National Energy Services Reunited (NESR) financial statements
National Energy Services Reunited reported revenue of $1.3B in fiscal 2025, up 9.7% a year over 5 years.
Net income was $51M.
Free cash flow was $121M.
The diluted share count rose 938% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from National Energy Services Reunited's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | $834M | $877M | $910M | $1.1B | $1.3B | $1.3B |
| Cost of revenue | — | — | — | $756M | $874M | $844M | $997M | $1.1B | $1.2B |
| Gross profit | — | — | — | $78M | $3M | $65M | $149M | $209M | $165M |
| Selling, general and admin | — | — | — | $27M | $28M | $48M | $49M | $52M | $48M |
| Operating income | — | -$4M | — | $35M | -$43M | -$917,000 | $81M | $138M | $98M |
| Interest expense | — | — | — | $16M | $15M | $34M | $46M | $40M | $33M |
| Pre-tax income | — | — | — | $29M | -$61M | -$30M | $30M | $95M | $60M |
| Income tax | — | — | — | $13M | $4M | $7M | $17M | $19M | $9M |
| Net income | $8M | -$3M | $39M | $17M | -$65M | -$36M | $13M | $76M | $51M |
| EPS (diluted) | — | -$0.40 | — | $0.18 | -$0.71 | -$0.39 | $0.13 | $0.80 | $0.52 |
| Diluted shares | — | 10M | — | 89M | 91M | 93M | 95M | 96M | 99M |
| Gross margin | — | — | — | 9.3% | 0.3% | 7.2% | 13.0% | 16.0% | 12.4% |
| Operating margin | — | — | — | 4.2% | -4.9% | -0.1% | 7.0% | 10.6% | 7.4% |
| Net margin | — | — | — | 2.0% | -7.4% | -4.0% | 1.1% | 5.9% | 3.9% |
Balance sheet
Fiscal years, from National Energy Services Reunited's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | — | $741,096 | $73M | $75M | $206M | $79M | $68M | $108M | $125M |
| Receivables | — | — | $99M | $117M | $130M | $149M | $171M | $137M | $178M |
| Inventory | — | — | $79M | $94M | $94M | $111M | $98M | $97M | $95M |
| Total current assets | — | $868,516 | $403M | $511M | $627M | $538M | $542M | $541M | $630M |
| Property, plant and equipment | — | — | $419M | $438M | $426M | $461M | $443M | $438M | $465M |
| Goodwill | — | — | $575M | $621M | $645M | $645M | $645M | $645M | $645M |
| Total assets | — | $231M | $1.5B | $1.7B | $1.8B | $1.8B | $1.8B | $1.8B | $1.9B |
| Total current liabilities | — | $3M | $228M | $436M | $432M | $544M | $533M | $504M | $605M |
| Long-term debt | — | — | $331M | $309M | $509M | $392M | $332M | $254M | $191M |
| Total liabilities | — | $12M | $636M | $827M | $1.0B | $1.0B | $976M | $865M | $884M |
| Shareholders' equity | $382M | $55M | $886M | $944M | $821M | $802M | $821M | $908M | $968M |
| Net debt | — | -$741,096 | $272M | $281M | $312M | $366M | $335M | $215M | $131M |
Cash flow
Fiscal years, from National Energy Services Reunited's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | — | -$865,000 | — | $134M | $128M | $93M | $177M | $229M | $264M |
| Capital spending | — | — | — | — | $107M | $122M | $68M | $105M | $143M |
| Free cash flow | — | — | — | — | $21M | -$30M | $109M | $124M | $121M |
| Stock-based compensation | — | — | — | $8M | $10M | $9M | $7M | $6M | $8M |
| Net borrowing | — | — | — | -$11M | $167M | -$76M | -$43M | -$82M | -$69M |
| Free cash flow margin | — | — | — | — | 2.4% | -3.3% | 9.5% | 9.5% | 9.1% |
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Open NESR in InvestinglyQuestions
What was National Energy Services Reunited's revenue in 2025?
$1.3B in fiscal 2025, from its 10-K filing.
How much free cash flow does National Energy Services Reunited generate?
$121M in fiscal 2025 (operating cash flow minus capital spending).
From National Energy Services Reunited's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.