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Nabors Industries (NBR) Financials

Nabors Industries logo
$84.17 -1.50 (-1.75%)
Closing price 03:59 PM Eastern
Extended Trading
$84.20 +0.04 (+0.04%)
As of 04:04 PM Eastern
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Annual Income Statements for Nabors Industries

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

Quarterly Income Statements for Nabors Industries

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

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 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 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 -17 -34 -32 -56 -54 33 -31 274 10 -15 -22
Consolidated Net Income / (Loss)		 3.86 -9.00 -13 -33 -33 57 -2.21 302 17 4.26 -1.52
Net Income / (Loss) Continuing Operations		 3.86 -9.00 -13 -33 -33 57 -2.21 302 17 4.26 -1.52
Total Pre-Tax Income 		23 7.04 2.53 -23 -18 72 21 420 24 21 15
Total Operating Income		 -22 7.04 2.53 -23 -68 72 21 420 24 21 15
Total Gross Profit		 2,103 744 743 743 2,048 743 839 826 805 786 817
Total Revenue		 738 744 743 743 739 743 839 826 805 786 817
Operating Revenue		 738 744 743 743 739 743 839 826 805 786 817
Total Cost of Revenue		 -1,366 0.00 0.00 0.00 -1,309 0.00 0.00 0.00 - 0.00 0.00
Total Operating Expenses		 2,125 737 740 766 2,116 671 818 405 781 765 802
Selling, General & Admin Expense		 57 62 62 64 61 69 83 77 76 72 71
Research & Development Expense		 14 14 14 14 14 14 13 13 13 14 14
Depreciation Expense		 161 158 160 159 156 155 175 160 159 156 161
Other Operating Expenses / (Income)		 1,893 504 504 529 1,883 433 548 155 532 524 556
Total Other Income / (Expense), net		 45 0.00 0.00 0.00 50 0.00 0.00 0.00 - 0.00 0.00
Income Tax Expense		 19 16 16 10 15 15 23 118 7.44 17 16
Net Income / (Loss) Attributable to Noncontrolling Interest		 21 25 19 23 21 24 29 28 6.65 19 21
Basic Earnings per Share		 ($3.31) ($4.54) ($4.29) ($6.86) ($6.68) $2.35 ($2.71) $18.25 $0.86 ($1.54) ($2.04)
Weighted Average Basic Shares Outstanding		 9.16M 9.18M 9.21M 9.21M 9.20M 10.46M 14.08M 14.10M 13.19M 14.21M 14.27M
Diluted Earnings per Share		 ($3.03) ($4.54) ($4.29) ($6.86) ($6.68) $2.18 ($2.71) $16.85 $1.07 ($1.54) ($2.04)
Weighted Average Diluted Shares Outstanding		 9.16M 9.18M 9.21M 9.21M 9.20M 11.67M 14.08M 15.32M 14.42M 14.21M 14.27M
Weighted Average Basic & Diluted Shares Outstanding		 10.63M 10.70M 10.71M 10.71M 10.76M 14.54M 14.58M 15.72M 15.83M 15.96M 15.96M

