NESR Stock Analysis: National Energy Reunited | NASDAQ
Oil & Gas Equipment & Services | NASDAQ, USA | Market Cap: 2.786m USD | 12M Return: 367.7% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 67.3M
EPS Trend: 76.1%
Qual. Beats: 1
Rev. Trend: 90.6%
Qual. Beats: 0
Warnings
Tailwinds
Seasonality 9.1 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
National Energy Services Reunited Corp. (NASDAQ: NESR) is a Houston-headquartered oilfield services provider operating primarily across the Middle East and North Africa. Founded in 2017, the company delivers a broad range of services organized into two main segments: Production Services and Drilling and Evaluation Services.
The Production Services segment encompasses well intervention and stimulation work, including hydraulic fracturing, coiled tubing, cementing, nitrogen, filtration, and pipeline/industrial services. It also covers production assurance chemicals, artificial lift, integrated production management, and surface/subsurface safety systems, along with water sourcing and treatment for oil and gas, municipal, and industrial applications.
The Drilling and Evaluation Services segment supplies drilling and workover rigs, directional and turbine drilling, drilling fluids, wireline and slickline logging, well testing, and thru-tubing intervention solutions. The segment further offers tubular running services, wellhead products, flow control equipment, and frac equipment, supported by machining shop capabilities.
As an oilfield services company, NESR operates as a contractor to exploration and production (E&P) operators, meaning its revenue is tied to drilling, completion, and production activity levels across its operating regions. The MENA-focused footprint differentiates it from many U.S.-centric oilfield services peers and exposes the business to national oil company spending cycles in countries such as Saudi Arabia, the UAE, and Iraq. Within the GICS Energy sector, the company is classified under Oil & Gas Equipment & Services, a sub-industry typically regarded as cyclical and capital-intensive, with demand closely linked to global crude oil prices and upstream capital expenditure budgets.
- Middle East upstream capex growth drives production services revenue higher
- Crude oil price volatility impacts MENA drilling rig demand and pricing
- Competition from SLB Halliburton pressures margins across service segments
| Net Income: 64.6m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.07 > 0.02 and ΔFCF/TA 1.79 > 1.0 |
| NWC/Revenue: 2.06% < 20% (prev 4.00%; Δ -1.94% < -1%) |
| CFO/TA 0.14 > 3% & CFO 274.5m > Net Income 64.6m |
| Net Debt (243.8m) to EBITDA (247.9m): 0.98 < 3 |
| Current Ratio: 1.04 > 1.5 & < 3 |
| Outstanding Shares: last quarter (102.9m) vs 12m ago 6.43% < -2% |
| Gross Margin: 11.25% > 18% (prev 15.18%; Δ -3.93% > 0.5%) |
| Asset Turnover: 77.20% > 50% (prev 73.92%; Δ 3.27% > 0%) |
| Interest Coverage Ratio: 3.52 > 6 (EBIT TTM 108.4m / Interest Expense TTM 30.8m) |
| A: 0.02 (Total Current Assets 689.6m - Total Current Liabilities 660.3m) / Total Assets 1.92b |
| B: 0.05 (Retained Earnings 88.8m / Total Assets 1.92b) |
| C: 0.06 (EBIT TTM 108.4m / Avg Total Assets 1.85b) |
| D: 1.07 (Book Value of Equity 995.2m / Total Liabilities 928.7m) |
| Altman-Z'' = 1.77 = BBB |
| DSRI: 1.16 (Receivables 454.0m/359.7m, Revenue 1.43b/1.31b) |
| GMI: 1.35 (GM 15.18% / 11.25%) |
| AQI: 0.88 (AQ_t 0.38 / AQ_t-1 0.43) |
| SGI: 1.09 (Revenue 1.43b / 1.31b) |
| TATA: -0.11 (NI 64.6m - CFO 274.5m) / TA 1.92b) |
| Beneish M = -2.60 (Cap -4..+1) = A |
As of July 14, 2026, the stock is trading at USD 28.62 with a total of 1,737,022 shares traded. Over the past week, the price has changed by +2.58%, over one month by +8.00%, over three months by +23.31% and over the past year by +367.65%.
Current recommended Stop Loss: 24.30 (which is 15.1% or 2.8 ATR below the current price).
