DNOW Inc. (DNOW) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 13, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 6, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the DNOW SEC filings page.
DNOW Inc. (DNOW) reported $4.1B in revenue over the twelve months to Jun 30, 2026, up 69.8% from the prior twelve months. This page shows its 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).
DNOW’s 2025 scale-up produced more sales but less gross profit, while cash generation remained positive and the balance sheet expanded sharply.
In FY2025, revenue rose19.0% while gross margin fell to17.0% , showing that added volume did not translate into better unit economics. Operating cash flow remained positive at$155M despite an operating loss, but was roughly half FY2024’s$298M , so cash conversion weakened as reported profitability turned negative.
Total assets expanded from
The financing posture also shifted: debt was absent in FY2024 and reached
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of DNOW Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
DNOW Inc. has an operating margin of -3.3%, meaning the company loses $3 on every $100 of revenue. This results in a profitability score of 34/100. This is down from 4.6% the prior year.
DNOW Inc.'s revenue surged 18.8% year-over-year to $2.8B, reflecting rapid business expansion. This strong growth earns a score of 66/100.
DNOW 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 76/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 2.34, DNOW Inc. holds $2.34 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 67/100.
DNOW Inc. has a free cash flow margin of 4.8%, earning a moderate score of 57/100. The company generates positive cash flow after capital investments, but with room for improvement.
DNOW Inc.'s ROE of 0.0% shows moderate profitability relative to equity, earning a score of 41/100. This is unchanged from the prior year.
DNOW Inc. scores 1.72, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($2.7B) relative to total liabilities ($1.7B). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
DNOW 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.
DNOW Inc. reported a net loss of $89 while generating $155.0M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
DNOW Inc. generated $1.3B in revenue in Q2 2026. This represents an increase of 108.1% from the same quarter a year earlier. Against the prior quarter it is up 10.5%.
DNOW Inc.'s EBITDA was $24.0M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 11.1% from the same quarter a year earlier. Against the prior quarter it is up 188.9%.
DNOW Inc. reported -$21.0M in net income in Q2 2026. This represents a decrease of 250.0% from the same quarter a year earlier. Against the prior quarter it is up 52.3%.
DNOW Inc. earned -$0.11 per diluted share (EPS) in Q2 2026. Against the prior quarter it is up 54.2%.
Cash & Balance Sheet
DNOW Inc. generated $124.0M in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 202.4% from the same quarter a year earlier. Against the prior quarter it is up 220.4%.
DNOW Inc. held $114.0M in cash against $474.0M in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Margins & Returns
DNOW Inc.'s gross margin was 18.6% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 1.9 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.3 percentage points.
DNOW Inc.'s operating margin was 0.1% in Q2 2026, reflecting core business profitability. This is down 2.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 4.3 percentage points.
DNOW Inc.'s net profit margin was -1.6% in Q2 2026, showing the share of revenue converted to profit. This is down 3.8 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.1 percentage points.
DNOW Inc.'s ROE was -1.0% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 2.2 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.1 percentage points.
Capital Allocation
DNOW Inc. spent $25.0M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. This represents an increase of 31.6% from the same quarter a year earlier. Against the prior quarter it is down 50.0%.
DNOW Inc. invested $9.0M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 125.0% from the same quarter a year earlier. Against the prior quarter it is up 12.5%.
Not reported for Q2 2026.
