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NLI Holdings, Inc. (NL) stock

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NYSE: NL NYSE Specialty Chemicals Next results ~November 5, 2026

C+ Fundamentals grade

NLI Holdings, Inc. is a US-listed company in the specialty chemicals industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$2.6

Cash-flow model

Base case. Range ~$2.4–$2.9 across our lower- and higher-growth cases (-1.9%–8.1% a year).

Price vs value

Overvalued

The price is above our entire value range; our base value is 62% below it.

Price used: $6.93, November 2, 2026

NLI Holdings, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Funds48 adding, 26 cuttingOf 13 active managers that changed their stake, 9 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter NLI Holdings files

Where NLI stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $162m, up 6.0% on a year earlier, slower than the 7.0% growth a quarter earlier. Free-cash-flow margin rose to 5.0% from -26.0% a year earlier. Operating margin narrowed to 9.2% from 27.3%. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 2 of our 2 financial-health checks. Our cash-flow model value is $2.62 a share, against a share price of $6.98.

Source: 10-Q filed August 5, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 5, 2026 (estimated)

NLI Holdings, Inc.'s trailing-twelve-month revenue grew 6.0% year on year, with a free-cash-flow margin of 5.0%.

Our discounted-cash-flow model values the business at ~$2.6 per share in the base case (~$2.4–$2.9 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Results well short of expectations: Reported earnings per share missed the analysts' consensus estimate by 95% in the quarter to 2025-03-31.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Net cash. Cash exceeds long-term debt by $0.1bn.

Things to watch

  • Results due soon. Results are expected around 5 November; the share price can move sharply on the day.
  • Priced above our value. The share price of $6.93 is 62% above our value per share of $3.
  • Margins narrowing. Operating margin is down 18.0 points on a year ago.
  • Volatile shares. Over the past year the shares showed annualised volatility of 53% and a beta of 0.4 against the S&P 500.

Latest results: FY2026 Q2

Filed August 5, 2026
Earnings per share
$0.01 against an average estimate of $0.20: missed by 95.1%
Revenue
$44m, up 8.0% on a year earlier
Share reaction
+7.9% in the first session after the results on August 5, 2026, against -0.4% for the S&P 500
Next report
November 5, 2026

NLI Holdings' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-2.5%
  • 1 week+4.2%
  • 1 month-0.7%
  • This year+33.0%
  • 1 year+22.3%
  • 5 years+70.1%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$162M
Operating margin
9.2%
Net margin
-15.8%
EPS (TTM, diluted)
$-0.52

Growth

Revenue growth
+6.0%
Change in growth rate
−1.0 pts
Share count change
+0.0%

Cash

Free cash flow (TTM)
$8.1M
FCF margin
5.0%

Earnings

Last results
August 5, 2026
Next results (est.)
November 5, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

NLI Holdings, Inc. valuation models and calculator

What the price is pricing in

The share price implies about 37.4% a year of cash-flow growth for five years.That is faster than the 2.8% a year revenue growth NLI Holdings has delivered.

Read with care: free cash flow has swung sharply in the past year (often a one-off tax, legal or working-capital item), so the cash-flow base behind this reading may be unusually low or high.

  • Priced in37.4%
  • Last 12 months6.0%
  • 3 years a year0.3%
  • 5 years a year2.8%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($6.97, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Sell12-month view
12-month price target
~$2.6
Price used
$6.97close November 3, 2026
Implied change
▼ 62%
Uncertainty
Low

How we got here: a discounted-cash-flow model of NLI Holdings, Inc.'s free cash flow after stock-based pay with after-tax interest added back ($2.3M, FY2026 Q2 TTM), growing 3.1% a year for five years and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$2.4–~$2.9 ; that spread sets a 15% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of NLI Holdings, Inc.'s free cash flow after stock-based pay ( $2.3M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value NLI Holdings, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 9%: the 10-year Treasury yield (4.9%) plus a beta of 0.9 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$2.6 ~$2.4–$2.9 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: no positive earnings in the latest twelve months
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$5.0 ~$3.6–$7.0 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$4.0 ~$3.5–$4.5 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$3.6 ~$2.6–$5.0 3 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare NLI Holdings, Inc. with Specialty Chemicals in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −16%
  • Revenue growth 5 points higher ▲ +22%
  • Free-cash-flow margin 1 point lower ▼ −13%
  • Discount rate 1 point higher ▼ −10%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $2$3$3$3$4$5
8.5% $2$2$3$3$3$4
10% $2$2$3$3$3$3

