DNOW on NYSE

DNOW Inc.

American oil and gas field machinery and equipment company.

Price unavailable

Last updated Oct 18, 2026.

Overview

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TickerDNOW on NYSE
IndustryOil & Gas Field Machinery & Equipment
HeadquartersDE
Incorporated inDE²
Business address7402 North Eldridge Parkway, Houston, Tx 77041²
Filer categoryLarge accelerated filer²

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

17.0%Gross margin³

-3.3%Operating margin³

-3.2%Net margin³

18.8%Revenue growth, 2025³

-4.0%Return on equity³

0.18×Debt to equity³

$134.0MFree cash flow³

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Business segments

Upstream brought in 62% of the revenue DNOW Inc. broke down this way in fiscal 2025.

Upstream$1.8B³62%up 5% from 2024
Midstream$590.0M³21%up 31% from 2024
Downstream and Industrial$288.0M³10%up 41% from 2024
Gas Utilities$185.0M³7%up 340% from 2024

Business segments by year

Business segments	2023	2024	2025
Upstream	$1.8B	$1.7B	$1.8B
Midstream	$255.0M	$452.0M	$590.0M
Downstream and Industrial	$210.0M	$204.0M	$288.0M
Gas Utilities	$37.0M	$42.0M	$185.0M

Regions

United States brought in 81% of the revenue DNOW Inc. broke down this way in fiscal 2025.

United States$2.3B³81%up 22% from 2024
International$312.0M³11%up 30% from 2024
Canada$214.0M³8%down 15% from 2024

Regions by year

Regions	2023	2024	2025
United States	$1.7B	$1.9B	$2.3B
International	$290.0M	$240.0M	$312.0M
Canada	$282.0M	$253.0M	$214.0M

Where the money goes

Where each dollar of revenue went, fiscal 2025

Cost of revenueSelling, general and admin

Cost of revenue80¢$2.3B
Selling, general and admin19¢$559.0M
Income tax0¢$12.0M

Out of $2.8B in revenue.³ The company lost money this year.

Where each dollar of operating cash went, fiscal 2025

Capital spendingShare buybacksKept or used elsewhere

Capital spending14¢$21.0M
Share buybacks24¢$37.0M
Kept or used elsewhere63¢$97.0M

Out of $155.0M of cash from operations.³

Financial statements

Revenue⁴⁵⁶⁷³$2.8B in 2025−4% since 2019

Gross profit³$478.0M in 2025−11% since 2023

Operating income⁴⁵⁶⁷³-$93.0M in 2025+12% since 2019

Net income⁴⁵⁶⁷³-$89.0M in 2025−8% since 2019

Every line of the income statement as filed: the last 3 fiscal years, latest first.³

Period ending	2025-12-31	2024-12-31	2023-12-31
Revenue	$2.8B	$2.4B	$2.3B
Cost of products	$2.3B	$1.8B	$1.8B
Gross profit	$478.0M	$531.0M	$539.0M
Selling, general and administrative expenses	$559.0M	$416.0M	$395.0M
Impairment and other charges	$12.0M	$6.0M	$0
Operating (loss) profit	-$93.0M	$109.0M	$144.0M
Other expense	-$7.0M	$1.0M	-$2.0M
(Loss) income before income taxes	-$100.0M	$110.0M	$142.0M
Income tax (benefit) provision	-$12.0M	$31.0M	-$109.0M
Net (loss) income	-$88.0M	$79.0M	$251.0M
Net income attributable to noncontrolling interest	$1.0M	$1.0M	$1.0M
Net (loss) income attributable to DNOW Inc.	-$89.0M	$78.0M	$250.0M
Basic	-$0.76	$0.72	$2.29
Diluted	-$0.76	$0.71	$2.27
Weighted-average common shares outstanding, basic	117.9M shares	106.4M shares	107.4M shares
Weighted-average common shares outstanding, diluted	117.9M shares	107.1M shares	108.4M shares

Total assets⁴⁵⁶⁷³$3.9B in 2025+147% since 2019

Total liabilities¹⁰⁴⁵⁶⁷³$1.7B in 2025+277% since 2019

Shareholders’ equity¹⁰⁴⁵⁶⁷³$2.2B in 2025+95% since 2019

Cash⁴⁵⁶⁷³$164.0M in 2025−10% since 2019

Long-term debt³$411.0M in 2025

Every line of the balance sheet as filed: the last 5 fiscal years (annual) or 5 quarters (quarterly), latest first.³

Period ending	2025-12-31	2025-10-31	2024-12-31	2023-12-31	2022-12-31
Cash and cash equivalents	$164.0M		$256.0M
Receivables, net	$874.0M		$388.0M
Inventories, net	$1.2B		$352.0M
Prepaid and other current assets	$48.0M		$32.0M
Total current assets	$2.3B		$1.0B
Property, plant and equipment, net	$264.0M		$157.0M	$131.0M
Operating right-of-use assets	$160.0M		$40.0M
Deferred income taxes	$11.0M		$93.0M
Goodwill	$617.0M		$230.0M	$139.0M
Intangibles, net	$565.0M		$65.0M
Other assets	$29.0M		$8.0M
Total assets	$3.9B		$1.6B	$1.5B
Accounts payable	$653.0M		$300.0M
Accrued liabilities	$300.0M		$130.0M
Other current liabilities	$21.0M		$12.0M
Total current liabilities	$974.0M		$442.0M
Long-term operating lease liabilities	$129.0M		$29.0M
Long-term debt	$411.0M		$0
Deferred income taxes	$99.0M		$0
Other long-term liabilities	$73.0M		$22.0M
Total liabilities	$1.7B		$493.0M
Common stock - par value $0.01; 330 million shares authorized; 186,125,254 and 105,652,963 shares issued and outstanding at December 31, 2025 and 2024, respectively	$2.0M		$1.0M
Additional paid-in capital	$3.2B		$2.0B
Accumulated deficit	-$836.0M		-$747.0M
Accumulated other comprehensive loss	-$126.0M		-$153.0M
DNOW Inc. stockholders' equity	$2.2B		$1.1B
Noncontrolling interest	$5.0M		$4.0M
Total stockholders' equity	$2.2B		$1.1B	$1.1B	$844.0M
Total liabilities and stockholders' equity	$3.9B		$1.6B
Preferred stock, shares issued	0 shares		0 shares
Preferred stock, shares outstanding	0 shares		0 shares
Common stock, par value	$0.01		$0.01
Common stock, shares authorized	330.0M shares		330.0M shares
Common stock, shares issued	186.1M shares	82.0M shares	105.7M shares
Common stock, shares outstanding	186.1M shares		105.7M shares

