National Energy Services Reunited (NESR)
Market Price (7/9/2026): $27.83 | Market Cap: $2.8 BilSector: Energy | Industry: Oil & Gas Equipment & Services
National Energy Services Reunited (NESR)
Market Price (7/9/2026): $27.83Market Cap: $2.8 BilSector: EnergyIndustry: Oil & Gas Equipment & Services
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 19% Megatrend and thematic driversMegatrends include Energy Transition & Decarbonization, and Water Infrastructure. Themes include Geothermal Energy, Carbon Capture & Storage, Show more. | Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 25x Stock price has recently run up significantly12M Rtn12 month market price return is 306% Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 61% Key risksNESR key risks include [1] unresolved material weaknesses in its internal financial controls that led to SEC charges, Show more. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 19% |
| Megatrend and thematic driversMegatrends include Energy Transition & Decarbonization, and Water Infrastructure. Themes include Geothermal Energy, Carbon Capture & Storage, Show more. |
| Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 25x |
| Stock price has recently run up significantly12M Rtn12 month market price return is 306% |
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 61% |
| Key risksNESR key risks include [1] unresolved material weaknesses in its internal financial controls that led to SEC charges, Show more. |
Qualitative Assessment
AI Analysis | Feedback
National Energy Services Reunited (NESR) stock has gained about 25% since 3/31/2026 because of the following key factors:
1. Strong Fiscal Q1 2026 Financial Performance: National Energy Services Reunited (NESR) reported robust financial results for its fiscal Q1 2026 (period ending March 31, 2026), released on May 11, 2026. The company surpassed analyst expectations with diluted earnings per share (EPS) of $0.23, exceeding the estimated $0.21, and revenue of $404.6 million, significantly higher than the consensus estimate of $368.4 million. This represented a substantial 33.5% year-over-year increase in revenue and a 129.3% year-over-year surge in net income. The market reacted positively, with the stock climbing 10.1% on the day of the earnings announcement.
2. Significant Contract Wins and Jafurah Project Momentum: The company benefited from substantial contract awards and the ramp-up of key projects. In March 2026, NESR announced securing multi-year cementing contracts valued at approximately $300 million, spanning operations in Kuwait and North Africa. Furthermore, the continued progress and anticipated acceleration of activity in Saudi Arabia's multi-billion dollar Jafurah unconventional development contract, awarded by Saudi Aramco in October 2025, were highlighted as major growth drivers. Analysts project that accelerating Jafurah activity will drive NESR's fiscal Q2 2026 revenue and EBITDA above Street estimates.
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National Energy Services Reunited (NESR) stock has gained about 25% since 3/31/2026 because of the following key factors:
1. Strong Fiscal Q1 2026 Financial Performance: National Energy Services Reunited (NESR) reported robust financial results for its fiscal Q1 2026 (period ending March 31, 2026), released on May 11, 2026. The company surpassed analyst expectations with diluted earnings per share (EPS) of $0.23, exceeding the estimated $0.21, and revenue of $404.6 million, significantly higher than the consensus estimate of $368.4 million. This represented a substantial 33.5% year-over-year increase in revenue and a 129.3% year-over-year surge in net income. The market reacted positively, with the stock climbing 10.1% on the day of the earnings announcement.
2. Significant Contract Wins and Jafurah Project Momentum: The company benefited from substantial contract awards and the ramp-up of key projects. In March 2026, NESR announced securing multi-year cementing contracts valued at approximately $300 million, spanning operations in Kuwait and North Africa. Furthermore, the continued progress and anticipated acceleration of activity in Saudi Arabia's multi-billion dollar Jafurah unconventional development contract, awarded by Saudi Aramco in October 2025, were highlighted as major growth drivers. Analysts project that accelerating Jafurah activity will drive NESR's fiscal Q2 2026 revenue and EBITDA above Street estimates.
3. Upgraded Analyst Ratings and Price Targets: Positive sentiment from financial analysts contributed to the stock's upward trend. UBS, for instance, raised its price target for NESR to $36 from $32 on June 30, 2026, while maintaining a "Buy" rating, citing the strong outlook for fiscal Q2 2026 driven by the Jafurah project. Similarly, Piper Sandler increased its price target to $33 from $30 on May 18, 2026, retaining an "Overweight" rating. The consensus price target among analysts sits at $32.00, indicating a potential upside from recent trading levels.
