DNOW Inc.

Listed Company

DNOWCIK 0001599617NYSELarge AcceleratedOil & Gas Field Machinery & EquipmentDelawareFY ends Dec 31

Period

FY 2025

Revenue

$2.82B

Net Income

$-89.00M

Total Assets

$3.92B

Equity

$2.23B

Shares Out

186.35M

Op. Cash Flow

$155.00M

Business

DNOW Inc. is a global distributor serving the oil and gas, energy transition and industrial markets, providing supply chain and materials management solutions. It offers a broad product portfolio including pipe, valves, fittings, flanges, gaskets, fasteners, pumps, electrical and instrumentation, artificial lift, process and production equipment, modular units, MRO consumables, and digital sourcing and procurement through the DigitalNOW® platform. The company operates through three reportable segments—United States, Canada and International—plus specialized Process Solutions and Energy Center distribution channels. It serves customers across the U.S., Canada, the UK, Norway, Australia, the Netherlands, Singapore, the Middle East and export markets via branch locations, regional supercenters, on-site services and e-commerce channels.

Summary from filing dated 2025-02-18

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	2,820	2,373	2,321	2,136	1,632
Cost of products	2,342	1,842	1,782	1,630	1,275
Gross profit	478	531	539	—	—
Selling, general and administrative expenses	559	416	395	—	—
Impairment and other charges	12	6	0	10	7
Operating (loss) profit	−93	109	144	131	9
Other expense	−7	1	−2	8	3
(Loss) income before income taxes	−100	110	142	139	12
Income tax (benefit) provision	−12	31	−109	10	7
Net (loss) income	−88	79	251	129	5
Net income attributable to noncontrolling interest	1	1	1	1	0
Net (loss) income attributable to DNOW Inc.	−89	78	250	128	5
Basic	−0.76	0.72	2.29	1.14	0.05
Diluted	−0.76	0.71	2.27	1.13	0.05
Weighted-average common shares outstanding, basic	118	106	107	111	110
Weighted-average common shares outstanding, diluted	118	107	108	111	110

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	164	256	299	212	313
Receivables, net	874	388	384	398	304
Inventories, net	1,192	352	366	381	250
Prepaid and other current assets	48	32	19	26	16
Total current assets	2,278	1,028	1,068	1,017	883
Property, plant and equipment, net	264	157	131	119	111
Operating right-of-use assets	160	40	—	—	—
Deferred income taxes	11	93	118	—	0
Goodwill	617	230	139	116	67
Intangibles, net	565	65	28	25	9
Other assets	29	8	45	43	34
Total assets	3,924	1,621	1,532	1,320	1,104
Accounts payable	653	300	288	304	235
Accrued liabilities	300	130	120	126	112
Other current liabilities	21	12	10	9	22
Total current liabilities	974	442	418	439	369
Long-term operating lease liabilities	129	29	30	25	17
Long-term debt	411	0	—	—	—
Deferred income taxes	99	0	0	1	0
Other long-term liabilities	73	22	18	11	6
Total liabilities	1,686	493	466	476	392
Commitments and contingencies (Note 14)	—	—	—	—	—
Common stock - par value $0.01; 330 million shares authorized; 186,125,254 and 105,652,963 shares issued and outstanding at December 31, 2025 and 2024, respectively	2	1	1	1	1
Additional paid-in capital	3,193	2,023	2,032	2,066	2,060
Accumulated deficit	−836	−747	−828	−1,075	−1,203
Accumulated other comprehensive loss	−126	−153	−145	−150	−147
DNOW Inc. stockholders' equity	2,233	1,124	1,060	842	711
Noncontrolling interest	5	4	3	2	1
Total stockholders' equity	2,238	1,128	1,066	844	712
Total liabilities and stockholders' equity	3,924	1,621	1,529	1,320	1,104

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	52	34	26	19	23
Increase (decrease) in LIFO reserve	27	4	−4	—	—
Stock-based compensation	29	13	15	11	8
Deferred income taxes	−16	24	−118	1	0
Operating lease expense	24	18	17	—	—
Other, net	0	1	10	4	11
Receivables	40	81	16	−95	−97
Inventories	107	80	12	−138	3
Prepaid and other current assets	20	−8	7	−10	−3
Accounts payable	−37	−15	−20	—	—
Accrued liabilities and other, net	−15	−19	−24	—	—
Net cash provided by operating activities	155	298	188	0	30
Business acquisitions, net of cash acquired	−574	−299	−32	−80	−96
Purchases of property, plant and equipment	−21	−9	−17	−9	−5
Other, net	5	4	1	2	5
Net cash used in investing activities	−590	−304	−48	−87	−96
Borrowings under the revolving credit facility	643	0	0	—	—
Repayments under the revolving credit facility	−232	0	0	—	—
Repurchases of common stock	−37	−23	−50	−7	0
Shares withheld for taxes	−19	−4	−1	—	—
Other, net	−16	−6	−4	—	—
Net cash provided by (used in) financing activities	339	−33	−55	−10	−6
Effect of exchange rates on cash and cash equivalents	4	−4	2	−4	−2
Net change in cash and cash equivalents	−92	−43	87	−101	−74
Income taxes paid, net	3	6	10	11	0
Interest paid	4	0	0	—	—
Accrued purchases of property, plant and equipment	5	1	1	1	0
Common stock issued in connection with acquisition of MRC Global	1,197	0	0	—	—

Filings

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