Enpro (NPO) FY2024 results: revenue $1.0 billion, down 1.0% on the year

Enpro Inc. (NPO) reported revenue of $1.0 billion for fiscal 2024, the year ended 31 December 2024, down 1.0% on the year before. Net income was $73 million, up 228.4%, and diluted earnings per share $3.45. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2025.

Revenue

$1.0 billion

-1.0% on the year

FY2017FY2024

Operating margin

13.6%

7.3% a year earlier

FY2017FY2024

Net income

$73 million

+228.4% on the year

FY2017FY2024

Diluted EPS

$3.45

+228.6% on the year

FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	1,049	1,059	1,099	-1.0%
Cost of revenue	604	632	676	-4.5%
Gross profit	445	427	423	+4.2%
Gross margin	42.4%	40.3%	38.5%
Research and development	10.9	9.5	10.1	+14.7%
Selling, general and administrative	296	284	283	+4.3%
Operating income	142	76.8	72.2	+85.3%
Operating margin	13.6%	7.3%	6.6%
Interest expense	40.9	45.0	35.6	-9.1%
Pre-tax income	94.4	37.7	28.3	+150.4%
Income tax	21.5	30.8	24.4	-30.2%
Effective tax rate	22.8%	81.7%	86.2%
Net income	72.9	22.2	205	+228.4%
Net margin	7.0%	2.1%	18.7%
Diluted EPS	$3.45	$1.05	$9.83	+228.6%

$ million except per share.

Free 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	FY2024	FY2023	FY2022	On the year
Operating cash flow	163	208	127	-21.6%
Capital expenditure	29.1	33.9	29.4	-14.2%
Free cash flow	134	174	98.0	-23.1%
Free cash flow margin	12.8%	16.4%	8.9%
Cash from investing	-242	-7.4	n/a
Cash from financing	-50.5	-171	-402
Depreciation and amortisation	100	94.5	103	+6.1%
Share-based compensation	12.0	9.8	6.5	+22.4%
Dividends paid	25.3	24.3	23.4	+4.1%
Dividend per share	$1.20	$1.12	$1.12	+7.1%
Diluted shares, weighted	21m	21m	21m	+0.5%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	1,429	1,410	1,395	+1.3%
Redeemable equity	0.0	17.9	17.9
Short-term borrowings	n/a	n/a	0.0
Debt	640	647	791	-1.0%
Operating lease liabilities	44.4	40.6	38.1	+9.4%
Other liabilities	378	384	406	-1.6%
Total liabilities and equity	2,492	2,500	2,648	-0.3%
Fixed assets	193	194	185	-0.3%
Goodwill	896	808	864	+10.9%
Investments	n/a	n/a	0.0
Cash and equivalents	236	370	334	-36.1%
Inventory	139	143	152	-2.7%
Other assets	1,027	985	1,112	+4.3%
Total assets	2,492	2,500	2,648	-0.3%

10-K for the year ended 31 December 2024, filed 21 February 2025: the filing.