Annual Cash Flow Statements for Nabors Industries

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

Quarterly Cash Flow Statements for Nabors Industries

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 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 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 6/30/2026
Net Change in Cash & Equivalents		 567 -640 57 -9.44 -58 10 -5.31 -144 359 -440 9.48
Net Cash From Operating Activities		 182 107 182 144 149 88 152 208 246 113 135
Net Cash From Continuing Operating Activities		 182 107 182 144 149 88 152 208 246 113 135
Net Income / (Loss) Continuing Operations		 3.86 -9.00 -13 -33 -33 57 -2.21 302 17 4.26 -1.52
Consolidated Net Income / (Loss)		 3.86 -9.00 -13 -33 -33 57 -2.21 302 17 4.26 -1.52
Depreciation Expense		 161 158 160 159 156 155 175 160 159 156 161
Amortization Expense		 2.34 2.27 2.26 2.23 2.05 2.14 2.25 2.29 3.76 1.77 1.77
Non-Cash Adjustments To Reconcile Net Income		 13 18 15 41 33 -90 -8.03 -398 -15 7.18 4.52
Changes in Operating Assets and Liabilities, net		 1.07 -61 17 -25 -9.95 -37 -15 141 81 -56 -30
Net Cash From Investing Activities		 -141 -107 -120 -126 -202 -75 -136 167 141 -170 -123
Net Cash From Continuing Investing Activities		 -141 -107 -120 -126 -202 -75 -136 167 141 -170 -123
Purchase of Property, Plant & Equipment		 -134 -105 -127 -128 -208 -165 -179 -210 -162 -165 -126
Purchase of Investments		 -10 -7.54 -0.08 -0.06 -0.04 -0.18 -1.60 -2.55 -0.01 -6.52 -0.47
Other Investing Activities, net		 -1.55 0.04 4.62 0.01 0.01 5.79 7.51 0.00 103 1.97 3.26
Net Cash From Financing Activities		 538 -635 -1.23 -26 -0.03 -1.96 -19 -518 -27 -383 -1.94
Net Cash From Continuing Financing Activities		 538 -635 -1.23 -26 -0.03 -1.96 -19 -518 -27 -383 -1.94
Repayment of Debt		 201 -707 -55 -671 222 -263 -67 -411 -574 -380 0.46
Effect of Exchange Rate Changes		 - -5.91 - -1.25 -4.70 -0.42 -1.78 -0.47 -1.01 -1.05 -1.00

Annual Balance Sheets for Nabors Industries

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

Quarterly Balance Sheets for Nabors Industries

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 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 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 6/30/2026
Total Assets		 4,700 4,463 4,727 4,645 4,616 4,554 5,050 5,039 4,834 4,386 4,420
Total Current Assets		 1,013 978 961 1,074 1,078 1,072 1,199 1,197 1,424 1,153 1,197
Cash & Equivalents		 469 413 387 413 466 452 396 387 428 501 510
Short-Term Investments		 6.29 16 19 13 7.66 7.65 7.64 0.03 0.03 0.05 0.05
Accounts Receivable		 307 297 325 417 369 385 550 537 487 418 443
Inventories, net		 144 152 146 150 148 142 117 107 108 90 88
Other Current Assets		 86 99 83 82 88 86 128 165 151 144 156
Plant, Property, & Equipment, net		 2,977 2,964 2,946 2,841 2,813 2,766 3,075 3,063 2,931 2,915 2,908
Total Noncurrent Assets		 710 521 820 729 725 715 776 779 478 318 315
Noncurrent Deferred & Refundable Income Taxes		 252 244 239 232 227 228 277 273 180 185 182
Other Noncurrent Operating Assets		 458 277 581 497 498 487 499 506 298 134 132
Total Liabilities & Shareholders' Equity		 4,700 4,463 4,727 4,645 4,616 4,554 5,050 5,039 4,834 4,386 4,420
Total Liabilities		 3,426 3,358 3,344 3,372 3,353 3,320 3,604 3,592 3,265 2,944 2,978
Total Current Liabilities		 540 544 529 602 591 572 668 669 680 585 634
Short-Term Debt		 - - - 0.00 0.00 0.00 - - - 0.00 0.00
Accounts Payable		 307 302 287 319 331 317 375 365 352 323 365
Accrued Expenses		 190 206 213 220 211 218 259 274 291 223 236
Current Deferred & Payable Income Tax Liabilities		 38 31 23 58 42 31 20 17 26 30 24
Other Current Liabilities		 6.04 5.24 5.50 5.25 5.75 5.86 13 14 11 9.47 8.26
Total Noncurrent Liabilities		 2,886 2,814 2,816 2,769 2,762 2,748 2,937 2,923 2,585 2,359 2,344
Long-Term Debt		 2,562 2,503 2,501 2,512 2,514 2,503 2,685 2,673 2,348 2,119 2,120
Noncurrent Deferred & Payable Income Tax Liabilities		 2.58 1.77 1.81 1.43 1.56 1.91 4.29 5.26 3.68 5.27 5.02
Other Noncurrent Operating Liabilities		 321 308 313 256 246 243 247 244 233 235 219
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		 691 514 834 751 761 774 796 806 629 489 496
Total Equity & Noncontrolling Interests		 582 592 548 523 502 461 650 640 939 952 946
Total Preferred & Common Equity		 403 403 348 286 250 191 343 308 580 569 544
Total Common Equity		 403 403 348 286 250 191 343 308 580 569 544
Common Stock		 3,534 3,538 3,536 3,541 3,545 3,549 3,735 3,740 3,746 3,754 3,759
Retained Earnings		 -1,804 -1,809 -1,862 -1,928 -1,967 -2,031 -2,066 -2,105 -1,839 -1,858 -1,887
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)		 -11 -10 -10 -11 -11 -11 -11 -11 -11 -11 -11
Noncontrolling Interest		 180 189 200 236 251 269 307 332 359 383 402

