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NL Industries (NL) Financials

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$6.01 -0.05 (-0.87%)
Closing price 03:59 PM Eastern
Extended Trading
$5.95 -0.06 (-0.95%)
As of 06:58 PM Eastern
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Annual Income Statements for NL Industries

Annual Income Statements for NL Industries

This table shows NL Industries' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -24 15 116 -41 26 15 51 34 -2.31 67 -38
Consolidated Net Income / (Loss)		 -23 17 118 -39 28 16 53 36 0.58 69 -35
Net Income / (Loss) Continuing Operations		 -23 17 118 -39 28 16 53 36 0.58 69 -35
Total Pre-Tax Income 		-51 14 112 -54 29 14 61 39 -6.42 83 -51
Total Operating Income		 0.27 -0.72 1.70 -61 -1.61 2.36 10 14 14 38 11
Total Gross Profit		 33 35 35 38 39 33 43 49 49 41 48
Total Revenue		 109 109 112 118 124 115 141 167 161 146 158
Operating Revenue		 109 109 112 118 124 115 141 167 161 146 158
Total Cost of Revenue		 76 74 77 80 85 82 98 118 112 105 110
Operating Cost of Revenue		 76 74 77 80 85 82 98 118 112 105 110
Total Operating Expenses		 33 36 33 99 41 30 32 35 35 3.49 38
Selling, General & Admin Expense		 37 36 34 39 34 30 32 23 24 24 26
Other Operating Expenses / (Income)		 -0.12 -0.01 -0.17 -0.64 -7.44 - - 12 12 -19 12
Other Special Charges / (Income)		 -3.66 -0.44 -0.38 61 14 - - -0.09 -0.46 -1.37 0.00
Total Other Income / (Expense), net		 -52 15 110 6.29 30 11 50 26 -21 45 -62
Interest Expense		 - 0.00 0.03 0.04 0.68 1.35 1.14 0.94 2.11 0.53 0.77
Interest & Investment Income		 -52 15 111 67 33 22 36 36 -14 37 -27
Other Income / (Expense), net		 0.00 -0.27 -0.83 -61 -2.24 -9.46 16 -9.22 -4.91 8.61 -34
Income Tax Expense		 -29 -2.78 -5.63 -15 0.58 -2.52 7.48 2.79 -7.00 14 -16
Net Income / (Loss) Attributable to Noncontrolling Interest		 1.19 1.37 1.73 2.00 2.19 1.42 2.17 2.61 2.89 2.03 2.46
Basic Earnings per Share		 ($0.49) $0.31 $2.38 ($0.84) $0.53 $0.30 $1.05 $0.69 ($0.05) $1.38 ($0.77)
Weighted Average Basic Shares Outstanding		 48.69M 48.70M 48.71M 48.73M 48.75M 48.78M 48.80M 48.81M 48.83M 48.84M 48.86M
Diluted Earnings per Share		 ($0.49) $0.31 $2.38 ($0.84) $0.53 $0.30 $1.05 $0.69 ($0.05) $1.38 ($0.77)
Weighted Average Diluted Shares Outstanding		 48.69M 48.70M 48.71M 48.73M 48.75M 48.78M 48.80M 48.81M 48.83M 48.84M 48.86M
Weighted Average Basic & Diluted Shares Outstanding		 48.69M 48.70M 48.71M 48.73M 48.75M 48.78M 48.80M 48.82M 48.83M 48.85M 48.86M
Cash Dividends to Common per Share		 - - - - - $0.16 $0.24 $0.63 $0.28 $0.75 $0.57

Quarterly Income Statements for NL Industries

This table shows NL Industries' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 -0.07 7.59 6.84 7.84 36 17 0.67 0.36 -7.87 -31 4.34
Consolidated Net Income / (Loss)		 0.67 8.44 7.32 8.45 36 17 1.32 1.05 -7.37 -30 5.09
Net Income / (Loss) Continuing Operations		 0.67 8.44 7.32 8.45 36 17 1.32 1.05 -7.37 -30 5.09
Total Pre-Tax Income 		-0.30 8.29 8.30 9.76 45 20 1.30 1.01 -8.22 -46 6.57
Total Operating Income		 3.68 4.83 1.36 0.79 2.04 34 3.15 2.80 1.85 2.88 4.11
Total Gross Profit		 13 14 9.67 11 9.47 11 12 13 11 12 13
Total Revenue		 40 43 38 36 34 38 40 40 40 38 41
Operating Revenue		 40 43 38 36 34 38 40 40 40 38 41
Total Cost of Revenue		 28 30 28 25 24 27 28 27 29 26 27
Operating Cost of Revenue		 28 30 28 25 24 27 28 27 29 26 27
Total Operating Expenses		 8.94 8.79 8.31 10 7.43 -23 9.02 10 9.18 9.22 9.15
Selling, General & Admin Expense		 9.24 -2.82 5.95 6.08 6.12 -2.88 6.29 6.57 6.27 6.44 6.20
Other Operating Expenses / (Income)		 - - 2.36 4.29 2.41 - 2.72 3.52 2.91 2.78 2.94
Total Other Income / (Expense), net		 -3.98 3.46 6.95 8.96 43 -13 -1.85 -1.79 -10 -48 2.46
Interest Expense		 0.20 0.15 0.15 0.15 0.15 0.09 0.58 0.09 0.09 0.01 0.01
Interest & Investment Income		 -3.89 7.02 5.03 8.65 25 -1.02 7.56 -1.42 -9.24 -24 -0.23
Other Income / (Expense), net		 0.11 -3.42 2.07 0.46 18 -12 -8.84 -0.29 -0.74 -25 2.70
Income Tax Expense		 -0.97 -0.16 0.99 1.30 8.51 3.26 -0.02 -0.04 -0.85 -15 1.47
Net Income / (Loss) Attributable to Noncontrolling Interest		 0.74 0.86 0.48 0.62 0.36 0.58 0.66 0.70 0.50 0.60 0.75
Basic Earnings per Share		 $0.00 $0.15 $0.14 $0.16 $0.74 $0.34 $0.01 $0.01 ($0.16) ($0.63) $0.09
Weighted Average Basic Shares Outstanding		 48.83M 48.83M 48.83M 48.84M 48.85M 48.84M 48.85M 48.86M 48.86M 48.86M 48.86M
Diluted Earnings per Share		 $0.00 $0.15 $0.14 $0.16 $0.74 $0.34 $0.01 $0.01 ($0.16) ($0.63) $0.09
Weighted Average Diluted Shares Outstanding		 48.83M 48.83M 48.83M 48.84M 48.85M 48.84M 48.85M 48.86M 48.86M 48.86M 48.86M
Weighted Average Basic & Diluted Shares Outstanding		 48.83M 48.83M 48.83M 48.85M 48.85M 48.85M 48.85M 48.86M 48.86M 48.86M 48.86M
Cash Dividends to Common per Share		 $0.07 - $0.08 $0.08 $0.51 - $0.09 $0.09 $0.30 - $0.10

