National Energy Services Reunited Corp. (NESR) quarterly cash flow statement — complete operating, investing & financing history
National Energy Services Reunited Corp. (NESR) cash flow statement — 8-year operating, investing & financing cash flows
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q4'21 | Q3'21 | Q2'21 | Q1'21 | Q4'20 | Q3'20 | Q2'20 | Q1'20 | Q4'19 |
|---|
| Cash from Operations | 174.01M | 30.75M | 138.59M | 6.68M | 98.49M | 20.48M | 46.26M | 70.79M | 42.66M | 69.62M | 36.52M | 12.97M | 35.3M | 32.99M | 46.48M | 47.42M | 33.45M | 42.65M | 9.95M | 43.8M |
| Operating CF Margin % | 33.42% | 7.6% | 34.8% | 2.26% | 30.08% | 6.76% | 13.46% | 21.05% | 13.13% | 23.45% | 11.88% | 6.14% | 16.19% | 14.04% | 21.88% | 22.24% | 15.32% | 20.98% | 4.99% | 23.65% |
| Operating CF Growth % | 76.69% | 50.09% | 199.59% | -90.56% | 130.86% | -70.58% | 26.67% | - | - | - | - | -72.64% | 5.52% | -22.65% | 367.2% | 8.26% | 58.42% | 6562.12% | -59.93% | 65.86% |
| Net Income | 44.02M | 23.83M | 7.8M | 17.74M | 15.2M | 10.39M | 26.84M | 20.62M | 18.87M | 9.98M | 2.26M | -85.79M | 1.93M | 7.82M | 11.47M | 16.52M | 11.67M | 10.51M | 11.95M | 3.72M |
| Depreciation & Amortization | 36.11M | 33.78M | 35.25M | 34.57M | 35.88M | 36.03M | 39.61M | 34.36M | 35.2M | 33.62M | 36.03M | 25.79M | 34.02M | 32.11M | 30.21M | 29M | 32.2M | 30.36M | 29.22M | 28.38M |
| Stock-Based Compensation | 0 | 0 | 2.57M | 2.17M | 1.72M | 1.86M | 2.46M | 1.54M | 677K | 1.35M | 1.54M | 2.41M | 2.75M | 3.04M | 1.56M | 1.99M | 2.08M | 2.13M | 1.64M | 1.6M |
| Deferred Taxes | 3.75M | 1.13M | -3.7M | -1.07M | 808K | -1.24M | -577K | -3.34M | 2.4M | -1.21M | -691K | -8.22M | -2.3M | -729K | -894K | -1.28M | -1.21M | -869K | -1.26M | -2.2M |
| Other Non-Cash Items | 2.85M | 3.29M | 19.55M | -1.17M | 75K | 1.55M | 6.13M | 4.74M | -389K | 5.6M | 6.58M | 10.01M | -1.06M | 889K | -47K | -9.07M | 188K | 388K | -24K | -6K |
| Working Capital Changes | 87.3M | -31.29M | 77.11M | -45.56M | 44.8M | -28.11M | -28.2M | 12.87M | -14.1M | 20.27M | -9.2M | 68.78M | -45K | -10.14M | 4.18M | 10.27M | -11.47M | 131K | -31.58M | 12.3M |
| Change in Receivables | 16.36M | -100.55M | 11.86M | -14.9M | -10.04M | -45.86M | 21.84M | 25.9M | -9.79M | -28.53M | 1.08M | -216K | -3.19M | 22.37M | 28.84M | -66.14M | -44.1M | -6.09M | -36.54M | 7.35M |
| Change in Inventory | -30.6M | -2.22M | 2.59M | 879K | 2.53M | -5.57M | 3.2M | -4.46M | -1.21M | 1.83M | 8.31M | 1.16M | 1.89M | -4.66M | -1.63M | -1.78M | -2.87M | -2.31M | -5.57M | -6.19M |
| Change in Payables | 120.08M | 61.42M | 0 | -586K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 7.93M |
| Cash from Investing | -73.13M | -36.44M | -45.45M | -44.35M | -30.95M | -31.49M | -26.98M | -27.45M | -15.34M | -41.36M | -1.97M | -75.67M | -17.05M | -58.68M | -13.13M | -17.78M | -39.63M | -22.25M | -23.96M | -17.37M |
