National Energy Services Reunit (NESR) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

National Energy Services Reunit

NasdaqCM•Energy•Oil & Gas Equipment & Services

$31.49-0.60(-0.02%)Pre-market

Market Cap

$3.29B

P/E

28.1x

P/S

1.5x

P/B

3.2x

National Energy Services Reunited Corp. provides oilfield services in the Middle East and North Africa. The company's Production Services segment offers hydraulic fracturing services; coiled tubing services, including nitrogen lifting, fishing, milling, clean-out, scale removal, and other well applications; stimulation and pumping services; primary and remedial cementing services; nitrogen services; filtration services, as well as frac tanks and pumping units; and pipeline and industrial services, such as water filling and hydro testing, nitrogen purging, and de-gassing and pressure testing, as well as cutting/welding and cooling down piping/vessels systems. This segment also provides production assurance chemicals; integrated production management projects; artificial lift services; and surface and subsurface safety systems, high-pressure packer systems, flow controls, service tools, expandable liner technology, vacuum insulated tubing technology for steam applications, and engineering capabilities with manufacturing capacity and testing facilities, as well as sources and treats water for oil and gas, municipal, and industrial use. The Drilling and Evaluation Services segment offers drilling and workover rigs; rigs and integrated services; fishing and remediation solutions; directional and turbines drilling; drilling fluid systems and related technologies; wireline logging; slickline services, descaling, wax and sand cleanout, plug setting, gas lift valve changeout, fishing and other complex well applications; and well testing services to measure solids, gas, and oil and water produced from well, as well as drilling tools and machine shop services. This segment also provides oilfield solutions for thru-tubing intervention; tubular running services; and a range of wellhead products, flow control equipment, and frac equipment. National Energy Services Reunited Corp. was incorporated in 2017 and is headquartered in Houston, Texas.

How this company scores

GoodMetricSide Score: 64.5/100

Strongest: Balance Sheet & Red Flags (19/25); weakest: Cash & Earnings Quality (13/25).

Profitability16/25

Growth16.5/25

Balance Sheet & Red Flags19/25

Cash & Earnings Quality13/25

Strengths

Rising earningsLow leverageNet cash positionImproving margins

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 28.1x5y range 28.1x – 33.4x

P/S · 1.5x5y range 1.2x – 1.5x

P/B · 3.2x5y range 1.6x – 3.2x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 6 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $3.29B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $2.25B
Q. Revenue: $520.75M
TTM EBITDA: $408.25M
TTM Op. Income: $196.64M
Q. Op. Income: $64.84M
TTM Net Income: $117.12M
Q. Net Income: $44.02M
EPS: $0.44
Shares Out.: $100.85M

$2.25B in TTM revenue grew from zero YoY, reaching $520.75M last quarter. TTM EBITDA of $408.25M and TTM operating income of $196.64M show growth is flowing through to the bottom line. TTM net income of $117.12M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 3 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 15.6%
EBITDA Margin: 19.4%
Op. Margin: 12.5%
Net Margin: 8.5%

Op. margin of 12.5% is up 366406312.5% YoY — cost efficiency is improving. Net margin at 8.5% and gross margin of 15.6% show how much of each revenue dollar survives to profit. Across the last 8 quarters, operating margin has risen for 4 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 28.1x
P/S Ratio: 1.5x
P/B Ratio: 3.2x

At 28.1x P/E, the stock trades within typical market levels. P/S of 1.5x and P/B of 3.2x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Across the last 3 quarters, P/E has fallen for 2 consecutive quarters — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $2.10B
Cash: $174.99M
Long-Term Debt: $159.71M
Book Value: $1.04B
D/E Ratio: 0.2
Debt/EBITDA: 1.6

With $2.10B in assets and $159.71M in long-term debt, D/E is 0.2and book value is $1.04B — a conservative capital structure with a cushion to weather downturns. Across the last 3 quarters, debt/equity has fallen for 2 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $174.01M
TTM Free Cash Flow: $214.82M
FCF Margin: 9.6%
FCF / Net Income: 1.8

TTM FCF of $214.82M on $174.01M in operating cash flow. The FCF / Net Income ratio of 1.8x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is up 24934% — an improving trend.