Nine Energy Service, Inc. NINE
Nine Energy Service, Inc. (either individually or together with its subsidiaries, as the context requires, the "Company," "Nine," "we," "us," and "our") is a Delaware corporation that was formed in February 2013 through a combination of three service companies owned by SCF Partners, L.P. or its affiliates. Nine is a leading completion services provider that targets unconventional oil and gas resource development across North American basins and abroad. We partner with our exploration and production ("E&P") customers to design and deploy downhole solutions and technology to prepare horizontal, multistage wells for production. We focus on providing our customers with cost-effective and comprehensive completion solutions designed to maximize their production levels and operating efficiencies. We believe our success is a product of our culture, which is driven by our intense focus on performance and wellsite execution as well as our commitment to forward-leaning technologies that aid us in the development of smarter, customized applications that drive efficiencies.
Valuation FY2025 figures against the last close
Where the revenue comes from as reported in the latest 10-K
Revenue by geography
- United States
- International
| Region | FY2025 |
|---|---|
| United States | $550.6M |
| International | $11.3M |
As the company reported it, from the “Revenues - Schedule of Geographic Areas (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $561.9M | $554.1M | $609.5M | $593.4M | $349.4M | $310.9M | $832.9M | $827.2M | $543.7M | $282.4M |
| Cost of revenue | — | — | — | — | — | $302.2M | $670.0M | $639.3M | $448.5M | $246.1M |
| Gross profit | — | — | — | — | — | $8.7M | $163.0M | $187.9M | $95.2M | $36.2M |
| SG&A | $59.7M | $51.3M | $59.8M | $51.7M | $45.3M | $49.3M | $81.3M | $73.1M | $49.5M | $39.4M |
| Operating income | $2.3M | $8.9M | $17.6M | $43.6M | -$50.0M | -$383.2M | -$182.7M | -$28.3M | -$57.0M | -$83.0M |
| Interest expense | $55.2M | $51.3M | $51.1M | $32.5M | $32.5M | $36.8M | $39.8M | $22.3M | $15.7M | $14.2M |
| Pre-tax income | -$51.5M | -$40.9M | -$31.6M | $14.9M | -$64.6M | -$381.4M | -$221.6M | -$50.6M | -$72.7M | -$97.2M |
| Income tax | $171.0K | $198.0K | $585.0K | $546.0K | $25.0K | $2.5M | $3.9M | $2.4M | $5.0M | $26.3M |
| Net income | -$51.3M | -$41.1M | -$32.2M | $14.4M | -$64.6M | -$378.9M | -$217.8M | -$53.0M | -$67.7M | -$70.9M |
| EPS, basic | -1.25 | -1.11 | -0.97 | 0.47 | -2.13 | -12.74 | -7.43 | -2.17 | -4.55 | -5.34 |
| EPS, diluted | -1.25 | -1.11 | -0.97 | 0.45 | -2.13 | -12.74 | -7.43 | -2.17 | -4.55 | -5.34 |
| Shares, diluted (wtd. avg.) | 40.9M | 37.2M | 33.3M | 32.3M | 30.3M | 29.7M | 29.3M | 24.4M | 14.9M | 13.3M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $18.4M | $27.9M | $30.8M | $17.4M | $21.5M | $68.9M | $93.0M | $63.6M | $17.5M | $4.1M |
| Receivables | $76.0M | $81.2M | $88.4M | $105.3M | $64.0M | $41.2M | $96.9M | $154.8M | $99.6M | — |
| Inventory | $56.6M | $50.8M | $54.5M | $62.0M | $42.2M | $38.4M | $60.9M | $91.4M | $22.2M | — |
| Total current assets | $168.8M | $170.5M | $183.6M | $196.7M | $139.3M | $166.2M | $268.9M | $333.2M | $147.2M | — |
| Property, plant and equipment | $64.3M | $70.5M | $82.4M | $89.7M | $87.0M | $102.4M | $128.6M | $211.6M | $259.0M | — |
| Goodwill | — | — | — | — | — | $0 | $296.2M | $307.8M | $93.8M | $125.3M |
| Other intangibles | $68.1M | $79.2M | $90.4M | $101.9M | $116.4M | $132.5M | $149.0M | $173.5M | $41.5M | $54.1M |
| Total assets | $339.5M | $360.1M | $402.0M | $426.8M | $381.6M | $442.6M | $850.9M | $1.14B | $578.9M | — |
| Accounts payable | $43.6M | $36.1M | $33.4M | $42.2M | $28.7M | $18.1M | $35.5M | $46.1M | $29.6M | — |
| Short-term debt | $6.3M | $3.6M | $2.9M | $2.3M | $2.1M | $844.0K | $0 | $0 | $241.5M | — |
| Total current liabilities | $91.4M | $81.5M | $82.8M | $81.0M | $56.5M | $43.4M | $61.2M | $108.3M | $286.4M | — |
| Long-term debt | $341.6M | $317.3M | $320.5M | $338.0M | $332.3M | $342.7M | $392.1M | $425.0M | $0 | — |
| Total liabilities | $454.4M | $426.1M | $437.6M | $450.3M | $420.9M | $422.2M | $461.0M | $546.3M | $291.5M | — |
| Retained earnings | -$918.6M | -$867.3M | -$826.2M | -$794.0M | -$808.4M | -$743.8M | -$364.8M | -$147.1M | -$94.1M | — |
| Total equity | -$115.0M | -$66.1M | -$35.6M | -$23.5M | -$39.3M | $20.4M | $389.9M | $594.8M | $287.4M | $288.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$7.3M | $13.2M | $45.5M | $16.7M | -$40.4M | -$4.9M | $101.3M | $89.6M | $5.7M | -$3.3M |
| Depreciation and amortisation | $23.2M | $25.6M | $29.1M | $26.8M | $28.9M | $32.4M | $50.5M | $54.3M | $53.4M | $55.3M |
| Stock-based compensation | $2.2M | $2.9M | $2.2M | $2.4M | $5.4M | $9.7M | $14.1M | $13.2M | $7.6M | $5.7M |
| Capital expenditure | $15.9M | $14.8M | $24.6M | $28.6M | $15.4M | $9.4M | $65.0M | $46.6M | $45.2M | $9.1M |
| Investing cash flow | -$13.6M | -$14.2M | -$23.2M | -$25.4M | -$11.9M | -$1.8M | -$34.1M | -$389.8M | -$44.5M | -$4.2M |
| Financing cash flow | $12.9M | -$1.7M | -$8.9M | $4.8M | $5.0M | -$17.4M | -$37.9M | $346.7M | $52.3M | -$7.3M |
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 0001213900-26-048590.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $282.4M | $543.7M | $827.2M | $832.9M | $310.9M | $349.4M | $593.4M | $609.5M | $554.1M | $561.9M |
| Gross profit | $36.2M | $95.2M | $187.9M | $163.0M | $8.7M | — | — | — | — | — |
| Net income | -$70.9M | -$67.7M | -$53.0M | -$217.8M | -$378.9M | -$64.6M | $14.4M | -$32.2M | -$41.1M | -$51.3M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Officer or director change Item 5.02
- Results announced Item 2.02
- Officer or director change Item 5.02
- 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
- Regulation FD disclosure Item 7.01
- Officer or director change Item 5.02
- 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
- Material agreement terminated An agreement that mattered has ended. Often the other half of a deal that fell through. Item 1.02
- Bankruptcy or receivership The company has entered bankruptcy or had a receiver appointed. Item 1.03
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.
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