| Capital Expenditures | -74.1M | -36M | -42.83M | -40.75M | -29.75M | -30.12M | -25.05M | -27.36M | -14.29M | -38.41M | -2.37M | -56.21M | -18.3M | -21.33M | -11.24M | -14.88M | -24.79M | -27.12M | -23.54M | -17.77M |
| CapEx % of Revenue | 14.23% | 8.9% | 10.76% | 13.8% | 9.09% | 9.94% | 7.29% | 8.14% | 4.4% | 12.94% | 0.77% | 26.59% | 8.39% | 9.08% | 5.29% | 6.98% | 11.35% | 13.34% | 11.81% | 9.6% |
| Acquisitions | 1.48M | 402K | 2.82M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -15M | 0 | -36.38M | -538K | -1.96M | -15M | 3.74M | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -500K | -833K | -5.44M | -3.6M | -2M | -1.36M | -1.92M | -96K | -1.05M | -2.96M | 512K | -4.46M | 1.24M | -972K | -1.35M | -949K | 155K | 1.12M | -417K | -17.37M |
| Cash from Financing | -18.25M | -25.3M | -30.12M | -24.45M | -14.44M | -18.26M | -29.5M | -165K | -15.08M | -33.32M | -29.03M | 167.48M | 16.7M | 2.5M | -19.13M | -5.11M | -22.65M | 9.9M | -10.2M | 3.69M |
| Debt Issued (Net) | -15.7M | -24.04M | -24.36M | -23.83M | -12.41M | -17.66M | -28.54M | 972K | -14.45M | -32.11M | -22.32M | 179M | 19.59M | 6.43M | -14.09M | -4.18M | -20.74M | 9.31M | -8.62M | 3.7M |
| Equity Issued (Net) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | -2.56M | -1.26M | -5.76M | -618K | -2.03M | -601K | -962K | -1.14M | -632K | -1.21M | -6.71M | -11.52M | -2.89M | -3.93M | -5.04M | -929K | -1.91M | 589K | -1.58M | -14K |
| Net Change in Cash | 82.04M | -31.84M | 55.11M | -62.12M | 53.11M | -29.26M | -10.21M | 43.17M | 12.24M | -5.06M | 5.52M | 104.75M | 34.94M | -23.19M | 14.26M | 24.52M | -28.83M | 30.3M | -24.18M | 30.12M |
| Free Cash Flow | 99.91M | -5.26M | 95.76M | -34.07M | 68.73M | -9.64M | 21.21M | 43.43M | 28.37M | 31.21M | 34.15M | -43.24M | 17M | 11.66M | 35.24M | 32.54M | 8.67M | 15.53M | -13.59M | 26.03M |
| FCF Margin % | 19.19% | -1.3% | 24.04% | -11.54% | 21% | -3.18% | 6.17% | 12.92% | 8.73% | 10.51% | 11.11% | -20.46% | 7.8% | 4.96% | 16.59% | 15.27% | 3.97% | 7.64% | -6.82% | 14.06% |
| FCF Growth % | 45.36% | 45.44% | 351.51% | -178.45% | 142.26% | -130.88% | -37.9% | - | - | - | - | -232.88% | 96.18% | -24.91% | 359.25% | 25.03% | 169.16% | 131.89% | -183.07% | 34.39% |
| FCF per Share | 0.97 | -0.05 | 0.94 | -0.34 | 0.70 | -0.10 | 0.22 | 0.45 | 0.30 | 0.33 | 0.36 | -0.47 | 0.18 | 0.12 | 0.38 | 0.36 | 0.10 | 0.18 | -0.16 | 0.30 |
| FCF Conversion (FCF/Net Income) | 3.95x | 1.29x | 17.76x | 0.38x | 6.48x | 1.97x | 1.72x | 3.43x | 2.26x | 6.97x | 16.15x | -0.15x | 18.28x | 4.22x | 4.05x | 2.87x | 2.87x | 4.06x | 0.83x | 11.76x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.31M | 2.88M | 2.24M | 2.46M | 2.52M | 6.18M | 0 | 3.97M | 3.89M |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.35M | 3.33M | 6.96M | 1.14M | 3M | 6.84M | 0 | 5.8M | 2.61M |