4. Initiation of Shareholder Return Program: NESR announced a strategic move to return capital to shareholders in May 2026. The company plans to initiate a quarterly dividend of $0.10 per share starting in fiscal Q4 2026 and authorized a share repurchase program of up to $50 million. This demonstrates management's confidence in the company's sustained cash flow generation and commitment to enhancing shareholder value.
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Stock Movement Drivers
Fundamental Drivers
The 26.7% change in NESR stock from 3/31/2026 to 7/8/2026 was primarily driven by a 17.3% change in the company's Net Income Margin (%).| (LTM values as of) | 3312026 | 7082026 | Change |
|---|---|---|---|
| Stock Price ($) | 21.47 | 27.20 | 26.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,324 | 1,426 | 7.7% |
| Net Income Margin (%) | 3.9% | 4.5% | 17.3% |
| P/E Multiple | 42.3 | 42.5 | 0.3% |
| Shares Outstanding (Mil) | 101 | 101 | 0.0% |
| Cumulative Contribution | 26.7% |
Market Drivers
3/31/2026 to 7/8/2026| Return | Correlation | |
|---|---|---|
| NESR | 26.7% | |
| Market (SPY) | 14.6% | 41.9% |
| Sector (XLE) | -9.2% | -2.0% |
Fundamental Drivers
The 73.7% change in NESR stock from 12/31/2025 to 7/8/2026 was primarily driven by a 89.6% change in the company's P/E Multiple.| (LTM values as of) | 12312025 | 7082026 | Change |
|---|---|---|---|
| Stock Price ($) | 15.66 | 27.20 | 73.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,269 | 1,426 | 12.3% |
| Net Income Margin (%) | 5.5% | 4.5% | -18.1% |
| P/E Multiple | 22.4 | 42.5 | 89.6% |
| Shares Outstanding (Mil) | 100 | 101 | -0.4% |
| Cumulative Contribution | 73.7% |
Market Drivers
12/31/2025 to 7/8/2026| Return | Correlation | |
|---|---|---|
| NESR | 73.7% | |
| Market (SPY) | 9.6% | 40.9% |
| Sector (XLE) | 25.2% | 5.0% |
Fundamental Drivers
The 351.8% change in NESR stock from 6/30/2025 to 7/8/2026 was primarily driven by a 114.6% change in the company's P/E Multiple.| (LTM values as of) | 6302025 | 7082026 | Change |
|---|---|---|---|
| Stock Price ($) | 6.02 | 27.20 | 351.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,185 | 1,426 | 20.3% |
| Net Income Margin (%) | 2.4% | 4.5% | 85.6% |
| P/E Multiple | 19.8 | 42.5 | 114.6% |
| Shares Outstanding (Mil) | 95 | 101 | -5.7% |
| Cumulative Contribution | 351.8% |
Market Drivers
6/30/2025 to 7/8/2026| Return | Correlation | |
|---|---|---|
| NESR | 351.8% | |
| Market (SPY) | 21.7% | 28.2% |
| Sector (XLE) | 34.2% | 19.1% |
Fundamental Drivers
The 926.4% change in NESR stock from 6/30/2023 to 7/8/2026 was primarily driven by a 989.6% change in the company's Net Income Margin (%).| (LTM values as of) | 6302023 | 7082026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.65 | 27.20 | 926.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 879 | 1,426 | 62.3% |
| Net Income Margin (%) | 0.4% | 4.5% | 989.6% |
| P/E Multiple | 66.2 | 42.5 | -35.9% |
| Shares Outstanding (Mil) | 91 | 101 | -9.5% |
| Cumulative Contribution | 926.4% |
Market Drivers
6/30/2023 to 7/8/2026| Return | Correlation | |
|---|---|---|
| NESR | 926.4% | |
| Market (SPY) | 74.1% | 40.8% |
| Sector (XLE) | 49.7% | 35.1% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| NESR Return | -5% | -27% | -62% | 238% | 75% | 77% | 180% |
| Peers Return | 1512% | 64% | 20% | -16% | 9% | 18% | 3362% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 10% | 100% |
Monthly Win Rates [3] | |||||||
| NESR Win Rate | 50% | 42% | 8% | 25% | 58% | 57% | |
| Peers Win Rate | 45% | 65% | 52% | 42% | 67% | 51% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 57% | |
Max Drawdowns [4] | |||||||
| NESR Max Drawdown | -44% | -47% | -65% | -14% | -42% | -27% | |
| Peers Max Drawdown | -28% | -44% | -30% | -33% | -34% | -23% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: SLB, HAL, BKR, WFRD, NOV.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 7/8/2026 (YTD)
How Low Can It Go
| Event | NESR | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -41.7% | -18.8% |
| % Gain to Breakeven | 71.6% | 23.1% |
