National Energy Services Reunited Corp. (NESR)
🔔 Watch stock
symbol.quality_heading
The business works in principle, but one material question is open. As long as it stays open, our findings do not carry a quality verdict.
Whoever buys today bets that the 49-percent customer keeps accelerating, that the thin margin holds, and that the 28.26 million registered anchor shares get absorbed by the market without breaking the trend — and pays 43 times trailing earnings for it. Whoever waits checks three things in every quarterly report (10-Q): is revenue still growing double-digit, is gross margin climbing above 13 percent, and how many of the registered shares have actually been sold? The decision is yours.
symbol.quality_note
National Energy Services Reunited (NESR) runs frac fleets, drilling and well-testing crews for the oil states of the MENA region — and lights up 26 filters in our in-house stock scanner at once, from Weinstein stage 2 to EPS acceleration (data as of July 17, 2026). We read the first annual report on Form 10-K in the company's history, the quarterly report (10-Q) as of March 31, 2026, and the May 2026 resale prospectus: a quarter with 33 percent more revenue and 129 percent more profit, one customer paying nearly half the bill, an accounting past with a remediation stamp — and anchor shareholders who have registered 28.3 million shares for sale. Not investment advice — just the question of whom you are following when every signal points the same way.
Read the analysis
Stock Watch
This analysis is as of July 17, 2026. Stock Watch will tell you what's changed at NESR since then.
Later $1 a month per stock — signing up is free, and you'll be the first to know when it launches.
Appears in These Scanners
This stock currently matches 24 of our scanner strategies — each hit links to the scanner.
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. View all scanners
Trading Day
Key levels of the most recently completed trading day — not a live quote.
52-Week Range
Current price 27.00 $ — 88% of the range above the low.
Lowest and highest closing price over the last 52 weeks. The marker shows where the current price sits within that range: close to the high speaks for strength, close to the low for weakness.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 08/03/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
This stock currently pays no dividend.
Quality & Screener
AI Rating
NeutralGeprüft am 17.07.2026: In den ausgewerteten SEC-Berichten von National Energy Services Reunited (CIK 1698514) findet sich kein wesentlicher KI-Bezug. Besonderheit der Datenbasis: NESR war bis Ende 2025 Foreign Private Issuer — es existieren nur ein aktueller Geschäftsbericht (10-K für 2025, eingereicht 06.03.2026) und ein aktueller Quartalsbericht (10-Q zum 31.03.2026); statt der üblichen 4×10-Q/2×10-K wurden daher zusätzlich die Jahresberichte 20-F für 2024 und 2023 ausgewertet. Die Filing-Historie ist zudem durch die Restatement-Saga lückig (Fristversäumnis-Anzeige NT 20-F vom 03.05.2022; der Jahresbericht für 2022 erschien erst am 29.12.2023 gebündelt mit einem Restatement der testierten Zahlen für 2020 — gegen EDGAR verifiziert). Befund: Der 10-K 2025 nennt „artificial intelligence“ nur in generischen Risikofloskeln — als Beispiel im Technologie-Wettbewerbsrisiko („If we are unable to keep pace with technology developments in the industry, including advancements in artificial intelligence, this could adversely affect our ability to maintain or grow market share“, Item 1A) und als Cyber-Angriffsvektor („cyberattacks utilize artificial intelligence to expose vulnerabilities“) — kein konkretes KI-Geschäftsrisiko fürs eigene Modell im Sinne von „bedroht“. Der 10-Q zum 31.03.2026 und der 20-F für 2024 enthalten keinerlei KI-Treffer. Einziger operativer Berührungspunkt ist ein einzelner, in den Folgeberichten nicht fortgeschriebener Pilot im 20-F für 2023: „NESR piloted its artificial intelligence-based, continuous emissions monitoring platform with a prominent, multinational customer in Oman“ (übersetzt: „NESR pilotierte seine KI-gestützte Plattform zur kontinuierlichen Emissionsüberwachung mit einem prominenten multinationalen Kunden in Oman“) — ein Pilotprojekt ohne ausgewiesene Umsätze, das weder für „verkauft“ noch (als Einzelbeleg ohne Fortschreibung) für „nutzt“ reicht. Nach dem Kriterienkatalog bleibt es bei „neutral“.
View the full file — quotes, sources, reviewed filings
Filings Reviewed: 10-Q 2026-05-11 · 10-K 2026-03-06 · 20-F 2025-03-28 · 20-F 2024-04-30
Rated on July 17, 2026 · How the Rating Is Built
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Analysts & Price Target
The price target sits 22.2% above the current price.
- Consensus
- Sell
- Analyst Ratings
- 3
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 12/31/2026 | 1.71 | 1.60 – 1.86 | 1,897 | 105.6% | 7 |
| 12/31/2027 | 2.50 | 1.92 – 3.02 | 2,336 | 46.2% | 7 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Next Reporting Date
- Expected Earnings per Share
- 0.35 $
Expected date of the next quarterly or annual figures. Dates do shift occasionally — only the invitation issued by the company is binding.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
None of the selected stocks reports this metric. Pick another metric or switch between annual and quarterly.
· Total · per year
These companies report in different currencies — switch on “Indexed” or pick a margin for a fair comparison.
The figures could not be loaded right now.
