Saturday 17 October 2026
Export NESR’s income statement to Excel — free account
National Energy Services Reunited
NESR Energy Oil & Gas Equipment & Services
National Energy Services Reunited’s revenue for fiscal 2025 (year ended December 2025) was $1.3 billion, up 1.72% from fiscal 2024. In the quarter to June 2026, revenue grew 59.1%, EPS grew 175.0%, free cash flow grew 45.8% and total debt fell 22.6%, each against the same quarter a year earlier. Revenue growth for five consecutive years, operating cash flow growth for three.
18.73
0.38
−1.99%
Follow NESR
| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
Piotroski F-Score |
— | — | — | 4 | 6 | 3 | 5 | 8 | 8 | 5 |
P/E ratio |
18.92 | 18.92 | 18.92 | 18.92 | 18.92 | 18.92 | 18.92 | 18.92 | 11.20 | 29.55 |
Altman Z-Score |
— | — | — | — | — | — | — | — | 1.62 | 2.00 |
P/S ratio |
0.71 | 0.71 | 0.71 | 0.71 | 0.71 | 0.71 | 0.71 | 0.71 | 0.66 | 1.16 |
P/FCF ratio |
6.33 | 6.33 | 6.33 | 6.33 | 6.33 | 6.33 | 6.33 | 6.33 | 6.72 | 12.27 |
Altman Z″-Score (non-manufacturers) |
— | 3.36 | 2.48 | 2.68 | 2.44 | 1.33 | 0.66 | 1.10 | 1.79 | 1.71 |
Beneish M-Score |
— | — | (1.31) | (2.48) | (2.20) | 27.46 | (3.31) | (3.05) | (2.98) | (2.67) |
P/Operating CF |
20.13 | 20.13 | 20.13 | 20.13 | 20.13 | 20.13 | 20.13 | 20.13 | 18.49 | 11.12 |
P/B ratio |
1.01 | 1.01 | 1.01 | 1.01 | 1.01 | 1.01 | 1.01 | 1.01 | 0.94 | 1.59 |
Price to Tangible BV |
6.54 | 6.54 | 6.54 | 6.54 | 6.54 | 6.54 | 6.54 | 6.54 | 4.33 | 5.59 |
EV/Sales |
0.99 | 0.99 | 0.99 | 0.99 | 0.99 | 0.99 | 0.99 | 0.99 | 0.87 | 1.30 |
EV/EBITDA |
5.74 | 5.74 | 5.74 | 5.74 | 5.74 | 5.74 | 5.74 | 5.74 | 4.03 | 7.19 |
EV/Operating CF |
4.71 | 4.71 | 4.71 | 4.71 | 4.71 | 4.71 | 4.71 | 4.71 | 4.93 | 6.54 |
EV/FCF |
8.78 | 8.78 | 8.78 | 8.78 | 8.78 | 8.78 | 8.78 | 8.78 | 8.88 | 13.74 |
Quick Ratio |
— | 1.63 | 0.89 | 1.15 | 1.03 | 1.11 | 0.69 | 0.70 | 0.79 | 0.79 |
Current Ratio |
— | 2.59 | 1.34 | 1.77 | 1.43 | 1.45 | 0.99 | 1.02 | 1.07 | 1.04 |
Net Debt/EBITDA |
0.00 | 1.63 | 2.20 | 1.94 | 1.72 | 4.95 | 3.97 | 1.72 | 0.98 | 0.77 |
Debt/Assets |
0.00% | 25.15% | 22.49% | 25.19% | 23.62% | 32.54% | 29.27% | 25.15% | 21.58% | 16.75% |
Debt/Equity |
0.00 | 0.40 | 0.36 | 0.43 | 0.42 | 0.73 | 0.67 | 0.55 | 0.42 | 0.32 |
Asset Turnover |
0.00 | 0.88 | 0.49 | 0.46 | 0.52 | 0.50 | 0.50 | 0.63 | 0.73 | 0.73 |
Operating CF/Net income |
9.24 | 2.72 | 1.44 | 2.26 | 2.70 | (1.98) | (2.54) | 14.07 | 3.01 | 5.17 |
Capex/Depreciation |
(1.17) | (1.26) | (0.46) | (1.21) | (0.77) | (0.85) | (1.05) | (0.47) | (0.71) | (0.98) |
Interest Coverage |
3.19 | 5.99 | 3.58 | 3.79 | 4.25 | (2.86) | (0.03) | 1.76 | 3.45 | 3.02 |
| 0.00% | 0.00% | 7.01% | 4.58% | 5.47% | (7.31%) | (4.49%) | 1.55% | 8.82% | 5.45% | |
| 0.00% | 9.89% | 4.36% | 2.75% | 3.12% | (3.67%) | (1.99%) | 0.69% | 4.27% | 2.82% | |
ROIC |
0.00% | 4.86% | 3.73% | 3.75% | 3.33% | (2.24%) | (0.05%) | 4.18% | 7.27% | 5.33% |
Return on Tangible Assets |
0.00% | 8.42% | 10.55% | 6.62% | 8.44% | (10.40%) | (8.01%) | 2.79% | 16.06% | 10.42% |
Average Days of Receivables |
0.00 | 99.82 | 131.14 | 104.87 | 128.54 | 114.13 | 119.26 | 97.80 | 80.61 | 97.51 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
11.58% | 11.18% | 11.67% | 9.70% | 8.64% | 3.20% | 5.23% | 4.29% | 4.01% | 3.60% |
Intangible Assets out of Total Assets |
