NYSE : DNOW
DNOW Inc. — Financial statements
Industrials · Industrial Distribution · United States
Last price 16.31 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 2.95B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
DNOW Inc. (DNOW) reported revenue of 4.08B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 4.08B | 2.82B | 2.37B | 2.32B | 2.14B | 1.63B |
| Cost of Revenue | 3.26B | 2.21B | 1.83B | 1.78B | 1.63B | 1.27B |
| Gross Profit | 826.00M | 613.00M | 538.00M | 539.00M | 506.00M | 357.00M |
| Selling, General & Admin | 752.00M | 494.00M | 407.00M | 388.00M | 355.00M | 341.00M |
| Other Operating Expenses | -1.00M | |||||
| Operating Expenses | 752.00M | 494.00M | 407.00M | 388.00M | 355.00M | 340.00M |
| Operating Income | 74.00M | 119.00M | 131.00M | 151.00M | 151.00M | 17.00M |
| Interest Expense | -4.00M | -2.00M | -1.00M | -1.00M | ||
| Currency Exchange Gain (Loss) | -2.00M | -2.00M | -1.00M | -1.00M | -2.00M | -1.00M |
| Other Non Operating Income (Expenses) | -21.00M | -3.00M | 3.00M | 1.00M | -3.00M | -6.00M |
| EBT Excluding Unusual Items | 47.00M | 112.00M | 132.00M | 150.00M | 146.00M | 10.00M |
| Merger & Restructuring Charges | -246.00M | -200.00M | -16.00M | -3.00M | ||
| Gain (Loss) on Sale of Assets | -12.00M | -12.00M | -6.00M | -10.00M | ||
| Asset Writedown | -4.00M | -8.00M | ||||
| Legal Settlements | -5.00M | -5.00M | ||||
| Other Unusual Items | 8.00M | 10.00M | ||||
| Pretax Income | -215.00M | -100.00M | 110.00M | 142.00M | 139.00M | 12.00M |
| Income Tax Expense | -26.00M | -12.00M | 31.00M | -109.00M | 10.00M | 7.00M |
| Earnings From Continuing Operations | -189.00M | -88.00M | 79.00M | 251.00M | 129.00M | 5.00M |
| Minority Interest in Earnings | -1.00M | -1.00M | -1.00M | -1.00M | ||
| Net Income | -189.00M | -89.00M | 78.00M | 250.00M | 128.00M | 5.00M |
| Preferred Dividends & Other Adjustments | -1.00M | 2.00M | 4.00M | 2.00M | ||
| Net Income to Common | -188.00M | -89.00M | 76.00M | 246.00M | 126.00M | 5.00M |
| Shares Outstanding (Basic) | 157.03M | 117.88M | 106.35M | 107.40M | 110.68M | 110.40M |
| Shares Outstanding (Diluted) | 157.03M | 117.88M | 107.15M | 108.42M | 111.22M | 110.49M |
| EPS (Basic) | -1.20 | -0.76 | 0.71 | 2.29 | 1.14 | 0.05 |
| EPS (Diluted) | -1.20 | -0.76 | 0.71 | 2.27 | 1.13 | 0.05 |
| Free Cash Flow | 136.00M | 134.00M | 289.00M | 171.00M | -9.00M | 25.00M |
| Free Cash Flow Per Share | 0.87 | 1.14 | 2.70 | 1.58 | -0.08 | 0.23 |
| Gross Margin | 20.23% | 21.74% | 22.67% | 23.22% | 23.69% | 21.88% |
| Operating Margin | 1.81% | 4.22% | 5.52% | 6.51% | 7.07% | 1.04% |
| Profit Margin | -4.60% | -3.16% | 3.20% | 10.60% | 5.90% | 0.31% |
| Free Cash Flow Margin | 3.33% | 4.75% | 12.18% | 7.37% | -0.42% | 1.53% |
