NXMEDIUM SIGNALFINANCIAL10-K

NX shows substantially improved operational performance following the Tyman acquisition integration, with meaningfully higher revenue and operating cash flow generation.

The company has successfully integrated its August 2024 Tyman acquisition, evidenced by expanded manufacturing footprint and substantially higher revenue base. However, the decline in stockholders' equity alongside reduced total assets suggests integration costs and potential asset restructuring are weighing on the balance sheet during this transition period.

Comparing 2025-12-12 vs 2024-12-16View on EDGAR →
FINANCIAL ANALYSIS

NX delivered substantially higher revenue and notably improved operating cash flow generation, reflecting successful integration of the Tyman acquisition. The company maintained operational discipline with proportional increases in SG&A expenses and capital expenditures to support the expanded business. However, the balance sheet shows signs of integration pressure with declining stockholders' equity, reduced debt levels, and lower total assets, suggesting ongoing restructuring activities following the major acquisition.

FINANCIAL STATEMENT CHANGES
Operating Cash Flow
Cash Flow
+85.7%
$88.8M$164.9M

Operating cash flow surged 85.7% — exceptional cash generation, highest quality earnings signal.

Capital Expenditure
Cash Flow
+68.9%
$37.1M$62.6M

Capital expenditure jumped 68.9% — major investment cycle underway; assess returns on deployment.

SG&A Expense
P&L
+45.6%
$190.5M$277.3M

SG&A up 45.6% — significant increase in sales or administrative costs, monitor impact on operating leverage.

Revenue
P&L
+43.8%
$1.3B$1.8B

Strong top-line growth of 43.8% — accelerating demand or successful expansion into new markets.

Stockholders Equity
Balance Sheet
-28.2%
$1.0B$726.2M

Equity decreased 28.2% — buybacks or losses reducing book value, monitor solvency ratios.

Total Debt
Balance Sheet
-26.9%
$195.0M$142.5M

Debt reduced 26.9% — deleveraging strengthens balance sheet and reduces financial risk.

Cash & Equivalents
Balance Sheet
-22.2%
$97.7M$76.0M

Cash decreased 22.2% — monitor burn rate and upcoming capital needs.

Total Assets
Balance Sheet
-15.2%
$2.3B$2.0B

Total assets contracted 15.2% — asset sales, write-downs, or balance sheet optimization underway.

LANGUAGE CHANGES
NEW — 2025-12-12
PRIOR — 2024-12-16
ADDED
At December 3, 2025 there were o utstanding 45,674,726 shares of the reg istrant s Common Stock, $0.01 par value.
We currently manufacture and distribute components for original equipment manufacturers (OEM) in the building products industry, including window, door, solar, refrigeration, custom mixing, building access, and cabinetry markets.
Most recently, on August 1, 2024, we completed our acquisition of Tyman plc, a company incorporated in England and Wales ( Tyman ).
As of October 31, 2025, we operated 34 manufacturing facilities located in 18 states in the U.S., 7 facilities in the U.K., 3 facilities in Mexico, 2 facilities in Italy, 1 facility in Germany, and 1 facility in Canada.
These facilities feature efficient plant design and flexible manufacturing processes, enabling us to produce a wide variety of custom engineered products and components.
Derived from reports published by Ducker, overall window shipments decreased 3.9%, new construction activity decreased 5.3%, and R R replacement decreased 2.6%, respectively, for the trailing twelve months ended September 30, 2025.
such as Energy Star have improved customer awareness of the technological advances in window and door energy-efficiency, but the government has been reluctant to enforce stricter energy standards; over the past several years, supply chain disruptions and inflationary pressures related to transportation, labor, and raw materials have increased and at times have caused delays in production and higher prices; foreign currency rates in the U.K.
and other European nations have changed significantly relative to the United States Dollar due in part fluctuations in interest rates, economic indicators, political instability, as well as other international unrest or uncertainties; ongoing uncertainty and turmoil related to U.S.
For our wood business, we believe we are the largest supplier to OEMs in the U.S., but we compete with other national and regional businesses, including OEMs who are vertically integrated.
Primary competitors in North America include, but are not limited to, Assa Abloy, FlexScreen, Hoppe, Interlock, Radisson Industries, RiteScreen, Roto, Screenco, ScreenFab, and Vision Hardware.
REMOVED
The aggregate market value of the voting and non-voting common equity held by non-affiliates as of April 30, 2024, computed by reference to the closing price for the Common Stock on the New York Stock Exchange, Inc.
At December 3, 2024 there were o utstanding 47,261,370 shares of the reg istrant s Common Stock, $0.01 par value.
We currently manufacture and distribute components for original equipment manufacturers (OEM) in the building products industry.
On August 1, 2024, we completed our acquisition of Tyman plc, a company incorporated in England and Wales.
As of October 31, 2024, we operated 35 manufacturing facilities located in 18 states in the U.S., seven facilities in the U.K., three facilities in Mexico, two facilities in Italy, one facility in Germany, and one facility in Canada.
These facilities feature efficient plant design and flexible manufacturing processes, enabling us to produce a wide variety of custom engineered products and components primarily focused on the window and door segment of the residential building products markets.
Derived from reports published by Ducker, the overall decrease in window shipments for the trailing twelve months ended September 30, 2024 was 0.7%.
During this period, new construction activity decreased 2.5% and R R replacement increased 1.1% respectively.
such as Energy Star have improved customer awareness of the technological advances in window and door energy-efficiency, but the government has been reluctant to enforce stricter energy standards; supply chain disruptions and inflationary pressures related to transportation, labor, and raw materials have increased causing delays in production and higher prices; foreign currency rates in the U.K.
We compete with a number of companies, some of which have greater financial resources than us.
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