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DNOW (DNOW) Financials

DNOW logo
$13.14 -0.19 (-1.39%)
Closing price 03:59 PM Eastern
Extended Trading
$13.24 +0.09 (+0.68%)
As of 06:22 PM Eastern
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Annual Income Statements for DNOW

Annual Income Statements for DNOW

This table shows DNOW's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -502 -234 -52 52 -97 -427 5.00 128 250 78 -89
Consolidated Net Income / (Loss)		 -502 -234 -52 52 -97 -427 5.00 129 251 79 -88
Net Income / (Loss) Continuing Operations		 -502 -234 -52 52 -97 -427 5.00 129 251 79 -88
Total Pre-Tax Income 		-518 -230 -52 58 -93 -430 12 139 142 110 -100
Total Operating Income		 -510 -222 -41 73 -83 -420 9.00 131 144 109 -93
Total Gross Profit		 502 345 501 630 586 292 357 506 539 531 478
Total Revenue		 3,010 2,107 2,648 3,127 2,951 1,619 1,632 2,136 2,321 2,373 2,820
Operating Revenue		 3,010 2,107 2,648 3,127 2,951 1,619 1,632 2,136 2,321 2,373 2,820
Total Cost of Revenue		 2,508 1,762 2,147 2,497 2,365 1,327 1,275 1,630 1,782 1,842 2,342
Operating Cost of Revenue		 2,508 1,762 2,147 2,497 2,365 1,327 1,275 1,630 1,782 1,842 2,342
Total Operating Expenses		 1,012 567 542 557 669 712 348 375 395 422 571
Selling, General & Admin Expense		 - - 542 557 541 391 341 365 395 416 559
Impairment Charge		 393 - - 0.00 128 321 7.00 10 0.00 6.00 12
Total Other Income / (Expense), net		 -8.00 -8.00 -11 -15 -10 -10 3.00 8.00 -2.00 1.00 -7.00
Other Income / (Expense), net		 -8.00 -8.00 -11 -15 -10 -10 3.00 8.00 -2.00 1.00 -7.00
Income Tax Expense		 -16 4.00 - 6.00 4.00 -3.00 7.00 10 -109 31 -12
Net Income / (Loss) Attributable to Noncontrolling Interest		 - - - - - 0.00 0.00 1.00 1.00 1.00 1.00
Basic Earnings per Share		 ($4.68) ($2.18) ($0.48) $0.47 ($0.89) ($3.91) $0.05 $1.14 $2.29 $0.72 ($0.76)
Weighted Average Basic Shares Outstanding		 107.17M 107.42M 108M 108.30M 108.78M 109.41M 110.40M 110.68M 107.40M 106.35M 117.88M
Diluted Earnings per Share		 ($4.68) ($2.18) ($0.48) $0.47 ($0.89) ($3.91) $0.05 $1.13 $2.27 $0.71 ($0.76)
Weighted Average Diluted Shares Outstanding		 107.17M 107.42M 108M 108.64M 108.78M 109.41M 110.49M 111.22M 108.42M 107.15M 117.88M
Weighted Average Basic & Diluted Shares Outstanding		 107.30M 107.30M 108.30M 110.60M 109.21M 109.95M 110.56M 110.33M 106.17M 105.69M 186.35M

Quarterly Income Statements for DNOW

This table shows DNOW's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 35 147 21 24 13 23 21 25 25 -161 -44
Consolidated Net Income / (Loss)		 35 147 21 25 13 23 22 25 25 -161 -44
Net Income / (Loss) Continuing Operations		 35 147 21 25 13 23 22 25 25 -161 -44
Total Pre-Tax Income 		37 31 29 33 22 30 29 32 32 -194 -60
Total Operating Income		 37 32 28 33 23 29 29 32 33 -188 -50
Total Gross Profit		 134 130 129 138 135 133 138 144 145 50 193
Total Revenue		 588 555 563 633 606 571 599 628 634 959 1,183
Operating Revenue		 588 555 563 633 606 571 599 628 634 959 1,183
Total Cost of Revenue		 454 425 434 495 471 438 461 484 489 909 990
Operating Cost of Revenue		 454 425 434 495 471 438 461 484 489 909 990
Total Operating Expenses		 97 98 101 105 112 104 109 112 112 238 243
Selling, General & Admin Expense		 97 98 101 105 107 103 109 112 112 226 243
Total Other Income / (Expense), net		 0.00 -1.00 1.00 0.00 -1.00 1.00 0.00 0.00 -1.00 -6.00 -10
Other Income / (Expense), net		 0.00 -1.00 1.00 0.00 -1.00 1.00 0.00 0.00 -1.00 -6.00 -10
Income Tax Expense		 2.00 -116 8.00 8.00 9.00 7.00 7.00 7.00 7.00 -33 -16
Net Income / (Loss) Attributable to Noncontrolling Interest		 0.00 - 0.00 1.00 0.00 - 1.00 0.00 0.00 - 0.00
Basic Earnings per Share		 $0.32 $1.35 $0.20 $0.21 $0.12 $0.22 $0.19 $0.24 $0.23 ($1.43) ($0.24)
Weighted Average Basic Shares Outstanding		 106.98M 107.40M 106.45M 106.87M 106.31M 106.35M 105.98M 105.46M 105.01M 117.88M 185.76M
Diluted Earnings per Share		 $0.32 $1.33 $0.19 $0.21 $0.12 $0.22 $0.19 $0.23 $0.23 ($1.42) ($0.24)
Weighted Average Diluted Shares Outstanding		 108.12M 108.42M 107.35M 107.62M 107.01M 107.15M 106.74M 106.00M 105.61M 117.88M 185.76M
Weighted Average Basic & Diluted Shares Outstanding		 106.33M 106.17M 106.80M 106.47M 105.85M 105.69M 105.57M 105.01M 105.01M 186.35M 182.55M

