NOV Inc

NOV: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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High-Performance Tech and Gas Lift Should Help NOV Weather Macroeconomic Uncertainty

Joshua Aguilar , Francis Petropoulos

Jul 29, 2025

Business Strategy and Outlook

NOV is a large diversified oilfield-services supplier that competes with Schlumberger, Halliburton, and Baker Hughes. It grapples with the Big Three in many end markets, but its significant presence in equipment manufacturing sets it apart. NOV is the largest original equipment manufacturer of rig systems for oilfield-services providers in onshore and offshore markets. It's maintained majority market share for two decades, controlling over half the market.

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NOV Inc

High-Performance Tech and Gas Lift Should Help NOV Weather Macroeconomic Uncertainty

Business Strategy and Outlook

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