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Nabors Industries Ltd

NBR NYSE Drilling Oil & Gas Wells Financials FY2016–FY2025

Last close · Oct 23, 2026

$81.03

4.2%
Compare
Revenue Total sales reported in the income statement.
$3.2B
8.7% vs prior year
Operating margin Operating income as a share of revenue.
14.8%
0.6 pts
Net income Profit after all expenses, interest and tax.
$287M
Free cash flow Cash from operations minus capital spending.
−$22.7M
267.9%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
15.3%
0.6 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$1.2B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
5.7x
On $14.34 EPS (TTM)

What Nabors Industries Ltd does

No business description yet.

Legal name
NABORS INDUSTRIES LTD
Fiscal year ends
December 31, 2025
Latest annual report
10-K · Feb 13, 2026
Accession · CIK
0001104659-26-014997
0001163739

Revenue and margins

Nabors Industries Ltd had $3.2B of revenue in fiscal 2025, up 8.7% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was −$22.7M in fiscal 2025, −0.7% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Nabors Industries Ltd returned — to shareholders in fiscal 2025. The diluted share count rose 56.7%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Balance sheet

Cash, debt and the ratios that show how comfortably Nabors Industries Ltd can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $991M$452M$1.1B$397M$941M
Debt incl. finance leases $3.3B$2.5B$3.1B$2.5B$2.5B
Net debt / EBITDA 3.7x2.9x1.9x2.0x1.4x
Debt / equity 5.5x6.9x9.6x18.6x4.2x
Interest coverage −0.5x0.2x2.3x2.0x2.2x
Current ratio 2.9x1.7x1.4x1.7x1.6x
Quick ratio 2.6x1.5x1.2x1.5x1.5x
Total assets $5.5B$4.7B$5.3B$4.5B$4.8B
Total liabilities $4.1B$3.5B$4.0B$3.3B$3.4B
Shareholders' equity $591M$369M$327M$135M$591M
Net debt (− = net cash) $2.3B$2.1B$2.1B$2.1B$1.6B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. “Plan” marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$0.0M

0 insiders

Of sales under plans

—

$0.0M

No open-market insider trades in the last 12 months.

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Net income is positive ✕ ✕ ✕ ✕ ✕ ✕ ✕ ✕ ✕ ✓
Cash from operations is positive ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓
Return on assets rose — ✓ ✕ ✕ ✕ ✓ ✓ ✓ ✕ ✓
Cash from operations exceeds net income ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓
Debt fell relative to assets — ✕ ✓ ✕ ✕ ✕ ✓ ✕ ✓ ✓
Current ratio rose — ✓ ✓ ✕ ✓ ✓ ✕ ✕ ✓ ✕
Share count didn't rise — ✕ ✓ ✕ ✕ ✕ ✕ ✕ ✕ ✕
Gross margin rose — ✕ ✓ ✓ ✓ ✕ ✓ ✓ — —
Revenue rose relative to assets — ✓ ✓ ✓ ✕ ✕ ✓ ✓ ✓ ✓
F-score — / 35 / 97 / 94 / 94 / 94 / 96 / 95 / 95 / 86 / 8
Accruals ratio −19.1%−7.3%−11.9%−19.0%−18.8%−18.1%−16.6%−13.0%−15.5%−8.8%
Altman Z'' 1.671.431.561.100.280.30−0.540.01−0.230.36