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$1.95$5.22$9.12$2.25$2.50$3.19$5.12$5.05$4.37$6.77$5.21$6.93
Market value$95m$254m$444m$109m$122m$156m$250m$247m$213m$331m$255m$339m
+ Net debt (− = net cash)−$96m−$93m−$98m−$116m−$130m−$137m−$147m−$69m−$112m−$163m−$111m−$107m
Enterprise value−$2m$161m$346m−$7m−$8m$19m$103m$178m$102m$167m$144m$232m
Multiples
Price / sales 0.9x2.3x4.0x0.9x1.0x1.4x1.8x1.5x1.3x2.3x1.6x2.1x
Price / earnings —16.6x3.8x—4.7x10.6x4.9x7.3x—4.9x——
Price / free cash flow 4.0x10.4x28.1x7.8x5.0x9.0x18.5x10.6x5.9x13.7x—41.8x
EV / EBITDA n/m52.6x63.7x—n/m3.0x7.2x10.0x5.6x4.0x10.1x12.5x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

42 /100

Weak moat

How hard NLI Holdings's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 2 / 20

    Cash operating profit has been a median 3.2% of total assets over 10 years.

  • Pricing power 11 / 20

    Gross margin has been a median 30.7%, moving by 1.4 percentage points (standard deviation) across 10 years.

  • Durability 1 / 20

    Operating margin has been a median 6.9%; its worst year was -55.3%.

  • Cash conversion 17 / 20

    Free cash flow was positive in 9 of 10 years, at a median 15.7% of revenue.

  • Discipline 12 / 20

    The diluted share count rose 0.2% over five years.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 5, 2026, after the close.

Analysts' consensus

No analyst estimates are published for NLI Holdings, Inc.: too few analysts cover it.

Earnings against estimates

Quarter toEstimateActualSurprise
Mar 2025 $0.20 $0.01 −95.1%
Dec 2024 $0.21 $0.34 +60.4%
Sept 2024 $0.23 $0.74 +223.1%
Jun 2024 $0.13 $0.16 +21.2%

Adjusted EPS as companies report it, against the average analyst estimate.

Positioning

Short interest
1.4%
of tradable shares
Days to cover
5.77
at average volume
Short interest, 1 month
−23%
to October 15, 2026
Held by institutions
13%
of shares
Held by insiders
83.0%
of shares
Employees
2,812
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +22.3%

$5.67 on October 31, 2025 to $6.93

ThenNowEffect
Revenue (last 12 months) $153m $162m +6.0%
P/S multiple 1.8x 2.1x +15.4%
Share count 49m 49m 0.0%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years +91.5%

$3.62 on November 3, 2023 to $6.93

ThenNowEffect
Revenue (last 12 months) $161m $162m +0.8%
P/S multiple 1.1x 2.1x +90.2%
Share count 49m 49m −0.1%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
NL+60%−1%−14%+55%−23%+33%
Industry peers (median)+17%−26%−8%+6%−13%+5%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
NL58%42%67%58%25%64%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
NL−30%−37%−37%−37%−39%−33%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 85% from November 30, 2017 to March 20, 2020. Getting back needed a 554% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$4.89 – $8.25
From 52-week high
−16.0%
vs 50-day average
+1.5%
vs 200-day average
+12.7%
Volatility (1 year)
53%
Beta vs S&P 500
0.38

