NPK screens as a classic cyclical valuation trap, an expensive forward multiple versus a much cheaper trailing multiple paired with a negative free-cash-flow-to-earnings quality flag and a failed momentum gate, though the current pullback offers a tactical entry some technicals frame as a buying opportunity.
Thesis pillars
- Cyclical Valuation Trap↑Improving
- Earnings Quality Red Flag↑Improving
- Failed Momentum Gate↑Improving
- +2 more pillars — see the Why tab for full reasoning
National Presto Industries, Inc (NPK) Stock Analysis
Industrials · Aerospace & Defense
Sell if holding. Multiple concerning factors at $149.95: Concentration risk — Supplier: third-party suppliers in China; Earnings expected to decline ~85% (cyclical peak).
National Presto Industries operates three segments: Housewares/Small Appliance (pressure cookers, kitchen electrics and comfort appliances), Defense (40mm ammunition, precision mechanical assemblies and energetic devices for the U.S. Department of Defense), and Safety (smoke,... Read more
Sell if holding. Multiple concerning factors at $149.95: Concentration risk — Supplier: third-party suppliers in China; Earnings expected to decline ~85% (cyclical peak). Chart setup: No clear chart pattern; technical signals are mixed. Score 6.1/10, moderate confidence.
Passes 7/8 gates (positive momentum, clean insider activity, no SEC red flags, news events none recent, earnings proximity 62d clear, semi cycle peak clear, materials cycle peak clear). Suitability: aggressive.
About National Presto Industries, Inc
About National Presto Industries, Inc
National Presto Industries operates three segments, Housewares/Small Appliance, Defense, and Safety, with the Defense segment's contract backlog reaching approximately $1.75 billion at December 31, 2025, up from $1.09 billion a year earlier, on the strength of a sole-source 40mm ammunition systems contract with the U.S. Army carrying a maximum ceiling value of $1.41 billion for its current five-year term. The company employed 1,200 people as of December 31, 2025, including 179 unionized workers at its Amron cartridge-case plant.
The Housewares/Small Appliance segment designs and markets pressure cookers, kitchen electrics and comfort appliances sold primarily in the United States and Canada, sourcing a majority of its products from a handful of third-party suppliers in China on a purchase-order basis without long-term supply contracts. The Defense segment, run through subsidiaries AMTEC, Spectra Technologies, Amron and Woodlawn Manufacturing, produces 40mm ammunition, cartridge cases, energetic devices and metal parts almost entirely under fixed-price U.S. government contracts that permit termination for the government's convenience. The Safety segment, comprising Rely Innovations after National Presto divested Rusoh in 2023 and OneEvent's refrigeration-monitoring assets in 2025, remains startup in nature with limited revenue, selling smoke, carbon monoxide and combination alarms that require Underwriters Laboratories or ETL certification before sale.
Show full overview
National Presto's Defense segment revenue rests on a narrow customer base: AMTEC has been the U.S. Army's sole prime contractor for the 40mm ammunition system across four consecutive five-year contract cycles dating to 2005, with the current FY22-26 award valued at up to $1.41 billion, meaning a failure to win a successor contract after FY26 would remove the segment's largest program. Meanwhile, in the Housewares segment, Amazon.com accounted for 10% and 11% of consolidated net sales in 2024 and 2023, respectively, though the 10-K states no single customer reached that threshold in 2025, and the company continues to warn that losing Amazon as a customer would have a material adverse effect.
See also: Industrials · Aerospace & Defense
From National Presto Industries, Inc's most recent 10-K filing, extracted July 6, 2026.
Recent developments
updated 2026-08-22Recent Developments — National Presto Industries, Inc
Latest news
- NEWS National Presto Indus Q2 EPS $2.21 Up From $0.72 YoY, Sales $146.596M Up From $120.449M YoY — benzinga Aug 3, 2026 positive
Generated 2026-08-23T00:51:56Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Concentration Risks(10-K Item 1A)
- LOWCustomerAmazon.com10%10-K Item 1: 'For the years ended December 31, 2024 and 2023, Amazon.com, Inc. accounted for 10% and 11%, respectively, of the Company's consolidated net sales.'
- MEDIUMCustomerU.S. Government and prime contractors (Defense segment)10-K Item 1A: 'As the Company's sales in the Defense segment are primarily to the U.S. Government and its prime contractors, it depends heavily on the contracts underlying these programs.'
- HIGHSupplierthird-party suppliers in China10-K Item 1A: 'The majority of the housewares/small appliance products are manufactured by a handful of third-party suppliers in Asia, primarily in the People's Republic of China.'
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Rating Breakdown
1 floor-breaker·1 ceiling hit
No near-term catalyst priced in. Thesis progression will come from fundamentals grinding, not event reaction.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Sell if holding. Multiple concerning factors at $149.95: Concentration risk — Supplier: third-party suppliers in China; Earnings expected to decline ~85% (cyclical peak). Chart setup: No clear chart pattern; technical signals are mixed. Prior stop was $140.87. Score 6.1/10, moderate confidence.
Take-profit target: $172.44 (+15.0% upside). Prior stop was $140.87. Stop-loss: $140.87.
Concentration risk — Supplier: third-party suppliers in China; Earnings expected to decline ~85% (cyclical peak); Near 52-week high (3.2% away).
National Presto Industries, Inc trades at a P/E of 25.2 (forward 172.4). TrendMatrix value score: 4.7/10. Verdict: Sell.
What does National Presto Industries, Inc do?National Presto Industries operates three segments: Housewares/Small Appliance (pressure cookers, kitchen electrics and...
National Presto Industries operates three segments: Housewares/Small Appliance (pressure cookers, kitchen electrics and comfort appliances), Defense (40mm ammunition, precision mechanical assemblies and energetic devices for the U.S. Department of Defense), and Safety (smoke, carbon monoxide and combination alarms through subsidiary Rely Innovations). The Defense segment's contract backlog reached approximately $1.75 billion as of December 31, 2025, largely tied to a sole-source 40mm ammunition contract with the U.S. Army, while the Housewares segment sources a majority of its products from th