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.
NOV Q4 2025 Key Financial Metrics
Revenue
$2.3B
Gross Profit
$462.0M
Operating Profit
$92.0M
Net Profit
$-78.0M
Gross Margin
20.3%
Operating Margin
4.0%
Net Margin
-3.4%
YoY Growth
-1.3%
EPS
$-0.20
Financial Flow
NOV Inc. Q4 2025 Financial Summary
NOV Inc. reported revenue of $2.3B (down 1.3% YoY) for Q4 2025, with a net profit of $-78.0M (down 148.8% YoY) (-3.4% margin). Cost of goods sold was $1.8B, operating expenses totaled $370.0M.
Key Financial Metrics
| Total Revenue | $2.3B |
|---|---|
| Net Profit | $-78.0M |
| Gross Margin | 20.3% |
| Operating Margin | 4.0% |
| Report Period | Q4 2025 |
Revenue Breakdown
NOV Inc. Q4 2025 revenue of $2.3B breaks down across 6 segments, led by Land And Offshore at $718.0M (31.5% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Land And Offshore | $718.0M | 31.5% |
| Continental | $536.0M | 23.5% |
| Aftermarket | $483.0M | 21.2% |
| Capital Equipment | $319.0M | 14.0% |
| Product Sales | $168.0M | 7.4% |
| Intersegment Revenue | $33.0M | 1.4% |
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 Land And Offshore and Continental) has evolved quarter over quarter.
| Segment | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|
| Land And Offshore | $718.0M | — | — | — |
| Continental | $536.0M | — | — | — |
| 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 |
NOV Inc. Annual Revenue by Year
NOV Inc. annual revenue history includes year-by-year totals (for example, 2025 revenue was $8.7B). Click any linked year to see what changed vs the prior annual report.
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 |