Nabors Industries (NBR) Financials

$103.51 +2.16 (+2.13%)

Closing price 03:59 PM Eastern

Extended Trading

$103.64 +0.14 (+0.13%)

As of 07:53 PM Eastern

Annual Income Statements for Nabors Industries

This table shows Nabors Industries' 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	-373	-1,030	-547	-653	-720	-820	-569	-350	-12	-176	287
Consolidated Net Income / (Loss)	-372	-1,030	-541	-613	-681	-763	-544	-307	50	-88	374
Net Income / (Loss) Continuing Operations	-329	-1,011	-497	-598	-680	-763	-544	-307	50	-88	374
Total Pre-Tax Income	-428	-1,198	-580	-519	-589	-706	-488	-246	129	-31	538
Total Operating Income	-469	-1,155	-566	-474	-362	-499	-317	-246	129	-31	538
Total Gross Profit	1,418	662	846	1,081	1,114	802	732	2,669	3,050	2,969	3,212
Total Revenue	3,789	2,006	2,564	3,058	3,043	2,135	2,019	2,669	3,050	2,969	3,212
Operating Revenue	3,789	2,006	2,564	3,058	3,043	2,135	2,019	2,669	3,050	2,969	3,212
Total Cost of Revenue	2,371	1,344	1,718	1,977	1,929	1,333	1,287	0.00	0.00	0.00	0.00
Total Operating Expenses	1,887	1,817	1,413	1,555	1,476	1,302	1,049	2,914	2,921	3,000	2,675
Selling, General & Admin Expense	324	228	251	266	259	204	214	228	244	249	305
Research & Development Expense	41	34	51	56	50	34	35	50	56	57	53
Depreciation Expense	970	872	843	867	876	854	693	665	645	633	649
Other Operating Expenses / (Income)	182	185	223	227	-11	29	40	1,971	1,975	2,060	1,668
Total Other Income / (Expense), net	41	-43	-14	-44	-227	-206	-171	0.00	0.00	0.00	0.00
Income Tax Expense	-98	-187	-83	79	92	57	56	62	79	57	163
Net Income / (Loss) Attributable to Noncontrolling Interest	0.38	0.14	6.18	28	22	43	26	43	62	88	88
Basic Earnings per Share	($1.29)	($3.64)	($1.90)	($99.61)	($105.39)	($118.69)	($76.58)	($40.52)	($5.49)	($22.37)	$18.75
Weighted Average Basic Shares Outstanding	282.98M	276.48M	280.65M	6.69M	7.03M	7.06M	7.61M	8.90M	9.16M	9.20M	13.19M
Diluted Earnings per Share	($1.29)	($3.64)	($1.90)	($99.61)	($105.39)	($118.69)	($76.58)	($40.52)	($5.49)	($22.37)	$17.39
Weighted Average Diluted Shares Outstanding	282.98M	276.48M	280.65M	6.69M	7.03M	7.06M	7.61M	8.90M	9.16M	9.20M	14.42M
Weighted Average Basic & Diluted Shares Outstanding	288.90M	282.90M	287.80M	328.30M	367.13M	7.36M	8.57M	9.46M	10.63M	10.76M	15.83M

This table shows Nabors Industries' 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	-49	-17	-34	-32	-56	-54	33	-31	274	10	-15
Consolidated Net Income / (Loss)	-31	3.86	-9.00	-13	-33	-33	57	-2.21	302	17	4.26
Net Income / (Loss) Continuing Operations	-31	3.86	-9.00	-13	-33	-33	57	-2.21	302	17	4.26
Total Pre-Tax Income	-21	23	7.04	2.53	-23	-18	72	21	420	24	21
Total Operating Income	-21	-22	7.04	2.53	-23	-68	72	21	420	24	21
Total Gross Profit	296	2,103	744	743	743	2,048	743	839	826	805	786
Total Revenue	744	738	744	743	743	739	743	839	826	805	786
Operating Revenue	744	738	744	743	743	739	743	839	826	805	786
Total Cost of Revenue	448	-1,366	0.00	0.00	0.00	-1,309	0.00	0.00	0.00	-	0.00
Total Operating Expenses	317	2,125	737	740	766	2,116	671	818	405	781	765
Selling, General & Admin Expense	62	57	62	62	64	61	69	83	77	76	72
Research & Development Expense	14	14	14	14	14	14	14	13	13	13	14
Depreciation Expense	161	161	158	160	159	156	155	175	160	159	156
Other Operating Expenses / (Income)	80	1,893	504	504	529	1,883	433	548	155	532	524
Total Other Income / (Expense), net	0.00	45	0.00	0.00	0.00	50	0.00	0.00	0.00	-	0.00
Income Tax Expense	11	19	16	16	10	15	15	23	118	7.44	17
Net Income / (Loss) Attributable to Noncontrolling Interest	18	21	25	19	23	21	24	29	28	6.65	19
Basic Earnings per Share	($6.26)	($3.31)	($4.54)	($4.29)	($6.86)	($6.68)	$2.35	($2.71)	$18.25	$0.86	($1.54)
Weighted Average Basic Shares Outstanding	9.15M	9.16M	9.18M	9.21M	9.21M	9.20M	10.46M	14.08M	14.10M	13.19M	14.21M
Diluted Earnings per Share	($6.26)	($3.03)	($4.54)	($4.29)	($6.86)	($6.68)	$2.18	($2.71)	$16.85	$1.07	($1.54)
Weighted Average Diluted Shares Outstanding	9.15M	9.16M	9.18M	9.21M	9.21M	9.20M	11.67M	14.08M	15.32M	14.42M	14.21M
Weighted Average Basic & Diluted Shares Outstanding	9.47M	10.63M	10.70M	10.71M	10.71M	10.76M	14.54M	14.58M	15.72M	15.83M	15.96M

This table details how cash moves in and out of Nabors Industries' 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	-247	9.50	77	114	-9.04	33	798	-536	637	-651	220
Net Cash From Operating Activities	857	532	63	326	685	350	429	501	638	581	693
Net Cash From Continuing Operating Activities	857	532	63	326	685	350	429	501	638	581	693
Net Income / (Loss) Continuing Operations	-372	-1,030	-541	-613	-681	-763	-544	-307	50	-88	374
Consolidated Net Income / (Loss)	-372	-1,030	-541	-613	-681	-763	-544	-307	50	-88	374
Depreciation Expense	973	874	845	869	876	854	693	665	645	633	649
Amortization Expense	7.26	6.46	28	32	31	31	21	8.14	8.74	8.81	10
Non-Cash Adjustments To Reconcile Net Income	466	792	109	182	285	171	80	123	-9.34	107	-511
Changes in Operating Assets and Liabilities, net	-218	-111	-379	-145	173	56	177	13	-57	-80	170
Net Cash From Investing Activities	-227	-382	-498	-367	-356	-165	-117	-369	-570	-555	97
Net Cash From Continuing Investing Activities	-227	-382	-498	-367	-356	-165	-117	-369	-570	-555	97
Purchase of Property, Plant & Equipment	-867	-395	-574	-459	-428	-196	-234	-373	-541	-568	-716
Acquisitions	-81	-22	-	-21	-2.93	-	-	-	0.00	0.00	84
Purchase of Investments	-0.01	-0.02	-6.72	-0.68	-4.32	-	-15	-21	-38	-7.72	-4.35
Divestitures	-	-	12	-	-	-	-	-	0.00	0.00	623
Other Investing Activities, net	719	35	58	109	60	2.67	7.21	-0.86	8.71	20	110
Net Cash From Financing Activities	-850	-138	512	156	-332	-148	488	-662	593	-662	-567
Net Cash From Continuing Financing Activities	-846	-138	512	156	-332	-148	488	-662	593	-662	-567
Repayment of Debt	-1,312	-1,298	-779	-2,423	-1,327	-2,673	-418	-648	-324	-1,526	-1,315
Payment of Dividends	-69	-	-76	-5.45	-54	-28	-11	-3.55	-2.27	-0.95	-349
Issuance of Debt	4.94	1,212	1,336	1,935	1,049	2,553	700	0.00	900	865	1,098
Other Financing Activities, net	625	-51	21	70	0.00	0.00	276	0.00	19	0.00	0.00
Effect of Exchange Rate Changes	-26	-	-	-	-	-	-1.74	-7.22	-23	-15	-3.68

