OverviewSuggest Edit

NOV (formerly known as National Oilwell Varco) is a company specializing in the design, manufacture, and sale of equipment and components used in oil and gas drilling and production operations, and the provision of oilfield services to the oil and gas industry. It operates through three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies. Wellbore Technologies provides the oil and gas industry with drill bits, borehole enlargement services, directional drilling tools, and optimization/automation software and services. Completion & Production Solutions produces a variety of intervention and stimulation equipment for pressure pumping, coiled tubing, and wireline operations as well as composite piping systems, pressure vessels, subsea and floating production systems, and other solutions. Rig Technologies engineers and manufactures drilling rigs, advanced drilling equipment packages, and the related capital equipment necessary to drill oil and gas wells, as well as marine construction equipment such as heavy-lift cranes, mooring machinery, jacking systems, pipelay and cablelay systems, and marine riser tensioners.

TypePublic
Founded1862
HQHouston, TX, US
Websitenov.com
Employee Ratings3.5
Overall CultureD-

Latest Updates

Employees (est.) (Dec 2020)27,631(-18%)
Job Openings536
Revenue (FY, 2020)$6.1 B(-28%)
Share Price (Sept 2021)$12.9(+5%)
Cybersecurity ratingCMore

Key People/Management at NOV

Clay C. Williams

Clay C. Williams

President, Chairman, and Chief Executive Officer
David Reid

David Reid

Chief Technology Officer and Chief Marketing Officer
Joe Rovig

Joe Rovig

President, Rig Technologies
Isaac Joseph

Isaac Joseph

President, NOV Wellbore Technologies
Kirk Shelton

Kirk Shelton

President, Completion & Production Solutions
Alex Philips

Alex Philips

Chief Information Officer
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NOV Office Locations

NOV has offices in Houston, Bakersfield, Casper, Galena Park and in 62 other locations
Houston, TX, US (HQ)
National Oilwell Varco, 7909 Parkwood Cir Dr
Bakersfield, CA, US
3100 Steam Ct
Casper, WY, US
3273 N Poplar St
Galena Park, TX, US
210 Magnolia Dr
Houston, TX, US
11931 Farm to Market Rd 529
Houston, TX, US
12000 W Little York Rd
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NOV Financials and Metrics

NOV Revenue

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NOV's revenue was reported to be $6.09 b in FY, 2020 which is a 28.2% decrease from the previous period.
USD

Revenue (Q2, 2021)

1.4b

Gross profit (Q2, 2021)

231.0m

Gross profit margin (Q2, 2021), %

16.3%

Net income (Q2, 2021)

(23.0m)

EBIT (Q2, 2021)

12.0m

Market capitalization (23-Sept-2021)

4.8b

Closing stock price (23-Sept-2021)

12.9

Cash (30-Jun-2021)

1.6b

EV

5.0b
NOV's current market capitalization is $4.8 b.
Annual
USDFY, 2018FY, 2019FY, 2020

Revenue

8.5b8.5b6.1b

Revenue growth, %

16%0%(28%)

Cost of goods sold

7.0b7.6b5.7b

Gross profit

1.4b845.0m434.0m
Quarterly
USDQ1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020Q2, 2021

Revenue

1.9b2.1b2.1b1.9b1.5b1.4b1.4b

Cost of goods sold

1.7b2.1b2.0b1.7b1.4b1.2b1.2b

Gross profit

256.0m62.0m151.0m224.0m137.0m139.0m231.0m

Gross profit Margin, %

13%3%7%12%9%10%16%
Annual
USDFY, 2018FY, 2019FY, 2020

Cash

1.4b1.2b1.7b

Accounts Receivable

2.1b1.9b1.3b

Prepaid Expenses

200.0m247.0m224.0m

Inventories

3.0b2.2b1.4b
Quarterly
USDQ1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020Q2, 2021

