NL Industries Inc. (NL) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q1 25	$0.21	$0.01	-95.2%	—	$40.3M	—
Q4 24	$0.21	$0.34	+61.9%	—	$38.4M	—
Q3 24	$0.23	$0.74	+221.7%	—	$33.7M	—
Q2 24	$0.13	$0.16	+23.1%	—	$35.9M	—
Q1 24	$0.12	-$0.13	-208.3%	—	$38M	—
Q4 23	$0.06	$0.16	+166.7%	—	$43.2M	—
Q2 23	$0.04	-$0.06	-250.0%	—	$36.6M	—
Q1 23	$0.04	-$0.14	-450.0%	—	$41.2M	—
Q4 22	—	-$0.13	—	—	$40M	—
Q3 22	—	-$0.18	—	—	$42.9M	—
Q2 22	—	$0.62	—	—	$41.7M	—
Q1 22	—	$0.38	—	—	$42M	—
Q4 21	$0.17	$0.31	+82.4%	—	$34.1M	—
Q3 21	$0.22	$0.21	-4.5%	—	$34.6M	—
Q2 21	$0.21	$0.26	+23.8%	—	$36.3M	—
Q1 21	—	$0.27	—	—	$35.9M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	-$0.77	—	—	$158.3M	—
FY24	—	$1.38	—	—	$145.9M	—
FY23	—	-$0.05	—	—	$161.3M	—
FY22	—	$0.69	—	—	$166.6M	—

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$108.9M	$112M	$118.2M	$124.2M	$114.5M	$140.8M	$166.6M	$161.3M	$145.9M	$158.3M
YoY change	-0.07%	+2.86%	+5.52%	+5.1%	-7.81%	+22.9%	+18.3%	-3.17%	-9.51%	+8.46%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	108.9M	112M	118.2M	124.2M	114.5M	140.8M	166.6M	161.3M	145.9M	158.3M
Cost of revenue	73.8M	77.2M	79.9M	85.3M	81.7M	98.1M	117.8M	112.1M	104.6M	110.1M
Gross profit	35.2M	34.8M	38.3M	39M	32.8M	42.7M	48.8M	49.2M	41.4M	48.2M
Gross margin	32.3%	31.1%	32.4%	31.4%	28.7%	30.4%	29.3%	30.5%	28.3%	30.4%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	36.6M	34.5M	39M	35.3M	31.3M	22.9M	24.5M	25.2M	25.6M	26.7M
Operating expenses	36.6M	34.3M	38.4M	27.8M	31.3M	32.9M	36.2M	36.5M	6.1M	38.6M
Operating income	-1.4M	492K	-79K	11.1M	1.6M	9.8M	12.6M	12.8M	35.3M	9.5M
Operating margin	-1.31%	0.44%	-0.07%	8.97%	1.37%	6.98%	7.56%	7.91%	24.2%	6.02%
Non-operating income, net	13.6M	108.2M	-59.3M	11.5M	10.8M	50.6M	23.8M	-28.1M	37.6M	-67.2M
Pretax income	13.9M	112.2M	-54.4M	28.6M	13.6M	60.8M	39.2M	-6.4M	83.3M	-51.4M
Income tax	-2.8M	-5.6M	-15.4M	579K	-2.5M	7.5M	2.8M	-7M	14.1M	-16.1M
Net income	16.7M	117.8M	-39M	28M	16.1M	53.4M	36.5M	582K	69.3M	-35.4M
Net margin	15.3%	105.2%	-33%	22.6%	14.1%	37.9%	21.9%	0.36%	47.5%	-22.3%
EBITDA	17.3M	115.6M	70.8M	48M	27.4M	49.6M	52.2M	11.4M	76.3M	-13.8M
EPS	0.31	2.38	-0.84	0.53	0.3	1.05	0.69	-0.05	1.38	-0.77
Diluted EPS	0.31	2.38	-0.84	0.53	0.3	1.05	0.69	-0.05	1.38	-0.77