| Time to Breakeven | 149 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -63.8% | -6.7% |
| % Gain to Breakeven | 176.2% | 7.1% |
| Time to Breakeven | 272 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -41.7% | -24.5% |
| % Gain to Breakeven | 71.7% | 32.4% |
| Time to Breakeven | 1079 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -48.7% | -33.7% |
| % Gain to Breakeven | 94.9% | 50.9% |
| Time to Breakeven | 112 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -26.7% | -19.2% |
| % Gain to Breakeven | 36.5% | 23.8% |
| Time to Breakeven | 783 days | 105 days |
In The Past
National Energy Services Reunited's stock fell -41.7% during the 2025 US Tariff Shock. Such a loss loss requires a 71.6% gain to breakeven.
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Asset Allocation
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| Event | NESR | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -41.7% | -18.8% |
| % Gain to Breakeven | 71.6% | 23.1% |
| Time to Breakeven | 149 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -63.8% | -6.7% |
| % Gain to Breakeven | 176.2% | 7.1% |
| Time to Breakeven | 272 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -41.7% | -24.5% |
| % Gain to Breakeven | 71.7% | 32.4% |
| Time to Breakeven | 1079 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -48.7% | -33.7% |
| % Gain to Breakeven | 94.9% | 50.9% |
| Time to Breakeven | 112 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -26.7% | -19.2% |
| % Gain to Breakeven | 36.5% | 23.8% |
| Time to Breakeven | 783 days | 105 days |
In The Past
National Energy Services Reunited's stock fell -41.7% during the 2025 US Tariff Shock. Such a loss loss requires a 71.6% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About National Energy Services Reunited (NESR)
National Energy Services Reunited (NESR) is a Houston-based oilfield services company that supports oil and gas operations primarily across the Middle East, North Africa, and Asia Pacific regions. The company offers a comprehensive range of services essential for the entire lifecycle of an oil or gas well, from initial drilling and evaluation to long-term production and maintenance.
NESR's services are divided into two main segments. Its Production Services segment includes critical operations like hydraulic fracturing, coiled tubing, cementing, and stimulation, alongside providing production assurance chemicals, artificial lift systems, and advanced well technology. This segment also handles water management, including sourcing, treatment, and disposal for oil and gas, as well as municipal and industrial clients. The Drilling and Evaluation Services segment focuses on the early stages of well development, offering drilling and workover rigs, directional drilling, drilling fluid systems, wireline and slickline logging, and well testing services. Additionally, NESR provides tubular running services, wellhead products, and rents essential drilling tools, positioning itself as a broad-spectrum partner for energy producers.
AI Analysis | Feedback
NESR is like a regional Halliburton or Schlumberger for the Middle East and North Africa.
Think of NESR as a comprehensive oilfield services provider, similar to a focused Baker Hughes, for the MENA and Asia Pacific regions.
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- Well Stimulation and Intervention: Provides services such as hydraulic fracturing, coiled tubing, and cementing to enhance well productivity and perform maintenance.
- Drilling and Workover Services: Offers drilling and workover rigs, including specialized techniques like directional drilling, and provides drilling fluid systems.
- Well Logging and Evaluation: Delivers wireline, slickline, and well testing services to gather critical downhole data and evaluate well performance.
- Water Management Services: Specializes in sourcing, treating, and disposing of water for various industrial, municipal, and energy sector uses.
- Production Optimization and Chemicals: Supplies production assurance chemicals, artificial lift systems, and downhole safety and flow control equipment.
