DNOWNYSEOil & Gas Field Machinery & EquipmentFiscal year ends December 31
DNOW Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026
$16.21+0.53 (+3.38%)
Close on Oct 19, 2026
- Market cap
- $2.96B
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
17.0%−1.1 pts over 5 years
Operating margin
-3.3%+22.6 pts over 5 years
Net margin
-3.2%+23.2 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +18.8% | +9.7% | +11.7% | -0.6% | |
| Gross profit | -10.0% | -1.9% | +10.4% | -0.5% | |
| Free cash flow | -53.6% | – | -5.8% | -8.1% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -18.1% | -46.3% | -5.3% | |
| Return on assets | -13.6% | -32.9% | -3.2% | |
| Current ratio | 2.76 | 3.17 | 2.34 | |
| Debt to equity | 0.09 | – | – | |
| Net debt to EBITDA | -0.02× | – | – | |
| Inventory turnover | 3.0× | 3.7× | 3.0× | |
| Capex to revenue | 0.2% | 0.5% | 0.7% | |
| Diluted shares | 107M | 109M | 118M |
Where the cash went
Fiscal 2021 to 2025, five years combined
DNOW generated $671.00M from operations and spent $178.00M on capital expenditure, dividends and share buybacks. 34% of that went back into the business.
Generated
$671.00M
Used
$178.00M
Capital expenditure$61.00M34%Dividends$00%Share buybacks$117.00M66%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-3.2%
×Asset turnover1.02×
×Equity multiplier1.65×
=Return on equity, FY2025-5.3%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -3.2% | 1.02× | 1.65× | -5.3% |
| FY2024 | 3.3% | 1.51× | 1.44× | 7.1% |
| FY2023 | 10.8% | 1.63× | 1.50× | 26.3% |
| FY2022 | 6.0% | 1.76× | 1.56× | 16.5% |
| FY2021 | 0.3% | 1.55× | 1.50× | 0.7% |
| FY2020 | -26.4% | 1.25× | 1.41× | -46.3% |
| FY2019 | -3.3% | 1.74× | 1.44× | -8.2% |
| FY2018 | 1.7% | 1.76× | 1.48× | 4.3% |
| FY2017 | -2.0% | 1.58× | 1.42× | -4.4% |
| FY2016 | -11.1% | 1.23× | 1.33× | -18.1% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
4of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero-$89.00M
- Cash generatingOperating cash flow above zero$155.00M
- Return on assets improvedROA up on the prior year5.1% → -5.5%
- Earnings backed by cashOperating cash flow above net income$155.00M vs -$89.00M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose2.33 → 2.34
- No dilutionShare count did not rise107M → 118M
- Gross margin improvedGross margin up on the prior year22.38% → 16.95%
- More efficientAsset turnover rose1.55 → 1.74