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Dnow Inc. (DNOW) stock

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NYSE: DNOW NYSE Trading Companies & Distributors Next results ~November 5, 2026

Dnow Inc. is a US-listed company in the trading companies & distributors industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: data-quality checks not passed.

Price vs value

Under review: data-quality checks not passed. We'll show the comparison once resolved.

Dnow Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 3 selling0 purchases and 7 sales by directors and officers, last 12 monthsInsider trades
  • Funds144 adding, 162 cuttingOf 53 active managers that changed their stake, 26 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Dnow files

Where Dnow stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $4.08bn, up 69.8% on a year earlier, faster than the 41.3% growth a quarter earlier. Free-cash-flow margin fell to 3.3% from 8.7% a year earlier. Operating margin narrowed to -5.0% from 3.9%. The diluted share count is up 47.1% on a year earlier, which dilutes existing holders. It passes 4 of our 5 financial-health checks.

Our model value for Dnow is under review, so past values are not shown until it is resolved.

Source: 10-Q filed August 6, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 5, 2026 (estimated)

Dnow Inc.'s trailing-twelve-month revenue grew 69.8% year on year, with a free-cash-flow margin of 3.3%.

Our discounted-cash-flow model values the business at ~$39 per share in the base case (~$29–$51 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Revenue growth accelerating: TTM revenue growth rose to 69.8% (+28.5pp vs the prior quarter).

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 69.8% over the last 12 months.
  • Growth speeding up. The growth rate is 28.5 points higher than a quarter earlier.

Things to watch

  • Results due soon. Results are expected around 4 November; the share price can move sharply on the day.
  • Loss-making. Operating margin is -5.0%: costs exceed revenue.
  • Margins narrowing. Operating margin is down 8.9 points on a year ago.
  • Share dilution. Diluted shares rose 47.1% in a year.
  • Gross margin slipping. Gross margin is down 6.6 points on a year ago.

Latest results: FY2026 Q2

Filed August 6, 2026
Earnings per share
$0.12 against an average estimate of $0.09: beat by 41.2%
Revenue
$1.31bn, up 108.1% on a year earlier
Share reaction
+16.2% in the first session after the results on August 6, 2026, against +0.5% for the S&P 500
Next report
November 5, 2026; average EPS estimate $0.15

Dnow's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-3.1%
  • 1 week-0.6%
  • 1 month+0.3%
  • This year+19.2%
  • 1 year+7.5%
  • 5 years+89.2%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$4.1B
Operating margin
-5.0%
Net margin
-4.9%
EPS (TTM, diluted)
$-1.28

Growth

Revenue growth
+69.8%
Change in growth rate
+28.5 pts
Share count change
+47.1%

Cash

Free cash flow (TTM)
$136M
FCF margin
3.3%
Stock pay % of revenue
0.8%

Earnings

Last results
August 6, 2026
Next results (est.)
November 4, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Announcement
  3. Deal
  4. Insider trade
  5. Insider trade
  6. Insider trade
  7. Results
  8. Announcement
  9. Announcement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Dnow Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: data-quality checks not passed.

Our value per share comes from a discounted-cash-flow model of Dnow Inc.'s free cash flow after stock-based pay ( $225M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Dnow Inc. as an operating company, with every model that fits that kind of business. Cost of equity 9.7%: the 10-year Treasury yield (4.9%) plus a beta of 1.05 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$39 ~$29–$51 Left out: far from the other models (more than 3x away from their median)
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$9.6 ~$5.9–$13 Included
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$15 ~$13–$18 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: This model is withheld pending its input or assumption review.
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: This model is withheld pending its input or assumption review.
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Dnow Inc. with Trading Companies & Distributors in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$15.82$20.47$11.03$11.64$11.24$7.18$8.54$12.70$11.32$13.01$13.25$15.80
Market value$1.7bn$2.2bn$1.2bn$1.3bn$1.2bn$786m$944m$1.4bn$1.2bn$1.4bn$1.6bn$2.5bn
+ Net debt (− = net cash)$101m$3m$99m$16m−$121m−$387m−$313m−$212m−$299m−$256m$247m$360m
Enterprise value$1.8bn$2.2bn$1.3bn$1.3bn$1.1bn$399m$631m$1.2bn$928m$1.1bn$1.8bn$2.8bn
Multiples
Price / sales 0.6x1.0x0.4x0.4x0.4x0.5x0.6x0.7x0.5x0.6x0.6x0.6x
Price / earnings ———24.3x——188.7x11.0x4.9x17.9x——
Price / free cash flow 5.4x9.5x—20.4x5.8x4.3x37.7x—7.2x4.8x11.7x18.2x
EV / EBITDA ——143.0x11.2x——19.7x8.0x5.5x8.0x——

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

24 /100

Weak moat

How hard Dnow's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median 1.9% of total assets over 10 years.

