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Stock research / United States / DNOW · Oil & Gas Field Machinery & Equipment · NYSE

Dnow Inc. (DNOW)

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Dnow Inc. (DNOW) reported revenue of $1.3 billion for Q2 FY2026, the quarter ended 30 June 2026, up 108.1% on the same quarter a year earlier. Net income was -$21 million, and diluted earnings per share $-0.11. The figures are the company's own, from the 10-Q it filed with the SEC on 6 August 2026.

Revenue$1.3 billionup 108.1%
Net income-$21 million
Diluted EPS$-0.11
QuarterQ2 FY2026ended 30 June 2026

Dnow (DNOW) in brief

Dnow (DNOW) reported revenue of $2.8 billion for fiscal 2025, the year ended 31 December 2025, up 18.8% on the year before.
Read moreNet loss was $89 million and the diluted loss per share $0.76. Revenue was $2.4 billion in fiscal 2024, $2.3 billion in fiscal 2023, $2.1 billion in fiscal 2022 and $1.6 billion in fiscal 2021. Net income in the same years was $78 million, $250 million, $128 million and $5 million. Over the twelve months to 30 June 2026, Dnow reported revenue of $4.1 billion. Revenue grew 11.7% a year, compounded, over the five years to fiscal 2025. Dnow had 181 million shares outstanding at the latest filed count. At 30 June 2026 it carried $474 million of debt and $114 million of cash. At the close of 9 October 2026 the market cap of Dnow was $2.8 billion.

Ratios

From the filings

ROEn/a
ROCEn/a
Operating marginn/a
Net marginn/a
FCF margin3.3%
Interest covern/a
Debt to equity0.23
Cash conversionn/a
Share count, 1 year72.3%
Sales CAGR, 3 years9.7%
Profit CAGR, 3 yearsn/a
EPS, TTMn/a

At the close of 9 October 2026

Price$15.56
Market cap$2.8 billion
Stock P/En/a
Price to book1.35
EV / EBITDAn/a
Dividend yieldn/a
Market cap / sales0.69
52-week high$16.87
52-week low$11.12
Price, 1 year6.0%
Price CAGR, 3 years9.2%
Price CAGR, 5 years12.0%
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on long-term debt as Dnow Inc. files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.
DNOWgreeksoup.ai
Daily prices to 9 October 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on DNOW

Filings17 in twelve months: 8 current reports (8-K), about 4 results of operations; 2 officer or director change; 1 shareholder vote; 1 material agreement; 1 acquisition or disposition completed
Planned insider sales3 Form 144 notices in twelve months, $7.5 million; latest 10 August 2026
Options tapeput/call 0.13 by open interest at the 9 October 2026 close; the straddle prices a 6.3% move to 16 October 2026
13F holders7 of the followed funds hold it; largest Geode Capital Management; 8 Schedule 13D or 13G filings in twelve months
Insider trading7 sales and 0 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest7.7 million shares short, 3.56 days to cover at 30 September 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025 †Q2 FY2025 †Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue5885555636336065715996286349591,1831,307
Cost of revenue4544254344954714384614994899099901,064
Gross profit13413012913813513313812914550.0193243
Gross margin23%23%23%22%22%23%23%21%23%5%16%19%
SG&An/an/an/an/an/an/a109112n/an/a243238
Operating income37.032.028.033.023.029.029.017.033.0n/a-50.01.0
Operating margin6%6%5%5%4%5%5%3%5%n/a-4%0%
Pre-tax income37.031.029.033.022.030.029.017.032.0n/a-60.0-9.0
Tax rate5%-374%28%24%41%23%24%18%22%n/an/an/a
Net income35.014721.024.013.023.021.014.025.0n/a-44.0-21.0
Net margin6%26%4%4%2%4%4%2%4%n/a-4%-2%
Diluted EPS$0.32$1.35$0.19$0.21$0.12$0.21$0.20$0.23$0.23n/a-$0.24-$0.11
Operating cash flow4.010581.021.074.0122-16.045.043.083.0-95.0133
Capital expenditure4.02.01.03.02.03.06.04.04.07.08.09.0
Free cash flow0.010380.018.072.0119-22.041.039.076.0-103124
Buybacks5.01.01.010.07.05.08.019.00.010.050.025.0
Shares outstanding106m106m107m107m106m106m106m105m105m186m183m181m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss), 12 fiscal years and the trailing twelve months