| EBITDA | 151.00M | 171.00M | 165.00M | 177.00M | 170.00M | 40.00M |
| EBITDA Margin | 3.70% | 6.06% | 6.95% | 7.63% | 7.96% | 2.45% |
| D&A For EBITDA | 77.00M | 52.00M | 34.00M | 26.00M | 19.00M | 23.00M |
| EBIT | 74.00M | 119.00M | 131.00M | 151.00M | 151.00M | 17.00M |
| EBIT Margin | 1.81% | 4.22% | 5.52% | 6.51% | 7.07% | 1.04% |
| Effective Tax Rate | 28.18% | 7.19% | 58.33% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 114.00M | 164.00M | 256.00M | 299.00M | 212.00M | 313.00M |
| Cash & Short-Term Investments | 114.00M | 164.00M | 256.00M | 299.00M | 212.00M | 313.00M |
| Receivables | 889.00M | 874.00M | 388.00M | 384.00M | 398.00M | 304.00M |
| Inventory | 1.06B | 1.19B | 352.00M | 366.00M | 381.00M | 250.00M |
| Prepaid Expenses | 52.00M | 48.00M | 32.00M | 19.00M | 26.00M | 16.00M |
| Total Current Assets | 2.12B | 2.28B | 1.03B | 1.07B | 1.02B | 883.00M |
| Property, Plant & Equipment | 405.00M | 424.00M | 197.00M | 171.00M | 155.00M | 138.00M |
| Goodwill | 700.00M | 617.00M | 230.00M | 139.00M | 116.00M | 67.00M |
| Other Intangible Assets | 556.00M | 565.00M | 65.00M | 28.00M | 25.00M | 9.00M |
| Long-Term Deferred Tax Assets | 10.00M | 11.00M | 93.00M | 118.00M | ||
| Other Long-Term Assets | 28.00M | 29.00M | 8.00M | 5.00M | 7.00M | 7.00M |
| Total Assets | 3.82B | 3.92B | 1.62B | 1.53B | 1.32B | 1.10B |
| Accounts Payable | 711.00M | 653.00M | 300.00M | 288.00M | 304.00M | 235.00M |
| Accrued Expenses | 141.00M | 205.00M | 86.00M | 81.00M | 80.00M | 70.00M |
| Current Portion of Leases | 66.00M | 57.00M | 23.00M | 18.00M | 17.00M | 19.00M |
| Current Unearned Revenue | 73.00M | 50.00M | 31.00M | 28.00M | 33.00M | 27.00M |
| Other Current Liabilities | 9.00M | 2.00M | 3.00M | 5.00M | 18.00M | |
| Total Current Liabilities | 991.00M | 974.00M | 442.00M | 418.00M | 439.00M | 369.00M |
| Long-Term Debt | 474.00M | 411.00M | ||||
| Long-Term Leases | 109.00M | 146.00M | 44.00M | 45.00M | 32.00M | 20.00M |
| Long-Term Deferred Tax Liabilities | 74.00M | 99.00M | 1.00M | |||
| Other Long-Term Liabilities | 70.00M | 56.00M | 7.00M | 3.00M | 4.00M | 3.00M |
| Total Liabilities | 1.72B | 1.69B | 493.00M | 466.00M | 476.00M | 392.00M |
| Common Stock | 2.00M | 2.00M | 1.00M | 1.00M | 1.00M | 1.00M |
| Additional Paid-In Capital | 3.12B | 3.19B | 2.02B | 2.03B | 2.07B | 2.06B |
| Retained Earnings | -901.00M | -836.00M | -747.00M | -828.00M | -1.07B | -1.20B |
| Comprehensive Income & Other | -131.00M | -126.00M | -153.00M | -145.00M | -150.00M | -147.00M |
| Total Common Equity | 2.09B | 2.23B | 1.12B | 1.06B | 842.00M | 711.00M |
| Minority Interest | 5.00M | 5.00M | 4.00M | 3.00M | 2.00M | 1.00M |
| Shareholders' Equity | 2.10B | 2.24B | 1.13B | 1.06B | 844.00M | 712.00M |
| Total Liabilities & Equity | 3.82B | 3.92B | 1.62B | 1.53B | 1.32B | 1.10B |