Annual Cash Flow Statements for NL Industries

This table details how cash moves in and out of NL Industries' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 23 -2.74 4.70 18 37 7.40 9.97 -78 44 43 -70
Net Cash From Operating Activities		 28 28 19 17 27 19 18 27 37 26 -36
Net Cash From Continuing Operating Activities		 28 28 19 17 27 19 18 27 37 26 -36
Net Income / (Loss) Continuing Operations		 -23 17 118 -39 28 16 53 36 0.58 69 -35
Consolidated Net Income / (Loss)		 -23 17 118 -39 28 16 53 36 0.58 69 -35
Depreciation Expense		 3.61 3.77 3.73 3.48 3.69 3.83 3.84 3.98 3.97 3.69 3.65
Non-Cash Adjustments To Reconcile Net Income		 73 12 -92 7.00 -12 14 -25 3.15 51 -41 19
Changes in Operating Assets and Liabilities, net		 -26 -4.34 -11 46 7.74 -15 -15 -17 -19 -6.53 -23
Net Cash From Investing Activities		 -4.30 -31 -14 1.31 9.92 -3.14 6.71 -68 22 59 -2.44
Net Cash From Continuing Investing Activities		 -4.30 -31 -14 1.31 9.92 -3.14 6.71 -68 22 59 -2.44
Purchase of Property, Plant & Equipment		 -4.30 -3.21 -2.81 -3.12 -3.17 -1.74 -4.09 -3.70 -1.13 -1.43 -3.75
Purchase of Investments		 -0.25 - - - - 0.00 0.00 -70 -61 0.00 0.00
Sale of Property, Plant & Equipment		 - - - 0.00 4.64 - - 0.00 0.00 5.00 0.00
Sale and/or Maturity of Investments		 0.26 - - - - - 0.00 0.00 82 54 0.00
Other Investing Activities, net		 - -27 -11 4.43 6.03 -1.40 11 5.78 2.60 1.30 1.31
Net Cash From Financing Activities		 -0.33 0.17 0.00 -0.34 -0.47 -8.48 -14 -37 -15 -42 -31
Net Cash From Continuing Financing Activities		 -0.33 0.17 0.00 -0.34 -0.47 -8.48 -14 -37 -15 -42 -31
Payment of Dividends		 -0.33 -0.33 - -0.34 -0.47 -8.48 -13 -35 -15 -42 -31
Cash Interest Paid		 - 0.00 0.03 0.03 0.04 0.03 0.03 0.03 0.05 0.05 0.53
Cash Income Taxes Paid		 0.61 0.07 3.11 -1.72 -0.12 0.05 0.00 1.14 -0.30 0.13 0.10

Quarterly Cash Flow Statements for NL Industries

This table details how cash moves in and out of NL Industries' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 7.44 47 27 29 -21 7.97 -53 1.48 -8.94 -9.52 -8.70
Net Cash From Operating Activities		 -5.46 22 6.74 16 -5.69 8.98 -47 7.29 7.94 -4.15 -3.54
Net Cash From Continuing Operating Activities		 -5.46 22 6.74 16 -5.69 8.98 -47 7.29 7.94 -4.15 -3.54
Net Income / (Loss) Continuing Operations		 0.67 8.44 7.32 8.45 36 17 1.32 1.05 -7.37 -30 5.09
Consolidated Net Income / (Loss)		 0.67 8.44 7.32 8.45 36 17 1.32 1.05 -7.37 -30 5.09
Depreciation Expense		 0.99 0.98 0.93 0.92 0.92 0.93 0.95 0.92 0.90 0.89 0.87
Non-Cash Adjustments To Reconcile Net Income		 11 5.69 1.64 0.73 -39 -4.17 -51 5.87 14 50 0.49
Changes in Operating Assets and Liabilities, net		 -18 6.43 -3.14 5.44 -3.93 -4.89 1.59 -0.56 0.72 -25 -10.00
Net Cash From Investing Activities		 17 29 24 18 13 3.36 -0.81 -0.94 -0.18 -0.50 0.20
Net Cash From Continuing Investing Activities		 17 29 24 18 13 3.36 -0.83 -0.94 -0.18 -0.50 0.20
Purchase of Property, Plant & Equipment		 -0.09 -0.57 -0.31 -0.43 -0.46 -0.24 -0.82 -1.34 -0.98 -0.60 -0.40
Other Investing Activities, net		 0.20 1.40 0.80 0.60 1.30 -1.40 -0.01 0.40 0.80 0.10 0.60
Net Cash From Financing Activities		 -3.81 -3.81 -4.37 -4.38 -29 -4.38 -4.86 -4.87 -17 -4.87 -5.36
Net Cash From Continuing Financing Activities		 -3.81 -3.81 -4.37 -4.38 -29 -4.38 -4.86 -4.87 -17 -4.87 -5.36
Payment of Dividends		 -3.81 -3.81 -4.37 -4.38 -29 -4.38 -4.86 -4.87 -17 -4.87 -5.36
Cash Interest Paid		 0.01 0.01 0.01 0.01 0.01 0.01 0.50 0.01 0.01 0.01 0.01

Annual Balance Sheets for NL Industries

This table presents NL Industries' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 349 385 552 547 557 548 596 610 577 578 464
Total Current Assets		 125 123 131 167 165 171 194 194 218 238 160
Cash & Equivalents		 96 93 98 116 130 137 147 69 112 163 111
Restricted Cash		 3.25 3.79 3.37 3.73 2.70 2.70 2.77 2.86 2.92 21 3.12
Accounts Receivable		 8.98 11 12 13 13 11 16 19 18 24 14
Inventories, net		 15 15 15 17 18 18 26 31 31 28 30
Prepaid Expenses		 0.98 0.99 1.16 1.32 1.40 1.64 2.63 2.28 2.24 2.15 1.95
Plant, Property, & Equipment, net		 34 34 33 32 31 29 29 29 26 24 24
Plant, Property & Equipment, gross		 92 95 97 96 97 97 101 103 104 105 108
Accumulated Depreciation		 58 62 64 64 66 68 72 75 78 81 84
Total Noncurrent Assets		 190 228 388 349 362 348 373 387 333 316 281
Long-Term Investments		 160 170 318 283 275 261 299 319 266 278 245
Noncurrent Note & Lease Receivables		 - - - - - - - 13 11 9.30 8.00
Goodwill		 27 27 27 27 27 27 27 27 27 27 27
Other Noncurrent Operating Assets		 3.33 31 43 37 34 35 21 2.52 2.06 1.03 0.93
Total Liabilities & Shareholders' Equity		 349 385 552 547 557 548 596 610 577 578 464
Total Liabilities		 184 191 199 244 230 213 211 207 185 162 87
Total Current Liabilities		 24 31 20 81 30 28 31 32 30 91 21
Accounts Payable		 4.56 5.03 4.12 4.83 3.44 2.65 3.41 3.54 3.15 3.76 2.70
Accrued Expenses		 19 24 15 16 14 12 15 16 15 70 17
Other Current Liabilities		 0.22 1.72 0.43 61 13 13 13 12 12 17 0.79
Total Noncurrent Liabilities		 160 160 179 162 200 185 181 175 154 71 67
Long-Term Debt		 - - - - - - - 0.50 0.50 0.50 0.50
Asset Retirement Reserve & Litigation Obligation		 104 103 107 110 152 141 129 117 106 11 11
Noncurrent Deferred & Payable Income Tax Liabilities		 25 27 49 31 34 34 44 50 42 53 54
Other Noncurrent Operating Liabilities		 14 14 10 9.92 6.26 3.78 3.49 4.28 5.07 6.26 1.28
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 165 194 353 304 327 335 385 403 392 416 377
Total Preferred & Common Equity		 150 178 335 284 305 312 362 382 370 397 359
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 0.00
Total Common Equity		 150 178 335 284 305 312 362 382 370 397 359
Common Stock		 307 307 307 307 305 305 306 305 305 305 305
Retained Earnings		 89 104 220 225 251 258 297 300 284 315 249
Accumulated Other Comprehensive Income / (Loss)		 -245 -233 -192 -248 -252 -251 -241 -223 -220 -223 -196
Noncontrolling Interest		 15 16 18 19 23 23 23 21 22 19 18

