Company Analysis

National Energy Services Reunited Corp (NESR)

Nasdaq: NESR · Oil & Gas Field Services, NEC · Houston, TX · filing with the SEC since 2017
Grade5.7
◀ Past 4.7● Present 6.3▶ Future 5.8

The grade of National Energy Services Reunited Corp

Nine metrics read from its own filings, by tense
Headline grade
5.7/10
◀ Past4.730% of the headline
● Present6.340% of the headline
▶ Future5.830% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

All nine metrics read as filed from the record.

◀ Past

What did they actually do?

4.7/1030% of the headline grade · 3 of 3 filed

Surviving crises

as filed
2.4/10

Has it survived what it has been through?

2 warning events since 2017; the latest 2026-08-10.

weight 33% of this tense · 24th percentile among 21 sector filers · read for itself

From the record

National Energy Services Reunited Corp's filings since 2017 show 2 warning events of 2 kinds: an auditor change (8-K item 4.01, the latest 2026-08-10); a late-report notice (Form NT 10-K or NT 10-Q, the latest 2022-05-03) (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed
7.6/10

What has it actually done, year after year?

+9.7% a year over 6 filed years; profitable in 4 of 6.

weight 45% of this tense · 76th percentile among 20 sector filers · read for its customers

From the record

National Energy Services Reunited Corp's 6 filed years say what it did: revenue went from $834 million in fiscal 2020 to $1.3 billion in fiscal 2025, up 9.7% a year; it rose in 5 of 5 years; it never fell from a peak; net income was positive in 4 of 6 of those years (its annual reports).

What it rests on

  • revenue growth over the filed span9.7%top 47% of its family
  • the share of years revenue rosetop 10% of its family
  • the share of filed years with a profittop 30% of its family
  • the deepest fall from a revenue peak0.0%top 10% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

as filed
2.5/10

How has it treated the people who own it?

Share count grew 2.2% a year. 0% of cash flow returned. Insiders: 17 sales, 0 purchases.

weight 22% of this tense · 24th percentile among 17 sector filers · read for its shareholders

From the record

Over the 3 fiscal years to 2025-12-31, National Energy Services Reunited Corp's diluted share count grew about 2.2% a year, and dividends and buybacks returned about 0% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 17 sales and 0 purchases of their own stock on the open market in the year to 2026-09-30 (their Form 4 filings).

What it rests on

  • the share count over the yearsbottom 31% of its family
  • cash returned against operating cash flowbottom 18% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

● Present

What are they doing right now?

6.3/1040% of the headline grade · 3 of 3 filed

Financial health

as filed
4.3/10

Is it financially healthy right now?

ROE 5%: 5¢ of profit per shareholder dollar. Leverage 48%: owes 48¢ per asset dollar.

weight 33% of this tense · 43rd percentile among 20 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, National Energy Services Reunited Corp earned about 5 cents of profit for every dollar of shareholders' money, and gross profitability: its products earned about 9 cents per dollar of everything the company owns. Leverage: it owed about 48 cents per dollar of assets, and net share issuance: its share count grew 3.5% over the year (the filed statements).

What it rests on

  • what it owes per dollar of assetstop 47% of its family
  • return on equitytop 47% of its family
  • gross profit against assetsbottom 32% of its family
  • the share count against the year beforebottom 36% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed
6.3/10

How strong is its position in its industry?

top 37% of 20 in its family; net margin 3.9%.

weight 45% of this tense · 63rd percentile among 20 sector filers · read for its customers

From the record

National Energy Services Reunited Corp's standing among 20 graded names in its industry family: revenue of $1.3 billion in fiscal 2025 ranks in the top 42% by size; a net margin of 3.9% ranks in the top 37%; revenue growth of 13.3% a year over the last 3 filed years ranks in the top 32% (its annual reports).

What it rests on

  • revenue against the family$1.32Btop 42% of its family
  • net margin3.9%top 37% of its family
  • three-year revenue growth13.3%top 32% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

as filed
9.4/10

What are the people in charge doing?

top 6% of 17 in its family for leadership; chief executive since 2017.

weight 22% of this tense · 94th percentile among 17 sector filers · read for its shareholders

From the record

National Energy Services Reunited Corp's leadership, from its insiders' filings and its current reports: the chief executive on the record is Foda, Sherif (Chief Executive Officer, as filed), filing under that title since 2017-05-11, 9.5 years (top 10% of its family); most of the 8 officers and directors filing now have filed since the record of its people begins (2026-01-02), a floor of 10 months the record cannot see past, so that part is not read; 1 officer or director change was reported on Form 8-K since 2023-11-13, against the 8 people in charge now (top 3%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

What it rests on

  • officer and director changes on Form 8-K, against the people in charge1 in three years among 8 peopletop 3% of its family
  • the chief executive's years on the record9.5 yearstop 10% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

▶ Future

What are they set up to do next?

5.8/1030% of the headline grade · 3 of 3 filed

Room to expand

as filed
4.9/10

How much room does it have to grow?

bottom 49% of 20 in its family for room to expand.

weight 22% of this tense · 49th percentile among 20 sector filers · read for itself

From the record

National Energy Services Reunited Corp's room to grow, from the newest filed statements (fiscal 2025): cash of $125 million against debt of $191 million leaves -3.6% of its assets as net cash, top 50% of its family; cash from operations less capital spending is 9.1% of revenue (top 17%); a gross margin of 12.4% (bottom 14%) (its annual report).

What it rests on

  • cash less debt against assets-3.6%top 50% of its family
  • cash from operations less capital spending against revenue9.1%top 17% of its family
  • gross margin12.4%bottom 14% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed
6.3/10

What could actually drive growth from here?

top 37% of 20 in its family for growth drivers.

weight 45% of this tense · 63rd percentile among 20 sector filers · read for its customers

From the record

National Energy Services Reunited Corp's growth drivers, from the filed years to fiscal 2025: revenue grew 13.3% a year over the last three filed years against 9.7% over all 6, speeding up (top 22% of its family); the newest year grew 1.7% (top 37%); capital spending grew 5.4% a year (bottom 48%) (its annual reports). National Energy Services Reunited Corp reported 2 product lines in fiscal 2025: Production Services at $816 million (62%), Drilling and Evaluation Services at $508 million (38%); 1 of 2 grew against the year before (its annual report).

What it rests on

  • three-year growth against the whole span+3.6 points a yeartop 22% of its family
  • the newest year's revenue growth1.7%top 37% of its family
  • three-year growth of capital spending5.4%bottom 48% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed
5.8/10

Did its newest year beat what its own record pointed to?

top 42% of 18 in its family for expectations against reality.

weight 33% of this tense · 58th percentile among 18 sector filers · read for its shareholders

From the record

National Energy Services Reunited Corp's newest year against its own record: revenue of $1.3 billion in fiscal 2025 came in 15% below the $1.6 billion its prior three years' pace pointed to (bottom 19% of its family); net income of $51 million against a prior three-year average of $17 million (top 14%); a net margin of 3.9% against 1% before (top 31%) (its annual reports).

What it rests on

  • revenue against the prior three years' pace-15.0%bottom 19% of its family
  • net income against the prior three years' average+192%top 14% of its family
  • net margin against its prior average+2.9 pointstop 31% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton NESR · research, not advice