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
7 up, 5 down
typical move ±3.9%
After a week
6 up, 6 down
typical move ±10.6%
After a month
8 up, 4 down
typical move ±15.7%
Results releasedNext dayS&P 500 next day5 days21 days
August 5, 2026 +7.9% −0.4% +15.1% +20.4%
May 6, 2026 +2.6% +1.1% 0.0% +4.5%
March 9, 2026 −1.4% +0.7% −2.7% −1.5%
November 6, 2025 −0.2% −1.0% −6.3% −6.2%
August 6, 2025 +2.3% +0.7% +10.1% +12.0%
May 7, 2025 −3.7% +1.1% −9.4% −19.6%
March 6, 2025 +9.4% −1.2% +12.4% +10.1%
November 6, 2024 −0.8% +3.3% −1.5% +2.7%
August 7, 2024 +9.9% +1.6% +16.3% +20.6%
May 8, 2024 −2.9% +0.6% −23.6% −20.6%
March 6, 2024 +4.8% +1.5% +25.4% +57.8%
November 2, 2023 +0.6% +2.8% +4.1% +12.6%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

NLI Holdings, Inc. in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) NLI Holdings, Inc.
$145M $150M $155M $160M $165M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $158.1M Revenue (TTM), FY23 Q4: $161.3M Revenue (TTM), FY24 Q1: $158.1M Revenue (TTM), FY24 Q2: $157.4M Revenue (TTM), FY24 Q3: $150.7M Revenue (TTM), FY24 Q4: $145.9M Revenue (TTM), FY25 Q1: $148.2M Revenue (TTM), FY25 Q2: $152.7M Revenue (TTM), FY25 Q3: $159M Revenue (TTM), FY25 Q4: $158.3M Revenue (TTM), FY26 Q1: $158.6M Revenue (TTM), FY26 Q2: $161.8M $161.8M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $158.1M
FY23 Q4 $161.3M
FY24 Q1 $158.1M
FY24 Q2 $157.4M
FY24 Q3 $150.7M
FY24 Q4 $145.9M
FY25 Q1 $148.2M
FY25 Q2 $152.7M
FY25 Q3 $159M
FY25 Q4 $158.3M
FY26 Q1 $158.6M
FY26 Q2 $161.8M
Revenue growth, TTM YoY NLI Holdings, Inc.
-10% -5% 0% 5% 10% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: -1.6% Revenue growth, TTM YoY, FY23 Q4: -3.2% Revenue growth, TTM YoY, FY24 Q1: -4.6% Revenue growth, TTM YoY, FY24 Q2: -2.0% Revenue growth, TTM YoY, FY24 Q3: -4.7% Revenue growth, TTM YoY, FY24 Q4: -9.5% Revenue growth, TTM YoY, FY25 Q1: -6.2% Revenue growth, TTM YoY, FY25 Q2: -3.0% Revenue growth, TTM YoY, FY25 Q3: 5.5% Revenue growth, TTM YoY, FY25 Q4: 8.5% Revenue growth, TTM YoY, FY26 Q1: 7.0% Revenue growth, TTM YoY, FY26 Q2: 6.0% 6.0%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 -1.6%
FY23 Q4 -3.2%
FY24 Q1 -4.6%
FY24 Q2 -2.0%
FY24 Q3 -4.7%
FY24 Q4 -9.5%
FY25 Q1 -6.2%
FY25 Q2 -3.0%
FY25 Q3 5.5%
FY25 Q4 8.5%
FY26 Q1 7.0%
FY26 Q2 6.0%
Operating margin (TTM) NLI Holdings, Inc.
0% 10% 20% 30% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 7.4% Operating margin (TTM), FY23 Q4: 8.8% Operating margin (TTM), FY24 Q1: 7.1% Operating margin (TTM), FY24 Q2: 6.8% Operating margin (TTM), FY24 Q3: 6.0% Operating margin (TTM), FY24 Q4: 26.0% Operating margin (TTM), FY25 Q1: 26.8% Operating margin (TTM), FY25 Q2: 27.3% Operating margin (TTM), FY25 Q3: 26.1% Operating margin (TTM), FY25 Q4: 6.7% Operating margin (TTM), FY26 Q1: 7.3% Operating margin (TTM), FY26 Q2: 9.2% 9.2%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 7.4%
FY23 Q4 8.8%
FY24 Q1 7.1%
FY24 Q2 6.8%
FY24 Q3 6.0%
FY24 Q4 26.0%
FY25 Q1 26.8%
FY25 Q2 27.3%
FY25 Q3 26.1%
FY25 Q4 6.7%
FY26 Q1 7.3%
FY26 Q2 9.2%
