NOV vs Weatherford International
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The short version
- NOV is the larger business, with $8.7B of revenue in fiscal 2025 against $4.9B for Weatherford International, about 1.8 times as much.
- NOV grew revenue faster (−1.4%, against −10.8%).
- Weatherford International kept more of each dollar of sales as operating profit (15.4% operating margin, against 5.7%).
- NOV turned more of its sales into free cash flow (10.0% FCF margin, against 9.2%).
- Weatherford International earned a higher return on the capital invested in it (29.7%, against 3.5%).
- Investors pay more for each dollar of NOV’s earnings: a P/E of 79.0x against 15.5x for Weatherford International.
| Latest fiscal year | NOV · FY25 | WFRD · FY25 |
|---|---|---|
| Size | ||
| Market cap | $7.2B | $6.3B |
| Revenue | $8.7B | $4.9B |
| Free cash flow | $876M | $450M |
| Net income | $145M | $431M |
| Growth | ||
| Revenue growth | −1.4% | −10.8% |
| 5-year growth | 7.5% | 5.9% |
| Share count change | −5.3% | −3.1% |
| Profitability | ||
| Gross margin | 20.2% | — |
| Operating margin | 5.7% | 15.4% |
| Net margin | 1.7% | 8.8% |
| FCF margin | 10.0% | 9.2% |
| Return on capital | 3.5% | 29.7% |
| Return on equity | 2.3% | 28.9% |
| Balance sheet | ||
| Net debt | $428M | $498M |
| Net debt / EBITDA | 0.5x | 0.5x |
| Dividends and buybacks | $505M | $173M |
| Valuation & quality | ||
| P/E | 79.0x | 15.5x |
| Piotroski F-score | 5 | 6 |
Revenue
FY16
NOV $7.3B
WFRD $5.7B
FY17
NOV $7.3B
WFRD $5.7B
FY18
NOV $8.5B
WFRD $5.7B
FY19
NOV $8.5B
WFRD $5.0B
FY20
NOV $6.1B
WFRD $3.7B
FY21
NOV $5.5B
WFRD $3.6B
FY22
NOV $7.2B
WFRD $4.3B
FY23
NOV $8.6B
WFRD $5.1B
FY24
NOV $8.9B
WFRD $5.5B
FY25
NOV $8.7B
WFRD $4.9B
NOV
WFRD
Operating margin
FY16
NOV −33.3%
WFRD −39.1%
FY17
NOV −3.8%
WFRD −38.1%
FY18
NOV 2.5%
WFRD −36.3%
FY19
NOV −74.1%
WFRD −23.9%
FY20
NOV −39.8%
WFRD −40.3%
FY21
NOV −2.4%
WFRD 3.2%
FY22
NOV 3.7%
WFRD 9.5%
FY23
NOV 7.6%
WFRD 16.0%
FY24
NOV 9.9%
WFRD 17.0%
FY25
NOV 5.7%
WFRD 15.4%
NOV
WFRD
Free cash flow
FY16
NOV $676M
WFRD −$508M
FY17
NOV $640M
WFRD −$613M
FY18
NOV $277M
WFRD −$428M
FY19
NOV $481M
WFRD −$997M
FY20
NOV $700M
WFRD $56.0M
FY21
NOV $90.0M
WFRD $237M
FY22
NOV −$393M
WFRD $217M
FY23
NOV −$140M
WFRD $623M
FY24
NOV $953M
WFRD $493M
FY25
NOV $876M
WFRD $450M
NOV
WFRD
Return on capital
FY16
NOV −11.2%
WFRD −17.8%
FY17
NOV −1.4%
WFRD −22.7%
FY18
NOV 0.7%
WFRD −33.3%
FY19
NOV −40.8%
WFRD —
FY20
NOV −26.2%
WFRD —
FY21
NOV −1.9%
WFRD 4.2%
FY22
NOV 3.0%
WFRD 10.8%
FY23
NOV 9.7%
WFRD 39.0%
FY24
NOV 9.2%
WFRD 36.3%
FY25
NOV 3.5%
WFRD 29.7%
NOV
WFRD
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.