Annual Cash Flow Statements for DNOW

This table details how cash moves in and out of DNOW's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 -105 16 -13 27 67 204 -74 -101 87 -43 -92
Net Cash From Operating Activities		 324 235 -115 73 224 189 30 0.00 188 298 155
Net Cash From Continuing Operating Activities		 324 235 -115 73 224 189 30 0.00 188 298 155
Net Income / (Loss) Continuing Operations		 -502 -234 -52 52 -97 -427 5.00 129 251 79 -88
Consolidated Net Income / (Loss)		 -502 -234 -52 52 -97 -427 5.00 129 251 79 -88
Depreciation Expense		 38 53 50 41 41 28 23 19 26 34 52
Non-Cash Adjustments To Reconcile Net Income		 501 76 31 10 139 384 24 27 28 41 92
Changes in Operating Assets and Liabilities, net		 287 340 -144 -30 141 204 -22 -175 -117 144 99
Net Cash From Investing Activities		 -523 -183 8.00 -9.00 -22 22 -96 -87 -48 -304 -590
Net Cash From Continuing Investing Activities		 -523 -183 8.00 -9.00 -22 22 -96 -87 -48 -304 -590
Purchase of Property, Plant & Equipment		 -11 -4.00 -4.00 -11 -12 -8.00 -5.00 -9.00 -17 -9.00 -21
Acquisitions		 -515 -182 -4.00 0.00 -8.00 0.00 -96 -80 -32 -299 -574
Other Investing Activities, net		 3.00 3.00 16 2.00 -2.00 4.00 5.00 2.00 1.00 4.00 5.00
Net Cash From Financing Activities		 106 -47 94 -37 -138 -8.00 -6.00 -10 -55 -33 339
Net Cash From Continuing Financing Activities		 106 -47 94 -37 -138 -8.00 -6.00 -10 -55 -33 339
Repayment of Debt		 -329 -300 -265 -540 -400 0.00 0.00 0.00 -4.00 -6.00 -248
Repurchase of Common Equity		 - - - - - 0.00 0.00 -7.00 -50 -23 -37
Issuance of Debt		 435 253 359 503 268 0.00 0.00 0.00 0.00 0.00 643
Other Financing Activities, net		 - - - - -6.00 -8.00 -6.00 -3.00 -1.00 -4.00 -19
Effect of Exchange Rate Changes		 -12 11 - - 3.00 1.00 -2.00 -4.00 2.00 -4.00 4.00
Cash Interest Paid		 2.00 4.00 6.00 9.00 5.00 - - - 0.00 0.00 4.00
Cash Income Taxes Paid		 10 -23 2.00 6.00 7.00 2.00 0.00 11 10 6.00 3.00

Quarterly Cash Flow Statements for DNOW

This table details how cash moves in and out of DNOW's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -9.00 105 -111 9.00 64 -5.00 -37 13 34 -102 -48
Net Cash From Operating Activities		 4.00 105 81 21 74 122 -16 45 43 83 -95
Net Cash From Continuing Operating Activities		 4.00 105 81 21 74 122 -16 45 43 83 -95
Net Income / (Loss) Continuing Operations		 35 147 21 25 13 23 22 25 25 -161 -44
Consolidated Net Income / (Loss)		 35 147 21 25 13 23 22 25 25 -161 -44
Depreciation Expense		 7.00 7.00 7.00 9.00 8.00 10 11 10 11 20 23
Non-Cash Adjustments To Reconcile Net Income		 6.00 8.00 5.00 5.00 9.00 5.00 9.00 5.00 5.00 78 44
Changes in Operating Assets and Liabilities, net		 -44 -57 48 -18 44 84 -58 5.00 2.00 146 -118
Net Cash From Investing Activities		 -4.00 -1.00 -188 - -2.00 -114 -5.00 -11 -3.00 -571 -53
Net Cash From Continuing Investing Activities		 -4.00 -1.00 -188 - -2.00 -114 -5.00 -11 -3.00 -571 -53
Purchase of Property, Plant & Equipment		 -4.00 -2.00 -1.00 -3.00 -2.00 -3.00 -6.00 -4.00 -4.00 -7.00 -8.00
Acquisitions		 - 1.00 -185 - - -114 0.00 -8.00 - -566 -46
Other Investing Activities, net		 - - -2.00 3.00 - 3.00 1.00 1.00 1.00 2.00 1.00
Net Cash From Financing Activities		 -7.00 -1.00 -4.00 -11 -10 -8.00 -17 -23 -5.00 384 101
Net Cash From Continuing Financing Activities		 -7.00 -1.00 -4.00 -11 -10 -8.00 -17 -23 -5.00 384 101
Repayment of Debt		 -2.00 5.00 -3.00 -1.00 -3.00 7.00 -2.00 -4.00 -5.00 -230 -97
Repurchase of Common Equity		 -5.00 -1.00 -1.00 -10 -7.00 -5.00 -8.00 -19 - -10 -50
Issuance of Debt		 - - - - - - 0.00 - - - 253
Other Financing Activities, net		 - -5.00 - - - -10 -7.00 - - - -5.00
Effect of Exchange Rate Changes		 -2.00 2.00 0.00 -1.00 2.00 -5.00 1.00 2.00 -1.00 2.00 -1.00
Cash Interest Paid		 - - - - - - 0.00 - - - 5.00
Cash Income Taxes Paid		 - - - - - - 2.00 - - - 2.00

Annual Balance Sheets for DNOW

This table presents DNOW's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 1,832 1,603 1,749 1,795 1,591 1,008 1,104 1,320 1,529 1,621 3,924
Total Current Assets		 1,292 959 1,129 1,219 1,067 861 883 1,017 1,068 1,028 2,278
Cash & Equivalents		 90 106 98 116 183 387 313 212 299 256 164
Accounts Receivable		 485 354 423 482 370 198 304 398 384 388 874
Inventories, net		 693 483 590 602 465 262 250 381 366 352 1,192
Prepaid Expenses		 24 16 18 19 15 14 16 26 19 32 48
Plant, Property, & Equipment, net		 165 143 119 106 120 98 111 119 131 157 264
Total Noncurrent Assets		 375 501 501 470 404 49 110 184 330 436 1,382
Goodwill		 205 311 328 314 245 0.00 67 116 139 230 617
Intangible Assets		 161 184 166 144 90 0.00 9.00 25 28 65 565
Noncurrent Deferred & Refundable Income Taxes		 4.00 1.00 2.00 2.00 2.00 1.00 - 0.00 118 93 11
Other Noncurrent Operating Assets		 5.00 5.00 5.00 10 67 48 34 43 45 48 189
Total Liabilities & Shareholders' Equity		 1,832 1,603 1,749 1,795 1,591 1,008 1,104 1,320 1,529 1,621 3,924
Total Liabilities		 429 420 564 581 447 309 392 476 466 493 1,686
Total Current Liabilities		 307 347 394 441 396 272 369 439 418 442 974
Accounts Payable		 211 246 290 329 255 172 235 304 288 300 653
Accrued Expenses		 94 100 103 110 127 95 112 126 120 130 300
Other Current Liabilities		 2.00 1.00 1.00 2.00 14 5.00 22 9.00 10 12 21
Total Noncurrent Liabilities		 122 73 170 140 51 37 23 37 48 51 712
Long-Term Debt		 108 65 162 132 - - - - - 0.00 411
Noncurrent Deferred & Payable Income Tax Liabilities		 11 7.00 7.00 6.00 4.00 - 0.00 1.00 - 0.00 99
Other Noncurrent Operating Liabilities		 3.00 1.00 1.00 2.00 47 37 23 36 48 51 202
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 1,403 1,183 1,185 1,214 1,144 699 712 844 1,063 1,128 2,238
Total Preferred & Common Equity		 1,403 1,183 1,185 1,214 1,144 699 711 842 1,060 1,124 2,233
Total Common Equity		 1,403 1,183 1,185 1,214 1,144 699 711 842 1,060 1,124 2,233
Common Stock		 1,981 2,003 2,020 2,035 2,047 2,052 2,061 2,067 2,033 2,024 3,195
Retained Earnings		 -444 -678 -730 -678 -775 -1,208 -1,203 -1,075 -828 -747 -836
Accumulated Other Comprehensive Income / (Loss)		 -134 -142 -105 -143 -128 -145 -147 -150 -145 -153 -126
Noncontrolling Interest		 - - - - - - 1.00 2.00 3.00 4.00 5.00

