Enpro Inc. NPO
Enpro was incorporated under the laws of the State of North Carolina on January 11, 2002, as a wholly owned subsidiary of Goodrich Corporation ("Goodrich"). The incorporation was organized in connection with Goodrich's spin-off of its Engineered Industrial Products segment effected, by a distribution of the Company's common stock to existing Goodrich shareholders. The distribution took place on May 31, 2002.
Today, Enpro Inc. is a leading-edge industrial technology company focused on critical applications across a diverse group of growing end markets including semiconductor, industrial process, commercial vehicle, sustainable power generation, aerospace, food and biopharmaceuticals, photonics and life sciences. Enpro is a leader in applied engineering and designs, develops, manufactures, and markets proprietary, value-added products and solutions that generally have a specified position on a critical application, contributing key functionality with the purpose of safeguarding a variety of critical environments. Over the past several years, we have executed several strategic initiatives to create a portfolio of businesses that offers proprietary, industrial technology-related products and solutions with high barriers to entry, compelling margins, strong cash flow, and perpetual recurring/aftermarket revenue in markets with favorable secular tailwinds. These initiatives, which include those described in "Acquisitions" and "Dispositions" below, have broadened our capabilities to provide critical solutions in growing semiconductor, life sciences, and test and measurement industries, in addition to the other diverse markets we serve. As of December 31, 2025, our continuing operations had 15 primary manufacturing and service facility locations (approximately 50,000 square feet or larger) located in 8 countries, including the United States.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.14B | $1.05B | $1.06B | $1.10B | $840.4M | $800.0M | $1.21B | $1.27B | $1.10B | $1.19B |
| Cost of revenue | $655.8M | $603.9M | $632.5M | $675.9M | $512.3M | $514.5M | $801.9M | $855.6M | $716.0M | $791.9M |
| Gross profit | $487.5M | $444.8M | $426.8M | $423.3M | $328.1M | $285.5M | $403.8M | $418.5M | $385.4M | $395.8M |
| R&D | $13.3M | $10.9M | $9.5M | $10.1M | $9.8M | $9.4M | $20.6M | $22.9M | $24.5M | $28.9M |
| SG&A | $323.4M | $296.3M | $284.2M | $282.8M | $260.3M | $230.2M | $314.9M | $311.6M | $298.3M | $302.7M |
| Total operating expenses | $325.9M | $302.5M | $350.0M | $351.1M | $262.7M | $256.4M | $347.2M | $332.7M | $315.2M | $398.3M |
| Operating income | $161.6M | $142.3M | $76.8M | $72.2M | $65.4M | $29.1M | $56.6M | $85.8M | $70.2M | -$2.5M |
| Interest expense | $34.0M | $40.9M | $45.0M | $35.6M | $16.2M | $16.5M | $19.6M | $28.5M | $50.9M | $55.9M |
| Pre-tax income | $57.6M | $94.4M | $37.7M | $28.3M | $66.0M | -$23.5M | $4.3M | $15.1M | $546.0M | -$68.7M |
| Income tax | $17.1M | $21.5M | $30.8M | $24.4M | $8.7M | $2.5M | $3.5M | $19.8M | $28.1M | $28.6M |
| Net income | $40.5M | $72.9M | $22.2M | $205.1M | $177.9M | $177.6M | $38.3M | $19.6M | $539.8M | -$40.1M |
| EPS, basic | 1.92 | 3.48 | 1.06 | 9.86 | 8.64 | 8.64 | 1.86 | 0.94 | 25.28 | -1.86 |
| EPS, diluted | 1.91 | 3.45 | 1.05 | 9.83 | 8.57 | 8.64 | 1.85 | 0.94 | 24.76 | -1.86 |
| Shares, diluted (wtd. avg.) | $21.2M | $21.1M | $21.0M | $20.9M | $20.8M | $20.5M | $20.8M | $20.9M | $21.8M | $21.6M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $114.7M | $236.3M | $369.8M | $334.4M | $338.1M | $229.5M | $121.2M | $129.6M | $189.3M | $111.5M |
| Inventory | $153.8M | $138.8M | $142.6M | $151.9M | $135.9M | $139.1M | $157.1M | $174.2M | $204.1M | $175.4M |
| Total current assets | $437.7M | $512.3M | $650.3M | $684.2M | $804.7M | $579.0M | $749.5M | $732.1M | $819.6M | $524.9M |
| Property, plant and equipment | $221.5M | $193.2M | $193.8M | $185.2M | $184.3M | $195.0M | $218.8M | $234.3M | $296.9M | $215.4M |
| Goodwill | $1.06B | $896.2M | $808.4M | $863.8M | $948.0M | $605.1M | $485.3M | $322.1M | $324.1M | $201.5M |
| Total assets | $2.66B | $2.49B | $2.50B | $2.65B | $2.97B | $2.08B | $2.04B | $1.72B | $1.89B | $1.55B |
| Accounts payable | $71.6M | $66.0M | $68.7M | $73.4M | $72.0M | $69.8M | $82.7M | $96.4M | $130.7M | $102.9M |
| Short-term debt | $200.0K | $16.0M | $8.1M | $15.6M | $12.7M | $3.8M | $4.1M | $2.4M | $200.0K | $200.0K |
| Total current liabilities | $188.7M | $198.0M | $196.4M | $211.5M | $386.3M | $202.0M | $313.6M | $292.0M | $268.1M | $303.0M |
| Long-term debt | $655.1M | $624.1M | $638.7M | $775.1M | $963.9M | $487.5M | $625.2M | $462.5M | $618.3M | $424.8M |
| Total liabilities | $1.12B | $1.06B | $1.07B | $1.23B | $1.65B | $956.7M | $1.12B | $858.1M | $983.3M | $1.19B |
| Retained earnings | $1.19B | $1.18B | $1.13B | $1.13B | $953.1M | $794.8M | $632.2M | $603.3M | $604.4M | $84.0M |
| Total equity | $1.54B | $1.43B | $1.41B | $1.40B | $1.27B | $1.08B | $896.6M | $857.7M | $902.8M | $358.5M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $201.2M | $162.9M | $208.4M | $106.1M | $124.1M | $42.1M | $130.8M | $212.8M | $35.2M | $64.5M |
| Depreciation and amortisation | $102.8M | $100.3M | $94.5M | $103.1M | $63.8M | $56.6M | $67.9M | $66.1M | $58.6M | $57.1M |
| Stock-based compensation | $13.5M | $12.0M | $9.8M | $6.5M | $5.0M | $5.4M | $6.8M | $6.5M | $9.5M | $5.1M |
| Capital expenditure | $42.0M | $29.1M | $33.9M | $29.4M | $14.9M | $13.4M | $21.6M | $36.1M | $30.3M | $35.8M |
| Investing cash flow | -$316.9M | -$241.5M | -$7.4M | $302.7M | -$647.4M | $221.4M | -$331.1M | $1.1M | -$89.5M | -$61.4M |
| Financing cash flow | -$17.4M | -$50.5M | -$170.9M | -$402.1M | $618.2M | -$167.3M | $123.8M | -$252.4M | $118.5M | $22.0M |
| Dividends paid | $26.2M | $25.3M | $24.3M | $23.4M | $22.4M | $21.7M | $20.9M | $20.3M | $19.0M | $18.1M |
| Buybacks | — | — | — | — | $0 | $5.3M | $15.0M | $50.0M | $11.5M | $30.4M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-009798.