Enpro Inc. (NPO) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy
Forensic Analysis · General / Diversified · as of Sep 24, 2026
Enpro Inc. (NPO)
A forensic read on Enpro 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
8.5
Distress distance
Clean
Earnings quality
4
Forensic signals
140.4
P / E (ttm)
2.6%
ROE
$6.5B
Market cap
0.90%
Dividend yield
9.0%
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, going concern, valuation). 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.
Enpro Inc. earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads 8.5, placing it in the Safe zone. 4 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
4.8%
FY2025
Return on invested capital.Return on invested capital is 4.8% in the latest fiscal year and rising across FY2021–FY2025 from 3% — well below the ~9% cost of capital we hold this sector to, and it has been across FY2015–FY2025, so reinvested dollars have not been earning their keep. The capital base behind it barely moved across FY2021–FY2025 ($2.3B to $2.4B, +4%), so there has been little new capital for that return to be earned on.
$126M
FY2022–FY2023
Goodwill impairments.Took $126M of goodwill writedowns across 2 years (FY2022 ($65M), FY2023 ($61M)) — about 55% of net income over the span. A large writedown means an acquisition turned out worth far less than was paid — a real mark against M&A discipline.
+12.9%
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets grew +12.9% relative to their own average in FY2025 — scaled by NOA itself, not by total assets, which is what the Forensic Screens card's own accrual row divides by. 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 +16% against revenue +9% and inventory up +11% against +9% in cost of sales. A cash-flow measure on the same base disagrees: reported earnings ran behind operating cash by 8% of net operating assets, against an accruals ratio of 12.9%. The two are computed differently: the accruals ratio is the change in net operating assets over average net operating assets, while the cash-flow figure is net income less operating cash flow over that same average. Read them as two results, not one.
+0.5%/yr
FY2022–FY2025
Share count.Diluted share count changed +1% over the last 3 years to FY2025 (+0.5%/yr). Roughly flat — the count is neither shrinking nor growing meaningfully. Per-share value isn't being meaningfully helped or hurt by the count.
Key fundamentals
Latest Revenue$1.14B
Revenue Growth YoY+9.0%
Revenue CAGR (3yr)+1.3%
Net Margin3.5%
Free Cash Flow$159.2M
Return on Equity2.6%
Debt / Equity0.42x
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 Enpro Inc.'s actual 10-K/10-Q/8-K filings?