NLI Holdings

Security & Protection Services · Industrials

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Mixed

Growth

Mixed

Cash Flow

Weak

Stability

Exceptional

Valuation

Data not available

Dividends

Good

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Winston Score History

The full picture

NL Industries is a holding company based in Dallas, Texas. Its main business comes through its majority stake in CompX International, which makes security products like locks and cabinets used in medical equipment, recreational vehicles, and office furniture. CompX is one of the larger makers of specialty security components in North America.

NL Industries earns money through CompX's product sales to manufacturers in industries like healthcare, marine, and transportation. The company operates mostly in the United States and generates a few hundred million dollars in annual revenue. Its competitive position relies on long-standing customer relationships and specialized product designs that are not easy to copy quickly. The main risk is that NL's financial performance is closely tied to how well CompX does, and CompX depends heavily on demand from industrial customers, which tends to slow down when the broader economy weakens.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+8.0% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

>+1,000% YoY

YoY Growth Rate

Strong earnings growth

Insider Activity

83.1%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$337M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

NLI Holdings is growing revenue at 8% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

35.6%

Modest — 35.6% gross margin

Profit after running costs

Operating Margin

14.1%

Healthy — 14.1% operating margin

Return on the money invested

ROCE

4.0%

Weak — 4.0% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales growth

Sales YoY

+6.0%

Slow sales growth (+6.0% YoY)

Profit growth

EPS YoY

-147.5%

Earnings shrinking (-147.5% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

2.6%

Thin free cash flow (2.6%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

0.00

Conservative — low debt load (0.00)

Covers its interest

Interest Cover

117.28x

Comfortably covers interest (117.3x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

no trend

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend

Dividend Yield

6.21%

no trend

Healthy income — 6.21% yield

Yield above 6% — often a flag the market is pricing in a cut.

Dividend record

Dividend Growth

-18.7%

no trend

Dividend cut (-18.7% YoY) — warning sign

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