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	40.4M	43.2M	38M	35.9M	33.7M	38.4M	40.3M	40.4M	40M	37.7M	40.6M	43.6M
Cost of revenue	27.7M	29.5M	28.3M	24.7M	24.2M	27.4M	28.1M	27.5M	28.9M	25.6M	27.3M	28.1M
Gross profit	12.6M	13.6M	9.7M	11.2M	9.5M	11.1M	12.2M	12.9M	11M	12.1M	13.3M	15.5M
Gross margin	31.3%	31.6%	25.5%	31.1%	28.1%	28.8%	30.2%	31.9%	27.6%	32.1%	32.7%	35.6%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	6.5M	6.4M	6.3M	6.4M	6.4M	6.4M	6.3M	6.9M	6.3M	7.6M	6.2M	6.6M
Operating expenses	9.6M	9.1M	8.6M	10.7M	8.8M	-22.3M	9M	10.4M	9.2M	10.4M	9.1M	9.4M
Operating income	3M	4.6M	1M	473K	618K	33.4M	3.1M	2.5M	1.9M	1.7M	4.1M	6.1M
Operating margin	7.42%	10.6%	2.73%	1.32%	1.84%	86.9%	7.82%	6.23%	4.63%	4.6%	10.1%	14.1%
Non-operating income, net	-5.4M	691K	4.9M	6.8M	41.7M	-16M	-3.3M	-2.9M	-12.1M	-48.6M	1.2M	5.1M
Pretax income	-297K	8.3M	8.3M	9.8M	44.9M	20.4M	1.3M	1M	-8.2M	-45.5M	6.6M	12.4M
Income tax	-965K	-157K	988K	1.3M	8.5M	3.3M	-23K	-43K	-854K	-15.1M	1.5M	2.5M
Net income	668K	8.4M	7.3M	8.5M	36.4M	17.1M	1.3M	1.1M	-7.4M	-30.4M	5.1M	9.9M
Net margin	1.66%	19.6%	19.3%	23.6%	108%	44.6%	3.28%	2.61%	-18.4%	-80.6%	12.6%	22.7%
EBITDA	97K	7.1M	7M	10M	26.2M	33.3M	11.4M	2.1M	-6.8M	-20.5M	4.8M	12.8M
EPS	-0	—	0.14	0.16	0.74	0.34	0.01	0.01	-0.16	-0.63	0.09	0.18
Diluted EPS	-0	—	0.14	0.16	0.74	0.34	0.01	0.01	-0.16	-0.63	0.09	0.18

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	396.9M	694M	170.9M	190.4M	233.3M	361.1M	332.3M	273.9M	379.2M	267.5M	342.3M
Enterprise value	304.2M	596.2M	55.2M	61.2M	96.7M	214.6M	193.8M	109.7M	216.5M	157.4M	256.5M
Shares outstanding	48.7M	48.7M	48.7M	48.7M	48.8M	48.8M	48.8M	48.8M	48.8M	48.9M	48.9M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	23.8	5.89	—	6.79	14.5	6.77	9.12	470.7	5.47	—	27.6
P/S	3.64	6.19	1.45	1.53	2.04	2.56	2	1.7	2.6	1.69	2.16
P/B	2.04	1.97	0.56	0.58	0.7	0.94	0.83	0.7	0.91	0.71	0.95
EV/EBITDA	17.6	5.16	0.78	1.28	3.53	4.33	3.71	9.66	2.84	-11.4	7.84
EV/Sales	2.79	5.32	0.47	0.49	0.84	1.52	1.16	0.68	1.48	0.99	1.58
Earnings yield	4.21%	17%	—	14.7%	6.9%	14.8%	11%	0.21%	18.3%	—	3.62%
FCF yield	6.17%	2.28%	8.17%	12.7%	7.41%	3.74%	6.99%	13.1%	6.37%	-15%	5.35%
PEG	—	—	—	—	—	—	—	—	—	—	0.02

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	32.3%	31.1%	32.4%	31.4%	28.7%	30.4%	29.3%	30.5%	28.3%	30.4%	35.6%
Operating margin	-1.31%	0.44%	-0.07%	8.97%	1.37%	6.98%	7.56%	7.91%	24.2%	6.02%	15.4%
Net margin	15.3%	105.2%	-33%	22.6%	14.1%	37.9%	21.9%	0.36%	47.5%	-22.3%	-15.8%
ROE	8.59%	33.4%	-12.9%	8.57%	4.8%	13.9%	9.05%	0.15%	16.7%	-9.39%	-5.7%
ROA	4.34%	21.4%	-7.13%	5.03%	2.94%	8.95%	5.98%	0.1%	12%	-7.62%	3.67%
ROIC	-1.4%	0.19%	-0.04%	5.51%	0.79%	3.61%	4.43%	5.61%	11.6%	3.58%	5%
Return on tangible assets	5.05%	23.7%	-7.91%	5.57%	3.26%	9.85%	6.56%	0.11%	13.2%	-8.63%	-5.47%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	4.02	6.67	2.05	5.52	6.22	6.33	6.05	7.17	2.61	7.77	9.02
Quick ratio	3.53	5.89	1.84	4.91	5.56	5.49	5.08	6.16	2.3	6.29	7.27
Debt / equity	0	0	0	0	0	0	0	0	0	0	0
Debt / assets	0	0	0	0	0	0	0	0	0	0	0
Net debt / EBITDA	-5.37	-0.85	-1.64	-2.69	-4.98	-2.95	-2.65	-14.4	-2.13	8.01	10.9
Interest coverage	3.5K	3.7K	-1.5K	43	11.1	54.3	42.7	-7.6	158.2	-66	-282
Effective tax rate	0%	0%	0%	2.02%	0%	12.3%	7.1%	0%	16.9%	0%	0%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	2.24	2.3	2.43	2.55	2.35	2.89	3.41	3.3	2.99	3.24	3.31
EPS (basic)	0.31	2.38	-0.84	0.53	0.3	1.05	0.69	-0.05	1.38	-0.77	-0.77
EPS (diluted)	0.31	2.38	-0.84	0.53	0.3	1.05	0.69	-0.05	1.38	-0.77	-0.52
Book value per share	3.99	7.25	6.23	6.72	6.87	7.89	8.25	8.02	8.52	7.71	7.42
FCF per share	0.5	0.33	0.29	0.5	0.35	0.28	0.48	0.73	0.49	-0.82	0.17
Cash per share	1.91	2.02	2.39	2.66	2.81	3.01	2.85	3.37	3.34	2.26	2.19
Capex per share	—	0	0	0.1	0	0	—	—	0.1	0.08	0.06