Quarterly Balance Sheets for NL Industries

This table presents NL Industries' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 583 594 586 570 569 580 586 520 524 500 461
Total Current Assets		 186 199 208 206 218 227 226 180 184 174 156
Cash & Equivalents		 128 48 59 66 138 167 146 110 111 102 102
Restricted Cash		 2.83 2.87 2.91 2.92 2.92 2.90 30 21 21 21 3.13
Accounts Receivable		 19 20 16 21 18 16 15 18 17 18 19
Inventories, net		 33 30 34 34 28 27 28 29 33 31 30
Prepaid Expenses		 2.68 2.10 1.77 2.19 1.95 1.88 7.29 1.78 1.67 2.02 1.77
Plant, Property, & Equipment, net		 29 28 27 26 25 25 24 24 24 24 23
Plant, Property & Equipment, gross		 103 103 104 104 104 104 105 105 106 107 108
Accumulated Depreciation		 74 75 76 77 79 79 80 82 82 83 85
Total Noncurrent Assets		 368 367 351 338 325 328 336 317 316 302 282
Long-Term Investments		 298 299 284 271 258 259 300 279 279 265 245
Noncurrent Note & Lease Receivables		 - - - - 9.80 9.20 7.90 9.30 8.90 8.10 7.40
Goodwill		 27 27 27 27 27 27 27 27 27 27 27
Other Noncurrent Operating Assets		 17 15 14 14 3.50 5.72 0.70 0.98 0.93 0.89 1.95
Total Liabilities & Shareholders' Equity		 583 594 586 570 569 580 586 520 524 500 461
Total Liabilities		 200 203 198 185 179 185 181 103 107 107 84
Total Current Liabilities		 32 27 29 30 25 30 34 31 34 35 15
Accounts Payable		 5.17 3.93 5.22 3.99 3.07 3.79 3.29 3.97 4.12 3.25 3.24
Accrued Expenses		 14 10 12 14 8.98 13 13 9.44 13 14 10
Other Current Liabilities		 12 13 13 13 13 13 17 18 17 18 1.12
Total Noncurrent Liabilities		 168 176 168 155 154 155 147 72 73 72 69
Long-Term Debt		 - - - - 0.50 0.50 0.50 0.50 0.50 0.50 0.50
Asset Retirement Reserve & Litigation Obligation		 117 117 117 105 106 106 89 11 11 10 11
Noncurrent Deferred & Payable Income Tax Liabilities		 45 51 44 43 41 43 52 59 60 59 55
Other Noncurrent Operating Liabilities		 3.20 4.21 4.18 3.98 5.05 5.07 5.08 1.36 1.27 1.28 2.13
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 384 391 389 386 390 395 405 417 417 393 378
Total Preferred & Common Equity		 363 370 368 364 368 373 386 398 398 375 359
Preferred Stock		 - - - - 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 363 370 368 364 368 373 386 398 398 375 359
Common Stock		 305 304 305 305 305 305 305 305 305 305 305
Retained Earnings		 310 290 284 280 287 291 302 311 307 285 249
Accumulated Other Comprehensive Income / (Loss)		 -252 -224 -221 -221 -224 -223 -222 -219 -215 -215 -195
Noncontrolling Interest		 20 21 21 21 22 22 19 19 19 18 18

