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National Energy Services Reunited (NESR) FY2023 results: revenue $1.1 billion

National Energy Services Reunited Corp. (NESR) reported revenue of $1.1 billion for fiscal 2023, the year ended 31 December 2023. Net income was $13 million, and diluted earnings per share $0.13. The figures are the company's own, from the 10-K it filed with the SEC on 6 March 2026.

Revenue
$1.1 billion
FY2023FY2023
Operating margin
7.0%
FY2023FY2023
Net income
$13 million
FY2023FY2023
Diluted EPS
$0.13
FY2023FY2023

this yearthe year beforeHover a bar for its figure.

The year in brief

Income statement (profit and loss)

$ millionFY2023Last 8 years
Revenue1,146
Cost of revenue997
Gross profit149
Gross margin13.0%
Selling, general and administrative49.2
Operating income80.7
Operating margin7.0%
Interest expense45.8
Pre-tax income29.8
Income tax17.3
Effective tax rate57.9%
Net income12.6
Net margin1.1%
Diluted EPS$0.13
$ million except per share.
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.

Cash flow

$ millionFY2023Last 8 years
Operating cash flow177
Capital expenditure68.2
Free cash flow109
Free cash flow margin9.5%
Cash from investing-83.5
Cash from financing-105
Depreciation and amortisation142
Share-based compensation6.8
Diluted shares, weighted95m

Balance sheet

$ millionFY2023Last 8 years
Shareholders' equity821
Cash and equivalents67.8
Receivables171

10-K for the year ended 31 December 2023, filed 6 March 2026: the filing.