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	—	0%	0%	3.73%	0%	0%	—	—	3.43%	2.37%	1.92%
Capex / operating cash flow	—	0%	0%	12.6%	0%	0%	—	—	8.67%	-10.3%	27.7%
Payout ratio	—	—	0%	0%	48.5%	21.9%	84.4%	2.3K%	52.9%	-78.7%	175%
Dividend yield	—	—	0%	0%	3.35%	3.24%	9.25%	4.99%	9.66%	10.4%	5.71%

Yield

5.71%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.10

ex-dividend Sep 3, 2026

Payout ratio

175%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 3, 2026	$0.10
Jun 4, 2026	$0.10
Mar 10, 2026	$0.10

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$40.4M	$43.2M	$38M	$35.9M	$33.7M	$38.4M	$40.3M	$40.4M	$40M	$37.7M	$40.6M	$43.6M
YoY change	-5.85%	+7.99%	-7.73%	-1.99%	-16.6%	-11%	+6.06%	+12.5%	+18.7%	-1.87%	+0.74%	+8.05%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	93.2M	98.3M	116.3M	129.7M	137M	147M	139M	164.7M	163.2M	110.6M
Receivables	10.4M	10.5M	12.2M	11.9M	10.8M	15.6M	17.9M	16.6M	14.2M	13.8M
Inventory	15M	15.4M	17.1M	18.3M	18.3M	25.6M	31.3M	30.7M	28.4M	30.4M
Total current assets	123.5M	130.7M	166.6M	164.7M	171.2M	193.6M	194M	218.3M	238M	159.9M
Property, plant & equipment	76.9M	77.4M	76.6M	75.7M	74M	76.7M	79.6M	2.6M	764K	75K
Goodwill & intangibles	54.3M	54.3M	54.3M	54.3M	54.3M	54.3M	54.3M	54.3M	54.3M	54.3M
Total assets	385M	551.6M	547.2M	557.5M	548.1M	596.2M	609.9M	576.7M	578.3M	464.2M
Accounts payable	5M	4.1M	4.8M	3.4M	2.6M	3.4M	3.5M	3.1M	3.8M	2.7M
Short-term debt	—	—	—	—	—	—	—	—	—	—
Total current liabilities	30.7M	19.6M	81.3M	29.8M	27.5M	30.6M	32.1M	30.4M	91.1M	20.6M
Long-term debt	500K	500K	500K	500K	500K	500K	500K	500K	500K	500K
Total liabilities	190.7M	198.5M	243.7M	230.3M	212.8M	211.2M	207.1M	184.9M	162.4M	87.4M
Shareholders' equity	194.3M	353.1M	303.6M	327.2M	335.3M	385M	402.7M	391.8M	415.9M	376.8M
Total debt	500K	500K	500K	500K	500K	500K	500K	500K	500K	500K
Net debt	-92.7M	-97.8M	-115.8M	-129.2M	-136.5M	-146.5M	-68.4M	-111M	-162.7M	-110.1M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	146.1M	164.7M	167.9M	179.4M	146M	163.2M	110M	111.5M	101.9M	110.6M	101.9M	107M
Receivables	19.8M	16.6M	17.4M	15.5M	14.5M	14.2M	18.1M	17M	17.9M	13.8M	19M	19.6M
Inventory	34.3M	30.7M	27.5M	27.4M	28M	28.4M	29.2M	32.9M	31M	30.4M	30.1M	31.8M
Total current assets	206.1M	218.3M	218.3M	227.4M	225.6M	238M	179.6M	183.7M	174.3M	159.9M	155.9M	163.6M
Property, plant & equipment	3M	2.6M	1.9M	1.5M	999K	764K	298K	624K	710K	75K	833K	840K
Goodwill & intangibles	54.3M	54.3M	54.3M	54.3M	54.3M	54.3M	54.3M	54.3M	54.3M	54.3M	54.3M	54.3M
Total assets	570.5M	576.7M	568.8M	580M	585.6M	578.3M	520M	523.7M	500.2M	464.2M	461.2M	470.6M