Annual Metrics And Ratios for Nabors Industries

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%

Quarterly Metrics And Ratios for Nabors Industries

This table displays calculated financial ratios and metrics derived from Nabors Industries' official financial filings.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 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 6/30/2026
DEI Shares Outstanding		 - - - - - 10,764,937.00 14,538,284.00 14,575,667.00 - 15,834,469.00 15,957,192.00
DEI Adjusted Shares Outstanding		 - - - - - 10,764,937.00 14,538,284.00 14,575,667.00 - 15,834,469.00 15,957,192.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - 3.06 -2.13 18.81 - -0.96 -1.40
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -4.09% -5.72% -4.60% -0.11% 0.11% -0.15% 12.91% 11.06% 9.00% 5.88% -2.62%
EBITDA Growth		 4,159.04% -26.13% -19.39% -2.99% -36.14% 37.11% 20.17% 320.72% 33.12% -21.78% -10.59%
EBIT Growth		 86.69% -55.56% -94.08% -10.80% -208.61% 925.08% 726.61% 1,928.71% 238.52% -70.71% -28.70%
NOPAT Growth		 96.83% -178.22% -180.27% -10.80% -1,193.85% 735.18% 83.08% 1,981.21% 237.63% -92.55% 30.93%
Net Income Growth		 106.63% -114.74% -180.27% -5.90% -952.19% 735.18% 83.08% 1,014.15% 151.70% -92.55% 30.93%
EPS Growth		 55.44% -210.46% -1,283.87% -9.58% -120.46% 148.02% 36.83% 345.63% 116.02% -170.64% 24.72%
Operating Cash Flow Growth		 -9.03% -30.39% 7.83% 7.64% -18.14% -18.19% -16.43% 44.75% 65.08% 29.18% -10.91%
Free Cash Flow Firm Growth		 -122.14% -125.14% -145.45% 452.03% 82.18% -3,348.04% -214.60% -49.45% 1,234.93% 317.09% 257.46%
Invested Capital Growth		 1.56% 0.00% 3.90% -5.72% -1.13% 10.90% 12.97% 6.41% -9.74% -17.90% -18.22%
Revenue Q/Q Growth		 -0.85% 0.82% -0.12% 0.04% -0.63% 0.56% 12.94% -1.60% -2.47% -2.32% 3.88%
EBITDA Q/Q Growth		 -0.86% -23.13% -24.13% -16.03% -34.74% 153.32% -13.44% 194.01% -67.84% -4.42% -1.06%
EBIT Q/Q Growth		 -6.31% -51.83% -95.60% -1,009.66% -196.13% 206.13% -71.09% 1,912.44% -94.18% -13.45% -29.62%
NOPAT Q/Q Growth		 74.64% -468.81% 82.25% -23.40% -196.13% 220.09% -103.86% 13,817.28% -94.38% -74.92% -135.73%
Net Income Q/Q Growth		 112.34% -333.39% -44.73% -153.95% 0.66% 273.96% -103.86% 13,817.28% -94.38% -74.92% -135.73%
EPS Q/Q Growth		 51.60% -49.84% 5.51% -59.91% 2.62% 132.63% -224.31% 721.77% -93.65% -243.93% -32.47%
Operating Cash Flow Q/Q Growth		 36.35% -41.05% 69.40% -20.94% 3.69% -41.09% 73.03% 36.93% 18.26% -53.90% 19.33%
Free Cash Flow Firm Q/Q Growth		 -6.06% -132.74% -86.63% 233.58% -105.37% -3,048.59% -39.31% 121.47% 267.33% 97.63% 1.04%
Invested Capital Q/Q Growth		 -3.60% 0.24% -1.68% -0.77% 1.10% 12.44% 0.15% -6.54% -14.23% 2.27% -0.23%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 285.08% 41.25% 40.75% 41.92% 277.22% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
EBITDA Margin		 19.18% 29.22% 22.20% 18.63% 12.24% 30.82% 23.62% 70.58% 23.27% 22.77% 21.69%
Operating Margin		 -2.99% 7.72% 0.34% -3.09% -9.21% 9.72% 2.49% 50.88% 3.03% 2.69% 1.82%
EBIT Margin		 -2.99% 7.72% 0.34% -3.09% -9.21% 9.72% 2.49% 50.88% 3.03% 2.69% 1.82%
Profit (Net Income) Margin		 0.52% -1.21% -1.75% -4.45% -4.45% 7.70% -0.26% 36.64% 2.11% 0.54% -0.19%
