NYSE : NBR

Nabors Industries Ltd. — Financial statements

Energy · Oil & Gas Drilling · Bermuda

Last price 90.78 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 1.34B

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Financial statements

Nabors Industries Ltd. (NBR) reported revenue of 3.27B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.

Income statement

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Revenue3.27B3.18B2.93B3.01B2.65B2.02B
Cost of Revenue2.02B1.91B1.74B1.79B1.67B1.29B
Gross Profit1.24B1.27B1.19B1.22B987.76M730.23M
Selling, General & Admin296.15M304.59M249.32M244.15M228.43M213.56M
Research & Development54.38M53.06M57.06M56.30M49.94M35.15M
Operating Expenses986.20M1.01B939.79M945.74M943.44M942.09M
Operating Income257.90M263.43M247.93M269.86M44.32M-211.86M
Interest Expense-179.15M-215.37M-210.86M-185.28M-177.90M-171.48M
Interest & Investment Income16.76M27.65M38.71M43.82M14.99M1.56M
Currency Exchange Gain (Loss)-5.67M-5.67M-28.15M-37.28M-6.69M-4.81M
Other Non Operating Income (Expenses)65.93M-5.69M-1.07M63.66M-102.50M-17.77M
EBT Excluding Unusual Items155.77M64.35M46.55M154.77M-227.77M-404.35M
Merger & Restructuring Charges-43.66M-43.66M-4.02M-2.26M-6.23M
Gain (Loss) on Sale of Investments-15.18M-15.18M-26.08M-8.29M
Gain (Loss) on Sale of Assets45.28M460.83M-26.36M-13.92M-7.35M-23.88M
Asset Writedown-26.46M-26.46M-58.76M
Legal Settlements-480.00K-480.00K-6.28M-26.45M-15.16M-8.29M
Other Unusual Items-18.38M98.11M-14.86M25.27M4.60M13.42M
Pretax Income96.89M537.53M-31.04M129.12M-245.68M-488.09M
Income Tax Expense61.17M163.09M56.95M79.22M61.54M55.62M
Earnings From Continuing Operations35.72M374.43M-87.99M49.90M-307.22M-543.71M
Earnings From Discontinued Operations20.00K
Net Income to Company35.72M374.43M-87.99M49.90M-307.22M-543.69M
Minority Interest in Earnings-74.03M-87.81M-88.10M-61.69M-43.04M-25.58M
Net Income-38.31M286.62M-176.08M-11.78M-350.26M-569.27M
Preferred Dividends & Other Adjustments27.91M39.28M29.72M38.46M10.32M13.10M
Net Income to Common-66.22M247.34M-205.81M-50.25M-360.58M-582.37M
Shares Outstanding (Basic)14.28M13.19M9.20M9.16M8.90M7.61M
Shares Outstanding (Diluted)14.28M14.42M9.20M9.16M8.90M7.61M
EPS (Basic)-4.6418.75-22.37-5.49-40.52-76.58
EPS (Diluted)-4.6417.39-22.37-5.49-40.52-76.58
Free Cash Flow-22.68M13.51M97.01M127.64M194.74M
Free Cash Flow Per Share-1.571.4710.5914.3525.61
Gross Margin38.07%39.89%40.53%40.44%37.22%36.19%
Operating Margin7.89%8.27%8.46%8.98%1.67%-10.50%
Profit Margin-2.03%7.77%-7.02%-1.67%-13.59%-28.87%
Free Cash Flow Margin-0.71%0.46%3.23%4.81%9.65%
EBITDA898.74M912.67M881.34M915.15M709.39M481.52M
EBITDA Margin27.50%28.66%30.08%30.44%26.73%23.87%
D&A For EBITDA640.84M649.23M633.41M645.29M665.07M693.38M
EBIT257.90M263.43M247.93M269.86M44.32M-211.86M
EBIT Margin7.89%8.27%8.46%8.98%1.67%-10.50%
Effective Tax Rate63.14%30.34%61.35%
Revenue as Reported3.28B3.21B2.97B3.05B2.67B2.02B