Accounts payable	4M	3.1M	3.1M	3.8M	3.3M	3.8M	4M	4.1M	3.2M	2.7M	3.2M	3.9M
Short-term debt	—	—	—	—	—	—	—	—	—	—	—	—
Total current liabilities	30M	30.4M	24.6M	29.6M	33.6M	91.1M	30.9M	34M	35.2M	20.6M	14.6M	18.1M
Long-term debt	500K	500K	500K	500K	500K	500K	500K	500K	500K	500K	1.4M	1.4M
Total liabilities	184.8M	184.9M	178.7M	184.8M	180.7M	162.4M	103.2M	106.7M	106.9M	87.4M	83.6M	88.7M
Shareholders' equity	385.7M	391.8M	390.1M	395.2M	404.9M	415.9M	416.8M	417M	393.3M	376.8M	377.6M	381.8M
Total debt	500K	500K	500K	500K	500K	500K	500K	500K	500K	500K	1.4M	1.4M
Net debt	-65.3M	-111M	-137.8M	-167M	-145.5M	-162.7M	-109.5M	-111M	-101.4M	-110.1M	-100.5M	-105.6M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	16.7M	117.8M	-39M	28M	16.1M	53.4M	36.5M	582K	69.3M	-35.4M
Depreciation & amortization	3.8M	3.7M	3.5M	3.7M	3.8M	3.8M	4M	4M	3.7M	3.7M
Stock-based compensation	—	—	—	—	—	—	—	—	—	—
Change in working capital	3.5M	-15.2M	47.3M	3.7M	-13.4M	-12.3M	-9.5M	-310K	-28.9M	-47.6M
Operating cash flow	20M	106.1M	-3.5M	36.8M	5.5M	53.4M	33.9M	-5.7M	57.6M	-36.4M
Capital expenditure	—	0	0	4.6M	0	0	—	—	5M	-3.7M
Investing cash flow	-27.4M	-10.8M	4.4M	13.1M	-1.4M	10.8M	-64.2M	23.2M	60.3M	-2.4M
Dividends paid	—	—	0	0	-7.8M	-11.7M	-30.8M	-13.7M	-36.6M	-27.9M
Share repurchases	—	—	—	0	0	-1.3M	-1.7M	0	0	—
Financing cash flow	168K	-333K	-335K	-470K	-8.5M	-14.3M	-36.8M	-15.2M	-41.6M	-31.3M
Net change in cash	-7.2M	94.9M	630K	49.4M	-4.4M	49.9M	-67.1M	2.3M	76.3M	-70.1M
Free cash flow	24.5M	15.8M	14M	24.3M	17.3M	13.5M	23.2M	35.9M	24.1M	-40.1M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	668K	8.4M	7.3M	8.5M	36.4M	17.1M	1.3M	1.1M	-7.4M	-30.4M	5.1M	9.9M
Depreciation & amortization	987K	977K	926K	920K	917K	928K	945K	923K	896K	888K	868K	857K
Stock-based compensation	—	—	—	—	—	—	—	—	—	—	—	—
Change in working capital	-5.5M	6M	1.2M	924K	566K	-31.6M	-51.7M	-2.5M	906K	5.7M	-4.7M	-2.7M
Operating cash flow	-5.8M	14.6M	10M	11.5M	46.5M	-10.3M	-49.4M	7.3M	7.9M	-4.2M	-3.5M	11M
Capital expenditure	—	—	—	—	—	—	—	-1.3M	-983K	-599K	-404K	-1.1M
Investing cash flow	16.8M	29.4M	24.8M	18.6M	13.3M	-1.4M	10K	-943K	-183K	-499K	196K	-518K
Dividends paid	-3.4M	-3.4M	-3.9M	-3.9M	-24.9M	-3.9M	-4.4M	-4.4M	-14.7M	-4.4M	-4.9M	-4.9M
Share repurchases	0	0	—	—	—	—	—	—	—	—	—	—
Financing cash flow	-3.8M	-3.8M	-4.4M	-4.4M	-28.5M	-4.4M	-4.9M	-4.9M	-16.7M	-4.9M	-5.4M	-5.4M
Net change in cash	7.2M	40.2M	30.4M	25.7M	31.3M	-16.1M	-54.2M	1.5M	-8.9M	-9.5M	-8.7M	5.1M
Free cash flow	-5.5M	21M	6.4M	15.1M	-6.1M	8.7M	-48.3M	5.9M	7M	-4.7M	-3.9M	9.8M

Date	Ratio
Dec 23, 1988	4:10
Jul 28, 1986	5:1

NL Industries Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history