Quarterly Balance Sheets for DNOW

This table presents DNOW's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 1,282 1,329 1,420 1,376 1,594 1,563 1,587 1,651 1,661 1,660 3,927
Total Current Assets		 1,054 1,025 1,075 1,033 1,045 1,023 1,058 1,067 1,080 1,096 2,250
Cash & Equivalents		 267 168 203 194 188 197 261 219 232 266 116
Accounts Receivable		 406 422 417 396 410 403 405 439 440 429 889
Inventories, net		 361 406 424 415 428 399 364 385 383 377 1,193
Prepaid Expenses		 20 29 31 28 19 24 28 24 25 24 52
Plant, Property, & Equipment, net		 109 121 130 130 137 139 138 155 153 149 261
Total Noncurrent Assets		 119 183 215 213 412 401 391 429 428 415 1,416
Goodwill		 79 119 141 140 192 192 192 230 235 235 652
Intangible Assets		 13 23 31 29 59 57 55 63 62 60 563
Noncurrent Deferred & Refundable Income Taxes		 - - - - 112 105 98 88 83 76 12
Other Noncurrent Operating Assets		 27 41 43 44 49 47 46 48 48 44 189
Total Liabilities & Shareholders' Equity		 1,282 1,329 1,420 1,376 1,594 1,563 1,587 1,651 1,661 1,660 3,927
Total Liabilities		 476 485 543 469 515 464 469 507 500 475 1,784
Total Current Liabilities		 458 447 501 423 462 412 417 460 455 435 929
Accounts Payable		 339 323 364 301 339 278 278 329 318 305 662
Accrued Expenses		 111 118 129 114 112 123 127 119 125 118 254
Other Current Liabilities		 8.00 6.00 8.00 8.00 11 11 12 12 12 12 13
Total Noncurrent Liabilities		 18 38 42 46 53 52 52 47 45 40 855
Long-Term Debt		 - - - - - - - - - - 571
Noncurrent Deferred & Payable Income Tax Liabilities		 - 1.00 1.00 1.00 0.00 0.00 0.00 - - - 95
Other Noncurrent Operating Liabilities		 18 37 41 45 53 52 52 47 45 40 189
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 806 844 877 907 1,079 1,099 1,118 1,144 1,161 1,185 2,143
Total Preferred & Common Equity		 804 841 874 904 1,076 1,095 1,114 1,139 1,156 1,182 2,138
Total Common Equity		 804 841 874 904 1,076 1,095 1,114 1,139 1,156 1,182 2,138
Common Stock		 2,066 2,037 2,030 2,029 2,032 2,029 2,025 2,017 1,998 2,002 3,144
Retained Earnings		 -1,107 -1,044 -1,010 -975 -807 -783 -770 -725 -700 -675 -880
Accumulated Other Comprehensive Income / (Loss)		 -155 -149 -146 -150 -149 -151 -141 -150 -142 -145 -126
Noncontrolling Interest		 2.00 3.00 3.00 3.00 3.00 4.00 4.00 5.00 5.00 3.00 5.00