DNOW Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.3B+108.1% | $1.2B+97.5% | $959.0M+68.0% | $634.0M+4.6% | $628.0M-0.8% | $599.0M+6.4% | $571.0M+2.9% | $606.0M+3.1% |
| Cost of Revenue | $1.1B+113.2% | $990.0M+114.8% | $893.0M+102.0% | $489.0M+3.8% | $499.0M+0.8% | $461.0M+6.2% | $442.0M+5.0% | $471.0M+3.7% |
| Gross Profit | $243.0M+88.4% | $193.0M+39.9% | $66.0M-48.8% | $145.0M+7.4% | $129.0M-6.5% | $138.0M+7.0% | $129.0M-3.7% | $135.0M+0.7% |
| SG&A Expenses | $238.0M+112.5% | $243.0M+122.9% | N/A | N/A | $112.0M | $109.0M | N/A | N/A |
| Operating Income | $1.0M-94.1% | -$50.0M-272.4% | -$172.0M-788.0% | $33.0M+43.5% | $17.0M-48.5% | $29.0M+3.6% | $25.0M-30.6% | $23.0M-37.8% |
| EBITDA | $24.0M-11.1% | -$27.0M-167.5% | -$152.0M-534.3% | $44.0M+41.9% | $27.0M-35.7% | $40.0M+14.3% | $35.0M-18.6% | $31.0M-29.5% |
| Income Tax | $12.0M+300.0% | -$16.0M-328.6% | -$29.0M-583.3% | $7.0M-22.2% | $3.0M-62.5% | $7.0M-12.5% | $6.0M+105.2% | $9.0M+350.0% |
| Net Income | -$21.0M-250.0% | -$44.0M-309.5% | -$60.0M-3.4% | $25.0M+92.3% | $14.0M-41.7% | $21.0M0.0% | -$58.0M+42.0% | $13.0M-62.9% |
| EPS (Basic) | -$0.11-184.6% | -$0.24-226.3% | -$1.42-745.5% | $0.23+91.7% | $0.13-38.1% | $0.19-5.0% | $0.22-83.7% | $0.12-62.5% |
| EPS (Diluted) | -$0.11 | -$0.24 | -$1.42-776.2% | $0.23+91.7% | $0.13-38.1% | $0.190.0% | $0.21-84.3% | $0.12-62.5% |
| Diluted Shares (Avg) | 182M | 186M | N/A | 106M-1.3% | 106M-1.5% | 107M-0.6% | N/A | 107M-1.0% |
Not reported in any period shown, so not listed: R&D Expenses, Interest Expense.
DNOW Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $3.8B+129.7% | $3.9B+137.9% | $3.9B+142.1% | $1.7B+4.6% | $1.7B+6.3% | $1.7B+3.6% | $1.6B+5.8% | $1.6B+15.3% |
| Current Assets | $2.1B+96.0% | $2.3B+110.9% | $2.3B+121.6% | $1.1B+3.6% | $1.1B+5.6% | $1.1B+2.1% | $1.0B-3.7% | $1.1B+2.4% |
| Cash & Equivalents | $114.0M-50.9% | $116.0M-47.0% | $164.0M-35.9% | $266.0M+1.9% | $232.0M+17.8% | $219.0M+16.5% | $256.0M-14.4% | $261.0M+34.5% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $1.1B+177.3% | $1.2B+209.9% | $1.2B+238.6% | $377.0M+3.6% | $383.0M-4.0% | $385.0M-10.0% | $352.0M-3.8% | $364.0M-12.3% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $700.0M+197.9% | $652.0M+183.5% | $617.0M+168.3% | $235.0M+22.4% | $235.0M+22.4% | $230.0M+19.8% | $230.0M+65.5% | $192.0M+37.1% |
| Total Liabilities | $1.7B+243.6% | $1.8B+251.9% | $1.7B+242.0% | $475.0M+1.3% | $500.0M+7.8% | $507.0M-1.6% | $493.0M+5.8% | $469.0M0.0% |
| Current Liabilities | $991.0M+117.8% | $929.0M+102.0% | $974.0M+120.4% | $435.0M+4.3% | $455.0M+10.4% | $460.0M-0.4% | $442.0M+5.7% | $417.0M-1.4% |
| Non-Current Liabilities | $727.0M+1515.6% | $855.0M+1719.1% | $712.0M+1296.1% | $40.0M-23.1% | $45.0M-13.5% | $47.0M-11.3% | $51.0M+6.3% | $52.0M+13.0% |
| Long-Term Debt | $474.0M | $571.0M | $411.0M | N/A | N/A | N/A | $0 | N/A |
| Total Equity | $2.1B+81.1% | $2.1B+87.7% | $2.2B+98.7% | $1.2B+6.1% | $1.2B+5.6% | $1.1B+5.9% | $1.1B+6.0% | $1.1B+23.2% |
| Retained Earnings | -$901.0M-28.7% | -$880.0M-21.4% | -$836.0M-11.9% | -$675.0M+12.3% | -$700.0M+10.6% | -$725.0M+10.2% | -$747.0M+9.8% | -$770.0M+21.0% |
Not reported in any period shown, so not listed: Accounts Receivable.
