(NESR) National Energy Reunited - Overview
Stock: Drilling, Evaluation, Production, Stimulation, Cementing
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 75.0% |
| Relative Tail Risk | -30.3% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 1.70 |
| Alpha | 102.81 |
| Character TTM | |
|---|---|
| Beta | 1.207 |
| Beta Downside | 1.567 |
| Drawdowns 3y | |
|---|---|
| Max DD | 63.99% |
| CAGR/Max DD | 0.66 |
Description: NESR National Energy Reunited January 26, 2026
National Energy Services Reunited Corp. (NASDAQ: NESR) operates two core divisions in the Middle East-North Africa (MENA) oilfield market. The Production Services segment delivers a full suite of well-completion and surface-facility solutions-including hydraulic fracturing, coiled-tubing, cementing, nitrogen-based operations, filtration, and pipeline testing-plus ancillary chemicals, artificial-lift equipment, and water-treatment services. The Drilling & Evaluation Services segment provides drilling rigs, work-over rigs, directional-drilling technology, wireline and slickline logging, well-testing, and a range of wellhead and flow-control hardware.
According to NESR’s FY 2025 Form 10-K (filed March 2026), revenue reached **$1.21 billion**, up **14 % YoY**, driven primarily by a 22 % increase in hydraulic-fracturing volumes and a 19 % rise in rig-day utilization in the MENA region. Operating income improved to **$98 million** (EBIT margin ≈ 8 %), reflecting tighter cost controls and a modest depreciation-free cash-flow generation of **$115 million**. The company reported a **backlog of $540 million**, roughly 45 % of FY 2025 revenue, indicating near-term demand resilience. Key sector drivers remain the **rebound in oil prices to $85-$90 /barrel** after the 2024-25 price rally, OPEC+’s continued production discipline, and MENA governments’ accelerated spending on enhanced-oil-recovery projects, which together raise the base-case demand for NESR’s high-margin services. However, the outlook is sensitive to geopolitical risk (e.g., conflict-related supply disruptions) and potential downstream capital-expenditure cuts if global demand moderates.
For a deeper, data-driven assessment of NESR’s valuation dynamics, you may find ValueRay’s analytical dashboard useful as a next step.
Piotroski VR‑10 (Strict, 0-10) 3.5
| Net Income: 70.2m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.03 > 0.02 and ΔFCF/TA -5.05 > 1.0 |
| NWC/Revenue: 4.20% < 20% (prev 4.26%; Δ -0.06% < -1%) |
| CFO/TA 0.10 > 3% & CFO 171.9m > Net Income 70.2m |
| Net Debt (286.8m) to EBITDA (256.5m): 1.12 < 3 |
| Current Ratio: 1.10 > 1.5 & < 3 |
| Outstanding Shares: last quarter (100.7m) vs 12m ago 5.30% < -2% |
| Gross Margin: 13.85% > 18% (prev 0.15%; Δ 1370 % > 0.5%) |
| Asset Turnover: 70.29% > 50% (prev 70.20%; Δ 0.10% > 0%) |
| Interest Coverage Ratio: 3.17 > 6 (EBITDA TTM 256.5m / Interest Expense TTM 34.9m) |
Altman Z'' 1.89
| A: 0.03 (Total Current Assets 595.9m - Total Current Liabilities 542.5m) / Total Assets 1.81b |
| B: 0.03 (Retained Earnings 57.2m / Total Assets 1.81b) |
| C: 0.06 (EBIT TTM 110.5m / Avg Total Assets 1.81b) |
| D: 1.12 (Book Value of Equity 956.7m / Total Liabilities 852.5m) |
| Altman-Z'' Score: 1.89 = BBB |
Beneish M -2.83
| DSRI: 1.21 (Receivables 400.9m/329.4m, Revenue 1.27b/1.27b) |
| GMI: 1.11 (GM 13.85% / 15.32%) |
| AQI: 0.97 (AQ_t 0.42 / AQ_t-1 0.43) |
| SGI: 1.00 (Revenue 1.27b / 1.27b) |
| TATA: -0.06 (NI 70.2m - CFO 171.9m) / TA 1.81b) |
| Beneish M-Score: -2.83 (Cap -4..+1) = A |
What is the price of NESR shares?
