undamentalytics Newsletter
Sign in

National Energy Services Reunited Corp. (NESR) stock

Add to watchlist

Add holding +

NASDAQ: NESR Nasdaq Oil & Gas Equipment & Services Next results ~November 12, 2026

National Energy Services Reunited Corp. is a US-listed company in the oil & gas equipment & services industry. Its financial year ends in December.

Stock price today

Loading chart…

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.

National Energy Services Reunited Corp. 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, 4 selling0 purchases and 17 sales by directors and officers, last 12 monthsInsider trades
  • Funds141 adding, 90 cuttingOf 57 active managers that changed their stake, 30 added; quarter to June 30, 2026Fund buyers and sellers

The Fundamentalytics view

Next results ~November 12, 2026 (estimated)

Current signal Net income rising while operating cash flow falls: TTM net income grew 43.6% while operating cash flow fell 27.5% — earnings and cash are telling different stories.

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

  • Margins widening. Operating margin is up 4.8 points on a year ago.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Results due soon. Results are expected around 5 November; the share price can move sharply on the day.
  • Loss-making. Operating margin is -0.1%: costs exceed revenue.
  • Burning cash. Free cash flow was -3.3% of revenue over the last 12 months.
  • Share dilution. Diluted shares rose 2.1% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 59% and a beta of 1.7 against the S&P 500.
  • Insiders selling. 4 insiders sold $142M of stock over the past 365 days and none bought (0% under pre-set trading plans).

Latest results: FY2026 Q2

Filed August 10, 2026
Earnings per share
$0.44 against an average estimate of $0.35: beat by 24.7%
Revenue
$521m, up 59.1% on a year earlier
Share reaction
+24.1% in the first session after the results on August 10, 2026, against -0.3% for the S&P 500
Next report
November 12, 2026; average EPS estimate $0.36

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

Price chart

  • 1 day-1.6%
  • 1 week+3.4%
  • 1 month-15.0%
  • This year+33.9%
  • 1 year+66.2%
  • S&P 500 this year+11.2%

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

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Earnings

Last results
August 10, 2026
Next results (est.)
November 5, 2026

News & updates

Updated October 31, 2026

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

  1. Insider trade
  2. Insider trade
  3. Results
  4. Leadership

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

National Energy Services Reunited Corp. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: data-quality checks not passed.

Valuation multiples over time Market data may be delayed

At fiscal year end 20242025
Share price$8.96$15.66
Market value$858m$1.6bn
+ Net debt (− = net cash)$279m$185m
Enterprise value$1.1bn$1.7bn
Multiples
Price / sales 0.7x1.2x
Price / earnings 11.2x30.4x
Price / free cash flow 6.9x12.8x
EV / EBITDA 4.1x7.2x

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

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Low.

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 12, 2026, before the open. Analysts expect revenue of $496m and EPS of $0.36 (range $0.32 to $0.39) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $1.65 +99% $2.0bn +50%
Next $2.56 +56% $2.5bn +26%

Next year's EPS estimate has moved +2.8% in 90 days, across 9 analysts.

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.35 $0.44 +24.7%
Mar 2026 $0.21 $0.26 +24.6%
Dec 2025 $0.25 $0.32 +26.0%
Sept 2025 $0.15 $0.16 +6.6%

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

Analyst recommendations

9 analysts, Oct 2026
Buy9100%
Hold00%
Sell00%

Monthly trend

  1. Oct 2026459
  2. Sep 2026448
  3. Aug 2026437
  4. Jul 2026437

Counts of recommendations published by analysts covering National Energy Services Reunited Corp., 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
5.9%
of tradable shares
Days to cover
2.75
at average volume
Short interest, 1 month
+13%
to September 30, 2026
Held by institutions
93%
of shares
Held by insiders
8.0%
of shares
Employees
7,352
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

Return and risk by year

Calendar year 20252026 to date
Return
NESR+75%+34%
Industry peers (median)−1%+18%
S&P 500+18%+11%
Months that ended higher
NESR58%46%
S&P 50075%46%
Largest fall from a high during the year
NESR−42%−48%
S&P 500−19%−9%

Worst fall since July 9, 2024: 48% from August 14, 2026 to October 16, 2026. Getting back needed a 94% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$12.31 – $36.31
From 52-week high
−42.2%
vs 50-day average
−24.2%
vs 200-day average
−18.0%
Volatility (1 year)
59%
Beta vs S&P 500
1.71

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
3 up, 0 down
typical move ±19.6%
After a week
3 up, 0 down
typical move ±20.8%
After a month
2 up, 1 down
typical move ±7.7%
Results releasedNext dayS&P 500 next day5 days21 days
August 10, 2026 +24.1% −0.3% +23.3% +19.6%
May 11, 2026 +16.2% +0.1% +12.5% +1.9%
February 17, 2026 +18.4% +0.7% +26.5% −1.5%

