greeksoup/ stock research
Stock research / United States / NOV / Q4 FY2023

NOV (NOV) Q4 FY2023 earnings: revenue $2.3 billion, up 13.0% on the year

NOV Inc. (NOV) reported revenue of $2.3 billion for Q4 FY2023, the quarter ended 31 December 2023, up 13.0% on the same quarter a year earlier. Net income was $598 million, up 475.0% on the year, and diluted earnings per share $1.51. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2024.

Revenue$2.3 billionup 13.0%
Net income$598 millionup 475.0%
Diluted EPS$1.51
QuarterQ4 FY2023ended 31 December 2023

The quarter, against the one before and a year earlier

LineQ4 FY2023Q3 FY2023A year earlierChange on the year
Revenue2,3432,185n/an/a
Cost of revenue1,8461,717n/an/a
Gross profit497468n/an/a
Gross margin21.2%21.4%n/a
Selling, general and administrative336285n/an/a
Operating income161183n/an/a
Operating margin6.9%8.4%n/a
Interest expense23.023.0n/an/a
Pre-tax income135156n/an/a
Income tax-46048.0n/an/a
Effective tax rate-340.7%30.8%n/a
Net income598114n/an/a
Net margin25.5%5.2%n/a
Diluted EPS$1.51$0.29n/an/a
$ million except per share.
Read moreFourth quarters are the year less the first three quarters. 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. 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 and capital returned

LineQ4 FY2023Q3 FY2023A year earlierChange on the year
Operating cash flow37740.0n/an/a
Capital expenditure76.074.0n/an/a
Free cash flow301-34.0n/an/a
Free cash flow margin12.8%-1.6%n/a
Cash from investing-82.0-83.0n/an/a
Cash from financing3.0-33.0n/an/a
Depreciation and amortisation77.077.0n/an/a
Share-based compensation17.017.0n/an/a
Dividends paid19.020.0n/an/a
Dividend per sharen/a$0.05n/an/a
Diluted shares, weighted397m396mn/an/a
Shares outstanding at period end394m394mn/an/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

LineQ4 FY2023Q3 FY2023A year earlierChange on the year
Shareholders' equity6,1685,521n/an/a
Non-controlling interest74.046.0n/an/a
Debt1,7251,729n/an/a
Operating lease liabilities343342n/an/a
Finance lease liabilities215217n/an/a
Other liabilities2,7692,643n/an/a
Total liabilities and equity11,29410,498n/an/a
Fixed assets1,8651,843n/an/a
Goodwill1,5621,556n/an/a
Intangible assets450n/an/an/a
Cash and equivalents816513n/an/a
Receivables1,9051,982n/an/a
Inventory2,1512,277n/an/a
Other assets2,5452,327n/an/a
Total assets11,29410,498n/an/a

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue2,1852,3432,1552,2162,1912,3082,1032,1882,1762,2772,0522,134
Cost of revenue1,7171,8461,6971,6261,7221,8151,6561,7421,7641,8151,6731,613
Gross profit468497458590469493447446412462379521
Gross margin21%21%21%27%21%21%21%20%19%20%18%24%
SG&A285336296277275286295303305300332328
Operating income18316116231319420715214310792.047.0193
Operating margin8%7%8%14%9%9%7%7%5%4%2%9%
Interest expense23.023.024.022.021.024.022.022.022.022.022.021.0
Pre-tax income15613516529317419912111573.066.035.0157
Tax rate31%-341%27%24%25%19%39%1%40%223%43%26%
Net income11459811922613016073.010842.0-78.019.0112
Net margin5%26%6%10%6%7%3%5%2%-3%1%5%
Diluted EPS$0.29$1.51$0.30$0.57$0.33$0.41$0.19$0.29$0.11-$0.21$0.05$0.31
Operating cash flow40.0377-78.0432359591135191352573-26.017.0
Capital expenditure74.076.069.082.082.011884.083.010710165.081.0
Free cash flow-34.0301-14735027747351.0108245472-91.0-64.0
Buybacksn/an/an/an/a80.0n/a81.069.080.085.067.063.0
Dividends paid20.019.020.030.029.029.028.010728.027.033.064.0
Shares outstanding394m394m396m394m389m382m378m373m367m361m360m357m
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. 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.

Source

10-K for the period ended 31 December 2023, filed 14 February 2024, accession 0000950170-24-015145: the filing on EDGAR. All of NOV Inc.'s filings: EDGAR company page.

The same record on your computer

GreekSoup is also a free program for your own computer. It reads these same filings for the names you follow, refreshed as they land, with no account. One pasted line installs it.

Install