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Nabors Industries Ltd. (NBR) 10-Year Financial Performance & Capital Metrics

NBR • • Industrial / General
EnergyOil & Gas DrillingIntegrated Drilling ServicesFull-Service Drilling Providers
AboutNabors Industries Ltd. provides drilling and drilling-related services for land-based and offshore oil and natural gas wells. The company operates through five segments: U.S. Drilling, Canada Drilling, International Drilling, Drilling Solutions, and Rig Technologies. It provides tubular running, wellbore placement, directional drilling, measurement-while-drilling (MWD), equipment manufacturing, and rig instrumentation services; and logging-while-drilling systems and services, as well as drilling optimization software. The company also offers REVit, an automated real time stick-slip mitigation system; ROCKit, a directional steering control system; SmartNAV, a collaborative guidance and advisory platform; SmartSLIDE, an advanced directional steering control system; and RigCLOUD, which provides the tools and infrastructure to integrate applications to deliver real-time insight into operations across the rig fleet. In addition, it manufactures and sells top drives, catwalks, wrenches, drawworks, and other drilling related equipment, such as robotic systems and downhole tools; and provides aftermarket sales and services for the installed base of its equipment. As of December 31, 2021, the company marketed approximately 301 rigs for land-based drilling operations in the United States, Canada, and in 20 other countries worldwide; and 29 rigs for offshore platform drilling operations in the United States and internationally. Nabors Industries Ltd. was founded in 1952 and is based in Hamilton, Bermuda.Show more
  • Revenue $2.93B -2.5%
  • EBITDA $881M -43.5%
  • Net Income -$176M -1394.3%
  • EPS (Diluted) -22.37 -307.5%
  • Gross Margin 18.92% -53.2%
  • EBITDA Margin 30.08% -42.1%
  • Operating Margin 8.46% -72.2%
  • Net Margin -6.01% -1433.0%
  • ROE -14.16% -1399.8%
  • ROIC 5.53% -73.0%
  • Debt/Equity 2.10 -14.5%
  • Interest Coverage 1.18 -76.2%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Momentum leader: RS Rating 90 (top 10%)
  • ✓Trading at only 0.5x book value

✗Weaknesses

  • ✗High debt to equity ratio of 2.1x

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-8.08%
5Y-0.76%
3Y13.25%
TTM6.52%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM248.39%

EPS CAGR

10Y-
5Y-
3Y-
TTM175.27%

ROCE

10Y Avg10.01%
5Y Avg12.75%
3Y Avg14.69%
Latest6.2%

Peer Comparison

Full-Service Drilling Providers
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
NBRNabors Industries Ltd.901.05M61.88-2.77-2.52%6.62%13.16%1.5%2.10
HPHelmerich & Payne, Inc.3.18B32.27-19.5635.89%-4.37%-5.79%3.67%0.73

