NABORS INDUSTRIES LTD NBR

Energy SIC 1381 - Drilling Oil & Gas Wells NAICS Mining, Quarrying, and Oil and Gas Extraction › Support Activities for Mining › Drilling Oil and Gas Wells derived NYSE

Nabors Industries, Ltd. (NYSE: NBR) was formed as a Bermuda exempted company on December 11, 2001. Unless the context requires otherwise, references in this annual report to "we," "us," "our," "the Company," or "Nabors" mean Nabors Industries Ltd., together with our subsidiaries. References in this annual report to "Nabors Delaware" mean Nabors Industries, Inc., a wholly owned subsidiary of Nabors.

Nabors owns and operates one of the world's largest land-based drilling rig fleets and is a provider of offshore platform rigs in the United States and numerous international markets. Nabors also supplies performance software, tubular running services, managed pressure drilling services and innovative technologies for both its own rig fleet and those operated by third parties. In addition, Nabors manufactures advanced drilling equipment and provides drilling rig instrumentation. Also, Nabors has developed a portfolio of technologies designed to drive energy efficiency and emissions reductions for both itself and third-party customers. One key component of Nabors' strategy is to seamlessly integrate downhole hardware, surface equipment and software solutions into rig designs that drive industry-leading performance and increasing efficiencies. A second component is to leverage advanced drilling automation capabilities to set new standards for operational excellence and transform the industry.

Last close 81.03 2026-10-23
Market cap $1.29B 2026-06-30 share count
52-week range 44.04 - 112.90

