NOV Inc

Latest Results (19.11.2025):

NOV Inc. reported its third quarter 2025 financial results, demonstrating steady revenue performance with a few challenging headwinds. The company achieved revenues of $2.18 billion, though net income declined to $42 million ($0.11 per share), reflecting a tougher operating environment compared to the same quarter last year. Despite a 10% year‐over‐year drop in Adjusted EBITDA to $258 million, strong operational execution, demonstrated by a robust free cash flow of $245 million and a book-to-bill ratio of 141% on new orders totaling $951 million, underlines the company’s resilience. Additionally, NOV Inc. announced a board expansion with the appointment of Jose Bayardo, reinforcing its long-term strategic vision.

Revenue and Profitability

NOV Inc.'s third quarter 2025 revenues were $2.18 billion, down 1% year-over-year, while net income fell 68% to $42 million, or $0.11 per share. Operating profit dropped 45% to $107 million, reflecting pressure on margins in a challenging market.

Adjusted EBITDA and Cash Flow

Adjusted EBITDA decreased 10% year-over-year to $258 million, and free cash flow remained robust at $245 million, supported by improved working capital management and ongoing cost control measures.

Order Book and Book-to-Bill Ratio

The company registered new orders of $951 million, achieving a book-to-bill ratio of 141%, a strong indicator of future revenue potential as offshore production and global natural gas developments continue to drive demand.

Segment Performance

Within its segments, Energy Equipment grew its revenues by 2% to $1,247 million and delivered solid margin improvement with Adjusted EBITDA up by $21 million. In contrast, Energy Products and Services experienced a revenue decline to $971 million and faced margin pressures due to lower drilling activity, unfavorable sales mix, and inflationary challenges.

Outlook and Strategic Developments

Looking ahead to the fourth quarter 2025, NOV Inc. expects a consolidated revenue decline of 5–7% and anticipates Adjusted EBITDA between $230 million and $260 million. The company continues to drive efficiency and operational improvements while positioning itself for long-term growth and value creation, as reinforced by its recent board appointment of Jose Bayardo.