NL INDUSTRIES INC
NL · Industrial Inorganic Chemicals · 48.9M shares · +0%/yr ↑ dilution · EDGAR filings ↗
Reference price $6.93 · est. market cap ~$339M — last insider purchase, 2025-03-12 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D54Holding company (CompX + 31% Kronos stake) posting a net loss on cyclical TiO2 and pension charges, but cash-rich.
Strengths
- Very strong liquidity: current ratio 7.8 (91st pct), 12.5 quarters cash runway, profitable CompX segment (gross margin 87.5th pct)
- Net loss driven by one-off pension buy-out and equity-method Kronos losses, not operating distress
Risks
- Negative net margin (-24%), ROA (-8%) and ROE (-10.5%) — a clear loss year
- Earnings hostage to cyclical, China-pressured TiO2 market via minority Kronos stake
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Net lossNet loss (net margin -23.9%)
- Cash burnNegative free cash flow (-40.1M)
- Strong balance sheetStrong balance sheet — $125M cash & investments, ~12 quarters of runway
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
30.4%
Operating margin
6.7%
Net margin
-23.9%
Return on equity
-10.5%
Return on assets
-8.1%
Revenue growth (QoQ)
7.6%
Net-income growth
-156.3%
Current ratio
7.8×
Free cash flow
-$40M
EBITDA
$14M
Tangible book value
$332M
Cash & investments
$125M
Cash runway
12q
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-14 | Mendes Meredith W. | Grant | 6.0K | $6.67 |
| 2026-05-14 | Feehan Loretta J. | Grant | 6.0K | $6.67 |
| 2026-05-14 | Kramer Kevin B | Grant | 6.0K | $6.67 |
| 2026-05-14 | Harper John E | Grant | 6.0K | $6.67 |
| 2026-05-14 | MOORE CECIL H JR | Grant | 6.0K | $6.67 |
| 2026-05-14 | TURNER R GERALD DR | Grant | 6.0K | $6.67 |
| 2025-05-15 | Kramer Kevin B | Grant | 2.5K | $8.04 |
| 2025-05-15 | Mendes Meredith W. | Grant | 2.5K | $8.04 |
| 2025-05-15 | Harper John E | Grant | 2.5K | $8.04 |
| 2025-05-15 | TURNER R GERALD DR | Grant | 2.5K | $8.04 |
| 2025-05-15 | MOORE CECIL H JR | Grant | 2.5K | $8.04 |
| 2025-05-15 | Feehan Loretta J. | Grant | 2.5K | $8.04 |
| 2025-03-12 | Kramer Kevin B | Buy | 1.0K | $6.93 |
| 2025-03-12 | Kramer Kevin B | Buy | 1.0K | $7.07 |
| 2025-03-12 | Kramer Kevin B | Buy | 500 | $7.08 |
| 2025-03-12 | Kramer Kevin B | Buy | 470 | $7.14 |
| 2025-03-12 | Kramer Kevin B | Buy | 1.0K | $7.15 |
| 2025-03-12 | Kramer Kevin B | Buy | 100 | $7.18 |
| 2025-03-12 | Kramer Kevin B | Buy | 1.0K | $7.19 |
| 2025-03-12 | Kramer Kevin B | Buy | 9 | $7.21 |
| 2025-03-12 | Kramer Kevin B | Buy | 122 | $7.22 |
| 2025-03-12 | Kramer Kevin B | Buy | 113 | $7.23 |
| 2025-03-12 | Kramer Kevin B | Buy | 186 | $7.24 |
| 2025-03-12 | Kramer Kevin B | Buy | 188 | $7.33 |
| 2025-03-12 | Kramer Kevin B | Buy | 100 | $7.34 |
| 2025-03-12 | Kramer Kevin B | Buy | 588 | $7.36 |
| 2025-03-12 | Kramer Kevin B | Buy | 1 | $7.37 |
| 2025-03-12 | Kramer Kevin B | Buy | 10 | $7.40 |
| 2025-03-12 | Kramer Kevin B | Buy | 113 | $7.46 |
| 2025-03-11 | Hanley Bryan A. | Buy | 250 | $6.78 |
| 2025-03-11 | Kramer Kevin B | Buy | 1.0K | $6.32 |
| 2025-03-11 | Kramer Kevin B | Buy | 1.0K | $6.36 |
| 2025-03-11 | Kramer Kevin B | Buy | 1.0K | $6.47 |
| 2025-03-11 | Kramer Kevin B | Buy | 500 | $6.71 |
| 2025-03-11 | Kramer Kevin B | Buy | 1.0K | $6.76 |
| 2025-03-11 | Kramer Kevin B | Buy | 1.1K | $6.78 |
| 2025-03-11 | Kramer Kevin B | Buy | 420 | $6.79 |
| 2025-03-11 | Kramer Kevin B | Buy | 500 | $6.83 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-26 | Material agreementAcquisition/dispositionDebt obligation3.03Exec/director change5.03Exhibits | filing ↗ |
| 2026-05-14 | Shareholder voteReg FDExhibits | filing ↗ |
| 2026-05-06 | ResultsExhibits | filing ↗ |
| 2026-03-09 | ResultsExhibits | filing ↗ |
| 2026-02-26 | Reg FDExhibits | filing ↗ |
| 2025-11-06 | ResultsExhibits | filing ↗ |
| 2025-10-30 | Reg FDExhibits | filing ↗ |
| 2025-09-15 | Material agreementDebt obligationExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-26 | 2026-05-19 | 0000072162-26-000034 ↗ |
| 8-K | 2026-05-14 | 2026-05-14 | 0000072162-26-000028 ↗ |
| 10-Q | 2026-05-06 | 2026-03-31 | 0001104659-26-056285 ↗ |
| 8-K | 2026-05-06 | 2026-05-06 | 0000072162-26-000025 ↗ |
| 10-K | 2026-03-09 | 2025-12-31 | 0001104659-26-025290 ↗ |
| 8-K | 2026-03-09 | 2026-03-09 | 0000072162-26-000009 ↗ |
| 8-K | 2026-02-26 | 2026-02-26 | 0000072162-26-000003 ↗ |
| 8-K | 2025-11-06 | 2025-11-06 | 0000072162-25-000036 ↗ |
| 10-Q | 2025-11-06 | 2025-09-30 | 0001104659-25-107766 ↗ |
| 8-K | 2025-10-30 | 2025-10-30 | 0000072162-25-000033 ↗ |
| 8-K | 2025-09-15 | 2025-09-15 | 0000072162-25-000030 ↗ |
| 8-K | 2025-08-06 | 2025-08-06 | 0000072162-25-000026 ↗ |