National Energy Services Reunited Corp. (NESR) Financial Ratios
9 years of historical data (2017–2025) · Energy · Oil & Gas Equipment & Services
EV/EBITDA
↓
11.25
↑+35% vs avg
5yr avg: 8.34
30Y Low4.1·High15.9
P/FCF
↓
20.49
↑+23% vs avg
5yr avg: 16.67
30Y Low5.3·High41.6
P/B Ratio
↑
2.51
↑+146% vs avg
5yr avg: 1.02
30Y Low0.7·High2.0
ROE
↑
5.5%
↓+578% vs avg
5yr avg: 0.8%
30Y Low-7%·High14%
Debt/EBITDA
↓
1.46
↓-59% vs avg
5yr avg: 3.52
30Y Low1.5·High7.6
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
NESR Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
National Energy Services Reunited Corp. trades at 47.2x earnings, 60% above its 5-year average of 29.4x, sitting at the 83rd percentile of its historical range. Compared to the Energy sector median P/E of 15.4x, the stock trades at a premium of 206%. On a free-cash-flow basis, the stock trades at 20.5x P/FCF, 23% above the 5-year average of 16.7x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.5B | $1.6B | $857M | $578M | $645M | $860M | $885M | $793M | $428M |
| Enterprise Value | $2.7B | $1.8B | $1.2B | $995M | $1.1B | $1.3B | $1.2B | $1.1B | $427M |
| P/E Ratio → | 47.19 | 30.12 | 11.20 | 46.92 | — | — | 55.17 | 20.27 | 14.01 |
| P/S Ratio | 1.87 | 1.17 | 0.66 | 0.50 | 0.71 | 0.98 | 1.06 | 1.21 | 1.58 |
| P/B Ratio | 2.51 | 1.60 | 0.94 | 0.70 | 0.80 | 1.05 | 0.94 | 0.90 | 1.95 |
| P/FCF | 20.49 | 12.85 | 6.90 | 5.31 | — | 41.63 | 17.08 | — | 12.38 |
| P/OCF | 9.37 | 5.87 | 3.74 | 3.27 | 6.97 | 6.74 | 6.58 | 8.91 | 5.14 |
P/E links to full P/E history page with 30-year chart
NESR EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
National Energy Services Reunited Corp.'s enterprise value stands at 11.2x EBITDA, 35% above its 5-year average of 8.3x. The Energy sector median is 7.8x, placing the stock at a 44% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.34 | 0.89 | 0.87 | 1.25 | 1.43 | 1.45 | 1.68 | 1.57 |
| EV / EBITDA | 11.25 | 7.40 | 4.13 | 4.46 | 9.86 | 15.87 | 7.75 | 6.90 | 5.47 |
| EV / EBIT | 27.46 | 18.08 | 8.56 | 13.15 | 261.90 | — | 26.87 | 15.46 | 10.76 |
| EV / FCF | — | 14.71 | 9.32 | 9.15 | — | 60.50 | 23.32 | — | 12.36 |
NESR Profitability
Margins and return-on-capital ratios measuring operating efficiency
National Energy Services Reunited Corp. earns an operating margin of 7.4%, below the Energy sector average of 13.8%. ROE of 5.5% is modest, trailing the sector median of 7.2%. ROIC of 6.1% represents adequate returns on invested capital versus a sector median of 6.2%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 11.0% | 11.0% | 16.0% | 11.3% | 5.1% | -1.7% | 7.4% | 20.6% | 26.2% |
| Operating Margin | 7.4% | 7.4% | 10.6% | 7.0% | -0.1% | -4.9% | 4.2% | 10.9% | 14.6% |
| Net Profit Margin | 3.9% | 3.9% | 5.9% | 1.1% | -4.0% | -7.4% | 2.0% | 6.0% | 11.3% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| ROE | 5.5% | 5.5% | 8.8% | 1.5% | -4.5% | -7.3% | 1.8% | 7.1% | 14.0% |
| ROA | 2.8% | 2.8% | 4.3% | 0.7% | -2.0% | -3.7% | 1.0% | 4.5% | 13.2% |
| ROIC | 6.1% | 6.1% | 8.4% | 4.8% | -0.1% | -2.6% | 2.1% | 7.6% | 13.6% |
| ROCE | 7.8% | 7.8% | 10.9% | 6.3% | -0.1% | -3.2% | 2.7% | 9.4% | 17.4% |
NESR Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
National Energy Services Reunited Corp. carries a Debt/EBITDA ratio of 1.5x, which is manageable (44% below the sector average of 2.6x). Net debt stands at $225M ($350M total debt minus $125M cash). Interest coverage of 3.0x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.36 | 0.36 | 0.45 | 0.59 | 0.71 | 0.73 | 0.42 | 0.43 | — |
| Debt / EBITDA | 1.46 | 1.46 | 1.46 | 2.17 | 4.93 | 7.56 | 2.55 | 2.40 | — |
| Net Debt / Equity | — | 0.23 | 0.33 | 0.51 | 0.61 | 0.48 | 0.34 | 0.35 | -0.00 |
| Net Debt / EBITDA | 0.94 | 0.94 | 1.07 | 1.87 | 4.24 | 4.95 | 2.07 | 1.94 | -0.01 |
