National Energy Services Reunited Corp. balance sheet

At the end of fiscal 2025, National Energy Services Reunited Corp. had total assets of $1.85bn, total liabilities of $884m and shareholders' equity of $968m. It held $125m in cash against $310m of debt.

Balance sheet

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

National Energy Services Reunited Corp.: balance sheet, annual
Fiscal year	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Cash and equivalents	75	206	79	68	108	125
Receivables	117	130	149	171	137	178
Inventory	94	94	111	98	97	95
Total current assets	511	627	538	542	541	630
Goodwill	621	645	645	645	645	645
Total assets	1,687	1,831	1,828	1,798	1,774	1,852
Accounts payable	145	—	—	—	—	—
Total current liabilities	436	432	544	533	504	605
Short-term debt	48	9	53	72	69	65
Long-term debt	309	509	392	332	254	191
Total debt	402	596	544	457	387	310
Total liabilities	827	1,010	1,026	976	865	884
Shareholders' equity	944	821	802	821	908	968
Non-controlling interests and other (assets − liabilities − equity)	−84	—	—	—	—	—
Shares outstanding	88m	91m	94m	95m	96m	101m

US$ millions unless shown otherwise. Fiscal quarters.

National Energy Services Reunited Corp.: balance sheet, quarterly
Quarter	2025 Q1Mar 2025	2025 Q2Jun 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Receivables	—	—	228	209
Inventory	—	—	96	126
Total current assets	—	—	690	815
Goodwill	—	—	645	645
Total assets	—	—	1,924	2,097
Total current liabilities	—	—	660	802
Short-term debt	—	—	65	65
Long-term debt	—	—	176	160
Total debt	—	—	240	224
Total liabilities	—	—	929	1,055
Shareholders' equity	920	937	995	1,042
Shares outstanding	—	—	101m	101m

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from National Energy Services Reunited Corp.'s SEC filings (10-K and 10-Q), retrieved November 1, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to National Energy Services Reunited Corp.