Filing Flows › NLI Holdings (NL) › Q3 2026 › vs Q3 2025
NLI Holdings (NL) Q3 2026 vs Q3 2025 (year over year)
NLI Holdings's revenue rose $4.0M (+10%) from $40.0M in Q3 2025 to $44.0M in Q3 2026. The biggest changes: Marine Components +$2.6M (+27%); Security Products +$1.4M (+5%). Gross margin 29.6% against 27.6% (+2.0 pts).
NLI Holdings, Q3 2026: revenue $44.0M (+10% year over year), operating margin 7.1%, net earnings $12.7M, operating cash flow $10.0M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Gross margin | 29.6% | 27.6% | +2.0 pts |
| Operating margin | 7.1% | 4.6% | +2.5 pts |
| Net margin | 29.0% | -19.7% | +48.7 pts |
| Free cash flow margin | 19.2% | 17.4% | +1.8 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Security Products | $31.7M | $30.3M | $1.4M | +5% |
| Marine Components | $12.3M | $9.7M | $2.6M | +27% |
| Revenue | $44.0M | $40.0M | $4.0M | +10% |
| Gross profit | $13.0M | $11.0M | $2.0M | +18% |
| Cost of revenue | $31.0M | $28.9M | $2.0M | +7% |
| Other income, net | $12.8M | −$10.1M | $22.9M | — |
| Operating profit | $3.1M | $1.9M | $1.3M | +70% |
| Operating expenses | $9.9M | $9.2M | $707K | +8% |
| Pre-tax earnings | $15.9M | −$8.2M | $24.2M | — |
| SG&A | $6.6M | $6.3M | $370K | +6% |
| Other operating costs | $3.2M | $2.9M | $337K | +12% |
| Net earnings | $12.7M | −$7.9M | $20.6M | — |
| Minority interests | $691K | $503K | $188K | +37% |
| Income tax | $2.5M | −$854K | $3.4M | — |
| Depreciation & amortization | $869K | $896K | −$27K | -3% |
| Working capital & other | $3.6M | −$14.9M | $18.5M | — |
| Operating cash flow | $10.0M | $7.9M | $2.1M | +26% |
| Free cash flow (OCF − capex) | $8.4M | $7.0M | $1.5M | +22% |
| Capital expenditures | $1.6M | $983K | $568K | +58% |
Questions
How much did NLI Holdings's revenue grow year over year in Q3 2026?
NLI Holdings's revenue rose $4.0M (+10%) from $40.0M in Q3 2025 to $44.0M in Q3 2026.
What drove NLI Holdings's revenue change in Q3 2026?
Marine Components +$2.6M (+27%); Security Products +$1.4M (+5%).