NOV Inc.
nov.comWhat Do They Do?
Sells drilling, well-completion and production equipment and technology to oilfield service companies, energy producers, contractors and shipyards.
10-K for FY2025, filed Feb 12, 2026NOV serves major-diversified, national, and independent service companies, contractors, and energy producers in 57 countries. NOV operates…View ↗
Energy Products and Services provides the critical tools, equipment, and services to safely maximize efficiency, reliability, and economics…View ↗
Energy Equipment designs, builds, and supports capital equipment and integrated systems used in oil and gas exploration and production…View ↗
The Company’s customers are predominantly service companies, oil and gas companies, and shipyards. Products within Energy Products and…View ↗
How Do They Make Money?
Most money comes from selling equipment, parts and other products, usually in one-time sales. Custom equipment projects and service or repair work earn money as NOV works; the company also rents equipment.
10-K for FY2025, filed Feb 12, 2026Energy Products and Services provides the critical tools, equipment, and services to safely maximize efficiency, reliability, and economics…View ↗
Revenue RecognitionView ↗
Revenue is recognized over-time for certain long-term construction contracts in the Energy Equipment segment. These contracts include…View ↗
For service and repair contracts, revenue is recognized over time. We generally use the output method to measure progress on service…View ↗
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10-K for FY2025, filed Feb 12, 2026
FY2025 revenue by product or service ↗
$8.7B
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10-K for FY2025, filed Feb 12, 2026
$8.7B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Sales
Sold outright
10-K for FY2025, filed Feb 12, 2026 |
67%
FY2022: 67%
|
Sales, FY2025
$5.8B Sources
|
Sold outright |
|
Service
Recurring
10-K for FY2025, filed Feb 12, 2026 |
22%
FY2022: 20%
|
Service, FY2025
$2B Sources
|
Recurring |
|
Rental
|
11%
FY2022: 12%
|
Rental, FY2025
$963M Sources
|
Who Are Their Customers?
NOV mainly serves oilfield service companies, oil and gas companies, and shipyards. Products and rentals are sold through its sales force and commissioned representatives; many capital-equipment and spare-parts sales are direct or through distribution service centers.
10-K for FY2025, filed Feb 12, 2026The Company’s customers are predominantly service companies, oil and gas companies, and shipyards. Products within Energy Products and…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 2 cents of every revenue dollar as net income in FY2025 and turned 10 cents into free cash flow.
10-K for FY2025, filed Feb 12, 2026
$494MView ↗
10-K for FY2025, filed Feb 12, 2026
$145MView ↗
10-K for FY2025, filed Feb 12, 2026
$876MView ↗
How Are They Changing?
-
Jul 29, 2026
Set third-quarter revenue and adjusted EBITDA guidance
Management expects year-over-year revenue to be flat to up 2% and adjusted EBITDA of $240 million to $270 million.
Sources
8-K, filed Jul 29, 2026
For the third quarter of 2026, management expects year-over-year consolidated revenues to be flat to up 2 percent, with Adjusted EBITDA…View ↗
Growing. Revenue grew 58% in 4 years, from $5.5B in FY2021 to $8.7B in FY2025, about 12% a year.
Advanced nuclear support
The newer business overview adds support for advanced nuclear deployment, using manufacturing, engineering, project-management and supply-chain capabilities; the older overview highlighted wind, geothermal and carbon capture.
10-K for FY2022, filed Feb 14, 2023 10-K for FY2025, filed Feb 12, 2026NOV’s engineering expertise, complex global supply chain management, low-cost manufacturing, and large-scale energy infrastructure…View ↗
NOV is positioned to support the advanced nuclear market by applying its manufacturing, engineering, project management, and supply chain…View ↗
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