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Earnings transcript
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NESR
National Energy Services Reunited Corp.
$33.23
-0.41
(-1.22%)
| Exchange: | NASDAQ |
| Market Cap: | 3.351B |
| Shares Outstanding: | 28.652M |
Delayed data
About The Company
| Sector: | Energy | |||||
| Industry: | Oil & Gas Equipment & Services | |||||
| CEO: | Sherif Foda | |||||
| Full Time Employees: | 7352 | |||||
| Address: |
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| Website: | https://www.nesr.com |
National Energy Services Reunited Corp. (NESR), established in 2017 with its headquarters in Houston, Texas, offers an extensive range of oilfield services to energy companies operating across the Middle East, North Africa, and Asia Pacific regions. The company’s operations are divided into two main segments: Production Services, and Drilling and Evaluation Services. The Production Services division delivers a variety of solutions aimed at maximizing well output and maintaining essential infrastructure. These encompass hydraulic fracturing and stimulation services designed to boost production, along with numerous coiled tubing applications such as nitrogen lifting, fishing, milling, and wellbore clean-outs. It also provides both primary and remedial cementing services, nitrogen applications, and filtration services, including the supply of frac tanks and pumping units. Furthermore, this segment offers comprehensive pipeline services, covering activities like water filling, hydro testing, nitrogen purging, de-gassing, pressure testing, and critical cutting, welding, and cooling of piping and vessel systems. Additional offerings include production assurance chemicals, laboratory analysis, artificial lift systems, and specialized equipment such as surface and subsurface safety systems, high-pressure packer systems, and flow controls. NESR also supplies service tools, advanced expandable liner technology, vacuum insulated tubing technology, and boasts in-house engineering capabilities with integrated manufacturing and testing facilities. A significant part of its service portfolio also involves water management, including the sourcing, treatment, and disposal of water for oil and gas, municipal, and industrial uses. The Drilling and Evaluation Services segment focuses on the initial stages of oil and gas exploration and well construction, as well as ongoing diagnostics. It supplies various drilling and workover rigs, associated rig services, and specialized solutions for fishing operations and well remediation. This segment also provides advanced directional and turbine drilling services, sophisticated drilling fluid systems, and related technologies. For subsurface analysis and intervention, NESR performs wireline logging and slickline services—the latter being vital for tasks such like removing scale, wax, and sand build-up, setting plugs, exchanging gas lift valves, and other well applications. The segment also conducts well testing to assess the production of solids, gas, oil, and water from a well, and offers rental services for drilling tools. Complementary services include thru-tubing intervention solutions, tubular running services, and the provision of essential wellhead products, flow control apparatus, and frac equipment.
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Revenue Segmentation
EPS
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Earnings Call
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Key takeaways
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 1,145,915 | 1,301,704 | 1,324,047 |
| Gross Profit | 129,876 | 208,673 | 145,956 |
| EBITDA | 217,902 | 278,163 | 234,639.999 |
| Operating Income | 80,703 | 137,704 | 98,320 |
| Net Income | 12,580 | 76,310 | 51,132 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 1,797,740 | 1,773,678 | 1,851,519 |
| Total Liabilities | 976,246 | 865,446 | 883,603 |
| Total Stockholders Equity | 821,494 | 908,232 | 967,916 |
| Total Debt | 484,749 | 409,134 | 277,273 |
| Cash and Cash Equivalents | 67,821 | 107,956 | 124,797 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 176,959 | 229,329 | 264,242 |
| Capital Expenditure | -68,190 | -105,105 | -143,454 |
| Free Cash Flow | 108,769 | 124,224 | 120,788 |
| Net Income | 12,580 | 76,310 | 51,132 |
| Net Change in Cash | -11,032 | 40,135 | 16,841 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2028 | Research Access | Research Access | Research Access | Research Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 2,831,673.832 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (High) | 3,095,142.196 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (Avg) | 2,963,408.014 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Low) | 832,018.346 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (High) | 909,432.104 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Avg) | 870,725.225 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Low) | 274,404.257 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (High) | 431,249.589 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Avg) | 321,783.570 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Low) | 115,114.879 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (High) | 125,825.551 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Avg) | 120,470.215 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Avg) | 3.560 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (High) | 4.350 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Low) | 2.770 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated Revenue) | 3 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated EPS) | 2 | Research Access | Research Access | Research Access | Research Access |
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Current Key Metrics
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Login — it's freeSWOT Analysis
Strengths (preview)
- Record Revenue Growth: NESR reported a record revenue of $343.7 million in Q4 2024, as highlighted in the latest earnings call transcript, reflecting strong operational performance and market demand in its core segments. This growth aligns with positive industry trends in the energy services sector.
- Operational Excellence: The company emphasized its commitment to innovation and operational efficiency during the Q4 2024 earnings call, which has contributed to maintaining a competitive edge in key markets. This is supported by consistent gross profit margins (as per key metrics TTM).
- Strong Market Positioning: NESR’s strategic focus on high-growth regions, as evidenced by revenue contributions from key geographic segments, positions it favorably within the energy services industry, supported by robust sector performance metrics over the past year.
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At what price to buy it? -
Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MARKETSnap estimates NESR intrinsic value between $11.25 – $16.73 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
[intrinsic_calculator]
Common questions about NESR valuation
Is National Energy Services Reunited Corp. (NESR) overvalued or undervalued right now?
MARKETSnap estimates intrinsic value for National Energy Services Reunited Corp. (NESR) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is NESR a buy, hold, or sell for long-term investors?
MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether NESR trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is NESR’s P/E ratio?
You can see NESR’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for NESR?
MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is NESR a good long-term investment?
Whether NESR fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
NESR
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Daily snapshot
-1.22
Trading Metrics:
| Open: | 33.64 | Previous Close: | 33.64 | |
| Day Low: | 33.23 | Day High: | 34 | |
| Year Low: | 8.81 | Year High: | 36.94 | |
| Price Avg 50: | 29.26 | Price Avg 200: | 22.69 | |
| Volume: | 49216 | Average Volume: | 2.118M |
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Login — it's freeNESR full analysis
Welcome to MARKETSNAP’s SWOT analysis for National Energy Services Reunited, or NESR as it’s known on the ticker. If you’re not familiar with this player, let me give you the quick rundown. National Energy Services Reunited operates in the oil and gas services space, primarily focusing on the Middle East and North Africa region, with a strong footprint in providing integrated energy solutions. They’re part of the energy sector, specifically in the oil and gas equipment and services industry, and…
