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General information

Country: UNITED STATES

Sector: Security and Protection Services

NL Industries, Inc., through its subsidiary, CompX International Inc., operates in the component products industry in the United States and internationally. The company manufactures and sells mechanical and electronic cabinet locks, and other locking mechanisms, including disc tumbler locks, pin tumbler locking mechanisms, and CompX eLock and StealthLock electronic locks for use in various applications, such as ignition systems, mailboxes, file cabinets, desk drawers, tool storage cabinets, vending and cash containment machines, medical cabinetry, electronic circuit panels, storage compartments, and gas station security. It also offers original equipment and aftermarket stainless steel exhaust headers, exhaust pipes, mufflers, and other exhaust components; gauges, such as GPS speedometers and tachometers; mechanical and electronic controls and throttles; wake enhancement devices, trim tabs, steering wheels and other billet aluminum accessories; and dash panels, LED indicators, wire harnesses, and other accessories primarily for performance and ski/wakeboard boats. In addition, it offers insurance brokerage and risk management services. NL Industries, Inc. sells its component products directly to original equipment manufacturers, as well as through distributors. The company was founded in 1891 and is based in Dallas, Texas. NL Industries, Inc. is a subsidiary of Valhi, Inc.
Website: nl-ind.com



Growth: Pretty weak revenue growth rate 7.5%, there is slowdown compared to average historical growth rates 13.4%. The revenue growth dynamics is unstable

Profitability: LTM EBITDA margin is positive, +40.4%. On average the margin is improving unsteadily. Gross margin is normal, +30.2%. In the last quarter the company beat the estimated EPS, +82.4%. The company was ahead of estimated EPS in 67% of quarters (showing a gain of +$0.06 per share on average)

Cash Flow Generation: Dividend yield for the last twelve months 4.0%. Free cash flow yield 2.5% (LTM)

Undervaluation: Fundamental value created in LTM (estimate)


Entry Point: Share price is 59.7% higher than minimum and 30.5% lower than maximum for the last 3 years

AI Insight: the companies with similar growth trajectories, EBITDA margin, industries and geography on average are valued 4.1x by EV / Sales multiple , the company can be >100% undervalued

Key Financials (Download financials)

Ticker: NL
Share price, USD:  (+1.0%)7.33
year average price 5.47  


year start price 6.06 2023-03-31

min close price 4.59 2023-10-16

max close price 7.33 2024-03-28

current price 7.33 2024-03-29
Common stocks: 48 800 000

Dividend Yield:  4.0%
FCF Yield LTM: 2.5%
EV / LTM EBITDA: 3.3x
EV / EBITDA annualized: 2.6x
Last revenue growth (y/y):  7.5%
Last growth of EBITDA (y/y):  10.5%
Historical revenue growth:  13.4%
Historical growth of EBITDA:  57.6%
EV / Sales: 1.3x
Margin (EBITDA LTM / Revenue): 40.4%
Fundamental value created in LTM:
Market Cap ($m): 358
Net Debt ($m): -142
EV (Enterprise Value): 216
Price to Book: 1.0x

Revenue and EBITDA

Quarterly values ($m)

Change (y/y)

Cash Flow

FCF ($m)

Net Debt / Cash and Equivalents ($m)

Share price and dividends (Download history)

Share price

Payment USD per share

Multiple and potential

EV / Sales

Potential dynamics

More information for subscribed users:
detailed calculation of
Fundamental value created in LTM