This table details how cash moves in and out of Nabors Industries' 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	287	567	-640	57	-9.44	-58	10	-5.31	-144	359	-440
Net Cash From Operating Activities	133	182	107	182	144	149	88	152	208	246	113
Net Cash From Continuing Operating Activities	133	182	107	182	144	149	88	152	208	246	113
Net Income / (Loss) Continuing Operations	-31	3.86	-9.00	-13	-33	-33	57	-2.21	302	17	4.26
Consolidated Net Income / (Loss)	-31	3.86	-9.00	-13	-33	-33	57	-2.21	302	17	4.26
Depreciation Expense	161	161	158	160	159	156	155	175	160	159	156
Amortization Expense	2.15	2.34	2.27	2.26	2.23	2.05	2.14	2.25	2.29	3.76	1.77
Non-Cash Adjustments To Reconcile Net Income	24	13	18	15	41	33	-90	-8.03	-398	-15	7.18
Changes in Operating Assets and Liabilities, net	-23	1.07	-61	17	-25	-9.95	-37	-15	141	81	-56
Net Cash From Investing Activities	-146	-141	-107	-120	-126	-202	-75	-136	167	141	-170
Net Cash From Continuing Investing Activities	-146	-141	-107	-120	-126	-202	-75	-136	167	141	-170
Purchase of Property, Plant & Equipment	-143	-134	-105	-127	-128	-208	-165	-179	-210	-162	-165
Acquisitions	-	-	0.00	-	-	-	84	-	-	-	0.00
Purchase of Investments	-3.53	-10	-7.54	-0.08	-0.06	-0.04	-0.18	-1.60	-2.55	-0.01	-6.52
Other Investing Activities, net	-3.89	-1.55	0.04	4.62	0.01	0.01	5.79	7.51	0.00	103	1.97
Net Cash From Financing Activities	302	538	-635	-1.23	-26	-0.03	-1.96	-19	-518	-27	-383
Net Cash From Continuing Financing Activities	302	538	-635	-1.23	-26	-0.03	-1.96	-19	-518	-27	-383
Repayment of Debt	-98	201	-707	-55	-671	222	-263	-67	-411	-574	-380
Issuance of Debt	95	430	75	55	645	-225	263	55	80	700	0.00
Other Financing Activities, net	305	-92	-2.63	-	-	2.63	-2.15	-	-	2.15	-3.60
Effect of Exchange Rate Changes	-	-	-5.91	-	-1.25	-4.70	-0.42	-1.78	-0.47	-1.01	-1.05

This table presents Nabors Industries' 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	9,538	8,187	8,402	7,854	6,761	5,503	5,525	4,730	5,278	4,504	4,790
Total Current Assets	1,476	1,156	1,447	1,594	1,249	1,131	1,502	1,001	1,646	1,000	1,552
Cash & Equivalents	255	264	337	448	436	472	991	451	1,057	390	941
Short-Term Investments	20	31	28	34	17	9.50	0.02	1.29	13	7.65	0.03
Accounts Receivable	785	508	698	756	453	363	288	327	348	388	392
Inventories, net	154	104	166	166	176	161	126	128	148	130	95
Other Current Assets	187	172	180	178	164	110	96	93	80	84	124
Plant, Property, & Equipment, net	7,028	6,268	6,110	5,468	4,931	3,986	3,348	3,026	2,899	2,831	2,920
Total Noncurrent Assets	1,034	764	845	793	581	386	675	703	734	674	318
Noncurrent Deferred & Refundable Income Taxes	-	367	419	345	306	247	259	257	239	216	189
Other Noncurrent Operating Assets	452	230	253	264	247	139	416	446	495	458	129
Total Liabilities & Shareholders' Equity	9,538	8,187	8,402	7,854	6,761	5,503	5,525	4,730	5,278	4,504	4,790
Total Liabilities	5,244	4,932	5,259	4,699	4,285	3,804	4,131	3,514	3,997	3,298	3,352
Total Current Liabilities	1,006	822	919	832	657	515	525	596	1,214	572	993
Short-Term Debt	6.51	0.30	0.18	0.56	-	-	-	0.00	630	0.00	377
Accounts Payable	272	265	363	393	295	221	254	314	294	321	300
Accrued Expenses	687	543	533	418	333	276	247	248	230	224	279
Current Deferred & Payable Income Tax Liabilities	41	14	23	21	15	10	19	28	54	20	26
Other Current Liabilities	-	-	-	-	13	8.31	5.42	6.78	5.42	6.77	9.74
Total Noncurrent Liabilities	4,237	4,110	4,340	3,867	3,629	3,288	3,606	2,918	2,783	2,726	2,359
Long-Term Debt	3,655	3,578	4,028	3,586	3,333	2,969	3,263	2,538	2,512	2,505	2,117
Noncurrent Deferred & Payable Income Tax Liabilities	29	9.50	10	6.31	3.15	1.58	2.77	2.86	1.37	2.49	7.13
Other Noncurrent Operating Liabilities	553	522	302	274	292	318	340	378	270	218	235
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	-	-	204	405	425	443	675	679	739	785	482
Total Equity & Noncontrolling Interests	4,294	3,255	2,939	2,750	2,050	1,257	719	537	542	421	955
Total Preferred & Common Equity	4,283	3,247	2,912	2,701	1,983	1,151	591	369	327	135	591
Total Common Equity	4,283	3,247	2,912	2,701	1,983	1,151	591	369	327	135	591
Common Stock	2,493	2,522	2,791	3,393	3,413	3,424	3,455	3,537	3,539	3,553	3,753
Retained Earnings	3,131	2,033	1,423	651	-105	-946	-1,538	-1,841	-1,886	-2,092	-1,837
Treasury Stock	-1,294	-1,296	-1,314	-1,314	-1,314	-1,316	-1,316	-1,316	-1,316	-1,316	-1,316
Accumulated Other Comprehensive Income / (Loss)	-48	-12	11	-29	-12	-11	-11	-11	-11	-10	-10
Noncontrolling Interest	11	7.77	27	49	67	105	128	168	215	286	364

