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Friday 6 November 2026 Export NOV’s income statement to Excel — free account

NOV Inc.

NOV Energy Oil & Gas Equipment & Services

NOV Inc.’s revenue for fiscal 2025 (year ended December 2025) was $8.7 billion, down 1.42% from fiscal 2024.

Revenue
+2.30%
EPS
+141.9%
Free cash flow
−116.3%
Total debt
−0.64%

Quarter to September 2026, against a year earlier

17.68 0.29 +1.67%
Market cap
$6.2B
P/E
41.9×
Fwd P/E
21.5×
Dividend yield
1.98%
F-score
5/9
Altman Z
1.90
Beneish M
−2.99
Dividend safety
41/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by segment Fiscal 2025

  • Energy Equipment
  • Energy Products and Services

Every year since 2008 →

Insider Decisions last twelve months

Sold, $m 4.64
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — 2 — — — — 1 — — — —
Insider Ownership 0.84%

Capital & Financial Ratios $m

Size
Market Cap 6,200.00
Revenue ttm 8,689.00
Net income ttm 150.00
Free cash flow ttm 323.00
Net debt Q 649.00
Valuation
P/E 41.94 (above 35: high)
Forward P/E 21.50
Price / sales 0.72
Forward P/S Powerpack
Price / FCF 19.29
Price / book 0.99
Financial health
Current ratio Q 2.51 (at or above 1.5: strong)
Debt / equity Q 0.27 (at or below 0.5: strong)
Interest coverage Q 6.76
Growth
Revenue growth Q +2.30% (above 0%: growing)
Operating income growth Q +32.71% (above 0%: growing)
EPS, this year +141.93% (at or above 15%: strong)
EPS, next year A +36.12% (at or above 15%: strong)
Revenue, next year A −30.01% (below 0%: weak)
EPS, past 5 yrs —
EPS, next 5 yrs A +58.33% (at or above 15%: strong)

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 0.8×, against a ten-year median of 1.1×; over the ten years it ranged from 0.5× in 2020 to 2.6× in 2018.
P/E against its own 10 years 67.25%
10-year low 10-year high
P/S against its own 10 years 18.52%
10-year low 10-year high
P/B against its own 10 years 46.09%
10-year low 10-year high
EV/Sales against its own 10 years 18.01%
10-year low 10-year high
EV/FCF against its own 10 years 57.39%
10-year low 10-year high

Dividends

Yield
1.98%
Annual rate
0.35
Payout ratio
83.4%
Growth, 2018–26
+3.82%/yr
  1. 0.20 ’18
  2. 0.20 ’19 +0
  3. 0.05 ’20 −75
  4. 0.05 ’21 +0
  5. 0.20 ’22 +300
  6. 0.20 ’23 +0
  7. 0.28 ’24 +38
  8. 0.51 ’25 +85
  9. 0.27 ’26 −47
paid change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 816 1,230 1,552 1,058
Receivables 1,905 1,819 1,701 1,835
Inventory 2,151 1,932 1,799 1,956
Other 739 577 596 736
5,840 5,770 5,820 5,811
2023 2024 2025 Q'26
Payables 904 837 831 858
ST’ Debt 13 37 30 13
Other 532 492 565 515
2,435 2,347 2,406 2,317

Compound Annual Growth %

10y 5y 3y
Sales (5.10%) 7.50% 6.51%
Cash Flow (0.63%) 6.20% 0.00%
Earnings 0.00% 0.00% (2.20%)
Book Value (9.13%) 3.67% 7.18%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.24 Actual 0.25

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.25 0.02 Miss by 0.23
Q1 FY26 0.17 0.15 Miss by 0.02
Q2 FY26 0.16 0.31 Beat by 0.15
Q3 FY26 0.24 0.25 Beat by 0.01
Q4 FY26 0.29 — Reports 3 February 2027

EPS $

Mar Jun Sep Dec Year
’26 0.05 0.31 0.26 — —
’25 0.19 0.29 0.11 (0.21) 0.39
’24 0.30 0.57 0.33 0.41 1.60
’23 0.32 0.39 0.29 1.51 2.50
’22 (0.13) 0.18 0.08 0.26 0.39
’21 (0.30) (0.07) (0.18) (0.10) (0.65)
’20 (5.34) (0.24) (0.14) (0.90) (6.62)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 2,052 2,134 2,226 — —
’25 2,103 2,188 2,176 2,277 8,744
’24 2,155 2,216 2,191 2,308 8,870
’23 1,962 2,093 2,185 2,343 8,583
’22 1,548 1,727 1,889 2,073 7,237
’21 1,249 1,417 1,341 1,517 5,524
’20 1,883 1,496 1,384 1,327 6,090
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (26) 17 41 — —
’25 135 191 352 573 1,251
’24 (78) 432 359 591 1,304
’23 (202) (72) 40 377 143
’22 (103) (124) (106) 154 (179)
’21 (27) 177 105 36 291
’20 39 378 323 186 926
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (91) (19) (39) — —
’25 51 113 240 472 876
’24 (147) 350 277 473 953
’23 (259) (148) (34) 301 (140)
’22 (149) (167) (165) 88 (393)
’21 (76) 128 66 (28) 90
’20 (29) 322 274 133 700
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 10.1% a year for ten years. It grew 2.6% a year over the last ten.

