NOV Inc.

Listed Company

NOVCIK 0001021860NYSELarge AcceleratedOil & Gas Field Machinery & EquipmentDelawareFY ends Dec 31

Period

FY 2025

Revenue

$8.74B

Net Income

$145.00M

Total Assets

$11.29B

Equity

$6.27B

Shares Out

358.89M

Op. Cash Flow

$1.25B

Business

NOV Inc. is a leading independent equipment and technology provider to the global energy industry, delivering engineered solutions for drilling, completion and production operations. The company offers a broad portfolio of products and services, including drill bits, downhole and completion tools, drill pipe, drilling rigs, marine and subsea systems, process and midstream equipment, digital analytics, aftermarket parts, repairs, rentals and field services. NOV operates through two reporting segments: Energy Products and Services and Energy Equipment. It serves major, national and independent service companies, contractors and energy producers across 59 countries via direct sales, distribution centers, field service infrastructure and representative arrangements.

Summary from filing dated 2025-02-14

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	8,744	8,870	8,583	7,237	5,524
Cost of revenue	6,977	6,860	6,750	5,903	4,750
Gross profit	1,767	2,010	1,833	1,334	774
Selling, general and administrative	1,203	1,134	1,182	1,070	908
Goodwill and long-lived asset impairment	70	—	—	—	—
Operating profit	494	876	651	264	−134
Interest and financial costs	−88	−91	−88	−78	−77
Interest income	51	38	28	19	9
Equity income (loss) in unconsolidated affiliates	−16	36	119	68	−5
Other expense, net	−66	−28	−98	−35	−23
Income before income taxes	375	831	612	238	−230
Provision (benefit) for income taxes	224	196	−373	83	15
Net income	151	635	985	155	−245
Net income (loss) attributable to noncontrolling interests	6	0	−8	0	5
Net income attributable to Company	145	635	993	155	−250
Basic (per share)	0.39	1.62	2.53	0.4	−0.65
Diluted (per share)	0.39	1.6	2.5	0.39	−0.65
Cash dividends per share	0.51	0.28	0.2	0.2	0.05
Basic (shares)	372	392	393	390	386
Diluted (shares)	375	396	397	394	386

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	1,552	1,230	816	1,069	1,591
Receivables, net	1,701	1,819	1,905	1,739	1,321
Inventories, net	1,799	1,932	2,151	1,813	1,331
Contract assets	596	577	739	685	461
Prepaid and other current assets	172	212	229	187	198
Total current assets	5,820	5,770	5,840	5,493	4,902
Property, plant and equipment, net	2,050	1,922	1,865	1,781	1,823
Lease right-of-use assets, operating	315	353	372	346	361
Lease right-of-use assets, financing	187	196	172	171	176
Deferred income taxes	358	413	488	—	—
Goodwill	1,600	1,630	1,562	1,505	1,527
Intangibles, net	455	508	450	—	—
Investment in unconsolidated affiliates	163	163	211	117	50
Other assets	361	406	334	232	208
Total assets	11,291	11,361	11,294	10,135	9,550
Accounts payable	831	837	904	906	612
Accrued liabilities	822	861	870	959	778
Contract liabilities	565	492	532	444	392
Current portion of lease liabilities	101	102	94	87	99
Current portion of long-term debt	30	37	13	13	5
Accrued income taxes	57	18	22	28	24
Total current liabilities	2,406	2,347	2,435	2,437	1,910
Long-term debt	1,688	1,703	1,712	1,717	1,708
Lease liabilities	521	544	558	549	576
Deferred income taxes	93	56	70	68	66
Other liabilities	261	283	277	230	226
Total liabilities	4,969	4,933	5,052	5,001	4,486
Commitments and contingencies	—	—	—	—	—
Common stock - par value $.01; 1 billion shares authorized; 360,803,354 and 381,549,541 shares issued and outstanding at December 31, 2025 and December 31, 2024	4	4	4	4	4
Additional paid-in capital	8,361	8,625	8,812	8,754	8,685
Accumulated other comprehensive loss	−1,424	−1,625	−1,493	−1,593	−1,546
Retained deficit	−673	−628	−1,155	−2,069	−2,146
Total Company stockholders' equity	6,268	6,376	6,168	5,096	4,997
Noncontrolling interests	54	52	74	38	67
Total stockholders equity	6,322	6,428	6,242	5,134	5,064
Total liabilities and stockholders equity	11,291	11,361	11,294	10,135	9,550

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	355	343	302	301	306
Deferred income taxes	93	49	−489	−2	11
Stock-based compensation	67	70	66	67	78
Dividend from unconsolidated affiliate	2	84	—	—	—
Gain on business divestiture	—	−130	—	—	—
Other, net	88	74	−18	18	16
Receivables	222	93	−269	−440	−52
Inventories	97	270	−361	−480	17
Contract assets	−19	162	−55	−220	150
Prepaid and other current assets	41	17	−40	6	28
Accounts payable	−6	−87	−4	289	118
Accrued liabilities	−48	−51	−116	101	−97
Contract liabilities	73	−42	82	52	27
Income taxes payable	39	−5	−6	5	−28
Other assets/liabilities, net	10	−142	185	−72	−123
Net cash provided by operating activities	1,251	1,304	143	−179	291
Purchases of property, plant and equipment	−375	−351	−283	−214	−201
Business acquisitions, net of cash acquired	0	−298	−22	−49	−52
Business divestitures, net of cash disposed	—	176	—	—	—
Other, net	13	2	12	25	57
Net cash used in investing activities	−362	−471	−293	−238	−196
Borrowings against lines of credit and other debt	3	420	184	20	60
Payments against lines of credit and other debt	−26	−431	−192	−4	−183
Financing leases	−28	−28	−23	−24	−26
Cash dividends paid	−190	−108	−79	−78	−20
Share repurchases	−315	−229	—	—	—
Other	−28	−30	7	−10	−13
Net cash used in financing activities	−584	−406	−103	−96	−189
Effect of exchange rates on cash	17	−13	—	−9	−7
Increase (decrease) in cash and cash equivalents	322	414	−253	−522	−101
Interest	85	86	85	75	76
Income taxes	106	161	114	117	−78

Filings

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