Financial reporting

Income Statement

Property 2023 q4 2023 q3 2023 q2 2023 q1 2022 q4 2022 q3
date 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30
symbol NL NL NL NL NL NL
reportedCurrency USD USD USD USD USD USD
cik 72 162 72 162 72 162 72 162 72 162 72 162
fillingDate 2024-03-06 2023-11-02 2023-08-02 2023-05-03 2023-03-08 2022-11-02
acceptedDate 2024-03-06 16:44:01 2023-11-02 16:20:42 2023-08-02 16:20:06 2023-05-03 16:26:14 2023-03-08 16:35:17 2022-11-02 16:22:43
calendarYear 2023.000 2023.000 2023.000 2023.000 2022.000 2022.000
period Q4 Q3 Q2 Q1 Q4 Q3
revenue 43M 40M 37M 41M 40M 43M
costOfRevenue 30M 28M 26M 28M 29M 31M
grossProfit 13M 13M 10M 13M 11M 12M
grossProfitRatio 0.302 0.313 0.281 0.309 0.278 0.278
researchAndDevelopmentExpenses 0 0 0 0 0 0
generalAndAdministrativeExpenses 6M 6M 6M 6M 9M 9M
sellingAndMarketingExpenses 1M 0 0 0 -3M 0
sellingGeneralAndAdministrativeExpenses 7M 6M 6M 6M 6M 9M
otherExpenses 0 0 -5M 3M 3M 0
operatingExpenses 7M 9M 9M 9M 9M 9M
costAndExpenses 38M 37M 35M 37M 38M 40M
interestIncome 3M 2M 2M 2M 2M 1M
interestExpense 146 000 202 000 199 000 199 000 300 000 251 000
depreciationAndAmortization 2M 987 000 999 000 1M -5M 1M
ebitda 7M 401 000 -3M 2M -2M -13M
ebitdaratio 0.165 0.010 -0.088 0.053 -0.055 -0.308
operatingIncome 6M 4M 1M 1M 2M -14M
operatingIncomeRatio 0.128 0.091 0.039 0.029 0.060 -0.332
totalOtherIncomeExpensesNet 3M -6M -13M -6M -9M 297 000
incomeBeforeTax 8M -297 000 -10M -5M -6M -14M
incomeBeforeTaxRatio 0.192 -0.007 -0.270 -0.110 -0.158 -0.325
incomeTaxExpense -157 000 -965 000 -7M 1M -800 000 -6M
netIncome 8M -69 000 -3M -6M -6M -8M
netIncomeRatio 0.176 -0.002 -0.085 -0.144 -0.138 -0.195
eps 0.160 -0.001 -0.064 -0.120 -0.110 -0.170
epsdiluted 0.160 -0.001 -0.064 -0.120 -0.110 -0.170
weightedAverageShsOut 49M 49M 49M 49M 49M 49M
weightedAverageShsOutDil 49M 49M 49M 49M 49M 49M
link Link Link Link Link Link Link
finalLink Link Link Link Link Link Link

Balance Sheet Statement

Property 2023 q4 2023 q3 2023 q2 2023 q1 2022 q4 2022 q3
date 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30
symbol NL NL NL NL NL NL
reportedCurrency USD USD USD USD USD USD
cik 72 162 72 162 72 162 72 162 72 162 72 162
fillingDate 2024-03-06 2023-11-02 2023-08-02 2023-05-03 2023-03-08 2022-11-02
