National Energy Services Reunited Corp. (NESR) Revenue History
Annual and quarterly revenue from 2017 to present
NESR Revenue Over Time (2017–2025)
NESR Revenue Growth History
7 of 7 years with positive growth- FY2017 revenue growth
- N/A
- FY2019 revenue growth
- +142.7%
- FY2020 revenue growth
- +26.7%
- FY2021 revenue growth
- +5.1%
- FY2022 revenue growth
- +3.7%
- FY2023 revenue growth
- +26.0%
- FY2024 revenue growth
- +13.6%
- FY2025 revenue growth
- +1.7%
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $404.6M | +33.5% |
| Q4 2025 | $398.3M | +15.9% |
| Q3 2025 | $295.3M | -12.2% |
| Q2 2025 | $327.4M | +0.7% |
| Q1 2025 | $303.1M | — |
| Q4 2024 | $343.7M | +11.8% |
| Q3 2024 | $336.2M | — |
| Q2 2024 | $325.0M | — |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2025)
NESR's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
NESR Revenue Analysis (2017–2025)
Current Revenue & Growth
As of June 24, 2026, National Energy Services Reunited Corp. (NESR) generated trailing twelve-month (TTM) revenue of $1.43 billion, reflecting explosive growth of +33.5% year-over-year. The most recent quarter (Q1 2026) recorded $404.6 million in revenue, up 1.6% sequentially.
Historical Growth Trajectory
NESR's 5-year compound annual growth rate (CAGR) stands at +9.7%, indicating steady revenue expansion. The 3-year CAGR of +13.3% exceeds the 5-year average, indicating an acceleration in the most recent period. National Energy Services Reunited Corp.'s highest annual revenue of $1.32 billion was recorded in 2025, an all-time high.
Revenue by Segment
NESR's revenue is primarily driven by Production Services (62%), and Drilling and Evaluation Services (38%). With over half of revenue concentrated in Production Services, the company has a focused business model while developing other growth vectors.
Peer Comparison
Compared to Energy sector peers — including PTEN (-9.4% YoY), NINE (-3.7% YoY), and KLXE (-8.9% YoY) — NESR has outperformed the peer group in revenue growth. Compare NESR vs PTEN →
NESR Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| NESRCurrent | $1.4B | +33.5% | +9.7% | 7.4% | |
 PTEN | $4.8B | -9.4% | +33.8% | -0.5% | |
 NINE | $562M | -3.7% | +12.6% | 0.1% | |
 KLXE | $637M | -8.9% | +18.1% | -4.8% | |
 OIS | $669M | -25.7% | +1.0% | -0.7% | |
 SLB | $35.7B | -0.4% | +8.6% | 15.3% |
NESR Historical Revenue Data (2017–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $1.32B | +1.7% | $146.0M | 11.0% | $98.3M | 7.4% |
| 2024 | $1.30B | +13.6% | $208.7M | 16.0% | $137.7M | 10.6% |
| 2023 | $1.15B | +26.0% | $129.9M | 11.3% | $80.7M | 7.0% |
| 2022 | $909.5M | +3.7% | $46.6M | 5.1% | $-917,000 | -0.1% |
| 2021 | $876.7M | +5.1% | $-15,261,000 | -1.7% | $-43,332,000 | -4.9% |
| 2020 | $834.2M | +26.7% | $62.1M | 7.4% | $35.3M | 4.2% |
| 2019 | $658.4M | +142.7% | $135.7M | 20.6% | $71.8M | 10.9% |
| 2017 | $271.3M | - | $71.2M | 26.2% | $39.7M | 14.6% |
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
9+ years return with dividends reinvested.
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Peer Comparison
Compare growth, multiples, and margins vs sector.
NESR — Frequently Asked Questions
Quick answers to the most common questions about buying NESR stock.
Is NESR's revenue growth accelerating or slowing?
NESR revenue growth is accelerating. TTM revenue reached $1.4B, up +33.5% year-over-year — ahead of the 5-year CAGR of +9.7%. This indicates the business is expanding faster than its historical baseline.
What is NESR's revenue history from 2017 to 2026?
National Energy Services Reunited Corp. (NESR) revenue history spans 2017 to 2026. TTM revenue as of 2026 is $1.4B, growing at +33.5% YoY. The 5-year CAGR is +9.7%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is NESR's long-term revenue growth rate (CAGR)?
National Energy Services Reunited Corp.'s 5-year revenue CAGR of +9.7% reflects the sustained nature of its business expansion. As of 2026, the current YoY growth rate of +33.5% is above this long-term average. CAGR is the most reliable measure of sustained revenue momentum for NESR.
Why does NESR's quarterly revenue fluctuate?
NESR quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. National Energy Services Reunited Corp.'s revenue data from 2017 to 2026 shows full historical quarterly detail on this page.
How is NESR's revenue distributed by segment?
NESR reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does NESR's revenue compare to industry peers?
National Energy Services Reunited Corp. (NESR) with TTM revenue of $1.4B and +33.5% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.