Sunday 11 October 2026
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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. In the quarter to June 2026, revenue grew 108.1%, EPS fell 182.5% and free cash flow grew 202.4%, each against the same quarter a year earlier. Revenue growth for five consecutive years.
15.57
0.08
−0.51%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend | 2026e | 2027e | 2028e |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Price, $ | |||||||||||||||
| Price, $ | Low | 12.03 | 9.75 | 9.12 | 10.00 | 4.03 | 6.83 | 8.44 | 8.83 | 9.44 | 12.01 |
Analyst estimates 2026–2028 Powerpack |
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| High | 23.53 | 22.86 | 18.56 | 15.93 | 11.91 | 11.98 | 13.51 | 14.86 | 15.65 | 18.45 | |||||
| People | |||||||||||||||
| People | Employees | 4,500 | 4,875 | 4,700 | 4,600 | 2,600 | 2,350 | 2,525 | 2,475 | 2,575 | 5,655 | ||||
| Revenue/emp, $m | 0.47 | 0.54 | 0.67 | 0.64 | 0.62 | 0.69 | 0.85 | 0.94 | 0.92 | 0.50 | |||||
| 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 | ||||
| Gross margin, % | 16.37 | 18.92 | 20.15 | 19.86 | 18.04 | 21.88 | 23.69 | 23.22 | 22.38 | 16.95 | |||||
| EBT | (230) | (52) | 58 | (93) | (430) | 12 | 139 | 142 | 110 | (100) | |||||
| EBT margin, % | (10.92) | (1.96) | 1.85 | (3.15) | (26.56) | 0.74 | 6.51 | 6.12 | 4.64 | (3.55) | |||||
| Net income | (234) | (52) | 52 | (97) | (427) | 5 | 129 | 251 | 79 | (88) | |||||
| Depreciation | 53 | 50 | 41 | 41 | 28 | 23 | 19 | 26 | 40 | 64 | |||||
| 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 | ||||
| Earnings | (2.18) | (0.48) | 0.47 | (0.89) | (3.91) | 0.05 | 1.14 | 2.26 | 0.75 | (0.76) | |||||
| Cash flow | 2.20 | (1.06) | 0.68 | 2.06 | 1.73 | 0.27 | 0.00 | 1.76 | 2.81 | 1.31 | |||||
| Capex | (0.07) | (0.04) | (0.10) | (0.11) | (0.07) | (0.05) | (0.08) | (0.16) | (0.08) | (0.18) | |||||
| Free cash flow | 2.12 | (1.10) | 0.57 | 1.95 | 1.66 | 0.23 | (0.08) | 1.60 | 2.73 | 1.14 | |||||
| Book value | 11.06 | 10.97 | 11.24 | 10.50 | 6.41 | 6.47 | 7.60 | 9.93 | 10.64 | 18.97 | |||||
| Shares, m | 107 | 108 | 108 | 109 | 109 | 110 | 111 | 107 | 106 | 118 | |||||
| Valuation, × | |||||||||||||||
| Valuation, × | P/E | 0.00 | 0.00 | 25.30 | 0.00 | 0.00 | 170.80 | 10.72 | 4.90 | 17.35 | 0.00 | ||||
| P/S | 1.08 | 0.47 | 0.40 | 0.42 | 0.48 | 0.58 | 0.63 | 0.51 | 0.58 | 0.55 | |||||
| P/B | 1.92 | 1.05 | 1.04 | 1.07 | 1.12 | 1.32 | 1.59 | 1.12 | 1.22 | 0.70 | |||||
| EV/Sales | 1.06 | 0.50 | 0.41 | 0.37 | 0.26 | 0.40 | 0.55 | 0.40 | 0.49 | 0.64 | |||||
| EV/FCF | 9.83 | (10.41) | 23.15 | 5.46 | 2.45 | 35.91 | (68.48) | 5.61 | 4.08 | 14.26 | |||||
| Cash, $m | |||||||||||||||
| Cash, $m | Operating cash flow | 235 | (115) | 73 | 224 | 189 | 30 | — | 188 | 298 | 155 | ||||
| Capex | (8) | (4) | (11) | (12) | (8) | (5) | (9) | (17) | (9) | (21) | |||||
| Free cash flow | 227 | (119) | 62 | 212 | 181 | 25 | (9) | 171 | 289 | 134 | |||||
| Balance, $m | |||||||||||||||
| Balance, $m | Working capital | 612 | 735 | 778 | 671 | 589 | 514 | 578 | 650 | 586 | 1,304 | ||||
| Total debt | 65 | 162 | 132 | 44 | 31 | 20 | 32 | — | — | 411 | |||||
| Net debt | (41) | 64 | 16 | (139) | (356) | (293) | (180) | (299) | (256) | 247 | |||||
| Shareholders’ equity | 1,183 | 1,185 | 1,214 | 1,144 | 699 | 712 | 844 | 1,063 | 1,128 | 2,238 | |||||
| Returns, % | |||||||||||||||
| Returns, % | ROA | (13.62) | (3.10) | 2.93 | (5.73) | (32.86) | 0.47 | 10.40 | 17.55 | 4.95 | (3.21) | ||||
| ROIC | (12.15) | (2.05) | 3.71 | (5.16) | (76.53) | 1.34 | 12.33 | 11.78 | 7.81 | (2.34) | |||||
| ROE | (18.10) | (4.39) | 4.34 | (8.23) | (46.34) | 0.71 | 16.20 | 26.22 | 7.12 | (5.29) | |||||
Negative figures in brackets.