Annual Metrics And Ratios for DNOW

This table displays calculated financial ratios and metrics derived from DNOW's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -26.67% -30.00% 25.68% 18.09% -5.63% -45.14% 0.80% 30.88% 8.66% 2.24% 18.84%
EBITDA Growth		 -341.21% 63.13% 98.87% 5,050.00% -152.53% -673.08% 108.71% 351.43% 3.80% -9.76% -133.33%
EBIT Growth		 -391.01% 55.60% 77.39% 211.54% -260.34% -362.37% 102.79% 1,058.33% -0.72% -17.39% -190.91%
NOPAT Growth		 -402.66% 56.47% 81.53% 328.04% -188.77% -406.02% 101.28% 3,142.01% 106.94% -67.69% -183.16%
Net Income Growth		 -532.76% 53.39% 77.78% 200.00% -286.54% -340.21% 101.17% 2,480.00% 92.25% -66.94% -211.39%
EPS Growth		 -541.51% 53.42% 77.98% 197.92% -289.36% -339.33% 101.28% 2,160.00% 98.23% -66.96% -207.04%
Operating Cash Flow Growth		 200.00% -27.47% -148.94% 163.48% 206.85% -15.63% -84.13% -100.00% 0.00% 58.51% -47.99%
Free Cash Flow Firm Growth		 -114.60% 1,865.71% -209.79% 162.23% 149.74% 68.33% -123.45% -33.84% 207.33% -122.34% -5,546.71%
Invested Capital Growth		 -19.76% -19.63% 9.37% -1.52% -21.87% -67.53% 27.88% 58.40% 20.89% 14.14% 184.98%
Revenue Q/Q Growth		 -10.74% -4.79% 5.20% 3.13% -4.06% -16.50% 7.44% 5.69% 0.35% 0.68% 15.95%
EBITDA Q/Q Growth		 -79.78% 42.53% 95.56% 23.75% -150.00% 17.96% 240.00% 13.67% -0.61% 1.37% -128.92%
EBIT Q/Q Growth		 -72.67% 35.93% 46.39% 56.76% -245.31% 17.94% 125.00% 15.83% -2.13% -0.87% -180.65%
NOPAT Q/Q Growth		 -70.00% 38.16% 53.41% 28.33% -184.36% 19.23% 115.31% 29.95% 86.52% -60.88% -167.81%
Net Income Q/Q Growth		 -111.81% 43.20% 56.67% 57.58% -267.24% 18.20% 109.80% 18.35% 86.47% -60.19% -191.67%
EPS Q/Q Growth		 -109.87% 43.23% 56.76% 62.07% -271.15% 17.86% 110.64% 17.71% 88.24% -60.00% -186.36%
Operating Cash Flow Q/Q Growth		 0.62% -11.65% -98.28% 830.00% -0.44% -8.70% -64.29% 100.00% 111.24% 6.05% -20.10%
Free Cash Flow Firm Q/Q Growth		 87.27% 4.13% -343.46% 1,307.47% 0.01% -7.55% -1,413.64% -90.66% 405.76% -141.89% -5,035.59%
Invested Capital Q/Q Growth		 -13.98% -10.92% -0.16% -5.09% -16.72% -23.15% 3.10% 17.25% 7.15% 1.75% 170.40%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 16.68% 16.37% 18.92% 20.15% 19.86% 18.04% 21.88% 23.69% 23.05% 22.55% 16.95%
EBITDA Margin		 -15.95% -8.40% -0.08% 3.17% -1.76% -24.83% 2.14% 7.40% 7.07% 6.24% -1.70%
Operating Margin		 -16.94% -10.54% -1.55% 2.33% -2.81% -25.94% 0.55% 6.13% 6.03% 4.76% -3.30%
EBIT Margin		 -17.21% -10.92% -1.96% 1.85% -3.15% -26.56% 0.74% 6.51% 5.95% 4.80% -3.55%
Profit (Net Income) Margin		 -16.68% -11.11% -1.96% 1.66% -3.29% -26.37% 0.31% 6.04% 10.69% 3.46% -3.12%
Tax Burden Percent		 96.91% 101.74% 100.00% 89.66% 104.30% 99.30% 41.67% 92.81% 179.71% 71.93% 88.00%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 0.00% 0.00% 0.00% 10.34% 0.00% 0.00% 58.33% 7.19% -79.71% 28.07% 0.00%
Return on Invested Capital (ROIC)		 -22.37% -12.13% -2.40% 5.28% -5.30% -46.19% 1.05% 23.58% 36.05% 9.94% -3.88%
ROIC Less NNEP Spread (ROIC-NNEP)		 141.47% 671.35% -205.01% -28.34% 41.28% 0.48% 0.70% 20.76% 37.45% 9.68% 505.01%
Return on Net Nonoperating Assets (RNNOA)		 -7.43% -5.97% -1.99% -0.95% -2.92% -0.15% -0.35% -7.00% -10.04% -2.45% -1.35%
Return on Equity (ROE)		 -29.80% -18.10% -4.39% 4.34% -8.23% -46.34% 0.71% 16.58% 26.01% 7.49% -5.23%
Cash Return on Invested Capital (CROIC)		 -0.44% 9.64% -11.35% 6.81% 19.25% 55.77% -23.42% -21.61% 17.13% -3.27% -99.98%
Operating Return on Assets (OROA)		 -23.40% -13.39% -3.10% 3.27% -5.49% -33.09% 1.14% 11.47% 9.69% 7.24% -3.61%
Return on Assets (ROA)		 -22.67% -13.62% -3.10% 2.93% -5.73% -32.86% 0.47% 10.64% 17.41% 5.21% -3.17%
Return on Common Equity (ROCE)		 -29.80% -18.10% -4.39% 4.34% -8.23% -46.34% 0.71% 16.55% 25.94% 7.46% -5.21%
Return on Equity Simple (ROE_SIMPLE)		 -35.78% -19.78% -4.39% 4.28% -8.48% -61.09% 0.70% 15.32% 23.40% 7.30% 0.00%
Net Operating Profit after Tax (NOPAT)		 -357 -155 -29 65 -58 -294 3.75 122 252 81 -65
NOPAT Margin		 -11.86% -7.38% -1.08% 2.09% -1.97% -18.16% 0.23% 5.69% 10.84% 3.43% -2.31%
Net Nonoperating Expense Percent (NNEP)		 -163.84% -683.48% 202.61% 33.62% -46.59% -46.67% 0.36% 2.83% -1.41% 0.26% -508.89%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - 14.40% 23.67% 7.21% -2.46%
Cost of Revenue to Revenue		 83.32% 83.63% 81.08% 79.85% 80.14% 81.96% 78.13% 76.31% 76.95% 77.45% 83.05%
SG&A Expenses to Revenue		 0.00% 0.00% 20.47% 17.81% 18.33% 24.15% 20.89% 17.09% 17.02% 17.53% 19.82%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 33.62% 26.91% 20.47% 17.81% 22.67% 43.98% 21.32% 17.56% 17.02% 17.78% 20.25%
Earnings before Interest and Taxes (EBIT)		 -518 -230 -52 58 -93 -430 12 139 138 114 -100
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -480 -177 -2.00 99 -52 -402 35 158 164 148 -48
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.21 1.86 1.00 1.04 1.07 1.12 1.33 1.67 1.14 1.23 0.62
Price to Tangible Book Value (P/TBV)		 1.64 3.20 1.72 1.67 1.51 1.12 1.49 2.00 1.35 1.66 1.32
Price to Revenue (P/Rev)		 0.56 1.04 0.45 0.40 0.41 0.49 0.58 0.66 0.52 0.58 0.49
Price to Earnings (P/E)		 0.00 0.00 0.00 24.27 0.00 0.00 188.83 10.96 4.87 17.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 4.12% 0.00% 0.00% 0.53% 9.13% 20.52% 5.88% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 1.21 1.89 1.00 1.04 1.08 1.28 1.58 1.89 1.19 1.29 0.66
Enterprise Value to Revenue (EV/Rev)		 0.57 1.02 0.47 0.41 0.35 0.25 0.39 0.56 0.39 0.47 0.58
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 12.91 0.00 0.00 18.06 7.55 5.53 7.60 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 22.03 0.00 0.00 52.68 8.58 6.58 9.87 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 19.53 0.00 0.00 168.58 9.81 3.61 13.84 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 5.29 9.19 0.00 17.51 4.64 2.11 21.07 0.00 4.83 3.78 10.60
