Skip to Content
Rating as of

Morningstar’s Analysis

Valuation
Currency in USD
Is it the right time to buy or sell?
Find out with Morningstar Premium
Is it the right time to buy or sell?
Find out with Morningstar Premium

1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

NOV Experiences Rough First Quarter, Though Rebound Is Expected for Rest of 2021

Preston Caldwell Equity Analyst

Analyst Note

| Preston Caldwell |

NOV's first quarter revenue declined 6% sequentially, driven mainly by a 20% drop in the completion and production, or C&P, segment. By geography, revenue increased 10% in North America due to higher industrywide activity, but dropped 12% in international markets. Adjusted operating margins dipped to negative 6.3% from negative 4.9% previously, representing decrementals of 18%, a somewhat mild bottom-line deterioration reflecting the contribution from cost-cutting. Our fair value estimate and no-moat rating are unchanged following the results. 

Read Full Analysis

Company Profile

Business Description

NOV Inc 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 more than a thousand locations in six continents.

Contact
7909 Parkwood Circle Drive
Houston, TX, 77036-6565
T +1 713 346-7500
Sector Energy
Industry Oil & Gas Equipment & Services
Most Recent Earnings Mar 31, 2021
Fiscal Year End Dec 31, 2021
Stock Type Hard Assets
Employees 27,631

Related