Profit & Loss

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+3.86B2.23B2.56B3.06B3.04B2.13B2.02B2.65B3.01B2.93B
Revenue Growth %-0.43%-0.42%0.15%0.19%-0%-0.3%-0.05%0.32%0.13%-0.03%
Cost of Goods Sold+2.37B1.34B1.72B1.98B2.81B1.34B1.29B1.67B1.79B2.38B
COGS % of Revenue0.61%0.6%0.67%0.65%0.92%0.63%0.64%0.63%0.6%0.81%
Gross Profit+1.49B883.54M846.22M1.08B237.96M798.03M730.23M987.76M1.22B554.31M
Gross Margin %0.39%0.4%0.33%0.35%0.08%0.37%0.36%0.37%0.4%0.19%
Gross Profit Growth %-0.35%-0.41%-0.04%0.28%-0.78%2.35%-0.08%0.35%0.23%-0.54%
Operating Expenses+365.58M261.22M302.25M336.02M309.09M240.01M249.13M278.37M300.44M306.38M
OpEx % of Revenue0.09%0.12%0.12%0.11%0.1%0.11%0.12%0.1%0.1%0.1%
Selling, General & Admin324.33M227.64M251.18M265.82M258.73M203.51M213.56M228.43M244.15M249.32M
SG&A % of Revenue0.08%0.1%0.1%0.09%0.09%0.1%0.11%0.09%0.08%0.09%
Research & Development41.25M33.58M51.07M70.19M50.36M36.5M35.57M49.94M56.3M57.06M
R&D % of Revenue0.01%0.02%0.02%0.02%0.02%0.02%0.02%0.02%0.02%0.02%
Other Operating Expenses0000000000
Operating Income+1.13B622.32M543.96M744.63M-71.13M558.02M481.1M709.39M915.16M247.93M
Operating Margin %0.29%0.28%0.21%0.24%-0.02%0.26%0.24%0.27%0.3%0.08%
Operating Income Growth %-0.36%-0.45%-0.13%0.37%-1.1%8.85%-0.14%0.47%0.29%-0.73%
EBITDA+2.1B1.5B1.39B1.61B804.96M1.44B1.17B1.37B1.56B881.34M
EBITDA Margin %0.54%0.67%0.54%0.53%0.26%0.67%0.58%0.52%0.52%0.3%
EBITDA Growth %-0.28%-0.29%-0.07%0.16%-0.5%0.78%-0.18%0.17%0.14%-0.44%
D&A (Non-Cash Add-back)973.32M874.3M845.44M868.51M876.09M878.24M693.38M665.07M645.29M633.41M
EBIT156.96M-249.31M-298.98M-108.19M-384.61M-317.29M-211.86M44.32M269.86M179.82M
Net Interest Income+-181.93M-184.15M-220.66M-222.17M-195.89M-201.57M-169.95M-162.42M-139.38M-171.77M
Interest Income01.22M2.23M4.96M8.42M4.71M1.53M15.47M45.9M39.1M
Interest Expense181.93M185.36M222.89M227.12M204.31M206.27M171.48M177.9M185.28M210.86M
Other Income/Expense-1.55B-1.82B-1.12B-1.26B-517.79M-1.26B-969.19M-955.07M-786.03M-278.97M
Pretax Income+-427.54M-1.2B-580.08M-518.79M-588.92M-705.57M-488.09M-245.68M129.12M-31.04M
Pretax Margin %-0.11%-0.54%-0.23%-0.17%-0.19%-0.33%-0.24%-0.09%0.04%-0.01%
Income Tax+-98.04M-186.83M-82.97M79.27M91.58M57.29M55.62M61.54M79.22M56.95M
Effective Tax Rate %0.87%0.86%0.94%1.24%1.23%1.14%1.17%1.43%-0.09%5.67%
Net Income+-372.68M-1.03B-546.81M-640.95M-723.88M-805.64M-569.27M-350.26M-11.78M-176.08M
Net Margin %-0.1%-0.46%-0.21%-0.21%-0.24%-0.38%-0.28%-0.13%-0%-0.06%
Net Income Growth %0.44%-1.76%0.47%-0.17%-0.13%-0.11%0.29%0.38%0.97%-13.94%
Net Income (Continuing)-329.5M-1.01B-497.11M-598.06M-680.5M-762.85M-543.71M-307.22M49.9M-87.99M
Discontinued Operations-50.62M0-56.73M-14.66M-12K7K20K000
Minority Interest11.16M7.77M230.96M454.34M492.75M548.26M803.57M846.44M954.47M1.07B
EPS (Diluted)+-65.85-186.23-97.42-95.84-96.77-118.69-76.58-40.52-5.49-22.37
EPS Growth %0.43%-1.83%0.48%0.02%-0.01%-0.23%0.35%0.47%0.86%-3.07%
EPS (Basic)-65.96-186.44-97.63-95.84-96.77-118.69-76.58-40.52-5.49-22.37
Diluted Shares Outstanding5.66M5.53M5.61M6.69M7.03M7.06M7.61M8.9M9.16M9.2M
Basic Shares Outstanding5.65M5.52M5.6M6.69M7.03M7.06M7.61M8.9M9.16M9.2M
Dividend Payout Ratio----------