10 years of figures

Amounts in USD. Hover a ratio’s name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $2.2B $2.6B $3.1B $3.0B $2.1B $2.0B $2.7B $3.0B $2.9B $3.2B
Gross profit $884M $846M $1.1B $1.1B $801M $731M $988M $1.2B — —
Research and development $33.6M $51.1M $56.1M $50.4M $33.6M $35.2M $49.9M $56.3M $57.1M $53.1M
Operating income −$118M −$142M $58.6M $89.1M −$171M −$80.8M $44.3M $434M $417M $471M
Interest expense $185M $223M $227M $204M $206M $171M $178M $185M $211M $215M
Pretax income −$1.2B −$580M −$519M −$589M −$706M −$488M −$246M $129M −$31.0M $538M
Income tax −$187M −$83.0M $79.3M $91.6M $57.3M $55.6M $61.5M $79.2M $56.9M $163M
Net income −$1.0B −$547M −$641M −$703M −$806M −$569M −$350M −$11.8M −$176M $287M
Net income to common −$1.0B −$547M −$653M −$720M −$820M −$582M −$361M −$50.2M −$206M $247M
Diluted EPS −$3.64 −$1.90 −$99.61 −$105.39 −$118.69 −$76.58 −$40.52 −$5.49 −$22.37 $17.39
Diluted shares 0.28B 0.28B 0.01B 0.01B 0.01B 0.01B 0.01B 0.01B 0.01B 0.01B
Cash flow
Cash from operations $532M $62.8M $326M $685M $350M $429M $501M $638M $581M $693M
Capital expenditure $395M $574M $459M $428M $196M $234M $373M $541M $568M $716M
Free cash flow $136M −$512M −$133M $257M $154M $195M $128M $97.0M $13.5M −$22.7M
Depreciation and amortization $872M $843M $867M $876M $854M $693M $665M $645M $633M $649M
Stock-based compensation $32.0M $31.9M $26.4M $24.7M $24.6M $19.4M $15.8M $15.8M $16.5M $23.4M
Acquisitions $22.3M −$12.3M $20.9M $2.9M — — — — — —
Share buybacks $1.7M $18.1M — — — — — — — —
Dividends paid $50.9M $68.5M — — $22.5M $7.4M $0.1M $0.2M $0.1M —
Dividends and buybacks $52.6M $86.6M — — $22.5M $7.4M $0.1M $0.2M $0.1M —
Balance sheet
Cash and short-term investments $295M $365M $482M $452M $482M $991M $452M $1.1B $397M $941M
Total debt $3.6B $4.1B $3.6B $3.4B $3.0B $3.3B $2.5B $3.1B $2.5B $2.5B
Current assets $1.2B $1.4B $1.6B $1.2B $1.1B $1.5B $1.0B $1.6B $1,000M $1.6B
Current liabilities $822M $919M $832M $657M $515M $525M $596M $1.2B $572M $993M
Inventory $104M $166M $166M $176M $161M $126M $128M $148M $130M $94.8M
Property and equipment, net $6.3B $6.1B $5.5B $4.9B $4.0B $3.3B $3.0B $2.9B $2.8B $2.9B
Goodwill $167M $173M $184M $28.4M — — — — — —
Total assets $8.2B $8.4B $7.9B $6.8B $5.5B $5.5B $4.7B $5.3B $4.5B $4.8B
Total liabilities $4.9B $5.3B $4.7B $4.3B $3.8B $4.1B $3.5B $4.0B $3.3B $3.4B
Preferred stock — — $0.0M $0.0M $0.0M — — — — —
Shareholders' equity $3.2B $2.9B $2.7B $2.0B $1.2B $591M $369M $327M $135M $591M
Margins
Gross margin 39.7% 33.0% 35.3% 36.6% 37.5% 36.2% 37.2% 40.4% — —
Operating margin −5.3% −5.5% 1.9% 2.9% −8.0% −4.0% 1.7% 14.4% 14.2% 14.8%
EBITDA margin 33.8% 27.3% 30.3% 31.7% 32.0% 30.4% 26.7% 35.9% 35.8% 35.2%
Net margin −46.2% −21.3% −21.0% −23.1% −37.8% −28.2% −13.2% −0.4% −6.0% 9.0%
FCF margin 6.1% −20.0% −4.4% 8.4% 7.2% 9.7% 4.8% 3.2% 0.5% −0.7%
Returns
Return on capital −1.4% −1.7% 0.8% 1.4% −3.7% −2.2% 1.4% 11.8% 14.7% 15.3%
Return on capital employed −1.6% −1.9% 0.8% 1.5% −3.4% −1.6% 1.1% 10.7% 10.6% 12.4%
Return on equity −31.7% −17.8% −22.8% −30.0% −51.4% −65.4% −73.0% −3.4% −76.3% 79.0%
Return on assets −12.6% −6.6% −7.9% −9.6% −13.1% −10.3% −6.8% −0.2% −3.6% 6.2%
Return on tangible equity −33.4% −20.0% −26.0% −36.8% −71.2% −98.6% −97.7% −15.4% −152.5% 41.9%
Growth
Revenue growth — 15.1% 19.2% −0.5% −29.9% −5.5% 31.5% 13.3% −2.5% 8.7%
FCF growth — −475.0% — — −39.9% 26.3% −34.5% −24.0% −86.1% −267.9%
Share count change — 1.5% −97.6% 5.1% 0.4% 7.7% 17.0% 2.9% 0.5% 56.7%
Financial health
Net debt / EBITDA 4.4x 5.3x 3.4x 3.0x 3.7x 3.7x 2.9x 1.9x 2.0x 1.4x
Debt / equity 1.1x 1.4x 1.3x 1.7x 2.6x 5.5x 6.9x 9.6x 18.6x 4.2x
Interest coverage −0.6x −0.6x 0.3x 0.4x −0.8x −0.5x 0.2x 2.3x 2.0x 2.2x
Current ratio 1.4x 1.6x 1.9x 1.9x 2.2x 2.9x 1.7x 1.4x 1.7x 1.6x
Quick ratio 1.3x 1.4x 1.7x 1.6x 1.9x 2.6x 1.5x 1.2x 1.5x 1.5x
Capital allocation
Capex / revenue 17.8% 22.4% 15.0% 14.1% 9.2% 11.6% 14.1% 18.0% 19.4% 22.5%
Stock comp / revenue 1.4% 1.2% 0.9% 0.8% 1.2% 1.0% 0.6% 0.5% 0.6% 0.7%
Payouts / FCF 38.6% — — — 14.6% 3.8% 0.1% 0.2% 0.6% —
Quality scores
Piotroski F-score — 5.0 7.0 4.0 4.0 4.0 6.0 5.0 5.0 6.0
Altman Z'' 1.7 1.4 1.6 1.1 0.3 0.3 −0.5 0.0 −0.2 0.4
Accruals ratio −19.1% −7.3% −11.9% −19.0% −18.8% −18.1% −16.6% −13.0% −15.5% −8.8%

Source: SEC EDGAR XBRL filings (CIK 0001163739). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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