NPKNATIONAL PRESTO INDUSTRIES INC
Ordnance & Accessories, (no Vehicles/guided Missiles)
- Revenue
- $504M
- 30% YoY
- Operating margin
- 8.0%
- 31% YoY
- EBITDA
- $44M
- 10% YoY
- Market cap
- $1.1B
- Employees
- 1,200
- $420K revenue each
- Net debt / EBITDA
- —
- AI in 10-K
- 0.0
- mentions per 10K words
Takeover score 5 of 13
Fixable underperformance 2 of 7
- TSR below peersNo1 of 5 years3+ of last 5 years
- High CEO pay despite TSRNo$754K medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashYes-28% of net incomeCash flow under 80% of net income
- Dilutive SBCNo0% of revenueOver 10% of revenue
- Payouts exceed cash flowNo-78% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo4% of assetsOver 40% of assets
- Shareholder dissentYes67% lowest supportAny vote under 80% support
Buyer economics 2 of 4
- Low revenue per employeeNo$420K · 52nd pctBottom quartile of its SIC industry
- Quiet on AIYes0.0 per 10K words · 0th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedYes$1.1B market capMarket cap $500M–$5B
Catalysts 1 of 2
- Active 13DYes1 filingActive-intent 13D in 18 months
- Net insider sellingNo−$418K netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $356M | $322M | $341M | $388M | $504M | 30% |
| Operating income | $30M | $22M | $35M | $45M | $40M | 11% |
| Net income | $26M | $21M | $35M | $41M | $33M | 20% |
| Operating cash flow | $35M | $9M | $45M | −$53M | −$9M | 83% |
| Capex | $3M | $1M | $2M | $8M | $27M | 259% |
| Stock-based comp | $469K | $476K | $613K | $491K | $575K | 17% |
| Dividends | $44M | $32M | $28M | $32M | $7M | 78% |
Deal filings
None.
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|---|---|---|---|
| Jun 15, 2026 | Albion River Management LLC | SCHEDULE 13D/A | 4.0% | Passive |
| Dec 5, 2025 | Albion River Management LLC | SCHEDULE 13D | 5.1% | Active |
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $418K · 2
- Net
- −$418K
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $754K | $799K | 153 | 44 |
| FY2024 | $658K | $751K | 139 | 44 |
| FY2023 | $654K | $732K | 107 | 52 |
| FY2022 | $784K | $710K | 87 | 56 |
| FY2021 | $756K | $744K | 98 | 104 |