Tax Burden Percent		 16.70% -127.83% -516.00% 144.05% 186.35% 79.21% -10.56% 72.01% 69.55% 20.16% -10.23%
Interest Burden Percent		 -104.81% 12.26% 100.00% 100.00% 25.93% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 83.30% 227.83% 616.00% 0.00% 0.00% 20.79% 110.56% 27.99% 30.45% 79.84% 110.23%
Return on Invested Capital (ROIC)		 -0.46% -8.82% -1.61% -1.90% -5.74% 6.45% -0.23% 34.07% 2.15% 0.52% -0.18%
ROIC Less NNEP Spread (ROIC-NNEP)		 -0.09% -5.74% -1.61% -2.72% -5.04% 6.45% -0.23% 34.07% 2.15% 0.52% -0.18%
Return on Net Nonoperating Assets (RNNOA)		 -0.16% -9.40% -2.79% -4.31% -8.46% 10.36% -0.37% 48.19% 2.98% 0.70% -0.24%
Return on Equity (ROE)		 -0.61% -18.22% -4.40% -6.21% -14.20% 16.81% -0.59% 82.26% 5.13% 1.22% -0.42%
Cash Return on Invested Capital (CROIC)		 -0.05% -2.79% -29.68% -25.44% 0.48% -10.96% -12.49% 3.39% 22.11% 29.14% 29.54%
Operating Return on Assets (OROA)		 -1.82% 4.96% 0.22% -1.98% -5.59% 5.95% 1.58% 34.10% 2.10% 1.86% 1.25%
Return on Assets (ROA)		 0.32% -0.78% -1.15% -2.85% -2.70% 4.71% -0.17% 24.56% 1.46% 0.37% -0.13%
Return on Common Equity (ROCE)		 -0.17% -4.93% -1.21% -1.28% -2.64% 3.89% -0.12% 22.64% 1.41% 0.39% -0.12%
Return on Equity Simple (ROE_SIMPLE)		 0.00% -7.04% -19.74% -26.79% 0.00% -6.36% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -3.68 -73 -13 -16 -48 57 -2.21 302 17 4.26 -1.52
NOPAT Margin		 -0.50% -9.87% -1.75% -2.16% -6.45% 7.70% -0.26% 36.64% 2.11% 0.54% -0.19%
Net Nonoperating Expense Percent (NNEP)		 -0.36% -3.09% 0.00% 0.82% -0.71% 0.00% 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% -0.05%
Cost of Revenue to Revenue		 -185.08% 58.75% 59.25% 58.08% -177.22% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 7.73% 8.30% 8.37% 8.61% 8.32% 9.22% 9.86% 9.34% 9.47% 9.12% 8.74%
R&D to Revenue		 1.89% 1.86% 1.93% 1.94% 1.95% 1.89% 1.52% 1.57% 1.66% 1.72% 1.74%
Operating Expenses to Revenue		 288.07% 33.53% 40.41% 45.01% 286.43% 90.28% 97.51% 49.12% 96.97% 97.31% 98.18%
Earnings before Interest and Taxes (EBIT)		 -22 57 2.53 -23 -68 72 21 420 24 21 15
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 142 217 165 138 90 229 198 583 187 179 177
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 2.37 2.85 3.04 3.61 4.54 1.31 1.32 1.03 1.45 2.40 2.46
Price to Tangible Book Value (P/TBV)		 2.37 2.85 3.04 3.61 4.54 1.31 1.32 1.03 1.45 2.40 2.46
Price to Revenue (P/Rev)		 0.25 0.27 0.26 0.23 0.21 0.15 0.13 0.19 0.27 0.42 0.41
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2.68 2.98 5.71 5.43
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% 37.37% 33.57% 17.50% 18.43%
Enterprise Value to Invested Capital (EV/IC)		 1.13 1.16 1.15 1.15 1.14 1.03 1.03 1.00 1.09 1.26 1.26
Enterprise Value to Revenue (EV/Rev)		 1.25 1.29 1.28 1.27 1.28 1.29 1.25 1.11 1.01 1.18 1.19
Enterprise Value to EBITDA (EV/EBITDA)		 4.85 4.36 4.48 4.46 6.20 5.69 5.42 3.05 2.72 3.36 3.42
Enterprise Value to EBIT (EV/EBIT)		 29.41 16.03 18.84 18.87 0.00 112.39 73.05 7.07 6.05 7.92 8.01
Enterprise Value to NOPAT (EV/NOPAT)		 76.11 0.00 0.00 0.00 0.00 0.00 0.00 10.80 8.69 11.98 11.95
Enterprise Value to Operating Cash Flow (EV/OCF)		 5.95 6.58 6.31 6.15 6.52 6.82 7.20 5.88 4.69 5.36 5.48