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 17.47 0.00 15.13 4.93 1.12 0.00 0.00 7.59 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.08 0.05 0.14 0.11 0.00 0.00 0.00 0.00 0.00 0.00 0.18
Long-Term Debt to Equity		 0.08 0.05 0.14 0.11 0.00 0.00 0.00 0.00 0.00 0.00 0.18
Financial Leverage		 -0.05 -0.01 0.01 0.03 -0.07 -0.31 -0.50 -0.34 -0.27 -0.25 0.00
Leverage Ratio		 1.31 1.33 1.42 1.48 1.44 1.41 1.50 1.56 1.49 1.44 1.65
Compound Leverage Factor		 1.31 1.33 1.42 1.48 1.44 1.41 1.50 1.56 1.49 1.44 1.65
Debt to Total Capital		 7.15% 5.21% 12.03% 9.81% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 15.52%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 7.15% 5.21% 12.03% 9.81% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 15.52%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.14% 0.24% 0.28% 0.35% 0.19%
Common Equity to Total Capital		 92.85% 94.79% 87.97% 90.19% 100.00% 100.00% 99.86% 99.76% 99.72% 99.65% 84.30%
Debt to EBITDA		 -0.23 -0.37 -81.00 1.33 0.00 0.00 0.00 0.00 0.00 0.00 -8.56
Net Debt to EBITDA		 -0.04 0.23 -32.00 0.16 0.00 0.00 0.00 0.00 0.00 0.00 -5.15
Long-Term Debt to EBITDA		 -0.23 -0.37 -81.00 1.33 0.00 0.00 0.00 0.00 0.00 0.00 -8.56
Debt to NOPAT		 -0.30 -0.42 -5.64 2.02 0.00 0.00 0.00 0.00 0.00 0.00 -6.31
Net Debt to NOPAT		 -0.05 0.26 -2.23 0.24 0.00 0.00 0.00 0.00 0.00 0.00 -3.79
Long-Term Debt to NOPAT		 -0.30 -0.42 -5.64 2.02 0.00 0.00 0.00 0.00 0.00 0.00 -6.31
Altman Z-Score		 3.39 3.85 2.60 3.14 3.13 0.75 1.99 3.12 3.12 3.16 1.23
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.07% 0.19% 0.26% 0.32% 0.27%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 4.21 2.76 2.87 2.76 2.69 3.17 2.39 2.32 2.56 2.33 2.34
Quick Ratio		 1.87 1.33 1.32 1.36 1.40 2.15 1.67 1.39 1.63 1.46 1.07
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -7.00 124 -136 84 211 355 -83 -111 120 -27 -1,678
Operating Cash Flow to CapEx		 2,945.45% 5,875.00% -2,875.00% 663.64% 1,866.67% 2,362.50% 600.00% 0.00% 1,105.88% 3,311.11% 738.10%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 1.36 1.23 1.58 1.76 1.74 1.25 1.55 1.76 1.63 1.51 1.02
Accounts Receivable Turnover		 4.51 5.02 6.82 6.91 6.93 5.70 6.50 6.09 5.94 6.15 4.47
Inventory Turnover		 3.05 3.00 4.00 4.19 4.43 3.65 4.98 5.17 4.78 5.12 3.03
Fixed Asset Turnover		 20.83 13.68 20.21 27.80 26.12 14.85 15.62 18.57 18.57 16.48 13.40
Accounts Payable Turnover		 7.16 7.71 8.01 8.07 8.10 6.22 6.27 6.05 6.03 6.25 4.92
Days Sales Outstanding (DSO)		 81.00 72.67 53.55 52.82 52.69 64.03 56.14 59.98 61.49 59.37 81.67
Days Inventory Outstanding (DIO)		 119.48 121.80 91.21 87.12 82.34 99.98 73.29 70.65 76.33 71.29 120.32
Days Payable Outstanding (DPO)		 51.01 47.33 45.56 45.24 45.07 58.72 58.26 60.35 60.49 58.38 74.26
Cash Conversion Cycle (CCC)		 149.48 147.14 99.20 94.70 89.96 105.29 71.17 70.28 77.33 72.28 127.73
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 1,421 1,142 1,249 1,230 961 312 399 632 764 872 2,485
Invested Capital Turnover		 1.89 1.64 2.22 2.52 2.69 2.54 4.59 4.14 3.33 2.90 1.68
Increase / (Decrease) in Invested Capital		 -350 -279 107 -19 -269 -649 87 233 132 108 1,613
Enterprise Value (EV)		 1,714 2,159 1,253 1,278 1,040 398 632 1,193 908 1,125 1,643
Market Capitalization		 1,696 2,200 1,189 1,262 1,223 785 944 1,403 1,204 1,377 1,391
Book Value per Share		 $13.09 $11.01 $10.99 $11.20 $10.51 $6.39 $6.43 $7.62 $9.97 $10.62 $21.26
Tangible Book Value per Share		 $9.67 $6.40 $6.41 $6.97 $7.44 $6.39 $5.74 $6.35 $8.40 $7.83 $10.01
Total Capital		 1,511 1,248 1,347 1,346 1,144 699 712 844 1,063 1,128 2,649
Total Debt		 108 65 162 132 0.00 0.00 0.00 0.00 0.00 0.00 411
Total Long-Term Debt		 108 65 162 132 0.00 0.00 0.00 0.00 0.00 0.00 411
Net Debt		 18 -41 64 16 -183 -387 -313 -212 -299 -256 247
Capital Expenditures (CapEx)		 11 4.00 4.00 11 12 8.00 5.00 9.00 17 9.00 21
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 895 506 637 662 488 202 201 366 351 330 1,140
Debt-free Net Working Capital (DFNWC)		 985 612 735 778 671 589 514 578 650 586 1,304
Net Working Capital (NWC)		 985 612 735 778 671 589 514 578 650 586 1,304
Net Nonoperating Expense (NNE)		 145 79 23 13 39 133 -1.25 -7.42 3.59 -0.72 23
Net Nonoperating Obligations (NNO)		 18 -41 64 16 -183 -387 -313 -212 -299 -256 247
Total Depreciation and Amortization (D&A)		 38 53 50 41 41 28 23 19 26 34 52
Debt-free, Cash-free Net Working Capital to Revenue		 29.73% 24.02% 24.06% 21.17% 16.54% 12.48% 12.32% 17.13% 15.12% 13.91% 40.43%
Debt-free Net Working Capital to Revenue		 32.72% 29.05% 27.76% 24.88% 22.74% 36.38% 31.50% 27.06% 28.01% 24.69% 46.24%
Net Working Capital to Revenue		 32.72% 29.05% 27.76% 24.88% 22.74% 36.38% 31.50% 27.06% 28.01% 24.69% 46.24%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($4.68) ($2.18) ($0.48) $0.47 ($0.89) ($3.91) $0.05 $1.14 $2.26 $0.75 ($0.76)
Adjusted Weighted Average Basic Shares Outstanding		 107.17M 107.42M 107.75M 108.30M 109M 109.41M 110.40M 110.68M 107.40M 106.35M 117.88M
Adjusted Diluted Earnings per Share		 ($4.68) ($2.18) ($0.48) $0.47 ($0.89) ($3.91) $0.05 $1.13 $2.24 $0.74 ($0.76)
Adjusted Weighted Average Diluted Shares Outstanding		 107.17M 107.42M 107.75M 108.64M 109M 109.41M 110.49M 111.22M 108.42M 107.15M 117.88M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 107.30M 107.48M 108.03M 108.44M 109.21M 109.95M 110.56M 110.33M 106.17M 105.69M 186.35M
Normalized Net Operating Profit after Tax (NOPAT)		 -82 -155 -29 65 32 -69 11 131 98 86 -57
Normalized NOPAT Margin		 -2.72% -7.38% -1.08% 2.09% 1.07% -4.28% 0.69% 6.13% 4.22% 3.61% -2.01%
Pre Tax Income Margin		 -17.21% -10.92% -1.96% 1.85% -3.15% -26.56% 0.74% 6.51% 5.95% 4.80% -3.55%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 5.43% 20.16% 28.05% -42.05%

