NOV Inc. (NOV) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+106.3%

$39.21

vs $19.01 price

Levered DCF

$85.29

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

2.04

Grey zone

Rating

B-

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	40.08×	9.01×	8.02×	52.23×	-20.85×	-2.08×	-1.57×	-313.41×
P/B	0.93×	0.9×	1.29×	1.6×	1.05×	1.01×	1.23×	0.7×
P/S	0.66×	0.65×	0.93×	1.13×	0.95×	0.87×	1.13×	1.15×
EV / EBITDA	8.07×	5.44×	9.51×	15.31×	39.39×	-2.62×	-1.92×	13.35×
Gross margin	20.2%	22.7%	21.4%	18.4%	14.0%	7.1%	10.0%	17.1%
Operating margin	6.5%	9.9%	7.6%	3.6%	-2.4%	-39.8%	-74.1%	2.5%
Net margin	1.7%	7.2%	11.6%	2.1%	-4.5%	-41.7%	-71.9%	-0.4%
Current ratio	2.42×	2.46×	2.4×	2.25×	2.57×	2.79×	2.72×	3.11×
Debt / equity	0.37×	0.37×	0.39×	0.46×	0.48×	0.49×	0.36×	0.2×
Interest coverage	6.41×	9.63×	7.4×	3.38×	-1.74×	-28.87×	-62.79×	2.27×
Dividend yield	3.3%	1.9%	1.0%	1.0%	0.4%	0.4%	0.8%	0.8%
Payout ratio	131.0%	17.0%	8.0%	50.3%	-8.0%	-0.7%	-1.3%	-245.2%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	2.3%	10.0%	16.1%	3.0%	-5.0%	-48.8%	-78.4%	-0.2%
Return on invested capital	2.5%	7.3%	7.3%	2.2%	-1.7%	-27.1%	-53.7%	-0.6%
Return on assets	1.3%	5.6%	8.8%	1.5%	-2.6%	-25.6%	-46.4%	-0.2%
Free cash flow yield	14.9%	16.7%	-1.8%	-4.8%	1.7%	13.3%	5.0%	2.9%
Earnings yield	2.5%	11.1%	12.5%	1.9%	-4.8%	-48.2%	-63.7%	-0.3%
Enterprise value	$6.6B	$6.9B	$9.5B	$9.4B	$6B	$6.1B	$11.2B	$11B
Net debt / EBITDA	0.96×	0.91×	1.56×	2.1×	5.21×	-0.37×	-0.28×	1.56×
Cash conversion cycle (days)	147	157	180	178	173	172	178	233