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MARKETS / NASDAQ / NESR
NASDAQ · OIL & GAS FIELD SERVICES, NEC · MID CAP

National Energy Services Reunited Corp. NESR

9 fiscal years on record · USD · FY2025 reported · SEC filings only
$1.3B
▲ 1.7% YoY
$51.1M
▼ 33.0% YoY
$120.8M
▼ 2.8% YoY
In brief

What this company does

NESR provides upstream and midstream oilfield services to oil and natural gas companies. It also operates throughout the MENA region, including Saudi Arabia, Oman, Kuwait, the United Arab Emirates, Iraq, Algeria, Egypt and Libya. As of December 31, 2025, it employed 7,352 employees and independent contractors, of over 60 different nationalities. For the year ended December 31, 2025, revenues from four customers individually accounted for 49%, 9%, 8% and 7% of its consolidated revenues. NESR's revenues are primarily derived by providing production services such as hydraulic fracturing, coiled tubing, stimulation and pumping, cementing, nitrogen services, filtration services, pipelines and industrial services, production assurance, artificial lift services, completions and integrated production management. It also provides drilling and evaluation services such as rigs and integrated services, fishing and downhole tools, thru-tubing intervention, tubular running services, directional drilling, drilling and completion fluids, pressure control, well testing services, wireline logging services, and slickline services. Formed in January 2017, NESR filed a registration statement for its initial public offering in May 2017.

Written from the business description in National Energy Services Reunited Corp.'s annual report to the U.S. Securities and Exchange Commission, filed 6 March 2026. Every sentence was checked against that document before publication.

Growth
USD 1.3B
Revenue, FY2025 · full 9-year series below
Revenue $B Net income $B
FY2025 · Revenue 1.3 · Net income 0.1
0.5B1.0B201620172019202020212022202320242025
Compound annual growth
+13.3%
+9.7%
+25.3%
+23.6%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +9.7% a year over five years — but profit grew faster: net income at +25.3%, earnings per share at +23.6%.

The share count rose from 0.09B to 0.10B over the period.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
4 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 7.4% · Net 3.9%
5%10%-2%-4%-6%201620172019202020212022202320242025
ROE
FY2023 · ROE 1.6%
20%40%-2%-4%-6%201620172019202020212022202320242025

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 120.8
50M100M-10M-20M201620172019202020212022202320242025

Total assetsUSD 1.9B
CashUSD 124.8M
Gross debtUSD 255.9M
Net debtUSD 131.1M
Current ratio1.04×

Not available: we don't have the shareholders' equity figure for this period.

The 9-year record
9 fiscal years
Every figure from documents filed with the SEC · USD

The share count changed between 2017 and 2018, but the exact year can't be marked here — the underlying count wasn't on file for every year in that stretch.

row low → row highnegative
Metric 202520242023202220212020201920172016
Revenue $B1.31.31.10.90.90.8···
Operating income $B0.10.10.1−0.0−0.00.0·−0.0·
EBITDA $B0.20.30.20.10.10.2···
Income tax $B0.00.00.00.00.00.0···
Net income $B0.10.10.0−0.0−0.10.00.00.00.0
Free cash flow $B0.10.10.1−0.00.0····
EPS, diluted $0.520.800.13−0.39−0.710.18·−0.40·
Dividend / sh $·········
Payout %·········
ROE %··1.6−4.5−7.31.84.651.9·
Shares out B0.100.100.090.090.090.090.090.01·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 41 reconciliationsAUDITED

Reconciled in 10 of 19 fiscal years. 54 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityOil & Gas Field Services, NEC
Listed onNASDAQ
Incorporated inoutside the United States — SEC code D8
Fiscal year endsDecember 31
Data on record since2016

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