Flagship explainer

How NL INDUSTRIES, INC. makes its money

Start with a dollar of revenue and follow what the filing says remains.

revenueBranching filed flows with values and percentages directly labeled. Missing filing concepts are omitted rather than estimated.Revenue$158M · 100%Cost of revenue$110M · 70%Gross profit$48.2M · 30%Operating income$10.7M · 7%Income before tax−$51.4M · −32%Income tax−$16.1M · −10%Net income−$37.8M · −24%As of 2025-12-31 · 1 SEC filing sourceBuy Like Buffett · buylikebuffett.com

Honest partial: the filing did not provide a normalized tag for Research and development, Selling, general and administrative; those components are omitted, not plugged.

Table alternative
Filed lineValue% of revenueSource
$158M100%
Cost of revenue$110M70%
$48.2M30%
$10.7M7%
Income before tax−$51.4M−32%
Income tax−$16.1M−10%
−$37.8M−24%
Source: · event Dec 31, 2025 · retrieved Jul 26, 2026 · annual-row source set
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