NOV Inc.
Description
NOV Inc. designs, constructs, manufactures, and sells systems, components, and products for oil and gas drilling and production, and industrial and renewable energy sectors in the United States and internationally. It operates through two segments, Energy Equipment, and Energy Products and Services. The company provides solids control and waste management equipment and services, managed pressure drilling, drilling fluids, premium drillpipe, wired pipe, drilling optimization services, tubular inspection and coating services, instrumentation, downhole tools, and drill bits. It also offers equipment and technologies for hydraulic fracture stimulation, including downhole multistage fracturing tools, pressure pumping trucks, blenders, sanders, hydration and injection units, flowline, and manifolds; coiled tubing units, and wireline units and tools; connections and liner hangers; onshore production consists of composite pipe, surface transfer and progressive cavity pumps, and artificial lift systems; and offshore production, such as floating production systems and subsea production technologies, as well as manufactures industrial pumps and mixers. In addition, the company provides substructures, derricks, and masts; cranes; jacking systems; pipe lifting, racking, rotating, and assembly systems; mud pumps; pressure control equipment; drives and generators; rig instrumentation and control systems; mooring, anchor, and deck handling machinery; equipment components for offshore wind construction vessels; and pipelay and construction systems. Further, the company offers spare parts, repair, and rentals as well as comprehensive remote equipment monitoring, technical support, field service, and customer training. The company was formerly known as National Oilwell Varco, Inc. and changed its name to NOV Inc. in January 2021. NOV Inc. was founded in 1862 and is based in Houston, Texas.
About
CEO
Mr. Clay C. Williams
Employees
33,676
Instrument type
Common Stock
Sector
Energy
Industry
Oil & Gas Equipment & Services
MIC code
XNYS
Address
10353 Richmond Avenue, Houston, TX 77042-4103, United States
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Oscillators
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Summary
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Earnings
| Date | Estimate EPS | Actual EPS | Difference | % Surprise |
|---|---|---|---|---|
| Oct 23, 2025 | — | — | — | — |
| Jul 24, 2025 | — | — | — | — |
| Apr 24, 2025 | — | — | — | — |
| Jan 31, 2025 | 0.38 | — | — | — |
Earnings estimate
|
Next Quarter
(Mar 2025)
|
Next Year
(Dec 2025)
|
|||
|---|---|---|---|---|
| Number of analysts | — | 11 | — | 15 |
| Average estimate | — | 0.30 | — | 1.49 |
| Low estimate | — | 0.26 | — | 1.27 |
| High estimate | — | 0.40 | — | 1.96 |
| Last year EPS | — | 0.30 | — | 1.55 |
[stock_revenue_estimate]
Growth estimates
Current qtr
-77.760%
Next qtr. (Mar 2025)
25.050%
Current year
-38.230%
Next year (Dec 2025)
3.570%
Next 5 years (per annum)
—
Past 5 years (per annum)
—
Income statement
