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1. Company Snapshot

1.a. Company Description

National Energy Services Reunited Corp.provides oilfield services to oil and gas companies in the Middle East, North Africa, and the Asia Pacific regions.It operates through two segments, Production Services; and Drilling and Evaluation Services.


The Production Services segment offers hydraulic fracturing services; coiled tubing services, including nitrogen lifting, fishing, milling, clean-out, scale removal, and other well applications; stimulation and pumping services; primary and remedial cementing services; nitrogen services; filtration services, as well as frac tanks and pumping units; and pipeline services, such as water filling and hydro testing, nitrogen purging, and de-gassing and pressure testing, as well as cutting/welding and cooling down piping/vessels systems.It also provides production assurance chemicals; laboratory services; artificial lift services; and surface and subsurface safety systems, high-pressure packer systems, flow controls, service tools, expandable liner technology, vacuum insulated tubing technology, and engineering capabilities with manufacturing capacity and testing facilities, as well as sources, treats, and disposes water for oil and gas, municipal, and industrial use.The Drilling and Evaluation Services segment offers drilling and workover rigs; rig services; fishing and remedial solutions; directional and turbines drilling services; drilling fluid systems and related technologies; wireline logging services; slickline services for removal of scale, wax and sand build-up, setting plugs, changing out gas lift valves, and fishing and other well applications; and well testing services to measure solids, gas, and oil and water produced from a well, as well as rents drilling tools.


It also provides oilfield solutions for thru-tubing intervention; tubular running services; and a range of wellhead products, flow control equipment, and frac equipment.The company was incorporated in 2017 and is headquartered in Houston, Texas.

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1.b. Last Insights on NESR

National Energy Services Reunited Corp.'s recent performance was driven by strong quarterly results, with Q3 earnings of $0.16 per share beating estimates. The company's revenue reached $295.3 million, with net income up 16.7% sequentially. A multi-billion dollar contract with Saudi Aramco for completion services in unconventional plays supports future growth. Analysts have a "Moderate Buy" consensus rating, with six buy ratings and two hold ratings. The company's focus on the Middle East and North Africa shields it from oil price downturns.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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Why One Hedge Fund Boosted Its $15 Million NESR Stake Amid a Steep Stock Surge

Dec -04

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National Energy Services Reunited (NASDAQ:NESR) vs. NOV (NYSE:NOV) Head-To-Head Comparison

Dec -04

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NESR Celebrates Signing of Unconventional Frac Contract During Saudi-United States Investment Forum

Dec -01

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Boston Partners Buys 117,840 Shares of National Energy Services Reunited $NESR

Dec -01

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National Energy Services Reunited (NASDAQ:NESR) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Nov -17

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National Energy Services Reunited Corp. (NESR) Q3 2025 Earnings Call Transcript

Nov -13

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National Energy Services Reunited (NESR) Q3 Earnings and Revenues Beat Estimates

Nov -13

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National Energy Services Reunited Corp. Reports Third Quarter 2025 Financial Results

Nov -13

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.71%)

6. Segments

Production Services

Expected Growth: 4.8%

Increasing demand for oil and gas, advancements in well intervention and logging technologies, and growing need for optimized hydrocarbon recovery are driving the growth of National Energy Services Reunited Corp's Production Services.

Drilling and Evaluation Services

Expected Growth: 4.5%

Increasing demand for oil and gas, advancements in drilling technologies, and growing need for optimized well performance drive the growth of drilling and evaluation services.

7. Detailed Products

Drilling and Evaluation Services

Provides drilling and evaluation services to help oil and gas operators optimize their drilling operations and improve wellbore placement.

Production Services

Offers a range of production services, including well intervention, stimulation, and production optimization, to enhance oil and gas production.

Pipeline and Infrastructure Services

Provides pipeline and infrastructure services, including pipeline inspection, maintenance, and repair, to ensure the safe and efficient transportation of oil and gas.

Well Intervention Services

Offers well intervention services, including coiled tubing, wireline, and pumping services, to optimize well performance and extend well life.

Cementing and Completion Services

Provides cementing and completion services, including cementing, casing, and completion equipment, to ensure wellbore integrity and optimize well performance.

8. National Energy Services Reunited Corp.'s Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for National Energy Services Reunited Corp. is medium, as there are some alternative energy sources available, but they are not yet widely adopted.

Bargaining Power Of Customers

The bargaining power of customers for National Energy Services Reunited Corp. is low, as the company has a diverse customer base and no single customer has significant bargaining power.

Bargaining Power Of Suppliers

The bargaining power of suppliers for National Energy Services Reunited Corp. is medium, as the company relies on a few key suppliers for its operations, but has some flexibility to negotiate prices.

Threat Of New Entrants

The threat of new entrants for National Energy Services Reunited Corp. is high, as the energy industry is attractive and there are low barriers to entry.

Intensity Of Rivalry

The intensity of rivalry for National Energy Services Reunited Corp. is high, as the energy industry is highly competitive and there are many established players.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 37.11%
Debt Cost 6.73%
Equity Weight 62.89%
Equity Cost 6.73%
WACC 6.73%
Leverage 59.01%

11. Quality Control: National Energy Services Reunited Corp. passed 1 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
NESR

A-Score: 4.9/10

Value: 6.4

Growth: 6.1

Quality: 5.2

Yield: 0.0

Momentum: 8.5

Volatility: 3.0

1-Year Total Return ->

Stock-Card
Smart Sand

A-Score: 4.5/10

Value: 5.3

Growth: 4.4

Quality: 3.1

Yield: 6.0

Momentum: 4.0

Volatility: 4.0

1-Year Total Return ->

Stock-Card
Superior Drilling Products

A-Score: 4.3/10

Value: 7.2

Growth: 5.4

Quality: 7.2

Yield: 0.0

Momentum: 5.0

Volatility: 1.0

1-Year Total Return ->

Stock-Card
Newpark Resources

A-Score: 3.8/10

Value: 5.5

Growth: 1.7

Quality: 5.4

Yield: 0.0

Momentum: 5.0

Volatility: 5.3

1-Year Total Return ->

Stock-Card
Helix Energy Solutions

A-Score: 3.6/10

Value: 6.9

Growth: 4.9

Quality: 4.5

Yield: 0.0

Momentum: 1.5

Volatility: 4.0

1-Year Total Return ->

Stock-Card
DMC Global

A-Score: 3.4/10

Value: 9.1

Growth: 3.8

Quality: 3.1

Yield: 0.0

Momentum: 1.5

Volatility: 2.7

1-Year Total Return ->

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

14.9$

Current Price

14.9$

Potential

-0.00%

Expected Cash-Flows