NOV Inc (NYSE: NOV) is an oilfield equipment and technology company that designs, manufactures, and sells equipment and provides services for oil and gas drilling, completion, and production operations. It makes money through two segments, Energy Equipment and Energy Products and Services, selling capital equipment, aftermarket parts, and field services to operators and contractors globally. As a large original equipment manufacturer for oil and gas operations, NOV holds a substantial installed base of equipment and benefits from customer preference for OEM aftermarket support, which creates recurring revenue through long-term service agreements, spare parts supply, and condition monitoring. The company serves major-diversified, national, and independent oil and gas companies, drilling contractors, and service companies across 57 countries, per its 10-K filed February 12, 2026. NOV's product portfolio spans drilling systems, completion equipment, and production hardware, with a stated focus on digital, automation, and robotics solutions. The company has also applied its engineering base to alternative energy applications.

Revenue model

Equipment sales (capital goods), aftermarket parts and OEM service contracts, and field services across two segments: Energy Equipment and Energy Products and Services. Long-term service agreements with analytics and condition monitoring generate recurring aftermarket revenue from the installed equipment base.

Products and services

Drilling equipment, completion equipment, production equipment, aftermarket parts, OEM service and maintenance contracts, condition monitoring and advanced analytics, digital and automation solutions, robotics, and alternative energy technology applications.

Customers and end markets

Major-diversified oil companies, national oil companies, independent oil and gas producers, drilling contractors, and oilfield service companies. End markets include onshore unconventional drilling, deepwater and frontier oil and gas, and alternative energy. Customers operate in 57 countries as of the 10-K filed February 12, 2026.

Value-chain role

Original equipment manufacturer and aftermarket service provider sitting upstream of drilling and production operations. Supplies hardware, consumables, and technology that enable oil and gas operators and service contractors to drill, complete, and produce wells.

Geographic exposure

Global operations serving customers in 57 countries, per 10-K filed February 12, 2026. Specific regional revenue breakdown not supported by the provided filing excerpts.

Source: SEC 10-K, filed 2026-02-12

Industry: Oil & Gas Field Machinery & Equipment Peers: ChampionX Corp Baker Hughes Co Cactus Inc Halliburton Co NEXTIER OILFIELD SOLUTIONS INC. Liberty Energy Inc ProFrac Holding Corp SLB NV Weatherford International PLC