Annual Metrics And Ratios for NL Industries

This table displays calculated financial ratios and metrics derived from NL Industries' official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 48,691,884.00 48,705,884.00 48,714,884.00 48,727,484.00 48,755,734.00 48,788,984.00 48,802,734.00 - - - 48,862,734.00
DEI Adjusted Shares Outstanding		 48,691,884.00 48,705,884.00 48,714,884.00 48,727,484.00 48,755,734.00 48,788,984.00 48,802,734.00 - - - 48,862,734.00
DEI Earnings Per Adjusted Shares Outstanding		 -0.49 0.31 2.38 -0.84 0.53 0.30 1.05 - - - -0.77
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 4.96% -0.07% 2.86% 5.52% 5.10% -7.81% 22.94% 18.28% -3.17% -9.51% 8.46%
EBITDA Growth		 -39.89% -28.07% 64.85% -2,670.01% 99.86% -1,919.14% 1,013.91% -71.60% -56.80% 1,268.37% -139.99%
EBIT Growth		 -90.50% -462.73% 188.20% -14,139.45% 96.84% -84.51% 467.08% -82.68% -106.78% 15,291.83% -151.02%
NOPAT Growth		 -92.27% -557.19% 308.04% -2,479.97% 96.29% 277.19% 229.41% 38.64% -22.47% 218.35% -76.27%
Net Income Growth		 -176.67% 173.49% 605.84% -133.11% 171.86% -42.56% 231.37% -31.68% -98.40% 11,800.52% -151.07%
EPS Growth		 -183.05% 163.27% 667.74% -135.29% 163.10% -43.40% 250.00% -34.29% -107.25% 2,860.00% -155.80%
Operating Cash Flow Growth		 17.34% 0.23% -32.71% -8.38% 60.66% -30.66% -7.43% 52.94% 37.40% -30.89% -242.34%
Free Cash Flow Firm Growth		 9.61% 61.88% 81.99% -106.63% 141.77% -452.09% 165.11% -17.91% -174.88% 288.92% -705.41%
Invested Capital Growth		 39.07% 23.46% 8.20% -51.11% -5.14% 14.60% 1.11% 6.77% 17.99% 32.28% 141.30%
Revenue Q/Q Growth		 0.87% 0.60% -1.10% 1.98% 1.84% 0.32% 2.99% 3.67% 2.02% -3.15% -0.45%
EBITDA Q/Q Growth		 -36.17% 746.06% -27.22% -4.71% 98.04% -0.80% 21.35% -52.58% 657.64% 66.40% -186.82%
EBIT Q/Q Growth		 -89.04% 76.53% -66.67% -4.50% 67.55% -0.50% 25.16% -67.68% 91.32% 75.99% -222.13%
NOPAT Q/Q Growth		 -89.16% 70.75% -7.51% -1.17% 68.96% -57.94% 14.66% 10.77% 20.36% 310.69% -78.52%
Net Income Q/Q Growth		 -94.22% 1,151.35% 50.85% -615.57% 15.02% -11.74% 25.16% -36.31% 104.37% 14.32% -391.67%
EPS Q/Q Growth		 -88.46% 0.00% 51.59% -940.00% 15.22% -11.76% 26.51% -53.69% 92.75% 15.97% -485.00%
Operating Cash Flow Q/Q Growth		 45.46% 1.57% -25.40% -33.61% 125.26% -0.85% -12.54% 34.13% 24.74% -32.93% -56.42%
Free Cash Flow Firm Q/Q Growth		 14.07% -189.93% -107.00% 37.99% 117.55% -60.86% 28.05% 1,635.96% -101.37% -47.24% -42.88%
Invested Capital Q/Q Growth		 0.38% 19.51% 22.73% 12.08% -6.77% -6.85% -7.73% -17.43% -13.52% 34.47% 296.01%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 30.64% 32.29% 31.08% 32.37% 31.36% 28.68% 30.36% 29.30% 30.52% 28.34% 30.44%
EBITDA Margin		 3.56% 2.56% 4.11% -100.02% -0.13% -2.86% 21.23% 5.10% 2.27% 34.38% -12.68%
Operating Margin		 0.25% -0.66% 1.52% -51.32% -1.30% 2.06% 7.45% 8.24% 8.76% 25.95% 6.74%
EBIT Margin		 0.25% -0.90% 0.77% -102.96% -3.10% -6.20% 18.50% 2.71% -0.19% 31.85% -14.98%
Profit (Net Income) Margin		 -20.84% 15.33% 105.17% -33.00% 22.56% 14.06% 37.89% 21.89% 0.36% 47.46% -22.35%
Tax Burden Percent		 44.26% 119.96% 105.02% 71.75% 97.98% 118.51% 87.71% 92.90% -9.07% 83.13% 68.78%
Interest Burden Percent		 -18,939.85% -1,415.67% 12,940.25% 44.67% -743.80% -191.43% 233.50% 869.70% 2,097.71% 179.23% 216.82%
Effective Tax Rate		 0.00% -19.96% -5.02% 0.00% 2.02% -18.51% 12.29% 7.10% 0.00% 16.87% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 -10.90% 9.29% 43.05% -11.88% 8.89% 4.86% 14.82% 9.26% 0.15% 17.15% -8.92%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -302.86%
Operating Return on Assets (OROA)		 0.06% -0.27% 0.19% -22.15% -0.70% -1.28% 4.55% 0.75% -0.05% 8.05% -4.55%
Return on Assets (ROA)		 -5.37% 4.55% 25.16% -7.10% 5.08% 2.91% 9.33% 6.05% 0.10% 11.99% -6.79%
Return on Common Equity (ROCE)		 -10.12% 8.47% 40.37% -11.21% 8.30% 4.52% 13.87% 8.75% 0.14% 16.28% -8.51%
Return on Equity Simple (ROE_SIMPLE)		 -15.15% 9.38% 35.14% -13.73% 9.21% 5.16% 14.72% 9.54% 0.16% 17.45% 0.00%
Net Operating Profit after Tax (NOPAT)		 0.19 -0.86 1.78 -42 -1.58 2.79 9.20 13 9.89 31 7.47
NOPAT Margin		 0.17% -0.79% 1.59% -35.92% -1.27% 2.44% 6.53% 7.66% 6.13% 21.57% 4.72%
Net Nonoperating Expense Percent (NNEP)		 -6.88% 6.67% 33.83% 0.84% 7.08% 3.10% 9.82% 4.94% -1.97% 8.20% -10.45%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - 3.16% 2.52% 7.56% 1.98%
Cost of Revenue to Revenue		 69.36% 67.71% 68.92% 67.63% 68.64% 71.32% 69.64% 70.70% 69.48% 71.66% 69.56%
SG&A Expenses to Revenue		 33.86% 33.36% 30.05% 32.89% 27.28% 26.62% 22.91% 14.03% 14.75% 16.68% 16.16%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 30.40% 32.94% 29.57% 83.69% 32.66% 26.62% 22.91% 21.05% 21.76% 2.39% 23.69%
Earnings before Interest and Taxes (EBIT)		 0.27 -0.98 0.87 -122 -3.85 -7.10 26 4.51 -0.31 46 -24
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 3.88 2.79 4.60 -118 -0.16 -3.27 30 8.49 3.67 50 -20
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.74 1.68 1.56 0.45 0.47 0.59 0.81 0.74 0.66 0.96 0.73
Price to Tangible Book Value (P/TBV)		 0.91 1.98 1.69 0.50 0.52 0.64 0.87 0.80 0.71 1.03 0.79
Price to Revenue (P/Rev)		 1.02 2.74 4.66 1.09 1.15 1.60 2.08 1.70 1.52 2.60 1.66
Price to Earnings (P/E)		 0.00 19.47 4.50 0.00 5.55 12.45 5.73 8.37 0.00 5.65 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 4.27% 3.99% 10.86% 5.58% 9.65% 12.08%
Earnings Yield		 0.00% 5.14% 22.25% 0.00% 18.03% 8.03% 17.46% 11.95% 0.00% 17.71% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 0.44 1.07 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 17.11 26.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 138.10 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 67.10 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 1.72 6.42 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 -1.60 -1.46 -1.25 -1.25 -1.33 -1.29 -1.25 -1.22 -1.19 -1.14 -1.03
Leverage Ratio		 2.03 2.04 1.71 1.67 1.75 1.67 1.59 1.53 1.49 1.43 1.32
Compound Leverage Factor		 -384.30 -28.91 221.43 0.75 -13.03 -3.19 3.71 13.32 31.33 2.56 2.85
