NOV's revenue has plateaued near $2.1B to $2.3B across the last ten quarters, and gross margin has compressed from 26.6% in Q2 2024 to 19.7% in Q3 2026, suggesting limited operating leverage despite a recovering industry backdrop.
Price trend, volume and key moving averages
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Revenue has held roughly flat near $2.1B to $2.3B while gross margin slid from 26.6% to 19.7% and operating margin ranged from 2.3% to 9.0%, with SG&A steady near $300M per quarter limiting profit conversion.
NOV is a worldwide provider of equipment and components used in oil and gas drilling and production operations, serving the upstream oil and gas industry with safety, efficiency, and reliability.
A bull case for NOV includes a faster-than-expected rig replacement cycle, which could drive revenue growth above 10%.
NOV operates through multiple segments, including Energy Products and Services, and Energy Equipment, providing diversified exposure to the energy sector.
Trailing total returns as of 11/8/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Check whether operating performance supports the current valuation.
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q4 2026Latest Oct 27, 2026 | $0.25-1.8% vs $0.25 | $2.2B+1.3% vs $2.2B |
Q3 2026 Jul 28, 2026 | $0.31+86.3% vs $0.17 | $2.1B+2.4% vs $2.1B |
Q2 2026 Apr 27, 2026 | $0.05-70.6% vs $0.17 | $2.1B-0.1% vs $2.1B |
Q1 2026 Feb 4, 2026 | $0.21-16.0% vs $0.25 | $2.3B+5.0% vs $2.2B |
NOV expects FPSO equipment demand to strengthen in 2027-28 as offshore project sanctioning accelerates, deeper-water developments expand and procurement opportunities grow.
NOV's Q3 2026 earnings beat estimates as operational efficiencies boosted profits, Energy Products and Services revenues grew, and margins expanded.
NOV NYSE: NOV reported third-quarter 2026 revenue of $2.23 billion, up 4% sequentially and 2% from a year earlier, as both operating segments improved margins. Net income was $90 million, or $0.25 per diluted share, while adjusted EBITDA totaled $281 million, equal to 12.6% of sales.
NOV Inc. ( NOV ) Q3 2026 Earnings Call October 28, 2026 11:00 AM EDT Company Participants Amie D'Ambrosio - Director of Investor Relations Jose Bayardo - President, CEO & Chairman Rodney Reed - Senior VP & CFO Conference Call Participants Arun Jayaram - JPMorgan Chase & Co, Research Division James Rollyson - Raymond James & Associates, Inc., Research Division Marc Bianchi - TD Cowen, Research Division Alexis Bruneau Stephen Gengaro - Stifel, Nicolaus & Company, Incorporated, Research Division Presentation Operator Good day, and thank you for standing by. Welcome to the Third Quarter 2026 NOV Inc.'s Earnings Conference Call.
Benchmark NOV against direct peers instead of judging its metrics in isolation.
Key metrics vs top competitors for NOV Inc. (NOV)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $17.56 | $6.26B | 43.90 | -1.42% | 1.66% | 2.29% | 2.89% | |
| $47.87 | $47.52B | 16.48 | -0.34% | 10.09% | 14.65% | 1.91% | |
| $31.84 | $26.6B | 13.24 | -3.31% | 8.9% | 18.36% | 2.16% | |
| $49.92 | $74.63B | 24.32 | -1.6% | 8.33% | 11.27% | 2.16% | |
| $11.96 | $1.95B | 48.42 | -7.16% | 0.91% | 2.04% | 2.74% | |
| $63.52 | $25.33B | 19.69 | 9.37% | 12.04% | 38.36% | 0.31% |
NOV Inc. (NOV) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Verify the primary filings, follow material updates, and answer the remaining questions.
NOV Inc. (NOV) SEC filings — annual & quarterly reports (10-K, 10-Q)
Oct 28, 2026·SEC
Jul 29, 2026·SEC
May 22, 2026·SEC
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NOV Inc. (NOV) stock FAQ — growth, dividends, profitability & financials explained
NOV Inc. (NOV) reported $8.69B in revenue over the trailing twelve months. Revenue was $8.74B in fiscal year 2025. That is 1048% more than the $761.8M of fiscal year 1996.
NOV Inc. (NOV) revenue fell by 1.0% over the trailing twelve months, compared with the twelve months before.
Yes. NOV Inc. (NOV) earned $144.0M in net income over the trailing twelve months (a 1.7% net margin).
Yes. NOV Inc. (NOV) pays a dividend that yields 2.89% at the current price, a moderate yield.
NOV Inc. (NOV) had a return on equity (ROE) of 2.3% over the trailing twelve months. That is below the market's typical 10-15%.
NOV Inc. (NOV) generated $270.0M in free cash flow over the trailing twelve months.