acceptedDate 2024-03-06 16:44:01 2023-11-02 16:20:42 2023-08-02 16:20:06 2023-05-03 16:26:14 2023-03-08 16:35:17 2022-11-02 16:22:43
calendarYear 2023.000 2023.000 2023.000 2023.000 2022.000 2022.000
period Q4 Q3 Q2 Q1 Q4 Q3
cashAndCashEquivalents 114M 66M 59M 48M 69M 128M
shortTermInvestments 53M 80M 96M 96M 70M 0
cashAndShortTermInvestments 168M 146M 154M 144M 139M 128M
netReceivables 18M 21M 16M 20M 19M 19M
inventory 31M 34M 34M 30M 31M 33M
otherCurrentAssets 2M 2M 2M 2M 2M 6M
totalCurrentAssets 218M 206M 208M 199M 194M 186M
propertyPlantEquipmentNet 26M 26M 27M 28M 29M 29M
goodwill 27M 27M 27M 27M 27M 27M
intangibleAssets 0 0 0 0 0 0
goodwillAndIntangibleAssets 27M 27M 27M 27M 27M 27M
longTermInvestments 303M 271M 284M 299M 319M 298M
taxAssets 24M 43M 44M 51M 0 0
otherNonCurrentAssets 2M -3M -4M -10M 41M 43M
totalNonCurrentAssets 382M 364M 378M 395M 416M 397M
otherAssets 0 0 0 0 0 0
totalAssets 600M 570M 586M 594M 610M 583M
accountPayables 4M 4M 5M 4M 4M 5M
shortTermDebt 0 0 0 0 0 0
taxPayables 0 0 0 5000.000 5000.000 0
deferredRevenue 0 0 0 0 0 44M
otherCurrentLiabilities 27M 26M 24M 23M 29M -17M
totalCurrentLiabilities 30M 30M 29M 27M 32M 32M
longTermDebt 500 000 500 000 500 000 500 000 500 000 500 000
deferredRevenueNonCurrent -1.000 92M 93M 0 0 0
deferredTaxLiabilitiesNonCurrent 65M 45M 46M 54M 53M 46M
otherNonCurrentLiabilities 112M 17M 29M 122M 122M 119M
totalNonCurrentLiabilities 178M 155M 168M 176M 175M 168M
otherLiabilities 1.000 0 0 0 0 0
capitalLeaseObligations 0 0 0 0 0 0
totalLiabilities 208M 185M 198M 203M 207M 200M
preferredStock 0 0 0 0 0 0
commonStock 6M 6M 6M 6M 6M 6M
retainedEarnings 284M 280M 284M 290M 300M 310M
accumulatedOtherComprehensiveIncomeLoss -220M -221M -221M -224M -223M -252M
othertotalStockholdersEquity 299M 299M 299M 298M 299M 299M
totalStockholdersEquity 370M 364M 368M 370M 382M 363M
totalEquity 392M 386M 389M 370M 382M 363M
totalLiabilitiesAndStockholdersEquity 600M 570M 586M 594M 610M 563M
minorityInterest 22M 21M 21M 21M 21M 0
totalLiabilitiesAndTotalEquity 600M 570M 586M 594M 610M 563M
totalInvestments 356M 351M 380M 395M 389M 298M
totalDebt 500 000 500 000 500 000 500 000 500 000 500 000
netDebt -114M -65M -58M -48M -68M -127M
link Link Link Link Link Link Link
finalLink Link Link Link Link Link Link