Source: fundamental data
Quarterly Figures
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | 0.28 | 1,078.80 | 344 | 11.80 | 7.80 | 46 | 21 |
| 2025: Q1 | 0.11 | 2.70 | 303 | 2.10 | 3.40 | 21 | -10 |
| 2025: Q2 | 0.16 | -21.20 | 327 | 0.70 | 4.60 | 99 | 69 |
| 2025: Q3 | 0.18 | -18.30 | 295 | -12.20 | 6.00 | 7 | -34 |
| 2025: Q4 | 0.08 | -72.80 | 398 | 15.90 | 2.00 | 139 | 96 |
| 2026: Q1 | 0.23 | 115.40 | 405 | 33.50 | 5.90 | 31 | -5 |
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Annual Figures
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2017 | 271 | 40 | 31 | 0.71 | 83 | 219 | 231 |
| 2018 | 271 | 40 | 28 | 0.33 | 62 | 855 | 1,360 |
| 2019 | 658 | 72 | 39 | 0.45 | 93 | 886 | 1,526 |
| 2020 | 834 | 35 | 17 | 0.19 | 134 | 944 | 1,691 |
| 2021 | 877 | -43 | -65 | -0.71 | 128 | 821 | 1,831 |
| 2022 | 910 | -1 | -36 | -0.39 | 93 | 802 | 1,828 |
| 2023 | 1,146 | 81 | 13 | 0.13 | 177 | 821 | 1,798 |
| 2024 | 1,302 | 138 | 76 | 0.80 | 229 | 908 | 1,774 |
| 2025 | 1,324 | 98 | 51 | 0.52 | 264 | 968 | 1,852 |
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Assessment: Opportunities & Risks
Revenue up 33 percent to $404.6 million and net income up 129 percent in the first quarter of 2026, after plus 16 percent in the fourth quarter of 2025 — carried by frac and well-testing activity in Saudi Arabia (10-Q as of 03/31/2026). The technicals confirm it: stage-2 uptrend, relative strength 94, roughly 6 percent below the all-time high (data as of July 17, 2026).
One customer accounted for 49 percent of 2025 revenue, four customers for 73 percent, and 99 percent of the business sits in the MENA region — with no contractual guarantee of engagement at historical levels; the 2025 contract transition alone cost three and a half points of gross margin (10-K 2025, Item 1A and Item 7).
Gross margin of 12.4 (2025) to 12.8 percent (Q1 2026) while bidding against Schlumberger, Halliburton and Baker Hughes — every price concession hits with leverage. Against that stand $264.2 million of operating cash flow in 2025, moderate net debt around $194 million and falling interest expense (03/31/2026).
A restatement of the audited 2020 financials, an annual report roughly 20 months late, skipped shareholder meetings in 2022/2023 and an attested "tone at the top" failure — declared remediated as of June 30, 2025, with full U.S. reporting obligations since January 2026. The repair is convincing; the probation period runs — under the same leadership.
The resale prospectus (S-3ASR) of May 26, 2026, registers 28.26 million shares — roughly 28 percent — held by anchors Olayan, Al Nowais and Mubbadrah plus 1.8 million shares of the CEO; seven Form 144 notices in May and Form 4 sales by a board member at the end of June 2026 show the door is being used. A larger free float improves tradability, but the supply comes from the best informed.
NESR delivers the rare double of textbook momentum and genuine earnings acceleration: revenue up 33 percent and net income up 129 percent in the first quarter of 2026, a Piotroski F-score of 7 of 9, a solid balance sheet — and 26 hits in our in-house stock scanner (data as of July 17, 2026). Against that stand a customer with a 49 percent revenue share, gross margins of 12 to 13 percent, a financial-controls clean-up completed only in mid-2025, and 28.26 million shares registered for resale by the anchor circle, CEO included. Whoever invests here buys the continuation of a Saudi contract boom — at a price that already assumes the continuation. Not investment advice.
- NESR reached the research list through the momentum/stage-2 run of our in-house stock scanner on July 17, 2026, with 26 hits — including Stan Weinstein stage 2, RS leaders above 90, near 52-week high, EPS acceleration and institutional accumulation.
- Scanner metrics (P/E, P/S, Piotroski, Altman Z, fundamental grade, relative strength) are computed on trailing twelve-month figures; the transition year 2025 is in them, the expected further acceleration naturally is not.
- Price and valuation figures are dated July 17, 2026 (about $27, roughly $2.7 billion in market value); analyses are evergreen, daily prices are not a buy argument. NESR's fiscal year equals the calendar year.
About the Company
National Energy Services Reunited Corp. erbringt Ölfeld-Dienstleistungen im Nahen Osten und in Nordafrika.
| Employees | 7,352 |
|---|---|
| Headquarters | Houston, TX |
| Address | 777 Post Oak Boulevard, 77056 Houston, United States |
| Phone | 832 925 3777 |
| Website | nesr.com |
| IPO Date | 12. May 2017 |
| ISIN | VGG6375R1073 |
Management
| Name | Title | Birth Year |
|---|---|---|
| Sherif Foda | Executive Chairman & CEO | 1969 |
| Stefan Angeli | Chief Financial Officer | 1960 |
| Chokri Ben Amor | Director | – |
| Naif Al- Hadrami | Director | – |
| Salih Merghani | Vice President of Operations | – |
| Blake Geelhoed Gendron | Vice President of Investor Relations & NEDA Segment | – |
| Chahira Barnat | Treasury Director | – |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Chart
Interactive price chart (TradingView).
Data as of: July 31, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.