Quarterly Metrics And Ratios for DNOW

This table displays calculated financial ratios and metrics derived from DNOW's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - - - - - 186,346,145.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 186,346,145.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - -0.24
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 1.91% 1.46% -3.60% 6.57% 3.06% 2.88% 6.39% -0.79% 4.62% 67.95% 97.50%
EBITDA Growth		 -10.20% -2.56% -12.20% 2.44% -31.82% 5.26% 13.89% 0.00% 43.33% -583.33% -192.50%
EBIT Growth		 -15.91% -8.82% -17.14% -5.71% -40.54% -3.23% 3.45% -3.03% 45.45% -846.15% -306.90%
NOPAT Growth		 -14.63% 360.65% -36.64% -28.51% -61.17% -85.35% 13.44% 0.00% 89.69% -784.32% -259.09%
Net Income Growth		 -14.63% 359.38% -34.38% -26.47% -62.86% -84.35% 9.52% 0.00% 92.31% -905.00% -300.00%
EPS Growth		 -8.57% 375.00% -32.14% -32.26% -62.50% -83.46% 5.26% 9.52% 91.67% -847.37% -226.32%
Operating Cash Flow Growth		 -91.11% 1,650.00% 1,450.00% -75.29% 1,750.00% 16.19% -119.75% 114.29% -41.89% -31.97% -493.75%
Free Cash Flow Firm Growth		 -25.23% 109.87% -1.95% -115.89% 6.18% -534.44% 94.35% 99.01% 72.23% -1,865.32% -14,133.33%
Invested Capital Growth		 32.28% 20.89% 31.80% 33.83% 20.20% 14.14% 3.82% 2.99% 7.23% 184.98% 180.86%
Revenue Q/Q Growth		 -1.01% -5.61% 1.44% 12.43% -4.27% -5.78% 4.90% 4.84% 0.96% 51.26% 23.36%
EBITDA Q/Q Growth		 7.32% -13.64% -5.26% 16.67% -28.57% 33.33% 2.50% 2.44% 2.38% -504.65% 78.74%
EBIT Q/Q Growth		 5.71% -16.22% -6.45% 13.79% -33.33% 36.36% 0.00% 6.67% 0.00% -706.25% 69.07%
NOPAT Q/Q Growth		 0.08% 333.55% -86.64% 23.30% -45.64% 63.59% 3.45% 8.70% 3.13% -610.45% 73.40%
Net Income Q/Q Growth		 2.94% 320.00% -85.71% 19.05% -48.00% 76.92% 0.00% 8.70% 0.00% -744.00% 72.67%
EPS Q/Q Growth		 3.23% 315.63% -85.71% 10.53% -42.86% 83.33% -9.09% 15.00% 0.00% -717.39% 83.10%
Operating Cash Flow Q/Q Growth		 -95.29% 2,525.00% -22.86% -74.07% 252.38% 64.86% -113.11% 381.25% -4.44% 93.02% -214.46%
Free Cash Flow Firm Q/Q Growth		 -47.83% 114.20% -1,086.35% -4.25% 35.76% 34.23% 87.17% 81.82% -1,710.94% -4,716.84% 2.10%
Invested Capital Q/Q Growth		 5.79% 7.15% 16.62% 1.23% -4.99% 1.75% 6.08% 0.43% -1.08% 170.40% 4.55%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 22.79% 23.42% 22.91% 21.80% 22.28% 23.29% 23.21% 22.93% 22.87% 5.21% 16.31%
EBITDA Margin		 7.48% 6.85% 6.39% 6.64% 4.95% 7.01% 6.84% 6.69% 6.78% -18.14% -3.13%
Operating Margin		 6.29% 5.77% 4.97% 5.21% 3.80% 5.08% 5.01% 5.10% 5.21% -19.60% -4.23%
EBIT Margin		 6.29% 5.59% 5.15% 5.21% 3.63% 5.25% 5.01% 5.10% 5.05% -20.23% -5.07%
Profit (Net Income) Margin		 5.95% 26.49% 3.73% 3.95% 2.15% 4.03% 3.84% 3.98% 3.94% -16.79% -3.72%
Tax Burden Percent		 94.59% 474.19% 72.41% 75.76% 59.09% 76.67% 76.67% 78.13% 78.13% 82.99% 73.33%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 5.41% -374.19% 27.59% 24.24% 40.91% 23.33% 23.33% 21.88% 21.88% 0.00% 0.00%
Return on Invested Capital (ROIC)		 21.99% 90.91% 10.57% 11.72% 6.73% 11.30% 10.19% 10.45% 11.14% -23.06% -5.72%
ROIC Less NNEP Spread (ROIC-NNEP)		 21.99% 92.77% 10.17% 11.72% 6.99% 11.02% 10.19% 10.45% 11.43% 630.28% -13.34%
Return on Net Nonoperating Assets (RNNOA)		 -5.92% -24.86% -1.88% -2.37% -1.57% -2.79% -1.87% -1.98% -2.62% -1.69% -0.96%
Return on Equity (ROE)		 16.07% 66.06% 8.69% 9.35% 5.16% 8.50% 8.32% 8.47% 8.52% -24.74% -6.68%
Cash Return on Invested Capital (CROIC)		 -6.25% 17.13% 3.04% 0.00% 8.13% -3.27% 5.51% 6.23% 3.83% -99.98% -101.81%
Operating Return on Assets (OROA)		 10.95% 9.10% 8.11% 8.18% 5.78% 7.92% 7.44% 7.60% 7.56% -20.58% -6.19%
Return on Assets (ROA)		 10.36% 43.16% 5.87% 6.19% 3.41% 6.07% 5.70% 5.94% 5.91% -17.08% -4.54%
Return on Common Equity (ROCE)		 16.03% 65.88% 8.66% 9.32% 5.14% 8.48% 8.29% 8.44% 8.49% -24.67% -6.66%
Return on Equity Simple (ROE_SIMPLE)		 14.71% 0.00% 22.03% 20.82% 18.49% 0.00% 7.37% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 35 152 20 25 14 22 23 25 26 -132 -35
NOPAT Margin		 5.95% 27.34% 3.60% 3.95% 2.24% 3.89% 3.84% 3.98% 4.07% -13.72% -2.96%
Net Nonoperating Expense Percent (NNEP)		 0.00% -1.86% 0.41% 0.00% -0.26% 0.28% 0.00% 0.00% -0.30% -653.33% 7.63%
Return On Investment Capital (ROIC_SIMPLE)		 - 14.27% - - - 1.97% 2.01% 2.15% 2.18% -4.97% -1.29%
Cost of Revenue to Revenue		 77.21% 76.58% 77.09% 78.20% 77.72% 76.71% 76.79% 77.07% 77.13% 94.79% 83.69%
SG&A Expenses to Revenue		 16.50% 17.66% 17.94% 16.59% 17.66% 18.04% 18.20% 17.83% 17.67% 23.57% 20.54%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 16.50% 17.66% 17.94% 16.59% 18.48% 18.21% 18.20% 17.83% 17.67% 24.82% 20.54%
Earnings before Interest and Taxes (EBIT)		 37 31 29 33 22 30 30 32 32 -194 -60
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 44 38 36 42 30 40 41 42 43 -174 -37
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.40 1.14 1.50 1.34 1.24 1.23 1.58 1.35 1.35 0.62 1.04
Price to Tangible Book Value (P/TBV)		 1.72 1.35 1.96 1.73 1.59 1.66 2.13 1.82 1.81 1.32 2.40
Price to Revenue (P/Rev)		 0.55 0.52 0.70 0.63 0.58 0.58 0.75 0.65 0.66 0.49 0.65
Price to Earnings (P/E)		 9.60 4.87 6.82 6.46 6.72 17.00 22.01 18.86 16.86 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 10.42% 20.52% 14.66% 15.48% 14.89% 5.88% 4.54% 5.30% 5.93% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 1.51 1.19 1.61 1.41 1.31 1.29 1.72 1.44 1.46 0.66 1.03
Enterprise Value to Revenue (EV/Rev)		 0.47 0.39 0.62 0.54 0.48 0.47 0.66 0.56 0.55 0.58 0.79
Enterprise Value to EBITDA (EV/EBITDA)		 6.52 5.53 9.00 7.96 7.67 7.60 10.40 8.75 8.06 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 7.63 6.58 10.84 9.80 9.74 9.87 13.84 11.74 10.79 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 7.98 3.61 5.99 5.59 5.39 13.84 18.94 15.94 13.94 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 12.09 4.83 5.20 6.04 3.98 3.78 7.92 5.95 6.90 10.60 35.26
