# NOV Inc. (NOV)

> Source: Nexqual · https://nexqual.com/NOV · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, NOV Inc. (NOV), nexqual.com/NOV" · informational, not investment advice.

**Price:** USD 18.76 (-2.65% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 19.27 · day 18.24–19.3 · 52w 13.61–21.93 · market cap $6.69B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $8.64B, net income $95.0M (1.1% margin), free cash flow $562M (SEC filings).
- Valuation: P/E 70.4x (avg 19.2x at the last 3 fiscal year-ends), EV/EBITDA 9.0x, net debt $542M.
- 4 of 80 tracked superinvestors hold NOV (13F, Q2 2026): 0 new, 1 added, 3 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 1 Form 4 filings, $184K; 1 not under a Rule 10b5-1 plan ($184K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Hold (mean 2.70 on a 1–5 scale) (20 analysts), mean target USD 22.08 (range 17–26).
- Total return with dividends: 1Y +36.3% vs S&P 500 +14.9%; 5Y +39.1% vs S&P 500 +80.3%.
- Next earnings: 2026-10-27, EPS estimate USD 0.25, revenue estimate $2.19B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $5.52B | $7.24B | $8.58B | $8.87B | $8.74B | $8.64B |
| Gross profit | $774M | $1.33B | $1.83B | $2.01B | $1.77B | — |
| Operating income | -$134M | $264M | $651M | $876M | $494M | $439M |
| Net income | -$250M | $155M | $993M | $635M | $145M | $95.0M |
| EPS (diluted) | -$0.65 | $0.39 | $2.50 | $1.60 | $0.39 | — |
| Free cash flow | $90.0M | -$393M | -$140M | $953M | $876M | $562M |
| Gross margin | 14.0% | 18.4% | 21.4% | 22.7% | 20.2% | — |
| Operating margin | -2.4% | 3.6% | 7.6% | 9.9% | 5.6% | 5.1% |
| Net margin | -4.5% | 2.1% | 11.6% | 7.2% | 1.7% | 1.1% |
| Revenue growth | -9.3% | +31.0% | +18.6% | +3.3% | -1.4% | — |
| Cash + short-term investments | $1.59B | $1.07B | $816M | $1.23B | $1.55B | — |
| Total debt | $1.71B | $1.73B | $1.73B | $1.74B | $1.72B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 70.4x · P/S 0.8x · EV/EBITDA 9.0x · EV/Sales 0.8x · P/FCF 11.9x · P/B 1.1x · FCF yield 8.40% · Earnings yield 1.42% · Dividend yield (paid, TTM) 2.27% · Buyback yield (TTM) 4.41% · Net debt $542M · EV $7.23B
P/E at fiscal year-ends: Dec 2025 40.4x, Dec 2024 9.1x, Dec 2023 8.1x.

## Superinvestors (SEC 13F-HR, Q2 2026)
4 of 80 tracked investors hold NOV. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Richard Pzena | Pzena Investment Management | 1.98% | $675M | Reduced -3.1% |
| First Pacific Advisors |  | 1.49% | $119M | Added +1.1% |
| Greenhaven Associates |  | 1.20% | $104M | Reduced -2.3% |
| First Eagle Investment | First Eagle Investment Management | 0.95% | $569M | Reduced -15.7% |

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 1 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-07-31 | Harrison David D | Director | 9,594 | $184K | 7% | No | Too little history (no open-market trades in 2023 or 2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Hold (mean 2.70 on a 1–5 scale), 20 analysts; mean target USD 22.08 (low 17, high 26).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-30 | Citigroup | Target lowered | Neutral | $22 → $21 |
| 2026-07-31 | Barclays | Target lowered | Underweight | $21 → $20 |
| 2026-07-30 | Susquehanna | Target raised | Positive | $22 → $24 |
| 2026-07-30 | TD Cowen | Target raised | Buy | $25 → $26 |
| 2026-07-08 | Susquehanna | Target lowered | Positive | $24 → $22 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +36.3% | +39.1% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +36.4% | +6.8% |
| Volatility (annualized) | 35.5% | 42.8% |
| Max drawdown | -16.7% (Jun 2026→Jul 2026) | -49.1% (Feb 2023→Apr 2025) |

## Peers (Oil & Gas Equipment & Services)
SEI (Solaris Energy Infrastructure, ) USD 58.61 -15.51% · WFRD (Weatherford International plc) USD 81.18 -5.04% · AROC (Archrock, Inc.) USD 28.39 -4.64% · KGS (Kodiak Gas Services, Inc.) USD 44.07 -10.10% · WHD (Cactus, Inc. Class A Common Sto) USD 60.38 -5.91% · TDW (Tidewater Inc.) USD 79.61 -2.10%

## More
Full page: https://nexqual.com/NOV · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| Energy Equipments | $1.22B | 57.1% | +0.9% | $177.0M | 14.5% |
| Energy Products & Services | $974.0M | 45.6% | -5.0% | $85.0M | 8.7% |
| Total revenue | $2.13B | 100% | — | $193.0M | 9.0% |
The lines above cover 102.7% of total revenue.

## Revenue by region (fiscal year ended 2025-12-31)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Other Countries | $3.94B | 45.1% | -13.4% |
| United States | $3.00B | 34.3% | +0.5% |
| Norway | $907.0M | 10.4% | +27.0% |
| Brazil | $896.0M | 10.2% | +45.0% |
| Total revenue | $8.74B | 100% | — |

## Company outlook (8-K filed 2026-07-29)

- "For the third quarter of 2026, management expects year-over-year consolidated revenues to be flat to up 2 percent, with Adjusted EBITDA expected to be between $240 million and $270 million."

Analysts expect $2.19B for the current quarter, +759.9% vs the guidance midpoint $255.0M. Source: https://www.sec.gov/Archives/edgar/data/1021860/000119312526322315/nov-ex99_1.htm

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.25 | $0.25 | +1.1% | $2.19B | 13 |
| Next quarter (ends 2026-12-31) | $0.29 | $0.32 | -9.8% | $2.28B | 13 |
| Current fiscal year (ends 2026-12-31) | $0.89 | $0.80 | +11.8% | $8.66B | 14 |
| Next fiscal year (ends 2027-12-31) | $1.25 | $1.27 | -1.5% | $9.09B | 14 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-10-27): ±9.7%; last 8 reports averaged ±4.6%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 42.7% | ±9.7% |
| 2026-12-18 | 56 | 53.0% | ±16.8% |
| 2027-01-15 | 84 | 39.2% | ±15.2% |
| 2027-02-19 | 119 | 32.9% | ±15.3% |
| 2027-05-21 | 210 | 38.8% | ±23.6% |
| 2027-08-20 | 301 | 45.8% | ±32.4% |
| 2027-11-19 | 392 | 44.0% | ±35.0% |