NPK International is a small-cap building products company with a strong Piotroski F-Score of 8 out of 9 and analyst targets implying 17% upside, but momentum is barely below the threshold, volume is in distribution, and high leverage at 5.5 times debt-to-equity constrains financial flexibility.
Thesis pillars
- High Leverage Financial Constraint→Stable
- Strong Financial Health Piotroski→Stable
- Analyst Upside With Consistent Beats→Stable
- +1 more pillar — see the Why tab for full reasoning
Pillars as of Jul 3, 2026, based on the 10-K filed Feb 27, 2026
NPK International Inc. (NPKI) Stock Analysis
Recovery setup
Industrials · Building Products & Equipment
Sell if holding. Multiple concerning factors at $11.20: Sector modifier (Industrials): -0.7; Negative news sentiment (-0.56).
NPK International (formerly Newpark Resources) manufactures, sells and rents recyclable composite matting products for temporary worksite access, serving power transmission, oil and gas, pipeline, renewable energy and construction customers in the United States and United... Read more
Sell if holding. Multiple concerning factors at $11.20: Sector modifier (Industrials): -0.7; Negative news sentiment (-0.56). Chart setup: Death cross but MACD improving, RSI 47. Score 6.1/10, moderate confidence.
Passes 7/8 gates (positive momentum, favorable risk/reward ratio, clean insider activity, no SEC red flags, earnings proximity no date, semi cycle peak clear, materials cycle peak clear). Suitability: aggressive.
About NPK International Inc.
About NPK International Inc.
NPK International generated 66 percent of its 2025 revenue from the rental of recyclable composite matting systems and related site services, with the remaining 34 percent from manufactured mat sales, across customers in power transmission, oil and gas, pipeline, renewable energy and construction markets in the United States and United Kingdom. Approximately 60 percent of 2025 rental and service revenue came from the power transmission sector, and the company generated 93 percent of revenue domestically.
NPK International, formerly known as Newpark Resources before its December 2024 rebrand, manufactures its proprietary DURA-BASE composite mats at a single facility in Carencro, Louisiana, using High Density Polyethylene as its primary raw material sourced from multiple widely available suppliers. The company's 20 largest customers accounted for 74 percent of 2025 revenue, with its single largest customer, driven by matting rental, representing 19 percent, while its second- and third-largest customers, driven primarily by product sales, contributed 15 percent and 10 percent, respectively. NPK competes against wood-mat providers led by United Rentals in the fragmented rental and services market, and against composite-mat rivals Signature Systems and Spartan Mat in the more concentrated sales market, while expanding through its November 2025 acquisition of U.K. ground-protection provider Grassform Plant Hire for approximately £34.9 million ($46.0 million).
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NPK International's revenue depends heavily on a small customer base with limited contractual protection: most rental and service agreements are short-term or cancellable upon short notice, meaning the loss of even one of the 20 customers that generate 74 percent of revenue could materially affect results. The company's United Kingdom operations, which produced about 7 percent of 2025 revenue but represented 21 percent of total assets following the Grassform acquisition, add geographic concentration risk should growth in that region slow, and the company's $150 million revolving credit facility, entered in June 2025 and secured by substantially all U.S. personal property, would constrain flexibility if covenant compliance were breached.
See also: Industrials · Building Products & Equipment
From NPK International Inc.'s most recent 10-K filing, extracted July 6, 2026.
Recent developments
updated 2026-10-30Recent Developments — NPK International Inc.
Latest news
- NEWS Is NPK International Inc (NPKI) Overvalued After Q2 Earnings Bea - GuruFocus — GuruFocus positive
- NEWS Earnings Flash (NPKI) NPK International Inc. Posts Q2 Adjusted EPS $0.15 per Share, vs. FactSet Est of $0.13 - marketscr — marketscreener.com positive
- NEWS NPK International (NPKI) Could Be 36% Undervalued Following Its Board Appointment - simplywall.st — simplywall.st positive
- NEWS NPKI Q2 2026 Earnings: EPS Beat of $0.15 Tops Estimates Despite Muted Stock Reaction - Net Income Trends - https://www.d — https://www.dars.gov.et/ positive
- NEWS NPKI Q2 2026 Earnings: EPS Beat of $0.15 Tops Estimates Despite Muted Stock Reaction - Guidance Update - dars.gov.et — dars.gov.et positive
Generated 2026-10-30T10:27:54Z.
Upcoming dated catalysts
Thesis
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Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Editorial policy
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Rating Breakdown
1 ceiling hit
Price Targets
Position Sizing
Analyst Consensus
Earnings
Verdict History
Frequently Asked Questions
Sell if holding. Multiple concerning factors at $11.20: Sector modifier (Industrials): -0.7; Negative news sentiment (-0.56). Chart setup: Death cross but MACD improving, RSI 47. Prior stop was $10.56. Score 6.1/10, moderate confidence.
Analyst target: $17.28 (+54.3% upside). Prior stop was $10.56. Stop-loss: $10.56.
Sector modifier (Industrials): -0.7; Negative news sentiment (-0.56); Below 200-MA, MA slope -1.2%/30d (confirmed downtrend).
NPK International Inc. trades at a P/E of 24.3 (forward 17.9). TrendMatrix value score: 6.3/10. Verdict: Sell.
10 analysts cover NPKI with a consensus score of 4.1/5. Average price target: $20.
What does NPK International Inc. do?NPK International (formerly Newpark Resources) manufactures, sells and rents recyclable composite matting products for...
NPK International (formerly Newpark Resources) manufactures, sells and rents recyclable composite matting products for temporary worksite access, serving power transmission, oil and gas, pipeline, renewable energy and construction customers in the United States and United Kingdom. In 2025, 66% of revenue came from matting rental and related services and 34% from mat sales, with approximately 60% of rental and service revenue tied to the power transmission sector and 93% of total revenue generated domestically.