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total reported revenue | 8.58B | 7.24B | 5.52B | 6.09B | 8.48B |
| Cost of revenue | 6.75B | 5.90B | 4.75B | 5.66B | 7.63B |
| Gross profit | 1.83B | 1.33B | 774.00M | 434.00M | 845.00M |
| Operating expense | |||||
| Research & development | — | — | — | — | — |
| Selling general and admin | 1.18B | 1.07B | 908.00M | 968.00M | 1.30B |
| Other operating expenses | — | — | — | — | — |
| Operating income | 651.00M | 264.00M | -134.00M | -534.00M | -458.00M |
| Non operating interest income | |||||
| Income | 28.00M | 19.00M | 9.00M | 7.00M | 20.00M |
| Expense | 88.00M | 78.00M | 77.00M | 84.00M | 100.00M |
| Other income expense | 21.00M | 33.00M | -28.00M | -2.17B | -5.92B |
| Pretax income | 612.00M | 238.00M | -230.00M | -2.78B | -6.46B |
| Tax provision | -373.00M | 83.00M | 15.00M | -242.00M | -369.00M |
| Net income | 985.00M | 155.00M | -245.00M | -2.54B | -6.09B |
| Basic EPS | 2.53 | 0.40 | -0.65 | -6.62 | -15.96 |
| Diluted EPS | 2.50 | 0.39 | -0.65 | -6.62 | -15.96 |
| Basic average shares | 393.00M | 390.00M | 386.00M | 384.00M | 382.00M |
| Diluted average shares | 393.00M | 390.00M | 386.00M | 384.00M | 382.00M |
| EBITDA | 1.00B | 617.00M | 153.00M | -452.00M | -8.00M |
| Net income from continuing op. | 985.00M | 155.00M | -245.00M | -2.54B | -6.09B |
| Minority interests | 8.00M | — | -5.00M | -5.00M | -2.00M |
| Preferred stock dividends | — | — | — | — | — |
Balance sheet
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total assets | 11.29B | 10.14B | 9.55B | 9.93B | 13.15B |
| Current assets | |||||
| Cash | — | — | — | — | — |
| Cash equivalents | — | — | — | — | — |
| Cash and cash equivalents | 816.00M | 1.07B | 1.59B | 1.69B | 1.17B |
| Other short term investments | — | — | — | — | — |
| Accounts receivable | 1.91B | 1.74B | 1.32B | 1.27B | 1.86B |
| Other receivables | 739.00M | 685.00M | 461.00M | 611.00M | 643.00M |
| Inventory | 2.15B | 1.81B | 1.33B | 1.41B | 2.20B |
| Prepaid assets | — | — | 198.00M | 224.00M | 247.00M |
| Restricted cash | — | — | — | — | — |
| Assets held for sale | — | — | — | — | — |
| Hedging assets | — | — | — | — | — |
| Other current assets | 229.00M | 187.00M | 198.00M | 224.00M | 247.00M |
| Non current assets | |||||
| Properties | 4.27B | 4.00B | 4.01B | 4.03B | 4.47B |
| Land and improvements | 180.00M | 176.00M | 174.00M | 175.00M | 231.00M |
| Machinery furniture equipment | — | — | — | — | 3.80B |
| Construction in progress | — | — | — | — | — |
| Leases | — | — | — | — | — |
| Accumulated depreciation | -3.33B | -3.13B | -3.13B | -3.05B | -2.98B |
| Goodwill | 3.57B | 3.50B | 3.56B | 3.51B | 6.47B |
| Investment properties | — | — | — | — | — |
| Financial assets | — | — | — | — | — |
| Intangible assets | 450.00M | 490.00M | 503.00M | 527.00M | 852.00M |
| Investments and advances | 211.00M | 117.00M | 50.00M | 51.00M | 282.00M |
| Other non current assets | 822.00M | 232.00M | 208.00M | 156.00M | 67.00M |
| Total liabilities | 5.05B | 5.00B | 4.49B | 4.65B | 5.30B |
| Current liabilities | |||||
| Accounts payable | 904.00M | 906.00M | 612.00M | 489.00M | 715.00M |