Cash

1.3b1.1b1.3b1.1b1.4b1.5b1.6b

Accounts Receivable

1.8b2.0b1.8b1.9b1.5b1.4b1.3b

Prepaid Expenses

205.0m229.0m251.0m237.0m204.0m209.0m222.0m

Inventories

3.1b2.9b2.5b2.0b1.9b1.7b1.3b
Annual
USDFY, 2018FY, 2019FY, 2020

Net Income

(22.0m)(6.1b)(2.5b)

Depreciation and Amortization

690.0m533.0m352.0m

Inventories

(7.0m)104.0m429.0m

Accounts Payable

196.0m(19.0m)(226.0m)
Quarterly
USDQ1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020Q2, 2021

Net Income

(75.0m)(5.5b)(5.7b)(2.0b)(2.1b)(2.2b)(141.0m)

Depreciation and Amortization

177.0m331.0m433.0m105.0m187.0m270.0m156.0m

Inventories

(152.0m)(193.0m)(169.0m)47.0m123.0m288.0m64.0m

Accounts Payable

(49.0m)(33.0m)(20.0m)(54.0m)(160.0m)(240.0m)37.0m
USDFY, 2018

EV/EBIT

52.8 x

EV/CFO

21.4 x

Revenue/Employee

247.0k

Debt/Equity

0.2 x

Debt/Assets

0.1 x

Financial Leverage

1.4 x

P/E Ratio

(321.3)
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NOV Operating Metrics

NOV's Backlog was reported to be $3.4b in FY, 2020.
FY, 2017FY, 2018FY, 2019FY, 2020

Countries Covered

65656361

Backlog

$2.7 b$4 b$4.3 b$3.4 b

Backlog (Completion & Production Solutions)

$800 m$900 m$1.3 b$700 m

Backlog (Rig Technologies)

$1.9 b$3.1 b$3 b$2.7 b
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NOV Acquisitions / Subsidiaries

Company NameDateDeal Size
Fjords Processing ASDecember 20, 2016
FibersparOctober 10, 2012
Enerflow IndustriesMay 25, 2012
NKT Flexibles I/SApril 01, 2012
Wilson InternationalMarch 31, 2012
STSAJuly 20, 2011
Ameron InternationalJuly 05, 2011$772 m
Advanced Production and LoadingSeptember 30, 2010
South Seas InspectionNovember 01, 2009
Ackerman Holdings C.V.
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NOV Revenue Breakdown

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NOV revenue breakdown by business segment: 39.1% from Completion & Production Solutions, 30.9% from Rig Technologies and 30.0% from Wellbore Technologies

NOV revenue breakdown by geographic segment: 5.6% from Saudi Arabia, 7.6% from Norway, 37.0% from Other Countries, 26.8% from United States and 23.0% from Other

Human Capital Metrics

Source: www.nov.com
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NOV Cybersecurity Score

Cybersecurity ratingPremium dataset

C

79/100

SecurityScorecard logo

NOV Online and Social Media Presence

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NOV Company Culture

  • Overall Culture

    D-

    52/100

  • CEO Rating

    D

    58/100

  • Compensation

    F

    37/100

  • Diversity

    C

    64/100

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NOV News and Updates

NOV announces contract award by BW Offshore for STP system in Barossa field

Located approximately 186 m (300 km) northwest of Darwin in the Timor Sea, the Barossa field features water depths ranging between 720 and 920 ft (220 and 280 m). The Barossa development consists of infield subsea infrastructure tied back to the centrally located floating production storage and offl…

NOV announces first quarter 2021 earnings results

NOV reported first quarter 2021 revenues of $1.25 billion, a decrease of six percent compared to the fourth quarter of 2020 and a decrease of 34 percent compared to the first quarter of 2020. Net loss for the first quarter of 2021 was $115 million, or 9.2 percent of sales, which included non-cash, p…

Heavy Lift Cranes Position NOV as Key Player in the Offshore Wind Market

As the offshore wind market moves toward the installation of larger, next-generation wind turbines with capacity ratings exceeding 14 MW, vessels will require improved crane lifting capacity to install, operate, and maintain offshore wind turbines.

