National Energy Services Reunited (NESR) vs Tidewater Inc. (TDW)

National Energy Services Reunited and Tidewater Inc. are both Oil & Gas Equipment & Services companies. Tidewater Inc. is the larger, with a market value of $4.3B against $3.3B — 1.3× the size. Tidewater Inc. trades at the lower P/E: 17.0× against 34.2×. National Energy Services Reunited grew revenue faster over the last twelve months: 23.6% against −1.02%. Tidewater Inc. has the higher net margin (18.3% vs 5.77%) and the higher return on invested capital (10.9% vs 8.28%). Across the 22 metrics below, Tidewater Inc. leads on 17 and National Energy Services Reunited on 5.

Valuation

Metric NESR TDW Oil & Gas Equipment & Services median
P/E 34.18 17.02 24.78
P/S 2.00 3.13 1.28
P/B 3.11 3.04 1.85
Price to free cash flow 20.04 15.33 15.03
EV/EBITDA 11.48 8.22 8.93
EV/Sales 2.06 3.16 1.40
Earnings yield 2.93% 5.88% 3.12%
Free cash flow yield 4.99% 6.52% 5.01%

Profitability

Metric NESR TDW Oil & Gas Equipment & Services median
Gross margin 13.37% 48.09% 23.27%
Operating margin 9.34% 18.43% 9.34%
Net margin 5.77% 18.34% 4.69%
Free cash flow margin 9.99% 20.42% 5.05%
Return on equity 9.44% 19.56% 4.92%
Return on assets 4.76% 11.12% 2.37%
Return on invested capital 8.28% 10.86% 4.32%

Growth

Metric NESR TDW Oil & Gas Equipment & Services median
Revenue growth (TTM) 23.55% (1.02%) 6.08%
EPS growth (last fiscal year) (35.00%) 95.29% —
Revenue growth, 5-year CAGR 9.68% 27.78% 10.60%
Net income growth, 5-year CAGR 0.41% 0.00% 0.00%

Health

Metric NESR TDW Oil & Gas Equipment & Services median
Debt to equity 0.26 0.47 0.46
Current ratio 1.02 3.58 2.11
Net debt to EBITDA 0.77 0.14 0.76

Dividend

Metric NESR TDW Oil & Gas Equipment & Services median
Dividend yield — 0.17% 2.12%
Payout ratio — 0.00 0.00

Size

Metric NESR TDW Oil & Gas Equipment & Services median
Market cap 3.30b 4.32b 1.81b

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