This table presents Nabors Industries' 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	4,769	4,700	4,463	4,727	4,645	4,616	4,554	5,050	5,039	4,834	4,386
Total Current Assets	966	1,013	978	961	1,074	1,078	1,072	1,199	1,197	1,424	1,153
Cash & Equivalents	420	469	413	387	413	466	452	396	387	428	501
Short-Term Investments	4.76	6.29	16	19	13	7.66	7.65	7.64	0.03	0.03	0.05
Accounts Receivable	303	307	297	325	417	369	385	550	537	487	418
Inventories, net	129	144	152	146	150	148	142	117	107	108	90
Other Current Assets	109	86	99	83	82	88	86	128	165	151	144
Plant, Property, & Equipment, net	3,100	2,977	2,964	2,946	2,841	2,813	2,766	3,075	3,063	2,931	2,915
Total Noncurrent Assets	702	710	521	820	729	725	715	776	779	478	318
Noncurrent Deferred & Refundable Income Taxes	259	252	244	239	232	227	228	277	273	180	185
Other Noncurrent Operating Assets	443	458	277	581	497	498	487	499	506	298	134
Total Liabilities & Shareholders' Equity	4,769	4,700	4,463	4,727	4,645	4,616	4,554	5,050	5,039	4,834	4,386
Total Liabilities	3,489	3,426	3,358	3,344	3,372	3,353	3,320	3,604	3,592	3,265	2,944
Total Current Liabilities	559	540	544	529	602	591	572	668	669	680	585
Short-Term Debt	-	-	-	-	0.00	0.00	0.00	-	-	-	0.00
Accounts Payable	290	307	302	287	319	331	317	375	365	352	323
Accrued Expenses	242	190	206	213	220	211	218	259	274	291	223
Current Deferred & Payable Income Tax Liabilities	19	38	31	23	58	42	31	20	17	26	30
Other Current Liabilities	7.80	6.04	5.24	5.50	5.25	5.75	5.86	13	14	11	9.47
Total Noncurrent Liabilities	2,930	2,886	2,814	2,816	2,769	2,762	2,748	2,937	2,923	2,585	2,359
Long-Term Debt	2,586	2,562	2,503	2,501	2,512	2,514	2,503	2,685	2,673	2,348	2,119
Noncurrent Deferred & Payable Income Tax Liabilities	2.28	2.58	1.77	1.81	1.43	1.56	1.91	4.29	5.26	3.68	5.27
Other Noncurrent Operating Liabilities	342	321	308	313	256	246	243	247	244	233	235
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	683	691	514	834	751	761	774	796	806	629	489
Total Equity & Noncontrolling Interests	596	582	592	548	523	502	461	650	640	939	952
Total Preferred & Common Equity	439	403	403	348	286	250	191	343	308	580	569
Total Common Equity	439	403	403	348	286	250	191	343	308	580	569
Common Stock	3,533	3,534	3,538	3,536	3,541	3,545	3,549	3,735	3,740	3,746	3,754
Retained Earnings	-1,766	-1,804	-1,809	-1,862	-1,928	-1,967	-2,031	-2,066	-2,105	-1,839	-1,858
Treasury Stock	-1,316	-1,316	-1,316	-1,316	-1,316	-1,316	-1,316	-1,316	-1,316	-1,316	-1,316
Accumulated Other Comprehensive Income / (Loss)	-12	-11	-10	-10	-11	-11	-11	-11	-11	-11	-11
Noncontrolling Interest	157	180	189	200	236	251	269	307	332	359	383