Balance Sheet

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+1.48B1.16B1.45B1.59B1.25B1.13B1.52B1B1.65B999.54M
Cash & Short-Term Investments274.59M295.2M365.37M481.8M452.5M481.75M991.49M452.31M1.07B397.3M
Cash Only254.53M264.09M337M447.77M435.99M472.25M991.47M451.02M1.06B389.65M
Short-Term Investments20.06M31.11M28.37M34.04M16.51M9.5M17K1.29M12.69M7.65M
Accounts Receivable784.67M508.36M698.48M756.32M453.04M362.98M287.57M327.4M347.84M387.97M
Days Sales Outstanding74.1183.2999.4290.2854.3362.0852.0345.0342.2448.33
Inventory153.82M103.59M166.31M165.59M176.34M160.59M126.45M127.95M147.8M129.98M
Days Inventory Outstanding23.6828.1335.3330.5722.9443.8735.8528.0330.1319.97
Other Current Assets262.81M248.69M217.19M189.85M166.79M126.16M112.3M92.96M79.86M84.29M
Total Non-Current Assets+8.06B7.03B6.95B6.26B5.51B4.37B4.02B3.73B3.63B3.5B
Property, Plant & Equipment7.03B6.27B6.11B5.47B4.93B3.99B3.33B3.06B2.93B2.83B
Fixed Asset Turnover0.55x0.36x0.42x0.56x0.62x0.54x0.61x0.87x1.03x1.04x
Goodwill166.66M166.92M173.23M183.91M28.38M00000
Intangible Assets0000000000
Long-Term Investments415.18M893K-419M-345.09M000284.84M315.49M0
Other Non-Current Assets452.31M586.29M671.86M608.6M247.22M139.09M416.43M126.47M148.55M457.51M
Total Assets+9.54B8.19B8.4B7.85B6.76B5.5B5.53B4.73B5.28B4.5B
Asset Turnover0.41x0.27x0.31x0.39x0.45x0.39x0.37x0.56x0.57x0.65x
Asset Growth %-0.2%-0.14%0.03%-0.07%-0.14%-0.19%0%-0.14%0.12%-0.15%
Total Current Liabilities+1.01B821.93M919.48M832.08M656.55M515.47M525.23M596.39M1.21B571.92M
Accounts Payable271.98M264.58M363.42M392.84M295.16M220.92M253.75M314.04M294.44M321.03M
Days Payables Outstanding41.8671.8477.2172.5338.460.3671.9568.860.0349.32
Short-Term Debt6.51M297K181K561K13.48M05.42M6.78M629.62M0
Deferred Revenue (Current)1000K1000K1000K1000K1000K1000K1000K1000K1000K1000K
Other Current Liabilities189.96M152.59M169.72M159.97M117.01M104.23M123.35M138.25M135.65M-22.95M
Current Ratio1.47x1.41x1.57x1.92x1.90x2.20x2.89x1.68x1.36x1.75x
Quick Ratio1.31x1.28x1.39x1.72x1.63x1.88x2.65x1.46x1.23x1.52x
Cash Conversion Cycle55.9339.5857.5548.3338.8845.615.934.2612.3418.98
Total Non-Current Liabilities+4.24B4.11B4.34B3.87B3.63B3.29B3.61B2.92B2.78B2.73B
Long-Term Debt3.66B3.58B4.03B3.59B3.33B2.97B3.26B2.54B2.51B2.51B
Capital Lease Obligations000033.4M0027.79M022.14M
Deferred Tax Liabilities29.33M9.49M10.34M6.31M3.15M1.58M2.77M2.86M1.37M2.49M
Other Non-Current Liabilities582.27M522.46M301.63M274.49M258.79M318.03M340.35M349.89M270.01M196.2M
Total Liabilities5.24B4.93B5.26B4.7B4.29B3.8B4.13B3.51B4B3.3B
Total Debt+3.66B3.58B4.03B3.59B3.38B2.98B3.27B2.57B3.15B2.53B
Net Debt3.41B3.31B3.69B3.14B2.94B2.5B2.28B2.12B2.09B2.14B
Debt / Equity0.85x1.10x1.28x1.14x1.37x1.75x2.34x2.12x2.46x2.10x
Debt / EBITDA1.74x2.39x2.90x2.22x4.20x2.07x2.78x1.87x2.02x2.88x
Net Debt / EBITDA1.62x2.21x2.66x1.95x3.66x1.74x1.94x1.54x1.34x2.43x
Interest Coverage6.20x3.36x2.44x3.28x-0.35x2.71x2.81x3.99x4.94x1.18x
Total Equity+4.29B3.25B3.14B3.16B2.48B1.7B1.39B1.22B1.28B1.21B
Equity Growth %-0.13%-0.24%-0.03%0%-0.22%-0.31%-0.18%-0.13%0.05%-0.06%
Book Value per Share758.68588.62559.90471.77352.02240.78183.33136.59139.87131.10
Total Shareholders' Equity4.28B3.25B2.91B2.7B1.98B1.15B590.66M368.96M326.61M135M
Common Stock331K334K368K410K416K419K466K525K527K533K
Retained Earnings3.13B2.03B1.42B650.84M-104.78M-946.1M-1.54B-1.84B-1.89B-2.09B
Treasury Stock-1.29B-1.3B-1.31B-1.31B-1.31B-1.32B-1.32B-1.32B-1.32B-1.32B
Accumulated OCI-47.59M-12.12M11.19M-29.32M-11.79M-11.12M-10.63M-11.04M-10.83M-10.41M
Minority Interest11.16M7.77M230.96M454.34M492.75M548.26M803.57M846.44M954.47M1.07B

