What is Now Inc's earnings per share (EPS)?

Now Inc (DNOW) reported diluted earnings per share of $-0.76 for fiscal year 2025. This represents a -207.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Now Inc Financials

DNOW

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Now Inc (DNOW) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 14 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 43/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Now Inc has an operating margin of -3.3%, meaning the company retains $-3 of operating profit per $100 of revenue. This below-average margin results in a low score of 15/100, suggesting thin profitability after operating expenses. This is down from 4.6% the prior year.

Growth

Now Inc's revenue surged 18.8% year-over-year to $2.8B, reflecting rapid business expansion. This strong growth earns a score of 65/100.

Leverage

Now Inc carries a low D/E ratio of 0.18, meaning only $0.18 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 98/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Now Inc's current ratio of 2.34 indicates adequate short-term liquidity, earning a score of 43/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

Now Inc has a free cash flow margin of 4.8%, earning a moderate score of 37/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns

Now Inc generates a -4.0% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 2/100. This is down from 6.9% the prior year.

Piotroski F-Score Weak

3/9

Now Inc passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Mixed

-1.74x

For every $1 of reported earnings, Now Inc generates $-1.74 in operating cash flow ($155.0M OCF vs -$89.0M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Key Financial Metrics

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Earnings & Revenue

Revenue

$2.8B

YoY+18.8%

5Y CAGR+11.7%

10Y CAGR-0.6%

Now Inc generated $2.8B in revenue in fiscal year 2025. This represents an increase of 18.8% from the prior year.

EBITDA

-$41.0M

YoY-128.7%

Now Inc's EBITDA was -$41.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 128.7% from the prior year.

Net Income

-$89.0M

YoY-214.1%

Now Inc reported -$89.0M in net income in fiscal year 2025. This represents a decrease of 214.1% from the prior year.

EPS (Diluted)

$-0.76

YoY-207.0%

Now Inc earned $-0.76 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 207.0% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$134.0M

YoY-53.6%

5Y CAGR-5.8%

10Y CAGR-8.1%

Now Inc generated $134.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 53.6% from the prior year.

Cash & Debt

$164.0M

YoY-35.9%

5Y CAGR-15.8%

10Y CAGR+6.2%

Now Inc held $164.0M in cash against $411.0M in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

186M

YoY+76.1%

5Y CAGR+11.1%

10Y CAGR+5.7%

Now Inc had 186M shares outstanding in fiscal year 2025. This represents an increase of 76.1% from the prior year.

Margins & Returns

Gross Margin

17.0%

YoY-5.4pp

5Y CAGR-1.1pp

10Y CAGR+0.3pp

Now Inc's gross margin was 17.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 5.4 percentage points from the prior year.

Operating Margin

-3.3%

YoY-7.9pp

5Y CAGR+22.6pp

10Y CAGR+13.6pp

Now Inc's operating margin was -3.3% in fiscal year 2025, reflecting core business profitability. This is down 7.9 percentage points from the prior year.

Net Margin

-3.2%

YoY-6.5pp

5Y CAGR+23.2pp

10Y CAGR+13.5pp

Now Inc's net profit margin was -3.2% in fiscal year 2025, showing the share of revenue converted to profit. This is down 6.5 percentage points from the prior year.

Return on Equity

-4.0%

YoY-10.9pp

5Y CAGR+57.1pp

10Y CAGR+31.8pp

Now Inc's ROE was -4.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 10.9 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

$37.0M

YoY+60.9%

Now Inc spent $37.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 60.9% from the prior year.

Capital Expenditures

$21.0M

YoY+133.3%

5Y CAGR+21.3%

10Y CAGR+6.7%

Now Inc invested $21.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 133.3% from the prior year.

DNOW Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$2.8B+18.8%	$2.4B+2.2%	$2.3B+8.7%	$2.1B+30.9%	$1.6B+0.8%	$1.6B
Cost of Revenue	$2.3B+27.1%	$1.8B+3.4%	$1.8B+9.3%	$1.6B+27.8%	$1.3B-3.9%	$1.3B
Gross Profit	$478.0M-10.0%	$531.0M-1.5%	$539.0M+6.5%	$506.0M+41.7%	$357.0M+22.3%	$292.0M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$559.0M+34.4%	$416.0M+5.3%	$395.0M	N/A	N/A	N/A
Operating Income	-$93.0M-185.3%	$109.0M-24.3%	$144.0M+9.9%	$131.0M+1355.6%	$9.0M+102.1%	-$420.0M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	-$12.0M-138.7%	$31.0M+128.4%	-$109.0M-1190.0%	$10.0M+42.9%	$7.0M+333.3%	-$3.0M
Net Income	-$89.0M-214.1%	$78.0M-68.8%	$250.0M+95.3%	$128.0M+2460.0%	$5.0M+101.2%	-$427.0M
EPS (Diluted)	$-0.76-207.0%	$0.71-68.7%	$2.27+100.9%	$1.13+2160.0%	$0.05+101.3%	$-3.91