This table displays calculated financial ratios and metrics derived from Nabors Industries' 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	-44.26%	-47.06%	27.84%	19.24%	-0.47%	-29.83%	-5.45%	32.18%	14.28%	-2.65%	8.20%
EBITDA Growth	2.13%	-157.83%	191.60%	34.17%	30.86%	-24.71%	3.24%	7.38%	83.18%	-21.96%	95.89%
EBIT Growth	30.27%	-179.00%	51.53%	12.38%	22.48%	-26.46%	36.59%	22.40%	152.56%	-124.04%	1,831.73%
NOPAT Growth	19.83%	-146.28%	50.96%	16.23%	23.79%	-38.08%	36.59%	22.40%	129.02%	-143.54%	1,823.27%
Net Income Growth	44.37%	-176.56%	47.49%	-13.33%	-11.06%	-12.10%	28.73%	43.49%	116.24%	-276.31%	525.55%
EPS Growth	43.42%	-182.17%	47.80%	-13.33%	-11.06%	-12.62%	35.48%	47.09%	86.45%	-307.47%	177.74%
Operating Cash Flow Growth	-65.06%	-37.90%	-88.20%	419.11%	110.13%	-48.91%	22.59%	16.87%	27.30%	-8.85%	19.23%
Free Cash Flow Firm Growth	350.74%	-108.02%	-779.21%	126.82%	239.76%	30.20%	-66.09%	-31.80%	-100.79%	1,154.69%	4,239.82%
Invested Capital Growth	-15.57%	-10.13%	4.75%	-7.69%	-14.31%	-22.11%	-12.10%	-9.96%	1.56%	-1.13%	-9.74%
Revenue Q/Q Growth	-22.21%	-7.15%	7.06%	2.62%	-2.31%	-11.20%	5.21%	9.18%	-1.02%	0.03%	2.11%
EBITDA Q/Q Growth	844.01%	-125.13%	750.86%	5.31%	17.38%	47.46%	-31.93%	-27.31%	-4.82%	-27.89%	4.05%
EBIT Q/Q Growth	56.06%	-16.39%	30.40%	0.97%	16.64%	22.16%	-84.16%	-174.44%	-20.98%	-115.50%	8.49%
NOPAT Q/Q Growth	52.05%	-14.66%	44.97%	4.60%	17.76%	27.32%	-84.16%	-174.44%	286.73%	97.95%	15.36%
Net Income Q/Q Growth	66.17%	-20.01%	28.86%	-8.97%	-21.17%	19.15%	-1.00%	14.26%	512.19%	-71.65%	15.36%
EPS Q/Q Growth	65.42%	-20.93%	30.66%	-8.97%	-21.17%	14.04%	-6.02%	5.77%	40.71%	-19.50%	80.39%
Operating Cash Flow Q/Q Growth	-52.72%	-18.96%	-31.06%	85.33%	0.72%	-30.28%	0.10%	24.22%	-2.75%	-5.37%	16.25%
Free Cash Flow Firm Q/Q Growth	-24.29%	-16.23%	-29.01%	184.53%	86.36%	4.70%	-69.66%	902.48%	97.63%	101.87%	508.44%
Invested Capital Q/Q Growth	-3.36%	-5.03%	2.11%	-3.93%	-8.51%	-8.83%	4.09%	-4.04%	-3.60%	1.10%	-14.23%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	37.42%	32.98%	33.00%	35.34%	36.61%	37.58%	36.26%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	14.53%	-15.88%	11.38%	12.80%	16.83%	18.06%	19.72%	16.02%	25.68%	20.59%	37.27%
Operating Margin	-12.38%	-57.58%	-22.09%	-15.52%	-11.88%	-23.38%	-15.68%	-9.21%	4.23%	-1.05%	16.73%
EBIT Margin	-11.34%	-59.79%	-22.67%	-16.66%	-12.97%	-23.38%	-15.68%	-9.21%	4.23%	-1.05%	16.73%
Profit (Net Income) Margin	-9.82%	-51.33%	-21.08%	-20.04%	-22.36%	-35.72%	-26.93%	-11.51%	1.64%	-2.96%	11.66%
Tax Burden Percent	87.08%	85.94%	93.20%	118.11%	115.55%	108.12%	111.39%	125.05%	38.65%	283.46%	69.66%
Interest Burden Percent	99.46%	99.90%	99.79%	101.87%	149.16%	141.31%	154.16%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	61.35%	0.00%	30.34%
Return on Invested Capital (ROIC)	-4.18%	-11.85%	-5.99%	-5.10%	-4.36%	-7.34%	-5.66%	-4.94%	1.50%	-0.65%	11.88%
ROIC Less NNEP Spread (ROIC-NNEP)	-5.54%	-19.09%	-10.21%	-13.46%	-18.68%	-22.80%	-19.24%	-11.15%	1.50%	-3.82%	11.88%
Return on Net Nonoperating Assets (RNNOA)	-3.90%	-15.43%	-10.91%	-14.35%	-19.81%	-29.20%	-29.49%	-18.61%	2.50%	-6.42%	16.45%
Return on Equity (ROE)	-8.08%	-27.28%	-16.90%	-19.46%	-24.17%	-36.54%	-35.15%	-23.55%	4.00%	-7.07%	28.32%
Cash Return on Invested Capital (CROIC)	12.70%	-1.17%	-10.63%	2.90%	11.05%	17.52%	7.22%	5.54%	-0.05%	0.48%	22.11%
Operating Return on Assets (OROA)	-4.02%	-13.53%	-7.01%	-6.27%	-5.40%	-8.14%	-5.74%	-4.79%	2.58%	-0.63%	11.57%
Return on Assets (ROA)	-3.48%	-11.62%	-6.52%	-7.54%	-9.31%	-12.44%	-9.86%	-5.99%	1.00%	-1.80%	8.06%
Return on Common Equity (ROCE)	-8.06%	-27.21%	-16.27%	-17.34%	-20.11%	-27.43%	-19.79%	-8.66%	1.11%	-1.31%	7.77%
Return on Equity Simple (ROE_SIMPLE)	-8.69%	-31.71%	-18.57%	-22.69%	-34.32%	-66.25%	-92.05%	-83.27%	15.28%	-65.18%	0.00%
Net Operating Profit after Tax (NOPAT)	-328	-809	-396	-332	-253	-350	-222	-172	50	-22	374
NOPAT Margin	-8.66%	-40.31%	-15.46%	-10.86%	-8.32%	-16.37%	-10.98%	-6.44%	1.64%	-0.73%	11.66%
Net Nonoperating Expense Percent (NNEP)	1.35%	7.24%	4.22%	8.35%	14.32%	15.46%	13.58%	6.21%	0.00%	3.17%	0.00%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-5.59%	1.35%	-0.74%	10.85%
Cost of Revenue to Revenue	62.58%	67.02%	67.00%	64.66%	63.39%	62.42%	63.74%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	8.56%	11.35%	9.80%	8.69%	8.50%	9.53%	10.58%	8.56%	8.01%	8.40%	9.48%
R&D to Revenue	1.09%	1.67%	1.99%	1.84%	1.65%	1.57%	1.74%	1.87%	1.85%	1.92%	1.65%
Operating Expenses to Revenue	49.80%	90.57%	55.09%	50.86%	48.49%	60.96%	51.94%	109.21%	95.77%	101.05%	83.27%
Earnings before Interest and Taxes (EBIT)	-430	-1,199	-581	-509	-395	-499	-317	-246	129	-31	538
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	551	-319	292	391	512	386	398	428	783	611	1,197
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.57	1.27	0.61	0.25	0.52	0.37	1.13	3.95	2.37	4.54	1.45
Price to Tangible Book Value (P/TBV)	0.59	1.34	0.65	0.27	0.52	0.37	1.13	3.95	2.37	4.54	1.45
Price to Revenue (P/Rev)	0.65	2.06	0.70	0.23	0.34	0.20	0.33	0.55	0.25	0.21	0.27
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	2.98
Dividend Yield	3.24%	1.65%	3.83%	12.48%	1.42%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	33.57%
Enterprise Value to Invested Capital (EV/IC)	0.76	1.15	0.84	0.68	0.82	0.83	1.02	1.33	1.13	1.14	1.09
Enterprise Value to Revenue (EV/Rev)	1.43	3.70	2.22	1.39	1.44	1.62	1.85	1.64	1.25	1.28	1.01
Enterprise Value to EBITDA (EV/EBITDA)	9.86	0.00	19.48	10.85	8.58	8.97	9.40	10.27	4.85	6.20	2.72
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	29.41	0.00	6.05
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	76.11	0.00	8.69
Enterprise Value to Operating Cash Flow (EV/OCF)	6.34	13.95	90.56	13.04	6.42	9.89	8.73	8.76	5.95	6.52	4.69
Enterprise Value to Free Cash Flow (EV/FCFF)	5.44	0.00	0.00	22.52	6.86	4.15	13.23	22.75	0.00	236.04	4.67
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.85	1.10	1.28	1.14	1.35	1.75	2.34	2.09	2.45	2.08	1.74
Long-Term Debt to Equity	0.85	1.10	1.28	1.14	1.35	1.75	2.34	2.09	1.96	2.08	1.47
Financial Leverage	0.70	0.81	1.07	1.07	1.06	1.28	1.53	1.67	1.66	1.68	1.39
Leverage Ratio	2.32	2.35	2.59	2.58	2.60	2.94	3.56	3.93	4.01	3.93	3.52
