NPKI

MKT CAP:$1B

NPK International Inc.

Market Cap

$1B

Energy·Oil & Gas Equipment & Services·🇺🇸 United States·NYSE

Energy·Oil & Gas Equipment & Services·🇺🇸·NYSE

Stock Price

$14.48+$2.38 (+19.71%)

Apr 22, 2026

Company Details

NPK International Inc. provides products, rentals, and services primarily to the oil and natural gas exploration and production (E&P) industry. It operates through two segments, Fluids Systems and Industrial Solutions. The Fluids Systems se...

CEO

Matthew S. Lanigan

IPO Date

Sep 6, 1990

Website

www.npki.com

Key Metrics TTM

Revenue

$233M

-30.6% YoY

Net Income

-$148M

EPS (Diluted)

-$1.71

Free Cash Flow

-$5M

Revenue / Share

$2.68

Gross Margin

36.1%

Operating Margin

16.5%

Net Margin

-63.2%

FCF Margin

-2.0%

P/S

5.4x

P/E

—

Earnings Reports

Q2 2025

May 7, 2026

PENDING

Q1 2025

Mar 31, 2025

$65M+32.3%EPS $0.12

FY 2024

Dec 31, 2024

$217M+4.7%EPS -$1.75

Q4 2024

Dec 31, 2024

$58M+23.8%EPS $0.10

Q3 2024

Sep 30, 2024

$44M-22.8%EPS -$2.02

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 21	$142M	$18M	-$3M
Q3 21	$152M	$20M	-$6M
Q4 21	$180M	$26M	-$59.0K
Q1 22	$176M	$25M	$967.0K
Q2 22	$194M	$26M	-$6M
Q3 22	$220M	$32M	-$21M
Q4 22	$225M	$38M	$18M
Q1 23	$200M	$35M	$10M
Q2 23	$183M	$33M	$6M
Q3 23	$57M	$20M	$6M
Q4 23	$46M	$16M	$11M
Q1 24	$49M	$18M	$6M
Q2 24	$67M	$24M	$12M
Q3 24	$44M	$12M	$1M
Q4 24	$58M	$23M	$12M
Q1 25	$65M	$25M	$14M

Valuation

Quarter	P/S	P/E
Q2 21	1.4x	—
Q3 21	1.2x	—
Q4 21	1.1x	—
Q1 22	1.1x	—
Q2 22	1.0x	—
Q3 22	0.9x	—
Q4 22	0.9x	—
Q1 23	0.8x	—
Q2 23	0.8x	—
Q3 23	1.0x	29.0x
Q4 23	1.4x	48.0x
Q1 24	2.1x	43.0x
Q2 24	3.2x	30.9x
Q3 24	3.4x	—
Q4 24	3.0x	—
Q1 25	2.2x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 21	-$2M	-$4M
Q3 21	-$12M	-$21M
Q4 21	-$17M	-$19M
Q1 22	$3M	-$5M
Q2 22	-$26M	-$28M
Q3 22	-$5M	-$13M
Q4 22	$3M	-$7M
Q1 23	$29M	$22M
Q2 23	$7M	-$971.0K
Q3 23	$27M	$22M
Q4 23	$36M	$27M
Q1 24	$12M	-$2M
Q2 24	$28M	$21M
Q3 24	$3M	-$7M
Q4 24	-$4M	-$18M
Q1 25	$9M	-$1M

Capital Expenditures

Quarter	CapEx
Q2 21	$2M
Q3 21	$9M
Q4 21	$3M
Q1 22	$8M
Q2 22	$2M
Q3 22	$8M
Q4 22	$11M
Q1 23	$7M
Q2 23	$8M
Q3 23	$5M
Q4 23	$9M
Q1 24	$14M
Q2 24	$7M
Q3 24	$9M
Q4 24	$14M
Q1 25	$10M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 21	+39.5%	+9.8%
Q3 21	+57.4%	+29.3%
Q4 21	+38.4%	+22.8%
Q1 22	+25.0%	+24.8%
Q2 22	+36.5%	+37.7%
Q3 22	+44.8%	+52.8%
Q4 22	+25.4%	+15.6%
Q1 23	+13.4%	+8.2%
Q2 23	-5.6%	-11.5%
Q3 23	-74.0%	-78.9%
Q4 23	-79.4%	-82.7%
Q1 24	-75.5%	-77.4%
Q2 24	-63.6%	-69.2%
Q3 24	-22.8%	-15.7%
Q4 24	+23.8%	+27.7%
Q1 25	+32.3%	+19.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 21	$2M	1.4%
Q3 21	$2M	1.6%
Q4 21	$2M	1.2%
Q1 22	$1M	0.8%
Q2 22	$2M	0.9%
Q3 22	$2M	0.9%
Q4 22	$2M	0.8%
Q1 23	$2M	0.9%
Q2 23	$2M	0.9%
Q3 23	$2M	2.9%
Q4 23	$2M	3.6%
Q1 24	$1M	3.1%
Q2 24	$2M	2.4%
Q3 24	$997.0K	2.3%
Q4 24	$1M	2.0%
Q1 25	$1M	1.8%

OpEx Breakdown

Quarter	SG&A
Q2 21	$23M
Q3 21	$24M
Q4 21	$27M
Q1 22	$24M
Q2 22	$24M
Q3 22	$24M
Q4 22	$25M
Q1 23	$25M
Q2 23	$26M
Q3 23	$14M
Q4 23	$5M
Q1 24	$12M
Q2 24	$12M
Q3 24	$11M
Q4 24	$11M
Q1 25	$12M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$21M	$0	$21M
Q2 22	$20M	$0	$20M
Q3 22	$20M	$0	$20M
Q4 22	$23M	$0	$23M
Q1 23	$24M	$0	$24M
Q2 23	$22M	$0	$22M
Q3 23	$27M	$0	$27M
Q4 23	$789.0K	$0	$789.0K
Q1 24	$38M	$0	$38M
Q2 24	$35M	$0	$35M
Q3 24	$43M	$0	$43M
Q4 24	$18M	$0	$18M
Q1 25	$21M	$0	$21M
Q2 25	$26M	$0	$26M
Q3 25	$36M	$0	$36M
Q4 25	$5M	$0	$5M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 21	91M	+0.5%	+1.3%
Q3 21	92M	+0.9%	+1.5%
Q4 21	92M	+0.1%	+1.6%
Q1 22	94M	+2.1%	+3.6%
Q2 22	93M	-1.4%	+1.7%
Q3 22	94M	+1.2%	+2.0%
Q4 22	93M	-0.3%	+1.6%
Q1 23	91M	-3.1%	-3.6%
Q2 23	87M	-3.4%	-5.6%
Q3 23	88M	+0.6%	-6.1%
Q4 23	85M	-3.4%	-9.1%
Q1 24	87M	+2.6%	-3.7%
Q2 24	88M	+0.4%	+0.2%
Q3 24	87M	-0.2%	-0.6%
Q4 24	87M	-0.1%	+2.8%
Q1 25	87M	-0.5%	-0.3%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 21	$91.2K	2K
Q3 21	$97.3K	2K
Q4 21	$114.7K	2K
Q1 22	$112.7K	2K
Q2 22	$124.1K	2K
Q3 22	$140.5K	2K
Q4 22	$146.2K	2K
Q1 23	$129.9K	2K
Q2 23	$119.0K	2K
Q3 23	$37.2K	2K
Q4 23	$30.0K	2K
Q1 24	$31.6K	2K
Q2 24	$43.1K	2K
Q3 24	$28.5K	2K
Q4 24	$125.1K	460
Q1 25	$140.8K	460

Revenue / Employee