0.00 | 0.29 | 0.53 | 0.46 | 0.43 | 0.42 | 0.41 | 0.41 | 0.40 | 0.37 |
Share Based Compensation of Revenue |
0.17% | 0.00% | 0.77% | 0.86% | 0.94% | 1.11% | 1.02% | 0.59% | 0.46% | 0.63% |
Graham Net Nets |
(0.44) | (0.44) | (0.44) | (0.44) | (0.44) | (0.44) | (0.44) | (0.44) | (0.38) | (0.16) |
Graham Number |
0.00 | 0.00 | 10.33 | 10.16 | 11.57 | 0.00 | 0.00 | 0.00 | 13.09 | 10.83 |
Earnings Yield |
5.28% | 5.28% | 5.28% | 5.28% | 5.28% | 5.28% | 5.28% | 5.28% | 8.93% | 3.38% |
Free Cash Flow Yield |
15.79% | 15.79% | 15.79% | 15.79% | 15.79% | 15.79% | 15.79% | 15.79% | 14.88% | 8.15% |
Revenue per Share |
0.66 | 0.79 | 5.68 | 7.57 | 9.39 | 9.63 | 9.78 | 12.09 | 13.63 | 13.45 |
Operating CF per Share |
0.23 | 0.24 | 0.72 | 1.02 | 1.52 | 1.40 | 1.00 | 1.87 | 2.40 | 2.68 |
Capex per Share |
(0.18) | (0.14) | (0.32) | (1.22) | (1.04) | (1.15) | (1.31) | (0.70) | (1.07) | (1.41) |
Free Cash Flow per Share |
0.05 | 0.10 | 0.40 | (0.20) | 0.48 | 0.26 | (0.31) | 1.17 | 1.33 | 1.28 |
Cash per Share |
0.00 | 0.08 | 0.29 | 0.84 | 0.84 | 2.26 | 0.85 | 0.72 | 1.13 | 1.27 |
Shareholders Equity per Share |
0.00 | 1.14 | 9.71 | 10.19 | 10.63 | 9.02 | 8.63 | 8.67 | 9.51 | 9.83 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
0.00 | 1.14 | 9.71 | 10.19 | 10.63 | 9.02 | 8.63 | 8.67 | 9.51 | 9.83 |
Free Cash Flow |
17.61 | 34.82 | 33.90 | (17.22) | 42.53 | 23.43 | (29.21) | 110.53 | 127.28 | 125.69 |
Working Capital |
— | 99.40 | 76.57 | 175.07 | 155.85 | 195.50 | (6.25) | 8.27 | 37.00 | 25.45 |
Capital Expenditures |
(61.28) | (48.37) | (27.76) | (106.31) | (92.79) | (104.32) | (121.79) | (66.43) | (102.05) | (138.55) |
Net Current Asset Value |
0.00 | (68.29) | (212.67) | (232.68) | (227.42) | (382.89) | (488.16) | (434.53) | (324.93) | (253.23) |
EV/EBIT |
11.45 | 11.45 | 11.45 | 11.45 | 11.45 | 11.45 | 11.45 | 11.45 | 8.21 | 17.56 |
Capex to Sales |
0.27 | 0.18 | 0.06 | 0.16 | 0.11 | 0.12 | 0.13 | 0.06 | 0.08 | 0.10 |
Price to Operating Income |
8.26 | 8.26 | 8.26 | 8.26 | 8.26 | 8.26 | 8.26 | 8.26 | 6.21 | 15.68 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.00 | 0.15 | 0.18 | 0.21 | 0.28 | 0.29 | 0.25 | 0.32 | 0.33 | 0.30 |
Cash ROIC |
0.00% | 6.08% | 2.93% | (1.28%) | 3.00% | 1.44% | (2.06%) | 8.24% | 9.10% | 8.96% |
Accounts Receivable Turnover |
0.00 | 0.00 | 3.91 | 3.62 | 3.45 | 3.09 | 3.18 | 3.79 | 4.38 | 4.13 |
Accounts Payable Turnover |
0.00 | 0.00 | 7.73 | 7.68 | 6.45 | 3.81 | 2.53 | 2.83 | 3.33 | 3.19 |
Inventory Turnover |
0.00 | 0.00 | 7.81 | 7.40 | 7.84 | 9.29 | 8.26 | 9.55 | 11.20 | 12.10 |
Average Days of Payables |
0.00 | 45.83 | 68.44 | 47.32 | 77.77 | 131.38 | 152.88 | 128.55 | 101.95 | 132.57 |
Days of Inventory on Hand |
0.00 | 58.93 | 60.06 | 56.78 | 50.69 | 39.20 | 47.79 | 36.03 | 32.32 | 29.86 |
Average Receivables |
— | — | 124.34 | 181.82 | 241.46 | 283.95 | 285.66 | 302.11 | 297.26 | 320.60 |
Average Payables |
— | — | 45.70 | 65.98 | 105.16 | 229.59 | 334.05 | 352.39 | 328.27 | 363.19 |
Average Inventory |
— | — | 45.23 | 68.50 | 86.55 | 94.06 | 102.19 | 104.48 | 97.60 | 95.80 |
Average Assets |
— | 309.79 | 981.44 | 1,432.84 | 1,604.71 | 1,759.17 | 1,829.81 | 1,813.03 | 1,785.71 | 1,812.60 |
Average Common Equity |
— | — | 610.21 | 858.73 | 915.45 | 882.73 | 811.69 | 811.92 | 864.86 | 938.07 |
Columns are period end dates