Compound Leverage Factor	2.31	2.35	2.59	2.63	3.87	4.15	5.50	3.93	4.01	3.93	3.52
Debt to Total Capital	46.03%	52.37%	56.17%	53.20%	57.38%	63.59%	70.06%	67.61%	71.03%	67.50%	63.44%
Short-Term Debt to Total Capital	0.08%	0.00%	0.00%	0.01%	0.00%	0.00%	0.00%	0.00%	14.24%	0.00%	9.60%
Long-Term Debt to Total Capital	45.95%	52.37%	56.17%	53.19%	57.38%	63.59%	70.06%	67.61%	56.79%	67.50%	53.84%
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	0.14%	0.11%	3.22%	6.74%	8.48%	11.74%	17.25%	22.55%	21.58%	28.87%	21.54%
Common Equity to Total Capital	53.83%	47.52%	40.61%	40.06%	34.13%	24.66%	12.68%	9.83%	7.39%	3.64%	15.02%
Debt to EBITDA	6.65	-11.24	13.81	9.16	6.51	7.70	8.20	5.94	4.01	4.10	2.08
Net Debt to EBITDA	5.40	-10.31	12.55	7.93	5.62	6.45	5.71	4.88	2.64	3.45	1.30
Long-Term Debt to EBITDA	6.64	-11.23	13.81	9.16	6.51	7.70	8.20	5.94	3.21	4.10	1.77
Debt to NOPAT	-11.15	-4.43	-10.16	-10.80	-13.17	-8.49	-14.72	-14.76	62.94	-115.30	6.66
Net Debt to NOPAT	-9.05	-4.06	-9.24	-9.35	-11.38	-7.12	-10.25	-12.13	41.50	-97.01	4.15
Long-Term Debt to NOPAT	-11.13	-4.43	-10.16	-10.80	-13.17	-8.49	-14.72	-14.76	50.33	-115.30	5.65
Altman Z-Score	1.05	0.66	0.59	0.50	0.48	0.05	0.10	0.20	0.37	0.21	0.80
Noncontrolling Interest Sharing Ratio	0.23%	0.25%	3.73%	10.88%	16.82%	24.93%	43.69%	63.23%	72.14%	81.44%	72.55%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.47	1.41	1.57	1.92	1.90	2.20	2.86	1.68	1.36	1.75	1.56
Quick Ratio	1.05	0.98	1.16	1.49	1.38	1.64	2.44	1.31	1.17	1.37	1.34
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	997	-80	-703	189	641	834	283	193	-1.52	16	697
Operating Cash Flow to CapEx	98.78%	134.50%	10.92%	70.98%	160.04%	208.04%	390.72%	144.52%	121.10%	105.25%	96.83%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	3.14	4.04	1.65	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	3.35	1.70	2.50	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	1.26	0.88	1.86	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.35	0.23	0.31	0.38	0.42	0.35	0.37	0.52	0.61	0.61	0.69
Accounts Receivable Turnover	3.29	3.10	4.25	4.20	5.03	5.23	6.21	8.68	9.03	8.07	8.24
Inventory Turnover	12.35	10.44	12.73	11.91	11.29	7.91	8.97	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.49	0.30	0.41	0.53	0.59	0.48	0.55	0.84	1.03	1.04	1.12
Accounts Payable Turnover	4.51	5.01	5.47	5.23	5.61	5.17	5.42	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	110.88	117.64	85.89	86.83	72.52	69.74	58.80	42.05	40.41	45.23	44.30
Days Inventory Outstanding (DIO)	29.54	34.95	28.67	30.64	32.34	46.13	40.71	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	80.96	72.84	66.71	69.81	65.08	70.65	67.31	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	59.46	79.74	47.85	47.66	39.79	45.21	32.19	42.05	40.41	45.23	44.30
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	7,190	6,462	6,768	6,248	5,354	4,170	3,666	3,301	3,352	3,314	2,992
Invested Capital Turnover	0.48	0.29	0.39	0.47	0.52	0.45	0.52	0.77	0.92	0.89	1.02
Increase / (Decrease) in Invested Capital	-1,326	-729	307	-521	-894	-1,184	-505	-365	51	-38	-323
Enterprise Value (EV)	5,429	7,422	5,683	4,247	4,396	3,460	3,743	4,390	3,798	3,792	3,255
Market Capitalization	2,446	4,130	1,789	688	1,023	425	668	1,458	773	612	854
Book Value per Share	$12.96	$11.46	$10.19	$7.55	$5.46	$157.85	$71.67	$39.19	$34.51	$12.61	$37.57
Tangible Book Value per Share	$12.45	$10.87	$9.58	$7.03	$5.38	$157.85	$71.67	$39.19	$34.51	$12.61	$37.57
Total Capital	7,956	6,833	7,171	6,742	5,809	4,668	4,657	3,753	4,422	3,712	3,932
Total Debt	3,662	3,579	4,028	3,586	3,333	2,969	3,263	2,538	3,141	2,505	2,495
Total Long-Term Debt	3,655	3,578	4,028	3,586	3,333	2,969	3,263	2,538	2,512	2,505	2,117
Net Debt	2,972	3,283	3,663	3,105	2,881	2,487	2,271	2,085	2,071	2,108	1,554
Capital Expenditures (CapEx)	867	395	574	459	428	168	110	347	527	552	716
Debt-free, Cash-free Net Working Capital (DFCFNWC)	201	39	163	280	140	134	-15	-48	-8.86	30	-4.67
Debt-free Net Working Capital (DFNWC)	476	334	528	762	592	616	977	404	1,061	428	936
Net Working Capital (NWC)	469	334	528	761	592	616	977	404	432	428	559
Net Nonoperating Expense (NNE)	44	221	144	281	427	413	322	135	0.00	66	0.00
Net Nonoperating Obligations (NNO)	2,896	3,207	3,626	3,092	2,878	2,470	2,271	2,085	2,071	2,108	1,554
Total Depreciation and Amortization (D&A)	981	881	873	901	907	885	715	673	654	642	660
Debt-free, Cash-free Net Working Capital to Revenue	5.31%	1.94%	6.34%	9.17%	4.59%	6.29%	-0.74%	-1.80%	-0.29%	1.02%	-0.15%
Debt-free Net Working Capital to Revenue	12.56%	16.66%	20.59%	24.92%	19.46%	28.85%	48.37%	15.15%	34.80%	14.40%	29.14%
Net Working Capital to Revenue	12.39%	16.65%	20.59%	24.90%	19.46%	28.85%	48.37%	15.15%	14.15%	14.40%	17.39%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($64.50)	($182.00)	($95.00)	($99.50)	($105.50)	($118.69)	($76.58)	($40.52)	($5.49)	($22.37)	$18.75
Adjusted Weighted Average Basic Shares Outstanding	5.66M	5.53M	5.61M	6.69M	7.03M	7.06M	7.61M	8.90M	9.16M	9.20M	13.19M
Adjusted Diluted Earnings per Share	($64.50)	($182.00)	($95.00)	($99.50)	($105.50)	($118.69)	($76.58)	($40.52)	($5.49)	($22.37)	$17.39
Adjusted Weighted Average Diluted Shares Outstanding	5.66M	5.53M	5.61M	6.69M	7.03M	7.06M	7.61M	8.90M	9.16M	9.20M	14.42M
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	5.63M	5.71M	6.31M	7.18M	7.34M	7.36M	8.57M	9.46M	10.63M	10.76M	15.83M
Normalized Net Operating Profit after Tax (NOPAT)	-70	-460	-365	-235	-42	-222	-175	-172	90	-22	374
Normalized NOPAT Margin	-1.85%	-22.91%	-14.25%	-7.68%	-1.37%	-10.39%	-8.66%	-6.44%	2.96%	-0.73%	11.66%
Pre Tax Income Margin	-11.28%	-59.73%	-22.62%	-16.97%	-19.35%	-33.04%	-24.17%	-9.21%	4.23%	-1.05%	16.73%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	-1.93	-2.42	-1.85	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	-1.24	-1.69	-1.29	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	-4.03	-3.24	-2.49	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	-3.33	-2.51	-1.93	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	-18.63%	0.00%	-14.02%	-0.89%	-7.96%	-3.62%	-2.06%	-1.16%	4.94%	-1.18%	93.29%
Augmented Payout Ratio	-45.38%	-0.16%	-17.36%	-0.89%	-7.96%	-3.62%	-12.82%	-4.52%	4.94%	-1.18%	93.29%

