National Energy Services Reunited Corp. (NESR) Income Statement
NESR 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsNESR revenue and net income
Where NESR's revenue goes
2025Each bar shows an amount and its share of revenue. NESR kept 3.9% of revenue as net income.
NESR profit margins
NESR growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +1.7% | +13.3% | +9.7% | — |
| Gross profit | −30.1% | +30.6% | +18.6% | — |
| Operating income | −28.6% | — | +22.8% | — |
| Net income | −33.0% | — | +25.3% | — |
| EPS (diluted) | −8.8% | +1.7% | +5.0% | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
NESR quarterly EPS vs estimates
NESR beat the analyst EPS estimate in 7 of the last 8 quarters. Next report: November 12, 2026 (estimate $0.36).
NESR income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.32B | $1.30B | $1.15B | $909.5M | $876.7M | $834.2M | $658.4M | $271.3M | $271.3M |
| Cost of revenue | $1.18B | $1.09B | $1.02B | $844.0M | $892.0M | $772.1M | $522.7M | $200.1M | $200.1M |
| Gross profit | $146.0M | $208.7M | $129.9M | $65.5M | −$15.3M | $62.1M | $135.7M | $71.2M | $71.2M |
| Research & development | — | — | — | — | — | — | — | — | $0 |
| Sales, general & admin | $47.6M | $52.2M | $49.2M | $47.5M | $28.1M | $53.2M | $63.8M | $56.7M | $30.3M |
| Total operating expenses | $47.6M | $71.0M | $49.2M | $910.4M | $28.1M | $26.8M | $63.8M | −$30.3M | $30.9M |
| Operating income | $98.3M | $137.7M | $80.7M | −$917,000 | −$43.3M | $35.3M | $71.8M | $40.2M | $39.7M |
| Interest income | — | — | — | — | — | — | $19.0M | $18.5M | — |
| Interest expense | $32.5M | $39.9M | $45.8M | $34.1M | $15.2M | $15.9M | $19.0M | $6.7M | $6.7M |
| Income before taxes | $60.4M | $95.5M | $29.8M | −$29.8M | −$60.6M | $29.1M | $52.4M | $32.9M | $32.9M |
| Income taxes | $9.3M | $19.2M | $17.3M | — | $4.0M | $12.5M | $13.1M | $4.6M | $4.6M |
| Net income | $51.1M | $76.3M | $12.6M | −$36.4M | −$64.6M | $16.6M | $39.4M | $28.4M | $30.6M |
| EBITDA | $234.6M | $278.2M | $217.9M | $120.2M | $76.7M | $165.7M | $159.5M | $99.9M | $78.1M |
| EPS (diluted) | $0.83 | $0.91 | $0.11 | $0.79 | $0.44 | $0.65 | $0.74 | $0.36 | −$0.14 |
| Gross margin | 11.0% | 16.0% | 11.3% | 7.2% | −1.7% | 7.4% | 20.6% | 26.2% | 26.2% |
| Operating margin | 7.4% | 10.6% | 7.0% | −0.1% | −4.9% | 4.2% | 10.9% | 14.8% | 14.6% |
| Net margin | 3.9% | 5.9% | 1.1% | −4.0% | −7.4% | 2.0% | 6.0% | 10.4% | 11.3% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $520.8M | $404.6M | $398.3M | $295.3M | $327.4M | $303.1M | $343.7M | $336.2M | $325.0M | $296.8M | $307.5M | $300.1M |
| Cost of revenue | $439.5M | $357.4M | $354.9M | $264.6M | $288.2M | $270.3M | $284.5M | $282.8M | $271.8M | $253.9M | $263.1M | $255.0M |
| Gross profit | $81.3M | $47.1M | $43.3M | $30.7M | $39.2M | $32.8M | $59.2M | $53.4M | $53.1M | $42.9M | $44.4M | $45.1M |
| Sales, general & admin | $12.0M | $11.1M | $12.7M | $11.1M | $12.1M | $11.8M | $10.9M | $13.3M | $14.3M | $13.7M | $12.2M | $12.3M |
| Total operating expenses | $16.5M | $11.1M | $12.7M | $11.1M | $12.1M | $11.8M | $15.6M | $18.0M | $19.0M | $18.4M | $280.0M | $17.0M |
| Operating income | $64.8M | $36.0M | $30.7M | $19.6M | $27.1M | $20.9M | $43.6M | $35.4M | $34.1M | $24.6M | $27.6M | $28.1M |
| Interest expense | $7.0M | $6.5M | $7.5M | $8.1M | $8.6M | $8.3M | $9.9M | $9.9M | $9.4M | $10.6M | $11.8M | $12.1M |
| Income before taxes | $58.9M | $30.9M | $15.0M | $12.2M | $19.5M | $13.7M | $30.2M | $25.9M | $24.9M | $14.6M | $8.5M | $17.5M |
| Income taxes | $14.9M | $7.1M | $7.2M | −$5.5M | $4.3M | $3.3M | $3.3M | $5.3M | $6.0M | $4.6M | — | $2.7M |
| Net income | $44.0M | $23.8M | $7.8M | $17.7M | $15.2M | $10.4M | $26.8M | $20.6M | $18.9M | $10.0M | $2.3M | $14.7M |
| EBITDA | $102.1M | $71.3M | $57.8M | $54.9M | $63.9M | $58.0M | $79.7M | $70.2M | $69.5M | $58.8M | — | $64.3M |
| EPS (diluted) | $0.44 | $0.26 | $0.32 | $0.16 | $0.21 | $0.14 | $0.30 | $0.31 | $0.20 | $0.10 | $0.00 | $0.16 |
| Gross margin | 15.6% | 11.7% | 10.9% | 10.4% | 12.0% | 10.8% | 17.2% | 15.9% | 16.4% | 14.5% | 14.4% | 15.0% |
| Operating margin | 12.5% | 8.9% | 7.7% | 6.6% | 8.3% | 6.9% | 12.7% | 10.5% | 10.5% | 8.3% | 9.0% | 9.4% |
| Net margin | 8.5% | 5.9% | 2.0% | 6.0% | 4.6% | 3.4% | 7.8% | 6.1% | 5.8% | 3.4% | 0.7% | 4.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in NESR's financial statements (latest annual report filed March 6, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
NESR financial results
In fiscal year 2025 (ended December 31, 2025), NESR reported revenue of $1.3 billion, up 1.7% from the year before. It had net income of $51.1 million (down 33.0%), a net profit margin of 3.9%. Diluted earnings per share came to $0.83. Over five years revenue grew at an average rate of 9.7% a year.
See the NESR stock overview for the latest quote and news, or the NESR chart for price history and technical indicators.
NESR income statement FAQ
What is NESR's annual revenue?
NESR reported total revenue of $1.3 billion for fiscal year 2025, which ended on December 31, 2025. That was up 1.7% from $1.3 billion the previous year.
Is NESR profitable?
Yes. NESR reported net income of $51.1 million in fiscal 2025, a net profit margin of 3.9%; its operating margin was 7.4%.
What is NESR's gross margin?
NESR's gross margin was 11.0% in fiscal 2025: for every $100 of revenue, NESR kept $11 after the direct cost of its products and services.
How fast is NESR growing?
Revenue grew 9.7% a year on average over the last five fiscal years, from $834.2 million to $1.3 billion.
What are NESR's earnings per share?
NESR earned $0.83 per diluted share in fiscal 2025, compared with $0.91 a year earlier.
When will NESR report its next earnings?
NESR is expected to report results for the quarter ending September 30, 2026 on November 12, 2026 before the market opens.
When does NESR's fiscal year end?
NESR's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 6, 2026.