NPKI insider & 13F page →NPKI research & analysis
NPK International Inc. company profile
Overview
NPK International Inc. (NYSE:NPKI) is a specialized industrial services company that was incorporated in 1932 and is headquartered in The Woodlands, Texas. The company went public in 1990 and was formerly known as Newpark Resources, Inc. until its name change in December 2024. NPK has undergone a significant strategic transformation in recent years, evolving from a diversified oil and gas services company into a focused provider of site access solutions primarily serving the electrical utility infrastructure sector. The company completed the sale of its Fluids Systems business in 2024 to concentrate exclusively on its Industrial Solutions segment, which provides composite matting systems and related services for temporary worksite access across various industries.
Business
NPK International operates in the industrial site access solutions market, providing composite matting systems that serve as temporary roadways and work platforms for heavy equipment and vehicles at construction and industrial worksites. The company's core product is engineered composite mats made from advanced materials that can support extremely heavy loads while protecting underlying terrain from damage. These composite mats are essential infrastructure tools used when construction crews, utility workers, or industrial operators need to access remote or environmentally sensitive locations. Traditional solutions often involved timber mats or permanent road construction, but NPK's composite mats offer superior durability, reusability, and environmental protection. The mats can support weights of up to 120 tons per axle and are designed to distribute heavy equipment loads across soft or uneven ground without causing permanent damage to the underlying surface. The company operates through a single business segment following the 2024 divestiture of its oil and gas fluids business. NPK's Industrial Solutions segment generates revenue through two primary channels: 1. Rental and Service Operations (approximately 65-70% of revenue): NPK rents composite mats to customers on a project basis, typically for periods ranging from weeks to months. The company also provides related services including site planning, access road construction, environmental protection, erosion control, and site restoration services. 2. Product Sales (approximately 30-35% of revenue): NPK manufactures and sells composite mats directly to customers who prefer to purchase rather than rent the equipment. This includes both standard mats and custom-engineered solutions for specific applications. The utility sector represents approximately 60% of NPK's total revenues, with the remainder coming from oil and gas exploration and production, pipeline construction, renewable energy projects, petrochemical facilities, power transmission, and general construction industries. The company operates primarily in the United States and Europe, with manufacturing facilities in Louisiana and the United Kingdom.
Revenue model
NPK International generates revenue through two complementary business models within its site access solutions operation. The rental business model provides recurring revenue streams by leasing composite mats and related equipment to customers on a project-by-project basis. Rental rates are typically charged on a monthly basis, with longer-term projects providing more predictable cash flows. The company also charges for delivery, setup, and removal services, as well as site preparation and restoration work. The product sales model generates revenue through direct manufacturing and sale of composite mats to customers who prefer ownership over rental arrangements. Product sales tend to be more cyclical and project-dependent, with higher margins but less predictable timing. Sales often involve larger fleet operators or customers with ongoing, long-term access needs who find purchase more economical than extended rental periods. NPK's primary customers include electrical utility companies undertaking transmission and distribution infrastructure projects, oil and gas exploration and production companies, pipeline construction contractors, renewable energy developers, and general construction firms. The utility sector has become the dominant customer base, representing approximately 60% of revenues, driven by significant infrastructure investment in electrical grid modernization and expansion. Several factors influence NPK's profit margins and business performance. Positive margin drivers include the ongoing transition from traditional timber mats to composite alternatives, which commands premium pricing due to superior performance and environmental benefits. The company's estimated 20% market share in the U.S. composite matting market provides opportunities for continued growth as the overall market expands at an estimated 8-10% annually. Geographic expansion into underserved markets and the ability to secure longer-duration projects also enhance profitability through better asset utilization. Margin pressures can arise from competitive pricing in commodity-like segments of the market, seasonal slowdowns in certain geographic regions, and the capital-intensive nature of fleet expansion. Weather-related project delays, permitting issues, and customer project timing shifts can impact quarterly performance. Additionally, raw material costs for composite manufacturing and transportation expenses for equipment deployment affect overall margins. The company's focus on operational efficiency improvements and cost structure optimization helps mitigate some of these pressures.