This table displays calculated financial ratios and metrics derived from Nabors Industries' 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	-	-	-	-	-	-	10,764,937.00	14,538,284.00	14,575,667.00	-	15,834,469.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	10,764,937.00	14,538,284.00	14,575,667.00	-	15,834,469.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	3.06	-2.13	18.81	-	-0.96
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	6.47%	-4.09%	-5.72%	-4.60%	-0.11%	0.11%	-0.15%	12.91%	11.06%	9.00%	5.88%
EBITDA Growth	-36.15%	4,159.04%	-26.13%	-19.39%	-2.99%	-36.14%	37.11%	20.17%	320.72%	33.12%	-21.78%
EBIT Growth	-140.07%	86.69%	-55.56%	-94.08%	-10.80%	-208.61%	925.08%	726.61%	1,928.71%	238.52%	-70.71%
NOPAT Growth	50.38%	96.83%	-178.22%	-180.27%	-10.80%	-1,193.85%	735.18%	83.08%	1,981.21%	237.63%	-92.55%
Net Income Growth	-600.38%	106.63%	-114.74%	-180.27%	-5.90%	-952.19%	735.18%	83.08%	1,014.15%	151.70%	-92.55%
EPS Growth	-247.78%	55.44%	-210.46%	-1,283.87%	-9.58%	-120.46%	148.02%	36.83%	345.63%	116.02%	-170.64%
Operating Cash Flow Growth	-3.98%	-9.03%	-30.39%	7.83%	7.64%	-18.14%	-18.19%	-16.43%	44.75%	65.08%	29.18%
Free Cash Flow Firm Growth	-198.66%	-122.14%	-125.14%	-145.45%	452.03%	82.18%	-3,348.04%	-214.60%	-49.45%	1,234.93%	317.09%
Invested Capital Growth	1.09%	1.56%	0.00%	3.90%	-5.72%	-1.13%	10.90%	12.97%	6.41%	-9.74%	-17.90%
Revenue Q/Q Growth	-4.45%	-0.85%	0.82%	-0.12%	0.04%	-0.63%	0.56%	12.94%	-1.60%	-2.47%	-2.32%
EBITDA Q/Q Growth	-30.22%	-0.86%	-23.13%	-24.13%	-16.03%	-34.74%	153.32%	-13.44%	194.01%	-67.84%	-4.42%
EBIT Q/Q Growth	-148.57%	-6.31%	-51.83%	-95.60%	-1,009.66%	-196.13%	206.13%	-71.09%	1,912.44%	-94.18%	-13.45%
NOPAT Q/Q Growth	-189.41%	74.64%	-468.81%	82.25%	-23.40%	-196.13%	220.09%	-103.86%	13,817.28%	-94.38%	-74.92%
Net Income Q/Q Growth	-292.50%	112.34%	-333.39%	-44.73%	-153.95%	0.66%	273.96%	-103.86%	13,817.28%	-94.38%	-74.92%
EPS Q/Q Growth	-1,919.35%	51.60%	-49.84%	5.51%	-59.91%	2.62%	132.63%	-224.31%	721.77%	-93.65%	-243.93%
Operating Cash Flow Q/Q Growth	-20.80%	36.35%	-41.05%	69.40%	-20.94%	3.69%	-41.09%	73.03%	36.93%	18.26%	-53.90%
Free Cash Flow Firm Q/Q Growth	-117.25%	-6.06%	-132.74%	-86.63%	233.58%	-105.37%	-3,048.59%	-39.31%	121.47%	267.33%	97.63%
Invested Capital Q/Q Growth	9.35%	-3.60%	0.24%	-1.68%	-0.77%	1.10%	12.44%	0.15%	-6.54%	-14.23%	2.27%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	39.83%	285.08%	41.25%	40.75%	41.92%	277.22%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	19.18%	19.18%	29.22%	22.20%	18.63%	12.24%	30.82%	23.62%	70.58%	23.27%	22.77%
Operating Margin	-2.79%	-2.99%	7.72%	0.34%	-3.09%	-9.21%	9.72%	2.49%	50.88%	3.03%	2.69%
EBIT Margin	-2.79%	-2.99%	7.72%	0.34%	-3.09%	-9.21%	9.72%	2.49%	50.88%	3.03%	2.69%
Profit (Net Income) Margin	-4.20%	0.52%	-1.21%	-1.75%	-4.45%	-4.45%	7.70%	-0.26%	36.64%	2.11%	0.54%
Tax Burden Percent	150.71%	16.70%	-127.83%	-516.00%	144.05%	186.35%	79.21%	-10.56%	72.01%	69.55%	20.16%
Interest Burden Percent	100.00%	-104.81%	12.26%	100.00%	100.00%	25.93%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	0.00%	83.30%	227.83%	616.00%	0.00%	0.00%	20.79%	110.56%	27.99%	30.45%	79.84%
Return on Invested Capital (ROIC)	-1.74%	-0.46%	-8.82%	-1.61%	-1.90%	-5.74%	6.45%	-0.23%	34.07%	2.15%	0.52%
ROIC Less NNEP Spread (ROIC-NNEP)	-2.52%	-0.09%	-5.74%	-1.61%	-2.72%	-5.04%	6.45%	-0.23%	34.07%	2.15%	0.52%
Return on Net Nonoperating Assets (RNNOA)	-4.04%	-0.16%	-9.40%	-2.79%	-4.31%	-8.46%	10.36%	-0.37%	48.19%	2.98%	0.70%
Return on Equity (ROE)	-5.77%	-0.61%	-18.22%	-4.40%	-6.21%	-14.20%	16.81%	-0.59%	82.26%	5.13%	1.22%
Cash Return on Invested Capital (CROIC)	-1.86%	-0.05%	-2.79%	-29.68%	-25.44%	0.48%	-10.96%	-12.49%	3.39%	22.11%	29.14%
Operating Return on Assets (OROA)	-1.81%	-1.82%	4.96%	0.22%	-1.98%	-5.59%	5.95%	1.58%	34.10%	2.10%	1.86%
Return on Assets (ROA)	-2.73%	0.32%	-0.78%	-1.15%	-2.85%	-2.70%	4.71%	-0.17%	24.56%	1.46%	0.37%
Return on Common Equity (ROCE)	-1.71%	-0.17%	-4.93%	-1.21%	-1.28%	-2.64%	3.89%	-0.12%	22.64%	1.41%	0.39%
Return on Equity Simple (ROE_SIMPLE)	-3.48%	0.00%	-7.04%	-19.74%	-26.79%	0.00%	-6.36%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-15	-3.68	-73	-13	-16	-48	57	-2.21	302	17	4.26
NOPAT Margin	-1.95%	-0.50%	-9.87%	-1.75%	-2.16%	-6.45%	7.70%	-0.26%	36.64%	2.11%	0.54%
Net Nonoperating Expense Percent (NNEP)	0.79%	-0.36%	-3.09%	0.00%	0.82%	-0.71%	0.00%	0.00%	0.00%	0.00%	0.00%
Return On Investment Capital (ROIC_SIMPLE)	-	-0.10%	-	-	-	-1.63%	1.71%	-0.07%	9.20%	0.49%	0.14%
Cost of Revenue to Revenue	60.17%	-185.08%	58.75%	59.25%	58.08%	-177.22%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	8.36%	7.73%	8.30%	8.37%	8.61%	8.32%	9.22%	9.86%	9.34%	9.47%	9.12%
R&D to Revenue	1.88%	1.89%	1.86%	1.93%	1.94%	1.95%	1.89%	1.52%	1.57%	1.66%	1.72%
Operating Expenses to Revenue	42.62%	288.07%	33.53%	40.41%	45.01%	286.43%	90.28%	97.51%	49.12%	96.97%	97.31%
Earnings before Interest and Taxes (EBIT)	-21	-22	57	2.53	-23	-68	72	21	420	24	21
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	143	142	217	165	138	90	229	198	583	187	179
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.38	2.37	2.85	3.04	3.61	4.54	1.31	1.32	1.03	1.45	2.40
Price to Tangible Book Value (P/TBV)	3.38	2.37	2.85	3.04	3.61	4.54	1.31	1.32	1.03	1.45	2.40
Price to Revenue (P/Rev)	0.38	0.25	0.27	0.26	0.23	0.21	0.15	0.13	0.19	0.27	0.42
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	2.68	2.98	5.71
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%	0.00%	0.00%	0.00%	0.00%	0.00%	37.37%	33.57%	17.50%
Enterprise Value to Invested Capital (EV/IC)	1.24	1.13	1.16	1.15	1.15	1.14	1.03	1.03	1.00	1.09	1.26
Enterprise Value to Revenue (EV/Rev)	1.40	1.25	1.29	1.28	1.27	1.28	1.29	1.25	1.11	1.01	1.18
Enterprise Value to EBITDA (EV/EBITDA)	5.23	4.85	4.36	4.48	4.46	6.20	5.69	5.42	3.05	2.72	3.36
Enterprise Value to EBIT (EV/EBIT)	26.34	29.41	16.03	18.84	18.87	0.00	112.39	73.05	7.07	6.05	7.92
Enterprise Value to NOPAT (EV/NOPAT)	0.00	76.11	0.00	0.00	0.00	0.00	0.00	0.00	10.80	8.69	11.98
Enterprise Value to Operating Cash Flow (EV/OCF)	6.56	5.95	6.58	6.31	6.15	6.52	6.82	7.20	5.88	4.69	5.36
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	236.04	0.00	0.00	30.58	4.67	3.90
