SequelSEC

National Energy Services Reunited Corp. NESR

Oil & Gas Field Services, NEC · CIK 0001698514 · Fiscal year ends 1231

AnnualQuarterlyTTM
Revenue
$1.32B
Fiscal year ended 2025-12-31
Operating income
$98.32M
Fiscal year ended 2025-12-31
Free cash flow
Unavailable
Fiscal year ended 2025-12-31

Valuation, from the filing

Public float$411.20MMarket value of stock held by non-affiliates, as stated on the cover page for 2025-12-31
Float per share$4.08Float divided by shares outstanding in the same filing. A floor under the share price on that date, not the price itself.
Float / net income8.0×A lower bound on the multiple, because affiliate holdings are excluded.
Float / revenue0.3×A lower bound on the multiple, because affiliate holdings are excluded.
Float / equity0.4×A lower bound on the multiple, because affiliate holdings are excluded.

Every figure here is drawn from the 10-K cover page and the statements behind it, so each one traces to a filing. Public float counts only stock held by non-affiliates, which makes these floors rather than estimates: a high multiple is conclusive, a low one may mean cheap or may mean closely held. The float was measured on 2025-12-31, not today, and each multiple below it uses the figures for the fiscal year ending 2025-12-31 — the year that filing covered.

How this compares in its industry

Percentile among the Oil & Gas Field Services, NEC filers on this site, highest value first. A high percentile means a large figure, which is good for a margin and not for leverage — the ranking says where the company sits, not whether that is where it should be.

MeasureReportedPercentile
Current ratio1.04x6th
Gross margin12.4%12th
Effective tax rate15.3%18th
Revenue YoY growth1.7%71th
Operating margin7.4%69th
SBC / revenue0.6%31th
Long-term debt / equity0.20x36th
Net margin3.9%60th

National Energy Services Reunited Corp. (NESR) reported revenue of $1.32B and net income of $51.13M for the fiscal year ended 2025-12-31. This page shows 3 annual periods of income statement, balance sheet and cash flow figures normalized from National Energy Services Reunited Corp.’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Oil & Gas Field Services, NEC.

Income

National Energy Services Reunited Corp. income by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-31
Revenue$1.32B$1.30B$1.15B
Cost of revenue$1.16B$1.09B$997.26M
Gross profit$164.73M$208.67M$148.65M
Operating income$98.32M$137.70M$80.70M
Net income$51.13M$76.31M$12.58M
Research & developmentUnavailableUnavailableUnavailable
Weighted-average diluted sharesshares 99.11Mshares 95.74Mshares 94.75M
Pretax income$60.40M$95.50M$29.85M
Income tax expense$9.27M$19.19M$17.27M
Diluted EPS$0.52$0.80$0.13
Selling, general & administrative$47.64M$52.20M$49.17M
General & administrativeUnavailableUnavailableUnavailable
Selling & marketingUnavailableUnavailableUnavailable

Balance

National Energy Services Reunited Corp. balance by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-31
Cash & equivalents$124.80M$107.96M$67.82M
Total assets$1.85B$1.77BUnavailable
Current assets$630.37M$540.52MUnavailable
Total liabilities$883.60M$865.45MUnavailable
Current liabilities$604.92M$503.51MUnavailable
Total equity incl. NCI$967.92M$908.23M$821.49M
Temporary (mezzanine) equityUnavailableUnavailableUnavailable
Inventory$94.83M$96.77MUnavailable
Accounts receivable$178.02M$137.26M$171.27M
Goodwill$645.10M$645.10MUnavailable
Long-term debt$191.38M$254.39MUnavailable
Accounts payableUnavailableUnavailableUnavailable

Cash flow

National Energy Services Reunited Corp. cash flow by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-31
Operating cash flow$264.24M$229.33M$176.96M
Capital expendituresUnavailableUnavailableUnavailable
Investing cash flow-$152.24M-$111.13M-$83.46M
Financing cash flow-$87.26M-$78.06M-$104.53M
Net change in cash$24.74M$40.14M-$11.03M
Stock-based compensation$8.32M$6.03M$6.76M
Common dividends paidUnavailableUnavailableUnavailable
Common share repurchasesUnavailableUnavailableUnavailable
Depreciation & amortization$141.73M$142.78M$142.23M

Derived

National Energy Services Reunited Corp. derived by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-31
Free cash flowUnavailableUnavailableUnavailable
Gross margin12.4%16.0%13.0%
Operating margin7.4%10.6%7.0%
FCF marginUnavailableUnavailableUnavailable
SBC / revenue0.6%0.5%0.6%
Current ratio1.04x1.07xUnavailable
Revenue YoY growth1.7%13.6%Unavailable
Net margin3.9%5.9%1.1%
R&D / revenueUnavailableUnavailableUnavailable
CapEx / revenueUnavailableUnavailableUnavailable
Long-term debt / equity0.20xUnavailableUnavailable
Effective tax rate15.3%20.1%57.9%

Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open NESR in the interactive workspace to inspect any figure back to its filing.

Source filings

10-Q · Filed 2026-08-10View SEC filing
10-Q · Filed 2026-05-11View SEC filing
10-K · Filed 2026-03-06View SEC filing
10-Q · Filed 2018-05-14View SEC filing
10-K · Filed 2018-03-27View SEC filing
10-Q · Filed 2017-11-14View SEC filing

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Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.