DNOW Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $133.0M+195.6% | -$95.0M-493.8% | $83.0M-32.0% | $43.0M-41.9% | $45.0M+114.3% | -$16.0M-119.8% | $122.0M+16.2% | $74.0M+1750.0% |
| Depreciation & Amortization | $23.0M+130.0% | $23.0M+109.1% | $20.0M+100.0% | $11.0M+37.5% | $10.0M+11.1% | $11.0M+57.1% | $10.0M+42.9% | $8.0M+14.3% |
| Stock-Based Compensation | $5.0M+25.0% | $5.0M+25.0% | N/A | $4.0M+33.3% | $4.0M0.0% | $4.0M+100.0% | N/A | $3.0M-25.0% |
| Capital Expenditures | $9.0M+125.0% | $8.0M+33.3% | $7.0M+133.3% | $4.0M+100.0% | $4.0M+33.3% | $6.0M+500.0% | $3.0M+50.0% | $2.0M-50.0% |
| Free Cash Flow | $124.0M+202.4% | -$103.0M-368.2% | $76.0M-36.1% | $39.0M-45.8% | $41.0M+127.8% | -$22.0M-127.5% | $119.0M+15.5% | $72.0M |
| Investing Cash Flow | -$8.0M+27.3% | -$53.0M-960.0% | -$571.0M-400.9% | -$3.0M-50.0% | -$11.0M | -$5.0M+97.3% | -$114.0M-11300.0% | -$2.0M+50.0% |
| Financing Cash Flow | -$125.0M-443.5% | $101.0M+694.1% | $384.0M+4900.0% | -$5.0M+50.0% | -$23.0M-109.1% | -$17.0M-325.0% | -$8.0M-700.0% | -$10.0M-42.9% |
| Share Buybacks | $25.0M+31.6% | $50.0M+525.0% | $10.0M+100.0% | $0-100.0% | $19.0M+90.0% | $8.0M+700.0% | $5.0M+400.0% | $7.0M+40.0% |
Not reported in any period shown, so not listed: Dividends Paid.
DNOW Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 18.6%-1.9pp | 16.3%-6.7pp | 6.9%-15.7pp | 22.9%+0.6pp | 20.5%-1.3pp | 23.0%+0.1pp | 22.6%-1.6pp | 22.3%-0.5pp |
| Operating Margin | 0.1%-2.6pp | -4.2%-9.1pp | -17.9%-22.3pp | 5.2%+1.4pp | 2.7%-2.5pp | 4.8%-0.1pp | 4.4%-2.1pp | 3.8%-2.5pp |
| Net Margin | -1.6%-3.8pp | -3.7%-7.2pp | -6.3%+3.9pp | 3.9%+1.8pp | 2.2%-1.6pp | 3.5%-0.2pp | -10.2%+7.9pp | 2.1%-3.8pp |
| Return on Equity | -1.0%-2.2pp | -2.1%-3.9pp | -2.7%+2.5pp | 2.1%+0.9pp | 1.2%-1.0pp | 1.8%-0.1pp | -5.2%+4.3pp | 1.2%-2.7pp |
| Return on Assets | -0.5%-1.4pp | -1.1%-2.4pp | -1.5%+2.0pp | 1.5%+0.7pp | 0.8%-0.7pp | 1.3%-0.1pp | -3.6%+2.9pp | 0.8%-1.7pp |
| Current Ratio | 2.14-0.2x | 2.42+0.1x | 2.340.0x | 2.520.0x | 2.37-0.1x | 2.32+0.1x | 2.33-0.2x | 2.54+0.1x |
| Debt-to-Equity | 0.23-0.2x | 0.27-0.2x | 0.18+0.2x | 0.400.0x | 0.430.0x | 0.450.0x | 0.00-0.4x | 0.42-0.1x |
| Asset Turnover | 0.340.0x | 0.30-0.1x | 0.24-0.1x | 0.380.0x | 0.380.0x | 0.360.0x | 0.350.0x | 0.380.0x |
| FCF Margin | 9.5%+3.0pp | -8.7%-5.0pp | 7.9%-12.9pp | 6.2%-5.7pp | 6.5%+3.7pp | -3.7%-17.9pp | 20.8%+2.3pp | 11.9%+11.9pp |
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| DNOW Inc. DNOW | FY2025 | $2.8B | -$89 | 0.0% | $2.7B | 57/100 |
| DXP Enterprises Inc DXPE | FY2025 | $2.0B | $88.7M | 4.4% | $2.8B | 59/100 |
| Global Industrial Company GIC | FY2025 | $1.4B | $72.1M | 5.2% | $1.6B | 60/100 |
| Distribution Solutions Group, Inc. DSGR | FY2025 | $2.0B | $8.3M | 0.4% | $1.6B | 52/100 |
| BlueLinx Holdings Inc. BXC | FY2025 | $3.0B | $219K | 0.0% | $556.2M | 55/100 |
| Titan Machinery Inc. TITN | FY2026 | $2.4B | -$54.2M | -2.2% | $532.5M | 24/100 |
