NBRNYSEDrilling Oil & Gas WellsFiscal year ends December 31
NABORS INDUSTRIES LTD
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 31, 2026
$80.06+1.86 (+2.38%)
Close on Oct 19, 2026
- Market cap
- $1.14B
- P/E (TTM)
- 6.0
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
–
Operating margin
14.8%+22.8 pts over 5 years
Net margin
9.0%+46.8 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 | +8.7% | +6.3% | +8.3% | -1.9% | |
| Operating income | +13.0% | +119.9% | – | +4.0% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -27.4% | -51.4% | 79.0% | |
| Return on assets | -11.6% | -13.1% | 6.2% | |
| Current ratio | 1.41 | 2.20 | 1.56 | |
| Debt to equity | 1.10 | 2.58 | 4.22 | |
| Net debt to EBITDA | 4.40× | 3.66× | – | |
| Interest coverage | -0.6× | -0.8× | 2.2× | |
| Inventory turnover | 10.4× | 7.9× | – | |
| Capex to revenue | 17.8% | 9.2% | 22.5% | |
| Diluted shares | 6M | 7M | 14M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Nabors Industries generated $2.84B from operations and spent $2.44B on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$2.84B
Used
$2.44B
Capital expenditure$2.43B100%Dividends$7.73M0%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin9.0%
×Asset turnover0.69×
×Equity multiplier12.81×
=Return on equity, FY202579.0%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 9.0% | 0.69× | 12.81× | 79.0% |
| FY2024 | -6.0% | 0.60× | 21.19× | -76.3% |
| FY2023 | -0.4% | 0.60× | 14.39× | -3.4% |
| FY2022 | -13.2% | 0.52× | 10.69× | -73.0% |
| FY2021 | -28.2% | 0.37× | 6.33× | -65.4% |
| FY2020 | -37.8% | 0.35× | 3.91× | -51.4% |
| FY2019 | -23.1% | 0.42× | 3.12× | -30.0% |
| FY2018 | -21.0% | 0.38× | 2.90× | -22.8% |
| FY2017 | -21.3% | 0.31× | 2.69× | -17.8% |
| FY2016 | -46.2% | 0.25× | 2.35× | -27.4% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
6of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$286.62M
- Cash generatingOperating cash flow above zero$693.27M
- Return on assets improvedROA up on the prior year-3.3% → 6.4%
- Earnings backed by cashOperating cash flow above net income$693.27M vs $286.62M
- Less leverageLong-term debt to assets fell55.6% → 44.2%
- Better liquidityCurrent ratio rose1.75 → 1.56
- No dilutionShare count did not rise9M → 14M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.56 → 0.71