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NBR

Nabors Industries Ltd.

NBR

Nabors Industries Ltd. • NYSE
$49.87 ▲ 0.04% (+0.02)
Market Cap $726.17 M
52w High $74.14
52w Low $23.27
Dividend Yield 0%
P/E 4.59
Volume 145.04K
Outstanding Shares 14.56M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $818.19M ▼ $90.054M ▼ $258.026M ▲ 31.536% ▲ $18.25 ▲ $634.718M ▲
Q2-2025 $832.788M ▲ $95.448M ▲ $-30.91M ▼ -3.712% ▼ $-3.36 ▼ $248.459M ▲
Q1-2025 $736.186M ▲ $82.541M ▲ $32.988M ▲ 4.481% ▲ $2.35 ▲ $206.345M ▼
Q4-2024 $729.819M ▼ $75.87M ▼ $-53.671M ▲ -7.354% ▲ $-2.6 ▲ $220.545M ▼
Q3-2024 $731.805M $78.38M $-55.825M -7.628% $-6.06 $221.72M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $428.079M ▲ $4.834B ▼ $3.265B ▼ $579.776M ▲
Q2-2025 $387.355M ▼ $5.039B ▼ $3.592B ▼ $307.984M ▼
Q1-2025 $404.109M ▲ $5.05B ▲ $3.604B ▲ $342.66M ▲
Q4-2024 $397.299M ▼ $4.504B ▼ $3.298B ▼ $134.996M ▼
Q3-2024 $459.302M $4.554B $3.32B $191.363M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $302.466M ▲ $207.88M ▲ $166.5M ▲ $-518.171M ▼ $-144.257M ▼ $-2.141M ▲
Q2-2025 $-2.205M ▼ $151.81M ▲ $-135.943M ▼ $-19.39M ▼ $-5.306M ▼ $-27.103M ▲
Q1-2025 $57.179M ▲ $87.735M ▼ $-74.92M ▲ $-1.958M ▼ $10.437M ▲ $-77.217M ▼
Q4-2024 $-61.465M ▼ $148.919M ▲ $-202.242M ▼ $-28K ▲ $-61.997M ▼ $-59.127M ▼
Q3-2024 $-33.087M $143.615M $-126.118M $-25.683M $-9.435M $15.737M

Revenue by Products

Product Q2-2024Q3-2024Q4-2024Q2-2025
Drilling Solutions
Drilling Solutions
 $80.00M ▲$80.00M ▲$150.00M ▲$170.00M ▲
International Drilling
International Drilling
 $360.00M ▲$370.00M ▲$720.00M ▲$380.00M ▼
Other Operating Segment
Other Operating Segment
 $0 ▲$0 ▲$0 ▲$-10.00M ▼
Rig Technologies
Rig Technologies
 $50.00M ▲$50.00M ▲$110.00M ▲$40.00M ▼

Five-Year Company Overview

Income Statement

Income Statement Revenue has recovered well from the downturn a few years ago and is now relatively stable at a healthier level. Profitability at the operating level looks much better than before, suggesting the core business and cost structure have improved. However, the company is still reporting net losses, even if they are far smaller than in the past. The most recent year shows a slight step back from near break-even, which hints at lingering pressures such as interest costs, depreciation, and the cyclicality of drilling activity.

Balance Sheet

Balance Sheet The balance sheet shows a heavy asset base, which is typical for a capital‑intensive drilling company, but it is supported by only a thin layer of equity. Debt remains high, even though it has trended down from peak levels, which means the company is still meaningfully leveraged and exposed to interest and refinancing risk. Cash on hand has come down recently, reducing the cushion against volatility. Overall, the balance sheet has improved versus the worst years, but it still leaves limited room for major setbacks without further restructuring or capital raising.

Cash Flow

Cash Flow Cash generation from day‑to‑day operations has steadily strengthened and is consistently positive, which is a key sign that the business model is functioning despite accounting losses. Free cash flow has generally been positive but modest, showing that after funding its capital‑intensive rig fleet, there is only a small surplus left over. In the most recent year, higher investment spending squeezed free cash flow, indicating a renewed push into equipment and technology upgrades. The pattern points to a business that can mostly fund itself, but with limited flexibility if conditions deteriorate or if large growth projects are pursued all at once.

Competitive Edge

Competitive Edge Nabors holds a strong competitive position built around high‑specification land rigs, advanced automation, and a broad international footprint. Its integrated offering—rigs plus software, drilling solutions, and performance‑based services—makes it more of a technology‑enabled partner than a simple equipment provider. Deep relationships with major oil companies and its joint venture in Saudi Arabia add to its resilience and contract visibility. The main competitive threats are the cyclical nature of drilling demand, pricing pressure when markets soften, and competing drillers that are also upgrading fleets and digital offerings.

Innovation and R&D

Innovation and R&D The company is clearly leaning into technology as its main differentiator, with advanced rig designs, robotics on the drill floor, and a growing software and data platform around RigCLOUD and SmartROS. This creates potential for higher efficiency, safer operations, and more stable, service‑like revenue streams as its tools are deployed on both its own and third‑party rigs. At the same time, Nabors is placing early bets across the energy transition—geothermal, advanced batteries, power solutions, and concentrated solar—which could open new markets but are still unproven commercially and may take years to materially impact results. The innovation strategy is ambitious and forward‑looking, but it requires sustained investment and careful execution to translate into durable returns.

Summary

Overall, Nabors looks like a drilling contractor that has significantly improved its operations and cash generation but still carries the legacy of past losses and high leverage. Operational performance and margins have recovered strongly, yet net income remains negative and the equity base is thin, leaving the company sensitive to downturns in drilling activity or higher financing costs. On the positive side, its technology focus, automated rigs, digital platforms, and global reach give it a clear strategic edge and position it well for complex, high‑spec work. The push into energy transition technologies adds long‑term optionality but also introduces additional execution and capital allocation risk. The story combines a stronger, more modernized core business with a still‑stretched balance sheet and a bold, but uncertain, innovation and transition agenda.

NEWS

November 4, 2025 · 6:41 PM UTC

Nabors Comments on Upgrades to Credit Ratings

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November 4, 2025 · 6:35 PM UTC

Nabors Prices $700 million in Senior Priority Guaranteed Notes

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November 4, 2025 · 8:13 AM UTC

Nabors Announces Offering of $550 million Senior Priority Guaranteed Notes

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November 3, 2025 · 6:45 AM UTC

Nabors Announces SANAD Drilling Joint Venture Receives Notices to Resume Work for Two Rigs

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October 28, 2025 · 4:15 PM UTC

Nabors Announces Third Quarter 2025 Results

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