A Business at a Glance
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NORTHERN TECHNOLOGIES INTERNATIONAL CORP
NTIC
$76M
Mkt Cap
$8.04
+0.50%
NORTHERN TECHNOLOGIES INTERNATIONAL CORP (NTIC) has a 5-year average return on invested capital (ROIC) of 7.8%. This is below average and may indicate limited pricing power.
NORTHERN TECHNOLOGIES INTERNATIONAL CORP (NTIC) has a market capitalization of $76M. It is classified as a small-cap stock.
Yes, NORTHERN TECHNOLOGIES INTERNATIONAL CORP (NTIC) pays a dividend with a trailing twelve-month yield of 0.50%.
NORTHERN TECHNOLOGIES INTERNATIONAL CORP (NTIC) operates in the Coating, Engraving & Allied Services industry, within the Industrials sector.
NORTHERN TECHNOLOGIES INTERNATIONAL CORP (NTIC) reported annual revenue of $84 million in its most recent fiscal year, based on SEC EDGAR filings.
NORTHERN TECHNOLOGIES INTERNATIONAL CORP (NTIC) has a net profit margin of 0.0%. This is a modest margin.
NORTHERN TECHNOLOGIES INTERNATIONAL CORP (NTIC) generated $917 thousand in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Northern Technologies International Corporation (NTIC) develops and markets proprietary, environmentally beneficial products and services in over 65 countries either directly or via a network of subsidiaries, joint ventures, independent distributors, and agents. NTIC’s primary business is corrosion prevention marketed mainly under the ZERUST® brand. NTIC has been selling its proprietary ZERUST® products and services to the automotive, general industrial, mechanical, mining, agricultural, and retail consumer markets for over 50 years and, more recently, has also expanded into the oil and gas industry. Additionally, NTIC markets and sells a portfolio of proprietary bio-based and certified compostable (fully biodegradable) polymer resin compounds and finished products under the Natur-Tec® brand. These sustainable packaging products are intended to reduce NTIC’s customers’ carbon footprint and provide environmentally sound waste disposal options.
| Segment | 2021 | 2022 | 2023 | 2024 | 2025 | % of Total |
|---|---|---|---|---|---|---|
ZERUST | $46M | $57M | $62M | $63M | $62M | 74% |
NaturTec | $11M | $17M | $18M | $22M | $22M | 26% |
Unaffiliated Customers Outside the USA | — | — | $48M | $52M | — | — |
Joint Ventures in Which the Company is a Shareholder Directly and Indirectly Outside the USA | — | — | $3M | $2M | — | — |
Inside the USA to Unaffiliated Customers | — | — | $29M | $30M | — | — |
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 89M | 84M | 85M | 80M | 74M | 56M |
| Net Income | -775K | 18K | 5.4M | 2.9M | 6.3M | 6.3M |
| EPS | $-0.08 | $0.00 | $0.55 | $0.30 | $0.66 | $0.64 |
| Free Cash Flow | -4.0M | 917K | 4.0M | 2.3M | -351K | -2.6M |
| ROIC | -3.1% | 2.3% | 9.9% | 6.9% | 7.0% | 12.9% |
| Gross Margin | 37.0% | 37.6% | 39.7% | 34.8% | 31.1% | 34.6% |
| Debt/Equity | 0.05 | 0.01 | 0.00 | 0.28 | 0.30 | 0.14 |
| Dividends/Share | $0.04 | $0.16 | $0.28 | $0.28 | $0.28 | $0.20 |
| Operating Income | 3.1M | 2.6M | 7.9M | 6.0M | 5.1M | 8.3M |
| Operating Margin | 3.5% | 3.1% | 9.3% | 7.5% | 6.9% | 14.7% |
| ROE | -1.1% | 0.0% | 7.9% | 4.5% | 10.0% | 10.6% |
| Shares Outstanding | 9M | 9M | 10M | 10M | 10M | 10M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 27M | 30M | 33M | 40M | 51M | 56M | 48M | 56M | 74M | 80M | 85M | 84M | 89M |