FCF margin (TTM) NLI Holdings, Inc.
-40% -20% 0% 20% 40% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 18.0% FCF margin (TTM), FY23 Q4: 22.2% FCF margin (TTM), FY24 Q1: 22.3% FCF margin (TTM), FY24 Q2: 23.5% FCF margin (TTM), FY24 Q3: 24.1% FCF margin (TTM), FY24 Q4: 16.5% FCF margin (TTM), FY25 Q1: -20.6% FCF margin (TTM), FY25 Q2: -26.0% FCF margin (TTM), FY25 Q3: -16.8% FCF margin (TTM), FY25 Q4: -25.4% FCF margin (TTM), FY26 Q1: 2.6% FCF margin (TTM), FY26 Q2: 5.0% 5.0%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 18.0%
FY23 Q4 22.2%
FY24 Q1 22.3%
FY24 Q2 23.5%
FY24 Q3 24.1%
FY24 Q4 16.5%
FY25 Q1 -20.6%
FY25 Q2 -26.0%
FY25 Q3 -16.8%
FY25 Q4 -25.4%
FY26 Q1 2.6%
FY26 Q2 5.0%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 116 76 80 83 92 104 109 109 112 118 124 115 141 167 161 146 158 162
Gross profit 24 22 24 24 28 32 33 35 35 38 39 33 43 49 49 41 48 52
EBITDA −3 −10 6 −2 −65 6 4 3 5 −57 2 6 14 18 18 42 14 18
Operating income −12 −18 −1 −8 −68 3 0 −1 2 −61 −2 2 10 14 14 38 11 15
Net income −12 70 82 75 −55 28 −24 15 116 −41 26 15 51 34 −2 67 −38 −26
Diluted EPS −$0.24 $1.40 $1.68 $1.53 −$1.14 $0.59 −$0.49 $0.31 $2.38 −$0.84 $0.53 $0.30 $1.05 $0.69 −$0.05 $1.38 −$0.77 −$0.52
Growth (year on year)
Revenue — −34.4% +4.8% +4.2% +10.6% +12.8% +5.0% −0.1% +2.9% +5.5% +5.1% −7.8% +22.9% +18.3% −3.2% −9.5% +8.5% +6.0%
EBITDA — — — −136.2% — — −39.8% −21.1% +77.6% <−999% — — +131.7% +23.6% +2.2% +129.6% −65.5% −59.3%
Operating income — — — — — — −90.6% — — — — — +345.1% +30.9% +2.9% +168.1% −71.8% −64.1%
Net income — — +16.0% −8.7% −174.2% — −183.9% — +657.6% −135.3% — −43.2% +248.7% −33.9% −106.8% — −156.3% −147.7%
Diluted EPS — — +20.0% −8.9% −174.5% — −183.1% — +667.7% −135.3% — −43.4% +250.0% −34.3% −107.2% — −155.8% −147.7%
Margins
Gross margin 20.5% 29.5% 30.2% 29.2% 30.0% 31.1% 30.6% 32.3% 31.1% 32.4% 31.4% 28.7% 30.4% 29.3% 30.5% 28.3% 30.4% 32.1%
EBITDA margin −2.8% −13.1% 7.7% −2.7% −70.5% 6.2% 3.6% 2.8% 4.8% −48.4% 1.7% 5.4% 10.2% 10.6% 11.2% 28.5% 9.1% 11.4%
Operating margin −10.0% −23.3% −0.8% −9.7% −74.2% 2.7% 0.2% −0.7% 1.5% −51.3% −1.3% 2.1% 7.5% 8.2% 8.8% 26.0% 6.7% 9.2%
Net margin −10.1% 92.4% 102.3% 89.6% −60.1% 27.4% −21.9% 14.1% 103.6% −34.7% 20.8% 12.8% 36.4% 20.3% −1.4% 46.1% −23.9% −15.8%
Free-cash-flow margin −0.8% 4.3% 56.3% 16.1% 12.3% 19.9% 21.8% 22.5% 14.1% 11.8% 19.5% 15.1% 9.6% 14.0% 22.2% 16.5% −25.4% 5.0%
Cash flow
Cash from operations 1 5 48 18 15 24 28 28 19 17 27 19 18 27 37 26 −36 11
Capital spending 2 2 3 5 4 3 4 3 3 3 3 2 4 4 1 1 4 3
Free cash flow −1 3 45 13 11 21 24 24 16 14 24 17 14 23 36 24 −40 8
Balance sheet
Cash 25 15 12 −78 53 73 96 93 98 116 130 137 147 69 112 163 111 107
Total debt 0 75 37 18 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Net debt (negative = net cash) −25 59 26 96 −53 −73 −96 −93 −98 −116 −130 −137 −147 −69 −112 −163 −111 −107
Diluted shares — 49m 49m 49m 49m 49m 49m 49m 49m 49m 49m 49m 49m 49m 49m 49m 49m 49m
Returned to shareholders
Dividends 24 24 24 24 24 — — — 0 0 0 8 12 14 14 16 18 19
Total returned 24 24 24 24 24 — — — 0 0 0 8 12 14 14 16 18 19

