Enpro Inc.
Business
Enpro Inc. is an industrial technology company that designs, develops, manufactures and markets proprietary, value‑added products and solutions for critical applications across diverse end markets. It offers sealing products, dynamic and compression packing, hygienic process components, sensing and analyzer technologies, optical filters and thin‑film coatings, semiconductor cleaning and refurbishment services, electrostatic chuck pedestals, and commercial vehicle wheel‑end and suspension solutions. The company operates through two reportable segments: Sealing Technologies and Advanced Surface Technologies. Enpro serves global markets via OEMs, distributors, engineering firms and direct end‑user channels across North America, Europe, Asia Pacific and other regions.
Summary from filing dated 2025-02-21
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Net sales | 1,143 | 1,049 | 1,059 | 1,099 | 840 | |
| Cost of sales | 656 | 604 | 633 | 676 | 512 | |
| Gross profit | 488 | 445 | 427 | 423 | 328 | |
| Selling, general and administrative | 323 | 296 | 284 | 283 | 260 | |
| Goodwill impairment | 0 | 0 | 61 | 65 | 0 | |
| Other | 3 | 6 | 5 | — | — | |
| Total operating expenses | 326 | 303 | 350 | 351 | 263 | |
| Operating income | 162 | 142 | 77 | 72 | 65 | |
| Interest expense | −34 | −41 | −45 | −36 | — | |
| Interest income | 6 | 6 | 15 | 2 | 3 | |
| Loss on pension settlement | −67 | 0 | 0 | — | — | |
| Other expense, net | −9 | −13 | −9 | −10 | 14 | |
| Income from continuing operations before income taxes | 58 | 94 | 38 | 28 | 66 | |
| Income tax expense | −17 | −22 | −31 | −24 | −9 | |
| Income from continuing operations | 41 | 73 | 7 | 4 | 57 | |
| Income from discontinued operations, including gain on sale, net of taxes | 0 | 0 | 11 | 198 | 121 | |
| Net income | 41 | 73 | 18 | 202 | 178 | |
| Less: net loss attributable to redeemable non-controlling interests | 0 | 0 | −4 | −3 | 400,000 | |
| Net income | 41 | 73 | 22 | 205 | 178 | |
| Income from continuing operations, net of tax | 41 | 73 | 11 | 7 | 57 | |
| Income from discontinued operations, net of tax | 0 | 0 | 11 | 198 | 121 | |
| Continuing operations (in dollars per share) | 1.92 | 3.48 | 0.52 | 0.32 | 2.76 | |
| Discontinued operations (in dollars per share) | 0 | 0 | 0.54 | 9.54 | 5.88 | |
| Net income per share (in dollars per share) | 1.92 | 3.48 | 1.06 | 9.86 | 8.64 | |
| Continuing operations (in dollars per share) | 1.91 | 3.45 | 0.51 | 0.32 | 2.74 | |
| Discontinued operations (in dollars per share) | 0 | 0 | 0.54 | 9.51 | 5.83 | |
| Net income per share (in dollars per share) | 1.91 | 3.45 | 1.05 | 9.83 | 8.57 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 115 | 236 | 370 | 334 | 338 | |
| Accounts receivable, less allowance for doubtful accounts of $2.0 in 2025 and of $1.0 in 2024 | 134 | 116 | 117 | 137 | 145 | |
| Inventories | 154 | 139 | 143 | 152 | 136 | |
| Prepaid expenses and other current assets | 35 | 21 | 21 | 45 | 36 | |
| Total current assets | 438 | 512 | 650 | 684 | 805 | |
| Property, plant and equipment, net | 222 | 193 | 194 | 185 | 184 | |
| Goodwill | 1,065 | 896 | 808 | 864 | 948 | |
| Other intangible assets, net | 824 | 790 | 734 | 800 | 894 | |
| Other assets | 116 | 100 | 114 | 115 | 143 | |
| Total assets | 2,663 | 2,492 | 2,500 | 2,648 | 2,975 | |
| Current maturities of long-term debt | 200,000 | 16 | 8 | 16 | 13 | |
