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Stocks · Energy · Drilling Oil & Gas Wells

NABORS INDUSTRIES LTD

NBR Clue Score53
Bermuda Fiscal year ends December CIK 0001163739
$80.67 -1.09% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $80.67 −28.29% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue2,227.8Operating income−118.3Net income−1,029.7EPS, diluted−3.64Fiscal year 2017Revenue2,564.3 +15.1%Operating income−141.9Net income−546.8EPS, diluted−1.90Fiscal year 2018Revenue3,057.6 +19.2%Operating income58.6Net income−640.9EPS, diluted−99.61Fiscal year 2019Revenue3,043.4 −0.5%Operating income89.1Net income−702.9EPS, diluted−105.39Fiscal year 2020Revenue2,134.0 −29.9%Operating income−171.5Net income−805.6EPS, diluted−118.69Fiscal year 2021Revenue2,017.5 −5.5%Operating income−80.8Net income−569.3EPS, diluted−76.58Fiscal year 2022Revenue2,653.8 +31.5%Operating income44.3Net income−350.3EPS, diluted−40.52Fiscal year 2023Revenue3,006.0 +13.3%Operating income433.7Net income−11.8EPS, diluted−5.49Fiscal year 2024Revenue2,930.1 −2.5%Operating income416.8Net income−176.1EPS, diluted−22.37Fiscal year 2025Revenue3,184.7 +8.7%Operating income471.1Net income286.6EPS, diluted17.39
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 2,227.8 2,564.3 3,057.6 3,043.4 2,134.0 2,017.5 2,653.8 3,006.0 2,930.1 3,184.7
Growth +15.1% +19.2% −0.5% −29.9% −5.5% +31.5% +13.3% −2.5% +8.7%
Operating income −118.3 −141.9 58.6 89.1 −171.5 −80.8 44.3 433.7 416.8 471.1
Net income −1,029.7 −546.8 −640.9 −702.9 −805.6 −569.3 −350.3 −11.8 −176.1 286.6
Growth
EPS, diluted −3.64 −1.90 −99.61 −105.39 −118.69 −76.58 −40.52 −5.49 −22.37 17.39

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin−5.3%Net margin−46.2%Free cash flow margin6.1%Fiscal year 2017Operating margin−5.5%Net margin−21.3%Free cash flow margin−20.0%Fiscal year 2018Operating margin1.9%Net margin−21.0%Free cash flow margin−4.4%Fiscal year 2019Operating margin2.9%Net margin−23.1%Free cash flow margin8.4%Fiscal year 2020Operating margin−8.0%Net margin−37.8%Free cash flow margin7.2%Fiscal year 2021Operating margin−4.0%Net margin−28.2%Free cash flow margin9.7%Fiscal year 2022Operating margin1.7%Net margin−13.2%Free cash flow margin4.8%Fiscal year 2023Operating margin14.4%Net margin−0.4%Free cash flow margin3.2%Fiscal year 2024Operating margin14.2%Net margin−6.0%Free cash flow margin0.5%Fiscal year 2025Operating margin14.8%Net margin9.0%Free cash flow margin−0.7%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin −5.3% −5.5% 1.9% 2.9% −8.0% −4.0% 1.7% 14.4% 14.2% 14.8%
Net margin −46.2% −21.3% −21.0% −23.1% −37.8% −28.2% −13.2% −0.4% −6.0% 9.0%
Free cash flow margin 6.1% −20.0% −4.4% 8.4% 7.2% 9.7% 4.8% 3.2% 0.5% −0.7%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow531.9Capital expenditure−395.5Free cash flow136.5Buybacks−1.7Dividends paid−50.9Fiscal year 2017Operating cash flow62.8Capital expenditure−574.5Free cash flow−511.7 −475.0%Buybacks−18.1Dividends paid−68.5Fiscal year 2018Operating cash flow325.8Capital expenditure−458.9Free cash flow−133.2Fiscal year 2019Operating cash flow684.6Capital expenditure−427.7Free cash flow256.8Fiscal year 2020Operating cash flow349.8Capital expenditure−195.5Free cash flow154.2 −39.9%Dividends paid−22.5Fiscal year 2021Operating cash flow428.8Capital expenditure−234.0Free cash flow194.7 +26.3%Dividends paid−7.4Fiscal year 2022Operating cash flow501.1Capital expenditure−373.4Free cash flow127.6 −34.5%Dividends paid−0.1Fiscal year 2023Operating cash flow637.9Capital expenditure−540.9Free cash flow97.0 −24.0%Dividends paid−0.2Fiscal year 2024Operating cash flow581.4Capital expenditure−567.9Free cash flow13.5 −86.1%Dividends paid−0.1Fiscal year 2025Operating cash flow693.3Capital expenditure−715.9Free cash flow−22.7 −267.9%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 531.9 62.8 325.8 684.6 349.8 428.8 501.1 637.9 581.4 693.3
Capital expenditure −395.5 −574.5 −458.9 −427.7 −195.5 −234.0 −373.4 −540.9 −567.9 −715.9
Free cash flow 136.5 −511.7 −133.2 256.8 154.2 194.7 127.6 97.0 13.5 −22.7
Growth −475.0% −39.9% +26.3% −34.5% −24.0% −86.1% −267.9%
Buybacks −1.7 −18.1 n/a n/a n/a n/a n/a n/a n/a n/a
Dividends paid −50.9 −68.5 n/a n/a −22.5 −7.4 −0.1 −0.2 −0.1 n/a