Implied
10.1%
10 years, reported
2.6%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

2.6
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 7,251 7,304 8,453 8,479 6,090 5,524 7,237 8,583 8,870 8,744 8,689 +2.1% 6,120 6,387 6,682 (8.6%)
Gross margin, % (1.39) 12.21 17.08 9.97 7.13 14.01 18.43 21.36 22.66 20.21 20.73 +21.6 pt
EBT (2,623) (392) 41 (6,462) (2,779) (230) 238 612 831 375 381 n/m
EBT margin, % (36.17) (5.37) 0.49 (76.21) (45.63) (4.16) 3.29 7.13 9.37 4.29 4.38 +40.5 pt
Net income (2,416) (236) (22) (6,093) (2,537) (245) 155 985 635 151 150 n/m
Per share, $
Per share, $ Revenue 19.28 19.37 22.36 22.20 15.86 14.31 18.56 21.84 22.63 23.51 24.34 +2.2%
Earnings (6.41) (0.63) (0.08) (15.96) (6.62) (0.65) 0.40 2.53 1.62 0.39 0.42 n/m
Cash flow 2.55 2.21 1.38 1.87 2.41 0.75 (0.46) 0.36 3.33 3.36 1.69 +3.1%
Capex (0.76) (0.51) (0.65) (0.61) (0.59) (0.52) (0.55) (0.72) (0.90) (1.01) (0.79) +3.3%
Free cash flow 1.80 1.70 0.73 1.26 1.82 0.23 (1.01) (0.36) 2.43 2.35 0.90 +3.0%
Book value 37.24 37.56 36.74 20.54 13.75 13.12 13.16 15.88 16.40 16.99 17.67 (8.3%)
Shares, m 376 377 378 382 384 386 390 393 392 372 362 (0.1%)
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 0.00 0.00 0.00 49.63 8.00 9.07 41.13 41.94 10.8
P/S 1.96 1.90 1.15 1.13 0.87 0.95 1.07 0.92 0.65 0.67 0.72 1.1
P/B 1.02 0.98 0.70 1.22 1.00 1.03 1.51 1.27 0.89 0.92 0.99 1.1
EV/Sales 2.21 2.07 1.28 1.24 0.91 0.97 1.16 1.03 0.70 0.68 0.79 1.2
EV/FCF 23.70 23.67 38.91 21.83 7.89 59.47 (21.38) (63.08) 6.54 6.83 21.30 10.4
Cash, $m
Cash, $m Operating cash flow 960 832 521 714 926 291 (179) 143 1,304 1,251 605 +3.0%
Capex (284) (192) (244) (233) (226) (201) (214) (283) (351) (375) (282) +3.1%
Free cash flow 676 640 277 481 700 90 (393) (140) 953 876 323 +2.9%
Balance, $m
Balance, $m Working capital 4,829 4,863 4,938 3,866 3,342 2,992 3,056 3,405 3,423 3,414 3,494 (3.8%)
Net debt 1,806 1,275 1,062 932 252 122 661 909 510 166 649 (23.3%)
Shareholders’ equity 14,003 14,160 13,889 7,846 5,279 5,064 5,134 6,242 6,428 6,322 6,308 (8.5%)
Returns, %
Returns, % ROA (10.24) (1.15) (0.15) (37.00) (22.03) (2.57) 1.57 9.27 5.61 1.28 1.27 +11.5 pt
ROIC (9.53) (1.12) 0.88 (44.71) (27.40) (1.61) 2.85 5.69 7.89 4.76 4.26 +14.3 pt
ROE (15.84) (1.68) (0.22) (56.08) (38.74) (4.83) 3.04 17.46 10.02 2.27 2.26 +18.1 pt
People
People Employees 36,627 31,889 35,063 35,479 27,631 27,043 32,307 33,676 34,010 31,605 — (1.6%)
Revenue/emp, $m 0.20 0.23 0.24 0.24 0.22 0.20 0.22 0.25 0.26 0.28 — +3.8%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026

Business profile

Updated

NOV Inc. makes equipment and provides technology and services used to drill wells, complete them and produce oil and gas. Its customers include energy producers, oilfield service companies, drilling contractors and shipyards. The company also serves industrial, marine and renewable energy markets. Founded in 1862, NOV is headquartered in Houston.

Its products range from drill bits and tools used below the surface to complete drilling equipment and systems for offshore production. NOV also makes pumps, pipe, cranes and equipment used to handle and process fluids. It sells equipment and consumable products, rents tools and provides field services. After a sale, customers can buy spare parts, repairs, upgrades, training and technical support.