| Accounts payable | 72 | 66 | 69 | 73 | 72 | |
| Accrued expenses | 117 | 116 | 120 | 120 | 117 | |
| Total current liabilities | 189 | 198 | 196 | 212 | 386 | |
| Long-term debt | 655 | 624 | 639 | 775 | 964 | |
| Deferred income taxes | 143 | 127 | 121 | — | — | |
| Other liabilities | 132 | 114 | 116 | 112 | 138 | |
| Total liabilities | 1,119 | 1,063 | 1,072 | 1,235 | 1,654 | |
| Commitments and contingent liabilities | — | — | — | — | — | |
| Common stock $.01 par value; 100,000,000 shares authorized; issued 21,240,597 shares at December 31, 2025 and 21,185,581 shares at December 31, 2024 | 200,000 | 200,000 | 200,000 | 200,000 | 200,000 | |
| Additional paid-in capital | 333 | 319 | 305 | 299 | 304 | |
| Retained earnings | 1,190 | 1,176 | 1,128 | 1,130 | 953 | |
| Accumulated other comprehensive income (loss) | 22 | −65 | −22 | −33 | 15 | |
| Common stock held in treasury, at cost 174,546 shares at December 31, 2025 and 176,684 shares at December 31, 2024 | −1 | −1 | −1 | −1 | −1 | |
| Total shareholders equity | 1,544 | 1,429 | 1,410 | 1,395 | 1,270 | |
| Total liabilities and equity | 2,663 | 2,492 | 2,500 | 2,648 | 2,975 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Taxes related to sale of discontinued operations | 0 | 0 | −3 | −26 | 0 | |
| Depreciation | 25 | 24 | 25 | 26 | 18 | |
| Amortization | 78 | 76 | 70 | 78 | 46 | |
| Deferred income taxes | −15 | −18 | −8 | −14 | −6 | |
| Stock-based compensation | 14 | 12 | 10 | 7 | 5 | |
| Other non-cash adjustments | 4 | 14 | 5 | 7 | 2 | |
| Accounts receivable, net | −5 | 2 | 22 | −100,000 | −17 | |
| Inventories | 6 | 6 | 10 | −18 | −5 | |
| Accounts payable | −4 | −5 | −5 | 2 | 10 | |
| Income taxes, net | −10 | 2 | 24 | −15 | 18 | |
| Other current assets and liabilities | −6 | −8 | −6 | −23 | 14 | |
| Other non-current assets and liabilities | 8 | −15 | −2 | 14 | 400,000 | |
| Net cash provided by operating activities of continuing operations | 201 | 163 | 208 | 106 | 124 | |
| Purchases of property, plant and equipment | −42 | −29 | −34 | −29 | −15 | |
| Payments for capitalized internal-use software | −6 | −4 | −400,000 | −400,000 | — | |
| Proceeds from sale of businesses | 8 | 0 | 26 | 302 | 224 | |
| Payments for acquisitions, net of cash acquired | −274 | −209 | 0 | 3 | −857 | |
| Purchase of short-term investments | −3 | 0 | −36 | 0 | 0 | |
| Redemption of short-term investments | 0 | 0 | 36 | 0 | 0 | |
| Other | 1 | 800,000 | 1 | 300,000 | 0 | |
| Net cash used in investing activities of continuing operations | −317 | −242 | −7 | — | — | |
| Proceeds from debt | 930 | 53 | 0 | 61 | 715 | |
| Repayments of debt, including premiums to par value | −912 | −61 | −145 | −398 | −79 | |
| Acquisition of non-controlling interests of Enpro subsidiaries | 0 | −18 | 0 | −34 | — | |
| Debt issuance costs | −8 | 0 | 0 | — | — | |
| Dividends paid | −26 | −25 | −24 | −23 | −22 | |
| Other | −2 | 1 | −2 | −8 | −5 | |
| Net cash used in financing activities of continuing operations | −17 | −51 | −171 | −402 | 618 | |
| Operating cash flows | 0 | 0 | −600,000 | 21 | 18 | |
| Net cash used in discontinued operations | 0 | 0 | −600,000 | 16 | 14 | |
| Effect of exchange rate changes on cash and cash equivalents | 12 | −4 | 6 | −27 | −400,000 | |
| Net increase (decrease) in cash and cash equivalents | −122 | −134 | 35 | −4 | 109 | |
| Interest | 34 | 39 | 43 | 32 | 15 | |
| Income taxes, net of refunds received | 41 | 36 | 17 | 81 | 6 |