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$959.0M+51.3%	$634.0M+1.0%	$628.0M+4.8%	$599.0M+4.9%	$571.0M-5.8%	$606.0M-4.3%	$633.0M+12.4%	$563.0M
Cost of Revenue	$909.0M+85.9%	$489.0M+1.0%	$484.0M+5.2%	$460.0M+4.1%	$442.0M-6.2%	$471.0M-4.8%	$495.0M+14.1%	$434.0M
Gross Profit	$50.0M-65.5%	$145.0M+0.7%	$144.0M+3.6%	$139.0M+7.8%	$129.0M-4.4%	$135.0M-2.2%	$138.0M+7.0%	$129.0M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	-$188.0M-669.7%	$33.0M+3.1%	$32.0M+6.7%	$30.0M+20.0%	$25.0M+8.7%	$23.0M-30.3%	$33.0M+17.9%	$28.0M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	-$33.0M-571.4%	$7.0M0.0%	$7.0M0.0%	$7.0M+16.7%	$6.0M-33.3%	$9.0M+12.5%	$8.0M0.0%	$8.0M
Net Income	-$161.0M-744.0%	$25.0M0.0%	$25.0M+13.6%	$22.0M+10.0%	$20.0M+53.8%	$13.0M-45.8%	$24.0M+14.3%	$21.0M
EPS (Diluted)	N/A	$0.230.0%	$0.23+15.0%	$0.20	N/A	$0.12-42.9%	$0.21+10.5%	$0.19

DNOW Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$3.9B+142.1%	$1.6B+5.8%	$1.5B+16.1%	$1.3B+19.6%	$1.1B+9.5%	$1.0B
Current Assets	$2.3B+121.6%	$1.0B-3.7%	$1.1B+5.0%	$1.0B+15.2%	$883.0M+2.6%	$861.0M
Cash & Equivalents	$164.0M-35.9%	$256.0M-14.4%	$299.0M+41.0%	$212.0M-32.3%	$313.0M-19.1%	$387.0M
Inventory	$1.2B+238.6%	$352.0M-3.8%	$366.0M-3.9%	$381.0M+52.4%	$250.0M-4.6%	$262.0M
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$617.0M+168.3%	$230.0M+65.5%	$139.0M+19.8%	$116.0M+73.1%	$67.0M	$0
Total Liabilities	$1.7B+242.0%	$493.0M+5.8%	$466.0M-2.1%	$476.0M+21.4%	$392.0M+26.9%	$309.0M
Current Liabilities	$974.0M+120.4%	$442.0M+5.7%	$418.0M-4.8%	$439.0M+19.0%	$369.0M+35.7%	$272.0M
Long-Term Debt	$411.0M	$0	N/A	N/A	N/A	N/A
Total Equity	$2.2B+98.7%	$1.1B+6.0%	$1.1B+25.9%	$842.0M+18.4%	$711.0M+1.7%	$699.0M
Retained Earnings	-$836.0M-11.9%	-$747.0M+9.8%	-$828.0M+23.0%	-$1.1B+10.6%	-$1.2B+0.4%	-$1.2B

