Price as of close on Nov 3, 2026 · Financials updated Oct 10, 2026
Basics
Sector
Energy
Industry
Oil & Gas Equipment & Services
Country
United States
Market cap
6.6B USD
Enterprise value
7.3B USD
Full-time employees
31,605
Overall health
Drawback:less profitable than most peersless profitable than peers
Drawback:growing more slowly than most peersgrowing more slowly than peers
Drawback:its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback:its share price swings more than most peers’ (beta 0.98 vs a peer median of 0.57), though less than the overall marketbigger price swings (beta 0.98 vs peers 0.57)
Valuation signals disagree. Cheaper than 67% of peers on free cash flow, but only 23% on earnings.
Relative to its free cash flow, NOV looks cheaper than 67% of peers; relative to its earnings, cheaper than only 23%. The valuation score blends the two, so look at which measure fits this business best.
Profits growing faster than sales. Since 2022: revenue +21%, operating profit +87%.
Since 2022, NOV's revenue grew 21% while operating profit grew 87%: each extra dollar of sales is adding more profit.
Share count shrinking. Shares outstanding down 9.3% from December 2022 to July 2026.
NOV had 9.3% fewer shares at July 2026 than at December 2022, mainly through buybacks, so each remaining share owns a larger slice of the business.
Cash flow well above reported profit. Free cash flow is 5.9× reported profit.
Free cash flow is 5.9× reported profit. Large non-cash charges, such as depreciation, amortization or stock-based pay, reduce reported profit without using cash.
Since last quarter: No major changeValuation also moves with the share price every day.
Why it changed since the Oct 27, 2026 close: Score 32 → 35
Share price -10.0%+6
Company's reported figures updated-1
Peer companies moved-2
Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.
Why it changed since the Oct 27, 2026 close: Score 21 → 22
Peer companies moved+1
Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.
Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.
Questions investors ask about NOV
Is NOV getting weaker?
Its latest SEC filing (Jul 29, 2026) showed no major changes. Its overall score is 38/100, up 1 since Oct 28, 2026.
How is NOV valued vs its peers?
Priced higher than most peers relative to what it earns. Valuation scores 35/100 against 404 energy peers.Free cash flow yield 8.5% vs a peer median of 6.2% (stronger than 67% of peers).Free cash flow yield 8.5% vs peers 6.2% (stronger than 67% of peers).Earnings yield 1.4% vs a peer median of 5.2% (weaker than 77% of peers).Earnings yield 1.4% vs peers 5.2% (weaker than 77% of peers).
Is NOV growing?
More slowly than most of its peers. Growth scores 25/100 against 404 energy peers.3-year revenue growth 2.5% vs a peer median of -1.3% (stronger than 63% of peers).3-year revenue growth 2.5% vs peers -1.3% (stronger than 63% of peers).Earnings per share growth -79.0% vs a peer median of 1.1% (weaker than 95% of peers).Earnings per share growth -79.0% vs peers 1.1% (weaker than 95% of peers).
How profitable is NOV?
Less profitable than most of its peers. Profitability scores 22/100 against 404 energy peers.Return on assets 0.8% vs a peer median of 4.4% (weaker than 80% of peers).Return on assets 0.8% vs peers 4.4% (weaker than 80% of peers).
How risky is NOV?
Lower risk relative to 404 energy peers, judged on debt, liquidity and share-price swings.Current ratio 2.42× vs a peer median of 1.37× (stronger than 81% of peers).Current ratio 2.42× vs peers 1.37× (stronger than 81% of peers).Beta 0.98 vs a peer median of 0.57 (weaker than 83% of peers).Beta 0.98 vs peers 0.57 (weaker than 83% of peers). A relative measure, not a bankruptcy probability.
Latest filing: what changed
Quarter ended Jun 30, 2026 · filed Jul 29, 2026 · compared with the quarter ended Mar 31, 2026
No major changes
Previous quarter
Latest quarter
Change
Revenue (12 months)
8.7B USD
8.6B USD
−0.6%
Net income (12 months)
91.0M USD
95.0M USD
+4.4%
Operating margin
4.5%
5.1%
+0.6 pts
Free cash flow (12 months)
734.0M USD
562.0M USD
−23.4%
Debt
1.7B USD
1.7B USD
−0.5%
Cash
1.3B USD
1.2B USD
−13.3%
Shares outstanding
358.9M
356.5M
−0.7%
From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.
Industry valuation context
Sector: Energy · 117 companies
Valuations in Energy are above their usual range since 2016.
71% of months since 2016 were valued lower than now.
41% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +37% and earnings +10% (medians): prices rose faster than earnings.
Median price-to-sales is −30% vs the whole market, against a usual −35%.
2016Shaded: most expensive fifth of its range2026
Shown for Energy: too few Oil & Gas Equipment & Services companies have a long enough history of their own.
This is a cyclical group: after a downturn, trailing earnings and sales fall faster than prices, which can make valuations look high near a cycle's low.
Describes valuations since 2016; it does not predict prices. US companies worth $1B+, from SEC filings and month-end prices, as of Aug 2026. Today's companies and industry labels are used throughout. Measured on earnings, EBITDA, sales and free cash flow yields. How this works
Financials
Fiscal years from SEC annual filings · change vs the prior year
Key ratios
FY 2021
FY 2022
FY 2023
FY 2024
FY 2025
Change
Gross margin
14.0%
18.4%
21.4%
22.7%
20.2%
▼ 2.5 pts
Operating margin
-2.4%
3.6%
7.6%
9.9%
5.6%
▼ 4.2 pts
Net margin
-4.5%
2.1%
11.6%
7.2%
1.7%
▼ 5.5 pts
Return on assets (ROA)
-2.6%
1.5%
8.8%
5.6%
1.3%
▼ 4.3 pts
Return on equity (ROE)
-5.0%
3.0%
16.1%
10.0%
2.3%
▼ 7.6 pts
Free cash flow margin
1.6%
-5.4%
-1.6%
10.7%
10.0%
▼ 0.7 pts
Current ratio
2.57×
2.25×
2.40×
2.46×
2.42×
▼ 1.6%
Quick ratio
1.87×
1.51×
1.51×
1.64×
1.67×
▲ 2.2%
Debt to equity
0.34×
0.34×
0.28×
0.27×
0.27×
▲ 0.4%
Interest coverage
-1.74×
3.38×
7.40×
9.63×
5.61×
▼ 42%
NOV price history
Price history is added with the daily price update and will appear after the next one.