Cash Flow Statement

Property 2023 q4 2023 q3 2023 q2 2023 q1 2022 q4 2022 q3
date 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30
symbol NL NL NL NL NL NL
reportedCurrency USD USD USD USD USD USD
cik 72 162 72 162 72 162 72 162 72 162 72 162
fillingDate 2024-03-06 2023-11-02 2023-08-02 2023-05-03 2023-03-08 2022-11-02
acceptedDate 2024-03-06 16:44:01 2023-11-02 16:20:42 2023-08-02 16:20:06 2023-05-03 16:26:14 2023-03-08 16:35:17 2022-11-02 16:22:43
calendarYear 2023.000 2023.000 2023.000 2023.000 2022.000 2022.000
period Q4 Q3 Q2 Q1 Q4 Q3
netIncome 8M 668 000 -3M -6M -5M -8M
depreciationAndAmortization 2M 987 000 999 000 1M 1M 1M
deferredIncomeTax -208 000 -1M -7M 1M -1M -6M
stockBasedCompensation 4M 14M 18M 0 0 0
changeInWorkingCapital 7M -17M 4M -6M 3M -12M
accountsReceivables 3M -5M 4M -845 000 0 0
inventory 4M -614 000 -4M 1M 2M -111 000
accountsPayables 734 000 -12M 4M -4M 0 0
otherWorkingCapital -381 000 -415 000 -30 000 -1M 961 000 -12M
otherNonCashItems 2M -3M 1M 17M 17M 24M
netCashProvidedByOperatingActivities 22M -5M 14M 7M 14M -892 000
investmentsInPropertyPlantAndEquipment -566 000 -86 000 -208 000 -270 000 -687 000 -793 000
acquisitionsNet 0 86 000 208 000 0 0 0
purchasesOfInvestments 0 -11M -17M -33M 0 0
salesMaturitiesOfInvestments 28M 28M 18M 8M 0 0
otherInvestingActivites 1M 114 000 -208 000 1 000 000 -68M 1M
netCashUsedForInvestingActivites 29M 17M 650 000 -24M -69M 1M
debtRepayment 0 0 0 0 0 0
commonStockIssued 0 0 0 0 0 0
commonStockRepurchased 0 0 0 0 2M 0
dividendsPaid -3M -3M -3M -3M -3M -21M
otherFinancingActivites -388 000 -389 000 -390 000 -388 000 -2M -3M
netCashUsedProvidedByFinancingActivities -4M -4M -4M -4M -4M -24M
effectOfForexChangesOnCash -879 000 0 0 0 0 0
netChangeInCash 46M 7M 10M -21M -59M -23M
cashAtEndOfPeriod 114M 95M 87M 77M 98M 156M
cashAtBeginningOfPeriod 69M 87M 77M 98M 156M 179M
operatingCashFlow 22M -5M 14M 7M 14M -892 000
capitalExpenditure -566 000 -86 000 -208 000 -270 000 -687 000 -793 000
freeCashFlow 21M -6M 13M 7M 14M -2M
link Link Link Link Link Link Link
finalLink Link Link Link Link Link Link