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

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q, 20-F. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar National Energy Services Reunited took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $1.3B
  2. Cost of revenue $1.2B · 87.6%
  3. Gross profit $165M · 12.4%
  4. Selling, general and admin $47.6M · 3.6%
  5. Other operating costs $18.8M · 1.4%
  6. Operating income $98.3M · 7.4%
  7. Income tax $9.3M · 0.7%
  8. Interest and other $37.9M · 2.9%
  9. Net income $51.1M · 3.9%

Shares of revenue. Source: National Energy Services Reunited's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

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

Fiscal year 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025
Income
Revenue 834 877 910 1,146 1,302 1,324
Gross profit 78 3 65 149 209 165
EBITDA 156 79 115 223 280 240
Operating income 35 −43 −1 81 138 98
Net income 17 −65 −36 13 76 51
Diluted EPS $0.18 −$0.71 −$0.39 $0.13 $0.80 $0.52
Growth (year on year)
Revenue — +5.1% +3.7% +26.0% +13.6% +1.7%
EBITDA — −49.5% +45.9% +94.0% +25.8% −14.4%
Operating income — −222.8% — — +70.6% −28.6%
Net income — — — — — −33.0%
Diluted EPS — — — — — −35.0%
Margins
Gross margin 9.3% 0.3% 7.2% 13.0% 16.0% 12.4%
EBITDA margin 18.7% 9.0% 12.6% 19.5% 21.5% 18.1%
Operating margin 4.2% −4.9% −0.1% 7.0% 10.6% 7.4%
Net margin 2.0% −7.4% −4.0% 1.1% 5.9% 3.9%
Free-cash-flow margin — 2.4% −3.3% 9.5% 9.5% 9.1%
Cash flow
Cash from operations 134 128 93 177 229 264
Capital spending — 107 122 68 105 143
Free cash flow — 21 −30 109 124 121
Stock-based pay 8 10 9 7 6 8
Free cash flow after stock pay — 11 −39 102 118 112
Balance sheet
Cash 75 206 79 68 108 125
Total debt 402 596 544 457 387 310
Net debt (negative = net cash) 327 391 465 390 279 185
Diluted shares 89m 91m 93m 95m 96m 99m

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 · $2.1bn
Short-term assets $815mLonger-term assets $1.3bn
What it owes, and who funded it · $2.1bn
Short-term liabilities $802mLonger-term liabilities $253mShareholders' equity $1.0bn
  • Short-term assets cover short-term liabilities $815m of assets due within a year against $802m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $815m short-term assets against $253m of longer-dated liabilities.
  • More cash than debt $175m of cash against $224m of debt.
  • Debt below 40% of shareholders' equity Debt is 22% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 62% to 22% over five years.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From National Energy Services Reunited Corp.'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.

Competitors: side by side with peers

Closest by revenue in oil & gas equipment & services
Last 12 months unless stated NESR NOA TISI FET AESI SEI Median
Revenue, last 12 months $910m $919m $894m $874m $1.1bn $762m $1.1bn
Revenue growth, last 12 months 3.7% 8.0% 2.6% 10.6% −8.1% 70.5% 3.7%
Revenue growth, 3-year average — 26.2% 0.8% 5.5% 20.7% 31.4% 2.0%
Revenue growth, latest quarter 59.1% — −7.8% 20.7% 1.6% 46.9% 8.7%
Gross margin 7.2% 12.6% 24.7% 30.6% 7.1% — 21.0%
Operating margin −0.1% 8.5% 0.8% 7.4% −8.3% 24.3% 7.2%
Operating margin, 3-year average — 7.2% 0.5% −0.4% 7.0% 19.7% 7.2%
Net margin −4.0% 2.6% −3.7% 3.5% −11.1% 7.2% 2.6%
Cash from operations / revenue 10.2% 20.6% 1.4% 7.8% 5.1% 55.7% 10.9%
Free-cash-flow margin −3.3% −1.7% 0.1% 7.1% −17.2% −95.5% 1.2%
Free-cash-flow margin, 3-year average — 1.6% −0.6% 8.1% −14.3% −58.2% 4.0%
Stock pay / revenue 1.0% −0.0% 0.2% 1.2% 3.3% 3.9% 1.1%
Change in share count 2.1% −2.4% 1.5% −6.0% 6.8% — 1.1%

Median of all 36 companies we cover in oil & gas equipment & services. 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
Products and services
Line of business Revenue Share YoY
Production Services $816M 61.6% ▼ 7.1%
Drilling and Evaluation Services $508M 38.4% ▲ 19.9%
Geography
Region Revenue Share YoY
MENA $1.3B 99.4% ▲ 2.6%
Rest of World $8.1M 0.6% ▼ 56.8%

From National Energy Services Reunited Corp.'s 10-K filed March 6, 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
$2.1B
Institutions reporting
226
Shares held vs prior quarter
▲ 13.2%
Positions opened / closed
63 / 25