Balance sheet

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Cash & Equivalents475.14M940.71M389.65M1.06B451.02M991.47M
Short-Term Investments31.00K7.65M12.69M1.29M17.00K
Cash & Short-Term Investments475.14M940.74M397.30M1.07B452.31M991.49M
Receivables511.66M391.70M387.97M347.84M351.00M312.47M
Inventory94.79M129.98M147.80M127.95M126.45M
Other Current Assets218.31M124.34M84.29M79.86M69.36M71.40M
Total Current Assets1.21B1.55B999.54M1.65B1.00B1.50B
Property, Plant & Equipment2.88B2.96B2.86B2.93B3.06B3.37B
Long-Term Accounts Receivable100.00K1.90M
Long-Term Deferred Tax Assets189.22M216.30M238.87M257.32M258.63M
Other Long-Term Assets353.93M88.75M428.82M464.04M411.21M391.48M
Total Assets4.44B4.79B4.50B5.28B4.73B5.53B
Accounts Payable370.48M300.47M321.03M294.44M314.04M253.75M
Accrued Expenses215.39M182.36M181.08M191.09M172.42M
Current Portion of Long-Term Debt377.49M629.62M
Current Portion of Leases9.74M6.77M5.42M6.78M5.42M
Current Income Taxes Payable26.30M20.36M54.26M27.99M18.89M
Current Unearned Revenue53.53M30.90M29.23M37.81M59.82M
Other Current Liabilities309.51M10.09M10.49M19.92M18.68M14.94M
Total Current Liabilities679.99M993.00M571.92M1.21B596.39M525.23M
Long-Term Debt2.02B2.12B2.51B2.51B2.54B3.26B
Long-Term Leases30.47M22.14M25.71M27.79M18.72M
Long-Term Unearned Revenue3.20M29.30M
Long-Term Deferred Tax Liabilities7.13M2.49M1.37M2.86M2.77M
Other Long-Term Liabilities245.30M204.23M196.20M244.30M346.69M292.32M
Total Liabilities2.95B3.35B3.30B4.00B3.51B4.13B
Common Stock565.91M785.00K533.00K527.00K525.00K466.00K
Additional Paid-In Capital3.75B3.55B3.54B3.54B3.45B
Retained Earnings-1.84B-2.09B-1.89B-1.84B-1.54B
Treasury Stock-1.32B-1.32B-1.32B-1.32B-1.32B
Comprehensive Income & Other-10.40M-10.41M-10.83M-11.04M-10.63M
Total Common Equity565.91M590.73M135.00M326.61M368.96M590.66M
Minority Interest929.36M846.92M1.07B954.47M846.44M803.57M
Shareholders' Equity1.50B1.44B1.21B1.28B1.22B1.39B
Total Liabilities & Equity4.44B4.79B4.50B5.28B4.73B5.53B
Total Debt2.02B2.53B2.53B3.17B2.57B3.29B
Net Cash (Debt)-1.55B-1.59B-2.14B-2.10B-2.12B-2.30B
Net Cash Per Share-108.37-110.58-232.21-229.51-238.23-301.83
Filing Date Shares Outstanding14.50M14.67M9.60M9.47M9.46M8.57M
Total Common Shares Outstanding14.50M14.54M9.50M9.39M9.41M8.20M
Working Capital525.12M558.57M427.62M431.70M404.23M976.58M
Book Value Per Share39.0240.6214.2134.7639.1971.99
Tangible Book Value565.91M590.73M135.00M326.61M368.96M590.66M
Tangible Book Value Per Share39.0240.6214.2134.7639.1971.99
Land27.54M31.53M32.07M22.67M22.95M
Buildings172.46M158.52M140.33M134.06M130.92M
Machinery13.05B12.57B12.43B12.17B12.16B

