NESR
EnergyNational Energy Services Reunited Corp. · Oil & Gas Equipment & Services · $3B
What is National Energy Services Reunited Corp.?
National Energy Services Reunited Corp. (NESR) is a regional oilfield services provider focused on the Middle East, North Africa, and Asia Pacific markets. Founded in 2017 and headquartered in Houston, it serves upstream oil and gas operators across two core business segments.
NESR generates revenue by delivering specialized oilfield services to oil and gas companies across two segments: Production Services and Drilling and Evaluation Services. The Production Services arm covers hydraulic fracturing, cementing, coiled tubing, and artificial lift, among others. The Drilling and Evaluation segment provides drilling rigs, directional drilling, wireline logging, and fluid systems — helping operators drill and assess wells more efficiently in its target regions.
NESR was founded in 2017 and is headquartered in Houston, US.
- Hydraulic fracturing and stimulation services
- Cementing and coiled tubing services
- Drilling rigs and directional drilling
- Wireline logging and evaluation services
Is NESR a Good Stock to Buy?
UQS Score rates NESR as Below Average overall.
The Growth pillar stands out as a relative bright spot, reflecting expansion potential in NESR's core MENA and Asia Pacific markets. The Valuation pillar also registers as Good, suggesting the stock is not obviously expensive relative to what the business currently delivers.
Both the Quality and Moat pillars score Weak, pointing to limited competitive differentiation and below-average business fundamentals — factors that weigh on the overall composite rating.
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Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does NESR pay dividends?
No — National Energy Services Reunited Corp. does not currently pay a dividend.
NESR does not currently pay a dividend. As a growth-oriented oilfield services company operating in capital-intensive emerging markets, the business prioritizes reinvesting available resources into expanding its service capabilities and regional footprint rather than returning cash to shareholders through distributions.
When does NESR report earnings?
National Energy Services Reunited Corp. reports earnings on a quarterly cadence, typical for US-listed equities.
NESR's results tend to reflect activity levels across its MENA and Asia Pacific client base, which can be influenced by regional oil prices and operator spending cycles. Investors should monitor both segment-level revenue trends and any commentary on contract pipelines.
For the most recent quarter's results, see National Energy Services Reunited Corp.'s investor relations page.
NESR Price History
+86.0% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in National Energy Services Reunited Corp.?
Based on National Energy Services Reunited Corp.'s historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
NESR Long-term Outlook
NESR's Growth pillar rating of Good points to meaningful expansion potential, driven by sustained upstream spending in the Middle East and Asia Pacific. However, the Weak Quality and Moat ratings introduce uncertainty around whether that growth translates into durable profitability. The Neutral Risk profile suggests the business is not in acute distress, but execution in competitive, capital-intensive markets remains a key variable.
Growth drivers
- Rising upstream capital expenditure across MENA oil producers
- Expanding service line breadth in production and drilling evaluation
- Regional market positioning in underpenetrated Asia Pacific basins
Key risks
- Weak competitive moat leaves NESR exposed to pricing pressure from larger global oilfield service firms
- Below-average quality metrics may limit margin resilience during activity downturns
- Geopolitical and regulatory variability across MENA and Asia Pacific operating environments
NESR vs Peers
NESR operates in a competitive oilfield services landscape alongside several regional and international peers.
Flowco focuses on production optimization and artificial lift solutions, competing with NESR's production services segment in select markets.
Enerflex provides natural gas compression and processing infrastructure, giving it a different revenue mix compared to NESR's drilling and production service focus.
TerraVest is a Canadian industrial manufacturer serving energy markets, with a business model oriented more toward equipment supply than field services.
Frequently Asked Questions
What does National Energy Services Reunited Corp. do?
NESR provides oilfield services to oil and gas companies across the Middle East, North Africa, and Asia Pacific. Its two segments cover Production Services — including hydraulic fracturing and cementing — and Drilling and Evaluation Services, which includes drilling rigs, directional drilling, and wireline logging.
Does NESR pay dividends?
No, NESR does not currently pay a dividend. The company reinvests available capital into growing its service capabilities and expanding its regional presence rather than distributing cash to shareholders.
When does NESR report earnings?
NESR reports on a quarterly cadence, consistent with standard US-listed company practice. For the exact schedule and most recent results, visit the company's official investor relations page.
Is NESR a good stock to buy?
