NOV (NOV) financial statements
NOV reported revenue of $8.7B in fiscal 2025, up 2.1% a year over 9 years.
Net income was $145M and the operating margin 5.6%, against -33.3% in 2016.
Free cash flow was $876M, and the company returned $190M in dividends and $315M in net buybacks.
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from NOV's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.3B | $7.3B | $8.5B | $8.5B | $6.1B | $5.5B | $7.2B | $8.6B | $8.9B | $8.7B |
| Cost of revenue | $7.4B | $6.4B | $7.0B | $7.6B | $5.7B | $4.8B | $5.9B | $6.8B | $6.9B | $7.0B |
| Gross profit | -$101M | $892M | $1.4B | $845M | $434M | $774M | $1.3B | $1.8B | $2.0B | $1.8B |
| Selling, general and admin | $1.3B | $1.2B | $1.2B | $1.3B | $968M | $908M | $1.1B | $1.2B | $1.1B | $1.2B |
| Operating income | -$2.4B | -$277M | $211M | -$6.3B | -$2.4B | -$134M | $264M | $651M | $876M | $494M |
| Interest expense | $105M | $102M | $93M | $100M | $84M | $77M | $78M | $88M | $91M | $88M |
| Pre-tax income | -$2.6B | -$392M | $41M | -$6.5B | -$2.8B | -$230M | $238M | $612M | $831M | $375M |
| Income tax | -$207M | -$156M | $63M | -$369M | -$242M | $15M | $83M | -$373M | $196M | $224M |
| Net income | -$2.4B | -$237M | -$31M | -$6.1B | -$2.5B | -$250M | $155M | $993M | $635M | $145M |
| EPS (diluted) | -$6.41 | -$0.63 | -$0.08 | -$15.96 | -$6.62 | -$0.65 | $0.39 | $2.50 | $1.60 | $0.39 |
| Diluted shares | 376M | 377M | 378M | 382M | 384M | 386M | 394M | 397M | 396M | 375M |
| Gross margin | -1.4% | 12.2% | 17.1% | 10.0% | 7.1% | 14.0% | 18.4% | 21.4% | 22.7% | 20.2% |
| Operating margin | -33.3% | -3.8% | 2.5% | -74.1% | -39.8% | -2.4% | 3.6% | 7.6% | 9.9% | 5.6% |
| Net margin | -33.3% | -3.2% | -0.4% | -71.9% | -41.7% | -4.5% | 2.1% | 11.6% | 7.2% | 1.7% |
Balance sheet
Fiscal years, from NOV's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $1.4B | $1.4B | $1.4B | $1.2B | $1.7B | $1.6B | $1.1B | $816M | $1.2B | $1.6B |
| Receivables | $2.1B | $2.0B | $2.1B | $1.9B | $1.3B | $1.3B | $1.7B | $1.9B | $1.8B | $1.7B |
| Inventory | $3.3B | $3.0B | $3.0B | $2.2B | $1.4B | $1.3B | $1.8B | $2.2B | $1.9B | $1.8B |
| Total current assets | $7.9B | $7.2B | $7.3B | $6.1B | $5.2B | $4.9B | $5.5B | $5.8B | $5.8B | $5.8B |
| Property, plant and equipment | $3.1B | $3.0B | $2.8B | $2.4B | $1.9B | $1.8B | $1.8B | $1.9B | $1.9B | $2.0B |
| Goodwill | $6.1B | $6.2B | $6.3B | $2.8B | $1.5B | $1.5B | $1.5B | $1.6B | $1.6B | $1.6B |
| Total assets | $21.1B | $20.2B | $19.8B | $13.1B | $9.9B | $9.6B | $10.1B | $11.3B | $11.4B | $11.3B |
| Total current liabilities | $3.0B | $2.4B | $2.3B | $2.2B | $1.9B | $1.9B | $2.4B | $2.4B | $2.3B | $2.4B |
| Long-term debt | $2.7B | $2.7B | $2.5B | $2.0B | $1.8B | $1.7B | $1.7B | $1.7B | $1.7B | $1.7B |
| Total liabilities | $7.1B | $6.0B | $5.9B | $5.3B | $4.7B | $4.5B | $5.0B | $5.1B | $4.9B | $5.0B |
| Shareholders' equity | $13.9B | $14.1B | $13.8B | $7.8B | $5.2B | $5.0B | $5.1B | $6.2B | $6.4B | $6.3B |
| Net debt | $1.8B | $1.3B | $1.1B | $818M | $142M | $122M | $661M | $909M | $510M | $166M |
Cash flow
Fiscal years, from NOV's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $960M | $832M | $521M | $714M | $926M | $291M | -$179M | $143M | $1.3B | $1.3B |
| Capital spending | $284M | $192M | $244M | $233M | $226M | $201M | $214M | $283M | $351M | $375M |
| Free cash flow | $676M | $640M | $277M | $481M | $700M | $90M | -$393M | -$140M | $953M | $876M |
| Stock-based compensation | $107M | $124M | $110M | $130M | $105M | $78M | $67M | $66M | $70M | $67M |
| Dividends paid | $230M | $76M | $76M | $77M | $19M | $20M | $78M | $79M | $108M | $190M |
| Share buybacks (net) | — | — | — | — | — | — | — | — | -$229M | -$315M |
| Net borrowing | -$900M | -$500M | -$8M | -$489M | -$181M | -$123M | $16M | -$8M | -$11M | -$23M |
| Free cash flow margin | 9.3% | 8.8% | 3.3% | 5.7% | 11.5% | 1.6% | -5.4% | -1.6% | 10.7% | 10.0% |
| Dividends per share | $0.61 | $0.20 | $0.20 | $0.20 | $0.05 | $0.05 | $0.20 | $0.20 | $0.27 | $0.51 |
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Open NOV in InvestinglyQuestions
What was NOV's revenue in 2025?
$8.7B in fiscal 2025, from its 10-K filing.
How much free cash flow does NOV generate?
$876M in fiscal 2025 (operating cash flow minus capital spending).
From NOV's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.