FY2014FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023 †FY2024 †FY2025TTM
Revenue4,1053,0102,1072,6483,1272,9511,6191,6322,1362,3212,3732,8204,083
Cost of revenue3,2862,5081,7622,1472,4972,3651,3271,2751,6301,7821,8422,3423,452
Gross profit819502345501630586292357506539531478631
Gross margin20.0%16.7%16.4%18.9%20.1%19.9%18.0%21.9%23.7%23.2%22.4%17.0%15.5%
Selling, general and administrative213n/an/an/an/an/an/an/an/a395416559n/a
Operating income181-510-222-41.073.0-83.0-4209.0131144109-93.0n/a
Operating margin4.4%-16.9%-10.5%-1.5%2.3%-2.8%-25.9%0.6%6.1%6.2%4.6%-3.3%n/a
Pre-tax income178-518-230-52.058.0-93.0-43012.0139142110-100n/a
Income tax62.0-16.04.0n/a6.04.0-3.07.010.0-10931.0-12.0n/a
Effective tax rate34.8%n/an/an/a10.3%n/an/a58.3%7.2%-76.8%28.2%n/an/a
Net income116-502-234-52.052.0-97.0-4275.012825078.0-89.0n/a
Net margin2.8%-16.7%-11.1%-2.0%1.7%-3.3%-26.4%0.3%6.0%10.8%3.3%-3.2%n/a
Diluted EPS$1.06-$4.68-$2.18-$0.48$0.47-$0.89-$3.91$0.05$1.13$2.27$0.71-$0.76n/a
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by segment

FY2023FY2024FY2025Share
latest year
Upstream1,8191,6751,75762.3%
Midstream25545259020.9%
Downstream and Industrial21020428810.2%
Gas Utilities37.042.01856.6%
UpstreamMidstreamDownstream and IndustrialGas Utilities
2,321FY20232,373FY20242,820FY2025

$ million; hover a block for its figure and share

From the latest 10-K, in the company's own words.
Read moreA year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Revenue by region

FY2023FY2024FY2025Share
latest year
United States1,7491,8802,29481.3%
International29024031211.1%
Canada2822532147.6%
United StatesInternationalCanada
2,321FY20232,373FY20242,820FY2025

$ million; hover a block for its figure and share

From the latest 10-K, in the company's own words.
Read moreA year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow and capital returned

FY2014FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023 †FY2024 †FY2025TTM
Operating cash flow108324235-11573.022418930.00.0188298155164
Capital expenditure39.011.04.04.011.012.08.05.09.017.09.021.028.0
Free cash flow69.0313231-11962.021218125.0-9.0171289134136
Free cash flow margin1.7%10.4%11.0%-4.5%2.0%7.2%11.2%1.5%-0.4%7.4%12.2%4.8%3.3%
Cash from investingn/an/a-1838.0-9.0-22.022.0-96.0-87.0-48.0-304-590-635
Cash from financingn/an/a-47.094.0-37.0-138-8.0-6.0-10.0-55.0-33.0339355
Depreciation and amortisation21.038.053.050.041.041.028.023.019.026.034.052.077.0
Share-based compensation18.027.023.020.016.013.06.08.011.015.013.029.031.0
Buybacksn/an/an/an/an/an/a0.00.07.050.023.037.085.0
Diluted shares, weighted108m107m107m108m109m109m109m110m111m108m107m118m182m
Shares outstanding at period end107m107m107m108m108m109m110m111m110m106m106m186m181m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2014FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023 †FY2024 †FY2025TTM
Funded by
Shareholders' equity1,9661,4031,1831,1851,2141,1446997128421,0601,1242,2332,093
Non-controlling interestn/an/an/an/an/an/an/a1.02.03.04.05.05.0
Short-term borrowingsn/a83.044.035.0n/an/an/an/an/an/an/an/an/a
Debt0.010865.0162132n/an/an/a0.00.00.0411474
Operating lease liabilitiesn/an/an/an/an/a34.025.017.025.030.029.0129109
Finance lease liabilitiesn/an/an/an/an/a10.06.03.07.015.015.017.0n/a
Other liabilities6302383113674494032783714444214491,1291,135
Total liabilities and equity2,5961,8321,6031,7491,7951,5911,0081,1041,3201,5291,6213,9243,816
Owned
Fixed assets12416514311910612098.0111119131157264257
Goodwill3462053113283142450.067.0116139230617700
Intangible assets73.016118416614490.00.09.025.028.065.0565556
Cash and equivalents19590.010698.0116183387313212299256164114
Receivables851485354423482370198304398384388874889
Inventory9496934835906024652622503813663521,1921,062
Other assets58.033.022.025.031.011863.050.069.0182173248238
Total assets2,5961,8321,6031,7491,7951,5911,0081,1041,3201,5291,6213,9243,816
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded-0.6%11.7%9.7%69.8%
Profit growth, compoundedn/an/an/an/a
Return on equity, average-4.7%8.5%8.8%-4.0%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was Dnow's revenue in fiscal 2025?