UQS Score rates NESR as Below Average overall. While the Growth and Valuation pillars show relative strength, the Weak Quality and Moat ratings indicate meaningful fundamental concerns. The complete pillar breakdown is available to UQS Pro members.
Is NESR overvalued?
The UQS Valuation pillar for NESR is rated Good, suggesting the stock does not appear expensive relative to its current fundamentals. However, valuation should always be considered alongside quality and risk factors — both of which score Weak for NESR.
How does NESR compare to its competitors?
NESR differentiates itself through its regional focus on MENA and Asia Pacific markets, whereas peers like Enerflex and Flowco operate with different service mixes or geographic emphases. The UQS platform provides side-by-side pillar comparisons for Pro members.
What is NESR's market cap bracket?
NESR is classified as a mid-cap company. This places it in a range that typically offers more liquidity than small-cap peers but less institutional coverage than large-cap oilfield services firms.
Who founded National Energy Services Reunited Corp.?
NESR was founded in 2017. Details about its founding team are publicly available through the company's official filings and investor relations materials.
Is NESR a long-term quality investment?
From a long-term quality perspective, NESR's Weak Moat and Weak Quality pillar ratings are meaningful considerations. The Growth pillar offers some optimism, but sustained long-term quality typically requires stronger competitive advantages and business fundamentals than NESR currently demonstrates.
What sector does NESR belong to?
NESR operates in the Energy sector, specifically within oilfield services. It serves upstream oil and gas operators across the Middle East, North Africa, and Asia Pacific — regions with significant ongoing drilling and production activity.
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Pro Analysis
NESR — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 24, 2026 | 45.5 | 30.7 | 28.0 | 52.5 | 55.2 | 80.4 | +0.1 |
| May 20, 2026 | 45.4 | 30.6 | 28.0 | 52.5 | 55.2 | 79.6 | -1.9 |
| May 14, 2026 | 47.3 | 30.6 | 28.0 | 52.5 | 70.7 | 76.8 | -0.1 |
| May 12, 2026 | 47.4 | 32.0 | 28.0 | 52.5 | 70.7 | 75.4 | +6.8 |
| May 8, 2026 | 40.6 | 8.4 | 28.0 | 52.5 | 40.3 | 100.0 | -3.3 |
| May 3, 2026 | 43.9 | 29.0 | 28.0 | 52.5 | 52.5 | 75.3 | -0.1 |
| Apr 26, 2026 | 44.0 | 29.0 | 28.0 | 52.5 | 52.5 | 75.8 | 0.0 |
| Apr 22, 2026 | 44.0 | 29.0 | 28.0 | 52.5 | 52.5 | 75.9 | -3.1 |
| Apr 19, 2026 | 47.1 | 34.1 | 28.0 | 61.7 | 52.5 | 75.9 | -0.3 |
| Apr 18, 2026 | 47.4 | 34.1 | 28.0 | 61.7 | 52.5 | 77.7 | -2.5 |
NESR — Pillar Breakdown
Quality
— 30.7/100 (25%)National Energy Services Reunited Corp. currently shows below-average quality metrics, suggesting challenges with profitability.
How effectively capital is deployed to generate returns.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Asset productivity — how much gross profit each dollar of assets generates.
Free cash flow relative to market value.
Growth
— 52.5/100 (20%)National Energy Services Reunited Corp. shows steady but unspectacular growth, typical for mature companies.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Analyst consensus for future earnings growth.
Risk
— 55.2/100 (15%)National Energy Services Reunited Corp. maintains a reasonable risk profile with manageable debt levels.
Debt levels relative to earnings capacity.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 80.4/100 (15%)National Energy Services Reunited Corp. appears attractively valued relative to its earnings, cash flows, and sector peers.
Inverse of forward P/E — higher yield means cheaper stock.
How many years of FCF the market cap represents.
P/E relative to earnings growth — lower is more attractive.
Enterprise value multiple relative to sector median.
Moat
— 28/100 (25%)National Energy Services Reunited Corp. operates in a highly competitive environment with limited sustainable advantages. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for NESR.
Score Composition
Financial Data
More Stock Analysis
How is the NESR UQS Score Calculated?
The UQS (Unified Quality Score) for National Energy Services Reunited Corp. is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses National Energy Services Reunited Corp.'s competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether National Energy Services Reunited Corp. is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.