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 7.59 60.15 0.00 17.55 0.00 31.82 23.48 39.37 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.18 0.27
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.18 0.27
Financial Leverage		 -0.27 -0.27 -0.19 -0.20 -0.22 -0.25 -0.18 -0.19 -0.23 0.00 0.07
Leverage Ratio		 1.55 1.49 1.52 1.51 1.46 1.44 1.46 1.43 1.41 1.65 1.70
Compound Leverage Factor		 1.55 1.49 1.52 1.51 1.46 1.44 1.46 1.43 1.41 1.65 1.70
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 15.52% 21.04%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 15.52% 21.04%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.33% 0.28% 0.28% 0.36% 0.36% 0.35% 0.44% 0.43% 0.25% 0.19% 0.18%
Common Equity to Total Capital		 99.67% 99.72% 99.72% 99.64% 99.64% 99.65% 99.56% 99.57% 99.75% 84.30% 78.78%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -8.56 -4.57
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -5.15 -3.64
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -8.56 -4.57
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -6.31 -4.74
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -3.79 -3.78
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -6.31 -4.74
Altman Z-Score		 2.93 2.89 3.12 3.23 3.10 2.99 3.48 3.25 3.46 1.15 1.65
Noncontrolling Interest Sharing Ratio		 0.29% 0.26% 0.31% 0.35% 0.35% 0.32% 0.36% 0.40% 0.30% 0.27% 0.30%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 2.44 2.56 2.26 2.48 2.54 2.33 2.32 2.37 2.52 2.34 2.42
Quick Ratio		 1.39 1.63 1.29 1.46 1.60 1.46 1.43 1.48 1.60 1.07 1.08
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -139 20 -195 -203 -130 -86 -11 -2.00 -36 -1,745 -1,708
Operating Cash Flow to CapEx		 100.00% 5,250.00% 8,100.00% 700.00% 3,700.00% 4,066.67% -266.67% 1,125.00% 1,075.00% 1,185.71% -1,187.50%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 1.74 1.63 1.57 1.57 1.59 1.51 1.48 1.49 1.50 1.02 1.22
Accounts Receivable Turnover		 5.77 5.94 5.53 5.70 5.89 6.15 5.67 5.70 5.83 4.47 5.13
Inventory Turnover		 4.58 4.78 4.25 4.39 4.69 5.12 4.59 4.74 5.05 3.03 3.64
Fixed Asset Turnover		 19.36 18.57 17.83 17.39 17.59 16.48 16.50 16.47 16.95 13.40 16.37
Accounts Payable Turnover		 5.55 6.03 5.36 5.63 6.30 6.25 5.58 6.22 6.42 4.92 5.79
Days Sales Outstanding (DSO)		 63.28 61.49 66.02 63.98 62.02 59.37 64.32 64.00 62.58 81.67 71.20
Days Inventory Outstanding (DIO)		 79.74 76.33 85.85 83.07 77.90 71.29 79.60 77.02 72.28 120.32 100.31
Days Payable Outstanding (DPO)		 65.77 60.49 68.14 64.80 57.90 58.38 65.40 58.70 56.87 74.26 62.99
Cash Conversion Cycle (CCC)		 77.25 77.33 83.72 82.25 82.02 72.28 78.51 82.32 78.00 127.73 108.51
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 713 764 891 902 857 872 925 929 919 2,485 2,598
Invested Capital Turnover		 3.69 3.33 2.94 2.97 3.00 2.90 2.65 2.63 2.74 1.68 1.93
Increase / (Decrease) in Invested Capital		 174 132 215 228 144 108 34 27 62 1,613 1,673
Enterprise Value (EV)		 1,076 908 1,431 1,273 1,120 1,125 1,591 1,339 1,338 1,643 2,679
Market Capitalization		 1,267 1,204 1,616 1,466 1,377 1,377 1,805 1,566 1,601 1,391 2,219
Book Value per Share		 $8.47 $9.97 $10.11 $10.25 $10.46 $10.62 $10.75 $10.95 $11.26 $21.26 $11.47
Tangible Book Value per Share		 $6.89 $8.40 $7.75 $7.92 $8.14 $7.83 $7.98 $8.14 $8.45 $10.01 $4.95
Total Capital		 907 1,063 1,079 1,099 1,118 1,128 1,144 1,161 1,185 2,649 2,714
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 411 571
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 411 571
Net Debt		 -194 -299 -188 -197 -261 -256 -219 -232 -266 247 455
Capital Expenditures (CapEx)		 4.00 2.00 1.00 3.00 2.00 3.00 6.00 4.00 4.00 7.00 8.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 416 351 395 414 380 330 388 393 395 1,140 1,205
Debt-free Net Working Capital (DFNWC)		 610 650 583 611 641 586 607 625 661 1,304 1,321
Net Working Capital (NWC)		 610 650 583 611 641 586 607 625 661 1,304 1,321
Net Nonoperating Expense (NNE)		 0.00 4.74 -0.72 0.00 0.59 -0.77 0.00 0.00 0.78 29 9.00
Net Nonoperating Obligations (NNO)		 -194 -299 -188 -197 -261 -256 -219 -232 -266 247 455
Total Depreciation and Amortization (D&A)		 7.00 7.00 7.00 9.00 8.00 10 11 10 11 20 23
Debt-free, Cash-free Net Working Capital to Revenue		 17.99% 15.12% 17.17% 17.70% 16.12% 13.91% 16.11% 16.35% 16.24% 40.43% 35.40%
Debt-free Net Working Capital to Revenue		 26.37% 28.01% 25.35% 26.12% 27.20% 24.69% 25.20% 26.00% 27.18% 46.24% 38.81%
Net Working Capital to Revenue		 26.37% 28.01% 25.35% 26.12% 27.20% 24.69% 25.20% 26.00% 27.18% 46.24% 38.81%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.32 $1.35 $0.20 $0.21 $0.12 $0.22 $0.20 $0.24 $0.23 ($1.43) ($0.24)
Adjusted Weighted Average Basic Shares Outstanding		 106.98M 107.40M 106.45M 106.87M 106.31M 106.35M 105.98M 105.46M 105.01M 117.88M 185.76M
Adjusted Diluted Earnings per Share		 $0.32 $1.33 $0.19 $0.21 $0.12 $0.22 $0.20 $0.23 $0.23 ($1.42) ($0.24)
Adjusted Weighted Average Diluted Shares Outstanding		 108.12M 108.42M 107.35M 107.62M 107.01M 107.15M 106.74M 106.00M 105.61M 117.88M 185.76M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 106.33M 106.17M 106.80M 106.47M 105.85M 105.69M 105.57M 105.01M 105.01M 186.35M 182.55M
Normalized Net Operating Profit after Tax (NOPAT)		 35 22 20 25 17 22 23 25 26 -132 -35
Normalized NOPAT Margin		 5.95% 4.04% 3.60% 3.95% 2.73% 3.89% 3.84% 3.98% 4.07% -13.72% -2.96%
Pre Tax Income Margin		 6.29% 5.59% 5.15% 5.21% 3.63% 5.25% 5.01% 5.10% 5.05% -20.23% -5.07%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 39.10% 20.16% 7.59% 7.46% 9.22% 28.05% 35.71% 46.43% 33.33% -42.05% -51.30%

