Filing Flows › NOV (NOV) › Q2 2026 › vs Q2 2025
NOV (NOV) Q2 2026 vs Q2 2025 (year over year)
NOV's revenue fell $54.0M (-2%) from $2.2B in Q2 2025 to $2.1B in Q2 2026. Gross margin 24.4% against 20.4% (+4.0 pts).
NOV, Q2 2026: revenue $2.1B (-2% year over year), operating margin 9.0%, net earnings $112M, operating cash flow $17.0M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 24.4% | 20.4% | +4.0 pts |
| Operating margin | 9.0% | 6.5% | +2.5 pts |
| Net margin | 5.2% | 4.9% | +0.3 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $2.1B | $2.2B | −$54.0M | -2% |
| Gross profit | $521M | $446M | $75.0M | +17% |
| Cost of revenue | $1.6B | $1.7B | −$129M | -7% |
| Operating profit | $193M | $143M | $50.0M | +35% |
| Operating expenses | $328M | $303M | $25.0M | +8% |
| Pre-tax earnings | $157M | $115M | $42.0M | +37% |
| Other expense, net | $36.0M | $28.0M | $8.0M | +29% |
| Net earnings | $112M | $108M | $4.0M | +4% |
| Minority interests | $4.0M | $6.0M | −$2.0M | -33% |
| Income tax | $41.0M | $1.0M | $40.0M | 41× |
| Operating cash sources | $220M | $212M | $8.0M | +4% |
| Depreciation & amortization | $93.0M | $87.0M | $6.0M | +7% |
| Share-based compensation | $15.0M | $17.0M | −$2.0M | -12% |
| Working capital & other | $203M | $21.0M | $182M | +867% |
| Operating cash flow | $17.0M | $191M | −$174M | -91% |
| Capital expenditures | $81.0M | $83.0M | −$2.0M | -2% |
| Negative free cash flow (OCF − capex) | $64.0M | −$108M | $172M | — |
Questions
How much did NOV's revenue grow year over year in Q2 2026?
NOV's revenue fell $54.0M (-2%) from $2.2B in Q2 2025 to $2.1B in Q2 2026. Gross margin 24.4% against 20.4% (+4.0 pts).