NOV (NYSE:NOV) Full Year 2023 Results

Key Financial Results

• Revenue: US$8.58b (up 19% from FY 2022).
• Net income: US$993.0m (up by US$838.0m from FY 2022).
• Profit margin: 12% (up from 2.1% in FY 2022). The increase in margin was driven by higher revenue.
• EPS: US$2.53 (up from US$0.40 in FY 2022).

All figures shown in the chart above are for the trailing 12 month (TTM) period

NOV Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 1.0%. Earnings per share (EPS) also surpassed analyst estimates by 77%.

Looking ahead, revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Energy Services industry in the US.

Performance of the American Energy Services industry.

The company's share price is broadly unchanged from a week ago.

Valuation

Our analysis of these results suggests NOV may be undervalued based on 6 important criteria we look at. Click here to view our comprehensive analysis and gain insights into the stock's investment prospects.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.