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DNOW Inc.

DNOW Industrials Industrial Distribution

DNOW Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.8 billion, up 18.8% from fiscal 2024.

Revenue
+110.9%
EPS
−39.1%
Free cash flow
+171.8%

Quarter to September 2026, against a year earlier

13.69 1.68 −10.93%
Market cap
$2.5B
P/E
0.0×
Fwd P/E
−112×
Dividend yield
—
F-score
3/9
Altman Z
1.30
Beneish M
−1.60
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 7.47
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — 3 — — —
Insider Ownership 2.35%

Capital & Financial Ratios $m

Size
Market Cap 2,480.00
Revenue ttm 4,786.00
Net income ttm (189.00)
Free cash flow ttm 203.00
Net debt Q 265.00
Valuation
P/E 0.00
Forward P/E (112.00) (negative: loss-making)
Price / sales 0.52
Forward P/S Powerpack
Price / FCF 12.71
Price / book 1.17
Financial health
Current ratio Q 2.08 (at or above 1.5: strong)
Debt / equity Q 0.18 (at or below 0.5: strong)
Interest coverage Q —
Growth
Revenue growth Q +110.88% (above 0%: growing)
Operating income growth Q −94.12% (below 0%: shrinking)
EPS, this year −58.91% (below 0%: weak)
EPS, next year A +127.83% (at or above 15%: strong)
Revenue, next year A +79.68% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A +5.62%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.6×, against a ten-year median of 0.5×; over the ten years it ranged from 0.1× in 2020 to 1.1× in 2017.
P/S against its own 10 years 32.31%
10-year low 10-year high
P/B against its own 10 years 28.02%
10-year low 10-year high
EV/Sales against its own 10 years 66.04%
10-year low 10-year high
EV/FCF against its own 10 years 75.75%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 299 256 164 112
Receivables 384 388 874 878
Inventory 366 352 1,192 988
Other — — — —
1,068 1,028 2,278 2,033
2023 2024 2025 Q'26
Payables 288 300 653 708
ST’ Debt — — — —
Other 10 12 21 15
418 442 974 978

Compound Annual Growth %

10y 5y 3y
Sales (0.65%) 11.74% 9.70%
Cash Flow 3.68% (7.10%) 72.88%
Earnings 0.00% 0.00% 0.00%
Book Value 4.78% 26.21% 38.41%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 0.08 Actual 0.12

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 0.24 0.26 Beat by 0.02
Q4 FY25 0.12 0.15 Beat by 0.03
Q1 FY26 0.05 0.01 Miss by 0.04
Q2 FY26 0.08 0.12 Beat by 0.04
Q3 FY26 0.15 — Reports 5 November 2026