- Pipeline and Process Services: Provides services for pipeline integrity, testing, maintenance, and various process operations like nitrogen purging.
- Oilfield Equipment and Tools: Rents drilling tools and provides tubular running services, wellhead products, and frac equipment.
AI Analysis | Feedback
National Energy Services Reunited (NESR) provides oilfield services primarily to oil and gas companies operating in the Middle East, North Africa, and the Asia Pacific regions.
The provided background information does not list specific names of these customer companies.
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Sherif Foda, Chairman of the Board & CEO
Sherif Foda has served as the Chairman and Chief Executive Officer of NESR since its inception in 2017. He founded the company as a Special Purpose Acquisition Company (SPAC) with the objective of creating the first and largest energy services company from the MENA region to be publicly listed on the Nasdaq Stock Market. Mr. Foda has over 25 years of professional experience in the energy industry, primarily working for Schlumberger Limited (NYSE: SLB) across the Middle East, Europe, and the US. At Schlumberger, he held various senior roles, including Senior Advisor to the Chairman, President of the Production Group, President of Europe and Africa, Vice President, and Managing Director of the Arabian market, and President of Well Intervention worldwide. He started his career with Schlumberger in 1993, and prior to entering the oil and gas industry, he worked for two years in the information technology and computer industry. Mr. Foda currently serves as the Chairman of the board of directors of WDVG Engineering and GLC Energy Company, and is a member of the Oxford Energy Policy Club in the UK. He previously served as a board member of Energy Recovery, Inc. (Nasdaq: ERII).
Stefan Angeli, Chief Financial Officer
Stefan Angeli has been the Chief Financial Officer of NESR since February 8, 2022. Prior to joining NESR, Mr. Angeli was the CFO for Stratum Reservoir, which is described as a private equity portfolio company involved in reservoir characterization, laboratory services, and instrumentation for the upstream, downstream, and mining sectors.
Salih Merghani, Vice President, Operations
Salih Merghani serves as the Vice President of Operations at NESR. Detailed background information for Mr. Merghani was not available in the provided search results.
Naif Al-Hadrami, Executive Director, Saudi Arabia
Naif Al-Hadrami is the Executive Director for Saudi Arabia, where he is responsible for all of NESR's operations in the Kingdom. Before this role, Mr. Al-Hadrami was the Production Group Director at NESR, overseeing all production group segments, including fracturing, coiled tubing, cementing, and stimulation operations in Saudi Arabia and Bahrain. Prior to joining NESR, he was the Managing Director of Bin Jabr Group, an oil and gas service provider based in the United Arab Emirates.
Dr. Chokri Ben Amor, Corporate QHSE & Executive Director
Dr. Chokri Ben Amor is the Corporate QHSE & Executive Director for NESR, responsible for all aspects of Quality, Health, Safety, and Environment (QHSE). Before this role, he was the TAQA Executive Vice President for the Production Group, responsible for coiled tubing and cementing services operations, as well as strategic growth and mergers and acquisitions for the production portfolio. Dr. Ben Amor spent over 19 years with Schlumberger, starting as a Field Engineer in 1996. During his tenure at Schlumberger, he worked in Operations, Technology, and HSE across Europe, the Middle East, and North Africa. Notably, he led Schlumberger operations in the Arabian region and also served as the Vice President for Corporate HSE globally.
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The global energy transition towards renewable energy sources and away from fossil fuels, driven by climate change concerns, technological advancements in renewables, and evolving government policies and public sentiment, poses a clear emerging threat. This fundamental shift in the global energy mix directly impacts the long-term demand for oil and gas, thereby threatening the core business of National Energy Services Reunited (NESR) which provides services exclusively to the oil and gas industry. As investment in and reliance on fossil fuels diminish, the market for oilfield services like those offered by NESR will likely contract significantly over time.
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Production Services
- Coiled Tubing Services: The market for coiled tubing services in the Middle East & Africa is anticipated to be USD 1.1 billion in 2026. Another estimate placed the Middle East & Africa coiled tubing market at USD 465.7 million in 2024, with projections to reach USD 617.9 million by 2034. The Asia Pacific coiled tubing market is expected to exhibit strong growth, with China's market valued at USD 0.44 billion in 2026, Indonesia at USD 0.07 billion in 2025, and India at USD 0.09 billion in 2026. Globally, the coiled tubing services market was valued at USD 8.35 billion in 2026 and is projected to grow to USD 12.39 billion by 2034.
