Last 28 quarters of trend data · Energy · Oil & Gas Equipment & Services
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
National Energy Services Reunited Corp.'s quarterly P/E stands at 23.3x, up 39.5% year-over-year — indicating the stock has re-rated higher or earnings have softened. EV/EBITDA has expanded 93.5% YoY to 8.7x, reflecting rising market expectations or slowing EBITDA growth.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q4 '23 | Q4 '21 | Q3 '21 | Q2 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 47.19 | 23.34 | 51.31 | 14.25 | 9.41 | 16.73 | 8.00 | 10.74 | 11.88 | 64.08 | — | 156.50 | 44.53 |
| — | +39.5% | +541.4% | +32.7% | -20.8% | -73.9% | — | -93.1% | -73.3% | +148.6% | — | +1175.5% | +210.7% | |
| P/S Ratio | 1.87 | 1.37 | 1.00 | 0.87 | 0.45 | 0.59 | 0.62 | 0.67 | 0.70 | 0.47 | 1.02 | 1.34 | 1.44 |
| — | +132.6% | +61.2% | +30.2% | -35.7% | +24.4% | -38.7% | -49.7% | -51.4% | -64.7% | -3.1% | +103.7% | +92.2% | |
| P/B Ratio | 2.51 | 2.22 | 1.65 | 1.08 | 0.63 | 0.77 | 0.94 | 1.03 | 1.07 | 0.71 | 1.05 | 1.18 | 1.37 |
| — | +187.2% | +75.2% | +4.4% | -41.1% | +9.5% | -9.9% | -12.2% | -22.2% | -39.7% | +10.5% | +90.4% | +105.9% | |
| P/FCF | 20.49 | — | 4.18 | — | 2.14 | — | 10.10 | 5.20 | 8.00 | 4.25 | — | 17.14 | 28.91 |
| — | — | -58.6% | — | -73.3% | — | — | -69.6% | -72.3% | -47.3% | — | +3.6% | +195.8% | |
| EV / EBITDA | 11.25 | 8.70 | 6.92 | 6.09 | 3.32 | 4.50 | 3.48 | 4.38 | 8.16 | 3.92 | — | 8.85 | 9.36 |
| — | +93.5% | +98.9% | +39.0% | -59.3% | +14.7% | — | -50.5% | -12.9% | -50.3% | — | +90.6% | +83.9% | |
| EV / EBIT | 27.46 | 16.85 | 14.88 | 16.83 | 7.71 | 12.23 | 7.23 | 8.53 | 9.23 | 12.31 | — | 54.45 | 32.14 |
| — | +37.8% | +105.8% | +97.2% | -16.5% | -0.7% | — | -84.3% | -71.3% | -45.1% | — | +335.6% | +129.5% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
National Energy Services Reunited Corp.'s operating margin was 8.9% in Q1 2026, up 1.2 pp QoQ and up 2.0 pp YoY. This marks the 3rd consecutive quarter of margin expansion, signaling a sustained improvement in operating efficiency. The trailing four-quarter average of 7.9% lags the current quarter, suggesting the recent improvement is above-trend. Gross margin expanded 7.8% YoY, indicating pricing power or improving input costs.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q4 '23 | Q4 '21 | Q3 '21 | Q2 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 11.0% | 11.7% | 10.9% | 10.4% | 12.0% | 10.8% | 17.2% | 15.9% | 16.4% | 14.4% | -53.5% | 12.5% | 15.5% |
| — | +7.8% | -36.8% | -34.6% | -26.8% | -25.2% | +132.2% | +27.5% | +5.3% | -10.0% | -467.0% | -25.3% | -9.7% | |
| Operating Margin | 7.4% | 8.9% | 7.7% | 6.6% | 8.3% | 6.9% | 12.7% | 10.5% | 10.5% | 9.0% | -38.6% | 3.7% | 6.0% |
| — | +28.9% | -39.2% | -37.0% | -21.2% | -22.9% | +132.9% | +183.7% | +74.7% | +19.3% | -775.3% | -57.2% | -31.6% | |
| Net Margin | 3.9% | 5.9% | 2.0% | 6.0% | 4.6% | 3.4% | 7.8% | 6.1% | 5.8% | 0.7% | -40.6% | 0.9% | 3.3% |