Where DNOW Inc. Ranks
Frequently Asked Questions
What is DNOW Inc.'s annual revenue?
DNOW 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 DNOW Inc.'s revenue growing?
DNOW Inc. (DNOW) revenue grew by 18.8% year-over-year, from $2.4B to $2.8B in fiscal year 2025.
Is DNOW Inc. profitable?
No, DNOW Inc. (DNOW) reported a net income of -$89 in fiscal year 2025, with a net profit margin of 0.0%.
What is DNOW Inc.'s EBITDA?
DNOW Inc. (DNOW) had EBITDA of -$41.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does DNOW Inc. have?
As of fiscal year 2025, DNOW Inc. (DNOW) had $164.0M in cash and equivalents against $411.0M in long-term debt.
What is DNOW Inc.'s gross margin?
DNOW 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 DNOW Inc.'s operating margin?
DNOW 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 DNOW Inc.'s net profit margin?
DNOW Inc. (DNOW) had a net profit margin of 0.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is DNOW Inc.'s return on equity (ROE)?
DNOW Inc. (DNOW) has a return on equity of 0.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is DNOW Inc.'s free cash flow?
DNOW 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 DNOW Inc.'s operating cash flow?
DNOW Inc. (DNOW) generated $155.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are DNOW Inc.'s total assets?
DNOW Inc. (DNOW) had $3.9B in total assets as of fiscal year 2025, including both current and long-term assets.
What are DNOW Inc.'s capital expenditures?
DNOW Inc. (DNOW) invested $21.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is DNOW Inc.'s current ratio?
DNOW Inc. (DNOW) had a current ratio of 2.34 as of fiscal year 2025, which is generally considered healthy.
What is DNOW Inc.'s debt-to-equity ratio?
DNOW 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 DNOW Inc.'s return on assets (ROA)?
DNOW Inc. (DNOW) had a return on assets of 0.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is DNOW Inc.'s P/E ratio?
DNOW Inc. (DNOW) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $2.7B as of Oct 13, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is DNOW Inc.'s price-to-sales ratio?
DNOW Inc. (DNOW) trades at 0.7x sales, its market capitalization divided by revenue of $4.1B revenue, trailing 12 months to June 30, 2026. The market capitalization is $2.7B as of Oct 13, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is DNOW Inc.'s Altman Z-Score?
DNOW Inc. (DNOW) has an Altman Z-Score of 1.72, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is DNOW Inc.'s Piotroski F-Score?
DNOW 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are DNOW Inc.'s earnings high quality?
DNOW Inc. (DNOW) reported a net loss of $89 while generating $155.0M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. 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 DNOW Inc.?
DNOW Inc. (DNOW) scores 57 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.