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.12% 0.13% 0.12% 0.13%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.12% 0.13% 0.12% 0.13%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 9.26% 8.42% 5.03% 6.41% 6.94% 7.00% 5.84% 5.11% 5.60% 4.56% 4.78%
Common Equity to Total Capital		 90.74% 91.58% 94.97% 93.60% 93.06% 93.00% 94.16% 94.77% 94.28% 95.32% 95.09%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.06 0.14 0.01 -0.02
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -54.18 -118.04 -9.20 17.83
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.06 0.14 0.01 -0.02
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.04 0.05 0.02 0.07
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -36.06 -43.77 -14.66 -47.88
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.04 0.05 0.02 0.07
Altman Z-Score		 1.38 1.88 2.59 0.56 1.49 1.65 2.24 2.13 2.15 2.99 3.09
Noncontrolling Interest Sharing Ratio		 7.13% 8.80% 6.23% 5.67% 6.68% 6.97% 6.38% 5.47% 5.36% 5.07% 4.67%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 5.20 4.02 6.67 2.05 5.52 6.22 6.33 6.05 7.17 2.61 7.77
Quick Ratio		 4.39 3.37 5.66 1.59 4.77 5.40 5.31 4.92 5.99 2.05 6.05
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -60 -23 -4.14 -8.56 3.58 -13 8.20 6.73 -5.04 9.52 -58
Operating Cash Flow to CapEx		 642.10% 863.97% 663.27% 547.66% 0.00% 1,093.28% 430.12% 728.85% 3,274.60% 0.00% -971.52%
Free Cash Flow to Firm to Interest Expense		 0.00 -5,752.42 -138.12 -231.41 5.25 -9.33 7.18 7.15 -6.76 17.96 -75.15
Operating Cash Flow to Interest Expense		 0.00 6,924.75 621.27 461.51 40.29 14.09 15.42 28.62 49.60 48.25 -47.46
Operating Cash Flow Less CapEx to Interest Expense		 0.00 6,123.25 527.60 377.24 42.44 12.80 11.83 24.69 48.09 54.98 -52.35
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.26 0.30 0.24 0.22 0.22 0.21 0.25 0.28 0.27 0.25 0.30
Accounts Receivable Turnover		 11.96 11.14 9.73 9.21 9.65 9.56 10.41 9.76 8.90 7.04 8.43
Inventory Turnover		 4.73 4.91 5.09 4.92 4.81 4.45 4.46 4.14 3.62 3.54 3.75
Fixed Asset Turnover		 3.22 3.22 3.39 3.66 3.94 3.82 4.84 5.76 5.91 5.85 6.63
Accounts Payable Turnover		 14.17 15.39 16.89 17.87 20.63 26.85 32.39 33.91 33.53 30.29 34.11
Days Sales Outstanding (DSO)		 30.53 32.78 37.50 39.63 37.81 38.19 35.08 37.38 41.00 51.86 43.28
Days Inventory Outstanding (DIO)		 77.16 74.41 71.75 74.15 75.86 81.96 81.84 88.23 100.97 103.10 97.42
Days Payable Outstanding (DPO)		 25.76 23.71 21.61 20.42 17.70 13.59 11.27 10.76 10.89 12.05 10.70
Cash Conversion Cycle (CCC)		 81.93 83.48 87.65 93.36 95.98 106.55 105.65 114.85 131.08 142.90 130.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -94 -72 -66 -100 -105 -90 -89 -83 -68 -46 19
Invested Capital Turnover		 -0.87 -1.31 -1.62 -1.42 -1.21 -1.17 -1.57 -1.94 -2.14 -2.56 -11.70
Increase / (Decrease) in Invested Capital		 61 22 5.93 -34 -5.15 15 1.00 6.03 15 22 65
Enterprise Value (EV)		 -133 48 120 -255 -242 -194 -133 -156 -166 -63 -77
Market Capitalization		 111 298 522 129 143 183 293 283 245 380 263
Book Value per Share		 $3.08 $3.65 $6.88 $5.83 $6.25 $6.39 $7.43 $7.83 $7.57 $8.13 $7.34
Tangible Book Value per Share		 $2.52 $3.10 $6.33 $5.27 $5.69 $5.84 $6.87 $7.27 $7.02 $7.57 $6.79
Total Capital		 165 194 353 304 327 335 385 403 392 416 377
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.50 0.50 0.50 0.50
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.50 0.50 0.50 0.50
Net Debt		 -260 -267 -420 -403 -408 -400 -449 -460 -433 -461 -358
Capital Expenditures (CapEx)		 4.30 3.21 2.81 3.12 -1.47 1.74 4.09 3.70 1.13 -3.57 3.75
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 1.05 -4.20 9.40 -35 2.45 3.92 13 20 20 -37 26
Debt-free Net Working Capital (DFNWC)		 101 93 111 85 135 144 163 162 188 147 139
Net Working Capital (NWC)		 101 93 111 85 135 144 163 162 188 147 139
Net Nonoperating Expense (NNE)		 23 -18 -116 -3.45 -30 -13 -44 -24 9.31 -38 43
Net Nonoperating Obligations (NNO)		 -260 -267 -419 -404 -433 -425 -474 -486 -460 -462 -358
Total Depreciation and Amortization (D&A)		 3.61 3.77 3.73 3.48 3.69 3.83 3.84 3.98 3.97 3.69 3.65
Debt-free, Cash-free Net Working Capital to Revenue		 0.96% -3.85% 8.39% -29.32% 1.97% 3.43% 9.43% 12.02% 12.54% -25.22% 16.16%
Debt-free Net Working Capital to Revenue		 92.44% 85.16% 99.15% 72.17% 108.56% 125.42% 115.79% 97.21% 116.45% 100.65% 88.02%
Net Working Capital to Revenue		 92.44% 85.16% 99.15% 72.17% 108.56% 125.42% 115.79% 97.21% 116.45% 100.65% 88.02%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.49) $0.31 $2.38 ($0.84) $0.53 $0.30 $1.05 $0.69 ($0.05) $1.38 ($0.77)
Adjusted Weighted Average Basic Shares Outstanding		 48.69M 48.71M 48.71M 48.73M 48.76M 48.79M 48.80M 48.81M 48.83M 48.84M 48.86M
Adjusted Diluted Earnings per Share		 ($0.49) $0.31 $2.38 ($0.84) $0.53 $0.30 $1.05 $0.69 ($0.05) $1.38 ($0.77)
Adjusted Weighted Average Diluted Shares Outstanding		 48.69M 48.71M 48.71M 48.73M 48.76M 48.79M 48.80M 48.81M 48.83M 48.84M 48.86M
Adjusted Basic & Diluted Earnings per Share		 ($0.49) $0.31 $2.38 ($0.84) $0.53 $0.30 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 48.69M 48.70M 48.71M 48.73M 48.75M 48.78M 48.80M 48.82M 48.83M 48.85M 48.86M
Normalized Net Operating Profit after Tax (NOPAT)		 -2.37 -0.81 0.93 0.03 12 1.65 9.20 13 9.57 30 7.47
Normalized NOPAT Margin		 -2.18% -0.74% 0.83% 0.02% 9.87% 1.44% 6.53% 7.61% 5.93% 20.79% 4.72%
Pre Tax Income Margin		 -47.09% 12.78% 100.14% -46.00% 23.03% 11.86% 43.20% 23.56% -3.98% 57.09% -32.49%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 -245.75 28.90 -3,289.78 -5.65 -5.26 22.82 4.79 -0.41 87.71 -30.92
NOPAT to Interest Expense		 0.00 -214.42 59.48 -1,147.74 -2.31 2.07 8.06 13.56 13.26 59.41 9.74
EBIT Less CapEx to Interest Expense		 0.00 -1,047.25 -64.77 -3,374.05 -3.49 -6.55 19.23 0.87 -1.92 94.44 -35.81
NOPAT Less CapEx to Interest Expense		 0.00 -1,015.92 -34.19 -1,232.01 -0.16 0.78 4.47 9.63 11.74 66.14 4.86
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 -1.45% 1.99% 0.00% -0.86% 1.68% 52.67% 24.43% 96.16% 2,616.32% 60.11% -88.48%
Augmented Payout Ratio		 -1.45% 1.99% 0.00% -0.86% 1.68% 52.67% 26.89% 96.16% 2,616.32% 60.11% -88.48%