| Accrued expenses | 445.00M | 510.00M | 442.00M | 494.00M | 543.00M |
| Short term debt | 107.00M | 100.00M | 104.00M | 110.00M | 114.00M |
| Deferred revenue | 532.00M | 444.00M | 392.00M | 354.00M | 427.00M |
| Tax payable | 134.00M | 135.00M | 143.00M | 209.00M | 154.00M |
| Pensions | 294.00M | 329.00M | 209.00M | 196.00M | 270.00M |
| Other current liabilities | 19.00M | 13.00M | 8.00M | 15.00M | 24.00M |
| Non current liabilities | |||||
| Long term debt | 2.27B | 2.27B | 2.28B | 2.45B | 2.66B |
| Provision for risks and charges | — | — | — | — | — |
| Deferred liabilities | 70.00M | 68.00M | 66.00M | 78.00M | 140.00M |
| Derivative product liabilities | — | — | — | — | — |
| Other non current liabilities | 277.00M | 230.00M | 226.00M | 259.00M | 253.00M |
| Shareholders equity | |||||
| Common stock | 4.00M | 4.00M | 4.00M | 4.00M | 4.00M |
| Retained earnings | -1.16B | -2.07B | -2.15B | -1.88B | 690.00M |
| Other shareholders equity | -1.49B | -1.59B | -1.55B | -1.51B | -1.42B |
| Total shareholders equity | 6.24B | 5.13B | 5.06B | 5.28B | 7.85B |
| Additional paid in capital | 8.81B | 8.75B | 8.69B | 8.59B | 8.51B |
| Treasury stock | — | — | — | — | — |
| Minority interest | 74.00M | 38.00M | 67.00M | 69.00M | 68.00M |
Cash flow statement
| 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 | 1996 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||||||||||||||||||||||
| Net Income | 985.00M | 155.00M | -245.00M | -2.54B | -6.09B | -22.00M | -236.00M | -2.42B | -767.00M | 2.46B | 2.18B | 2.38B | 1.99B | 1.66B | 1.47B | 1.97B | 1.34B | 684.00M | 286.90M | 115.20M | 79.70M | 73.07M | 104.06M | 13.14M | -9.39M | 81.34M | 54.80M | 10.10M |
| Depreciation | 302.00M | 301.00M | 306.00M | 352.00M | 533.00M | 690.00M | 698.00M | 703.00M | 747.00M | 778.00M | 738.00M | 616.00M | 555.00M | 507.00M | 490.00M | 402.00M | 214.10M | 160.60M | 114.60M | 44.00M | 39.20M | 25.05M | 38.87M | 35.03M | 25.54M | 20.52M | 15.40M | 8.80M |
| Deferred Taxes | -489.00M | -2.00M | 11.00M | -65.00M | -426.00M | -63.00M | -341.00M | -198.00M | -258.00M | -300.00M | -336.00M | -90.00M | -352.00M | -165.00M | -174.00M | — | — | — | — | -6.70M | 6.84M | 11.45M | 7.85M | -5.86M | 2.53M | -4.09M | -3.10M | -2.40M |
| Stock-Based Compensation | 66.00M | 67.00M | 78.00M | 105.00M | 130.00M | 110.00M | 124.00M | 107.00M | 109.00M | 101.00M | 92.00M | 80.00M | 73.00M | 66.00M | 68.00M | 67.00M | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Non-Cash Items | -50.00M | 18.00M | 16.00M | 16.00M | 16.00M | -7.00M | 20.00M | 108.00M | 70.00M | 53.00M | 72.00M | 77.00M | 69.00M | 135.00M | 75.00M | 82.00M | 20.20M | -13.50M | — | — | — | — | — | — | 100,000 | — | -600,000 | 100,000 |
| Accounts Receivable | -324.00M | -660.00M | 98.00M | 604.00M | 205.00M | -140.00M | 242.00M | 1.49B | 1.64B | -415.00M | -830.00M | -1.12B | -474.00M | -193.00M | 1.03B | -601.00M | -799.40M | -409.10M | -425.00M | -115.00M | -60.00M | 58.95M | -74.70M | -52.73M | 129.25M | -45.54M | -81.90M | -33.90M |