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.81	2.45	1.97	1.99	2.03	2.08	1.86	1.85	1.50	1.74	1.47
Long-Term Debt to Equity	1.81	1.96	1.97	1.99	2.03	2.08	1.86	1.85	1.50	1.47	1.47
Financial Leverage	1.60	1.66	1.64	1.74	1.58	1.68	1.61	1.60	1.41	1.39	1.35
Leverage Ratio	3.57	4.01	3.67	3.83	3.55	3.93	3.57	3.56	3.35	3.52	3.27
Compound Leverage Factor	3.57	-4.20	0.45	3.83	3.55	1.02	3.57	3.56	3.35	3.52	3.27
Debt to Total Capital	64.41%	71.03%	66.36%	66.56%	66.98%	67.50%	65.01%	64.88%	59.96%	63.44%	59.51%
Short-Term Debt to Total Capital	0.00%	14.24%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	9.60%	0.00%
Long-Term Debt to Total Capital	64.41%	56.79%	66.36%	66.56%	66.98%	67.50%	65.01%	64.88%	59.96%	53.84%	59.51%
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	26.63%	21.58%	26.07%	26.81%	27.90%	28.87%	26.70%	27.64%	25.24%	21.54%	24.51%
Common Equity to Total Capital	8.97%	7.39%	7.56%	6.63%	5.12%	3.64%	8.30%	7.48%	14.80%	15.02%	15.98%
Debt to EBITDA	3.04	4.01	2.82	2.95	2.95	4.10	3.99	3.78	2.04	2.08	1.85
Net Debt to EBITDA	2.55	2.64	2.34	2.40	2.41	3.45	3.39	3.24	1.67	1.30	1.41
Long-Term Debt to EBITDA	3.04	3.21	2.82	2.95	2.95	4.10	3.99	3.78	2.04	1.77	1.85
Debt to NOPAT	-93.59	62.94	-26.76	-3.00	-2.37	-115.30	-123.14	-243.38	7.23	6.66	6.59
Net Debt to NOPAT	-78.38	41.50	-22.23	-2.43	-1.93	-97.01	-104.61	-208.11	5.92	4.15	5.03
Long-Term Debt to NOPAT	-93.59	50.33	-26.76	-3.00	-2.37	-115.30	-123.14	-243.38	7.23	5.65	6.59
Altman Z-Score	0.41	0.28	0.37	0.31	0.27	0.18	0.26	0.23	0.70	0.44	0.60
Noncontrolling Interest Sharing Ratio	70.41%	72.14%	72.95%	72.43%	79.38%	81.44%	76.86%	79.39%	72.48%	72.55%	68.42%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.82	1.36	1.78	1.82	1.88	1.75	1.80	1.79	2.09	1.56	1.97
Quick Ratio	1.38	1.17	1.40	1.43	1.48	1.37	1.43	1.38	1.71	1.34	1.57
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-52	-55	-73	-137	183	-9.82	-309	-431	92	340	671
Operating Cash Flow to CapEx	96.28%	140.26%	108.19%	145.32%	113.92%	73.64%	55.12%	107.02%	102.78%	151.70%	68.71%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	-1.46	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	2.13	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	0.16	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.65	0.61	0.64	0.65	0.64	0.61	0.61	0.63	0.67	0.69	0.69
Accounts Receivable Turnover	9.81	9.03	8.30	8.92	8.36	8.07	6.14	6.77	7.22	8.24	6.73
Inventory Turnover	13.24	0.00	12.01	11.67	12.04	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	1.02	1.03	1.03	1.03	1.04	1.04	1.00	1.04	1.10	1.12	1.09
Accounts Payable Turnover	6.31	0.00	5.64	5.53	5.74	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	37.19	40.41	43.97	40.94	43.64	45.23	59.44	53.95	50.57	44.30	54.22
Days Inventory Outstanding (DIO)	27.57	0.00	30.40	31.29	30.33	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	57.81	0.00	64.72	66.04	63.57	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	6.95	40.41	9.64	6.18	10.40	45.23	59.44	53.95	50.57	44.30	54.22
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	3,477	3,352	3,360	3,304	3,278	3,314	3,726	3,732	3,488	2,992	3,059
Invested Capital Turnover	0.89	0.92	0.89	0.92	0.88	0.89	0.84	0.87	0.93	1.02	0.96
Increase / (Decrease) in Invested Capital	37	51	-0.03	124	-199	-38	366	429	210	-323	-667
Enterprise Value (EV)	4,304	3,798	3,889	3,815	3,777	3,792	3,833	3,832	3,504	3,255	3,853
Market Capitalization	1,175	773	815	762	690	612	449	407	596	854	1,363
Book Value per Share	$36.48	$34.51	$31.21	$23.40	$17.87	$12.61	$31.83	$21.18	$39.78	$37.57	$35.93
Tangible Book Value per Share	$36.48	$34.51	$31.21	$23.40	$17.87	$12.61	$31.83	$21.18	$39.78	$37.57	$35.93
Total Capital	3,884	4,422	3,786	3,777	3,737	3,712	4,131	4,119	3,916	3,932	3,560
Total Debt	2,501	3,141	2,512	2,514	2,503	2,505	2,685	2,673	2,348	2,495	2,119
Total Long-Term Debt	2,501	2,512	2,512	2,514	2,503	2,505	2,685	2,673	2,348	2,117	2,119
Net Debt	2,095	2,071	2,087	2,041	2,044	2,108	2,281	2,285	1,920	1,554	1,618
Capital Expenditures (CapEx)	139	130	99	125	126	202	159	142	202	162	165
Debt-free, Cash-free Net Working Capital (DFCFNWC)	25	-8.86	46	13	41	30	127	140	316	-4.67	67
Debt-free Net Working Capital (DFNWC)	432	1,061	472	487	501	428	531	527	744	936	567
Net Working Capital (NWC)	432	432	472	487	501	428	531	527	744	559	567
Net Nonoperating Expense (NNE)	17	-7.54	-64	0.00	17	-15	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	2,095	2,071	2,087	2,041	2,044	2,108	2,281	2,285	1,920	1,554	1,618
Total Depreciation and Amortization (D&A)	163	164	160	162	161	158	157	177	163	163	158
Debt-free, Cash-free Net Working Capital to Revenue	0.82%	-0.29%	1.54%	0.45%	1.40%	1.02%	4.28%	4.57%	10.05%	-0.15%	2.04%
Debt-free Net Working Capital to Revenue	14.02%	34.80%	15.71%	16.40%	16.87%	14.40%	17.90%	17.22%	23.66%	29.14%	17.43%
Net Working Capital to Revenue	14.02%	14.15%	15.71%	16.40%	16.87%	14.40%	17.90%	17.22%	23.66%	17.39%	17.43%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($6.26)	($3.31)	($4.54)	($4.29)	($6.86)	($6.68)	$2.35	($2.71)	$18.25	$0.86	($1.54)
Adjusted Weighted Average Basic Shares Outstanding	9.15M	9.16M	9.18M	9.21M	9.21M	9.20M	10.46M	14.08M	14.10M	13.19M	14.21M
Adjusted Diluted Earnings per Share	($6.26)	($3.03)	($4.54)	($4.29)	($6.86)	($6.68)	$2.18	($2.71)	$16.85	$1.07	($1.54)
Adjusted Weighted Average Diluted Shares Outstanding	9.15M	9.16M	9.18M	9.21M	9.21M	9.20M	11.67M	14.08M	15.32M	14.42M	14.21M
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	9.47M	10.63M	10.70M	10.71M	10.71M	10.76M	14.54M	14.58M	15.72M	15.83M	15.96M
Normalized Net Operating Profit after Tax (NOPAT)	-15	-15	40	1.77	-16	-48	57	15	302	17	15
Normalized NOPAT Margin	-1.95%	-2.09%	5.40%	0.24%	-2.16%	-6.45%	7.70%	1.74%	36.64%	2.11%	1.88%
Pre Tax Income Margin	-2.79%	3.13%	0.95%	0.34%	-3.09%	-2.39%	9.72%	2.49%	50.88%	3.03%	2.69%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	1.14	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	-1.46	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	-0.83	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	-3.42	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	-20.34%	4.94%	-11.69%	-2.10%	-2.02%	-1.18%	-4.36%	-63.08%	59.87%	93.29%	0.00%
Augmented Payout Ratio	-20.34%	4.94%	-11.69%	-2.10%	-2.02%	-1.18%	-4.36%	-63.08%	59.87%	93.29%	0.00%