NOV to supply Cadeler A/S with O-Class replacement crane

The offshore wind market is moving towards installation of larger next-generation wind turbines with capacity ratings exceeding 14 MW. This requires vessels to have improved crane lifting capacity to install, operate, and maintain offshore wind turbines.

NOV Reports First Quarter 2021 Results

NOV Inc. (NYSE: NOV) today reported first quarter 2021 revenues of $1.25 billion, a decrease of six percent compared to the fourth quarter of 2020 and a decrease of 34 percent compared to the first quarter of 2020. Net loss for the first quarter of 2021 was $115 million, or 9.2 percent of sales, whi…

Fiber Glass Systems Plymouth facility achieves ASME BPVC.X certification to manufacture GRE pressure vessels

NOV recently launched an initiative to introduce a range of high-pressure fiber-reinforced epoxy vessels measuring up to 60 in. (1.5 m) in diameter to Fiber Glass System’s (FGS) product offerings.
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NOV Blogs

Q2 2021 NOV Inc. Earnings Conference Call

Q2 2021 NOV Inc. Earnings Conference Call James.Jordan@n… Wed, 05/26/2021 - 08:40 Q2 2021 NOV Inc. Earnings Conference Call Display "add to calendar" true Event Type Earnings Conference Call Click here for webcast …

NOV Announces Second Quarter 2021 Earnings Conference Call

NOV Announces Second Quarter 2021 Earnings Conference Call Content Import Tue, 05/25/2021 - 18:00 NOV Announces Second Quarter 2021 Earnings Conference Call May 25, 2021 at 6:00 PM EDT This release is a backfill from a News Wire General …

NOV Reports First Quarter 2021 Results

HOUSTON --(BUSINESS WIRE)--Apr. 27, 2021-- NOV Inc. (NYSE: NOV) today reported first quarter 2021 revenues of $1.25 billion , a decrease of six percent compared to the fourth quarter of 2020 and a decrease of 34 percent compared to the first quarter of 2020.

NOV Provides Operational Update for the First Quarter 2021

HOUSTON --(BUSINESS WIRE)--Mar. 16, 2021-- NOV Inc. (NYSE: NOV) announced today that it expects operational disruptions and softer-than-anticipated customer orders will cause first quarter 2021 operating results to fall below prior guidance. “Unfortunately, the extreme winter weather across Texas

NOV Inc. Announces Full Redemption of Its Outstanding 2.60% Senior Notes Due 2022

HOUSTON --(BUSINESS WIRE)--Mar. 10, 2021-- NOV Inc. (NYSE: NOV) (the “Company”) today announced that it intends to redeem in full all $182.7 million in aggregate principal amount of its outstanding 2.60% senior notes due December 2022 (CUSIP No. 637071AJ0) (the “Notes”).

CORRECTING and REPLACING NOV Inc. Announces Full Redemption of Its Outstanding 2.60% Senior Notes Due 2022

HOUSTON --(BUSINESS WIRE)--Mar. 10, 2021-- Headline and release summary of release should read: NOV Inc. Announces Full Redemption of Its Outstanding 2.60% Senior Notes Due 2022 (instead of: NOV Inc. Announces Full Redemption of Its Outstanding 2.60% Senior Notes Due 2026).
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NOV Frequently Asked Questions

  • When was NOV founded?

    NOV was founded in 1862.

  • Who are NOV key executives?

    NOV's key executives are Clay C. Williams, David Reid and Joe Rovig.

  • How many employees does NOV have?

    NOV has 27,631 employees.

  • What is NOV revenue?

    Latest NOV annual revenue is $6.1 b.

  • What is NOV revenue per employee?

    Latest NOV revenue per employee is $220.4 k.

  • Who are NOV competitors?

    Competitors of NOV include Forum Energy Technologies, TechnipFMC and Nabors.

  • Where is NOV headquarters?

    NOV headquarters is located at National Oilwell Varco, 7909 Parkwood Cir Dr, Houston.

  • Where are NOV offices?

    NOV has offices in Houston, Bakersfield, Casper, Galena Park and in 62 other locations.

  • How many offices does NOV have?

    NOV has 71 offices.