| — | +71.8% | -74.9% | -2.1% | -20.0% | +366.3% | +119.2% | +592.3% | +74.4% | -86.4% | -623.8% | -83.4% | -35.6% |
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q4 '23 | Q4 '21 | Q3 '21 | Q2 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 5.5% | 2.4% | 0.8% | 1.9% | 1.6% | 1.1% | 3.0% | 2.4% | 2.3% | 0.3% | -9.5% | 0.2% | 0.8% |
| — | +113.6% | -73.1% | -21.6% | -27.5% | +312.8% | +131.8% | +1121.6% | +182.0% | -77.0% | -636.7% | -84.6% | -31.1% | |
| ROA | 2.8% | 1.3% | 0.4% | 1.0% | 0.8% | 0.6% | 1.5% | 1.1% | 1.1% | 0.1% | -4.8% | 0.1% | 0.5% |
| — | +115.2% | -71.6% | -15.0% | -19.7% | +370.8% | +131.5% | +932.3% | +126.1% | -81.8% | -584.3% | -84.1% | -29.1% | |
| ROIC | 6.1% | 2.2% | 1.9% | 1.2% | 1.7% | 1.3% | 2.7% | 2.2% | 2.1% | 1.7% | -4.8% | 0.5% | 0.8% |
| — | +74.6% | -30.6% | -45.2% | -19.6% | -23.8% | +156.2% | +388.1% | +162.2% | +80.4% | -781.8% | -58.8% | -24.9% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
National Energy Services Reunited Corp.'s Debt/EBITDA ratio is 4.5x, down from 5.3x last quarter — elevated, raising questions about debt serviceability. The current ratio has weakened 5.4% YoY to 1.04x, tightening the short-term liquidity position. Debt/Equity has declined for 10 consecutive quarters, reflecting a deleveraging trend.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q4 '23 | Q4 '21 | Q3 '21 | Q2 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.36 | 0.31 | 0.36 | 0.37 | 0.41 | 0.43 | 0.45 | 0.50 | 0.51 | 0.59 | 0.73 | 0.43 | 0.46 |
| — | -26.3% | -19.7% | -25.7% | -20.5% | -27.9% | -37.9% | +16.1% | +11.9% | +40.0% | +72.0% | -6.6% | -8.5% | |
| Debt / EBITDA | 1.46 | 4.47 | 5.31 | 6.58 | 6.03 | 6.87 | 4.92 | 6.27 | 11.18 | 7.62 | — | 10.14 | 9.70 |
| — | -35.0% | +7.9% | +4.9% | -46.1% | -9.8% | — | -38.1% | +15.3% | -14.0% | — | +21.2% | +3.0% | |
| Current Ratio | 1.04 | 1.04 | 1.04 | 1.10 | 1.11 | 1.10 | 1.07 | 1.10 | 1.07 | 1.02 | 1.45 | 1.26 | 1.37 |
| — | -5.4% | -2.9% | -0.4% | +3.8% | +8.7% | -26.1% | -12.5% | -21.9% | -33.5% | +1.3% | -13.1% | -7.7% | |
| Quick Ratio | 0.89 | 0.90 | 0.89 | 0.92 | 0.93 | 0.90 | 0.88 | 0.91 | 0.89 | 0.83 | 1.24 | 1.02 | 1.08 |
| — | -0.4% | +0.5% | +0.7% | +5.2% | +8.6% | -28.7% | -10.9% | -17.8% | -32.7% | +5.5% | -12.7% | -10.6% | |
| Interest Coverage | 3.02 | 5.51 | 4.07 | 2.41 | 3.16 | 2.53 | 4.04 | 3.61 | 3.63 | 1.72 | -16.20 | 1.84 | 4.16 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 28 years · Updated daily
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Quick answers to the most common questions about buying NESR stock.
National Energy Services Reunited Corp.'s current P/E is 47.2x. The average P/E over the last 4 quarters is 24.6x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
National Energy Services Reunited Corp.'s current operating margin is 7.4%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking National Energy Services Reunited Corp.'s business trajectory between earnings reports.