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NINE

Nine Energy Service, Inc.

NINE

Nine Energy Service, Inc. • NYSE
$0.46 ▲ 3.12% (+0.01)
Market Cap $20.04 M
52w High $1.85
52w Low $0.37
Dividend Yield 0%
P/E -0.46
Volume 270.75K
Outstanding Shares 43.34M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $132.028M ▼ $12.913M ▼ $-14.647M ▼ -11.094% ▼ $-0.35 ▼ $11.644M ▼
Q2-2025 $147.251M ▼ $13.568M ▼ $-10.391M ▼ -7.057% ▼ $-0.25 ▼ $16.193M ▼
Q1-2025 $150.466M ▲ $13.734M ▼ $-7.061M ▲ -4.693% ▲ $-0.18 ▲ $17.981M ▲
Q4-2024 $141.426M ▲ $13.869M ▲ $-8.843M ▲ -6.253% ▲ $-0.22 ▲ $15.992M ▲
Q3-2024 $138.157M $13.233M $-10.143M -7.342% $-0.26 $15.148M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $14.389M ▼ $340.701M ▼ $436.567M ▼ $-95.866M ▼
Q2-2025 $17.755M ▲ $361.165M ▲ $442.902M ▲ $-81.737M ▼
Q1-2025 $17.275M ▼ $359.181M ▼ $431.294M ▲ $-72.113M ▼
Q4-2024 $27.88M ▲ $360.076M ▲ $426.14M ▲ $-66.064M ▼
Q3-2024 $15.652M $353.232M $410.793M $-57.561M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-14.647M ▼ $-9.944M ▼ $-3.416M ▲ $12.03M ▲ $-1.28M ▼ $-13.415M ▼
Q2-2025 $-10.391M ▼ $10.088M ▲ $-5.765M ▼ $-3.915M ▼ $480K ▲ $4.216M ▲
Q1-2025 $-7.061M ▲ $-5.277M ▼ $-3.981M ▼ $-1.556M ▼ $-10.605M ▼ $-9.258M ▼
Q4-2024 $-8.843M ▲ $14.988M ▲ $-3.002M ▲ $433K ▲ $12.228M ▲ $11.753M ▲
Q3-2024 $-10.143M $-5.85M $-3.083M $-1.397M $-10.375M $-9.251M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Cement
Cement
 $100.00M ▲$60.00M ▼$50.00M ▼$50.00M ▲
Coiled Tubing
Coiled Tubing
 $50.00M ▲$30.00M ▼$30.00M ▲$20.00M ▼
Service Revenue
Service Revenue
 $310.00M ▲$120.00M ▼$110.00M ▼$100.00M ▼
Tool Revenue
Tool Revenue
 $100.00M ▲$30.00M ▼$40.00M ▲$30.00M ▼
Tools
Tools
 $70.00M ▲$30.00M ▼$40.00M ▲$30.00M ▼
Wireline
Wireline
 $60.00M ▲$30.00M ▼$30.00M ▲$30.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has been fairly steady over the last few years, rising from the industry downturn and then easing slightly most recently. The company has moved from deep losses to results that are much closer to break-even at the operating level, which shows real operational improvement. However, net income has slipped back into losses after only a brief return to profitability, and profit margins remain thin and sensitive to activity levels and pricing in the oilfield services market.

Balance Sheet

Balance Sheet The balance sheet looks stretched. Total assets have stayed fairly stable, but debt remains high and shareholder equity has turned negative, reflecting accumulated past losses and a leveraged capital structure. Cash on hand is modest, which limits flexibility and makes the company more exposed if market conditions weaken or if credit becomes harder to access, despite the new revolving credit facility. The NYSE compliance issue around equity underlines these financial pressures.

Cash Flow

Cash Flow Cash generation from the core business has improved from the downturn years, with operating cash flow generally positive in recent periods. Free cash flow has hovered around break-even, helped by relatively low capital spending that fits the company’s asset-light strategy. This means the company can usually fund its modest investment needs, but it is not producing a large cash cushion to quickly reduce debt or absorb a sharp downturn, so cash flow quality and stability remain key things to watch.

Competitive Edge

Competitive Edge Nine occupies a focused niche in completion and production services, particularly for complex, unconventional wells. Its dissolvable and hybrid frac plug technologies, along with expertise in challenging long-lateral wells, give it a differentiated offering versus more generic service providers. An asset-light model and “stickier” service lines can help with customer retention and returns. At the same time, it competes in a highly cyclical, price-sensitive market against much larger oilfield service companies, and its smaller scale and financial constraints can limit its bargaining power and resilience.

Innovation and R&D

Innovation and R&D Innovation is clearly a central part of Nine’s strategy. The company has built a strong reputation around dissolvable plugs, hybrid and composite tools, and technologically advanced cementing and wireline solutions, backed by patents and specialized material science. A dedicated testing facility and R&D teams, including work in Norway and efforts to address refrac and international markets, suggest a healthy development pipeline. The main tension is that sustaining high levels of R&D and international expansion requires ongoing cash and balance sheet strength, which currently look tight.

Summary

Nine Energy Service has made notable operational progress since the severe downturn years, with steadier revenue and much smaller operating losses, but it remains only marginally profitable and still reports net losses. The balance sheet is highly leveraged with negative equity, modest cash, and an exchange-listing compliance overhang, which together represent meaningful financial risk. On the positive side, the company appears to have a real technological edge and strong know-how in complex well completions, complemented by an asset-light model and a clear focus on innovation and international growth. The overall picture is a technologically differentiated, niche oilfield services player with promising tools and capabilities, but also a fragile financial position that makes its performance and capital structure key variables to monitor closely.

NEWS

November 26, 2025 · 10:04 AM UTC

Nine Mile Metals Announces Completion of DDH WD-25-01 and Confirms Two Zones of VMS Mineralization at the Wedge Project

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November 5, 2025 · 8:15 AM UTC

Nine Mile Metals Announces Phase 3 XRF High-Grade Results up to 26.14% Copper with 1.03% Antimony from the Upper Pre Drill Area at the Wedge Copper - Gold Project, BMC, NB

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November 3, 2025 · 8:15 AM UTC

Nine Mile Metals Announces Drill Rig Mobilization for the Wedge Copper - Gold Drill Program

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October 30, 2025 · 5:15 PM UTC

Nine Energy Service Announces Third Quarter 2025 Results

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October 21, 2025 · 8:05 AM UTC

Mission Critical Group Appoints Julie Peffer as Chief Financial Officer

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