Fiscal years to Dec 2025 · latest quarter Jun 2026
Charts ten years each
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 |
|---|---|---|---|---|---|---|---|---|---|
| MSM MSC Industrial Direct Company, Inc. | $7.2B | 31.3× | 27.6× | +7.82% (above 0%: growing) | +41.18% (above 0%: growing) | −23.88% (below 0%: shrinking) | 41.11% | 10.19% | Compare |
| XMTR Xometry, Inc. | $6.1B | — (loss-making) | — (loss-making) | +41.05% (above 0%: growing) | n/m | −41.54% (below 0%: shrinking) | 38.01% | (2.42%) | Compare |
| POOL Pool Corporation | $5.8B | 14.6× | 16.7× | +2.15% (above 0%: growing) | −0.19% (below 0%: shrinking) | −27.07% (below 0%: shrinking) | 29.66% | 14.68% | Compare |
| SITE SiteOne Landscape Supply, Inc. | $3.8B | 23.6× | 26.2× | +4.73% (above 0%: growing) | +9.72% (above 0%: growing) | +8.91% (above 0%: growing) | 36.88% | 12.91% | Compare |
| DNOW DNOW Inc. | $2.8B | — (loss-making) | 139× | +108.12% (above 0%: growing) | n/m | +202.44% (above 0%: growing) | 18.59% | 0.08% | |
| DXPE DXP Enterprises, Inc. | $2.8B | 30.3× | 25.2× | +15.60% (above 0%: growing) | +23.33% (above 0%: growing) | +264.63% (above 0%: growing) | 31.76% | 9.63% | Compare |
| REZI Resideo Technologies, Inc. | $2.6B | 7.4× | 16.8× | +1.96% (above 0%: growing) | n/m | −33.89% (below 0%: shrinking) | 30.04% | 6.61% | Compare |
| DSGR Distribution Solutions Group, Inc. | $1.6B | 184× | 29.8× | +11.01% (above 0%: growing) | +63.64% (above 0%: growing) | −48.55% (below 0%: shrinking) | 32.30% | 5.00% | Compare |
| GIC Global Industrial Company | $1.6B | 19.2× | 16.1× | +7.72% (above 0%: growing) | +47.69% (above 0%: growing) | +33.66% (above 0%: growing) | 40.20% | 12.75% | Compare |
| Median of peers | $3.3B | 23.6× | 25.2× | +7.77% | +32.26% | −25.48% | 34.59% | 9.91% |
DNOW Inc. (DNOW) key facts
- Strength: DNOW Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.8 billion, up 18.8% from fiscal 2024.
- DNOW Inc. (DNOW) is an Industrial Distribution company in the Industrials sector, listed on the New York Stock Exchange.
- As of October 9, 2026, DNOW traded at $15.57, a market capitalization of $2.8 billion.
- Return on equity was −5.29% and debt-to-equity 0.23.
- Its Piotroski F-score is 3 out of 9 and its Altman Z-score is 1.30 (distress zone) for fiscal 2025.