Over the past week, the price has changed by +6.05%, over one month by +25.80%, over three months by +68.04% and over the past year by +122.73%.
Is NESR a buy, sell or hold?
- StrongBuy: 1
- Buy: 2
- Hold: 0
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the NESR price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 22.1 | 6.1% |
| Analysts Target Price | 22.1 | 6.1% |
| ValueRay Target Price | 21.5 | 3.2% |
NESR Fundamental Data Overview February 07, 2026
P/S = 1.598
P/B = 2.1522
Revenue TTM = 1.27b USD
EBIT TTM = 110.5m USD
EBITDA TTM = 256.5m USD
Long Term Debt = 207.2m USD (from longTermDebt, last quarter)
Short Term Debt = 129.5m USD (from shortTermDebt, last quarter)
Debt = 356.4m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 286.8m USD (from netDebt column, last quarter)
Enterprise Value = 2.32b USD (2.03b + Debt 356.4m - CCE 69.7m)
Interest Coverage Ratio = 3.17 (Ebit TTM 110.5m / Interest Expense TTM 34.9m)
EV/FCF = 50.08x (Enterprise Value 2.32b / FCF TTM 46.2m)
FCF Yield = 2.00% (FCF TTM 46.2m / Enterprise Value 2.32b)
FCF Margin = 3.64% (FCF TTM 46.2m / Revenue TTM 1.27b)
Net Margin = 5.53% (Net Income TTM 70.2m / Revenue TTM 1.27b)
Gross Margin = 13.85% ((Revenue TTM 1.27b - Cost of Revenue TTM 1.09b) / Revenue TTM)
Gross Margin QoQ = 11.97% (prev 13.41%)
Tobins Q-Ratio = 1.28 (Enterprise Value 2.32b / Total Assets 1.81b)
Interest Expense / Debt = 2.28% (Interest Expense 8.13m / Debt 356.4m)
Taxrate = 20.09% (19.2m / 95.5m)
NOPAT = 88.3m (EBIT 110.5m * (1 - 20.09%))
Current Ratio = 1.10 (Total Current Assets 595.9m / Total Current Liabilities 542.5m)
Debt / Equity = 0.37 (Debt 356.4m / totalStockholderEquity, last quarter 956.7m)
Debt / EBITDA = 1.12 (Net Debt 286.8m / EBITDA 256.5m)
Debt / FCF = 6.20 (Net Debt 286.8m / FCF TTM 46.2m)
Total Stockholder Equity = 930.6m (last 4 quarters mean from totalStockholderEquity)
RoA = 3.89% (Net Income 70.2m / Total Assets 1.81b)
RoE = 7.54% (Net Income TTM 70.2m / Total Stockholder Equity 930.6m)
RoCE = 9.71% (EBIT 110.5m / Capital Employed (Equity 930.6m + L.T.Debt 207.2m))
RoIC = 6.84% (NOPAT 88.3m / Invested Capital 1.29b)
WACC = 9.08% (E(2.03b)/V(2.39b) * Re(10.36%) + D(356.4m)/V(2.39b) * Rd(2.28%) * (1-Tc(0.20)))
Discount Rate = 10.36% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 2.97%
[DCF Debug] Terminal Value 66.48% ; FCFF base≈82.6m ; Y1≈56.5m ; Y5≈28.0m
Fair Price DCF = 1.66 (EV 453.6m - Net Debt 286.8m = Equity 166.9m / Shares 100.8m; r=9.08% [WACC]; 5y FCF grow -36.96% → 2.90% )
EPS Correlation: 27.62 | EPS CAGR: 20.30% | SUE: -0.48 | # QB: 0
Revenue Correlation: 86.72 | Revenue CAGR: 9.76% | SUE: 0.01 | # QB: 0
EPS next Quarter (2026-03-31): EPS=0.24 | Chg30d=-0.013 | Revisions Net=+2 | Analysts=6
EPS next Year (2026-12-31): EPS=1.49 | Chg30d=+0.011 | Revisions Net=+2 | Growth EPS=+94.3% | Growth Revenue=+35.5%