Cash Flow

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+856.56M531.9M62.76M325.77M684.56M349.76M428.78M501.09M637.86M581.43M
Operating CF Margin %0.22%0.24%0.02%0.11%0.22%0.16%0.21%0.19%0.21%0.2%
Operating CF Growth %-0.52%-0.38%-0.88%4.19%1.1%-0.49%0.23%0.17%0.27%-0.09%
Net Income-372.29M-1.03B-540.63M-612.73M-680.51M-762.85M-543.69M-307.22M49.9M-87.99M
Depreciation & Amortization970.44M874.3M845.44M868.51M876.1M853.7M693.38M665.07M645.29M633.41M
Stock-Based Compensation47.31M32M31.9M26.4M24.66M24.64M19.36M15.83M15.84M16.5M
Deferred Taxes-203.15M-206.67M9.1M71.58M35.89M64.72M-10.71M7.33M15.88M21.68M
Other Non-Cash Items428.81M769.82M101.87M188.18M291.75M177.96M82.3M114.84M-78.13M99.04M
Working Capital Changes-14.57M92.07M-384.91M-216.16M136.66M-8.4M188.13M5.23M-10.93M-101.22M
Change in Receivables529.15M250.4M-165.35M-66.49M276.69M67.5M71.81M-54.5M-27.13M-42.44M
Change in Inventory23.85M40.65M-17.44M-13.98M-18.7M6.19M32.04M928K-19.43M16.1M
Change in Payables-566.04M-180.2M79.2M-76.56M-142.86M-142.83M12.14M61.64M-32.39M-25.15M
Cash from Investing+-227.45M-382.12M-502M-367.09M-355.86M-165.46M-117.22M-368.71M-570.42M-555.46M
Capital Expenditures-867.11M-395.45M-574.47M-458.94M-427.74M-195.52M-234.04M-373.44M-540.85M-567.92M
CapEx % of Revenue0.22%0.18%0.22%0.15%0.14%0.09%0.12%0.14%0.18%0.19%
Acquisitions----------
Investments----------
Other Investing69.29M34.9M57.08M109.1M60.29M27.4M120.11M25.85M8.71M20.18M
Cash from Financing+-849.94M-138.22M512.18M155.63M-331.57M-148M488.42M-661.53M592.59M-662.05M
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid-69.36M-50.92M-68.5M-87.1M-49.58M-22.54M-7.38M-65K-194K-87K
Share Repurchases----------
Other Financing-5.64M-4.73M14.16M121.29M-11.07M-47.19M195.26M-18.87M-8.74M-14.94M
Net Change in Cash----------
Free Cash Flow+-10.55M136.45M-511.71M-133.16M256.82M154.24M194.74M127.64M97.01M13.51M
FCF Margin %-0%0.06%-0.2%-0.04%0.08%0.07%0.1%0.05%0.03%0%
FCF Growth %0.73%13.93%-4.75%0.74%2.93%-0.4%0.26%-0.34%-0.24%-0.86%
FCF per Share-1.8624.68-91.16-19.9136.5221.8525.6114.3510.591.47
FCF Conversion (FCF/Net Income)-2.30x-0.52x-0.11x-0.51x-0.95x-0.43x-0.75x-1.43x-54.13x-3.30x
Interest Paid168.98M184.44M191.99M202.8M00161.93M189.75M186.92M198.56M
Taxes Paid66.91M34.48M20.58M11.38M0011.22M29.19M49.49M73.8M

