Nine Energy Serv (NINEQ) Financials
Newest figures come from the 10-Q for Q1 FY2026, filed May 13, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the NINEQ SEC filings page.
Nine Energy Serv (NINEQ) reported $499.8M in revenue over the twelve months to Mar 5, 2026, down 11.1% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 10 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).
Revenue is broadly stable, but shrinking operating profit and heavier financing leave the business with negative equity.
FY2025 operating cash flow was-$7.3M while free cash flow was-$23.3M , so reported operations did not fund capital spending. Both measures had been positive in FY2023, making cash generation reversal a central change in how earnings translate into cash.
Revenue increased
Liabilities were
Financial Health Signals
We do not publish a peer-relative financial health score for Nine Energy Serv, because the score only covers companies whose filings and listing give us what it needs to compare them with their peers. The signals and metrics below are current.
Nine Energy Serv passes 2 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), the one computable operating efficiency signal (asset turnover improving) passes.
Nine Energy Serv reported a net loss of $51.3M while operations used $7.3M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Nine Energy Serv earns $0.04 in operating income for every $1 of interest expense ($2.3M vs $55.2M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Nine Energy Serv generated $88.4M in revenue in Q1 2026. This represents a decrease of 41.3% from the same quarter a year earlier.
Nine Energy Serv's EBITDA was -$5.1M in Q1 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 135.5% from the same quarter a year earlier.
Nine Energy Serv reported $107.9M in net income in Q1 2026. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative.
Cash & Balance Sheet
Nine Energy Serv recorded an outflow of $12.9M in free cash flow in Q1 2026, representing a cash shortfall after capex. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative.
Nine Energy Serv held $11.2M in cash against $90.4M in long-term debt as of Q1 2026.
Not reported for Q1 2026.
Margins & Returns
Nine Energy Serv's operating margin was -12.4% in Q1 2026, reflecting core business profitability. This is down 16.2 percentage points from the same quarter a year earlier.
Nine Energy Serv's quarterly ROE was 80.5% in Q1 2026: one quarter's net income over shareholder equity, not annualized.
Not reported for Q1 2026.
Not shown for Q1 2026: the reported ratio is above 100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Nine Energy Serv invested $3.0M in capex in Q1 2026, funding long-term assets and infrastructure. This represents a decrease of 25.9% from the same quarter a year earlier.
Not reported for Q1 2026.
Not reported for Q1 2026.
NINEQ 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 | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $88.4M-41.3% | $132.2M-6.5% | $132.0M-4.4% | $147.3M+11.2% | $150.5M+5.9% | $141.4M-1.8% | $138.2M-1.7% | $132.4M-18.0% |
| SG&A Expenses | $13.1M-1.6% | $19.9M+40.0% | $12.8M+3.2% | $13.9M+11.2% | $13.3M+8.1% | $14.2M+10.7% | $12.4M-5.3% | $12.5M-12.3% |
| Operating Income | -$11.0M-295.5% | -$5.5M-256.6% | -$1.2M-147.6% | $3.4Mn/m | $5.6M+27.4% | $3.5M+59.9% | $2.5Mn/m | -$1.4M-115.4% |
| EBITDA | -$5.1M-135.5% | N/A | N/A | N/A | $14.3M+2.2% | N/A | N/A | N/A |
| Interest Expense | $5.3M-59.2% | $13.9M+7.9% | $13.7M+6.5% | $14.7M+15.2% | $12.9M+0.7% | $12.9M+0.4% | $12.9M+0.2% | $12.8M-1.6% |
| Income Tax | $109K-5.2% | $115Kn/m | $53K-27.4% | -$454K-426.6% | $115K-25.3% | -$168K-198.2% | $73K-66.0% | $139Kn/m |
| Net Income | $107.9Mn/m | -$19.2Mn/m | -$14.6Mn/m | -$10.4Mn/m | -$7.1Mn/m | -$8.8Mn/m | -$10.1Mn/m | -$14.0Mn/m |
| EPS (Basic) | $2.65 | N/A | -$0.35n/m | -$0.25n/m | -$0.18n/m | N/A | -$0.26n/m | -$0.40n/m |
| EPS (Diluted) | $2.65 | N/A | -$0.35n/m | -$0.25n/m | -$0.18n/m | N/A | -$0.26n/m | -$0.40n/m |
| Diluted Shares (Avg) | 41M | N/A | 41M+5.3% | 41M+15.2% | 40M+18.7% | N/A | 39M+16.5% | 35M+6.6% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses.