| Accounts Payable | -4.00M | 289.00M | 118.00M | -226.00M | -19.00M | 196.00M | 86.00M | -243.00M | -570.00M | 95.00M | 18.00M | 40.00M | 205.00M | 40.00M | -361.00M | 860.00M | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Assets & Liabilities | -94.00M | -500.00M | -79.00M | 230.00M | 113.00M | -161.00M | 164.00M | 613.00M | -343.00M | -1.17B | 828.00M | -691.00M | -134.00M | -779.00M | -717.00M | 154.60M | -420.00M | 465.10M | -6.90M | -71.30M | -139.12M | -28.85M | -92.11M | -36.75M | -19.73M | 1.81M | -46.20M | -22.70M |
| Operating Cash Flow | 392.00M | -332.00M | 303.00M | -1.52B | -5.54B | 603.00M | 757.00M | 165.00M | 627.00M | 1.60B | 2.76B | 1.28B | 1.93B | 1.27B | 1.89B | 2.93B | 352.00M | 887.10M | -30.40M | -33.80M | -73.38M | 139.67M | -16.02M | -47.17M | 128.30M | 54.03M | -61.60M | -40.00M |
| Investing Activities | ||||||||||||||||||||||||||||
| Capital Expenditures | -283.00M | -214.00M | -201.00M | -226.00M | -233.00M | -244.00M | -192.00M | -284.00M | -453.00M | -699.00M | -614.00M | -569.00M | -483.00M | -232.00M | -250.00M | -379.00M | -251.80M | -200.40M | -105.00M | -39.00M | -32.40M | -12.27M | -19.43M | -16.33M | 15.33M | -29.25M | -49.50M | -117.40M |
| Net Intangibles | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Net Acquisitions | -22.00M | -49.00M | -52.00M | -14.00M | -180.00M | -280.00M | -86.00M | -230.00M | -86.00M | -291.00M | -2.40B | -1.77B | -1.04B | -556.00M | -573.00M | -2.21B | -323.90M | -329.70M | — | -2.80M | -78.00M | -213.05M | -38.52M | -48.21M | -67.03M | -130.96M | — | — |
| Purchase of Investments | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Sale of Investments | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 251.00M | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Investing Cash Flow | -293.00M | -238.00M | -196.00M | -144.00M | -315.00M | -457.00M | -245.00M | -488.00M | -514.00M | -1.09B | -2.91B | -2.30B | -1.47B | -759.00M | -560.00M | -2.47B | -574.90M | -530.10M | 38.00M | -8.80M | -180.50M | -225.32M | -57.95M | -64.54M | -51.70M | -160.21M | -49.30M | -117.80M |
| Financing Activities | ||||||||||||||||||||||||||||
| Long-Term Debt Issuance | 2.00M | 20.00M | 60.00M | 36.00M | 511.00M | — | — | 3.97B | 11.38B | 173.00M | 2.61B | 5.58B | — | 3.00M | 7.00M | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Long-Term Debt Payments | -10.00M | -4.00M | -183.00M | -217.00M | -1.00B | — | -500.00M | -4.87B | -10.62B | -155.00M | -2.61B | -2.94B | -391.00M | -16.00M | -47.00M | -2.92B | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Financing Charges | 7.00M | -10.00M | -20.00M | -28.00M | -49.00M | 54.00M | -13.00M | -11.00M | 6.00M | 13.00M | 27.00M | 42.00M | 22.00M | 10.00M | 1.00M | 37.00M | 22.90M | 13.50M | — | — | — | 1.36M | — | -662,000 | -959,000 | -2.27M | -2.10M | 5.20M |
| Financing Cash Flow | -88.00M | -56.00M | -286.00M | -409.00M | -1.10B | -22.00M | -1.09B | -2.04B | -1.40B | -1.43B | -362.00M | 5.11B | -951.00M | -188.00M | -539.00M | -2.99B | 114.20M | 46.20M | 111.90M | 14.60M | 9.70M | 3.71M | 9.29M | 13.59M | -795,000 | -1.27M | 41.70M | 113.40M |
| Other Cash Details | ||||||||||||||||||||||||||||