  • Pricing power 8 / 20

    Gross margin has been a median 20.2%, moving by 2.4 percentage points (standard deviation) across 9 years.

  • Durability 0 / 20

    Operating margin has been a median 1.7%; its worst year was -20.5%.

  • Cash conversion 11 / 20

    Free cash flow was positive in 8 of 10 years, at a median 6.8% of revenue.

  • Discipline 10 / 20

    The diluted share count rose 42.7% over five years; stock-based pay has been a median 0.6% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (29 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 5, 2026, before the open. Analysts expect revenue of $1.4bn and EPS of $0.15 (range $0.13 to $0.17) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $0.35 −60% $5.1bn +80%
Next $0.82 +138% $5.4bn +7%

Next year's EPS estimate has moved −2.6% in 90 days, across 5 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +8.8% on 90 days ago. In the last 30 days, 4 analysts raised Dnow Inc.'s forecast and 1 cut it.

Consensus EPS forecast Dnow Inc., last 90 days
$0.20 $0.40 $0.60 $0.80 $1.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $0.32 Current fiscal year, 60 days ago: $0.35 Current fiscal year, 30 days ago: $0.35 Current fiscal year, 7 days ago: $0.35 Current fiscal year, Now: $0.35 $0.35 Next fiscal year, 90 days ago: $0.85 Next fiscal year, 60 days ago: $0.82 Next fiscal year, 30 days ago: $0.82 Next fiscal year, 7 days ago: $0.82 Next fiscal year, Now: $0.82 $0.82

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $0.32$0.85
60 days ago $0.35$0.82
30 days ago $0.35$0.82
7 days ago $0.35$0.82
Now $0.35$0.82

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.09 $0.12 +41.2%
Mar 2026 $0.06 $0.01 −83.3%
Dec 2025 $0.14 $0.15 +7.1%
Sept 2025 $0.23 $0.26 +11.4%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 6, 2026

No numeric guidance in Dnow Inc.'s latest earnings release (filed August 6, 2026). Some companies give their outlook only on the earnings call.

How our valuation uses these forecasts

Our cash-flow model grows Dnow Inc.'s revenue by +22.9% next year and +11.3% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+28.5%, weight 64%) and the company's own record (+13.0%, weight 36%) . How the weights are set.

Analyst recommendations

4 analysts, Nov 2026
Buy375%
Hold125%
Sell00%

Monthly trend

  1. Nov 2026314
  2. Oct 2026314
  3. Sep 202644

Counts of recommendations published by analysts covering Dnow Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
7.4%
of tradable shares
Days to cover
4.22
at average volume
Short interest, 1 month
+2%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
1.7%
of shares
Employees
5,100
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +7.5%

$14.70 on October 31, 2025 to $15.80

ThenNowEffect
Revenue (last 12 months) $2.4bn $4.1bn +69.8%
P/S multiple 0.7x 0.6x −6.9%
Share count 107m 157m −32.0%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

Last 3 years +45.9%

$10.83 on November 3, 2023 to $15.80

ThenNowEffect
Revenue (last 12 months) $2.3bn $4.1bn +77.4%
P/S multiple 0.5x 0.6x +16.6%
Share count 111m 157m −29.5%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
DNOW+19%+49%−11%+15%+2%+19%
Industry peers (median)+34%−13%+31%−7%+6%+12%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
DNOW50%67%42%42%50%64%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
DNOW−40%−29%−39%−25%−31%−34%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 83% from December 7, 2016 to October 30, 2020. Getting back needed a 470% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$11.12 – $16.87
From 52-week high
−6.3%
vs 50-day average
0.0%
vs 200-day average
+12.1%
Volatility (1 year)
40%
Beta vs S&P 500
0.60