Quarterly Metrics And Ratios for NL Industries

This table displays calculated financial ratios and metrics derived from NL Industries' official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - 48,847,734.00 48,847,734.00 48,862,734.00 48,862,734.00 48,862,734.00
DEI Adjusted Shares Outstanding		 - - - - - - 48,847,734.00 48,847,734.00 48,862,734.00 48,862,734.00 48,862,734.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - 0.01 0.01 -0.16 -0.63 0.09
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -5.85% 7.99% -7.73% -1.99% -16.57% -11.00% 6.06% 12.48% 18.66% -1.87% 0.74%
EBITDA Growth		 123.68% 400.38% 782.42% 175.92% 344.80% 838.48% -209.13% 58.33% -90.56% -192.66% 261.68%
EBIT Growth		 117.90% 177.96% 307.71% 132.44% 436.44% 1,422.54% -266.30% 100.96% -94.54% -200.80% 219.56%
NOPAT Growth		 14.46% 188.14% -59.34% -31.09% -35.96% 475.12% 168.17% 326.03% -21.48% -92.89% -0.55%
Net Income Growth		 107.99% 254.82% 223.17% 426.24% 5,345.21% 102.74% -81.93% -87.53% -120.26% -277.46% 285.33%
EPS Growth		 100.00% 130.61% 200.00% 366.67% 0.00% 126.67% -92.86% -93.75% -121.62% -285.29% 800.00%
Operating Cash Flow Growth		 -512.33% 51.69% -7.34% 13.80% -4.08% -58.30% -803.96% -53.09% 239.58% -146.21% 92.54%
Free Cash Flow Firm Growth		 16.07% -131.79% -2,250.34% 51.95% 247.70% 163.34% -402.99% -1,557.80% -713.81% -1,095.33% 75.22%
Invested Capital Growth		 15.17% 17.99% 18.69% 6.76% -17.31% 32.28% 111.32% 108.61% 106.83% 141.30% 276.22%
Revenue Q/Q Growth		 10.21% 6.96% -12.03% -5.49% -6.19% 14.11% 4.83% 0.23% -1.03% -5.64% 7.62%
EBITDA Q/Q Growth		 266.97% -50.01% 82.04% -50.03% 878.27% 5.47% -121.17% 172.49% -41.67% -1,135.19% 136.94%
EBIT Q/Q Growth		 198.19% -62.77% 142.45% -63.40% 1,523.88% 5.67% -126.48% 144.23% -55.88% -2,050.81% 131.41%
NOPAT Q/Q Growth		 159.04% 91.00% -75.73% -42.63% 140.73% 1,615.38% -88.68% -8.85% -55.63% 55.32% 58.32%
Net Income Q/Q Growth		 125.78% 1,164.07% -13.37% 15.56% 330.31% -52.94% -92.28% -20.27% -799.05% -312.31% 116.77%
EPS Q/Q Growth		 100.00% 0.00% -6.67% 14.29% 362.50% -54.05% -97.06% 0.00% -1,700.00% -293.75% 114.29%
Operating Cash Flow Q/Q Growth		 -140.01% 494.31% -68.69% 130.34% -136.60% 257.98% -628.62% 115.35% 8.89% -152.30% 14.65%
Free Cash Flow Firm Q/Q Growth		 14.36% -22.90% -37.64% 66.84% 363.28% -47.29% -1,192.97% -9.31% 2.52% 14.53% 72.79%
Invested Capital Q/Q Growth		 22.83% -13.52% 4.29% -11.21% 2.90% 34.47% 115.99% -15.38% -22.93% 296.01% 45.67%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 31.27% 31.56% 25.46% 31.11% 28.12% 28.80% 30.20% 31.93% 27.61% 32.09% 32.67%
EBITDA Margin		 11.84% 5.53% 11.45% 6.05% 63.11% 58.34% -11.78% 8.52% 5.02% -55.09% 18.91%
Operating Margin		 9.12% 11.19% 3.57% 2.20% 6.05% 87.71% 7.82% 6.94% 4.63% 7.63% 10.12%
EBIT Margin		 9.39% 3.27% 9.01% 3.49% 60.39% 55.92% -14.13% 6.23% 2.78% -57.44% 16.77%
Profit (Net Income) Margin		 1.66% 19.56% 19.26% 23.55% 108.04% 44.56% 3.28% 2.61% -18.44% -80.59% 12.56%
Tax Burden Percent		 -224.92% 101.89% 88.10% 86.65% 81.04% 84.01% 101.77% 104.25% 89.61% 66.75% 77.58%
Interest Burden Percent		 -7.84% 587.31% 242.71% 779.15% 220.76% 94.86% -22.83% 40.18% -740.72% 210.18% 96.53%
Effective Tax Rate		 0.00% -1.89% 11.90% 13.35% 18.96% 15.99% -1.77% -4.25% 0.00% 0.00% 22.42%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 70.98%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 70.48%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -67.37%
Return on Equity (ROE)		 -3.46% 0.15% 3.54% 6.35% 15.33% 17.15% 15.68% 13.76% 3.04% -8.92% 3.62%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -537.47% -708.74% -839.39% -302.86% -69.59%
Operating Return on Assets (OROA)		 2.57% 0.89% 2.45% 0.94% 15.74% 14.13% -3.85% 1.72% 0.81% -17.44% 5.42%
Return on Assets (ROA)		 0.45% 5.32% 5.24% 6.36% 28.16% 11.26% 0.89% 0.72% -5.40% -24.47% 4.06%
Return on Common Equity (ROCE)		 -3.27% 0.14% 3.35% 6.00% 14.54% 16.28% 14.88% 13.05% 2.90% -8.51% 3.45%
Return on Equity Simple (ROE_SIMPLE)		 -3.66% 0.00% 3.76% 6.67% 15.69% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 2.58 4.92 1.19 0.69 1.65 28 3.20 2.92 1.30 2.01 3.19
NOPAT Margin		 6.39% 11.40% 3.15% 1.91% 4.90% 73.68% 7.96% 7.23% 3.24% 5.34% 7.85%
Net Nonoperating Expense Percent (NNEP)		 -0.42% 0.75% 1.32% 1.66% 7.54% -2.43% -0.44% -0.42% -2.01% -7.90% 0.50%
Return On Investment Capital (ROIC_SIMPLE)		 - 1.25% - - - 6.80% 0.77% 0.70% 0.33% 0.53% 0.84%
Cost of Revenue to Revenue		 68.73% 68.44% 74.54% 68.89% 71.88% 71.20% 69.80% 68.07% 72.39% 67.91% 67.33%
SG&A Expenses to Revenue		 22.90% -6.53% 21.89% 28.91% 25.34% -7.49% 15.63% 16.28% 15.69% 17.09% 15.29%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 22.15% 20.37% 21.89% 28.91% 22.08% -58.91% 22.39% 24.99% 22.97% 24.46% 22.54%
Earnings before Interest and Taxes (EBIT)		 3.79 1.41 3.42 1.25 20 21 -5.69 2.52 1.11 -22 6.80
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 4.78 2.39 4.35 2.17 21 22 -4.74 3.44 2.01 -21 7.67
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.57 0.66 0.90 0.74 0.94 0.96 0.88 0.79 0.80 0.73 0.79
Price to Tangible Book Value (P/TBV)		 0.61 0.71 0.97 0.80 1.01 1.03 0.95 0.84 0.86 0.79 0.86
Price to Revenue (P/Rev)		 1.31 1.52 2.10 1.76 2.41 2.60 2.37 2.05 1.89 1.66 1.80
Price to Earnings (P/E)		 0.00 0.00 29.54 12.46 6.23 5.65 5.76 5.84 31.00 0.00 0.00
Dividend Yield		 6.62% 5.58% 4.26% 5.30% 9.96% 9.65% 10.56% 12.03% 9.11% 12.08% 9.95%
Earnings Yield		 0.00% 0.00% 3.39% 8.03% 16.05% 17.71% 17.37% 17.14% 3.23% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 -1.17 -1.19 -1.19 -1.19 -1.16 -1.14 -1.07 -1.08 -1.08 -1.03 -0.96
Leverage Ratio		 1.50 1.49 1.49 1.49 1.46 1.43 1.35 1.36 1.36 1.32 1.24
Compound Leverage Factor		 -0.12 8.77 3.61 11.59 3.23 1.36 -0.31 0.55 -10.08 2.76 1.19
Debt to Total Capital		 0.00% 0.13% 0.13% 0.13% 0.12% 0.12% 0.12% 0.12% 0.13% 0.13% 0.13%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.13% 0.13% 0.13% 0.12% 0.12% 0.12% 0.12% 0.13% 0.13% 0.13%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 5.57% 5.60% 5.62% 5.59% 4.66% 4.56% 4.60% 4.65% 4.54% 4.78% 4.84%