- Hydraulic Fracturing Services: The Asia Pacific region is a significant market for hydraulic fracturing, accounting for 60% of the global market share in 2025, when the global market was valued at USD 64.41 billion. This implies an Asia Pacific market size of approximately USD 38.64 billion in 2025. The Asia-Pacific region is also forecasted to be the fastest-growing with a 9.95% CAGR to 2031. China alone is predicted to reach a market value of USD 0.96 billion in 2025. Globally, the hydraulic fracturing market is projected to be USD 21.13 billion in 2026 and is expected to reach USD 31.88 billion by 2034.
- Artificial Lift Services: The Middle East & Africa Artificial Lift Market was valued at USD 1.03 billion in 2024 and is projected to grow to USD 1.40 billion by 2030. The Asia-Pacific Artificial Lift Market was valued at USD 2.85 billion in 2024 and is expected to reach USD 4.85 billion by 2030. Globally, the artificial lift system market is projected to reach USD 14.53 billion in 2026, with an expected increase to USD 22.82 billion by 2034.
- Water Sourcing, Treatment, and Disposal (Oil & Gas Water Management Services): The global market for oil and gas water management services was valued at approximately USD 38.997 billion in 2025 and is projected to reach USD 62.0615 billion by 2033. Another source indicates a global market size of USD 34.54 billion in 2024, growing to USD 51.94 billion by 2031. The Asia Pacific region is identified as the fastest-growing market and held 29.50% of the global market share in 2025. The Middle East and North America combined represent approximately 70% of the revenue in the oil and gas water management services market.
Drilling and Evaluation Services
- Drilling Services (including rigs, directional drilling, drilling fluids): The Middle East drilling services market size was approximately USD 35.48 billion in 2024 and is predicted to grow to around USD 57.85 billion by 2034. The Middle East & Africa Drilling Market is expected to grow at a CAGR of greater than 1.92% over the next 5 years. In the Asia Pacific, the drilling services market was valued at US$ 51.02 billion in 2020 and is expected to reach US$ 65.79 billion by 2027. Specifically, the Asia-Pacific Directional Drilling Market was valued at USD 3.49 billion in 2024 and is expected to reach USD 6.68 billion by 2030. The Asia Pacific horizontal directional drilling market generated a revenue of USD 2,421.0 million in 2024 and is expected to reach US$ 5,627.5 million by 2030. Globally, the drilling services market is projected to grow from USD 19.25 billion in 2026 to USD 31.65 billion by 2034.
- Wireline Logging Services: The Middle East & Africa wireline services market is estimated to be worth USD 1.54 billion in 2026. More specifically, the Middle East Wireline Logging Services Market was valued at USD 4.21 billion in 2024 and is expected to reach USD 6.38 billion by 2030. The Asia Pacific wireline services market is anticipated to reach USD 2.08 billion in 2026. Globally, the wireline services market is valued at USD 11.41 billion in 2026 and is projected to reach USD 16.62 billion by 2034.
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- Major Contract Wins and Ramp-Up of New Programs: NESR anticipates significant revenue growth from recently awarded major contracts, most notably the Jafurah unconventional frac program, described as the largest unconventional frac program in sector history. The company expects these new contracts to drive record revenue performance, with projections to exit 2026 at an annualized revenue run rate of approximately $2 billion.
- Broad-Based Regional Expansion and Increased Activity in MENA: Growth is expected across various countries within the Middle East and North Africa (MENA) region. Higher activity levels in Saudi Arabia, Kuwait, Iraq, Abu Dhabi, Libya, Egypt, and Algeria are identified as key contributors to revenue. NESR has secured new multi-year contracts in Kuwait, Oman, and the UAE, and management highlights a substantial tender pipeline in the MENA region supporting multi-year growth.
- Strategic Capital Investments: NESR is making significant capital expenditures (CapEx) in 2025 and 2026, with anticipated spending of $140 million to $150 million in 2025 and $165 million in 2026. These investments are directly tied to recent contract wins and are aimed at growing its fleet and equipment, particularly in strategic locations like Saudi Arabia, Oman, Kuwait, and the UAE, positioning the company for future revenue generation.
