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Side-by-side financial comparison of National Energy Services Reunited Corp. (NESR) and SSR MINING INC. (SSRM). Click either name above to swap in a different company.
SSR MINING INC. is the larger business by last-quarter revenue ($521.7M vs $295.3M, roughly 1.8× National Energy Services Reunited Corp.). SSR MINING INC. runs the higher net margin — 34.8% vs 6.0%, a 28.8% gap on every dollar of revenue. On growth, SSR MINING INC. posted the faster year-over-year revenue change (61.4% vs -12.2%). SSR MINING INC. produced more free cash flow last quarter ($106.4M vs $-34.1M).
National Energy Services Reunited Corp. is a leading integrated oilfield services provider offering a full suite of solutions covering well construction, completion, production, and intervention services for upstream oil and gas operators. Its core markets cover the Middle East, North Africa, and East Asia, serving both national oil companies and international energy clients.
SSR Mining Inc., formerly Silver Standard Resources is a Denver-based gold, silver, copper, lead and zinc producer that owns the largest silver mine in Argentina. In addition it engages in exploration activity throughout the Americas and Turkey. In 2020, SSR Mining merged with Alacer Gold. Since the merger, the company has moved headquarters to Denver, Colorado. Rodney P. Antal is now the president and CEO of SSR mining. In February 2021, SSR Mining announced that Alison White would be the ne...
NESR vs SSRM — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $295.3M | $521.7M |
| Net Profit | $17.7M | $181.5M |
| Gross Margin | 12.0% | — |
| Operating Margin | 6.6% | 38.8% |
| Net Margin | 6.0% | 34.8% |
| Revenue YoY | -12.2% | 61.4% |
| Net Profit YoY | -14.0% | 3166.6% |
| EPS (diluted) | $0.18 | $0.84 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | — | $521.7M | ||
| Q3 25 | $295.3M | $385.8M | ||
| Q2 25 | $327.4M | $405.5M | ||
| Q1 25 | $303.1M | $316.6M | ||
| Q4 24 | — | $323.2M | ||
| Q3 24 | $336.2M | $257.4M | ||
| Q2 24 | $325.0M | $184.8M | ||
| Q1 24 | — | $230.2M |
| Q4 25 | — | $181.5M | ||
| Q3 25 | $17.7M | $65.4M | ||
| Q2 25 | $15.2M | $90.1M | ||
| Q1 25 | $10.4M | $58.8M | ||
| Q4 24 | — | $5.6M | ||
| Q3 24 | $20.6M | $10.6M | ||
| Q2 24 | $18.9M | $9.7M | ||
| Q1 24 | — | $-287.1M |
| Q4 25 | — | — | ||
| Q3 25 | 12.0% | — | ||
| Q2 25 | 13.4% | — | ||
| Q1 25 | 12.4% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 15.9% | — | ||
| Q2 24 | 16.4% | — | ||
| Q1 24 | — | — |
| Q4 25 | — | 38.8% | ||
| Q3 25 | 6.6% | 21.6% | ||
| Q2 25 | 8.3% | 26.9% | ||
| Q1 25 | 6.9% | 21.1% | ||
| Q4 24 | — | 10.6% | ||
| Q3 24 | 10.5% | 3.5% | ||
| Q2 24 | 10.5% | 5.8% | ||
| Q1 24 | — | -163.5% |
| Q4 25 | — | 34.8% | ||
| Q3 25 | 6.0% | 17.0% | ||
| Q2 25 | 4.6% | 22.2% | ||
| Q1 25 | 3.4% | 18.6% | ||
| Q4 24 | — | 1.7% | ||
| Q3 24 | 6.1% | 4.1% | ||
| Q2 24 | 5.8% | 5.2% | ||
| Q1 24 | — | -124.7% |
| Q4 25 | — | $0.84 | ||
| Q3 25 | $0.18 | $0.31 | ||
| Q2 25 | $0.16 | $0.42 | ||
| Q1 25 | $0.11 | $0.28 | ||
| Q4 24 | — | $0.03 | ||
| Q3 24 | $0.22 | $0.05 | ||