Key Ratios

Metric2015201620172018201920202021202220232024
Return on Equity (ROE)-8.09%-27.28%-17.09%-20.35%-25.71%-38.59%-36.8%-26.84%-0.94%-14.16%
Return on Invested Capital (ROIC)10.27%6.54%6.09%8.51%-0.91%8.7%9.16%15.19%20.47%5.53%
Gross Margin38.63%39.66%33%35.34%7.82%37.4%36.19%37.22%40.44%18.92%
Net Margin-9.64%-46.22%-21.32%-20.96%-23.79%-37.75%-28.22%-13.2%-0.39%-6.01%
Debt / Equity0.85x1.10x1.28x1.14x1.37x1.75x2.34x2.12x2.46x2.10x
Interest Coverage6.20x3.36x2.44x3.28x-0.35x2.71x2.81x3.99x4.94x1.18x
FCF Conversion-2.30x-0.52x-0.11x-0.51x-0.95x-0.43x-0.75x-1.43x-54.13x-3.30x
Revenue Growth-43.21%-42.35%15.1%19.24%-0.47%-29.88%-5.46%31.53%13.27%-2.52%

Revenue by Segment

2015201620172018201920202021202220232024
International Drilling-------1.2B1.35B1.45B
International Drilling Growth--------12.17%7.50%
Drilling Solutions---250.24M252.79M149.83M172.47M243.35M301.76M314.07M
Drilling Solutions Growth----1.02%-40.73%15.11%41.09%24.00%4.08%
Rig Technologies---270.99M---195.13M242.77M201.68M
Rig Technologies Growth--------24.41%-16.93%
US------669.66M---
US Growth----------
Rig Services---270.99M260.23M131.56M149.27M---
Rig Services Growth-----3.97%-49.45%13.47%---
U S---1.08B1.24B713.06M----
U S Growth----14.56%-42.54%----
Oil And Gas3.21M---------
Oil And Gas Growth----------

Revenue by Geography

2015201620172018201920202021202220232024
Non-US---------1.65B
Non-US Growth----------
UNITED STATES------804.81M--1.28B
UNITED STATES Growth----------
SAUDI ARABIA---------927.7M
SAUDI ARABIA Growth----------
Outside the U.S------1.21B1.33B1.53B-
Outside the U.S Growth-------9.69%14.88%-
U.S.-------1.32B1.48B-
U.S. Growth--------11.65%-
Saudi Arabia------645M712.8M821.1M-
Saudi Arabia Growth-------10.51%15.19%-
Non Us2.04B1.59B1.59B1.71B1.49B1.29B----
Non Us Growth--22.32%0.37%7.50%-12.94%-13.19%----
U1.82B642.84M973.46M1.35B1.55B841.53M----
U Growth--64.76%51.43%38.42%15.36%-45.86%----
S--727.7M764.5M696.4M642.7M----
S Growth---5.06%-8.91%-7.71%----

Frequently Asked Questions

Growth & Financials

Nabors Industries Ltd. (NBR) reported $3.12B in revenue for fiscal year 2024. This represents a 49% decrease from $6.06B in 2011.

Nabors Industries Ltd. (NBR) saw revenue decline by 2.5% over the past year.

Yes, Nabors Industries Ltd. (NBR) is profitable, generating $206.4M in net income for fiscal year 2024 (-6.0% net margin).

Dividend & Returns

Nabors Industries Ltd. (NBR) does not currently pay a meaningful dividend. The company may be reinvesting profits for growth.

Nabors Industries Ltd. (NBR) has a return on equity (ROE) of -14.2%. Negative ROE indicates the company is unprofitable.

Nabors Industries Ltd. (NBR) had negative free cash flow of $165.6M in fiscal year 2024, likely due to heavy capital investments.

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