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Nabors Industrs Financials

NBRWF
Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE December

This page shows Nabors Industrs (NBRWF) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 19 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 NBRWF FY2025

Rising operating cash flow is being largely absorbed by heavier reinvestment, making this a profitable but increasingly capital-hungry business.

FY2025’s swing to net profit of $287M did not improve owner cash because operating cash flow rose to $693M while capital spending reached $716M. That extends a three-year pattern in which better operating results translated into less free cash as reinvestment intensified.

From FY2021 to FY2025, operating margin moved from -4.0% to 14.8% even with FY2024 revenue softer than FY2023, suggesting the earnings improvement came from a more efficient cost structure, not just higher volume. The gap between EBITDA and operating income was still about $649M in FY2025, which signals a business carrying a meaningful fixed asset burden.

The balance-sheet posture improved sharply in FY2025: debt-to-equity fell from 18.6x to 3.6x as total liabilities dropped by about $1.0B and equity rebuilt from $135M to $591M. Cash also rose to $941M, so liquidity is being supported by a real cash cushion even though current liabilities remain sizable at $993M.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 29 / 100
Financial Profile 29/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Nabors Industrs'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
55

Nabors Industrs has an operating margin of 14.8%, meaning the company retains $15 of operating profit per $100 of revenue. This results in a moderate score of 55/100, indicating healthy but not exceptional operating efficiency. This is up from 14.2% the prior year.

Growth
38

Nabors Industrs's revenue grew 8.7% year-over-year to $3.2B, a solid pace of expansion. This earns a growth score of 38/100.

Leverage
29

Nabors Industrs has elevated debt relative to equity (D/E of 3.58), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 29/100, reflecting increased financial risk.

Liquidity
27

Nabors Industrs's current ratio of 1.56 is below the typical benchmark, resulting in a score of 27/100. However, the company holds substantial cash reserves (95% of current liabilities), which buffers actual liquidity risk. Large mature operators often run tight current ratios by design.

Cash Flow
26

While Nabors Industrs generated $693.3M in operating cash flow, capex of $715.9M consumed most of it, leaving -$22.7M in free cash flow. This results in a low score of 26/100, reflecting heavy capital investment rather than weak cash generation.

Returns
0

Nabors Industrs generates a 48.5% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -130.4% the prior year.

Piotroski F-Score Neutral
6/9

Nabors Industrs passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed
2.42x

For every $1 of reported earnings, Nabors Industrs generates $2.42 in operating cash flow ($693.3M OCF vs $286.6M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Adequate
2.2x

Nabors Industrs earns $2.2 in operating income for every $1 of interest expense ($471.1M vs $215.4M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.

Key Financial Metrics

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Earnings & Revenue

Revenue
$3.2B
YoY+8.7%
5Y CAGR+8.3%
10Y CAGR-1.9%

Nabors Industrs generated $3.2B in revenue in fiscal year 2025. This represents an increase of 8.7% from the prior year.

EBITDA
$1.1B
YoY+6.7%
5Y CAGR+10.4%
10Y CAGR-1.4%

Nabors Industrs's EBITDA was $1.1B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 6.7% from the prior year.

Net Income
$286.6M
YoY+262.8%

Nabors Industrs reported $286.6M in net income in fiscal year 2025. This represents an increase of 262.8% from the prior year.

EPS (Diluted)
$17.39
YoY+177.7%

Nabors Industrs earned $17.39 per diluted share (EPS) in fiscal year 2025. This represents an increase of 177.7% from the prior year.

Cash & Balance Sheet

Free Cash Flow
-$22.7M
YoY-267.9%

Nabors Industrs generated -$22.7M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 267.9% from the prior year.

Cash & Debt
$940.7M
YoY+141.4%
5Y CAGR+14.8%
10Y CAGR+14.0%

Nabors Industrs held $940.7M in cash against $2.1B in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
16M
YoY+47.1%

Nabors Industrs had 16M shares outstanding in fiscal year 2025. This represents an increase of 47.1% from the prior year.

Margins & Returns

Gross Margin
N/A
Operating Margin
14.8%
YoY+0.6pp
5Y CAGR+22.8pp
10Y CAGR+6.6pp

Nabors Industrs's operating margin was 14.8% in fiscal year 2025, reflecting core business profitability. This is up 0.6 percentage points from the prior year.

Net Margin
9.0%
YoY+15.0pp
5Y CAGR+46.8pp
10Y CAGR+18.6pp

Nabors Industrs's net profit margin was 9.0% in fiscal year 2025, showing the share of revenue converted to profit. This is up 15.0 percentage points from the prior year.

Return on Equity
48.5%
YoY+179.0pp
5Y CAGR+118.5pp
10Y CAGR+57.2pp

Nabors Industrs's ROE was 48.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 179.0 percentage points from the prior year.