NINEQ 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 | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $326.0M-9.2% | $339.5M-5.7% | $340.7M-3.5% | $361.2M-5.4% | $359.2M-5.6% | $360.1M-10.4% | $353.2M-8.7% | $381.7M-12.9% |
| Current Assets | $174.9M+0.2% | $168.8M-1.0% | $162.9M+3.4% | $175.7M-1.5% | $174.6M+4.1% | $170.5M-7.2% | $157.6M-3.0% | $178.3M-14.2% |
| Cash & Equivalents | $11.2M-34.9% | $18.4M-33.8% | $14.4M-8.1% | $14.2M-45.4% | $17.3M+68.8% | $27.9M-9.6% | $15.7M+28.7% | $26.0M-36.7% |
| Inventory | $50.5M-1.2% | $56.6M+11.4% | $56.8M+1.7% | $54.2M-9.2% | $51.2M-9.1% | $50.8M-6.8% | $55.8M-4.8% | $59.7M-5.8% |
| Accounts Receivable | $88.3M-7.2% | $76.0M-6.4% | $81.4M+2.1% | $94.0M+11.4% | $95.1M+4.6% | $81.2M-8.2% | $79.7M-6.3% | $84.4M-11.1% |
| Total Liabilities | $192.1M-55.5% | $454.4M+6.6% | $436.6M+6.3% | $442.9M+2.7% | $431.3M+1.8% | $426.1M-2.6% | $410.8M-0.5% | $431.4M-4.5% |
| Current Liabilities | $82.0M-4.7% | $91.4M+12.1% | $73.8M+15.1% | $93.9M+13.2% | $86.0M+16.5% | $81.5M-1.5% | $64.1M+10.3% | $83.0M-1.0% |
| Non-Current Liabilities | $110.1M-68.1% | $363.0M+5.3% | $362.8M+4.6% | $349.0M+0.1% | $345.3M-1.3% | $344.6M-2.9% | $346.7M-2.3% | $348.5M-5.3% |
| Long-Term Debt | $90.4M-71.7% | $341.6M+7.7% | $339.4M+6.6% | $323.5M+1.5% | $319.1M+0.6% | $317.3M-1.0% | $318.5M-0.2% | $318.7M-4.2% |
| Total Equity | $134.0Mn/m | -$115.0Mn/m | -$95.9Mn/m | -$81.7Mn/m | -$72.1Mn/m | -$66.1Mn/m | -$57.6Mn/m | -$49.7Mn/m |
| Retained Earnings | -$1.3Mn/m | -$918.6Mn/m | -$899.4Mn/m | -$884.8Mn/m | -$874.4Mn/m | -$867.3Mn/m | -$858.5Mn/m | -$848.3Mn/m |
Not reported in any period shown, so not listed: Short-Term Investments, Long-Term Investments, Goodwill.
NINEQ 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 | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$10.0Mn/m | -$2.2M-114.5% | -$9.9Mn/m | $10.1M-21.8% | -$5.3Mn/m | $15.0M-38.4% | -$5.8Mn/m | $12.9M-52.5% |
| Depreciation & Amortization | $5.9M-31.1% | N/A | N/A | N/A | $8.6M-9.4% | N/A | N/A | N/A |
| Stock-Based Compensation | $1.9M+152.0% | N/A | N/A | N/A | $750K+29.1% | N/A | N/A | N/A |
| Capital Expenditures | $3.0M-25.9% | $2.6M-18.9% | $3.5M+2.1% | $5.9M+122.5% | $4.0M-27.5% | $3.2M-62.0% | $3.4M-9.9% | $2.6M-55.8% |
| Free Cash Flow | -$12.9Mn/m | -$4.8M-140.8% | -$13.4Mn/m | $4.2M-58.9% | -$9.3Mn/m | $11.8M-25.6% | -$9.3Mn/m | $10.3M-51.5% |
| Investing Cash Flow | -$2.0Mn/m | -$432Kn/m | -$3.4Mn/m | -$5.8Mn/m | -$4.0Mn/m | -$3.0Mn/m | -$3.1Mn/m | -$2.6Mn/m |
| Financing Cash Flow | $20.5Mn/m | $6.3M+1355.7% | $12.0Mn/m | -$3.9M-171.1% | -$1.6Mn/m | $433K-84.0% | -$1.4Mn/m | $5.5Mn/m |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
NINEQ 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 | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | -12.4%-16.2pp | -4.2%-6.6pp | -0.9%-2.7pp | 2.3%+3.4pp | 3.7%+0.6pp | 2.5%+1.0pp | 1.8%+2.4pp | -1.1%-6.9pp |
| Net Margin | 122.0% | -14.5%-8.3pp | -11.1%-3.7pp | -7.1%+3.5pp | -4.7%+1.0pp | -6.3%+0.9pp | -7.3%+2.1pp | -10.6%-9.0pp |
| Return on Equity | 80.5% | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | 33.1%+35.1pp | -5.7%-3.2pp | -4.3%-1.4pp | -2.9%+0.8pp | -2.0%+0.2pp | -2.5%+0.1pp | -2.9%+0.6pp | -3.7%-3.1pp |
| Current Ratio | 2.13+0.1x | 1.85-0.2x | 2.21-0.3x | 1.87-0.3x | 2.03-0.2x | 2.09-0.1x | 2.46-0.3x | 2.15-0.3x |
| Debt-to-Equity | 0.68 | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Liabilities-to-Equity | 1.43 | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Asset Turnover | 0.27-0.1x | 0.390.0x | 0.390.0x | 0.41+0.1x | 0.420.0x | 0.390.0x | 0.390.0x | 0.350.0x |
