National Presto Industries (NPK) FY2025 results: revenue $504 million, up 29.7% on the year
National Presto Industries Inc. (NPK) reported revenue of $504 million for fiscal 2025, the year ended 31 December 2025, up 29.7% on the year before. Net income was $33 million, down 20.2%, and diluted earnings per share $4.63. The figures are the company's own, from the 10-K it filed with the SEC on 13 March 2026.
Revenue
$504 million
+29.7% on the year
FY2018FY2025
Operating margin
8.0%
11.6% a year earlier
FY2018FY2025
Net income
$33 million
-20.2% on the year
FY2018FY2025
Diluted EPS
$4.63
-20.4% on the year
FY2018FY2025
this yearthe year beforeHover a bar for its figure.
The year in brief
What management said about the year
Sales rose 29.7% to $503.5 million: Consolidated net sales for 2025 were $503.5 million, up 29.7% from 2024. Management said the increase was provided by the Defense segment.
Net earnings fell 20.2% to $33.1 million: Net earnings were $33.1 million, or $4.63 per share, compared with $41.5 million, or $5.82 per share, in 2024.
Defense sales rose 42.9%: Defense sales rose $121.9 million, or 42.9%, on higher shipments from a sizable backlog.
Defense operating earnings rose 36.2%: Management attributed a $15.5 million, or 36.2%, rise in Defense operating earnings to the shipment increase.
Tariffs drove the Housewares loss: Management said reduced sales and the material impact of tariffs on costs were the chief cause of the segment's operating loss.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Operating cash flow
-9.1
-53.4
45.4
Capital expenditure
27.0
7.5
1.8
+259.0%
Free cash flow
-36.2
-61.0
43.5
Free cash flow margin
-7.2%
-15.7%
12.8%
Cash from investing
-21.9
15.0
-0.4
Cash from financing
16.6
-31.5
-28.0
Depreciation and amortisation
5.1
5.0
6.0
+1.8%
Share-based compensation
0.6
0.5
0.6
+17.1%
Dividends paid
7.1
32.0
28.4
-77.7%
Diluted shares, weighted
7m
7m
7m
+0.3%
Shares outstanding at period end
7m
7m
7m
+0.2%
Balance sheet
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Shareholders' equity
395
368
356
+7.5%
Debt
23.6
0.0
0.0
Operating lease liabilities
8.9
9.4
10.0
-5.0%
Other liabilities
73.0
76.4
74.3
-4.4%
Total liabilities and equity
501
453
441
+10.4%
Fixed assets
63.9
43.2
39.2
+47.9%
Goodwill
19.4
19.4
19.4
0.0%
Intangible assets
2.3
3.8
5.3
-40.1%
Investments
0.5
5.0
26.5
-90.0%
Cash and equivalents
3.3
17.7
87.7
-81.6%
Receivables
85.0
62.3
48.7
+36.5%
Inventory
307
278
190
+10.4%
Other assets
19.3
24.0
23.3
-19.4%
Total assets
501
453
441
+10.4%
10-K for the year ended 31 December 2025, filed 13 March 2026: the filing.