Capital Allocation

R&D Spending
$53.1M
YoY-7.0%
5Y CAGR+9.6%
10Y CAGR+2.5%

Nabors Industrs invested $53.1M in research and development in fiscal year 2025. This represents a decrease of 7.0% from the prior year.

Share Buybacks
N/A
Capital Expenditures
$715.9M
YoY+26.1%
5Y CAGR+29.6%
10Y CAGR-1.9%

Nabors Industrs invested $715.9M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 26.1% from the prior year.

NBRWF Income Statement

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Revenue $783.5M-1.8% $797.5M-2.5% $818.2M-1.8% $832.8M+13.1% $736.2M+0.9% $729.8M-0.3% $731.8M-0.4% $734.8M
Cost of Revenue N/A N/A N/A N/A N/A N/A $431.7M-1.9% $440.2M
Gross Profit N/A N/A N/A N/A N/A N/A $300.1M+1.9% $294.6M
R&D Expenses $13.5M+1.3% $13.3M+2.7% $13.0M+2.0% $12.7M-9.4% $14.0M-2.8% $14.4M+0.2% $14.4M+0.3% $14.4M
SG&A Expenses $71.8M-5.9% $76.3M-1.0% $77.1M-6.8% $82.7M+20.8% $68.5M+11.5% $61.4M-4.0% $64.0M+2.9% $62.2M
Operating Income $95.4M-43.3% $168.1M+31.6% $127.8M+74.1% $73.4M-27.9% $101.8M-46.3% $189.7M+79.1% $105.9M+82.8% $57.9M
Interest Expense $43.8M-13.6% $50.6M-6.8% $54.3M-3.1% $56.1M+3.2% $54.3M+1.3% $53.6M-3.1% $55.4M+7.5% $51.5M
Income Tax $16.9M+126.9% $7.4M-93.7% $117.6M+409.5% $23.1M+53.8% $15.0M-1.5% $15.2M+50.5% $10.1M-34.9% $15.6M
Net Income -$15.2M-246.6% $10.3M-96.2% $274.2M+987.1% -$30.9M-193.7% $33.0M+161.5% -$53.7M+3.9% -$55.8M-73.1% -$32.3M
EPS (Diluted) $-1.54 N/A $16.85+721.8% $-2.71-224.3% $2.18 N/A $-6.86-59.9% $-4.29

NBRWF Balance Sheet

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Total Assets $4.4B-8.4% $4.8B-0.9% $4.8B-4.1% $5.0B0.0% $5.0B+11.9% $4.5B-1.1% $4.6B-1.3% $4.6B
Current Assets $1.2B-25.7% $1.6B+8.9% $1.4B+19.0% $1.2B-0.2% $1.2B+19.9% $999.5M-6.8% $1.1B-0.5% $1.1B
Cash & Equivalents $500.8M-46.8% $940.7M+119.8% $428.1M+10.5% $387.3M-2.3% $396.5M+1.7% $389.7M-13.7% $451.6M-3.1% $466.0M
Inventory $90.2M-4.9% $94.8M-12.5% $108.3M+0.8% $107.5M-8.2% $117.0M-9.9% $130.0M-8.4% $141.9M-4.0% $147.8M
Accounts Receivable $417.7M+6.6% $391.7M-19.6% $487.1M-9.3% $537.1M-2.3% $549.6M+41.7% $388.0M+0.8% $384.7M+4.4% $368.6M
Goodwill N/A N/A N/A N/A N/A N/A N/A N/A
Total Liabilities $2.9B-12.2% $3.4B-21.2% $4.3B-10.1% $4.7B+0.7% $4.7B+7.5% $4.4B+0.2% $4.4B-0.1% $4.4B
Current Liabilities $585.2M-41.1% $993.0M+46.0% $680.2M+1.6% $669.4M+0.3% $667.6M+16.7% $571.9M+0.1% $571.6M-3.3% $590.9M
Long-Term Debt $2.1B+0.1% $2.1B-9.8% $2.3B-12.2% $2.7B-0.5% $2.7B+7.2% $2.5B+0.1% $2.5B-0.4% $2.5B
Total Equity $568.9M-3.7% $590.7M+1.9% $579.8M+88.2% $308.0M-10.1% $342.7M+153.8% $135.0M-29.5% $191.4M-23.6% $250.4M
Retained Earnings -$1.9B-1.2% -$1.8B+0.1% -$1.8B+12.6% -$2.1B-1.9% -$2.1B+1.2% -$2.1B-3.0% -$2.0B-3.2% -$2.0B