Valuation FY2025 figures against the last close

P/S0.4x
P/E4.7x
P/FCF—
EV/EBITDA2.5x
Dividend yield—
Diluted EPS17.39

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $3.18B$2.93B$3.01B$2.65B$2.02B$2.13B$3.04B$3.06B$2.56B$2.23B
Cost of revenue ——$1.79B$1.67B$1.29B$1.33B$1.93B$1.98B$1.72B$1.34B
Gross profit ——$1.22B$987.8M$730.7M$801.0M$1.11B$1.08B$846.2M$883.5M
R&D $53.1M$57.1M$56.3M$49.9M$35.2M$33.6M$50.4M$56.1M$51.1M$33.6M
SG&A $304.6M$249.3M$244.1M$228.4M$213.6M$203.5M$258.7M$265.8M$251.2M$227.6M
Total operating expenses $2.67B$3.00B$2.92B$2.91B$2.51B$2.84B$3.64B$3.57B$3.15B$3.21B
Operating income $471.1M$416.8M$433.7M$44.3M-$80.8M-$171.5M$89.1M$58.6M-$141.9M-$118.3M
Interest expense $215.4M$210.9M$185.3M$177.9M$171.5M$206.3M$204.3M$227.1M$222.9M$185.4M
Pre-tax income $537.5M-$31.0M$129.1M-$245.7M-$488.1M-$705.6M-$588.9M-$518.8M-$580.1M-$1.20B
Income tax $163.1M$56.9M$79.2M$61.5M$55.6M$57.3M$91.6M$79.3M$83.0M$186.8M
Net income $286.6M-$176.1M-$11.8M-$350.3M-$572.9M-$805.6M-$702.9M-$640.9M-$546.8M-$1.03B
EPS, basic 18.75-22.37-5.49-40.52-76.58-118.69-105.39-99.61-1.90-3.64
EPS, diluted 17.39-22.37-5.49-40.52-76.58-118.69-105.39-99.61-1.90-3.64
Shares, diluted (wtd. avg.) 14.4M9.2M9.2M8.9M7.6M7.1M7.0M6.7M280.7M276.5M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $940.7M$389.7M$1.06B$451.0M$991.5M$472.2M$436.0M$447.8M$337.0M$264.1M
Short-term investments $31.0K$7.6M$12.7M$1.3M$17.0K$9.5M$16.5M$34.0M$28.4M$31.1M
Receivables $391.7M$388.0M$347.8M$327.4M$287.6M$363.0M$453.0M$756.3M$698.5M$508.4M
Inventory $94.8M$130.0M$147.8M$127.9M$126.4M$160.6M$176.3M$165.6M$166.3M$103.6M
Total current assets $1.55B$999.5M$1.65B$1.00B$1.50B$1.13B$1.25B$1.59B$1.45B$1.16B
Property, plant and equipment $2.92B$2.83B$2.90B$3.03B$3.35B$3.99B$4.93B$5.47B$6.11B$6.27B
Goodwill ——————$28.4M$183.9M$173.2M$166.9M
Total assets $4.79B$4.50B$5.28B$4.73B$5.53B$5.50B$6.76B$7.85B$8.40B$8.19B
Accounts payable $300.5M$321.0M$294.4M$314.0M$253.7M$220.9M$295.2M$392.8M$363.4M$264.6M
Short-term debt $377.5M—$629.6M————$561.0K$181.0K$297.0K
Total current liabilities $993.0M$571.9M$1.21B$596.4M$525.2M$515.5M$656.5M$832.1M$919.5M$821.9M
Long-term debt $2.12B$2.51B$2.51B$2.54B$3.26B$2.97B$3.33B$3.59B$4.03B$3.58B
Total liabilities $3.35B$3.30B$4.00B$3.51B$4.13B$3.80B$4.29B$4.70B$5.26B$4.93B
Retained earnings -$1.84B-$2.09B-$1.89B-$1.84B-$1.54B-$946.1M-$104.8M$650.8M$1.42B$2.03B
Total equity $590.7M$135.0M$542.0M$536.8M$718.9M$1.26B$2.05B$2.75B$2.94B$3.25B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $693.3M$581.4M$637.9M$501.1M$428.8M$349.8M$684.6M$325.8M$62.8M$531.9M
Depreciation and amortisation $648.8M$632.9M$644.9M$663.1M$693.4M$853.7M$876.1M$866.9M$842.9M$871.6M
Stock-based compensation $23.4M$16.5M$15.8M$15.8M$19.4M$24.6M$24.7M$26.4M$31.9M$32.0M
Capital expenditure $715.9M$567.9M$540.9M$373.4M$234.0M$195.5M$427.7M$458.9M$574.5M$395.5M
Investing cash flow $97.1M-$555.5M-$570.4M-$368.7M-$117.2M-$165.5M-$355.9M-$367.1M-$497.9M-$382.2M
Financing cash flow -$566.8M-$662.0M$592.6M-$661.5M$488.4M-$148.0M-$331.6M$155.6M$512.2M-$138.2M
Dividends paid —$87.0K$194.0K$65.0K$7.4M$22.5M—$21.5M$68.5M$50.9M
Buybacks ————————$18.1M$1.7M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001140361-26-016154.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -2B 0 2B 4B Revenue, FY2016: 2.2B Gross profit, FY2016: 883.5M Net income, FY2016: -1B Revenue, FY2017: 2.6B Gross profit, FY2017: 846.2M Net income, FY2017: -546.8M Revenue, FY2018: 3.1B Gross profit, FY2018: 1.1B Net income, FY2018: -640.9M Revenue, FY2019: 3B Gross profit, FY2019: 1.1B Net income, FY2019: -702.9M Revenue, FY2020: 2.1B Gross profit, FY2020: 801M Net income, FY2020: -805.6M Revenue, FY2021: 2B Gross profit, FY2021: 730.7M Net income, FY2021: -572.9M Revenue, FY2022: 2.7B Gross profit, FY2022: 987.8M Net income, FY2022: -350.3M Revenue, FY2023: 3B Gross profit, FY2023: 1.2B Net income, FY2023: -11.8M Revenue, FY2024: 2.9B Net income, FY2024: -176.1M Revenue, FY2025: 3.2B Net income, FY2025: 286.6M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $2.23B $2.56B $3.06B $3.04B $2.13B $2.02B $2.65B $3.01B $2.93B $3.18B
Gross profit $883.5M $846.2M $1.08B $1.11B $801.0M $730.7M $987.8M $1.22B — —
Net income -$1.03B -$546.8M -$640.9M -$702.9M -$805.6M -$572.9M -$350.3M -$11.8M -$176.1M $286.6M

Recent filings and events

  • Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Material agreement signed Item 1.01
  • New debt or obligation Item 2.03
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

Others in SIC 1381

TickerCompanyMarket capP/ERevenue growth
NE Noble Corp plc $7.61B 35.3x 7.4%
RIG Transocean Ltd. $7.16B — 12.5%
VAL Valaris Ltd $6.76B 7.0x 24.0%
PTEN PATTERSON UTI ENERGY INC $4.57B — -9.8%
HP Helmerich & Payne, Inc. $3.89B — 34.0%
SDRL Seadrill Ltd $3.27B — 7.9%
HPK HighPeak Energy, Inc. $1.46B 82.6x -22.7%
BTE BAYTEX ENERGY CORP. — — —