Financials Breakdown Chart

Key Financial Trends

DNOW has shown a mix of solid revenue stability and improving cash generation in 2025, but faces a notable earnings hit in Q4 2025 driven by margin compression and a large acquisition-related outlay. Below are the key takeaways drawn from the last four years of quarterly statements.

  • 2025 revenue base remained solid, with quarterly revenue around $599M–$634M in Q1–Q3 2025, topping $959M in Q4 2025 (the spike appears driven by acquisitions, not necessarily sustainable). This indicates continued demand and growth potential.
  • Cash flow from continuing operating activities turned positive in 2025 Q3 ($43M) and rose further in Q4 ($83M), signaling improving cash generation despite a quarterly net loss in Q4.
  • The balance sheet remained liquidity-friendly in 2025, with Total equity near $1.18B in Q3 2025 and a healthy current ratio around 2.5 (Current assets ≈ $1.096B vs. Current liabilities ≈ $435M), suggesting solid financial flexibility.
  • Impairment charges effectively ended by 2025 (Impairment expense was 0 in Q3 2025; no impairment drag noted in Q4 2025), removing a common earnings headwind seen in earlier years.
  • Longer-term revenue growth trend from 2023 through 2025 shows a stable base in the ~$550M–$640M range per quarter, culminating in a notable Q4 2025 spike, implying potential upside from strategic actions.
  • Q4 2025 acquisitions of about $566M generated a large asset base and revenue potential but came with integration risk and a sizable investing cash outflow (Net cash from continuing investing activities ≈ -$571M).
  • Financing activity in Q4 2025 provided a sizeable liquidity boost (Net cash from financing activities ≈ $384M), suggesting access to external funding despite ongoing investing activity.
  • Q4 2025 gross margin collapsed to roughly 5% (Gross Profit ≈ $50M on Revenue ≈ $959M) due to high cost of revenue (COGS ≈ $909M) and elevated SG&A (≈ $226M), driving a weak operating result.
  • Q4 2025 net income was -$161M with earnings per share of about -$1.42 to -$1.43, marking a material quarterly earnings setback despite cash flow strength elsewhere.
  • Investing-heavy year-end activity in 2025 (Acquisitions around $566M) and a large net investing outflow contributed to a negative overall cash change for the quarter, raising near-term liquidity considerations despite strong financing support.
05/15/26 06:50 PM ETAI Generated. May Contain Errors.

DNOW Financials - Frequently Asked Questions

According to the most recent income statement we have on file, DNOW's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

DNOW's net income appears to be on a downward trend, with a most recent value of -$88 million in 2025, falling from -$502 million in 2015. The previous period was $79 million in 2024. See where experts think DNOW is headed by visiting DNOW's forecast page.

DNOW's total operating income in 2025 was -$93 million, based on the following breakdown:
  • Total Gross Profit: $478 million
  • Total Operating Expenses: $571 million

Over the last 10 years, DNOW's total revenue changed from $3.01 billion in 2015 to $2.82 billion in 2025, a change of -6.3%.

DNOW's total liabilities were at $1.69 billion at the end of 2025, a 242.0% increase from 2024, and a 293.0% increase since 2015.

In the past 10 years, DNOW's cash and equivalents has ranged from $90 million in 2015 to $387 million in 2020, and is currently $164 million as of their latest financial filing in 2025.

Over the last 10 years, DNOW's book value per share changed from 13.09 in 2015 to 21.26 in 2025, a change of 62.5%.


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Financial statements for NYSE:DNOW last updated on 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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