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 2 checks passed · June 30, 2026
What it owns · $471m
Short-term assets $164mLonger-term assets $307m
What it owes, and who funded it · $381m
Short-term liabilities $18mShareholders' equity $363m
  • Short-term assets cover short-term liabilities $164m of assets due within a year against $18m of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Operating income of $15m against $123,000 of interest.

From NLI Holdings, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Dividends (TTM)
$18.6M
Returned to shareholders
229%
of free cash flow
Diluted share count
+0.0%
year over year
Total shareholder yield
5.5%
dividends 5.5% + buybacks 0.0% of market value
Sales & admin spending
15.8%
of revenue

Competitors: side by side with peers

Closest by revenue in specialty chemicals
Last 12 months unless stated NL GEVO ARQ AMTX NTIC FTK Median
Revenue, last 12 months $162m $178m $123m $220m $92m $293m $906m
Revenue growth, last 12 months 6.0% 121.4% 4.9% −1.7% 7.7% 36.8% 5.4%
Revenue growth, 3-year average 0.3% 168.7% 9.9% 5.8% 5.0% 15.0% 0.9%
Revenue growth, latest quarter 8.0% 7.1% 4.5% 20.0% 12.6% 70.3% 8.3%
Gross margin 32.1% <−999% 28.8% 10.9% 35.8% 24.7% 28.8%
Operating margin 9.2% −102.8% −43.0% −5.3% 3.0% 12.8% 4.3%
Operating margin, 3-year average 14.4% −222.2% −15.2% −13.1% 5.8% 8.4% 5.5%
Net margin −15.8% −119.9% −42.6% −27.4% −1.3% 13.0% 0.8%
Cash from operations / revenue 6.9% −9.2% −0.1% −1.6% −2.3% −0.8% 6.9%
Free-cash-flow margin 5.0% −31.9% −4.1% −17.9% −3.5% −1.6% 4.3%
Free-cash-flow margin, 3-year average 0.8% −239.6% −30.7% −14.3% 1.9% −1.6% 5.1%
Stock pay / revenue — 5.5% 3.1% 2.3% 1.4% 1.1% 1.0%
Change in share count 0.0% 2.8% 5.8% 28.8% −2.4% 17.5% 0.1%

Median of all 42 companies we cover in specialty chemicals. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

42 specialty chemicals companies
Measure Company Peer median Rank
Revenue growth Growth 6.0% 6.0% 20 of 42
Change in growth rate Growth -1.0pp +1.3pp 31 of 42
Gross margin Profitability 32.1% 31.5% 17 of 40
Operating margin Profitability 9.2% 3.8% 13 of 39
Net margin Profitability -15.8% 1.7% 27 of 42
Free-cash-flow margin Cash generation 5.0% 4.8% 20 of 42
Change in share count Balance sheet 0.0% 0.0% 19 of 37

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue YoY
Single Reportable $158M ▲ 8.5%
Point of Destination $158M ▲ 8.5%
Security Products $121M ▲ 4.7%
Marine Components $37.6M ▲ 22.4%

These categories overlap or exclude eliminations, so shares aren't shown.

