Filing Flows › NLI Holdings (NL) › Q2 2026 › vs Q2 2025
NLI Holdings (NL) Q2 2026 vs Q2 2025 (year over year)
NLI Holdings's revenue rose $3.2M (+8%) from $40.4M in Q2 2025 to $43.6M in Q2 2026. The biggest changes: Security Products +$2.7M (+9%); Marine Components +$583K (+6%). Gross margin 35.6% against 31.9% (+3.7 pts).
NLI Holdings, Q2 2026: revenue $43.6M (+8% year over year), operating margin 14.1%, net earnings $9.0M, operating cash flow $11.0M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 35.6% | 31.9% | +3.7 pts |
| Operating margin | 14.1% | 6.9% | +7.1 pts |
| Net margin | 20.5% | 0.9% | +19.7 pts |
| Free cash flow margin | 22.6% | 14.7% | +7.9 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Security Products | $33.3M | $30.7M | $2.7M | +9% |
| Marine Components | $10.3M | $9.7M | $583K | +6% |
| Revenue | $43.6M | $40.4M | $3.2M | +8% |
| Gross profit | $15.5M | $12.9M | $2.6M | +21% |
| Cost of revenue | $28.1M | $27.5M | $602K | +2% |
| Other income, net | $6.2M | −$1.8M | $8.0M | — |
| Operating profit | $6.1M | $2.8M | $3.3M | +119% |
| Operating expenses | $9.4M | $10.1M | −$686K | -7% |
| Pre-tax earnings | $12.4M | $1.0M | $11.3M | 12× |
| SG&A | $6.6M | $6.6M | $45K | +0.7% |
| Other operating costs | $2.8M | $3.5M | −$731K | -21% |
| Net earnings | $9.0M | $355K | $8.6M | 25× |
| Minority interests | $937K | $699K | $238K | +34% |
| Income tax | $2.5M | −$43K | $2.5M | — |
| Depreciation & amortization | $857K | $923K | −$66K | -7% |
| Working capital & other | $1.2M | $6.0M | −$4.9M | -81% |
| Operating cash flow | $11.0M | $7.3M | $3.7M | +50% |
| Free cash flow (OCF − capex) | $9.8M | $5.9M | $3.9M | +66% |
| Capital expenditures | $1.1M | $1.3M | −$225K | -17% |
Questions
How much did NLI Holdings's revenue grow year over year in Q2 2026?
NLI Holdings's revenue rose $3.2M (+8%) from $40.4M in Q2 2025 to $43.6M in Q2 2026.
What drove NLI Holdings's revenue change in Q2 2026?
Security Products +$2.7M (+9%); Marine Components +$583K (+6%).