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
4 up, 8 down
typical move ±11.2%
After a week
4 up, 8 down
typical move ±12.8%
After a month
6 up, 6 down
typical move ±12.1%
Results releasedNext dayS&P 500 next day5 days21 days
August 6, 2026 +16.2% +0.5% +14.7% +13.4%
May 7, 2026 −3.2% +0.5% −1.3% +1.1%
February 20, 2026 −27.6% −0.3% −28.0% −28.2%
November 5, 2025 −7.1% −0.7% −11.2% −4.5%
August 6, 2025 −2.4% +0.7% −1.6% +4.7%
May 7, 2025 −9.3% +1.1% −2.7% −8.0%
February 13, 2025 +21.5% +1.1% +23.3% +7.0%
November 7, 2024 +3.6% +1.2% +6.1% +7.3%
August 7, 2024 −8.8% +1.6% −11.2% −14.4%
May 10, 2024 −7.3% +0.1% −8.4% −7.3%
February 15, 2024 +23.8% +0.2% +35.5% +43.6%
November 2, 2023 −3.2% +2.8% −9.3% −5.6%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Fundamentals

Revenue (TTM) Dnow Inc.
$2B $2.5B $3B $3.5B $4B $4.5B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $2.3B Revenue (TTM), FY23 Q4: $2.3B Revenue (TTM), FY24 Q1: $2.3B Revenue (TTM), FY24 Q2: $2.3B Revenue (TTM), FY24 Q3: $2.4B Revenue (TTM), FY24 Q4: $2.4B Revenue (TTM), FY25 Q1: $2.4B Revenue (TTM), FY25 Q2: $2.4B Revenue (TTM), FY25 Q3: $2.4B Revenue (TTM), FY25 Q4: $2.8B Revenue (TTM), FY26 Q1: $3.4B Revenue (TTM), FY26 Q2: $4.1B $4.1B