| Q2 24 | $0.20 | $0.05 | ||
| Q1 24 | — | $-1.42 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $69.7M | $575.6M |
| Total DebtLower is stronger | $274.1M | — |
| Stockholders' EquityBook value | $956.7M | $3.5B |
| Total Assets | $1.8B | $6.1B |
| Debt / EquityLower = less leverage | 0.29× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $575.6M | ||
| Q3 25 | $69.7M | $445.4M | ||
| Q2 25 | $131.8M | $438.5M | ||
| Q1 25 | $78.7M | $341.3M | ||
| Q4 24 | — | $417.3M | ||
| Q3 24 | $118.2M | $365.8M | ||
| Q2 24 | $75.0M | $384.4M | ||
| Q1 24 | — | $492.0M |
| Q4 25 | — | — | ||
| Q3 25 | $274.1M | — | ||
| Q2 25 | $291.7M | — | ||
| Q1 25 | $309.2M | — | ||
| Q4 24 | — | $228.6M | ||
| Q3 24 | $358.7M | $228.3M | ||
| Q2 24 | $376.7M | $228.0M | ||
| Q1 24 | — | $228.7M |
| Q4 25 | — | $3.5B | ||
| Q3 25 | $956.7M | $3.3B | ||
| Q2 25 | $936.9M | $3.3B | ||
| Q1 25 | $920.5M | $3.2B | ||
| Q4 24 | — | $3.1B | ||
| Q3 24 | $873.5M | $3.1B | ||
| Q2 24 | $851.4M | $3.1B | ||
| Q1 24 | — | $3.1B |
| Q4 25 | — | $6.1B | ||
| Q3 25 | $1.8B | $5.9B | ||
| Q2 25 | $1.8B | $5.8B | ||
| Q1 25 | $1.8B | $5.6B | ||
| Q4 24 | — | $5.2B | ||
| Q3 24 | $1.8B | $5.1B | ||
| Q2 24 | $1.8B | $5.2B | ||
| Q1 24 | — | $5.3B |
| Q4 25 | — | — | ||
| Q3 25 | 0.29× | — | ||
| Q2 25 | 0.31× | — | ||
| Q1 25 | 0.34× | — | ||
| Q4 24 | — | 0.07× | ||
| Q3 24 | 0.41× | 0.07× | ||
| Q2 24 | 0.44× | 0.07× | ||
| Q1 24 | — | 0.07× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $6.7M | $172.1M |
| Free Cash FlowOCF − Capex | $-34.1M | $106.4M |
| FCF MarginFCF / Revenue | -11.5% | 20.4% |
| Capex IntensityCapex / Revenue | 13.8% | 12.6% |
| Cash ConversionOCF / Net Profit | 0.38× | 0.95× |
| TTM Free Cash FlowTrailing 4 quarters | $68.5M | $241.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $172.1M | ||
| Q3 25 | $6.7M | $57.2M | ||
| Q2 25 | $98.5M | $157.8M | ||
| Q1 25 | $20.5M | $84.8M | ||
| Q4 24 | — | $95.0M | ||
| Q3 24 | $70.8M | $-1.3M | ||
| Q2 24 | — | $-78.1M | ||
| Q1 24 | — | $24.6M |
| Q4 25 | — | $106.4M | ||
| Q3 25 | $-34.1M | $-2.4M | ||
| Q2 25 | $68.7M | $98.4M | ||
| Q1 25 | $-9.6M | $39.3M | ||
| Q4 24 | — | $56.4M | ||
| Q3 24 | $43.4M | $-34.1M | ||
| Q2 24 | — | $-116.3M | ||
| Q1 24 | — | $-9.4M |
| Q4 25 | — | 20.4% | ||
| Q3 25 | -11.5% | -0.6% | ||
| Q2 25 | 21.0% | 24.3% | ||
| Q1 25 | -3.2% | 12.4% | ||
| Q4 24 | — | 17.5% | ||
| Q3 24 | 12.9% | -13.2% | ||
| Q2 24 | — | -62.9% | ||
| Q1 24 | — | -4.1% |
| Q4 25 | — | 12.6% | ||
| Q3 25 | 13.8% | 15.4% | ||
| Q2 25 | 9.1% | 14.7% | ||
| Q1 25 | 9.9% | 14.4% | ||
| Q4 24 | — | 11.9% | ||
| Q3 24 | 8.1% | 12.7% | ||
| Q2 24 | — | 20.7% | ||
| Q1 24 | — | 14.8% |
| Q4 25 | — | 0.95× | ||
| Q3 25 | 0.38× | 0.87× | ||
| Q2 25 | 6.48× | 1.75× | ||
| Q1 25 | 1.97× | 1.44× | ||
| Q4 24 | — | 17.10× | ||
| Q3 24 | 3.43× | -0.13× | ||
| Q2 24 | — | -8.06× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NESR
| Production Services | $174.4M | 59% |
| Drilling And Evaluation Services | $120.9M | 41% |
SSRM
| Gold | $369.3M | 71% |
| Concentrate Sales | $124.4M | 24% |
| Other | $19.1M | 4% |
| Lead | $9.0M | 2% |