Top buyers and sellers, Q2 2026: 141 institutions bought and 90 sold ; the biggest buyer was FMR LLC (+1.7M shares) and the biggest seller Scf Partners, Inc (−1.5M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
FMR LLC $327M 10.9M 15.6% ▲ 19.0%
Blackrock, Inc. $145M 4.8M 6.9% ▲ 31.1%
T. Rowe Price Investment Management, Inc. $118M 3.9M 5.6% ▲ 20.9%
Encompass Capital Advisors LLC $92.9M 3.1M 4.4% ▼ 27.2%
Dimensional Fund Advisors LP $89.1M 3.0M 4.3% ▲ 51.8%
Boston Partners $64M 2.1M 3.1% ▼ 3.3%
Alyeska Investment Group, L.P. $57.3M 1.9M 2.7% ▲ 250.1%
Holocene Advisors, LP $55.2M 1.8M 2.6% ▲ 94.6%
Geode Capital Management, LLC $54.1M 1.8M 2.6% ▲ 96.6%
Ameriprise Financial Inc $51.6M 1.7M 2.5% ▲ 29.3%
Goldman Sachs Group Inc $50.7M 1.7M 2.4% ▲ 97.1%
Dodge & Cox $47.8M 1.6M 2.3% ▼ 0.3%

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 National Energy Services Reunited Corp.'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 → $142M 17 trades by 4 insiders · 0% under pre-set plans
Net ▼ $142M net selling
Insider Date Trade Shares Price Value
Campo Mejia Antonio J Director September 9, 2026 Sell 63,324 $35.45 $2.2M
Foda Sherif Chief Executive Officer August 31, 2026 Sell 100,000 $35.00 $3.5M
Angeli Stefan Chief Financial Officer August 18, 2026 Sell 13,570 $35.12 $476,578
Al-Nowais Yousif Mohammed Ali Nasser Director June 25, 2026 Sell 1,919,594 $26.80 $51.4M
Al-Nowais Yousif Mohammed Ali Nasser Director June 13, 2026 Sell 6,471 $27.61 $178,664
Al-Nowais Yousif Mohammed Ali Nasser Director June 13, 2026 Sell 326,386 $26.89 $8.8M
Al-Nowais Yousif Mohammed Ali Nasser Director June 12, 2026 Sell 117,762 $26.54 $3.1M
Al-Nowais Yousif Mohammed Ali Nasser Director June 12, 2026 Sell 950,831 $26.08 $24.8M
Al-Nowais Yousif Mohammed Ali Nasser Director June 9, 2026 Sell 200 $25.55 $5,110
Al-Nowais Yousif Mohammed Ali Nasser Director June 8, 2026 Sell 5,526 $25.53 $141,079
Al-Nowais Yousif Mohammed Ali Nasser Director May 26, 2026 Sell 457,391 $26.12 $11.9M
Al-Nowais Yousif Mohammed Ali Nasser Director May 22, 2026 Sell 242,497 $26.14 $6.3M

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 1 trade and filings

No trades in National Energy Services Reunited Corp. disclosed in the last 12 months; 1 earlier trade on record.

  • Chris Jacobs(R-NY 27):Purchase, $1,001 - $15,000, traded December 12, 2022, filed January 20, 2023

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 5, 2026 estimated from the company's past filing pattern, not announced

  • August 10, 2026
  • May 11, 2026
  • February 17, 2026

Recent SEC filings

Data status

When each part of this page on National Energy Services Reunited Corp. 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.

National Energy Services Reunited Corp. in brief

What does National Energy Services Reunited Corp. do?
National Energy Services Reunited Corp. is a US-listed company in the oil & gas equipment & services industry. Its financial year ends in December.
What is National Energy Services Reunited Corp.'s stock ticker?
National Energy Services Reunited Corp. trades under the ticker NESR on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
Who are National Energy Services Reunited Corp.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are FMR LLC, Blackrock, Inc. and T. Rowe Price Investment Management, Inc. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is National Energy Services Reunited Corp.'s market cap?
On December 31, 2025, National Energy Services Reunited Corp.'s market capitalisation was about $1.6B, with a price-to-earnings ratio of 30.4 and net debt of $185M. Market figures come from third-party market data and may be delayed.
How much debt does National Energy Services Reunited Corp. have?
National Energy Services Reunited Corp.'s debt-to-equity ratio is 21.5%, from its latest balance sheet (62.0% five years earlier). The financial health section below sets out its other solvency checks.
Who are National Energy Services Reunited Corp.'s competitors?
In our Oil & Gas Equipment & Services peer group, the companies closest to National Energy Services Reunited Corp. are North American Construction Group Ltd., Team Inc, Forum Energy Technologies, Inc., Atlas Energy Solutions Inc. and Solaris Energy Infrastructure, Inc. The side-by-side comparison below sets their revenue, margins and growth against National Energy Services Reunited Corp.'s.
Are insiders buying or selling National Energy Services Reunited Corp. stock?
Over the last 12 months, National Energy Services Reunited Corp.'s directors and officers reported 0 open-market purchases and 17 sales on Form 4. The insider trading page charts every trade.
When is National Energy Services Reunited Corp.'s next earnings date?
Around November 12, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — National Energy Services Reunited Corp. announces its own schedule.