| Gross Margin | 33.6% | 32.2% | 32.2% | 33.5% | 33.6% | 31.9% | 33.6% | 34.6% | 31.1% | 34.8% | 39.7% | 37.6% | 37.0% |
| R&D | 4.4M | 4.0M | 4.7M | 2.9M | 3.5M | 3.8M | 4.0M | 4.4M | 4.8M | 5.0M | 4.8M | 5.0M | 4.8M |
| SG&A | 5.4M | 6.5M | 8.2M | 7.8M | 8.5M | 9.3M | 8.7M | 8.3M | 11M | 13M | 14M | 15M | 15M |
| EBIT | 6.7M | 3.2M | 1.3M | 4.6M | 8.0M | 6.6M | 1.6M | 8.3M | 5.1M | 6.0M | 7.9M | 2.6M | 3.1M |
| Op. Margin | 25.0% | 10.4% | 3.9% | 11.6% | 15.6% | 11.8% | 3.3% | 14.7% | 6.9% | 7.5% | 9.3% | 3.1% | 3.5% |
| Net Income | 4.1M | 1.8M | -868K | 3.4M | 6.7M | 5.2M | -1.3M | 6.3M | 6.3M | 2.9M | 5.4M | 18K | -775K |
| Net Margin | 15.3% | 5.9% | -2.6% | 8.6% | 13.0% | 9.3% | -2.8% | 11.1% | 8.5% | 3.6% | 6.4% | 0.0% | -0.9% |
| Non-Recurring | 0 | -32K | 0 | -50K | 11K | 36K | -174K | 0 | 0 | 9K | 0 | -78K | -78K |
| Returns on Capital | |||||||||||||
| ROIC | 14.2% | 5.5% | 3.2% | 9.6% | 16.1% | 11.8% | 2.0% | 12.9% | 7.0% | 6.9% | 9.9% | 2.3% | -3.1% |
| ROE | 9.5% | 3.9% | -1.9% | 7.3% | 13.1% | 9.5% | -2.4% | 10.6% | 10.0% | 4.5% | 7.9% | 0.0% | -1.1% |
| ROA | 8.0% | 3.4% | -1.7% | 6.4% | 11.2% | 7.9% | -2.0% | 8.9% | 7.9% | 3.3% | 5.9% | 0.0% | -0.7% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | -8K | -756K | 2.1M | 5.7M | 609K | 5.5M | 4.9M | 2.9M | 1.1M | 5.5M | 5.9M | 2.4M | -2.1M |
| Free Cash Flow | -1.6M | -2.2M | 1.4M | 4.8M | -72K | 4.5M | 4.2M | -2.6M | -351K | 2.3M | 4.0M | 917K | -4.0M |
| Owner Earnings | -917K | -1.8M | 968K | 4.6M | -658K | 3.2M | 2.7M | 1.3M | -1.4M | 2.6M | 2.7M | -674K | -15M |
| CapEx | 1.6M | 1.4M | 643K | 922K | 681K | 960K | 711K | 5.5M | 1.5M | 3.2M | 1.9M | 1.5M | 1.8M |
| Maint. CapEx | 455K | 530K | 660K | 787K | 854K | 841K | 837K | 905K | 1.6M | 1.6M | 1.8M | 1.8M | 11M |
| Growth CapEx | 1.1M | 908K | 0 | 135K | 0 | 119K | 0 | 4.6M | 0 | 1.6M | 165K | 0 | 0 |
| D&A | 455K | 530K | 660K | 787K | 854K | 841K | 837K | 905K | 1.6M | 1.6M | 1.8M | 1.8M | 11M |
| CapEx/OCF | N/A | N/A | 31.3% | 16.1% | 111.8% | 17.5% | 14.5% | 191.3% | 130.6% | 58.6% | 32.6% | 62.5% | 0.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 1.8M | 2.2M | 1.2M | 1.8M | 2.6M | 2.6M | 2.6M | 1.5M | 379K |
| Dividend Yield | N/A | N/A | N/A | N/A | 1.8% | 1.8% | 1.4% | 1.4% | 2.2% | 2.3% | 2.0% | 1.5% | 0.5% |
| Share Buybacks | 0 | 24K | 139K | 196K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | 0.0% | 0.3% | 0.3% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 454K | 496K | 427K | 392K | 413K | 1.4M | 1.3M | 664K | 932K | 1.3M | 1.4M | 1.4M | 1.3M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -5.0M | -6.8M | -3.1M |
| Cash & Equiv. | 2.5M | 2.6M | 3.4M | 6.4M | 4.2M | 5.9M | 6.4M | 7.7M | 5.3M | 5.4M | 5.0M | 7.3M | 6.5M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0 | 467K | 422K |
| Debt/Equity | 0.18 | 0.15 | 0.15 | 0.16 | 0.20 | 0.19 | 0.11 | 0.14 | 0.30 | 0.28 | 0.00 | 0.01 | 0.05 |
| Interest Coverage | 141.5 | 150.4 | 96.7 | 225.7 | 446.4 | 485.9 | 99.1 | 517.4 | 57.8 | 13.0 | 23.1 | 4.3 | 4.2 |
| Equity | 46M | 45M | 45M | 49M | 53M | 57M | 57M | 62M | 64M | 66M | 71M | 72M | 73M |
| Total Assets | 54M | 52M | 51M | 57M | 64M | 68M | 66M | 74M | 86M | 89M | 95M | 103M | 105M |
| Total Liabilities | 8.3M | 6.7M | 6.5M | 7.8M | 10M | 11M | 6.4M | 8.6M | 19M | 19M | 20M | 26M | -574K |
