STOCK TITAN

Now Inc Financials

DNOW
Source SEC Filings (10-K/10-Q) Data as of Mar 31, 2026 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).

Rhea AI DNOW FY2025

FY2025 turned DNOW into a much larger but more asset-heavy business, with cash generation still positive as operating margins turned negative.

From FY2024 to FY2025, total assets expanded from $1.6B to $3.9B, while financing inflows, new debt, and a much larger share count show that the company was enlarged through balance-sheet funding rather than internal cash alone. That bigger footprint did not bring better unit economics: gross margin fell to 17.0% from 22.4%, and operating income moved from profit to loss.

FY2023 and FY2024 revealed a low-capex cash model: operating cash flow reached $188M and then $298M. With capital spending only $17M and $9M in those years, most operating cash remained available after maintenance needs instead of being reinvested just to keep the business standing still.

Short-term liquidity still looks comfortable because current assets of $2.3B outweighed current liabilities of $974M, even after the FY2025 expansion. But that cushion is less cash-rich than before: cash fell to $164M while inventory climbed to $1.2B, so more capital is tied up inside working stock.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 58 / 100
Financial Health Score 58/100

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 Now 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.

Profitability
37

Now Inc has an operating margin of -3.3%, meaning the company retains $-3 of operating profit per $100 of revenue. This results in a moderate score of 37/100, indicating healthy but not exceptional operating efficiency. This is down from 4.6% the prior year.

Growth
66

Now 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.

Leverage
75

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 75/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
65

With a current ratio of 2.34, Now Inc holds $2.34 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 65/100.

Cash Flow
59

Now Inc has a free cash flow margin of 4.8%, earning a moderate score of 59/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns
43

Now Inc's ROE of 0.0% shows moderate profitability relative to equity, earning a score of 43/100. This is up from 0.0% the prior year.

Altman Z-Score Distress
1.58

Now Inc scores 1.58, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($2.3B) 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.

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
-1741573.03x

For every $1 of reported earnings, Now Inc generates $-1741573.03 in operating cash flow ($155.0M OCF vs -$89 net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Key Financial Metrics

Export CSV

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
YoY-214.1%

Now Inc reported -$89 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
0.0%
YoY+0.0pp
5Y CAGR+26.4pp
10Y CAGR+16.7pp

Now Inc's net profit margin was 0.0% in fiscal year 2025, showing the share of revenue converted to profit. This is up 0.0 percentage points from the prior year.

Return on Equity
0.0%
YoY+0.0pp
5Y CAGR+61.1pp
10Y CAGR+35.8pp

Now Inc's ROE was 0.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 0.0 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 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Revenue $1.2B+23.4% $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
Cost of Revenue $990.0M+9.0% $908.0M+85.7% $489.0M+1.0% $484.0M+5.0% $461.0M+4.3% $442.0M-6.2% $471.0M-4.8% $495.0M
Gross Profit $193.0M+278.4% $51.0M-64.8% $145.0M+0.7% $144.0M+4.3% $138.0M+7.0% $129.0M-4.4% $135.0M-2.2% $138.0M
R&D Expenses N/A N/A N/A N/A N/A N/A N/A N/A
SG&A Expenses $243.0M N/A N/A N/A $109.0M N/A N/A N/A
Operating Income -$50.0M+73.3% -$187.0M-666.7% $33.0M+3.1% $32.0M+10.3% $29.0M+16.0% $25.0M+8.7% $23.0M-30.3% $33.0M
Interest Expense N/A N/A N/A N/A N/A N/A N/A N/A
Income Tax -$16.0M+51.5% -$33.0M-571.4% $7.0M0.0% $7.0M0.0% $7.0M+16.7% $6.0M-33.3% $9.0M+12.5% $8.0M
Net Income -$44.0M+38.0% -$71.0M-384.0% $25.0M0.0% $25.0M+19.0% $21.0M+136.2% -$58.0M-546.2% $13.0M-45.8% $24.0M
EPS (Diluted) $-0.24 N/A $0.230.0% $0.23+21.1% $0.19 N/A $0.12-42.9% $0.21

DNOW Balance Sheet

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Total Assets $3.9B+0.1% $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
Current Assets $2.3B-1.2% $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
Cash & Equivalents $116.0M-29.3% $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
Inventory $1.2B+0.1% $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
Accounts Receivable N/A N/A N/A N/A N/A N/A N/A N/A
Goodwill $652.0M+5.7% $617.0M+162.6% $235.0M0.0% $235.0M+2.2% $230.0M0.0% $230.0M+19.8% $192.0M0.0% $192.0M
Total Liabilities $1.8B+5.8% $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
Current Liabilities $929.0M-4.6% $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
Long-Term Debt $571.0M+38.9% $411.0M N/A N/A N/A $0 N/A N/A
Total Equity $2.1B-4.3% $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
Retained Earnings -$880.0M-5.3% -$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

DNOW Cash Flow Statement

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Operating Cash Flow -$95.0M-214.5% $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
Capital Expenditures $8.0M+14.3% $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
Free Cash Flow -$103.0M-235.5% $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
Investing Cash Flow -$53.0M+90.7% -$571.0M-18933.3% -$3.0M+72.7% -$11.0M-120.0% -$5.0M+95.6% -$114.0M-5600.0% -$2.0M $0
Financing Cash Flow $101.0M-73.7% $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
Dividends Paid N/A N/A N/A N/A N/A N/A N/A N/A
Share Buybacks $50.0M+400.0% $10.0M $0-100.0% $19.0M+137.5% $8.0M+60.0% $5.0M-28.6% $7.0M-30.0% $10.0M

DNOW Financial Ratios

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Gross Margin 16.3%+11.0pp 5.3%-17.5pp 22.9%-0.1pp 22.9%-0.1pp 23.0%+0.5pp 22.6%+0.3pp 22.3%+0.5pp 21.8%
Operating Margin -4.2%+15.3pp -19.5%-24.7pp 5.2%+0.1pp 5.1%+0.3pp 4.8%+0.5pp 4.4%+0.6pp 3.8%-1.4pp 5.2%
Net Margin -3.7%+3.7pp -7.4%-11.3pp 3.9%-0.0pp 4.0%+0.5pp 3.5%+13.7pp -10.2%-12.3pp 2.1%-1.6pp 3.8%
Return on Equity -2.1%+1.1pp -3.2%-5.3pp 2.1%-0.0pp 2.2%+0.3pp 1.8%+7.0pp -5.2%-6.3pp 1.2%-1.0pp 2.2%
Return on Assets -1.1%+0.7pp -1.8%-3.3pp 1.5%0.0pp 1.5%+0.2pp 1.3%+4.9pp -3.6%-4.4pp 0.8%-0.7pp 1.5%
Current Ratio 2.42+0.1 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
Debt-to-Equity 0.27+0.1 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
FCF Margin -8.7%-16.6pp 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%

Similar Companies

Frequently Asked Questions

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.

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

No, Now Inc (DNOW) reported a net income of -$89 in fiscal year 2025, with a net profit margin of 0.0%.

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

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

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.

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.

Now 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.

Now Inc (DNOW) has a return on equity of 0.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

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.

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

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

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

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

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

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

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.

Now 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.

Now Inc (DNOW) has an Altman Z-Score of 1.58, 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.

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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Now Inc (DNOW) has an earnings quality ratio of -1741573.03x, 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.

Now Inc (DNOW) scores 58 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.

Back to top