Dnow (DNOW) reported revenue of $2.8 billion for fiscal 2025, the year ended 31 December 2025, up 18.8% on the year before.

How much did Dnow earn in fiscal 2025?

Net loss was $89 million for fiscal 2025, and the diluted loss per share $0.76.

What is Dnow's market cap?

The market cap of Dnow was $2.8 billion at the close of 9 October 2026.

How much debt does Dnow have?

At 30 June 2026 Dnow carried $474 million of debt and $114 million of cash.

Peers: Machinery

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Baker Hughes Co. BKR$56.3 billion18.2915.6%n/a0.4%0.82n/a
TechnipFMC plc FTI$27.3 billion24.1535.9%16.0%9.9%0.120.3%
NOV Inc. NOV$6.8 billion72.941.5%5.1%-1.7%0.272.7%
Solaris Energy Infrastructure, Inc. SEI$6.0 billion95.536.1%24.3%70.5%1.780.6%
Weatherford International plc WFRD$5.6 billion15.3720.5%12.7%-7.2%0.811.3%
Cactus, Inc. WHD$4.5 billion54.2313.2%18.6%21.8%0.000.9%
Veeco Instruments Inc. VECO$3.2 billion145.422.6%2.7%-2.5%0.25n/a
Kadant Inc. KAI$3.1 billion28.0110.7%15.0%12.5%0.500.5%
Dnow Inc. DNOW$2.8 billionn/an/an/a69.8%0.23n/a
Kennametal Inc. KMT$2.4 billion7.2521.8%20.1%19.8%0.442.5%
Hayward Holdings, Inc. HAYW$2.4 billion15.3210.1%21.1%7.8%0.590.0%
Innovex International, Inc. INVX$1.9 billion31.535.8%10.0%15.0%0.02n/a
All 60 in Machinery
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
ASML Holding N.V. ASML *$686.2 billion64.0049.0%34.6%15.6%0.22n/a
Lam Research Corp. LRCX$398.9 billion55.3558.3%35.3%26.0%0.300.3%
Caterpillar Inc. CAT$367.9 billion34.4555.9%17.5%18.4%1.440.7%
Deere & Co. DE$167.4 billion34.4917.4%13.4%8.0%2.281.0%
Eaton Corp. plc ETN$166.9 billion43.7118.9%n/a15.5%0.911.0%
Johnson Controls International plc JCI$96.0 billion27.3826.5%n/a6.8%0.621.0%
Illinois Tool Works Inc. ITW$75.2 billion23.94110.3%26.5%4.3%3.352.4%
Cummins Inc. CMI$72.0 billion26.7421.1%11.2%2.9%0.521.5%
Baker Hughes Co. BKR$56.3 billion18.2915.6%n/a0.4%0.82n/a
Carrier Global Corp. CARR$46.1 billion38.329.1%7.8%-1.6%0.771.2%
Ingersoll Rand Inc. IR$30.6 billion32.409.4%18.1%7.8%0.40n/a
TechnipFMC plc FTI$27.3 billion24.1535.9%16.0%9.9%0.120.3%
nVent Electric plc NVT$27.1 billion45.7515.0%17.1%46.2%0.370.5%
Dover Corp. DOV$25.4 billion22.7414.7%16.9%7.6%0.421.1%
Xylem Inc. XYL$24.0 billion24.459.8%14.5%4.5%0.281.6%
Curtiss Wright Corp. CW$18.9 billion35.3019.5%18.8%10.5%0.350.2%
Zebra Technologies Corp. ZBRA$18.3 billion35.4315.7%14.7%12.7%0.81n/a
Nordson Corp. NDSN$18.3 billion33.1717.0%26.9%7.0%0.531.0%
ITT Inc. ITT$18.0 billion39.488.8%14.4%28.1%0.620.7%
Idex Corp. IEX$17.3 billion33.7013.0%20.7%7.3%0.471.2%
RBC Bearings Inc. RBC$16.5 billion49.799.3%23.6%17.3%0.230.0%
Lincoln Electric Holdings Inc. LECO$14.2 billion26.1035.6%17.1%9.3%0.741.2%
CNH Industrial N.V. CNH$14.1 billion45.604.0%n/a0.6%3.332.2%
BWX Technologies, Inc. BWXT$13.2 billion37.2626.6%12.1%22.7%1.510.7%
