Forensic Analysis · Professional & Commercial Services · as of Nov 8, 2026

Npk International Inc. (NPKI)

A forensic read on Npk International Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

B · Sound & dependable

Forensic grade

Safe

Financial health

4.4

Distress distance

Clean

Earnings quality

Forensic signals

11.5%

ROE

27.4%

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 (auditor quality, say on pay, board independence, going concern). 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.

Npk International Inc. earns a B (Sound & dependable) forensic quality grade, and its balance-sheet distress test reads 4.4, placing it in the Safe zone. 1 forensic signal was flagged in its latest SEC filings, led by return on invested capital.

What the filings flag

9.8%

FY2025

Return on invested capital. Return on invested capital is 9.8% in the latest fiscal year and rising across FY2023–FY2025 from 3.2%. After-tax operating profit was $16M in FY2023 and $35M in FY2025, with operating income at 11.0% of revenue in FY2023, 14.9% in FY2024 and 16.9% in FY2025. The capital base behind it came down -30% across FY2023–FY2025, from $512M to $359M, so this return is struck on a smaller base than it started on. Across FY2024–FY2025, $133M went into capital expenditure and acquisitions against $49M of depreciation excluding $4M of intangible-asset amortisation. The base is struck net of amortisation, write-downs and the current liabilities that fund it, so it moved by less than that spending net of the wear, and this row does not say which of those absorbed the difference. FY2023's operating profit carried a $6M asset write-down that alone took about 0.9 points off that year's return, so about 0.9 of the 6.6-point rise across FY2023–FY2025 is that charge leaving the base year rather than the capital earning more. A non-cash write-down lowers the reported return in the year it lands.

Key fundamentals

Latest Revenue$277.0M

Revenue Growth YoY+27.4%

Revenue CAGR (2yr)+15.5%

Net Margin14.1%

Free Cash Flow$26.3M

Return on Equity11.5%

Debt / Equity0.05x

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Data from SEC EDGAR public filings · metrics as of Nov 8, 2026. Forensic signals flag probability, not certainty.

See a wrong number? Report an error with the filing it should match.