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NOV

NOV Inc.

NOV

NOV Inc. • NYSE
$15.36 ▲ 1.76% (+0.27)
Market Cap $5.60 B
52w High $16.66
52w Low $10.84
Dividend Yield 0.30%
P/E 15.51
Volume 1.09M
Outstanding Shares 364.76M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $2.176B ▼ $305M ▲ $42M ▼ 1.93% ▼ $0.11 ▼ $184M ▼
Q2-2025 $2.188B ▲ $299M ▲ $108M ▲ 4.936% ▲ $0.29 ▲ $226M ▼
Q1-2025 $2.101B ▼ $286M $73M ▼ 3.475% ▼ $0.19 ▼ $232M ▼
Q4-2024 $2.304B ▲ $286M ▲ $160M ▲ 6.944% ▲ $0.41 ▲ $311M ▲
Q3-2024 $2.191B $275M $130M 5.933% $0.33 $281M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.207B ▲ $11.338B ▼ $4.826B ▲ $6.455B ▼
Q2-2025 $1.08B ▼ $11.363B ▲ $4.805B ▲ $6.504B ▲
Q1-2025 $1.157B ▼ $11.273B ▼ $4.779B ▼ $6.44B ▲
Q4-2024 $1.23B ▲ $11.361B ▼ $4.933B ▲ $6.376B ▼
Q3-2024 $985M $11.422B $4.906B $6.464B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $44M ▼ $352M ▲ $-104M ▼ $-118M ▲ $127M ▲ $245M ▲
Q2-2025 $108M ▲ $191M ▲ $-81M $-198M ▼ $-77M ▼ $108M ▲
Q1-2025 $74M ▼ $135M ▼ $-81M ▲ $-135M ▲ $-73M ▼ $51M ▼
Q4-2024 $161M ▲ $591M ▲ $-163M ▼ $-171M ▼ $245M ▲ $473M ▲
Q3-2024 $130M $359M $-82M $-122M $158M $277M

Revenue by Products

Product Q2-2024Q3-2024Q1-2025Q2-2025
Royalty
Royalty
 $20.00M ▲$20.00M ▲$20.00M ▲$20.00M ▲

Five-Year Company Overview

Income Statement

Income Statement NOV’s income statement shows a clear turnaround from the deep industry downturn a few years ago. Revenue has been climbing steadily as oil and gas activity recovered, and profitability has improved from sizeable losses to solid operating profits. Margins have gradually widened, reflecting better pricing, higher volumes, and cost discipline. One nuance: net profit spiked unusually high in 2023 and then eased in 2024 even though operating performance kept improving, which suggests some one‑off items or tax/financing effects in the prior year. Overall, the trend is from fragile to more durable profitability, but still tied closely to the health of the energy cycle.

Balance Sheet

Balance Sheet The balance sheet looks reasonably sturdy for a cyclical equipment and services provider. Total assets have edged up, equity has rebuilt after prior losses, and debt levels have stayed fairly stable rather than climbing aggressively. Cash balances have moved around but remain meaningful, giving NOV flexibility to manage through downturns and fund ongoing projects. The picture is of a company that has repaired its financial base after a tough period and is not over‑leveraged, though it still depends on maintaining healthy industry conditions to keep strengthening its capital position.

Cash Flow

Cash Flow Cash flow has been volatile, which is typical in this industry, but the direction recently is encouraging. A few years back, operating cash flow and free cash flow were weak and even negative at times despite improving earnings, likely due to swings in inventories, receivables, and project timing. In the most recent year, cash generation jumped sharply, and free cash flow turned clearly positive after covering investment needs. Capital spending has remained relatively modest and consistent. Overall, NOV has shifted from a period of cash strain to one where it is again generating surplus cash, though that could fluctuate if the cycle turns.

Competitive Edge

Competitive Edge NOV’s competitive position rests on being a broad, integrated supplier rather than a niche player. It can outfit much of a drilling operation from top to bottom, and it supports that equipment over its life, which creates switching costs and recurring aftermarket revenue. Its global footprint, long history in rigs and drilling systems, and large installed base on existing rigs give it a meaningful edge versus smaller rivals. However, it competes against very strong peers in a highly cyclical market, so pricing power is not absolute and its “moat” is more about scale, integration, and customer relationships than about complete insulation from competition or downturns.

Innovation and R&D

Innovation and R&D Innovation is a core part of NOV’s story. The company is well known for high‑end drilling hardware, advanced blowout preventers, and downhole tools, but its push into automation and digital platforms may be just as important. Systems that automate drilling, use analytics to detect problems, and apply AI at the rig level aim to cut costs and improve safety for operators. On top of that, NOV is leaning into the energy transition by adapting its technologies to offshore wind, geothermal, carbon capture, and lower‑emission oil and gas solutions. This mix of traditional oilfield tech and newer digital and low‑carbon offerings positions NOV to participate both in today’s hydrocarbon market and in emerging energy applications, though the pace and scale of these new areas remain uncertain.

Summary

Across the financials, NOV looks like a company that has come through a severe cycle, repaired its earnings and balance sheet, and is now benefiting from better industry conditions. Profitability and cash generation have improved meaningfully, and leverage is moderate, though results remain sensitive to oil and gas spending. Competitively, NOV acts as a one‑stop, globally recognized provider with strong aftermarket ties, but it still faces intense competition and sector cyclicality. Its steady investment in drilling technology, automation, and energy‑transition solutions offers potential long‑term upside but also carries execution risk and depends on how fast customers adopt these newer technologies. Overall, NOV appears to be in a healthier, more resilient position than during the last downturn, yet still firmly exposed to the ups and downs of the global energy cycle.

NEWS

November 20, 2025 · 6:30 AM UTC

NOV Declares Regular Quarterly Dividend

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November 19, 2025 · 5:00 PM UTC

NOV Announces Retirement of Clay Williams and Appointment of Jose Bayardo as CEO, Effective January 1, 2026

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November 17, 2025 · 11:44 AM UTC

Armada and NOV Collaborate to Bring AI-Powered Solutions to the Edge

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October 27, 2025 · 5:45 PM UTC

NOV Reports Third Quarter 2025 Results and Appointment of Jose Bayardo to Board of Directors

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September 29, 2025 · 6:30 AM UTC

NOV Announces Third Quarter 2025 Earnings Conference Call

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