NOV Inc.NOVEarnings & Financial Report
NOV Inc., formerly National Oilwell Varco, is an American multinational corporation based in Houston, Texas. It is a worldwide provider of equipment and components used in oil and gas drilling and production operations, oilfield services, and supply chain integration services to the upstream oil and gas industry. The company conducts operations in more than 500 locations across six continents, operating through two reporting segments: Energy Equipment and Energy Products and Services.
Revenue
$2.2B
Gross Profit
$412.0M
Operating Profit
$107.0M
Net Profit
$42.0M
Gross Margin
18.9%
Operating Margin
4.9%
Net Margin
1.9%
YoY Growth
-0.7%
EPS
$0.11
Financial Flow
NOV Inc. Q3 2025 Financial Summary
NOV Inc. reported revenue of $2.2B (down 0.7% YoY) for Q3 2025, with a net profit of $42.0M (down 67.7% YoY) (1.9% margin). Cost of goods sold was $1.8B, operating expenses totaled $305.0M.
Key Financial Metrics
| Total Revenue | $2.2B |
|---|---|
| Net Profit | $42.0M |
| Gross Margin | 18.9% |
| Operating Margin | 4.9% |
| Report Period | Q3 2025 |
Revenue Breakdown
NOV Inc. Q3 2025 revenue of $2.2B breaks down across 6 segments, led by Energy Equipments at $1.2B (56.5% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Energy Equipments | $1.2B | 56.5% |
| Aftermarket | $453.0M | 20.8% |
| Capital Equipment | $293.0M | 13.5% |
| Product Sales | $168.0M | 7.7% |
| Intersegment Revenue | $25.0M | 1.1% |
| Royalty | $19.0M | 0.9% |
NOV Inc. Revenue by Segment — Quarterly Trend
NOV Inc. revenue by segment across the last 4 reported quarters, showing how each business line (such as Energy Equipments and Aftermarket) has evolved quarter over quarter.
| Segment | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|
| Energy Equipments | — | $1.2B | $1.2B | $1.1B |
| Aftermarket | $483.0M | $453.0M | $457.0M | — |
| Capital Equipment | $319.0M | $293.0M | $335.0M | $288.0M |
| Product Sales | $168.0M | $168.0M | $162.0M | $176.0M |
| Intersegment Revenue | $33.0M | $25.0M | $27.0M | — |
NOV Inc. Annual Revenue by Year
NOV Inc. annual revenue history includes year-by-year totals (for example, 2025 revenue was $8.7B).
| Year | Annual Revenue |
|---|---|
| 2025 | $8.7B |
| 2024 | $8.9B |
| 2023 | $8.6B |
| 2022 | $7.2B |
NOV Inc. Quarterly Revenue & Net Profit History
NOV Inc. results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 2025 | $2.3B | -1.3% | $-78.0M | -3.4% |
| Q3 2025 | $2.2B | -0.7% | $42.0M | 1.9% |
| Q2 2025 | $2.2B | -1.3% | $108.0M | 4.9% |
| Q1 2025 | $2.1B | -2.4% | $73.0M | 3.5% |
| Q4 2024 | $2.3B | -1.5% | $160.0M | 6.9% |
| Q3 2024 | $2.2B | +0.3% | $130.0M | 5.9% |
| Q2 2024 | $2.2B | +5.9% | $226.0M | 10.2% |
| Q1 2024 | $2.2B | +9.8% | $119.0M | 5.5% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.15B | $2.22B | $2.19B | $2.31B | $2.10B | $2.19B | $2.18B | $2.28B |
| YoY Growth | 9.8% | 5.9% | 0.3% | -1.5% | -2.4% | -1.3% | -0.7% | -1.3% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $11.30B | $11.30B | $11.42B | $11.36B | $11.27B | $11.36B | $11.34B | $11.29B |
| Liabilities | $4.98B | $4.87B | $4.91B | $4.93B | $4.78B | $4.80B | $4.83B | $4.97B |
| Equity | $6.25B | $6.38B | $6.46B | $6.38B | $6.44B | $6.50B | $6.46B | $6.27B |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $-78.0M | $432.0M | $359.0M | $591.0M | $135.0M | $191.0M | $352.0M | $573.0M |