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Stocks · Energy · Oil & Gas Field Services, NEC

National Energy Services Reunited Corp.

NESR Clue Score56
United States Fiscal year ends December CIK 0001698514
$22.78 -1.98% Close, 9 Oct 2026
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Price $22.78 +89.99% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 5 Jun 2017. 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 2016Net income8.4Fiscal year 2017Operating income−4.2Net income−2.9 −134.3%Fiscal year 2019Net income39.4Fiscal year 2020Revenue834.2Operating income35.3Net income16.6 −57.9%EPS, diluted0.18Fiscal year 2021Revenue876.7 +5.1%Operating income−43.3Net income−64.6 −490.0%EPS, diluted−0.71 −494.4%Fiscal year 2022Revenue909.5 +3.7%Operating income−0.9Net income−36.4EPS, diluted−0.39Fiscal year 2023Revenue1,145.9 +26.0%Operating income80.7Net income12.6EPS, diluted0.13Fiscal year 2024Revenue1,301.7 +13.6%Operating income137.7Net income76.3 +506.6%EPS, diluted0.80 +515.4%Fiscal year 2025Revenue1,324.0 +1.7%Operating income98.3Net income51.1 −33.0%EPS, diluted0.52 −35.0%
FY2016FY2017FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue n/a n/a n/a 834.2 876.7 909.5 1,145.9 1,301.7 1,324.0
Growth +5.1% +3.7% +26.0% +13.6% +1.7%
Operating income n/a −4.2 n/a 35.3 −43.3 −0.9 80.7 137.7 98.3
Net income 8.4 −2.9 39.4 16.6 −64.6 −36.4 12.6 76.3 51.1
Growth −134.3% −57.9% −490.0% +506.6% −33.0%
EPS, diluted n/a n/a n/a 0.18 −0.71 −0.39 0.13 0.80 0.52
Growth −494.4% +515.4% −35.0%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Fiscal year 2017Fiscal year 2019Fiscal year 2020Gross margin9.3%Operating margin4.2%Net margin2.0%Fiscal year 2021Gross margin0.3%Operating margin−4.9%Net margin−7.4%Free cash flow margin2.4%Fiscal year 2022Gross margin7.2%Operating margin−0.1%Net margin−4.0%Free cash flow margin−3.3%Fiscal year 2023Gross margin13.0%Operating margin7.0%Net margin1.1%Free cash flow margin9.5%Fiscal year 2024Gross margin16.0%Operating margin10.6%Net margin5.9%Free cash flow margin9.5%Fiscal year 2025Gross margin12.4%Operating margin7.4%Net margin3.9%Free cash flow margin9.1%
FY2016FY2017FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin n/a n/a n/a 9.3% 0.3% 7.2% 13.0% 16.0% 12.4%
Operating margin n/a n/a n/a 4.2% −4.9% −0.1% 7.0% 10.6% 7.4%
Net margin n/a n/a n/a 2.0% −7.4% −4.0% 1.1% 5.9% 3.9%
Free cash flow margin n/a n/a n/a n/a 2.4% −3.3% 9.5% 9.5% 9.1%

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 2016Fiscal year 2017Operating cash flow−0.9Fiscal year 2019Fiscal year 2020Operating cash flow134.5Fiscal year 2021Operating cash flow127.7Capital expenditure−107.1Free cash flow20.7Fiscal year 2022Operating cash flow92.6Capital expenditure−122.4Free cash flow−29.8 −244.4%Fiscal year 2023Operating cash flow177.0Capital expenditure−68.2Free cash flow108.8Fiscal year 2024Operating cash flow229.3Capital expenditure−105.1Free cash flow124.2 +14.2%Fiscal year 2025Operating cash flow264.2Capital expenditure−143.5Free cash flow120.8 −2.8%
FY2016FY2017FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow n/a −0.9 n/a 134.5 127.7 92.6 177.0 229.3 264.2
Capital expenditure n/a n/a n/a n/a −107.1 −122.4 −68.2 −105.1 −143.5
Free cash flow n/a n/a n/a n/a 20.7 −29.8 108.8 124.2 120.8
Growth −244.4% +14.2% −2.8%

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Shareholders’ equity382.1Fiscal year 2017Cash0.7Shareholders’ equity54.6Fiscal year 2019Cash73.2Total debt345.6Net cash (debt)−272.4Shareholders’ equity886.5Debt to equity0.39Fiscal year 2020Cash75.0Total debt356.1Net cash (debt)−281.1Shareholders’ equity944.4Debt to equity0.38Fiscal year 2021Cash205.8Total debt517.5Net cash (debt)−311.7Shareholders’ equity821.0Debt to equity0.63Fiscal year 2022Cash78.9Total debt445.2Net cash (debt)−366.4Shareholders’ equity802.3Debt to equity0.55Fiscal year 2023Cash67.8Total debt403.3Net cash (debt)−335.5Shareholders’ equity821.5Debt to equity0.49Fiscal year 2024Cash108.0Total debt323.1Net cash (debt)−215.2Shareholders’ equity908.2Debt to equity0.36Fiscal year 2025Cash124.8Total debt255.9Net cash (debt)−131.1Shareholders’ equity967.9Debt to equity0.26
FY2016FY2017FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash n/a 0.7 73.2 75.0 205.8 78.9 67.8 108.0 124.8
Total debt n/a n/a 345.6 356.1 517.5 445.2 403.3 323.1 255.9
Net cash (debt) n/a n/a −272.4 −281.1 −311.7 −366.4 −335.5 −215.2 −131.1
Shareholders’ equity 382.1 54.6 886.5 944.4 821.0 802.3 821.5 908.2 967.9
Debt to equity n/a n/a 0.39 0.38 0.63 0.55 0.49 0.36 0.26

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

Financial statements FY2025 · 10-K

Balance sheet

In millions of USD, except per-share figures; shares in millions. 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 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
Assets
n/a 0.7 73.2 75.0 205.8 78.9 67.8 108.0 124.8
n/a n/a 98.8 116.8 130.4 148.7 171.3 137.3 178.0
n/a n/a 78.8 94.3 93.9 110.5 98.4 96.8 94.8
n/a n/a 419.3 437.7 425.5 461.1 442.7 438.1 465.5
n/a n/a 574.8 620.9 645.1 645.1 645.1 645.1 645.1
n/a 231.4 1,522.4 1,686.5 1,831.3 1,828.3 1,797.7 1,773.7 1,851.5
Growth +557.8% +10.8% +8.6% −0.2% −1.7% −1.3% +4.4%
Liabilities
n/a n/a 15.0 47.5 8.8 53.4 71.7 68.7 64.5
n/a n/a 330.6 308.6 508.8 391.9 331.6 254.4 191.4
calc n/a n/a 345.6 356.1 517.5 445.2 403.3 323.1 255.9
n/a 12.5 635.9 826.6 1,010.3 1,026.0 976.2 865.4 883.6
Equity
n/a −2.9 67.7 28.7 −35.8 −75.0 −62.4 13.9 65.0
382.1 54.6 886.5 944.4 821.0 802.3 821.5 908.2 967.9
Growth −85.7% +1,522.3% +6.5% −13.1% −2.3% +2.4% +10.6% +6.6%
Per share and net cash
calc n/a n/a −272.4 −281.1 −311.7 −366.4 −335.5 −215.2 −131.1
6.0 11.7 87.2 87.8 91.4 94.0 95.0 96.0 100.8
calc 63.28 4.66 10.17 10.76 8.99 8.53 8.65 9.46 9.60

Lines marked calc are worked out here from filed figures; point at one for how.