Competitive moat
NPK International's competitive moat is moderate but strengthening, built primarily around operational expertise, customer relationships, and the capital-intensive nature of the composite matting rental business. The company has developed specialized knowledge in site access engineering, environmental protection requirements, and project logistics that creates value for customers beyond just equipment provision. This expertise barrier is meaningful but not insurmountable for well-capitalized competitors. The capital requirements for building and maintaining a composite mat rental fleet provide some protection against new entrants. Each mat represents a significant investment, and achieving economies of scale requires substantial upfront capital deployment. NPK's established manufacturing capabilities and supply chain relationships also create operational advantages, particularly given the company's focus on 100% U.S.-sourced raw materials, which provides some protection against tariff-related disruptions. Customer relationships and reputation represent another moat element, as utility and industrial customers often prefer working with proven providers for critical infrastructure projects. The switching costs for customers are moderate, as changing providers requires new vendor qualification processes and relationship building, but these barriers are not prohibitively high. However, NPK faces several competitive challenges that limit the strength of its moat. The composite matting market includes both large, well-capitalized competitors and smaller regional players who can compete effectively in local markets. Traditional timber mat providers continue to offer lower-cost alternatives, though with inferior performance characteristics. The company's technology and manufacturing processes, while sophisticated, are not proprietary enough to create insurmountable barriers to entry for determined competitors with adequate capital resources. The most significant long-term competitive threat may come from alternative access solutions or new materials technologies that could disrupt the composite matting market entirely. Additionally, vertical integration by large customers or the emergence of asset-light service models could potentially challenge NPK's rental-focused approach.
Risks & safety
NPK International presents a moderate margin of safety with solid financial fundamentals but some operational risks to monitor. • Liquidity and Solvency: Strong current ratio of 2.60x and quick ratio of 2.37x indicate solid short-term liquidity. Cash position of $20.8 million provides adequate working capital buffer. Very low debt-to-equity ratio of 0.057 demonstrates conservative capital structure with minimal solvency risk. • Cash Flow and Capital Allocation: Positive operating cash flow of $8.8 million in Q1 2025, though free cash flow was slightly negative at -$1.2 million due to continued fleet expansion investments. Full-year 2024 generated strong operating cash flow of $38.2 million despite negative free cash flow from capital investments. • Valuation Metrics: Current P/E ratio of 12.5x appears reasonable for a growing industrial services company. EV/EBITDA of 6.4x suggests moderate valuation relative to cash generation capability. Price-to-book ratio of 1.53x reflects reasonable premium to tangible assets. • Other Considerations: Revenue growth trajectory looks positive with 32% year-over-year increase in Q1 2025. Management's raised guidance for 2025 ($240-252 million revenue, $64-72 million EBITDA) indicates confidence in business momentum. $50 million share repurchase authorization demonstrates management's confidence in valuation and commitment to shareholder returns.
Recent development
NPK International has undergone a dramatic strategic transformation over the past two years, fundamentally reshaping its business focus and market positioning. The most significant development was the completion of the Fluids Systems business divestiture in 2024, which eliminated the company's oil and gas drilling fluids operations and allowed management to focus exclusively on the higher-margin Industrial Solutions segment. This strategic pivot represented a shift from a diversified energy services company to a specialized infrastructure access solutions provider. The company has aggressively pursued geographic expansion within the United States, targeting underserved markets where composite matting adoption remains limited. This expansion strategy involves building local sales relationships, demonstrating capabilities to new customers, and gradually deploying rental fleet assets as trust and project complexity increase. Management estimates the company currently holds approximately 20% market share in the U.S. composite matting market, providing substantial room for organic growth. Fleet expansion and operational scaling have been key investment priorities, with NPK investing $33 million in rental fleet expansion during 2024 and continuing this investment in 2025. The company expanded its composite mat rental fleet by 2% in Q1 2025 alone and continues to focus on displacing traditional timber products with superior composite alternatives. Manufacturing capabilities have been enhanced, including addressing production line issues at the Louisiana facility that caused temporary disruptions in Q3 2024. The company has also undertaken significant organizational restructuring and cost optimization initiatives, targeting $5 million in cost savings by early 2026. Management aims to reduce selling, general, and administrative expenses as a percentage of revenue to the mid-teens range, improving overall operational efficiency. The December 2024 name change from Newpark Resources to NPK International reflects the company's transformation and renewed focus. Capital allocation strategy has evolved to prioritize organic growth investments, potential strategic acquisitions, and shareholder returns through a $50 million share repurchase program. The company is actively evaluating inorganic growth opportunities that could accelerate market expansion or add complementary capabilities to the site access solutions portfolio.
NPKI company profile · for informational purposes only — not investment advice.
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