Where the money comes from and where it goes Fiscal 2025

Fiscal 2025: revenue by segment, and margins
Energy Equipment 4,934 56.43%
Energy Products and Services 3,977 45.48%
Gross margin 20.21%
Operating margin 5.65%
Pre-tax margin 4.29%

Revenue by segment since 2008

NOV Inc. vs peers in Oil & Gas Equipment & Services (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
NOV NOV Inc. $6.2B 41.9× 21.5× +2.30% (above 0%: growing) +141.91% (above 0%: growing) −116.25% (below 0%: shrinking) 19.72% 6.38%
WFRD Weatherford International PLC $6.0B 14.7× 16.0× −7.22% (below 0%: shrinking) +46.90% (above 0%: growing) +56.57% (above 0%: growing) 32.72% 13.39% Compare
AROC Archrock, Inc. $4.7B 13.8× 18.4× −3.04% (below 0%: shrinking) +21.00% (above 0%: growing) +28.48% (above 0%: growing) 66.83% 39.53% Compare
WHD Cactus, Inc. $4.4B 37.6× 23.4× +63.24% (above 0%: growing) +45.90% (above 0%: growing) −95.60% (below 0%: shrinking) 36.40% 21.83% Compare
SEI Solaris Energy Infrastructure, Inc. $4.1B 50.4× 49.5× +46.92% (above 0%: growing) +13.33% (above 0%: growing) −89.73% (below 0%: shrinking) 57.55% 25.76% Compare
KGS Kodiak Gas Services, Inc. $3.9B 46.4× 24.4× +21.15% (above 0%: growing) +22.73% (above 0%: growing) −194.00% (below 0%: shrinking) 63.09% 31.76% Compare
USAC USA Compression Partners, LP $3.5B 21.5× 20.9× +42.73% (above 0%: growing) +22.22% (above 0%: growing) −74.45% (below 0%: shrinking) 62.19% 28.60% Compare
TDW Tidewater Inc. $3.4B 13.9× 32.8× +0.25% (above 0%: growing) −70.07% (below 0%: shrinking) −15.92% (below 0%: shrinking) 46.88% 18.27% Compare
OII Oceaneering International, Inc. $3.4B 10.4× 21.1× +5.61% (above 0%: growing) −26.76% (below 0%: shrinking) +66.85% (above 0%: growing) 20.97% 11.75% Compare
Median of peers $4.0B 18.1× 22.3× +13.38% +21.61% −45.19% 52.22% 23.80%

All 48 Oil & Gas Equipment & Services stocks →

From the latest earnings call

Updated

  • CEO Jose Bayardo said Middle East security and logistics disruptions affected deliveries and tenders, while customers’ revised drilling plans would weigh on fourth-quarter activity.
  • Bayardo said offshore production projects should increasingly enter equipment procurement through 2027 and into 2028, although the timing of large awards can shift between quarters.

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 109.05%
Held by the ten largest 71.36%
Holder Shares Stake Change
First Eagle Investment Management, LLC 61.37m 17.22% +24.96m
Vanguard 38.20m 10.72% +300.90k
BlackRock 37.63m 10.56% −193.30k
PZENA INVESTMENT MANAGEMENT LLC 36.38m 10.20% −1.16m
Dimensional Fund Advisors 19.67m 5.52% +265.44k
T. Rowe Price 15.51m 4.35% +8.59m
HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC 14.35m 4.03% −565.79k
State Street 12.29m 3.45% −106.84k
American Century 10.37m 2.91% +359.50k
AQR Capital Management 8.63m 2.42% +2.95m
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 9 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 12.71m 15.33m 123.36
2024 11.97m (667.51k) 110.87
2023 12.98m 8.59m 151.46
2022 13.07m 22.51m 154.31
2021 11.33m 7.85m 99.09

Ownership

Directors and executive officers, together 1.15%
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

NOV Inc. (NOV) Latest News

2 Nov

Impact 3 · · Zacks

29 Oct

Impact 4 · · Simply Wall St.
Impact 3 · · Zacks

28 Oct

Impact 4 · · Simply Wall St.
Impact 4 · · Simply Wall St.
Impact 4 · · The Motley Fool transcript
Impact 4 · · Moby
Impact 3 · · MarketBeat
Impact 3 · · Associated Press

27 Oct

Impact 3 · · Zacks
Impact 3 · · StockStory
Impact 3 · · GlobeNewswire earnings

26 Oct

Impact 3 · · StockStory

15 Oct

Impact 4 · · Zacks

2 Oct

Impact 3 · · StockStory

23 Sep

Impact 3 · · StockStory

22 Sep

Impact 3 · · Zacks

21 Sep

Impact 3 · · Zacks

30 Jul

Impact 3 ·
Impact 3 · · MarketBeat transcript

29 Jul

Impact 3 ·

28 Jul

Impact 3 ·
Impact 3 ·

27 Jul

Impact 3 ·

24 Jul

Impact 3 ·

22 May

Impact 4 · · Simply Wall St.

6 May

Impact 3 · · Zacks

4 May

Impact 4 · · Simply Wall St.
Impact 3 · · StockStory

1 May

Impact 3 · · Zacks

NOV metrics, ten years each

stockrow.com/NOV · Data as of Nov 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com