| End Cash Position | 816.00M | 1.07B | 1.59B | 1.69B | 1.17B | 1.43B | 1.44B | 1.41B | 2.08B | 3.54B | 3.44B | 3.32B | 3.54B | 3.33B | 2.62B | 1.54B | 1.84B | 957.40M | 209.40M | 142.70M | 74.20M | 118.34M | 43.22M | 42.46M | 48.09M | 49.44M | 20.40M | — |
| Income Tax Paid | 114.00M | 117.00M | 78.00M | — | 144.00M | 64.00M | 50.00M | 181.00M | 782.00M | 1.38B | 1.10B | 1.57B | 945.00M | 551.00M | 929.00M | 1.26B | — | — | — | — | — | — | — | — | — | — | — | — |
| Interest Paid | 85.00M | 75.00M | 76.00M | 83.00M | 85.00M | 90.00M | 97.00M | 101.00M | 103.00M | 102.00M | 111.00M | 40.00M | 44.00M | 56.00M | 56.00M | 76.00M | — | — | — | — | — | — | — | — | — | — | — | — |
| Free Cash Flow | -140.00M | -393.00M | 90.00M | 700.00M | 481.00M | 277.00M | 640.00M | 676.00M | 879.00M | 1.92B | 2.78B | 51.00M | 1.66B | 1.31B | 1.85B | 1.92B | 936.20M | 1.02B | -27.50M | 127.20M | -1.40M | 79.24M | -62.73M | 2.05M | 67.01M | -7.38M | -54.30M | -128.00M |
Top Institutional Holders
| Holder | Date Reported | Shares | Value | % Held |
|---|---|---|---|---|
| First Eagle Global Fund | Oct 31, 2024 | 28,255,276 | 411.96M | 7.26% |
| Vanguard/Windsor II | Oct 31, 2024 | 16,773,088 | 244.55M | 4.31% |
| iShares Core S&P Midcap ETF | Nov 30, 2024 | 12,644,374 | 184.35M | 3.25% |
| Vanguard Total Stock Market Index Fund | Sep 30, 2024 | 12,327,040 | 179.73M | 3.17% |
| Vanguard Small-Cap Index Fund | Sep 30, 2024 | 9,856,355 | 143.71M | 2.53% |
| Vanguard Extended Market Index Fund | Sep 30, 2024 | 5,902,058 | 86.05M | 1.52% |
| Vanguard Small-Cap Growth Index Fund | Sep 30, 2024 | 5,435,406 | 79.25M | 1.40% |
| DFA U.S. Small Cap Value Series | Oct 31, 2024 | 4,425,456 | 64.52M | 1.14% |
| VanEck ETF Trust-VanEck Oil Services ETF | Nov 30, 2024 | 4,386,360 | 63.95M | 1.13% |
| Vanguard/Windsor Fund Inc. | Oct 31, 2024 | 4,383,136 | 63.91M | 1.13% |
Article
NOV: Shareholder Returns Have Likely Peaked For Now
NOV exceeded expectations for Q4 2024, thereby leading to a potential $80m supplemental dividend payment. A large working capital draw during 2024 boosted free cash flow, but this is not expected to be repeated during 2025. Since no capital expenditure cuts are planned for 2025 versus 2024, it also limits the potential for free cash flow.
Feb 7, 2025
Article
NOV Inc. (NOV) Q4 2024 Earnings Call Transcript
NOV Inc. (NYSE:NOV ) Q4 2024 Earnings Conference Call February 5, 2025 11:00 AM ET Company Participants Amie D'Ambrosio - Director of Investor Relations Clay Williams - Chairman, President and Chief Executive Officer Jose Bayardo - Senior Vice President and Chief Financial Officer Conference Call Participants Jim Rollyson - Raymond James Roger Read - Wells Fargo Securities Daniel Kutz - Morgan Stanley Waqar Syed - ATB Capital Markets Operator Good day ladies and gentlemen, and thank you for standing by. Welcome to the NOV Fourth Quarter 2024 Earnings Conference Call.
Feb 5, 2025
Article
NOV Q4 Earnings Surpass Estimates, Revenues Decrease Y/Y
NOV expects a 1-3% year-over-year decline in revenues and adjusted EBITDA between $235 million and $265 million for first-quarter 2025.
Feb 5, 2025