- Market Share Gains and Segment Leadership: The company is focused on gaining market share and achieving a position among the top three providers in every segment within its operating countries. NESR expects to achieve a 25% growth rate relative to the broader market in 2025 by leveraging its scale and newly secured multi-year contracts. Accelerated market share growth, coupled with regional technology exclusivity, is expected to drive substantial revenue and margin expansion.
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Share Repurchases
- As of an earnings call around March 10, 2026, National Energy Services Reunited indicated that an announcement regarding stock buybacks would be made formally in the next quarter.
Share Issuance
- As of December 31, 2025, National Energy Services Reunited had 100,787,173 ordinary shares outstanding.
- Institutional ownership of NESR shares increased by 11.53% to 63,360K shares in the three months leading up to February 24, 2026.
Capital Expenditures
- Capital expenditures for National Energy Services Reunited were $143.5 million in 2025, $105.1 million in 2024, and $68.2 million in 2023.
- The primary focus of these capital expenditures was to grow the company's fleet and equipment, particularly in Saudi Arabia, Oman, Kuwait, and the UAE.
- Expected capital expenditures for 2026 are projected to be around $165 million, supporting growth and contract start-ups.
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Peer Comparisons
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Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 41.20 |
| Mkt Cap | 18.0 |
| Rev LTM | 15,431 |
| Op Inc LTM | 1,831 |
| FCF LTM | 1,206 |
| FCF 3Y Avg | 2,134 |
| CFO LTM | 1,956 |
| CFO 3Y Avg | 3,414 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | -0.9% |
| Rev Chg 3Y Avg | 5.6% |
| Rev Chg Q | 1.1% |
| QoQ Delta Rev Chg LTM | 0.3% |
| Op Inc Chg LTM | -18.7% |
| Op Inc Chg 3Y Avg | 12.8% |
| Op Mgn LTM | 13.2% |
| Op Mgn 3Y Avg | 14.0% |
| QoQ Delta Op Mgn LTM | -0.5% |
| CFO/Rev LTM | 13.3% |
| CFO/Rev 3Y Avg | 15.1% |
| FCF/Rev LTM | 8.6% |
| FCF/Rev 3Y Avg | 9.4% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Production Services | 816 | 878 | 786 | 567 | 554 |
| Drilling and Evaluation Services | 508 | 424 | 360 | 342 | 323 |
| Total | 1,324 | 1,302 | 1,146 | 910 | 877 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Production Services | 100 | 147 | 111 | 29 | -2 |
| Drilling and Evaluation Services | 69 | 63 | 36 | 33 | -1 |
| Unallocated expenses | -71 | -72 | -67 | -63 | -40 |
| Total | 98 | 138 | 81 | -1 | -43 |
| $ Mil | 2017 |
|---|---|
| Single segment | 231 |
| Total | 231 |
Price Behavior
| Market Price | $27.20 | |
| Market Cap ($ Bil) | 2.7 | |
| First Trading Date | 04/28/2023 | |
| Distance from 52W High | -9.1% | |
| 50 Days | 200 Days | |
| DMA Price | $25.15 | $16.97 |
| DMA Trend | up | up |
| Distance from DMA | 8.1% | 60.3% |
| 3M | 1YR | |
| Volatility | 51.2% | 53.5% |
| Downside Capture | 241.49 | 37.71 |