Common Equity to Total Capital		 94.43% 94.28% 94.25% 94.28% 95.22% 95.32% 95.28% 95.23% 95.33% 95.09% 95.03%
Debt to EBITDA		 0.00 0.14 0.06 0.04 0.02 0.01 0.01 0.01 0.02 -0.02 -0.07
Net Debt to EBITDA		 0.00 -118.04 -49.49 -32.18 -15.74 -9.20 -9.95 -9.69 -16.79 17.83 45.73
Long-Term Debt to EBITDA		 0.00 0.14 0.06 0.04 0.02 0.01 0.01 0.01 0.02 -0.02 -0.07
Debt to NOPAT		 0.00 0.05 0.02 0.05 0.07 0.02 0.02 0.01 0.01 0.07 0.06
Net Debt to NOPAT		 0.00 -43.77 -17.55 -43.26 -61.92 -14.66 -12.44 -11.91 -11.16 -47.88 -42.97
Long-Term Debt to NOPAT		 0.00 0.05 0.02 0.05 0.07 0.02 0.02 0.01 0.01 0.07 0.06
Altman Z-Score		 2.03 2.16 2.53 2.29 2.69 2.85 3.47 3.23 3.14 3.10 3.56
Noncontrolling Interest Sharing Ratio		 5.44% 5.36% 5.50% 5.52% 5.11% 5.07% 5.10% 5.12% 4.61% 4.67% 4.72%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 6.87 7.17 8.87 7.69 6.72 2.61 5.81 5.41 4.96 7.77 10.66
Quick Ratio		 5.55 5.99 7.56 6.60 4.78 2.05 4.14 3.78 3.41 6.05 8.26
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -8.14 -10 -14 -4.57 12 6.34 -69 -76 -74 -63 -17
Operating Cash Flow to CapEx		 -6,351.16% 3,805.12% 2,211.15% 3,655.06% -1,225.22% 3,773.53% -5,775.55% 542.59% 807.22% -692.82% -876.73%
Free Cash Flow to Firm to Interest Expense		 -40.31 -68.55 -95.00 -30.87 81.82 70.44 -120.50 -841.53 -820.33 -5,258.29 -1,560.79
Operating Cash Flow to Interest Expense		 -27.04 147.51 46.51 104.96 -38.67 99.79 -82.57 80.97 88.17 -345.83 -322.00
Operating Cash Flow Less CapEx to Interest Expense		 -27.47 143.64 44.41 102.09 -41.83 97.14 -83.99 66.04 77.24 -395.75 -358.73
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.27 0.27 0.27 0.27 0.26 0.25 0.27 0.28 0.29 0.30 0.32
Accounts Receivable Turnover		 7.93 8.90 8.42 9.99 8.55 7.04 8.21 9.31 9.72 8.43 8.54
Inventory Turnover		 3.29 3.62 3.87 3.61 3.43 3.54 3.68 3.56 3.79 3.75 3.69
Fixed Asset Turnover		 5.72 5.91 5.96 6.07 5.97 5.85 6.08 6.28 6.59 6.63 6.75
Accounts Payable Turnover		 24.31 33.53 31.98 24.47 29.32 30.29 29.64 27.10 34.22 34.11 30.33
Days Sales Outstanding (DSO)		 46.06 41.00 43.37 36.55 42.70 51.86 44.45 39.20 37.56 43.28 42.72
Days Inventory Outstanding (DIO)		 110.83 100.97 94.21 101.14 106.47 103.10 99.13 102.66 96.19 97.42 98.88
Days Payable Outstanding (DPO)		 15.02 10.89 11.41 14.92 12.45 12.05 12.32 13.47 10.67 10.70 12.04
Cash Conversion Cycle (CCC)		 141.87 131.08 126.17 122.77 136.73 142.90 131.27 128.39 123.08 130.00 129.57
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -60 -68 -65 -72 -70 -46 7.37 6.24 4.81 19 28
Invested Capital Turnover		 -2.42 -2.14 -2.18 -2.10 -2.31 -2.56 -5.13 -4.61 -4.85 -11.70 9.04
Increase / (Decrease) in Invested Capital		 11 15 15 5.25 -10 22 72 79 75 65 20
Enterprise Value (EV)		 -192 -166 -74 -142 -93 -63 -38 -78 -70 -77 -47
Market Capitalization		 207 245 332 276 363 380 352 313 301 263 285
Book Value per Share		 $7.46 $7.57 $7.54 $7.64 $7.90 $8.13 $8.14 $8.14 $7.68 $7.34 $7.35
Tangible Book Value per Share		 $6.90 $7.02 $6.98 $7.08 $7.35 $7.57 $7.58 $7.58 $7.13 $6.79 $6.80
Total Capital		 386 392 391 396 405 416 417 418 394 377 378
Total Debt		 0.00 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50
Total Long-Term Debt		 0.00 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50
Net Debt		 -420 -433 -428 -440 -475 -461 -409 -410 -388 -358 -350
Capital Expenditures (CapEx)		 0.09 0.57 0.31 0.43 0.46 0.24 0.82 1.34 0.98 0.60 0.40
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 27 20 23 16 16 -37 18 18 16 26 36
Debt-free Net Working Capital (DFNWC)		 176 188 194 198 192 147 149 150 139 139 141
Net Working Capital (NWC)		 176 188 194 198 192 147 149 150 139 139 141
Net Nonoperating Expense (NNE)		 1.91 -3.52 -6.12 -7.77 -35 11 1.88 1.87 8.66 32 -1.91
Net Nonoperating Obligations (NNO)		 -446 -460 -455 -468 -475 -462 -409 -411 -388 -358 -350
Total Depreciation and Amortization (D&A)		 0.99 0.98 0.93 0.92 0.92 0.93 0.95 0.92 0.90 0.89 0.87
Debt-free, Cash-free Net Working Capital to Revenue		 17.16% 12.54% 14.46% 9.86% 10.83% -25.22% 12.23% 11.50% 10.02% 16.16% 22.83%
Debt-free Net Working Capital to Revenue		 111.38% 116.45% 122.51% 125.68% 127.42% 100.65% 100.30% 98.03% 87.50% 88.02% 89.06%
Net Working Capital to Revenue		 111.38% 116.45% 122.51% 125.68% 127.42% 100.65% 100.30% 98.03% 87.50% 88.02% 89.06%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.15 $0.14 $0.16 $0.74 $0.34 $0.01 $0.01 ($0.16) ($0.63) $0.09
Adjusted Weighted Average Basic Shares Outstanding		 48.83M 48.83M 48.83M 48.84M 48.85M 48.84M 48.85M 48.86M 48.86M 48.86M 48.86M
Adjusted Diluted Earnings per Share		 $0.00 $0.15 $0.14 $0.16 $0.74 $0.34 $0.01 $0.01 ($0.16) ($0.63) $0.09
Adjusted Weighted Average Diluted Shares Outstanding		 48.83M 48.83M 48.83M 48.84M 48.85M 48.84M 48.85M 48.86M 48.86M 48.86M 48.86M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 48.83M 48.83M 48.83M 48.85M 48.85M 48.85M 48.85M 48.86M 48.86M 48.86M 48.86M
Normalized Net Operating Profit after Tax (NOPAT)		 2.36 3.38 1.19 0.69 0.76 28 2.20 1.96 1.30 2.01 3.19
Normalized NOPAT Margin		 5.86% 7.83% 3.15% 1.91% 2.25% 73.68% 5.47% 4.86% 3.24% 5.34% 7.85%
Pre Tax Income Margin		 -0.74% 19.20% 21.87% 27.18% 133.31% 53.05% 3.23% 2.50% -20.58% -120.73% 16.18%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 18.76 9.66 23.59 8.46 138.31 238.70 -9.89 27.96 12.33 -1,804.50 618.36
NOPAT to Interest Expense		 12.76 33.71 8.24 4.63 11.22 314.50 5.57 32.45 14.40 167.71 289.66
EBIT Less CapEx to Interest Expense		 18.34 5.79 21.49 5.59 135.15 236.06 -11.32 13.03 1.41 -1,854.42 581.64
NOPAT Less CapEx to Interest Expense		 12.33 29.83 6.14 1.76 8.07 311.85 4.14 17.52 3.47 117.79 252.93
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 -114.34% 2,616.32% 114.16% 65.78% 67.78% 60.11% 66.58% 76.28% 254.03% -88.48% -100.60%
Augmented Payout Ratio		 -114.34% 2,616.32% 114.16% 65.78% 67.78% 60.11% 66.58% 76.28% 254.03% -88.48% -100.60%