From NLI Holdings, Inc.'s 10-K filed March 9, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$32.9M
Institutions reporting
80
Shares held vs prior quarter
▲ 3.3%
Positions opened / closed
15 / 9

Top buyers and sellers, Q2 2026: 48 institutions bought and 26 sold ; the biggest buyer was Millennium Management LLC (+238K shares) and the biggest seller Aristides Capital LLC (−104K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Dimensional Fund Advisors LP $12.2M 2.1M 37.2% ▼ 1.5%
Blackrock, Inc. $3.2M 540K 9.8% ▲ 2.0%
Vanguard Capital Management LLC $1.9M 325K 5.9% ▲ 1.2%
Aristides Capital LLC $1.9M 313K 5.7% ▼ 25.0%
Bridgeway Capital Management, LLC $1.9M 311K 5.6% ▼ 4.6%
Millennium Management LLC $1.5M 258K 4.7% ▲ 1170.2%
Geode Capital Management, LLC $1.3M 217K 3.9% ▼ 3.2%
Empowered Funds, LLC $1.3M 217K 3.9% ▼ 6.5%
Renaissance Technologies LLC $1.1M 183K 3.3% ▲ 12.5%
State Street Corp $795,973 134K 2.4% 0.0%
Segall Bryant & Hamill, LLC $554,594 93K 1.7% 0.0%
Northern Trust Corp $505,589 85K 1.5% ▲ 3.5%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not NLI Holdings, Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $0 net buying

No open-market insider trades reported in the last 12 months.

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around November 5, 2026 estimated from the company's past filing pattern, not announced

  • August 5, 2026
  • May 6, 2026
  • March 9, 2026
  • November 6, 2025
  • August 6, 2025
  • May 7, 2025

Recent SEC filings

Data status

When each part of this page on NLI Holdings, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

NLI Holdings, Inc. in brief

What does NLI Holdings, Inc. do?
NLI Holdings, Inc. is a US-listed company in the specialty chemicals industry. Its financial year ends in December.
What is NLI Holdings, Inc.'s stock ticker?
NLI Holdings, Inc. trades under the ticker NL on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is NLI Holdings, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, NLI Holdings, Inc. reported revenue of $162M, 6.0% higher than a year earlier, according to its SEC filings.
What is NLI Holdings, Inc.'s free cash flow?
NLI Holdings, Inc.'s free-cash-flow margin is 5.0% of revenue over the trailing twelve months, ranking 20 of the 42 specialty chemicals companies we cover.
What is NLI Holdings, Inc.'s fair value (intrinsic value) per share?
Our discounted-cash-flow model of NLI Holdings, Inc.'s free cash flow after stock-based pay gives ~$2.6 per share in the base case, and ~$2.4–$2.9 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are NLI Holdings, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Dimensional Fund Advisors LP, Blackrock, Inc. and Vanguard Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is NLI Holdings, Inc.'s market cap?
On November 2, 2026, NLI Holdings, Inc.'s market capitalisation was about $339M and net debt of -$107M. Market figures come from third-party market data and may be delayed.
Does NLI Holdings, Inc. pay a dividend?
Yes: NLI Holdings, Inc. paid $18.6M in dividends over the trailing twelve months, a dividend yield of 5.49%.
Who are NLI Holdings, Inc.'s competitors?
In our Specialty Chemicals peer group, the companies closest to NLI Holdings, Inc. are Gevo, Inc., Arq, Inc., Aemetis, Inc, Northern Technologies International Corp and Flotek Industries Inc. The side-by-side comparison below sets their revenue, margins and growth against NLI Holdings, Inc.'s.
When is NLI Holdings, Inc.'s next earnings date?
Around November 5, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — NLI Holdings, Inc. announces its own schedule.