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NN

NNBR on Nasdaq. NN, Inc. sells parts and assemblies to car, industrial, and medical companies. Market value $350m.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.

Should I look at this?

Not a fit for our list right now

Why it could be worth it

What to watch out for

See Industrials stocks that passed both tests

This is not advice. Check the numbers below.

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Cash yield
past 12 months to June 2026
2.3%low

For every $100 of what the whole company costs, it produced $2.31 of spare cash in the past 12 months. A savings account pays about $4.

Price to profit
past 12 months to June 2026
n/a

The filings do not give us enough to work this out.

Return on capital
five annual reports to December 2025
-6.7%five-year median

Each dollar kept in the business earns -7 cents a year. Above 10 is good.

Quality score: 4 of 100. Price score: 12 of 100. Our list needs 70 on quality and 60 on price.

$4.04 a share, 267% above its 1-year low

Over the past year the price has ranged from $1.10 to $4.79.

Pays no dividend

Prices from Tuesday’s close (6 October).

Five years of cash, in billions

-0.0
-0.0
0.0
-0.0
-0.0
0.0
2021202220232024202512 monthsto Jun '26

Spare cash swings from quarter to quarter here: $8 million in the past 12 months, a shortfall of $7 million in the year to December 2025.

Revenue
$478m$499m$489m$464m$422m
Operating margin
-1.9%-4.2%-4.5%-5.9%-4.5%
Debt to equity
n/a0.881.232.124.94
Shares outstanding
0.04bn0.05bn0.05bn0.05bn0.08bn

Health checks

  • Free cash flow positive1 of 5 years
  • Accounting looks honest (Beneish)Nothing unusual
  • Financial strength (Piotroski)2 of 9
  • Profit backed by cash (accruals)Yes
  • Debt4.94× equity
  • Revenue growth, five yearsShrinking, 0.3% a year
  • Buying back its own sharesNo, 88% more shares since 2021

The quarter to June 2026

How the business did, compared with the same quarter a year earlier.

  • Sales: $129 million last quarter, up 19% on a year ago.
  • A loss of $2 million, compared with a loss of $8 million a year ago.
  • It loses 3 cents on each $1 of sales, compared with 6 cents a year earlier.
  • Spare cash over the past 12 months: $8 million. A year earlier it spent $9 million more than it brought in.
  • 2% more shares than a year ago. Each share owns a bit less of the company.
  • Debt is $158 million more than cash, up from $150 million a year ago.
  • Sales grew on a year ago in 2 of the last 4 quarters.
Sales by quarter
Sales by quarter
Quarter toAmount
September 2024$114m
December 2024$107m
March 2025$106m
June 2025$108m
September 2025$104m
December 2025$105m
March 2026$118m
June 2026$129m
Profit by quarter
Profit by quarter
Quarter toAmount
September 2024-$3m
December 2024-$21m
March 2025-$7m
June 2025-$8m
September 2025-$7m
December 2025-$13m
March 2026-$7m
June 2026-$2m

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
n/a
Last annual report (10-K)
4 March 2026
Next quarterly (estimated, 10-Q)
4 November 2026

Who owns it

2 long-term investors we follow own it, up from 1 last quarter. 87 funds in all.

Jun '25
Dec '25
Jun '26
Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

9 investors own more than 5%.

  • Eric Soderlund
    Passive investor
    12.4%
    Since 14 January 2025
    What they said

    The Reporting Persons originally acquired the Shares for investment purposes. The Reporting Persons have had discussions with certain representatives of the Issuer and management of the Issuer. The Reporting Persons intend to review their investment in the Issuer on a continuing…

    Read the filing
  • John Barrett
    Passive investor
    11.0%
    Since 17 April 2026
    What they said

    The Reporting Persons originally acquired the Shares for investment purposes. The Reporting Persons have had discussions with certain representatives of the Issuer and management of the Issuer. The Reporting Persons intend to review their investment in the Issuer on a continuing…

    Read the filing
  • John Barrett
    Passive investor
    10.0%−2.4 pts
    Since 23 April 2026
    What they said

    The Reporting Persons originally acquired the Shares for investment purposes. The Reporting Persons have had discussions with certain representatives of the Issuer and management of the Issuer. The Reporting Persons intend to review their investment in the Issuer on a continuing…

    Read the filing
  • Orin Hirschman
    Passive investor
    at least 9.7%
    (filed with 1 related holder)
    Since 30 June 2026
  • Morgan Stanley
    Passive investor
    at least 6.7%
    (filed with 5 related holders)
    Since 5 August 2026
  • First Manhattan Co.
    Passive investor
    at least 5.5%
    (filed with 2 related holders)
    Since 30 September 2025
  • at least 4.1%−1.5 pts
    (filed with 7 related holders)
    Since 14 August 2026
  • at least 4.0%−4.2 pts
    (filed with 3 related holders)
    Since 29 June 2026
    What they said

    The Reporting Persons originally acquired the Shares for investment purposes. The Reporting Persons have had discussions with certain representatives of the Issuer and management of the Issuer. The Reporting Persons intend to review their investment in the Issuer on a continuing…

    Read the filing
  • NOMURA HOLDINGS INC
    Passive investor
    at least 3.7%
    (filed with 1 related holder)
    Since 31 March 2026
  • BlackRock, Inc.
    Passive investor
    Sold down below 5%
    Since 30 June 2025
  • Sold down below 5%
    Since 31 December 2025

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

No insider bought shares on the open market in the last 12 months. 1 sold $45,265.

  • White Raymond T.
    Director
    Sold
    Date
    12 May 2026
    Shares
    18,782
    Price
    $2.41
    Value
    $45,265

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

None of the warning signs we check for were found.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 4 Mar 2026, plus the 10-Q filed 5 Aug 2026 and 16 later 8-Ks.

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

What could go wrong

  • It carries a lot of debt: 4.9× its equity.
  • Sales have shrunk: 0.3% a year.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.