| Total Debt | 649.00M | 614.00M | 67.00M | 63.00M | 49.00M | 39.00M |
| Net Cash (Debt) | -535.00M | -450.00M | 189.00M | 236.00M | 163.00M | 274.00M |
| Net Cash Per Share | -3.41 | -3.82 | 1.76 | 2.18 | 1.47 | 2.48 |
| Filing Date Shares Outstanding | 180.79M | 186.35M | 105.69M | 106.17M | 110.33M | 110.56M |
| Total Common Shares Outstanding | 180.91M | 186.13M | 105.65M | 106.26M | 110.37M | 110.56M |
| Working Capital | 1.13B | 1.30B | 586.00M | 650.00M | 578.00M | 514.00M |
| Book Value Per Share | 11.57 | 12.00 | 10.64 | 9.98 | 7.63 | 6.43 |
| Tangible Book Value | 837.00M | 1.05B | 829.00M | 893.00M | 701.00M | 635.00M |
| Tangible Book Value Per Share | 4.63 | 5.65 | 7.85 | 8.40 | 6.35 | 5.74 |
| Buildings | 102.00M | 100.00M | 97.00M | 94.00M | 91.00M | |
| Machinery | 332.00M | 152.00M | 126.00M | 141.00M | 129.00M | |
| Construction In Progress | 5.00M | 3.00M | 2.00M | 4.00M | 3.00M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -189.00M | -89.00M | 78.00M | 250.00M | 128.00M | 5.00M |
| Depreciation & Amortization | 77.00M | 52.00M | 34.00M | 26.00M | 19.00M | 23.00M |
| Loss (Gain) From Sale of Assets | 12.00M | 12.00M | 6.00M | 10.00M | ||
| Asset Writedown & Restructuring Costs | 4.00M | 8.00M | ||||
| Stock-Based Compensation | 31.00M | 29.00M | 13.00M | 15.00M | 11.00M | 8.00M |
| Other Operating Activities | 75.00M | 36.00M | 48.00M | -94.00M | 12.00M | 19.00M |
| Change in Accounts Receivable | 55.00M | 40.00M | 81.00M | 16.00M | -95.00M | -97.00M |
| Change in Inventory | 165.00M | 107.00M | 80.00M | 12.00M | -138.00M | 3.00M |
| Change in Accounts Payable | 7.00M | -37.00M | -15.00M | -20.00M | 63.00M | 64.00M |
| Change in Other Net Operating Assets | -73.00M | 5.00M | -27.00M | -17.00M | -10.00M | -3.00M |
| Operating Cash Flow | 164.00M | 155.00M | 298.00M | 188.00M | 30.00M | |
| Capital Expenditures | -28.00M | -21.00M | -9.00M | -17.00M | -9.00M | -5.00M |
| Cash Acquisitions | -612.00M | -574.00M | -299.00M | -32.00M | -80.00M | -96.00M |
| Other Investing Activities | 5.00M | 5.00M | 4.00M | 1.00M | 2.00M | 5.00M |
| Investing Cash Flow | -635.00M | -590.00M | -304.00M | -48.00M | -87.00M | -96.00M |
| Long-Term Debt Issued | 643.00M | |||||
| Long-Term Debt Repaid | -232.00M | -3.00M | -6.00M | |||
| Net Debt Issued (Repaid) | 474.00M | 411.00M | -3.00M | -6.00M | ||
| Repurchase of Common Stock | -101.00M | -56.00M | -27.00M | -51.00M | -7.00M | |
| Other Financing Activities | -18.00M | -16.00M | -6.00M | -4.00M | ||
| Financing Cash Flow | 355.00M | 339.00M | -33.00M | -55.00M | -10.00M | -6.00M |
| Foreign Exchange Rate Adjustments | -2.00M | 4.00M | -4.00M | 2.00M | -4.00M | -2.00M |
| Net Cash Flow | -118.00M | -92.00M | -43.00M | 87.00M | -101.00M | -74.00M |