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$3.9B+136.4%	$1.7B-0.1%	$1.7B+0.6%	$1.7B+1.9%	$1.6B+2.1%	$1.6B+1.5%	$1.6B-1.9%	$1.6B
Current Assets	$2.3B+107.8%	$1.1B+1.5%	$1.1B+1.2%	$1.1B+3.8%	$1.0B-2.8%	$1.1B+3.4%	$1.0B-2.1%	$1.0B
Cash & Equivalents	$164.0M-38.3%	$266.0M+14.7%	$232.0M+5.9%	$219.0M-14.5%	$256.0M-1.9%	$261.0M+32.5%	$197.0M+4.8%	$188.0M
Inventory	$1.2B+216.2%	$377.0M-1.6%	$383.0M-0.5%	$385.0M+9.4%	$352.0M-3.3%	$364.0M-8.8%	$399.0M-6.8%	$428.0M
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$617.0M+162.6%	$235.0M0.0%	$235.0M+2.2%	$230.0M0.0%	$230.0M+19.8%	$192.0M0.0%	$192.0M0.0%	$192.0M
Total Liabilities	$1.7B+254.9%	$475.0M-5.0%	$500.0M-1.4%	$507.0M+2.8%	$493.0M+5.1%	$469.0M+1.1%	$464.0M-9.9%	$515.0M
Current Liabilities	$974.0M+123.9%	$435.0M-4.4%	$455.0M-1.1%	$460.0M+4.1%	$442.0M+6.0%	$417.0M+1.2%	$412.0M-10.8%	$462.0M
Long-Term Debt	$411.0M	N/A	N/A	N/A	$0	N/A	N/A	N/A
Total Equity	$2.2B+88.9%	$1.2B+2.2%	$1.2B+1.5%	$1.1B+1.3%	$1.1B+0.9%	$1.1B+1.7%	$1.1B+1.8%	$1.1B
Retained Earnings	-$836.0M-23.9%	-$675.0M+3.6%	-$700.0M+3.4%	-$725.0M+2.9%	-$747.0M+3.0%	-$770.0M+1.7%	-$783.0M+3.0%	-$807.0M

DNOW Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$155.0M-48.0%	$298.0M+58.5%	$188.0M	$0-100.0%	$30.0M-84.1%	$189.0M
Capital Expenditures	$21.0M+133.3%	$9.0M-47.1%	$17.0M+88.9%	$9.0M+80.0%	$5.0M-37.5%	$8.0M
Free Cash Flow	$134.0M-53.6%	$289.0M+69.0%	$171.0M+2000.0%	-$9.0M-136.0%	$25.0M-86.2%	$181.0M
Investing Cash Flow	-$590.0M-94.1%	-$304.0M-533.3%	-$48.0M+44.8%	-$87.0M+9.4%	-$96.0M-536.4%	$22.0M
Financing Cash Flow	$339.0M+1127.3%	-$33.0M+40.0%	-$55.0M-450.0%	-$10.0M-66.7%	-$6.0M+25.0%	-$8.0M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$37.0M+60.9%	$23.0M-54.0%	$50.0M+614.3%	$7.0M	$0	$0

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	$83.0M+93.0%	$43.0M-4.4%	$45.0M+381.3%	-$16.0M-113.1%	$122.0M+64.9%	$74.0M+252.4%	$21.0M-74.1%	$81.0M
Capital Expenditures	$7.0M+75.0%	$4.0M0.0%	$4.0M-33.3%	$6.0M+100.0%	$3.0M+50.0%	$2.0M-33.3%	$3.0M+200.0%	$1.0M
Free Cash Flow	$76.0M+94.9%	$39.0M-4.9%	$41.0M+286.4%	-$22.0M-118.5%	$119.0M+65.3%	$72.0M+300.0%	$18.0M-77.5%	$80.0M
Investing Cash Flow	-$571.0M-18933.3%	-$3.0M+72.7%	-$11.0M-120.0%	-$5.0M+95.6%	-$114.0M-5600.0%	-$2.0M	$0+100.0%	-$188.0M
Financing Cash Flow	$384.0M+7780.0%	-$5.0M+78.3%	-$23.0M-35.3%	-$17.0M-112.5%	-$8.0M+20.0%	-$10.0M+9.1%	-$11.0M-175.0%	-$4.0M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$10.0M	$0-100.0%	$19.0M+137.5%	$8.0M+60.0%	$5.0M-28.6%	$7.0M-30.0%	$10.0M+900.0%	$1.0M

DNOW Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	17.0%-5.4pp	22.4%-0.8pp	23.2%-0.5pp	23.7%+1.8pp	21.9%+3.8pp	18.0%
Operating Margin	-3.3%-7.9pp	4.6%-1.6pp	6.2%+0.1pp	6.1%+5.6pp	0.5%+26.5pp	-25.9%
Net Margin	-3.2%-6.5pp	3.3%-7.5pp	10.8%+4.8pp	6.0%+5.7pp	0.3%+26.7pp	-26.4%
Return on Equity	-4.0%-10.9pp	6.9%-16.6pp	23.6%+8.4pp	15.2%+14.5pp	0.7%+61.8pp	-61.1%
Return on Assets	-2.3%-7.1pp	4.8%-11.5pp	16.3%+6.6pp	9.7%+9.3pp	0.4%+42.8pp	-42.4%
Current Ratio	2.34+0.0	2.33-0.2	2.56+0.2	2.32-0.1	2.39-0.8	3.17
Debt-to-Equity	0.18+0.2	0.00-0.4	0.44-0.1	0.57+0.0	0.55+0.1	0.44
FCF Margin	4.8%-7.4pp	12.2%+4.8pp	7.4%+7.8pp	-0.4%-1.9pp	1.5%-9.7pp	11.2%

