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NOV (NOV) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Oct 28, 2026 · NOV (NOV) Q3 2026 earnings results →

Q3 2026 Revenue up 2% year over year to $2.2B · 4¢ of every $1 of revenue kept as net profit · operating margin 6.4%

NOV made $2.2B in Q3 2026 (+2% Y/Y). Operating margin 6.4%, net earnings $90.0M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 28, 2026.

Revenue$2.2B
Year over year+2%
Operating margin6.4%
Net earnings$90.0M
Operating cash flow$41.0M

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NOV Q3 2026 revenue breakdown: Sankey diagram of revenue, costs, profit and cash flow
NOV Q3 2026 revenue breakdown — free to use with credit and a link (terms). Share on X
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What changed this quarter

Revenue was $2.2B in Q3 2026, up 2% year over year and up 4% from the previous quarter.

Gross margin was 19.7%, up 0.8 points from Q3 2025. Operating profit was $0.14B, a 6.4% margin (up 1.5 points year over year). Of the extra revenue versus Q3 2025, 70% reached operating profit, above the 5% margin then. Operating expenses fell 3% while revenue rose 2%. Net earnings were $0.09B, up 114% year over year. The effective tax rate was 22.8%.

Operating cash flow was $0.04B (down 88% year over year), 43% of net income including minority interests. Non-cash charges added back $0.09B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items used $0.16B. Capital expenditures of $0.09B exceeded it, leaving free cash flow of −$0.05B.

Quarterly history

NOV revenue by quarterNOV revenue by quarter$2.1BQ1 2025$2.2BQ2 2025$2.2BQ3 2025$2.3BQ4 2025$2.1BQ1 2026$2.1BQ2 2026$2.2BQ3 2026
NOV net earnings by quarterNOV net earnings by quarter$74.0MQ1 2025$108MQ2 2025$42.0MQ3 2025−$81.0MQ4 2025$19.0MQ1 2026$112MQ2 2026$90.0MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QOct 28, 2026$2.2B+2%6.4%$90.0M$41.0M
Q2 202610-QJul 29, 2026$2.1B-2%9.0%$112M$17.0M
Q1 202610-QApr 28, 2026$2.1B-2%2.3%$19.0M−$26.0M
Q4 202510-KFeb 12, 2026$2.3B-1%4.0%−$81.0M$573M
Q3 202510-QOct 28, 2025$2.2B-0.7%4.9%$42.0M$352M
Q2 202510-QJul 29, 2025$2.2B-1%6.5%$108M$191M
Q1 202510-QApr 29, 2025$2.1B-2%7.2%$74.0M$135M

Charts

NOV: revenue growth, year over year and quarter over quarterNOV: revenue growth, year over year and quarter over quarterY/YQ/Q-2%Q1 2025-1%+4%Q2 2025-1%-1%Q3 2025-1%+5%Q4 2025-2%-10%Q1 2026-2%+4%Q2 2026+2%+4%Q3 2026
Latest (Q3 2026): Y/Y +2%, Q/Q +4%.
NOV: where the cash came from (+) and went (−), TTM to Q3 2026NOV: where the cash came from (+) and went (−), TTM to Q3 2026Operating cash flow$605MCapital spending−$335MBuybacks−$230MDividends−$156MCash drawn (+) / kept (−)$149MNet borrowing (+) / repaid (−)−$51.0MOther investing$37.0MOther financing−$12.0MExchange rates−$7.0M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
NOV: profit against cash, quarter by quarterNOV: profit against cash, quarter by quarterNet incomeOperating cash flow$161M$591MQ4 2024$74.0M$135MQ1 2025$114M$191MQ2 2025$44.0M$352MQ3 2025−$81.0M$573MQ4 2025$20.0M−$26.0MQ1 2026$116M$17.0MQ2 2026$95.0M$41.0MQ3 2026
Latest (Q3 2026): Net income $95.0M, Operating cash flow $41.0M.
NOV: diluted shares by fiscal yearNOV: diluted shares by fiscal year384MFY2020386MFY2021394MFY2022397MFY2023396MFY2024375MFY2025
-2.3% since FY2020: buybacks shrank the count.
NOV: long-term debt falling due (FY2025)NOV: long-term debt falling due (FY2025)$31.0M2026$12.0M2027$12.0M2028$513M2029$14.0M2030$1.1BLater
Cash $1.6B, short-term investments —, long-term debt $1.7B at 2025-12-31.
NOV in its industry: growth against margin (15 companies, SIC 3533)NOV in its industry: growth against margin (15 companies, SIC 3533)revenue growth, year over year →↑ operating marginmedian +14%median 8%BKRFTIDNOWWFRDWHDSEIINVXFLOCFETHMHOISDTIGPUSKLNGNOV (+2%, 6%)
Oil & Gas Field Machinery & Equipment; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

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💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About NOV

NOV (NYSE: NOV) delivers technology-driven solutions to empower the global energy industry. For more than 160 years, NOV has pioneered innovations that enable its customers to safely and efficiently produce abundant energy while minimizing environmental impact. NOV powers the industry that powers the world.

In its own words, from its 8-K, filed Jul 29, 2026.

NOV against its Oil & Gas Field Machinery & Equipment peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +2% against the peers' median +14%. Operating margin: 6.4% against the peers' median 13.4%.

CompanyQuarterRevenueY/YOp. margin
NOV NOVQ3 2026$2.2B+2%6.4%
BKR Baker HughesQ3 2026$8.0B+14%6.5%
FTI TechnipFMCQ3 2026$2.9B+9%19.5%
DNOW DnowQ3 2026$1.3B+111%2.5%
WFRD Weatherford InternationalQ3 2026$1.1B-7%13.4%
WHD CactusQ3 2026$431M+63%21.8%
SEI Solaris Energy InfrastructureQ3 2026$341M+104%19.6%
INVX Innovex InternationalQ3 2026$265M+10%12.2%
FLOC Flowco HoldingsQ3 2026$259M+46%18.5%

Source: NOV 10-Q on SEC EDGAR · CIK 1021860 · Oil & Gas Field Machinery & Equipment

Guidance and outlook

NOV: what its forward-looking statements are about (10-Q filed 2026-07-29)NOV: what its forward-looking statements are about (10-Q filed 2026-07-29)Demand3Capital spending1Buybacks & dividends1Financing1Deals1
7 statements; tone +0.00 (−1 all cautious, +1 all confident); 4 hedged.
NOV: outlook statements against the filing beforeNOV: outlook statements against the filing beforeConfident1Cautious1

13F: who owns NOV and who is buying

Largest holders of NOV (13F)Largest holders of NOV (13F)First Eagle Investment Management…$1.1BBlackRock$698MPzena Investment Management LLC$675MVanguard Group$584MDimensional Fund Advisors LP$365MVanguard Portfolio Management LLC$351MVanguard Capital Management LLC$302MPrice T Rowe Associates$276MHotchkis & Wiley Capital Manageme…$266MState Street$228M
Funds' net buying of NOV by quarter (13F)Funds' net buying of NOV by quarter (13F)$205M2024-09−$35.0M2024-12−$176M2025-03$39.6M2025-06$105M2025-09−$255M2025-12−$81.2M2026-03$524M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on NOV

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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中文版：NOV（NOV）财报

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