National Energy Reunited has received a consensus analysts rating of 4.33. Therefore, it is recommended to buy NESR.
- StrongBuy: 1
- Buy: 2
- Hold: 0
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 32.4 | 13.3% |
P/E Trailing = 43.1719
P/S = 1.9476
P/B = 2.8272
Revenue TTM = 1.43b USD
EBIT TTM = 108.4m USD
EBITDA TTM = 247.9m USD
Long Term Debt = 175.5m USD (from longTermDebt, last quarter)
Short Term Debt = 113.8m USD (from shortTermDebt, last quarter)
Debt = 336.7m USD (from shortLongTermDebtTotal, last quarter) + Leases 24.7m
Net Debt = 243.8m USD (calculated: Debt 336.7m - CCE 93.0m)
Enterprise Value = 3.03b USD (2.79b + Debt 336.7m - CCE 93.0m)
Interest Coverage Ratio = 3.52 (Ebit TTM 108.4m / Interest Expense TTM 30.8m)
EV/FCF = 24.21x (Enterprise Value 3.03b / FCF TTM 125.2m)
FCF Yield = 4.13% (FCF TTM 125.2m / Enterprise Value 3.03b)
FCF Margin = 8.78% (FCF TTM 125.2m / Revenue TTM 1.43b)
Net Margin = 4.53% (Net Income TTM 64.6m / Revenue TTM 1.43b)
Gross Margin = 11.25% ((Revenue TTM 1.43b - Cost of Revenue TTM 1.27b) / Revenue TTM)
Gross Margin QoQ = 11.65% (prev 10.88%)
Tobins Q-Ratio = 1.57 (Enterprise Value 3.03b / Total Assets 1.92b)
Interest Expense / Debt = 9.14% (Interest Expense 30.8m / Debt 336.7m)
Taxrate = 16.82% (13.1m / 77.6m)
NOPAT = 90.2m (EBIT 108.4m * (1 - 16.82%))
Current Ratio = 1.04 (Total Current Assets 689.6m / Total Current Liabilities 660.3m)
Debt / Equity = 0.34 (Debt 336.7m / totalStockholderEquity, last quarter 995.2m)
Debt / EBITDA = 0.98 (Net Debt 243.8m / EBITDA 247.9m)
Debt / FCF = 1.95 (Net Debt 243.8m / FCF TTM 125.2m)
Total Stockholder Equity = 964.2m (last 4 quarters mean from totalStockholderEquity)
RoA = 3.50% (Net Income 64.6m / Total Assets 1.92b)
RoE = 6.70% (Net Income TTM 64.6m / Total Stockholder Equity 964.2m)
RoCE = 9.51% (EBIT 108.4m / Capital Employed (Equity 964.2m + L.T.Debt 175.5m))
RoIC = 6.90% (NOPAT 90.2m / Invested Capital 1.31b)
WACC = 9.22% (E(2.79b)/V(3.12b) * Re(9.42%) + D(336.7m)/V(3.12b) * Rd(9.14%) * (1-Tc(0.17)))
Discount Rate = 9.42% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 98.88 | Cagr: 3.63%
[DCF] Terminal Value 75.19% ; FCFF base≈108.4m ; Y1≈124.3m ; Y5≈183.0m
[DCF] Fair Price = 21.24 (EV 2.39b - Net Debt 243.8m = Equity 2.14b / Shares 100.8m; r=9.22% [WACC]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 76.06 | EPS CAGR: 76.11% | SUE: 0.89 | # QB: 1
Revenue Correlation: 90.62 | Revenue CAGR: 12.92% | SUE: 0.08 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.33 | Chg30d=+2.58% | Revisions=+44% | Analysts=7
EPS next Quarter (2026-09-30): EPS=0.46 | Chg30d=+2.13% | Revisions=+44% | Analysts=7
EPS current Year (2026-12-31): EPS=1.66 | Chg30d=+1.98% | Revisions=+67% | GrowthEPS=+100.0% | GrowthRev=+41.4%
EPS next Year (2027-12-31): EPS=2.41 | Chg30d=+1.15% | Revisions=+62% | GrowthEPS=+45.3% | GrowthRev=+22.0%
[Analyst] Revisions Ratio: +73% (up=21, down=2)