National Energy Services Reunited (NESR) vs NextDecade Corporation (NEXT)

National Energy Services Reunited and NextDecade Corporation are both Oil & Gas Equipment & Services companies. National Energy Services Reunited is the larger, with a market value of $1.9B against $1.6B — 1.2× the size. NextDecade Corporation has negative trailing earnings, so its P/E is not meaningful; National Energy Services Reunited trades at 19.9×. National Energy Services Reunited has the higher net margin (5.77% vs 0.00%) and the higher return on invested capital (8.28% vs −1.12%). Across the 15 metrics below, National Energy Services Reunited leads on 13 and NextDecade Corporation on 2.

Valuation

Metric NESR NEXT Oil & Gas Equipment & Services median
P/E 19.93 n/m 22.50
P/S 1.17 n/m 1.17
P/B 1.81 0.59 1.82
Price to free cash flow 11.68 n/m 13.72
EV/EBITDA 6.84 n/m 8.68
EV/Sales 1.23 n/m 1.34
Earnings yield 5.02% (21.73%) 3.94%
Free cash flow yield 8.56% (345.19%) 5.66%

Profitability

Metric NESR NEXT Oil & Gas Equipment & Services median
Gross margin 13.37% 0.00% 23.26%
Operating margin 9.34% 0.00% 9.34%
Net margin 5.77% 0.00% 4.69%
Free cash flow margin 9.99% 0.00% 5.35%
Return on equity 9.44% (15.32%) 4.92%
Return on assets 4.76% (3.11%) 2.37%
Return on invested capital 8.28% (1.12%) 4.32%

Growth

Metric NESR NEXT Oil & Gas Equipment & Services median
Revenue growth (TTM) 23.55% — 6.08%
EPS growth (last fiscal year) (35.00%) (387.50%) (13.00%)
Revenue growth, 5-year CAGR 9.68% — 14.44%
Net income growth, 5-year CAGR 0.41% 0.00% 0.00%

Health

Metric NESR NEXT Oil & Gas Equipment & Services median
Debt to equity 0.26 3.70 0.46
Current ratio 1.02 0.37 2.07
Net debt to EBITDA 0.77 (58.53) 0.75

Dividend

Metric NESR NEXT Oil & Gas Equipment & Services median
Dividend yield — — 1.51%
Payout ratio — — 0.38

Size

Metric NESR NEXT Oil & Gas Equipment & Services median
Market cap 1.93b 1.60b 1.63b

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