EPS $

Mar Jun Sep Dec Year
’26 (0.24) (0.11) 0.14 — —
’25 0.20 0.13 0.23 (0.95) (0.76)
’24 0.19 0.21 0.12 0.21 0.74
’23 0.28 0.31 0.32 1.35 2.24
’22 0.27 0.23 0.35 0.28 1.13
’21 (0.09) (0.02) 0.05 0.11 0.05
’20 (3.03) (0.27) (0.20) (0.40) (3.91)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 1,183 1,307 1,337 — —
’25 599 628 634 959 2,820
’24 563 633 606 571 2,373
’23 584 594 588 555 2,321
’22 473 539 577 547 2,136
’21 361 400 439 432 1,632
’20 604 370 326 319 1,619
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (95) 133 120 — —
’25 (16) 45 43 83 155
’24 81 21 74 122 298
’23 (22) (29) 45 6 188
’21 (4) 8 24 2 30
’20 6 68 59 56 189
’19 (20) 69 101 74 224
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (103) 124 106 — —
’25 (22) 41 39 76 134
’24 80 18 72 119 289
’23 (11) 79 0 103 171
’22 (22) (35) 44 4 (9)
’21 (5) 7 22 1 25
’20 3 66 57 55 181
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 2,107 2,648 3,127 2,951 1,619 1,632 2,136 2,321 2,373 2,820 4,786 +3.3% 5,067 5,420 5,687 +26.3%
Gross margin, % 16.37 18.92 20.15 19.86 18.04 21.88 23.69 23.22 22.38 16.95 0.00 +0.6 pt
EBT (230) (52) 58 (93) (430) 12 139 142 110 (100) (215) (8.8%)
EBT margin, % (10.92) (1.96) 1.85 (3.15) (26.56) 0.74 6.51 6.12 4.64 (3.55) 0.00 +7.4 pt
Net income (234) (52) 52 (97) (427) 5 129 251 79 (88) (189) (10.3%)
Per share, $
Per share, $ Revenue 19.69 24.52 28.95 27.07 14.85 14.84 19.24 21.69 22.39 23.90 0.00 +2.2%
Earnings (2.18) (0.48) 0.47 (0.89) (3.91) 0.05 1.14 2.26 0.75 (0.76) (1.16) (11.0%)
Cash flow 2.20 (1.06) 0.68 2.06 1.73 0.27 0.00 1.76 2.81 1.31 0.00 (5.6%)
Capex (0.07) (0.04) (0.10) (0.11) (0.07) (0.05) (0.08) (0.16) (0.08) (0.18) 0.00 +10.1%
Free cash flow 2.12 (1.10) 0.57 1.95 1.66 0.23 (0.08) 1.60 2.73 1.14 0.00 (6.7%)
Book value 11.06 10.97 11.24 10.50 6.41 6.47 7.60 9.93 10.64 18.97 0.00 +6.2%
Shares, m 107 108 108 109 109 110 111 107 106 118 148 +1.1%
Valuation, ×
Valuation, × P/E 0.00 0.00 25.30 0.00 0.00 170.80 10.72 4.90 17.35 0.00 0.00 22.9
P/S 1.08 0.47 0.40 0.42 0.48 0.58 0.63 0.51 0.58 0.55 0.52 0.6
P/B 1.92 1.05 1.04 1.07 1.12 1.32 1.59 1.12 1.22 0.70 1.17 1.2
EV/Sales 1.06 0.50 0.41 0.37 0.26 0.40 0.55 0.40 0.49 0.64 0.58 0.5
EV/FCF 9.83 (10.41) 23.15 5.46 2.45 35.91 (68.48) 5.61 4.08 14.26 14.06 2.2
Cash, $m
Cash, $m Operating cash flow 235 (115) 73 224 189 30 — 188 298 155 241 (4.5%)
Capex (8) (4) (11) (12) (8) (5) (9) (17) (9) (21) (38) +11.3%
Free cash flow 227 (119) 62 212 181 25 (9) 171 289 134 203 (5.7%)
Balance, $m
Balance, $m Working capital 612 735 778 671 589 514 578 650 586 1,304 1,055 +8.8%
Net debt (41) 64 16 (139) (356) (293) (180) (299) (256) 247 265 n/m
Shareholders’ equity 1,183 1,185 1,214 1,144 699 712 844 1,063 1,128 2,238 2,121 +7.3%
Returns, %
Returns, % ROA (13.62) (3.10) 2.93 (5.73) (32.86) 0.47 10.40 17.55 4.95 (3.21) 0.00 +10.4 pt
ROIC (12.15) (2.05) 3.71 (5.16) (76.53) 1.34 12.33 11.78 7.81 (2.34) 0.00 +9.8 pt
ROE (18.10) (4.39) 4.34 (8.23) (46.34) 0.71 16.20 26.22 7.12 (5.29) 0.00 +12.8 pt
People
People Employees 4,500 4,875 4,700 4,600 2,600 2,350 2,525 2,475 2,575 5,655 — +2.6%
Revenue/emp, $m 0.47 0.54 0.67 0.64 0.62 0.69 0.85 0.94 0.92 0.50 — +0.7%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