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash264.1Total debt3,578.3Net cash (debt)−3,314.2Shareholders’ equity3,247.0Debt to equity1.10Fiscal year 2017Cash337.0Total debt4,027.8Net cash (debt)−3,690.8Shareholders’ equity2,911.8Debt to equity1.38Fiscal year 2018Cash447.8Total debt3,585.9Net cash (debt)−3,138.1Shareholders’ equity2,700.9Debt to equity1.33Fiscal year 2019Cash436.0Total debt3,333.2Net cash (debt)−2,897.2Shareholders’ equity1,982.8Debt to equity1.68Fiscal year 2020Cash472.2Total debt2,968.7Net cash (debt)−2,496.5Shareholders’ equity1,151.4Debt to equity2.58Fiscal year 2021Cash991.5Total debt3,262.8Net cash (debt)−2,271.3Shareholders’ equity590.7Debt to equity5.52Fiscal year 2022Cash451.0Total debt2,537.5Net cash (debt)−2,086.5Shareholders’ equity369.0Debt to equity6.88Fiscal year 2023Cash1,057.5Total debt3,141.1Net cash (debt)−2,083.7Shareholders’ equity326.6Debt to equity9.62Fiscal year 2024Cash389.7Total debt2,505.2Net cash (debt)−2,115.6Shareholders’ equity135.0Debt to equity18.56Fiscal year 2025Cash940.7Total debt2,494.7Net cash (debt)−1,554.0Shareholders’ equity590.7Debt to equity4.22
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 264.1 337.0 447.8 436.0 472.2 991.5 451.0 1,057.5 389.7 940.7
Total debt 3,578.3 4,027.8 3,585.9 3,333.2 2,968.7 3,262.8 2,537.5 3,141.1 2,505.2 2,494.7
Net cash (debt) −3,314.2 −3,690.8 −3,138.1 −2,897.2 −2,496.5 −2,271.3 −2,086.5 −2,083.7 −2,115.6 −1,554.0
Shareholders’ equity 3,247.0 2,911.8 2,700.9 1,982.8 1,151.4 590.7 369.0 326.6 135.0 590.7
Debt to equity 1.10 1.38 1.33 1.68 2.58 5.52 6.88 9.62 18.56 4.22

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
−5.3% −5.5% 1.9% 2.9% −8.0% −4.0% 1.7% 14.4% 14.2% 14.8%
−53.8% −22.6% −17.0% −19.4% −33.1% −24.2% −9.3% 4.3% −1.1% 16.9%
−46.2% −21.3% −21.0% −23.1% −37.8% −28.2% −13.2% −0.4% −6.0% 9.0%
6.1% −20.0% −4.4% 8.4% 7.2% 9.7% 4.8% 3.2% 0.5% −0.7%
Spending
1.5% 2.0% 1.8% 1.7% 1.6% 1.7% 1.9% 1.9% 1.9% 1.7%
10.2% 9.8% 8.7% 8.5% 9.5% 10.6% 8.6% 8.1% 8.5% 9.6%
17.8% 22.4% 15.0% 14.1% 9.2% 11.6% 14.1% 18.0% 19.4% 22.5%
n/a n/a n/a n/a n/a n/a n/a 61.4% n/a 30.3%
Returns
−31.7% −18.8% −23.7% −35.4% −70.0% −96.4% −94.9% −3.6% −130.4% 48.5%
−12.6% −6.5% −8.2% −10.4% −14.6% −10.3% −7.4% −0.2% −3.9% 6.0%
Balance and payout
1.10 1.38 1.33 1.68 2.58 5.52 6.88 9.62 18.56 4.22
60.2% 62.6% 59.8% 63.4% 69.1% 74.8% 74.3% 75.7% 73.2% 70.0%
38.6% n/a n/a n/a 14.6% 3.8% 0.1% 0.2% 0.6% n/a