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $2.3B
FY23 Q4 $2.3B
FY24 Q1 $2.3B
FY24 Q2 $2.3B
FY24 Q3 $2.4B
FY24 Q4 $2.4B
FY25 Q1 $2.4B
FY25 Q2 $2.4B
FY25 Q3 $2.4B
FY25 Q4 $2.8B
FY26 Q1 $3.4B
FY26 Q2 $4.1B
Revenue growth, TTM YoY Dnow Inc.
0% 20% 40% 60% 80% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 14.4% Revenue growth, TTM YoY, FY23 Q4: 8.7% Revenue growth, TTM YoY, FY24 Q1: 2.4% Revenue growth, TTM YoY, FY24 Q2: 1.6% Revenue growth, TTM YoY, FY24 Q3: 1.9% Revenue growth, TTM YoY, FY24 Q4: 2.2% Revenue growth, TTM YoY, FY25 Q1: 4.7% Revenue growth, TTM YoY, FY25 Q2: 2.8% Revenue growth, TTM YoY, FY25 Q3: 3.2% Revenue growth, TTM YoY, FY25 Q4: 18.8% Revenue growth, TTM YoY, FY26 Q1: 41.3% Revenue growth, TTM YoY, FY26 Q2: 69.8% 69.8%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 14.4%
FY23 Q4 8.7%
FY24 Q1 2.4%
FY24 Q2 1.6%
FY24 Q3 1.9%
FY24 Q4 2.2%
FY25 Q1 4.7%
FY25 Q2 2.8%
FY25 Q3 3.2%
FY25 Q4 18.8%
FY26 Q1 41.3%
FY26 Q2 69.8%
Operating margin (TTM) Dnow Inc.
-10% -5% 0% 5% 10% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 6.2% Operating margin (TTM), FY23 Q4: 6.2% Operating margin (TTM), FY24 Q1: 6.0% Operating margin (TTM), FY24 Q2: 5.7% Operating margin (TTM), FY24 Q3: 5.1% Operating margin (TTM), FY24 Q4: 4.6% Operating margin (TTM), FY25 Q1: 4.6% Operating margin (TTM), FY25 Q2: 3.9% Operating margin (TTM), FY25 Q3: 4.3% Operating margin (TTM), FY25 Q4: -3.9% Operating margin (TTM), FY26 Q1: -5.5% Operating margin (TTM), FY26 Q2: -5.0% -5.0%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 6.2%
FY23 Q4 6.2%
FY24 Q1 6.0%
FY24 Q2 5.7%
FY24 Q3 5.1%
FY24 Q4 4.6%
FY25 Q1 4.6%
FY25 Q2 3.9%
FY25 Q3 4.3%
FY25 Q4 -3.9%
FY26 Q1 -5.5%
FY26 Q2 -5.0%
FCF margin (TTM) Dnow Inc.
0% 5% 10% 15% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 3.1% FCF margin (TTM), FY23 Q4: 7.4% FCF margin (TTM), FY24 Q1: 11.4% FCF margin (TTM), FY24 Q2: 8.6% FCF margin (TTM), FY24 Q3: 11.6% FCF margin (TTM), FY24 Q4: 12.2% FCF margin (TTM), FY25 Q1: 7.8% FCF margin (TTM), FY25 Q2: 8.7% FCF margin (TTM), FY25 Q3: 7.3% FCF margin (TTM), FY25 Q4: 4.8% FCF margin (TTM), FY26 Q1: 1.6% FCF margin (TTM), FY26 Q2: 3.3% 3.3%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 3.1%
FY23 Q4 7.4%
FY24 Q1 11.4%
FY24 Q2 8.6%
FY24 Q3 11.6%
FY24 Q4 12.2%
FY25 Q1 7.8%
FY25 Q2 8.7%
FY25 Q3 7.3%
FY25 Q4 4.8%
FY26 Q1 1.6%
FY26 Q2 3.3%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 3,414 4,296 4,105 3,010 2,107 2,648 3,127 2,951 1,619 1,632 2,136 2,321 2,373 2,820 4,083
Gross profit — — — — 345 501 630 586 292 357 506 539 531 478 631
EBITDA 180 241 202 −472 −169 9 114 −42 −392 32 150 170 143 −41 −127
Operating income 168 224 181 −510 −222 −41 73 −83 −420 9 131 144 109 −93 −204
Net income 108 147 116 −502 −234 −52 52 −97 −427 5 128 250 78 −89 −201
Diluted EPS $1.00 $1.37 $1.06 −$4.68 −$2.18 −$0.48 $0.47 −$0.89 −$3.91 $0.05 $1.13 $2.27 $0.71 −$0.76 −$1.28
Growth (year on year)
Revenue — +25.8% −4.4% −26.7% −30.0% +25.7% +18.1% −5.6% −45.1% +0.8% +30.9% +8.7% +2.2% +18.8% +69.8%
EBITDA — +33.9% −16.2% −333.7% — — — −136.8% — — — +13.3% −15.9% −128.7% −195.5%
Operating income — +33.3% −19.2% −381.8% — — — −213.7% — — — +9.9% −24.3% −185.3% −317.0%
Net income — +36.1% −21.1% −532.8% — — — — — — — +95.3% −68.8% −214.1% −395.6%
Diluted EPS — +37.0% −22.6% −541.5% — — — — — — — +100.9% −68.7% −207.0% −301.0%
Margins
Gross margin — — — — 16.4% 18.9% 20.1% 19.9% 18.0% 21.9% 23.7% 23.2% 22.4% 17.0% 15.5%
EBITDA margin 5.3% 5.6% 4.9% −15.7% −8.0% 0.3% 3.6% −1.4% −24.2% 2.0% 7.0% 7.3% 6.0% −1.5% −3.1%
Operating margin 4.9% 5.2% 4.4% −16.9% −10.5% −1.5% 2.3% −2.8% −25.9% 0.6% 6.1% 6.2% 4.6% −3.3% −5.0%
Net margin 3.2% 3.4% 2.8% −16.7% −11.1% −2.0% 1.7% −3.3% −26.4% 0.3% 6.0% 10.8% 3.3% −3.2% −4.9%
Free-cash-flow margin −0.8% 6.1% 1.7% 10.4% 11.0% −4.5% 2.0% 7.2% 11.2% 1.5% −0.4% 7.4% 12.2% 4.8% 3.3%
Cash flow
Cash from operations −12 317 108 324 235 −115 73 224 189 30 0 188 298 155 164
Capital spending 14 55 39 11 4 4 11 12 8 5 9 17 9 21 28
Free cash flow −26 262 69 313 231 −119 62 212 181 25 −9 171 289 134 136
Stock-based pay 6 6 18 27 23 20 16 13 6 8 11 15 13 29 31
Free cash flow after stock pay −32 256 51 286 208 −139 46 199 175 17 −20 156 276 105 105
Balance sheet
Cash 138 101 195 90 106 98 116 183 387 313 212 299 256 164 114
Total debt 0 0 0 191 109 197 132 62 0 0 0 0 0 411 474
Net debt (negative = net cash) −138 −101 −195 101 3 99 16 −121 −387 −313 −212 −299 −256 247 360
Diluted shares 107m 107m 108m 107m 107m 108m 109m 109m 109m 110m 111m 108m 107m 118m 157m
Returned to shareholders
Buybacks — — — — — — — — 0 0 7 50 23 37 85
Total returned — — — — — — — — 0 0 7 50 23 37 85

