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The Moat Index

NPK International Inc.

NPKI · Technology · $1.3B mkt cap · FY2025 filings · No moat ·

Doesn't clear the bar

37/ 100
No moat

The four filters

Pricing power6

Median gross margin 18.8% over 10y, variable.

Returns on capital7

Median ROIC 2.8%, above the 9% hurdle in 20% of years.

Balance-sheet safety100

Net cash position — no leverage risk.

Capital discipline63

Owner earnings trend unclear, share count shrinking (buybacks).

Margin of safety

Above valueOn sale
No price data
Owner earnings (normalized)
—
Est. intrinsic value / share
—
Recent price
$14.34
Discount to value
No price data

Conservative model: 9% discount rate, 0% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

18 years of fundamentals

The business, in plain English

NPK International Inc. booked $277.0M of revenue in FY2025 in the Technology sector and kept 36.4% of it as gross profit — a solid-margin business by that measure. After every other cost, 14.1% of each revenue dollar reached the bottom line.

Across the filed record, revenue shrank from $490.3M (FY2009) to $277.0M (FY2025) — about −3.5% a year compounded over 16 years.

It earned 10.2% on invested capital in FY2025, with a median of 4.5% across 17 filed years. The Returns on Capital filter above scores it 7/100.

The balance sheet carried $178.6M of total debt in FY2015. Balance-Sheet Safety scores it 100/100.

The share count has held roughly flat between FY2009 and FY2025. Capital Discipline scores it 63/100.

Put together: Balance-Sheet Safety is the strongest of the four filters (100/100) and Pricing Power the weakest (6/100), which is how NPKI lands at 37/100 — a None moat.

This breakdown is generated from the filed numbers and sub-scores above — no outside narrative, no estimates. Where a filing doesn’t disclose an input, the sentence that would need it is omitted instead of guessed.

FY2008–FY2025 · 18 fiscal years, normalized from NPKI’s SEC filings

RevenueSales, as filed$277.0M FY2025
$0$500M$1B2008201420202025
Gross marginRevenue kept after cost of goods36.4% FY2025
0%20%2008201420202025
Return on invested capitalOperating profit on the capital employed10.2% FY2025
0%2008201420202025
Owner earningsCash an owner could take out$38.9M FY2025
−$100M$0$100M2008201420202025

Gaps in a line mean that item isn’t in NPKI’s filings for that year — the series is never interpolated or estimated. The Table view lists every filed value, including operating and net margins, total debt, and share count.

Moat Score history

3 logged readings since Jul 17, 2026 · append-only, never rewritten

Moat Score over timeLast scored reading of each day, on the 0–100 scale36.6 / 100
0406080100WideNarrowShallowNo moatJul 17, 2026

Score history begins Jul 17, 2026 — the record builds from here and can’t be backfilled.

Tier changesSame-methodology crossings of the Wide / Narrow / Shallow bars

None yet — NPKI has read No moat for every logged capture since Jul 17, 2026.

Scores are logged append-only and never overwritten — this record can’t be backfilled, which is exactly why it’s worth keeping.

Technology context

#352 of 532 scored Technology companies, ranked by Moat Score.

Nearest peers by Moat Score

  1. #350FSLY FASTLY, INC.36.9No moat
  2. #351AMPG AmpliTech Group, Inc.36.8No moat
  3. #353CREG SMART POWERR CORP.36.6No moat
  4. #354CLRO CLEARONE INC36.6No moat

Compare NPKI with its nearest peers →All Technology companies on the Index →

Common questions about NPKI

Does NPK International Inc. have an economic moat?
Based on its FY2025 SEC filings, the Moat Index scores NPK International Inc. (NPKI) 36.6 out of 100 — below the Shallow-moat bar, so no moat. The four filters behind that score (each 0–100): pricing power 6, returns on capital 7, balance-sheet safety 100, capital discipline 63.
How has NPKI's Moat Score changed over time?
The record logs 3 readings since Jul 17, 2026; the latest reads 36.6 out of 100 (no moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.
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Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell NPKI. See the disclaimer.

NPK International Inc. (NPKI) Moat Score — The Moat Index · Buy Like Buffett