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NOV Inc NOV

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Stock XNYS Rating as of
$18.87 −0.08 (0.42%)
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As of Delayed Price Closed
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Company Report

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NOV Earnings: International Markets Remain Key Driver Amid a Slow North America Market

Stephen Ellis, Samuel Siampaus

NOV delivered solid 2024 first-quarter results as international markets outweighed a tepid North America business, a trend we expect to continue through 2024. Yet, both revenue and EBITDA figures came in significantly higher year over year, with revenue up 11% while EBITDA grew nearly 24%. After incorporating the quarterly results, we maintain our $22 fair value estimate and no-moat rating.

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Price vs Fair Value

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NOV is trading within a range we consider fairly valued.
Price
$18.59
Fair Value
$65.00
Uncertainty
Very High
1-Star Price
$36.80
5-Star Price
$18.00
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

Increased production activity and diminished excess inventory will increase demand for NOV’s highly profitable rig aftermarket services.

Bears

Demand for new rig equipment will never return to previous levels, permanently reducing services providers’ reliance on NOV.

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News

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Trading Information

Previous Close Price
$18.95
Day Range
$18.25–19.81
52-Week Range
$14.05–21.91
Bid/Ask
$18.88 / $19.25
Market Cap
$7.46 Bil
Volume/Avg
8.7 Mil / 4.4 Mil

Key Statistics

Price/Earnings (Normalized)
13.64
Price/Sales
0.87
Dividend Yield (Trailing)
1.06%
Dividend Yield (Forward)
1.06%
Total Yield
1.06%

Company Profile

NOV (formerly National Oilwell Varco) is a leading supplier of oil and gas drilling rig equipment and products, such as downhole tools, drill pipe, and well casing. The company operates on a global scale, with international markets contributing more than 60% of its annual revenue.
Sector
Energy
Industry
Oil & Gas Equipment & Services
Stock Style Box
Small Core
Total Number of Employees
33,676
Website
https://www.nov.com

Competitors

Valuation

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Metric
NOV
SLB
BKR
Price/Earnings (Normalized)
 13.6415.8218.76
Price/Book Value
 1.213.392.13
Price/Sales
 0.872.081.27
Price/Cash Flow
 10.3010.1111.98
Price/Earnings
NOV
SLB
BKR

Financial Strength

Metric
NOV
SLB
BKR
Quick Ratio
 1.420.880.73
Current Ratio
 2.401.321.25
Interest Coverage
 7.6411.3014.14
Quick Ratio
NOV
SLB
BKR

Profitability

Metric
NOV
SLB
BKR
Return on Assets (Normalized)
 9.90%9.54%4.54%
Return on Equity (Normalized)
 18.94%22.91%10.83%
Return on Invested Capital (Normalized)
 13.72%14.48%8.24%
Return on Assets
NOV
SLB
BKR
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