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

4 of 5 checks passed · June 30, 2026
What it owns · $3.8bn
Short-term assets $2.1bnLonger-term assets $1.7bn
What it owes, and who funded it · $3.8bn
Short-term liabilities $991mLonger-term liabilities $727mShareholders' equity $2.1bn
  • Short-term assets cover short-term liabilities $2.1bn of assets due within a year against $991m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $2.1bn short-term assets against $727m of longer-dated liabilities.
  • More cash than debt $114m of cash against $474m of debt.
  • Debt below 40% of shareholders' equity Debt is 23% of equity.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt $164m of operating cash flow against $474m of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Dnow Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q2 TTM
Buybacks (TTM)
$85M
Returned to shareholders
63%
of free cash flow
Buybacks, last 3 fiscal years
$110M
Diluted share count
+47.1%
year over year
Total shareholder yield
3.0%
dividends 0.0% + buybacks 3.0% of market value

Competitors: side by side with peers

Closest by revenue in trading companies & distributors
Last 12 months unless stated DNOW MSM SITE FTAI HRI AIT Median
Revenue, last 12 months $4.1bn $4.0bn $4.8bn $3.4bn $4.9bn $5.1bn $2.2bn
Revenue growth, last 12 months 69.8% 6.4% 2.9% 46.0% 19.4% 8.5% 8.5%
Revenue growth, 3-year average 21.0% 0.0% 4.4% 44.6% 14.9% 4.4% 6.3%
Revenue growth, latest quarter 108.1% 10.3% 2.6% 46.6% 4.6% 7.6% 10.3%
Gross margin 15.5% 40.9% 35.3% 37.1% — 30.4% 27.7%
Operating margin −5.0% 8.0% 5.5% — — 11.2% 5.3%
Operating margin, 3-year average 1.5% 8.7% 5.0% — — 11.0% 5.6%
Net margin −4.9% 5.6% 3.5% 15.0% 2.5% 8.4% 3.5%
Cash from operations / revenue 4.0% 7.6% 6.7% −15.0% 25.8% 8.9% 4.0%
Free-cash-flow margin 3.3% 5.6% 5.2% −17.2% 22.9% 8.3% 2.8%
Free-cash-flow margin, 3-year average 6.9% 6.7% 4.9% −11.5% 25.1% 9.1% 3.9%
Stock pay / revenue 0.8% 0.5% 0.6% 0.8% 0.6% 0.1% 0.5%
Change in share count 47.1% 0.2% −1.9% 1.6% 11.4% −2.8% −0.3%

Median of all 33 companies we cover in trading companies & distributors. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue Share YoY
Upstream $1.8B 62.3% ▲ 4.9%
Midstream $590M 20.9% ▲ 30.5%
Downstream and Industrial $288M 10.2% ▲ 41.2%
Gas Utilities $185M 6.6% ▲ 340.5%
Geography
Region Revenue Share YoY
United States $2.3B 81.3% ▲ 22.0%
International $312M 11.1% ▲ 30.0%
Canada $214M 7.6% ▼ 15.4%

From Dnow Inc.'s 10-K filed February 26, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$2.5B
Institutions reporting
300
Shares held vs prior quarter
▲ 1.5%
Positions opened / closed
39 / 56