| FCF Margin | -14.6%-8.4pp | -3.6%-11.9pp | -10.2%-3.5pp | 2.9%-4.9pp | -6.2%+3.9pp | 8.3%-2.7pp | -6.7%+3.0pp | 7.8%-5.4pp |
Not reported in any period shown, so not listed: Gross Margin.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Net Margin.
Note: Shareholder equity is negative (-$115.0M), which causes the debt-to-equity, liabilities-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
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. Market cap is stated at each company's latest close.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Nine Energy Serv NINEQ | FY2025 | $561.9M | -$51.3M | -9.1% | N/A | — |
| Tenaris SA TNRSF | FY2025 | $12.0B | $1.9B | 16.1% | $29.4B | — |
Where Nine Energy Serv Ranks
Frequently Asked Questions
Nine Energy Serv (NINEQ) reported $561.9M in total revenue for fiscal year 2025. This represents a 1.4% 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.
Nine Energy Serv (NINEQ) revenue grew by 1.4% year-over-year, from $554.1M to $561.9M in fiscal year 2025.
Yes, Nine Energy Serv (NINEQ) reported a net income of $63.6M over the trailing 12 months to March 5, 2026. In fiscal year 2025 it reported a net loss of $51.3M, with a net profit margin of -9.1%.
Nine Energy Serv (NINEQ) had EBITDA of $36.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
As of fiscal year 2025, Nine Energy Serv (NINEQ) had $18.4M in cash and equivalents against $341.6M in long-term debt.
Nine Energy Serv (NINEQ) had an operating margin of 0.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
Nine Energy Serv (NINEQ) had a net profit margin of -9.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Nine Energy Serv (NINEQ) recorded an outflow of $23.3M in free cash flow during fiscal year 2025. The change from the previous fiscal year is not meaningful, because that year’s figure was zero or negative. 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.
Nine Energy Serv (NINEQ) recorded an outflow of $7.3M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
Nine Energy Serv (NINEQ) had $339.5M in total assets as of fiscal year 2025, including both current and long-term assets.
Nine Energy Serv (NINEQ) invested $15.9M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
Nine Energy Serv (NINEQ) had a current ratio of 1.85 as of fiscal year 2025, which is generally considered healthy.
Nine Energy Serv (NINEQ) had a return on assets of -15.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
At the end of fiscal year 2025, Nine Energy Serv (NINEQ) held $18.4M in cash, cash equivalents and investments, and reported an operating cash outflow of $7.3M over that year. Dividing the one by the other, the reported balance equals about 30 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
Nine Energy Serv (NINEQ) has negative shareholder equity of -$115.0M as of fiscal year 2025, so no debt-to-equity or liabilities-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
Nine Energy Serv (NINEQ) has a Piotroski F-Score of 2 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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.
Nine Energy Serv (NINEQ) reported a net loss of $51.3M while operations used $7.3M of cash. With neither figure positive, 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.
Nine Energy Serv (NINEQ) has an interest coverage ratio of 0.04x, meaning it can struggle to 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.