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 236.04 0.00 0.00 30.58 4.67 3.90 3.84
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 2.45 1.97 1.99 2.03 2.08 1.86 1.85 1.50 1.74 1.47 1.47
Long-Term Debt to Equity		 1.96 1.97 1.99 2.03 2.08 1.86 1.85 1.50 1.47 1.47 1.47
Financial Leverage		 1.66 1.64 1.74 1.58 1.68 1.61 1.60 1.41 1.39 1.35 1.35
Leverage Ratio		 4.01 3.67 3.83 3.55 3.93 3.57 3.56 3.35 3.52 3.27 3.27
Compound Leverage Factor		 -4.20 0.45 3.83 3.55 1.02 3.57 3.56 3.35 3.52 3.27 3.27
Debt to Total Capital		 71.03% 66.36% 66.56% 66.98% 67.50% 65.01% 64.88% 59.96% 63.44% 59.51% 59.52%
Short-Term Debt to Total Capital		 14.24% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 9.60% 0.00% 0.00%
Long-Term Debt to Total Capital		 56.79% 66.36% 66.56% 66.98% 67.50% 65.01% 64.88% 59.96% 53.84% 59.51% 59.52%
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		 21.58% 26.07% 26.81% 27.90% 28.87% 26.70% 27.64% 25.24% 21.54% 24.51% 25.20%
Common Equity to Total Capital		 7.39% 7.56% 6.63% 5.12% 3.64% 8.30% 7.48% 14.80% 15.02% 15.98% 15.28%
Debt to EBITDA		 4.01 2.82 2.95 2.95 4.10 3.99 3.78 2.04 2.08 1.85 1.88
Net Debt to EBITDA		 2.64 2.34 2.40 2.41 3.45 3.39 3.24 1.67 1.30 1.41 1.43
Long-Term Debt to EBITDA		 3.21 2.82 2.95 2.95 4.10 3.99 3.78 2.04 1.77 1.85 1.88
Debt to NOPAT		 62.94 -26.76 -3.00 -2.37 -115.30 -123.14 -243.38 7.23 6.66 6.59 6.58
Net Debt to NOPAT		 41.50 -22.23 -2.43 -1.93 -97.01 -104.61 -208.11 5.92 4.15 5.03 5.00
Long-Term Debt to NOPAT		 50.33 -26.76 -3.00 -2.37 -115.30 -123.14 -243.38 7.23 5.65 6.59 6.58
Altman Z-Score		 0.28 0.37 0.31 0.27 0.18 0.26 0.23 0.70 0.44 0.60 0.57
Noncontrolling Interest Sharing Ratio		 72.14% 72.95% 72.43% 79.38% 81.44% 76.86% 79.39% 72.48% 72.55% 68.42% 70.50%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.36 1.78 1.82 1.88 1.75 1.80 1.79 2.09 1.56 1.97 1.89
Quick Ratio		 1.17 1.40 1.43 1.48 1.37 1.43 1.38 1.71 1.34 1.57 1.50
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -55 -73 -137 183 -9.82 -309 -431 92 340 671 678
Operating Cash Flow to CapEx		 140.26% 108.19% 145.32% 113.92% 73.64% 55.12% 107.02% 102.78% 151.70% 68.71% 107.67%
Free Cash Flow to Firm to Interest Expense		 0.00 -1.46 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 2.13 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 0.16 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.61 0.64 0.65 0.64 0.61 0.61 0.63 0.67 0.69 0.69 0.68
Accounts Receivable Turnover		 9.03 8.30 8.92 8.36 8.07 6.14 6.77 7.22 8.24 6.73 6.60
Inventory Turnover		 0.00 12.01 11.67 12.04 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 1.03 1.03 1.03 1.04 1.04 1.00 1.04 1.10 1.12 1.09 1.08
Accounts Payable Turnover		 0.00 5.64 5.53 5.74 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 40.41 43.97 40.94 43.64 45.23 59.44 53.95 50.57 44.30 54.22 55.33
Days Inventory Outstanding (DIO)		 0.00 30.40 31.29 30.33 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 64.72 66.04 63.57 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 40.41 9.64 6.18 10.40 45.23 59.44 53.95 50.57 44.30 54.22 55.33
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 3,352 3,360 3,304 3,278 3,314 3,726 3,732 3,488 2,992 3,059 3,052