DNOW Inc. vs peers in Industrial Distribution (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
POOL Pool Corporation $7.7B 19.8× 18.9× +3.71% (above 0%: growing) 0.00% +52.83% (above 0%: growing) 28.99% 11.44% Compare
XMTR Xometry, Inc. $6.3B — (loss-making) — (loss-making) +39.69% (above 0%: growing) n/m −327.10% (below 0%: shrinking) 39.09% 0.02% Compare
MSM MSC Industrial Direct Company, Inc. $6.2B 27.8× 29.0× +10.32% (above 0%: growing) −14.85% (below 0%: shrinking) +8.93% (above 0%: growing) 40.64% 6.75% Compare
SITE SiteOne Landscape Supply, Inc. $4.9B 29.6× 29.8× +2.61% (above 0%: growing) +10.89% (above 0%: growing) −7.95% (below 0%: shrinking) 35.51% 7.42% Compare
REZI Resideo Technologies, Inc. $3.0B 7.8× 13.6× +1.96% (above 0%: growing) n/m −33.89% (below 0%: shrinking) 30.04% 6.61% Compare
DNOW DNOW Inc. $2.5B — (loss-making) — (loss-making) +110.88% (above 0%: growing) −39.13% (below 0%: shrinking) +171.79% (above 0%: growing) 0.00% 0.00%
DXPE DXP Enterprises, Inc. $2.1B 21.5× 26.9× +14.30% (above 0%: growing) +25.36% (above 0%: growing) −48.44% (below 0%: shrinking) 30.74% 8.93% Compare
GIC Global Industrial Company $1.8B 19.6× 19.2× +10.15% (above 0%: growing) +34.17% (above 0%: growing) +96.82% (above 0%: growing) 35.66% 8.40% Compare
DSGR Distribution Solutions Group, Inc. $1.6B 146× 57.3× +10.75% (above 0%: growing) +35.71% (above 0%: growing) −38.86% (below 0%: shrinking) 32.04% 4.40% Compare
Median of peers $3.9B 21.5× 26.9× +10.24% +18.13% −20.92% 33.78% 7.09%

All 25 Industrial Distribution stocks →

Pay and ownership Proxy statement filed 9 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 7.12m 7.66m 184.54
2024 6.08m 7.02m 181.20
2023 5.58m 3.13m 157.66
2022 5.46m 10.85m 176.88
2021 5.99m 5.47m 118.94

Ownership

Directors and executive officers, together 1.90%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

DNOW Inc. (DNOW) Latest News

5 Nov

Impact 3 · · GuruFocus.com
Impact 3 · · The Motley Fool transcript
Impact 3 · · GlobeNewswire

22 Sep

Impact 3 · · Simply Wall St.

21 Aug

Impact 4 · · MarketBeat

13 Aug

Impact 4 · · The Motley Fool transcript

8 Aug

Impact 3 · · MarketBeat

7 Aug

Impact 4 ·
Impact 3 ·
Impact 3 · · Moby transcript

6 Aug

Impact 3 ·
Impact 3 ·
Impact 3 ·
Impact 3 ·

8 Jul

Impact 3 ·

1 Jun

Impact 3 · · The Motley Fool transcript

14 May

Impact 4 · · StockStory

10 May

Impact 4 · · Simply Wall St.

9 May

Impact 3 · · MarketBeat

8 May

Impact 3 · · Moby

7 May

Impact 4 · · StockStory
Impact 4 · · Business Wire
Impact 3 · · Zacks
Impact 3 · · Zacks

6 May

Impact 4 · · Simply Wall St.

29 Apr

Impact 3 · · Zacks

23 Mar

Impact 5 · · Zacks
Impact 4 · · Zacks
Impact 3 · · Zacks

19 Mar

Impact 4 · · Simply Wall St.

DNOW metrics, ten years each

stockrow.com/DNOW · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com