Capital investment and capacitypositive · 3 filings
“The difference between periods was primarily due to higher cash paid for capital expenditures period-over-period to support growth in our operations.”10-Q · Aug 10, 2026 ↗
National Energy Services Reunited Corp.
NESR
Market read
National Energy Services Reunited Corp.'s current read is isolated; its market group is not confirming.
No new filing conclusion is available. 0 of 1 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 0 directly disclosed connections are confirming.
Company-2.8% todayVolume comparison unavailable
Market group0 of 1 activeOilfield Services · unavailable
Disclosed network0 of 7 confirmingNo filing-linked name is confirming now
What would change this read
Watch this read- The Working Capital Facility declined by $41.2 million after a tranche expired, partly offset by new commitments.
- The effective tax rate increased because geographic earnings mix changed and pre-tax income rose relative to tax-position adjustments.
Invalidation: The isolated read changes if NESR's group or a disclosed connection begins moving with it.
Research brief
The story so far
No new filing conclusion is available. 0 of 1 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 0 directly disclosed connections are confirming.
Evidence that supports
No thresholded supportive filing evidence is available yet.
Evidence that challenges
No thresholded adverse filing evidence is available yet.
What would clarify the read
- The Working Capital Facility declined by $41.2 million after a tranche expired, partly offset by new commitments.
- The effective tax rate increased because geographic earnings mix changed and pre-tax income rose relative to tax-position adjustments.
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods3
Price observations327
Usable filing statements49
Verified relationships0
Evidence supporting the case
- Operating cash flow covered net income at 5.17x in the latest annual period.
Evidence challenging the case
- Operating margin changed -3.2 percentage points in the latest annual period.
- Net margin changed -2.0 percentage points in the latest annual period.
- Diluted shares increased 3.5% in the latest annual period.
Questions before a position
No credible peer-relative valuation comparison is available yet.
Longer-term price context
Price as of Sep 10, 2026
33.836m+65.1%12m+247.3%24m—
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2023-12-31$1.1B—$0.13—
2024-12-31$1.3B+13.6%$0.80+1.0%
2025-12-31$1.3B+1.7%$0.52+3.5%
What management says matters
Persistent and emerging business drivers
Credit and interest ratesnegative · 3 filings
“The difference between periods was primarily attributable to lower short-term borrowings.”10-Q · Aug 10, 2026 ↗
Demand and volumemixed · 1 filings
“Customer investment in oil and natural gas exploration, field development, and production is driven by multiple factors, including global energy supply and demand forecasts, geopolitical and economic conditions in key operating regions, and expectations for f…”10-K · Mar 6, 2026 ↗
Energy and commodity pricesmixed · 1 filings
“Over time, we expect the natural gas market to become an additional key performance indicator for the Company, reflecting its growing importance in regional energy strategies and our expanding participation in that segment.”10-K · Mar 6, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 2.5× · EV/sales 2.6×. Comparisons use only industry-matched filing peers.
Scenario scaffold
Fewer than 4 annual revenue periods; too little history to scaffold scenarios.
Price action
How the market is pricing the story
33.75-2.8% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 15:10 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for NESR. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for NESR. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind NESR
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 7 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
NESR is currently a Leader in the organic co-movement group Oilfield Services. This group is discovered from market behaviour rather than assigned from an industry taxonomy. No verified filing-linked names are available yet.
This group is retained as the last observed read for NESR; it is not active in the latest market snapshot.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.