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DNOW

Dnow Inc.

DNOW

Dnow Inc. • NYSE
$13.96 ▲ 0.65% (+0.09)
Market Cap $1.47 B
52w High $18.45
52w Low $12.01
Dividend Yield 0%
P/E 16.05
Volume 683.81K
Outstanding Shares 105.01M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $634M ▲ $112M ▲ $25M 3.943% ▼ $0.23 ▼ $43M ▲
Q2-2025 $628M ▲ $105M ▼ $25M ▲ 3.981% ▲ $0.24 ▲ $42M ▲
Q1-2025 $599M ▲ $109M ▲ $22M ▼ 3.673% ▼ $0.2 ▲ $41M ▲
Q4-2024 $571M ▼ $104M ▼ $23M ▲ 4.028% ▲ $-0.54 ▼ $40M ▲
Q3-2024 $606M $112M $13M 2.145% $0.12 $36M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $266M ▲ $1.66B ▼ $475M ▼ $1.182B ▲
Q2-2025 $232M ▲ $1.661B ▲ $500M ▼ $1.156B ▲
Q1-2025 $219M ▼ $1.651B ▲ $507M ▲ $1.139B ▲
Q4-2024 $256M ▼ $1.621B ▲ $493M ▲ $1.124B ▲
Q3-2024 $261M $1.587B $469M $1.114B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $25M $43M ▼ $-3M ▲ $-5M ▲ $34M ▲ $39M ▼
Q2-2025 $25M ▲ $45M ▲ $-11M ▼ $-23M ▼ $13M ▲ $41M ▲
Q1-2025 $23M $-16M ▼ $-5M ▲ $-17M ▼ $-37M ▼ $-22M ▼
Q4-2024 $23M ▲ $122M ▲ $-114M ▼ $-8M ▲ $-5M ▼ $119M ▲
Q3-2024 $15M $74M $-2M $-10M $64M $72M

Five-Year Company Overview

Income Statement

Income Statement DNOW’s revenue has been climbing steadily over the past several years, showing a business that is growing rather than shrinking. Profitability has improved meaningfully since the downturn earlier in the decade, with gross profit and operating profit both moving in the right direction. That said, earnings have been somewhat uneven, with one particularly strong year followed by a more modest profit, hinting at some one‑off items and the natural volatility of the energy services space. Overall, the company now appears to be consistently profitable, but not immune to swings in customer spending and industry cycles.

Balance Sheet

Balance Sheet The balance sheet looks conservative and steadily stronger over time. Total assets and shareholders’ equity have both been rising, which points to gradual, retained growth rather than heavy financial engineering. Debt levels are very low, suggesting limited reliance on borrowing and giving the company financial flexibility in a cyclical industry. Cash balances are healthy relative to the size of the business, which provides a cushion against downturns and room to fund integration efforts and selective investments.

Cash Flow

Cash Flow DNOW’s cash generation has improved from earlier, more challenging years. Operating cash flow is now solidly positive in most recent periods, and free cash flow has generally followed suit, helped by relatively light capital spending needs. This means the company is largely able to fund itself, support working capital, and still have cash left over for strategic initiatives. The one weak year in operating cash flow serves as a reminder that cash can still fluctuate with industry conditions and inventory movements, but the recent trend is constructive.

Competitive Edge

Competitive Edge DNOW holds a strong position as a key distributor and supply‑chain partner to energy and industrial customers. Its broad product offering, deep supplier relationships, and extensive global distribution network create meaningful scale advantages that are hard for smaller rivals to match. The merger with MRC Global further boosts its size, reach, and bargaining power, while also expanding its customer base and product breadth. However, integration risk, exposure to energy cycles, and competition from both global peers and local distributors remain important watch points.

Innovation and R&D

Innovation and R&D The DigitalNOW platform is at the heart of DNOW’s innovation story, turning a traditional distribution business into a more technology‑driven service provider. Tools like automated inventory management and digital tracking of equipment maintenance help customers reduce downtime and manage materials more efficiently, deepening DNOW’s relationships and making them harder to displace. The company is also using data analytics and elements of AI to add insight on spending and performance, moving beyond simple product sales. In parallel, DNOW is investing in solutions tied to energy transition and electrical infrastructure, though these areas are still evolving and will require ongoing innovation to stay ahead of competitors.

Summary

DNOW has transitioned from a period of losses earlier in the decade to a phase of steady growth and consistent profitability, supported by a conservative balance sheet and improving cash flow. Its competitive edge stems from scale, supply‑chain capabilities, and a growing digital ecosystem that makes its services more embedded with customers. The combination with MRC Global is a major swing factor, offering meaningful upside from scale and cost efficiencies but also adding integration complexity. Looking ahead, DNOW’s ability to keep advancing its digital tools, successfully integrate acquisitions, and navigate the ups and downs of the energy market will be key drivers of its financial and strategic performance.

NEWS

November 6, 2025 · 9:02 AM UTC

DNOW Completes Combination with MRC Global

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November 5, 2025 · 6:45 AM UTC

DNOW Reports Third Quarter 2025 Results

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November 3, 2025 · 12:01 AM UTC

DNOW Announces Third Quarter 2025 Earnings Conference Call

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October 13, 2025 · 6:45 AM UTC

DNOW Announces Future Leadership Team for Combined Company

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