| Upside Capture | 197.68 | 195.64 |
| Correlation (SPY) | 44.4% | 28.2% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.75 | 1.46 | 1.61 | 1.66 | 1.22 | 0.93 |
| Up Beta | -1.27 | -0.76 | 1.05 | 1.05 | 1.41 | 0.57 |
| Down Beta | 1.95 | 1.75 | 1.20 | 1.49 | 1.37 | 1.26 |
| Up Capture | 453% | 268% | 252% | 377% | 334% | 200% |
| Bmk +ve Days | 11 | 24 | 40 | 67 | 140 | 429 |
| Stock +ve Days | 15 | 24 | 38 | 72 | 148 | 223 |
| Down Capture | 128% | 159% | 187% | 124% | 16% | 70% |
| Bmk -ve Days | 10 | 17 | 23 | 58 | 112 | 321 |
| Stock -ve Days | 6 | 17 | 25 | 53 | 103 | 189 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NESR | |
|---|---|---|---|---|
| NESR | 339.2% | 53.9% | 2.93 | - |
| Sector ETF (XLE) | 32.2% | 20.9% | 1.23 | 18.2% |
| Equity (SPY) | 21.2% | 12.5% | 1.26 | 27.9% |
| Gold (GLD) | 21.9% | 27.8% | 0.70 | 11.8% |
| Commodities (DBC) | 25.0% | 18.7% | 1.06 | -1.6% |
| Real Estate (VNQ) | 12.7% | 13.9% | 0.62 | 13.6% |
| Bitcoin (BTCUSD) | -41.4% | 42.8% | -1.13 | 7.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NESR | |
|---|---|---|---|---|
| NESR | -11.1% | 54.9% | -0.09 | - |
| Sector ETF (XLE) | 20.0% | 25.9% | 0.69 | 50.6% |
| Equity (SPY) | 13.2% | 17.1% | 0.60 | 35.3% |
| Gold (GLD) | 17.8% | 18.3% | 0.79 | 13.7% |
| Commodities (DBC) | 7.8% | 19.5% | 0.30 | 32.4% |
| Real Estate (VNQ) | 2.8% | 18.9% | 0.05 | 24.1% |
| Bitcoin (BTCUSD) | 12.1% | 53.5% | 0.41 | 11.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NESR | |
|---|---|---|---|---|
| NESR | -1.7% | 51.1% | 0.16 | - |
| Sector ETF (XLE) | 9.9% | 29.6% | 0.37 | 46.6% |
| Equity (SPY) | 15.9% | 17.9% | 0.76 | 34.1% |
| Gold (GLD) | 11.5% | 16.1% | 0.58 | 6.8% |
| Commodities (DBC) | 6.4% | 18.0% | 0.28 | 28.9% |
| Real Estate (VNQ) | 5.4% | 20.7% | 0.22 | 26.7% |
| Bitcoin (BTCUSD) | 58.0% | 66.2% | 0.98 | 9.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/11/2026 | 10-Q |
| 12/31/2025 | 03/06/2026 | 10-K |
| 09/30/2025 | 11/13/2025 | 6-K |
| 06/30/2025 | 08/20/2025 | 6-K |
| 03/31/2025 | 06/03/2025 | 6-K |
| 12/31/2024 | 03/28/2025 | 20-F |
| 09/30/2024 | 11/19/2024 | 6-K |
| 06/30/2024 | 08/29/2024 | 6-K |
| 12/31/2023 | 04/30/2024 | 20-F |
| 12/31/2022 | 12/29/2023 | 20-F |
| 09/30/2021 | 11/05/2021 | 6-K |
| 06/30/2021 | 08/06/2021 | 6-K |
| 03/31/2021 | 07/09/2021 | 6-K |
| 12/31/2020 | 03/24/2021 | 20-F |
| 09/30/2020 | 10/29/2020 | 6-K |
| 06/30/2020 | 08/06/2020 | 6-K |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/11/2026 | 10-Q |
| 12/31/2025 | 03/06/2026 | 10-K |
| 09/30/2025 | 11/13/2025 | 6-K |
| 06/30/2025 | 08/20/2025 | 6-K |
| 03/31/2025 | 06/03/2025 | 6-K |
| 12/31/2024 | 03/28/2025 | 20-F |
| 09/30/2024 | 11/19/2024 | 6-K |
| 06/30/2024 | 08/29/2024 | 6-K |
| 12/31/2023 | 04/30/2024 | 20-F |
| 12/31/2022 | 12/29/2023 | 20-F |
| 09/30/2021 | 11/05/2021 | 6-K |
| 06/30/2021 | 08/06/2021 | 6-K |
| 03/31/2021 | 07/09/2021 | 6-K |
| 12/31/2020 | 03/24/2021 | 20-F |
| 09/30/2020 | 10/29/2020 | 6-K |
| 06/30/2020 | 08/06/2020 | 6-K |