NBRWF Cash Flow Statement

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Operating Cash Flow $113.3M-53.9% $245.8M+18.3% $207.9M+36.9% $151.8M+73.0% $87.7M-41.1% $148.9M+3.7% $143.6M-20.9% $181.7M
Capital Expenditures $165.0M+1.8% $162.1M-13.8% $188.1M-5.3% $198.5M+20.4% $165.0M-20.7% $208.0M+76.4% $117.9M-14.7% $138.3M
Free Cash Flow -$51.6M-161.6% $83.8M+322.6% $19.8M+142.4% -$46.7M+39.5% -$77.2M-30.6% -$59.1M-330.0% $25.7M-40.8% $43.4M
Investing Cash Flow -$169.5M-219.8% $141.4M-15.0% $166.5M+222.5% -$135.9M-81.5% -$74.9M+63.0% -$202.2M-60.4% -$126.1M-4.7% -$120.5M
Financing Cash Flow -$383.2M-1305.3% -$27.3M+94.7% -$518.2M-2572.4% -$19.4M-890.3% -$2.0M-6892.9% -$28K+99.9% -$25.7M-1984.7% -$1.2M
Dividends Paid N/A N/A N/A N/A N/A $0 $0 $0
Share Buybacks N/A N/A N/A N/A N/A N/A N/A N/A

NBRWF Financial Ratios

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Gross Margin N/A N/A N/A N/A N/A N/A 41.0%+0.9pp 40.1%
Operating Margin 12.2%-8.9pp 21.1%+5.5pp 15.6%+6.8pp 8.8%-5.0pp 13.8%-12.2pp 26.0%+11.5pp 14.5%+6.6pp 7.9%
Net Margin -1.9%-3.2pp 1.3%-32.2pp 33.5%+37.2pp -3.7%-8.2pp 4.5%+11.8pp -7.3%+0.3pp -7.6%-3.2pp -4.4%
Return on Equity -2.7%-4.4pp 1.8%-45.5pp 47.3%+57.3pp -10.0%-19.7pp 9.6%+49.4pp -39.8%-10.6pp -29.2%-16.3pp -12.9%
Return on Assets -0.4%-0.6pp 0.2%-5.5pp 5.7%+6.3pp -0.6%-1.3pp 0.7%+1.8pp -1.2%+0.0pp -1.2%-0.5pp -0.7%
Current Ratio 1.97+0.4 1.56-0.5 2.09+0.3 1.790.0 1.80+0.0 1.75-0.1 1.88+0.1 1.82
Debt-to-Equity 3.72+0.1 3.58-0.5 4.05-4.6 8.68+0.8 7.84-10.7 18.56+5.5 13.08+3.0 10.04
FCF Margin -6.6%-17.1pp 10.5%+8.1pp 2.4%+8.0pp -5.6%+4.9pp -10.5%-2.4pp -8.1%-11.6pp 3.5%-2.4pp 5.9%

Frequently Asked Questions

Nabors Industrs (NBRWF) reported $3.2B in total revenue for fiscal year 2025. This represents a 8.7% 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.

Nabors Industrs (NBRWF) revenue grew by 8.7% year-over-year, from $2.9B to $3.2B in fiscal year 2025.

Yes, Nabors Industrs (NBRWF) reported a net income of $286.6M in fiscal year 2025, with a net profit margin of 9.0%.

Nabors Industrs (NBRWF) reported diluted earnings per share of $17.39 for fiscal year 2025. This represents a 177.7% 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.

Nabors Industrs (NBRWF) had EBITDA of $1.1B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2025, Nabors Industrs (NBRWF) had $940.7M in cash and equivalents against $2.1B in long-term debt.

Nabors Industrs (NBRWF) had an operating margin of 14.8% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Nabors Industrs (NBRWF) had a net profit margin of 9.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Nabors Industrs (NBRWF) has a return on equity of 48.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Nabors Industrs (NBRWF) generated -$22.7M in free cash flow during fiscal year 2025. This represents a -267.9% 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.

Nabors Industrs (NBRWF) generated $693.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Nabors Industrs (NBRWF) had $4.8B in total assets as of fiscal year 2025, including both current and long-term assets.

Nabors Industrs (NBRWF) invested $715.9M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Nabors Industrs (NBRWF) invested $53.1M in research and development during fiscal year 2025.

Nabors Industrs (NBRWF) had 16M shares outstanding as of fiscal year 2025.

Nabors Industrs (NBRWF) had a current ratio of 1.56 as of fiscal year 2025, which is generally considered healthy.

Nabors Industrs (NBRWF) had a debt-to-equity ratio of 3.58 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Nabors Industrs (NBRWF) had a return on assets of 6.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Nabors Industrs (NBRWF) has a Piotroski F-Score of 6 out of 9, indicating neutral 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.

Nabors Industrs (NBRWF) has an earnings quality ratio of 2.42x, considered cash-backed (high 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.

Nabors Industrs (NBRWF) has an interest coverage ratio of 2.2x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

Nabors Industrs (NBRWF) scores 29 out of 100 on our Financial Profile, indicating weak 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.

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