Invested Capital Turnover		 0.92 0.89 0.92 0.88 0.89 0.84 0.87 0.93 1.02 0.96 0.95
Increase / (Decrease) in Invested Capital		 51 -0.03 124 -199 -38 366 429 210 -323 -667 -680
Enterprise Value (EV)		 3,798 3,889 3,815 3,777 3,792 3,833 3,832 3,504 3,255 3,853 3,849
Market Capitalization		 773 815 762 690 612 449 407 596 854 1,363 1,341
Book Value per Share		 $34.51 $31.21 $23.40 $17.87 $12.61 $31.83 $21.18 $39.78 $37.57 $35.93 $34.10
Tangible Book Value per Share		 $34.51 $31.21 $23.40 $17.87 $12.61 $31.83 $21.18 $39.78 $37.57 $35.93 $34.10
Total Capital		 4,422 3,786 3,777 3,737 3,712 4,131 4,119 3,916 3,932 3,560 3,562
Total Debt		 3,141 2,512 2,514 2,503 2,505 2,685 2,673 2,348 2,495 2,119 2,120
Total Long-Term Debt		 2,512 2,512 2,514 2,503 2,505 2,685 2,673 2,348 2,117 2,119 2,120
Net Debt		 2,071 2,087 2,041 2,044 2,108 2,281 2,285 1,920 1,554 1,618 1,610
Capital Expenditures (CapEx)		 130 99 125 126 202 159 142 202 162 165 126
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -8.86 46 13 41 30 127 140 316 -4.67 67 54
Debt-free Net Working Capital (DFNWC)		 1,061 472 487 501 428 531 527 744 936 567 564
Net Working Capital (NWC)		 432 472 487 501 428 531 527 744 559 567 564
Net Nonoperating Expense (NNE)		 -7.54 -64 0.00 17 -15 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 2,071 2,087 2,041 2,044 2,108 2,281 2,285 1,920 1,554 1,618 1,610
Total Depreciation and Amortization (D&A)		 164 160 162 161 158 157 177 163 163 158 162
Debt-free, Cash-free Net Working Capital to Revenue		 -0.29% 1.54% 0.45% 1.40% 1.02% 4.28% 4.57% 10.05% -0.15% 2.04% 1.66%
Debt-free Net Working Capital to Revenue		 34.80% 15.71% 16.40% 16.87% 14.40% 17.90% 17.22% 23.66% 29.14% 17.43% 17.43%
Net Working Capital to Revenue		 14.15% 15.71% 16.40% 16.87% 14.40% 17.90% 17.22% 23.66% 17.39% 17.43% 17.43%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($3.31) ($4.54) ($4.29) ($6.86) ($6.68) $2.35 ($2.71) $18.25 $0.86 ($1.54) ($2.04)
Adjusted Weighted Average Basic Shares Outstanding		 9.16M 9.18M 9.21M 9.21M 9.20M 10.46M 14.08M 14.10M 13.19M 14.21M 14.27M
Adjusted Diluted Earnings per Share		 ($3.03) ($4.54) ($4.29) ($6.86) ($6.68) $2.18 ($2.71) $16.85 $1.07 ($1.54) ($2.04)
Adjusted Weighted Average Diluted Shares Outstanding		 9.16M 9.18M 9.21M 9.21M 9.20M 11.67M 14.08M 15.32M 14.42M 14.21M 14.27M
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		 10.63M 10.70M 10.71M 10.71M 10.76M 14.54M 14.58M 15.72M 15.83M 15.96M 15.96M
Normalized Net Operating Profit after Tax (NOPAT)		 -15 40 1.77 -16 -48 57 15 302 17 15 10
Normalized NOPAT Margin		 -2.09% 5.40% 0.24% -2.16% -6.45% 7.70% 1.74% 36.64% 2.11% 1.88% 1.28%
Pre Tax Income Margin		 3.13% 0.95% 0.34% -3.09% -2.39% 9.72% 2.49% 50.88% 3.03% 2.69% 1.82%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 1.14 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 -1.46 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 -0.83 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 -3.42 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 4.94% -11.69% -2.10% -2.02% -1.18% -4.36% -63.08% 59.87% 93.29% 0.00% 107.01%
Augmented Payout Ratio		 4.94% -11.69% -2.10% -2.02% -1.18% -4.36% -63.08% 59.87% 93.29% 0.00% 107.01%