| Debt / FCF | — | 1.86 | 2.42 | 3.83 | — | 18.87 | 6.24 | — | -0.02 |
| Interest Coverage | 3.02 | 3.02 | 3.39 | 1.65 | 0.13 | -2.99 | 2.83 | 3.76 | 5.90 |
NESR Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.04x means National Energy Services Reunited Corp. can comfortably meet its short-term obligations, though there is limited excess liquidity.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.04 | 1.04 | 1.07 | 1.02 | 0.99 | 1.45 | 1.43 | 1.77 | 0.25 |
| Quick Ratio | 0.89 | 0.89 | 0.88 | 0.83 | 0.79 | 1.24 | 1.17 | 1.42 | 0.25 |
| Cash Ratio | 0.21 | 0.21 | 0.21 | 0.13 | 0.14 | 0.48 | 0.21 | 0.32 | 0.21 |
| Asset Turnover | — | 0.72 | 0.73 | 0.64 | 0.50 | 0.48 | 0.49 | 0.43 | 1.17 |
| Inventory Turnover | 12.42 | 12.42 | 11.29 | 10.32 | 7.81 | 9.50 | 8.19 | 6.63 | — |
| Days Sales Outstanding | — | 97.51 | 89.32 | 113.22 | 133.01 | 131.25 | 128.53 | 104.87 | — |
NESR Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
National Energy Services Reunited Corp. does not currently pay a dividend and has no material buyback yield, reinvesting earnings back into the business. The earnings yield of 2.1% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | 4.7% |
| Payout Ratio | — | — | — | — | — | — | — | — | 65.3% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.1% | 3.3% | 8.9% | 2.1% | — | — | 1.8% | 4.9% | 7.1% |
| FCF Yield | 4.9% | 7.8% | 14.5% | 18.8% | — | 2.4% | 5.9% | — | 8.1% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 4.7% |
| Shares Outstanding | — | $99M | $96M | $95M | $93M | $91M | $89M | $87M | $43M |
Peer Comparison
Compare NESR with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 NESRYou | $2B | 47.2 | 11.2 | 20.5 | 11.0% | 7.4% | 5.5% | 6.1% | 1.5 |
 PTEN | $4B | -41.8 | 5.1 | 10.2 | 4.8% | -0.5% | -2.8% | -0.4% | 1.4 |
 NINE | $487M | -9.0 | 17.0 | — | 10.7% | 0.1% | — | 0.1% | 7.7 |
 KLXE | $46M | -0.6 | 5.5 | — | 6.3% | -4.8% | — | -9.4% | 4.9 |
 OIS | $479M | -4.3 | 11.6 | 6.5 | 12.8% | -0.7% | -17.4% | -0.5% | 2.0 |
 SLB | $72B | 20.5 | 11.1 | 15.1 | 18.2% | 15.3% | 13.5% | 12.1% | 1.7 |
 HAL | $29B | 23.3 | 10.3 | 17.4 | 15.7% | 10.2% | 12.2% | 10.2% | 2.4 |
 BKR | $58B | 22.5 | 12.9 | 22.8 | 23.6% | 12.8% | 14.4% | 12.7% | 1.5 |
 WTTR | $2B | 88.5 | 11.2 | — | 14.0% | 2.5% | 2.3% | 2.3% | 1.8 |
 ACDC | $1B | -2.6 | 7.8 | 56.0 | 3.7% | -6.9% | -37.7% | -4.6% | 4.0 |
 NOV | $7B | 47.8 | 8.2 | 7.8 | 20.2% | 6.5% | 2.3% | 5.8% | 2.5 |
| Energy Median | — | 15.4 | 7.8 | 13.8 | 33.7% | 13.8% | 7.2% | 6.2% | 2.6 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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NESR — Frequently Asked Questions
Quick answers to the most common questions about buying NESR stock.
What is National Energy Services Reunited Corp.'s P/E ratio?
National Energy Services Reunited Corp.'s current P/E ratio is 47.2x. The historical average is 29.6x. This places it at the 83th percentile of its historical range.
What is National Energy Services Reunited Corp.'s EV/EBITDA?
National Energy Services Reunited Corp.'s current EV/EBITDA is 11.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 7.7x.
What is National Energy Services Reunited Corp.'s ROE?
National Energy Services Reunited Corp.'s return on equity (ROE) is 5.5%. The historical average is 3.4%.
Is NESR stock overvalued?
Based on historical data, National Energy Services Reunited Corp. is trading at a P/E of 47.2x. This is at the 83th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are National Energy Services Reunited Corp.'s profit margins?
National Energy Services Reunited Corp. has 11.0% gross margin and 7.4% operating margin.
How much debt does National Energy Services Reunited Corp. have?
National Energy Services Reunited Corp.'s Debt/EBITDA ratio is 1.5x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.