Cash flow statement

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Net Income286.62M-176.08M-11.78M-350.26M-569.27M
Depreciation & Amortization649.23M633.41M645.29M665.07M693.38M
Other Amortization10.44M8.81M8.73M8.14M21.36M
Loss (Gain) From Sale of Assets-478.97M27.93M13.92M7.35M23.86M
Asset Writedown & Restructuring Costs34.80M26.08M8.32M72.50M
Loss (Gain) From Sale of Investments500.00K4.58M-7.17M
Stock-Based Compensation23.38M16.50M15.84M15.83M19.36M
Provision & Write-off of Bad Debts-2.52M
Other Operating Activities94.72M141.43M37.32M149.73M7.55M
Change in Accounts Receivable80.56M-42.44M-27.13M-54.50M71.81M
Change in Inventory33.44M16.10M-19.43M928.00K32.04M
Change in Accounts Payable-51.31M-25.15M-32.39M61.64M12.14M
Change in Income Taxes636.00K-34.59M24.14M8.62M5.14M
Change in Other Net Operating Assets9.20M-15.14M-17.80M-11.45M67.01M
Operating Cash Flow693.27M581.43M637.86M501.09M428.78M
Capital Expenditures-715.95M-567.92M-540.85M-373.44M-234.04M
Sale of Property, Plant & Equipment721.48M15.50M14.13M26.71M124.30M
Cash Acquisitions84.43M
Investment in Securities-4.35M-7.72M-38.28M-21.12M-14.70M
Other Investing Activities11.47M4.68M-5.42M-860.00K7.21M
Investing Cash Flow97.09M-555.46M-570.42M-368.71M-117.22M
Short-Term Debt Issued398.00M315.00M290.00M
Long-Term Debt Issued700.00M550.00M900.00M335.00M1.73B
Total Debt Issued1.10B865.00M1.19B335.00M1.73B
Short-Term Debt Repaid-398.00M-315.00M-290.00M
Long-Term Debt Repaid-902.68M-1.20B-298.47M-977.60M-1.42B
Total Debt Repaid-1.30B-1.51B-588.47M-977.60M-1.42B
Net Debt Issued (Repaid)-202.68M-647.02M601.53M-642.60M300.54M
Common Dividends Paid-6.05M
Dividends Paid-6.05M-65.00K-7.38M
Other Financing Activities-358.06M-15.03M-8.93M-18.87M195.26M
Financing Cash Flow-566.79M-662.05M592.59M-661.53M488.42M
Foreign Exchange Rate Adjustments-3.68M-15.15M-22.99M-7.22M-1.74M
Net Cash Flow219.88M-651.22M637.04M-536.37M798.23M
Free Cash Flow-22.68M13.51M97.01M127.64M194.74M
Free Cash Flow Margin-0.71%0.46%3.23%4.81%9.65%
Free Cash Flow Per Share-1.571.4710.5914.3525.61
Levered Free Cash Flow29.18M73.44M144.02M263.92M412.52M
Unlevered Free Cash Flow153.34M196.42M251.08M366.97M498.33M
Cash Interest Paid209.17M198.56M186.92M189.75M161.93M
Cash Income Tax Paid73.74M73.80M49.49M29.19M11.22M
Change in Working Capital72.53M-101.22M-72.61M5.23M188.13M

Ratios

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Market Capitalization1.34B790.67M545.85M772.64M1.46B668.27M
Enterprise Value2.89B3.71B3.64B3.91B4.47B3.50B
Last Close Price90.7854.3057.1781.63154.8781.09
PE Ratio3.20
Forward PE22.9025.4216.6316.6316.2934.33
PS Ratio0.410.250.190.260.550.33
PB Ratio2.330.550.450.601.200.48
P/TBV Ratio2.371.344.042.373.951.13
P/FCF Ratio33.8840.397.9611.423.43
P/OCF Ratio1.911.140.941.212.911.56
PEG Ratio10.8410.8410.8410.8410.84
EV/Sales Ratio0.881.171.241.301.681.74
EV/EBITDA Ratio3.224.074.134.276.307.28
EV/EBIT Ratio11.2114.0914.6814.48100.78
EV/FCF Ratio72.91269.2540.2734.9917.99
Debt / Equity Ratio1.351.762.102.482.122.36
Debt / EBITDA Ratio2.252.732.853.433.576.68
Debt / FCF Ratio187.5332.7020.1516.88
Net Debt / Equity Ratio1.031.111.771.641.741.65
Net Debt / EBITDA Ratio1.721.752.422.302.994.77
Net Debt / FCF Ratio-70.28158.1321.6716.6111.79
Asset Turnover0.700.690.600.600.520.37
Inventory Turnover17.0312.5412.9913.108.97
Quick Ratio1.451.341.371.171.352.48
Current Ratio1.771.561.751.361.682.86
Return on Equity (ROE)2.33%28.32%-7.07%4.00%-23.54%-35.15%
Return on Assets (ROA)3.48%3.54%3.17%3.37%0.54%-2.40%
Return on Invested Capital (ROIC)3.12%5.76%7.37%3.10%1.26%-5.36%
Return on Capital Employed (ROCE)6.90%6.90%6.30%6.60%1.10%-4.20%
Earnings Yield-5.11%36.25%-32.26%-1.52%-24.02%-85.19%
FCF Yield2.95%-2.87%2.48%12.56%8.75%29.14%
Payout Ratio2.11%
Buyback Yield / Dilution-16.40%-56.66%-0.47%-2.93%-17.00%-7.74%
Total Shareholder Return-16.40%-56.66%-0.47%-2.93%-17.00%-7.74%