| 03/31/2020 | 05/07/2020 | 6-K |
| 12/31/2019 | 03/18/2020 | 20-F |
| 09/30/2019 | 11/07/2019 | 6-K |
| 06/30/2019 | 08/08/2019 | 6-K |
| 03/31/2019 | 05/13/2019 | 6-K |
| 12/31/2018 | 03/12/2019 | 20-F |
| 09/30/2018 | 11/08/2018 | 6-K |
| 03/31/2018 | 05/14/2018 | 10-Q |
| 09/30/2017 | 11/14/2017 | 10-Q |
| 06/30/2017 | 08/14/2017 | 10-Q |
Insider Activity
Updated 6/29/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Al-Nowais, Yousif Mohammed Ali Nasser | Al Nowais Investments LLC | Sell | 6292026 | 26.80 | 1,919,594 | 51,445,119 | 6,142,506 | Form | |
| 2 | Al-Nowais, Yousif Mohammed Ali Nasser | Al Nowais Investments LLC | Sell | 6162026 | 26.90 | 332,857 | 8,955,184 | 57,811,094 | Form | |
| 3 | Al-Nowais, Yousif Mohammed Ali Nasser | Al Nowais Investments LLC | Sell | 6162026 | 26.13 | 1,068,593 | 27,923,076 | 64,847,209 | Form | |
| 4 | Al-Nowais, Yousif Mohammed Ali Nasser | Al Nowais Investments LLC | Sell | 6102026 | 25.55 | 200 | 5,110 | 90,708,683 | Form | |
| 5 | Al-Nowais, Yousif Mohammed Ali Nasser | Al Nowais Investments LLC | Sell | 6102026 | 25.53 | 5,526 | 141,079 | 90,642,784 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Al-Nowais, Yousif Mohammed Ali Nasser | Al Nowais Investments LLC | Sell | 6292026 | 26.80 | 1,919,594 | 51,445,119 | 6,142,506 | Form | |
| 2 | Al-Nowais, Yousif Mohammed Ali Nasser | Al Nowais Investments LLC | Sell | 6162026 | 26.90 | 332,857 | 8,955,184 | 57,811,094 | Form | |
| 3 | Al-Nowais, Yousif Mohammed Ali Nasser | Al Nowais Investments LLC | Sell | 6162026 | 26.13 | 1,068,593 | 27,923,076 | 64,847,209 | Form | |
| 4 | Al-Nowais, Yousif Mohammed Ali Nasser | Al Nowais Investments LLC | Sell | 6102026 | 25.55 | 200 | 5,110 | 90,708,683 | Form | |
| 5 | Al-Nowais, Yousif Mohammed Ali Nasser | Al Nowais Investments LLC | Sell | 6102026 | 25.53 | 5,526 | 141,079 | 90,642,784 | Form | |
| 6 | Al-Nowais, Yousif Mohammed Ali Nasser | Al Nowais Investments LLC | Sell | 5272026 | 26.12 | 457,391 | 11,947,053 | 92,881,884 | Form | |
| 7 | Al-Nowais, Yousif Mohammed Ali Nasser | Al Nowais Investments LLC | Sell | 5272026 | 26.14 | 242,497 | 6,338,872 | 104,909,204 | Form | |
| 8 | Al-Nowais, Yousif Mohammed Ali Nasser | Al Nowais Investments LLC | Sell | 5222026 | 26.14 | 573,544 | 14,992,440 | 111,248,076 | Form | |
| 9 | Al-Nowais, Yousif Mohammed Ali Nasser | Al Nowais Investments LLC | Sell | 5202026 | 26.13 | 3,500 | 91,455 | 126,192,222 | Form | |
| 10 | Al-Nowais, Yousif Mohammed Ali Nasser | Al Nowais Investments LLC | Sell | 5202026 | 26.06 | 220,568 | 5,748,002 | 125,945,374 | Form | |
| 11 | Al-Nowais, Yousif Mohammed Ali Nasser | Al Nowais Investments LLC | Sell | 5152026 | 26.35 | 81,302 | 2,142,438 | 133,166,967 | Form | |
| 12 | Al-Nowais, Yousif Mohammed Ali Nasser | Al Nowais Investments LLC | Sell | 5152026 | 26.85 | 223,626 | 6,004,112 | 137,862,926 | Form |
Industry Resources
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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