Earning call transcript

Press-releases

Show financial reports only

2024-03-06 21:25 ET
NL REPORTS FOURTH QUARTER 2023 RESULTS
2024-02-28 21:20 ET
NL INDUSTRIES ANNOUNCES QUARTERLY DIVIDEND FOR THE FIRST QUARTER OF 2024 AT $.08 PER SHARE
2023-11-02 20:20 ET
NL REPORTS THIRD QUARTER 2023 RESULTS
2023-10-26 20:15 ET
NL INDUSTRIES ANNOUNCES QUARTERLY DIVIDEND FOR THE FOURTH QUARTER OF 2023 AT $.07 PER SHARE
2023-08-02 20:20 ET
NL INDUSTRIES ANNOUNCES QUARTERLY DIVIDEND FOR THE THIRD QUARTER OF 2023 AT $.07 PER SHARE
2023-08-02 20:20 ET
NL REPORTS SECOND QUARTER 2023 RESULTS
2023-05-18 20:15 ET
NL INDUSTRIES, INC. ANNOUNCES QUARTERLY DIVIDEND AND RESULTS OF ANNUAL SHAREHOLDER MEETING
2023-05-03 20:20 ET
NL REPORTS FIRST QUARTER 2023 RESULTS
2023-03-08 21:21 ET
NL REPORTS FOURTH QUARTER 2022 RESULTS
2023-02-23 21:15 ET
NL INDUSTRIES ANNOUNCES QUARTERLY DIVIDEND FOR THE FIRST QUARTER OF 2023 AT $.07 PER SHARE
2022-11-02 20:25 ET
NL REPORTS THIRD QUARTER 2022 RESULTS
2022-10-27 20:15 ET
NL INDUSTRIES ANNOUNCES QUARTERLY DIVIDEND FOR THE FOURTH QUARTER OF 2022 AT $.07 PER SHARE
2022-08-10 20:15 ET
NL INDUSTRIES ANNOUNCES A SPECIAL DIVIDEND OF 35 CENTS PER SHARE PAYABLE IN AUGUST 2022
2022-08-03 20:18 ET
NL INDUSTRIES ANNOUNCES QUARTERLY DIVIDEND FOR THE THIRD QUARTER OF 2022 AT $.07 PER SHARE
2022-08-03 20:18 ET
NL REPORTS SECOND QUARTER 2022 RESULTS
2022-05-19 20:15 ET
NL INDUSTRIES, INC. ANNOUNCES QUARTERLY DIVIDEND AND RESULTS OF ANNUAL SHAREHOLDER MEETING
2022-05-04 20:20 ET
NL REPORTS FIRST QUARTER 2022 RESULTS
2022-03-09 21:20 ET
NL REPORTS FOURTH QUARTER 2021 RESULTS
2022-03-02 21:22 ET
NL INDUSTRIES ANNOUNCES QUARTERLY DIVIDEND FOR THE FIRST QUARTER OF 2022 AT $.07 PER SHARE
2021-11-04 20:20 ET
NL REPORTS THIRD QUARTER 2021 RESULTS
2021-10-28 20:15 ET
NL INDUSTRIES ANNOUNCES QUARTERLY DIVIDEND FOR THE FOURTH QUARTER OF 2021 AT $.06 PER SHARE
2021-08-04 20:22 ET
NL INDUSTRIES ANNOUNCES QUARTERLY DIVIDEND FOR THE THIRD QUARTER OF 2021 AT $.06 PER SHARE
2021-08-04 20:20 ET
NL REPORTS SECOND QUARTER 2021 RESULTS
2021-05-20 20:15 ET
NL INDUSTRIES, INC. ANNOUNCES QUARTERLY DIVIDEND AND RESULTS OF ANNUAL SHAREHOLDER MEETING
2021-05-05 20:20 ET
NL REPORTS FIRST QUARTER 2021 RESULTS
2021-03-10 21:30 ET
NL REPORTS FOURTH QUARTER 2020 RESULTS
2021-03-03 21:35 ET
NL INDUSTRIES ANNOUNCES $0.06 PER SHARE DIVIDEND FOR THE FIRST QUARTER OF 2021
2020-11-04 21:30 ET
NL REPORTS THIRD QUARTER 2020 RESULTS
2020-10-29 20:15 ET
NL INDUSTRIES ANNOUNCES QUARTERLY DIVIDEND FOR THE FOURTH QUARTER OF 2020 AT $.04 PER SHARE
2020-08-05 20:30 ET
NL INDUSTRIES ANNOUNCES QUARTERLY DIVIDEND FOR THE THIRD QUARTER OF 2020 AT $.04 PER SHARE
2020-08-05 20:25 ET
NL REPORTS SECOND QUARTER 2020 RESULTS
2020-05-21 20:15 ET
NL INDUSTRIES, INC. ANNOUNCES QUARTERLY DIVIDEND AND RESULTS OF ANNUAL SHAREHOLDER MEETING
2020-05-06 20:20 ET
NL REPORTS FIRST QUARTER 2020 RESULTS
2020-03-11 20:20 ET
NL REPORTS FOURTH QUARTER 2019 RESULTS
2020-02-19 21:20 ET
NL INDUSTRIES ANNOUNCES QUARTERLY DIVIDEND FOR THE FIRST QUARTER OF 2020 AT $.04 PER SHARE
2019-11-07 21:20 ET
NL REPORTS THIRD QUARTER 2019 RESULTS
2019-03-11 20:16 ET
NL REPORTS FOURTH QUARTER 2018 RESULTS
2019-02-12 12:20 ET
Detailed Research: Economic Perspectives on Callon Petroleum, Summit Materials, Echo Global Logistics, BioCryst Pharmaceuticals, NEXEO SOLUTIONS, and NL Industries — What Drives Growth in Today's Competitive Landscape

