National Energy Services Reunited Corp. (NESR) FY2025 10-K Annual Report
National Energy Services Reunited Corp. (NESR) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Mar 6, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
National Energy Services Reunited Corp. FY2025 10-K Analysis
Business Overview
- • Core business model not detailed in this filing excerpt
- • No new products, services, or segments introduced or emphasized this year
Management Discussion & Analysis
- • Revenue $1,324M in 2025, up $22.3M (1.7%) from $1,301.7M in 2024; Production Services down $62.1M, Drilling & Evaluation up $84.4M
- • Operating margin 7.4% in 2025 ($98.3M operating income) vs 10.6% in 2024 ($137.7M operating income); gross margin 12.4% vs 16.0%
Risk Factors
- • Litigation risk in Qatar and UAE regarding ownership and historical profits of subsidiaries acquired in NPS acquisition (Note 13 reference)
- • Middle East conflict escalation Feb 28, 2026, affecting Saudi Arabia, UAE, Qatar operations via supply disruptions and increased costs
National Energy Services Reunited Corp. FY2025 Key Financial MetricsXBRL
Revenue
$1.3B
▲ +1.7% YoY
Net Income
$51M
▼ -33.0% YoY
Gross Margin
12.4%
▼ -359bp YoY
Operating Margin
7.4%
▼ -315bp YoY
Net Margin
3.9%
▼ -200bp YoY
ROE
5.3%
▼ -312bp YoY
Total Assets
$1.9B
▲ +4.4% YoY
EPS (Diluted)
$0.52
▼ -35.0% YoY
Operating Cash Flow
$264M
▲ +15.2% YoY
Source: XBRL data from National Energy Services Reunited Corp. FY2025 10-K filing on SEC EDGAR. All figures in USD.
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