| Free Cash Flow | 136.00M | 134.00M | 289.00M | 171.00M | -9.00M | 25.00M |
| Free Cash Flow Margin | 3.33% | 4.75% | 12.18% | 7.37% | -0.42% | 1.53% |
| Free Cash Flow Per Share | 0.87 | 1.14 | 2.70 | 1.58 | -0.08 | 0.23 |
| Levered Free Cash Flow | -536.25M | -710.88M | 135.25M | 131.75M | -47.62M | 40.62M |
| Unlevered Free Cash Flow | -533.75M | -709.62M | 135.88M | 132.38M | -47.62M | 40.62M |
| Cash Interest Paid | 18.00M | 4.00M | ||||
| Cash Income Tax Paid | 10.00M | 3.00M | 6.00M | 10.00M | 11.00M | |
| Change in Working Capital | 154.00M | 115.00M | 119.00M | -9.00M | -180.00M | -33.00M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 2.95B | 2.46B | 1.38B | 1.20B | 1.40B | 944.17M |
| Enterprise Value | 3.48B | 2.25B | 1.19B | 1.05B | 1.16B | 672.17M |
| Last Close Price | 16.31 | 13.25 | 13.01 | 11.32 | 12.70 | 8.54 |
| PE Ratio | 18.12 | 4.89 | 11.13 | 188.83 | ||
| Forward PE | 28.75 | 13.30 | 17.86 | 12.09 | 14.68 | 29.22 |
| PS Ratio | 0.72 | 0.87 | 0.58 | 0.52 | 0.66 | 0.58 |
| PB Ratio | 1.41 | 1.10 | 1.22 | 1.13 | 1.66 | 1.33 |
| P/TBV Ratio | 3.52 | 2.34 | 1.66 | 1.35 | 2.00 | 1.49 |
| P/FCF Ratio | 21.68 | 18.36 | 4.76 | 7.04 | 37.77 | |
| P/OCF Ratio | 17.98 | 15.87 | 4.62 | 6.40 | 31.47 | |
| PEG Ratio | 15.01 | 15.01 | 15.01 | 15.01 | 15.01 | |
| EV/Sales Ratio | 0.85 | 0.80 | 0.50 | 0.45 | 0.54 | 0.41 |
| EV/EBITDA Ratio | 23.07 | 13.14 | 7.18 | 5.94 | 6.83 | 16.80 |
| EV/EBIT Ratio | 47.08 | 18.88 | 9.05 | 6.96 | 7.69 | 39.54 |
| EV/FCF Ratio | 25.61 | 16.77 | 4.10 | 6.15 | 26.89 | |
| Debt / Equity Ratio | 0.31 | 0.27 | 0.06 | 0.06 | 0.06 | 0.06 |
| Debt / EBITDA Ratio | 3.47 | 3.02 | 0.35 | 0.31 | 0.26 | 0.58 |
| Debt / FCF Ratio | 4.77 | 4.58 | 0.23 | 0.37 | 1.56 | |
| Net Debt / Equity Ratio | 0.26 | 0.20 | -0.17 | -0.22 | -0.19 | -0.39 |
| Net Debt / EBITDA Ratio | 3.54 | 2.63 | -1.15 | -1.33 | -0.96 | -6.85 |
| Net Debt / FCF Ratio | 3.93 | 3.36 | -0.65 | -1.38 | 18.11 | -10.96 |
| Asset Turnover | 1.49 | 1.02 | 1.51 | 1.63 | 1.76 | 1.54 |
| Inventory Turnover | 4.51 | 2.86 | 5.11 | 4.77 | 5.17 | 4.98 |
| Quick Ratio | 1.01 | 1.07 | 1.46 | 1.63 | 1.39 | 1.67 |
| Current Ratio | 2.14 | 2.34 | 2.33 | 2.56 | 2.32 | 2.39 |
| Return on Equity (ROE) | -11.60% | -5.23% | 7.21% | 26.32% | 16.58% | 0.71% |
| Return on Assets (ROA) | 1.69% | 2.68% | 5.20% | 6.62% | 7.79% | 1.01% |
| Return on Invested Capital (ROIC) | 2.74% | 6.56% | 10.66% | 20.03% | 25.05% | 1.76% |
| Return on Capital Employed (ROCE) | 2.60% | 4.00% | 11.10% | 13.60% | 17.10% | 2.30% |
| Earnings Yield | -7.34% | -3.62% | 5.66% | 20.77% | 9.13% | 0.53% |
| FCF Yield | 4.61% | 5.45% | 20.99% | 14.21% | -0.64% | 2.65% |
| Buyback Yield / Dilution | -47.32% | -10.02% | 1.18% | 2.52% | -0.66% | -1.00% |