SEC forms

Show financial reports only

SEC form 10
2024-03-06 16:44 ET
NL Industries published news for 2023 q4
SEC form 10
2024-03-06 00:00 ET
NL Industries reported for 2023 q4
SEC form 8
2024-03-06 00:00 ET
NL Industries published news for 2023 q4
SEC form 8
2024-03-06 00:00 ET
NL Industries reported for 2023 q4
SEC form 10
2023-11-02 16:20 ET
NL Industries published news for 2023 q3
SEC form 8
2023-11-02 00:00 ET
NL Industries reported for 2023 q3
SEC form 10
2023-11-02 00:00 ET
NL Industries reported for 2023 q3
SEC form 6
2023-08-02 16:24 ET
NL Industries published news for 2023 q2
SEC form 10
2023-08-02 16:20 ET
NL Industries published news for 2023 q2
SEC form 8
2023-08-02 00:00 ET
NL Industries reported for 2023 q2
SEC form 10
2023-08-02 00:00 ET
NL Industries reported for 2023 q2
SEC form 8
2023-05-03 00:00 ET
NL Industries published news for 2023 q1
SEC form 10
2023-05-03 00:00 ET
NL Industries published news for 2023 q1
SEC form 10
2023-03-08 16:35 ET
NL Industries reported for 2022 q4
SEC form 6
2023-03-08 16:30 ET
NL Industries published news for 2022 q4
SEC form 8
2023-03-08 00:00 ET
NL Industries reported for 2022 q4
SEC form 10
2023-03-08 00:00 ET
NL Industries reported for 2022 q4
SEC form 6
2023-02-27 16:17 ET
NL Industries published news for 2022 q4
SEC form 6
2023-02-23 16:20 ET
NL Industries published news for 2022 q4
SEC form 6
2022-12-16 16:21 ET
NL Industries published news for 2022 q3
SEC form 6
2022-11-09 16:18 ET
NL Industries published news for 2022 q3
SEC form 6
2022-11-02 16:30 ET
NL Industries published news for 2022 q3
SEC form 10
2022-11-02 16:22 ET
NL Industries reported for 2022 q3
SEC form 10
2022-11-02 00:00 ET
NL Industries reported for 2022 q3
SEC form 8
2022-11-02 00:00 ET
NL Industries reported for 2022 q3
SEC form 6
2022-10-27 16:21 ET
NL Industries published news for 2022 q3
SEC form 6
2022-08-10 16:20 ET
NL Industries published news for 2022 q2
SEC form 10
2022-08-03 16:22 ET
NL Industries reported for 2022 q2
SEC form 6
2022-08-03 16:20 ET
NL Industries published news for 2022 q2
SEC form 10
2022-08-03 00:00 ET
NL Industries reported for 2022 q2
SEC form 8
2022-08-03 00:00 ET
NL Industries reported for 2022 q2
SEC form 6
2022-05-19 16:16 ET
NL Industries published news for 2022 q1
SEC form 6
2022-05-04 16:23 ET
NL Industries published news for 2022 q1
SEC form 10
2022-05-04 16:22 ET
NL Industries reported for 2022 q1
SEC form 8
2022-05-04 00:00 ET
NL Industries reported for 2022 q1
SEC form 10
2022-05-04 00:00 ET
NL Industries reported for 2022 q1
SEC form 6
2022-03-30 16:25 ET
NL Industries published news for 2021 q4
SEC form 10
2022-03-09 16:35 ET
NL Industries published news for 2021 q4
SEC form 6
2022-03-09 16:23 ET
NL Industries published news for 2021 q4
SEC form 8
2022-03-09 00:00 ET
NL Industries published news for 2021 q4
SEC form 10
2022-03-09 00:00 ET
NL Industries published news for 2021 q4
SEC form 6
2022-03-02 16:24 ET
NL Industries published news for 2021 q4
SEC form 6
2021-11-04 16:22 ET
NL Industries published news for 2021 q3
SEC form 10
2021-11-04 16:21 ET
NL Industries published news for 2021 q3
SEC form 8
2021-11-04 00:00 ET
NL Industries published news for 2021 q3
SEC form 10
2021-11-04 00:00 ET
NL Industries published news for 2021 q3
SEC form 6
2021-10-28 16:17 ET
NL Industries published news for 2021 q3
SEC form 10
2021-08-04 16:25 ET
NL Industries published news for 2021 q2
SEC form 6
2021-08-04 16:24 ET
NL Industries published news for 2021 q2
SEC form 8
2021-08-04 00:00 ET
NL Industries published news for 2021 q2
SEC form 10
2021-08-04 00:00 ET
NL Industries published news for 2021 q2
SEC form 6
2021-06-02 16:17 ET
NL Industries published news for 2021 q1
SEC form 6
2021-05-20 16:16 ET
NL Industries published news for 2021 q1
SEC form 6
2021-05-05 16:21 ET
NL Industries published news for 2021 q1
SEC form 10
2021-05-05 16:21 ET
NL Industries published news for 2021 q1
SEC form 10
2021-05-05 00:00 ET
NL Industries published news for 2021 q1
SEC form 8
2021-05-05 00:00 ET
NL Industries published news for 2021 q1
SEC form 6
2021-04-26 16:19 ET
NL Industries published news for 2021 q1
SEC form 6
2021-04-23 16:27 ET
NL Industries published news for 2021 q1
SEC form 6
2021-03-31 16:19 ET
NL Industries published news for 2020 q4
SEC form 10
2021-03-10 16:45 ET
NL Industries published news for 2020 q4
SEC form 6
2021-03-10 16:32 ET
NL Industries published news for 2020 q4
SEC form 6
2021-03-03 16:36 ET
NL Industries published news for 2020 q4
SEC form 6
2020-11-04 16:32 ET
NL Industries published news for 2020 q3
SEC form 10
2020-11-04 16:26 ET
NL Industries published news for 2020 q3
SEC form 6
2020-10-29 16:16 ET
NL Industries published news for 2020 q3