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	5.2%-17.7pp	22.9%-0.1pp	22.9%-0.3pp	23.2%+0.6pp	22.6%+0.3pp	22.3%+0.5pp	21.8%-1.1pp	22.9%
Operating Margin	-19.6%-24.8pp	5.2%+0.1pp	5.1%+0.1pp	5.0%+0.6pp	4.4%+0.6pp	3.8%-1.4pp	5.2%+0.2pp	5.0%
Net Margin	-16.8%-20.7pp	3.9%-0.0pp	4.0%+0.3pp	3.7%+0.2pp	3.5%+1.4pp	2.1%-1.6pp	3.8%+0.1pp	3.7%
Return on Equity	-7.2%-9.3pp	2.1%-0.0pp	2.2%+0.2pp	1.9%+0.2pp	1.8%+0.6pp	1.2%-1.0pp	2.2%+0.2pp	1.9%
Return on Assets	-4.1%-5.6pp	1.5%0.0pp	1.5%+0.2pp	1.3%+0.1pp	1.2%+0.4pp	0.8%-0.7pp	1.5%+0.2pp	1.3%
Current Ratio	2.34-0.2	2.52+0.1	2.37+0.1	2.320.0	2.33-0.2	2.54+0.1	2.48+0.2	2.26
Debt-to-Equity	0.18-0.2	0.40-0.0	0.43-0.0	0.45+0.4	0.00-0.4	0.420.0	0.42-0.1	0.48
FCF Margin	7.9%+1.8pp	6.2%-0.4pp	6.5%+10.2pp	-3.7%-24.5pp	20.8%+9.0pp	11.9%+9.0pp	2.8%-11.4pp	14.2%

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Frequently Asked Questions

What is Now Inc's annual revenue?

Now Inc (DNOW) reported $2.8B in total revenue for fiscal year 2025. This represents a 18.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Now Inc's revenue growing?

Now Inc (DNOW) revenue grew by 18.8% year-over-year, from $2.4B to $2.8B in fiscal year 2025.

Is Now Inc profitable?

No, Now Inc (DNOW) reported a net income of -$89.0M in fiscal year 2025, with a net profit margin of -3.2%.

What is Now Inc's EBITDA?

Now Inc (DNOW) had EBITDA of -$41.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Now Inc have?

As of fiscal year 2025, Now Inc (DNOW) had $164.0M in cash and equivalents against $411.0M in long-term debt.

What is Now Inc's gross margin?

Now Inc (DNOW) had a gross margin of 17.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Now Inc's operating margin?

Now Inc (DNOW) had an operating margin of -3.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Now Inc's net profit margin?

Now Inc (DNOW) had a net profit margin of -3.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Now Inc's return on equity (ROE)?

Now Inc (DNOW) has a return on equity of -4.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Now Inc's free cash flow?

Now Inc (DNOW) generated $134.0M in free cash flow during fiscal year 2025. This represents a -53.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Now Inc's operating cash flow?

Now Inc (DNOW) generated $155.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Now Inc's total assets?

Now Inc (DNOW) had $3.9B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Now Inc's capital expenditures?

Now Inc (DNOW) invested $21.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does Now Inc buy back shares?

Yes, Now Inc (DNOW) spent $37.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Now Inc have outstanding?

Now Inc (DNOW) had 186M shares outstanding as of fiscal year 2025.

What is Now Inc's current ratio?

Now Inc (DNOW) had a current ratio of 2.34 as of fiscal year 2025, which is generally considered healthy.

What is Now Inc's debt-to-equity ratio?

Now Inc (DNOW) had a debt-to-equity ratio of 0.18 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Now Inc's return on assets (ROA)?

Now Inc (DNOW) had a return on assets of -2.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Now Inc's Piotroski F-Score?

Now Inc (DNOW) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Now Inc's earnings high quality?

Now Inc (DNOW) has an earnings quality ratio of -1.74x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Now Inc?

Now Inc (DNOW) scores 43 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.