Financials Breakdown Chart

Key Financial Trends

Nabors Industries (NYSE: NBR) — four-year quarterly snapshot. Below is a concise, investor-focused read on how the company has performed across revenue, earnings, cash flow, and leverage over the last four years, using quarterly statements provided.

Q4 2025 revenue reached about $805.1 million, higher than the 2024 quarterly range (~$738–$769 million). This suggests stronger activity levels in late 2025.
Operating cash flow from continuing operations rose across 2025, finishing Q4 at about $245.8 million, up from roughly $87.7M in Q1 2025 and $151.8M (Q2) and $207.9M (Q3).
Q3 2025 delivered a sizable quarterly net income from continuing operations of about $302.5 million, highlighting a peak profitability quarter within the period.
Long-term debt declined in Q3 2025 to about $2.35 billion from roughly $2.67 billion in Q2 2025, a meaningful step toward lower leverage during the year.
Q4 2025 net change in cash and equivalents was +$359.0 million, contributing to stronger liquidity headroom.
Q4 2025 total operating income was positive at about $24.4 million, indicating a profitable albeit modest operating contribution in the quarter.
Q4 2025 trailing free cash flow (operating cash flow minus capital expenditures) was roughly $83.8 million, signaling cash generation that could support deleveraging or shareholder value creation.
Capital expenditures ran around $164–$210 million per quarter during the period, indicating ongoing maintenance and capacity investments without a clear uptrend or downtrend yet.
In Q4 2025 Nabors issued about $700 million of debt, a neutral financing action that provides liquidity for growth while affecting future interest costs and leverage.
Earnings have been volatile across quarters, with several periods showing small or negative net income (for example, Q2 2025 net income continuing operations around -$2.2 million), underscoring cyclicality and earnings durability risk.

05/14/26 07:41 PM ETAI Generated. May Contain Errors.

Nabors Industries Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Nabors Industries' financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Nabors Industries' net income appears to be on a downward trend, with a most recent value of $374.43 million in 2025, falling from -$372.29 million in 2015. The previous period was -$87.99 million in 2024. See Nabors Industries' forecast for analyst expectations on what's next for the company.

Nabors Industries' total operating income in 2025 was $537.53 million, based on the following breakdown:

Total Gross Profit: $3.21 billion
Total Operating Expenses: $2.67 billion

Over the last 10 years, Nabors Industries' total revenue changed from $3.79 billion in 2015 to $3.21 billion in 2025, a change of -15.2%.

Nabors Industries' total liabilities were at $3.35 billion at the end of 2025, a 1.6% increase from 2024, and a 36.1% decrease since 2015.

In the past 10 years, Nabors Industries' cash and equivalents has ranged from $254.53 million in 2015 to $1.06 billion in 2023, and is currently $940.71 million as of their latest financial filing in 2025.

Over the last 10 years, Nabors Industries' book value per share changed from 12.96 in 2015 to 37.57 in 2025, a change of 190.0%.

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Financial statements for NYSE:NBR last updated on 5/4/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Nabors Industries (NBR) Financials

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