Graco Inc. GGG$12.7 billion24.5921.1%28.1%4.6%0.011.4%
Lennox International Inc. LII$12.4 billion16.1160.8%19.7%-2.1%0.891.4%
Moog Inc. MOG.A$11.6 billion30.8717.0%13.3%15.6%0.410.3%
Regal Rexnord Corp. RRX$11.0 billion34.024.7%11.7%3.5%0.660.8%
Donaldson Co. Inc. DCI$10.1 billion22.5925.7%15.4%5.3%0.731.4%
Flowserve Corp. FLS$9.2 billion25.3416.4%8.5%-0.3%0.941.2%
Toro Co. TTC$9.1 billion25.6127.2%10.3%5.2%0.721.6%
SPX Technologies, Inc. SPXC$8.5 billion30.4811.9%16.2%20.6%0.260.4%
Pentair plc PNR$8.5 billion13.1817.4%20.3%-2.1%0.431.9%
Timken Co. TKR$8.1 billion31.498.1%10.5%5.5%0.641.2%
Zurn Elkay Water Solutions Corp. ZWS$7.7 billion28.7416.6%20.8%10.7%0.300.8%
Agco Corp. AGCO$7.2 billion14.3013.1%5.8%1.7%0.651.1%
Aaon, Inc. AAON$7.1 billion44.8415.8%11.0%53.5%0.430.5%
NOV Inc. NOV$6.8 billion72.941.5%5.1%-1.7%0.272.7%
Gates Industrial Corp. Ltd. GTES$6.8 billion18.9210.3%13.3%3.3%0.63n/a
Solaris Energy Infrastructure, Inc. SEI$6.0 billion95.536.1%24.3%70.5%1.780.6%
Weatherford International plc WFRD$5.6 billion15.3720.5%12.7%-7.2%0.811.3%
JBT Marel Corp. JBTM$5.6 billion29.194.3%7.3%44.9%0.380.4%
ACM Research, Inc. ACMR$5.1 billion33.998.1%13.3%27.3%0.13n/a
Middleby Corp. MIDD$4.8 billionn/a-21.3%16.5%8.4%0.88n/a
Cactus, Inc. WHD$4.5 billion54.2313.2%18.6%21.8%0.000.9%
Esab Corp. ESAB$4.2 billion23.976.8%12.1%9.7%0.940.6%
Brunswick Corp. BC$4.0 billionn/a-5.1%-0.4%10.5%1.252.8%
Standex International Corp. SXI$3.4 billion32.9613.9%21.7%12.8%0.690.5%
Veeco Instruments Inc. VECO$3.2 billion145.422.6%2.7%-2.5%0.25n/a
Kadant Inc. KAI$3.1 billion28.0110.7%15.0%12.5%0.500.5%
Dnow Inc. DNOW$2.8 billionn/an/an/a69.8%0.23n/a
Kennametal Inc. KMT$2.4 billion7.2521.8%20.1%19.8%0.442.5%
Hayward Holdings, Inc. HAYW$2.4 billion15.3210.1%21.1%7.8%0.590.0%
Innovex International, Inc. INVX$1.9 billion31.535.8%10.0%15.0%0.02n/a
Alamo Group Inc. ALG$1.8 billion18.298.5%8.9%4.1%0.220.8%
Enerpac Tool Group Corp. EPAC$1.8 billion19.7522.0%21.2%4.3%0.440.1%
Azenta, Inc. AZTA$1.7 billionn/a-8.1%-28.6%4.8%0.000.3%
Lindsay Corp. LNN$1.1 billion21.5511.1%9.9%-7.4%0.231.3%
Tennant Co. TNC$1.1 billion63.473.4%3.2%-2.9%0.671.8%
Astec Industries Inc. ASTE$890 million45.532.8%3.4%18.7%0.531.3%
7 companies share its SEC industry code (Oil & Gas Field Machinery & Equipment); the rest are the names nearest in size in its wider industry, Machinery, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Filings

FilingPeriodFiledWhere
10-Q30 June 20266 August 2026EDGAR
10-Q31 March 20267 May 2026EDGAR
10-K31 December 202526 February 2026EDGAR
10-Q30 September 20255 November 2025EDGAR
10-Q30 June 20256 August 2025EDGAR
10-Q31 March 20257 May 2025EDGAR
10-K/A31 December 202418 February 2025EDGAR
10-K31 December 202418 February 2025EDGAR
10-Q30 September 20247 November 2024EDGAR
10-Q30 June 20247 August 2024EDGAR

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