| Intangibles | 1.2M | 1.3M | 1.3M | 1.3M | 1.2M | 1.0M | 802K | 710K | 6.6M | 6.2M | 5.7M | 8.8M | 8.4M |
| Retained Earnings | 33M | 35M | 34M | 37M | 42M | 45M | 42M | 47M | 51M | 51M | 54M | 52M | 52M |
| Working Capital | 18M | 16M | 17M | 21M | 23M | 25M | 27M | 25M | 23M | 23M | 24M | 20M | 20M |
| Current Assets | 22M | 19M | 21M | 26M | 31M | 33M | 33M | 34M | 40M | 40M | 42M | 44M | 45M |
| Current Liabilities | 4.5M | 3.7M | 4.0M | 4.9M | 7.7M | 7.8M | 6.1M | 8.5M | 17M | 17M | 18M | 24M | 25M |
| Per Share Data | |||||||||||||
| EPS | 0.45 | 0.19 | -0.10 | 0.38 | 0.74 | 0.55 | -0.15 | 0.64 | 0.66 | 0.30 | 0.55 | 0.00 | -0.08 |
| Owner EPS | -0.10 | -0.19 | 0.11 | 0.50 | -0.07 | 0.34 | 0.31 | 0.13 | -0.14 | 0.27 | 0.28 | -0.07 | -1.54 |
| Book Value | 5.01 | 4.76 | 4.88 | 5.35 | 5.84 | 5.97 | 6.35 | 6.35 | 6.64 | 6.84 | 7.24 | 7.61 | 7.72 |
| Cash Flow/Share | -0.00 | -0.08 | 0.23 | 0.63 | 0.07 | 0.58 | 0.55 | 0.29 | 0.12 | 0.57 | 0.60 | 0.26 | 1.10 |
| Dividends/Share | N/A | N/A | N/A | 0.00 | 0.20 | 0.24 | 0.13 | 0.20 | 0.28 | 0.28 | 0.28 | 0.16 | 0.04 |
| Shares Out. | 9.1M | 9.4M | 9.1M | 9.1M | 9.1M | 9.5M | 8.9M | 9.8M | 9.6M | 9.7M | 9.8M | 9.5M | 9.5M |
| Valuation | |||||||||||||
| P/E Ratio | 19.7 | 36.9 | N/A | 19.8 | 22.6 | 17.9 | N/A | 24.4 | 16.9 | 40.6 | 23.9 | N/A | -98.3 |
| P/FCF | N/A | N/A | 36.9 | 14.0 | N/A | 20.7 | 16.7 | N/A | N/A | 51.5 | 32.6 | 76.2 | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 15.8 | 24.5 | 23.5 |
| Price/Book | 1.8 | 1.5 | 1.2 | 1.4 | 2.9 | 1.7 | 1.2 | 2.5 | 1.7 | 1.8 | 1.8 | 1.0 | 1.0 |
| Price/Sales | 2.9 | 2.6 | 1.6 | 1.5 | 2.0 | 2.2 | 1.8 | 2.2 | 1.6 | 1.4 | 1.6 | 1.2 | 0.9 |
| FCF Yield | -2.0% | -3.3% | 2.7% | 7.1% | -0.0% | 4.8% | 6.0% | -1.7% | -0.3% | 1.9% | 3.1% | 1.3% | -5.2% |
| Market Cap | 81M | 66M | 52M | 68M | 151M | 93M | 70M | 153M | 107M | 118M | 129M | 70M | 76M |
| Avg. Price | 8.43 | 8.32 | 5.89 | 6.70 | 11.13 | 12.69 | 9.48 | 12.54 | 12.27 | 11.71 | 13.42 | 10.41 | 8.04 |
| Year-End Price | 8.85 | 7.01 | 5.70 | 7.41 | 16.26 | 9.87 | 7.87 | 15.64 | 11.16 | 12.18 | 13.16 | 7.36 | 8.04 |
NORTHERN TECHNOLOGIES INTERNATIONAL CORP passes 1 of 9 quality checks, indicating weak fundamentals.
The company's 5-year average ROIC is 7.8% with a gross margin of 35.6%. Total shareholder yield (dividends) is 0.5%. At current prices, the estimated annualized return to fair value is -8.9%.
NORTHERN TECHNOLOGIES INTERNATIONAL CORP (NTIC) has a debt-to-equity ratio of 0.01. This indicates a conservatively financed balance sheet.
NORTHERN TECHNOLOGIES INTERNATIONAL CORP (NTIC) reported earnings per share (EPS) of $0.00 in its most recent fiscal year.
NORTHERN TECHNOLOGIES INTERNATIONAL CORP (NTIC) has a return on equity (ROE) of 0.0%. This indicates moderate shareholder returns.
NORTHERN TECHNOLOGIES INTERNATIONAL CORP (NTIC) has a 5-year average gross margin of 35.6%. This indicates decent pricing power.
The Ledger Terminal provides 15 years of financial data for NORTHERN TECHNOLOGIES INTERNATIONAL CORP (NTIC), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
NORTHERN TECHNOLOGIES INTERNATIONAL CORP (NTIC) has a book value per share of $7.61, based on its most recent annual SEC filing.
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