Financials Breakdown Chart

Key Financial Trends

Nabors Industries (NYSE:NBR) has shown a clear improvement in revenue and operating performance over the past year, but profitability remains volatile and the balance sheet is still leveraged. The latest quarter also showed strong operating cash flow, though heavy capital spending and large debt repayments resulted in a significant drop in cash on hand.

What stands out most: revenue in Q1 2026 came in at $786.4 million, up from $742.8 million in Q1 2025. More importantly, the company swung back to positive operating income in the latest quarter after some weak results in 2025, suggesting better operating leverage in the business.

  • Q1 2026 operating revenue rose to $786.4 million, up from $742.8 million in Q1 2025.
  • Operating income improved to $21.1 million in Q1 2026, versus an operating loss in Q2 2025 and much stronger but more volatile results across 2025.
  • Operating cash flow was solid at $113.3 million in Q1 2026, showing the business is still generating cash from operations.
  • Nabors ended Q1 2026 with $500.8 million in cash and equivalents, giving it a meaningful liquidity cushion.
  • Total common equity improved sequentially to $568.9 million in Q1 2026 from $308.0 million in Q2 2025.
  • Revenue has been trending higher than the 2024 baseline, with several 2025 quarters above $800 million.
  • Depreciation remains very high, consistently around $150 million to $175 million per quarter, which weighs on reported earnings.
  • The company continues to rely on a large noncontrolling interest / redeemable noncontrolling interest structure, which complicates common shareholder earnings.
  • Capital spending remains elevated, with $165.0 million spent on property, plant and equipment in Q1 2026.
  • Q1 2026 reported net income was only $4.3 million, and common shareholders actually saw a loss after noncontrolling interests.
  • Cash and equivalents fell sharply by $440.4 million in Q1 2026 due to heavy investing and financing outflows.
  • Long-term debt remains high at $2.12 billion as of Q1 2026, keeping leverage a key risk.
  • Total liabilities of $2.94 billion still exceed common equity by a wide margin, indicating a highly leveraged balance sheet.
  • Common shareholders reported a loss of $15.2 million in Q1 2026, despite positive consolidated net income.
  • The business has been volatile quarter to quarter, with periods of strong profits followed by losses, making earnings less predictable.

Bottom line: Nabors appears to be stabilizing operationally, with better revenue and positive operating cash flow in the latest quarter. However, the company still carries substantial debt, burns a lot of cash on capital spending, and has lumpy earnings after noncontrolling interests. For retail investors, the story is improved operating momentum, but the balance sheet and earnings volatility remain the main concerns.

08/03/26 04:05 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 7/31/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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