Financials Breakdown Chart

Key Financial Trends

NL Industries’ latest quarter showed a sharp operational rebound from the prior quarter, but the longer trend still looks uneven. In Q1 2026, revenue rose modestly year over year, profitability improved dramatically versus the very weak Q4 2025, and the company remained well-capitalized with a large cash and investment base. That said, operating cash flow was negative in the quarter, dividends remained a meaningful cash use, and the business continues to post volatile results from quarter to quarter.

  • Quarterly earnings rebounded strongly. NL reported Q1 2026 net income of $5.1 million, up from a $30.4 million loss in Q4 2025.
  • Revenue grew year over year. Q1 2026 revenue was $40.6 million, slightly above $40.3 million in Q1 2025.
  • Gross profit improved. Gross profit increased to $13.3 million from $12.2 million a year earlier, helped by a better cost structure.
  • The balance sheet remains liquid. NL ended Q1 2026 with $101.9 million in cash and equivalents, plus $245.4 million in long-term investments.
  • Equity remains substantial. Total equity and noncontrolling interests were $377.6 million, well above total liabilities of $83.6 million.
  • Operating revenue has been relatively stable. Over the last four years, quarterly revenue has generally ranged from the high $30 millions to low $40 millions, suggesting a mature, steady top line.
  • Share count has stayed flat. Weighted average shares outstanding were essentially unchanged at about 48.9 million, so EPS changes have mostly come from operating performance rather than dilution.
  • PPE investment remains limited. Capital spending was modest at $0.4 million in Q1 2026, indicating a light reinvestment profile.
  • Long-term investments are a major asset. A large portion of assets is tied up in investments, so reported results can be influenced by market movements and other non-operating items.
  • Operating cash flow turned negative. Q1 2026 operating cash flow was negative $3.5 million, down from positive $7.9 million in Q3 2025 and positive $7.3 million in Q2 2025.
  • Financing cash outflows remain heavy. NL paid $5.4 million in dividends in Q1 2026, which exceeded cash generated from operations.
  • Quarterly earnings remain volatile. Results swung from a large loss in Q4 2025 to a profit in Q1 2026, and prior periods also showed meaningful swings.
  • Non-operating items can overwhelm core performance. Recent quarters have included large gains and losses from interest and investment-related items, making earnings less predictable.
  • Current liabilities increased sharply from year-end. Total current liabilities rose to $14.6 million in Q1 2026 from $7.3 million in Q3 2025, while cash was still high but below prior peaks.

Bottom line: NL Industries appears financially sturdy, with a strong cash/investment position and low leverage, but its earnings and cash flow remain highly dependent on non-operating items. For retail investors, the stock looks more like a balance-sheet story than a consistent operating-growth story.

07/13/26 09:12 PM ETAI Generated. May Contain Errors.

NL Industries Financials - Frequently Asked Questions

According to the most recent income statement we have on file, NL Industries' financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Here's a snapshot of NL Industries' net income over the last 5 years:
  • 2021: $53.36 million
  • 2022: $36.46 million
  • 2023: $582 thousand
  • 2024: $69.26 million
  • 2025: -$35.37 million
Find out what analysts predict for NL Industries in the coming months.

NL Industries' total operating income in 2025 was $10.68 million, based on the following breakdown:
  • Total Gross Profit: $48.18 million
  • Total Operating Expenses: $37.50 million

Over the last 10 years, NL Industries' total revenue changed from $108.99 million in 2015 to $158.29 million in 2025, a change of 45.2%.

NL Industries' total liabilities were at $87.43 million at the end of 2025, a 46.1% decrease from 2024, and a 52.5% decrease since 2015.

In the past 10 years, NL Industries' cash and equivalents has ranged from $68.87 million in 2022 to $163.15 million in 2024, and is currently $110.62 million as of their latest financial filing in 2025.

Over the last 10 years, NL Industries' book value per share changed from 3.08 in 2015 to 7.34 in 2025, a change of 138.4%.


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Financial statements for NYSE:NL last updated on 7/2/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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