--- title: "National Energy Services Metrics Guide" description: "National Energy Services Reunited Corp revenue, margins, cash flow and balance sheet figures by fiscal year, taken from its SEC filings, with ratios explained." canonical: https://www.getswoopr.com/stocks/companies/national-energy-services-reunited-corp/financial-metrics/ source: "Swoopr Investment: https://www.getswoopr.com" --- # National Energy Services Reunited Corp Financial Metrics Guide ## Direct Answer > National Energy Services Reunited Corp reported revenue of $1.3 billion for the fiscal year ended December 31, 2025, with an operating margin of 7.4% and net income of $51 million, according to its SEC filings. Revenue grew 1.7% from the prior year. ## What Are National Energy Services Reunited Corp's Key Financial Figures? | Fiscal year | FY2025ended December 31, 2025 | FY2024ended December 31, 2024 | FY2023ended December 31, 2023 | FY2022ended December 31, 2022 | | --- | --- | --- | --- | --- | | Revenue | $1.3 billion | $1.3 billion | $1.1 billion | $910 million | | Operating income | $98 million | $138 million | $81 million | -$917,000 | | Operating margin | 7.4% | 10.6% | 7.0% | -0.1% | | Net income | $51 million | $76 million | $13 million | -$36 million | | Net margin | 3.9% | 5.9% | 1.1% | -4.0% | | Operating cash flow | $264 million | $229 million | $177 million | $93 million | | Capital expenditures | $143 million | $105 million | $68 million | $122 million | | Free cash flow | $121 million | $124 million | $109 million | -$30 million | Operating margin narrowed by 3.2 percentage points between fiscal 2024 and 2025, which separates pricing and cost discipline from revenue growth alone. Free cash flow (operating cash flow minus capital expenditures) was $121 million against net income of $51 million; cash generation covered reported earnings. ![Bar chart of National Energy Services Reunited Corp revenue, operating income, net income for fiscal 2022 to 2025. In fiscal 2025, revenue was $1.3 billion, operating income $98 million and net income $51 million.](https://www.getswoopr.com/images/charts/national-energy-services-reunited-corp-metrics-revenue-profit.webp) *National Energy Services Reunited Corp revenue, operating income and net income by fiscal year, from the figures in the table above. Select the chart to open it full size.* ![Line chart of National Energy Services Reunited Corp operating margin and net margin for fiscal 2022 to 2025. In fiscal 2025, operating margin was 7.4% and net margin was 3.9%.](https://www.getswoopr.com/images/charts/national-energy-services-reunited-corp-metrics-margins.webp) *National Energy Services Reunited Corp operating margin and net margin by fiscal year: operating income and net income as a share of revenue. Select the chart to open it full size.* ![Bar chart of National Energy Services Reunited Corp operating cash flow, capital expenditures, free cash flow for fiscal 2022 to 2025. In fiscal 2025, operating cash flow was $264 million, capital expenditures was $143 million, free cash flow was $121 million.](https://www.getswoopr.com/images/charts/national-energy-services-reunited-corp-metrics-cash-flow.webp) *National Energy Services Reunited Corp operating cash flow, capital expenditures and free cash flow by fiscal year. Select the chart to open it full size.* ## What Does National Energy Services Reunited Corp's Balance Sheet Show? | Cash and cash equivalents | $125 million | | --- | --- | | Long-term debt | $191 million | | Total assets | $1.9 billion | | Total liabilities | $884 million | | Shareholders' equity | $968 million | | Current ratio | 1.0x | Balance sheet values are as of the end of fiscal 2025. Income statement figures describe a whole year; balance sheet figures describe a single day, so the two answer different questions. ## Where These Numbers Come From Every figure on this page is a value National Energy Services Reunited Corp reported in its own SEC filings, read from the SEC's XBRL data (accession 0001493152-26-009139 for fiscal year 2025). Ratios are computed from those reported values. Figures were retrieved on October 12, 2026; a later amendment or a new annual report can change them, and the filing itself always takes precedence over this summary. Each fiscal year is labeled by the calendar year in which it ended, so a company that names the same period differently in its own filings (many retailers whose year ends in January) may use another label. A year is left out of the table when the SEC data set holds no value for it. A figure shown as "Not reported" means the company did not file a value under the standard tag Swoopr reads, not that the amount was zero. This page is educational and describes reported history only; it is not a forecast or a recommendation. ## Frequently Asked Questions ### What was National Energy Services Reunited Corp's revenue in fiscal 2025? National Energy Services Reunited Corp reported revenue of $1.3 billion for the fiscal year ended December 31, 2025, according to its SEC filings. ### What is National Energy Services Reunited Corp's operating margin? National Energy Services Reunited Corp's operating margin was 7.4% in fiscal 2025: operating income of $98 million on revenue of $1.3 billion. ### How much free cash flow did National Energy Services Reunited Corp generate? Operating cash flow of $264 million less capital expenditures of $143 million gives free cash flow of $121 million for fiscal 2025. ## References - [SEC EDGAR: National Energy Services Reunited Corp. Form 10-K filed March 6, 2026](https://www.sec.gov/Archives/edgar/data/1698514/000149315226009139/form10-k.htm) - [SEC EDGAR: National Energy Services Reunited Corp. annual and quarterly filings](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1698514&type=10-K) - [SEC: EDGAR application programming interfaces (XBRL frames and submissions data)](https://www.sec.gov/search-filings/edgar-application-programming-interfaces) ## Related Pages - [National Energy Services Reunited Corp company dossier](https://www.getswoopr.com/stocks/companies/national-energy-services-reunited-corp/) - [National Energy Services Reunited Corp financial metrics](https://www.getswoopr.com/stocks/companies/national-energy-services-reunited-corp/financial-metrics/) - [National Energy Services Reunited Corp financial risk indicators](https://www.getswoopr.com/stocks/companies/national-energy-services-reunited-corp/risks-monitoring/) - [National Energy Services Reunited Corp business model and revenue mix](https://www.getswoopr.com/stocks/companies/national-energy-services-reunited-corp/business-model/) - [Fundamental analysis guides](https://www.getswoopr.com/learn/fundamental-analysis/) [Swoopr Editorial Team](https://www.getswoopr.com/authors/swoopr-editorial-team/) Swoopr's editorial team produces independent investment education content. 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