Top buyers and sellers, Q2 2026: 144 institutions bought and 162 sold ; the biggest buyer was Greenhaven Associates Inc (+3.5M shares) and the biggest seller Dimensional Fund Advisors LP (−2.4M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $375M 28.9M 14.9% ▼ 2.6%
Wellington Management Group LLP $253M 19.5M 10.1% ▲ 15.6%
Vanguard Portfolio Management LLC $135M 10.4M 5.4% ▼ 0.3%
Vanguard Capital Management LLC $106M 8.2M 4.2% ▼ 1.5%
Dimensional Fund Advisors LP $103M 8.0M 4.1% ▼ 23.4%
State Street Corp $94.4M 7.3M 3.8% ▲ 2.5%
First Trust Advisors LP $85.7M 6.6M 3.4% ▲ 62.5%
Engine Capital Management, LP $67M 5.2M 2.7% ▲ 0.1%
Geode Capital Management, LLC $61.9M 4.8M 2.5% ▲ 4.7%
Renaissance Technologies LLC $60.9M 4.7M 2.4% ▲ 5.4%
Greenhaven Associates Inc $56.3M 4.3M 2.2% ▲ 426.8%
River Road Asset Management, LLC $51.1M 3.9M 2.0% ▼ 1.8%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Dnow Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $7.5M 7 trades by 3 insiders · 0% under pre-set plans
Net ▼ $7.5M net selling
Insider Date Trade Shares Price Value
Johnson Mark B See Remarks August 10, 2026 Sell 21,985 $16.79 $369,128
Johnson Mark B See Remarks August 10, 2026 Sell 50,181 $16.79 $842,539
Johnson Mark B See Remarks August 10, 2026 Sell 40,675 $16.79 $682,933
Cherechinsky David A President and CEO August 10, 2026 Sell 57,929 $16.73 $969,152
Cherechinsky David A President and CEO August 10, 2026 Sell 198,213 $16.73 $3.3M
Chang Raymond W VP and General Counsel August 10, 2026 Sell 32,617 $16.98 $553,837
Chang Raymond W VP and General Counsel August 10, 2026 Sell 43,621 $16.98 $740,685

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 2 trades and filings

No trades in Dnow Inc. disclosed in the last 12 months; 2 earlier trades on record.

  • Donna Shalala(FL):Sale (full), $1,001 - $15,000, traded June 24, 2019, filed April 27, 2020
  • Thomas MacArthur(NJ):Purchase, $15,001 - $50,000, traded January 19, 2016, filed February 6, 2016

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around November 4, 2026 estimated from the company's past filing pattern, not announced

  • August 6, 2026
  • May 7, 2026
  • February 20, 2026
  • November 5, 2025
  • August 6, 2025
  • May 7, 2025

Recent SEC filings

Data status

When each part of this page on Dnow Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Dnow Inc. in brief

What does Dnow Inc. do?
Dnow Inc. is a US-listed company in the trading companies & distributors industry. Its financial year ends in December.
What is Dnow Inc.'s stock ticker?
Dnow Inc. trades under the ticker DNOW on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Dnow Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Dnow Inc. reported revenue of $4.1B, 69.8% higher than a year earlier, according to its SEC filings.
What is Dnow Inc.'s free cash flow?
Dnow Inc.'s free-cash-flow margin is 3.3% of revenue over the trailing twelve months.
Who are Dnow Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Wellington Management Group LLP and Vanguard Portfolio Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Dnow Inc. buying back stock, and does it pay a dividend?
Dnow Inc. spent $85M on share repurchases over the trailing twelve months, and its diluted share count still rose 47.1% over the year.
What is Dnow Inc.'s market cap?
On November 2, 2026, Dnow Inc.'s market capitalisation was about $2.5B and net debt of $360M. Market figures come from third-party market data and may be delayed.
How much debt does Dnow Inc. have?
Dnow Inc.'s debt-to-equity ratio is 22.6%, from its latest balance sheet. The financial health section below sets out its other solvency checks.
Who are Dnow Inc.'s competitors?
In our Trading Companies & Distributors peer group, the companies closest to Dnow Inc. are MSC Industrial Direct Co Inc, Siteone Landscape Supply, Inc., FTAI Aviation Ltd., Herc Holdings Inc and Applied Industrial Technologies Inc. The side-by-side comparison below sets their revenue, margins and growth against Dnow Inc.'s.
Are insiders buying or selling Dnow Inc. stock?
Over the last 12 months, Dnow Inc.'s directors and officers reported 0 open-market purchases and 7 sales on Form 4. The insider trading page charts every trade.
When is Dnow Inc.'s next earnings date?
Around November 5, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Dnow Inc. announces its own schedule.