Forensic Analysis · Industrials / Manufacturing / Defense · as of Aug 11, 2026
National Presto Industries Inc (NPK)
A forensic read on National Presto Industries Inc built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
D · Weak — demands caution
Forensic grade
Safe
Financial health
16.9
Distress distance
Watch
Earnings quality
6
Forensic signals
30.7
P / E (ttm)
8.4%
ROE
$990M
Market cap
0.73%
Dividend yield
29.7%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
National Presto Industries Inc earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads 16.9, placing it in the Safe zone. 6 forensic signals were flagged in its latest SEC filings, led by cash conversion.
What the filings flag
-0.16×
FY2023–FY2025
Cash conversion.Over FY2023–FY2025, operating cash flow was -0.16× cumulative net income. Reported profit is not turning into cash. The shortfall is profit tied up in working capital rather than collected — the accrual and receivables lines below show where.
FCF ($36M)
FY2025
Shareholder returns.Returned $7M to shareholders (buybacks + dividends) in FY2025, but free cash flow was ($36M) after capex — there was no free cash flow to fund the payout from at all, and operating cash flow itself was negative or zero that year too. The entire return is coming from debt or cash reserves, not cash the business itself generated — a harder case than returns merely running ahead of free cash flow, since here there was none to run ahead of.
+11.3%
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets grew +11.3% relative to their own average in FY2025 — scaled by NOA itself, not total assets (see the Forensic Screens card's differently-scaled Sloan Accrual Ratio for that read). Accruals are building faster than is comfortable — part of profit is sitting in the balance sheet rather than turning to cash. The build is led by receivables up +37% against revenue +30% and inventory up +10% against +37% in cost of sales. The cash-flow cross-check agrees: reported earnings ran ahead of operating cash by 11% of net operating assets.
7.9%
FY2025
Return on invested capital.Return on invested capital is 7.9% in the latest fiscal year and rising from 6% — around its ~9% cost of capital, so growth is roughly value-neutral.
+0.2%/yr
Key fundamentals
Latest Revenue$503.5M
Revenue Growth YoY+29.7%
Revenue CAGR (3yr)+16.1%
Net Margin6.6%
Free Cash Flow-$36.2M
Return on Equity8.4%
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from National Presto Industries Inc's actual 10-K/10-Q/8-K filings?
Data from SEC EDGAR public filings · metrics as of Aug 11, 2026. Forensic signals flag probability, not certainty.
National Presto Industries Inc (NPK) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy
FY2009–FY2012
Share count.Diluted share count changed +1% over the last 3 years to FY2012 (+0.2%/yr). Roughly flat — the count is neither shrinking nor growing meaningfully. Per-share value isn't being meaningfully helped or hurt by the count.
$4M
FY2022–FY2022
Goodwill impairments.Took $4M of goodwill writedowns across 1 year (FY2022 ($4M)) — about 19% of net income over the span. Writedowns mean past acquisitions underperformed what was paid for them.