Period ending	2025-12-31	2025-10-31	2024-12-31	2023-12-31	2022-12-31
Cash and cash equivalents	$164.0M		$256.0M
Receivables, net	$874.0M		$388.0M
Inventories, net	$1.2B		$352.0M
Prepaid and other current assets	$48.0M		$32.0M
Total current assets	$2.3B		$1.0B
Property, plant and equipment, net	$264.0M		$157.0M	$131.0M
Operating right-of-use assets	$160.0M		$40.0M
Deferred income taxes	$11.0M		$93.0M
Goodwill	$617.0M		$230.0M	$139.0M
Intangibles, net	$565.0M		$65.0M
Other assets	$29.0M		$8.0M
Total assets	$3.9B		$1.6B	$1.5B
Accounts payable	$653.0M		$300.0M
Accrued liabilities	$300.0M		$130.0M
Other current liabilities	$21.0M		$12.0M
Total current liabilities	$974.0M		$442.0M
Long-term operating lease liabilities	$129.0M		$29.0M
Long-term debt	$411.0M		$0
Deferred income taxes	$99.0M		$0
Other long-term liabilities	$73.0M		$22.0M
Total liabilities	$1.7B		$493.0M
Common stock - par value $0.01; 330 million shares authorized; 186,125,254 and 105,652,963 shares issued and outstanding at December 31, 2025 and 2024, respectively	$2.0M		$1.0M
Additional paid-in capital	$3.2B		$2.0B
Accumulated deficit	-$836.0M		-$747.0M
Accumulated other comprehensive loss	-$126.0M		-$153.0M
DNOW Inc. stockholders' equity	$2.2B		$1.1B
Noncontrolling interest	$5.0M		$4.0M
Total stockholders' equity	$2.2B		$1.1B	$1.1B	$844.0M
Total liabilities and stockholders' equity	$3.9B		$1.6B
Preferred stock, shares issued	0 shares		0 shares
Preferred stock, shares outstanding	0 shares		0 shares
Common stock, par value	$0.01		$0.01
Common stock, shares authorized	330.0M shares		330.0M shares
Common stock, shares issued	186.1M shares	82.0M shares	105.7M shares
Common stock, shares outstanding	186.1M shares		105.7M shares

Cash from operations⁴⁵⁶⁷³$155.0M in 2025−31% since 2019

Capital spending⁴⁵⁶⁷³$21.0M in 2025+75% since 2019

Free cash flow⁴⁵⁶⁷³$134.0M in 2025−37% since 2019

Share buybacks⁵⁶⁷³$37.0M in 2025

Every line of the cash flow as filed: the last 3 fiscal years, latest first.³

Period ending	2025-12-31	2024-12-31	2023-12-31
Net (loss) income	-$88.0M	$79.0M	$251.0M
Depreciation and amortization	$52.0M	$34.0M	$26.0M
Increase (decrease) in LIFO reserve	$27.0M	$4.0M	-$4.0M
Impairment and other charges	$12.0M	$6.0M	$0
Stock-based compensation	$29.0M	$13.0M	$15.0M
Deferred income taxes	-$16.0M	$24.0M	-$118.0M
Operating lease expense	$24.0M	$18.0M	$17.0M
Other, net	$0	$1.0M	$10.0M
Receivables	$40.0M	$81.0M	$16.0M
Inventories	$107.0M	$80.0M	$12.0M
Prepaid and other current assets	$20.0M	-$8.0M	$7.0M
Accounts payable	-$37.0M	-$15.0M	-$20.0M
Accrued liabilities and other, net	-$15.0M	-$19.0M	-$24.0M
Net cash provided by operating activities	$155.0M	$298.0M	$188.0M
Business acquisitions, net of cash acquired	-$574.0M	-$299.0M	-$32.0M
Purchases of property, plant and equipment	-$21.0M	-$9.0M	-$17.0M
Other, net	$5.0M	$4.0M	$1.0M
Net cash used in investing activities	-$590.0M	-$304.0M	-$48.0M
Borrowings under the revolving credit facility	$643.0M	$0	$0
Repayments under the revolving credit facility	-$232.0M	$0	$0
Repurchases of common stock	-$37.0M	-$23.0M	-$50.0M
Shares withheld for taxes	-$19.0M	-$4.0M	-$1.0M
Other, net	-$16.0M	-$6.0M	-$4.0M
Net cash provided by (used in) financing activities	$339.0M	-$33.0M	-$55.0M
Effect of exchange rates on cash and cash equivalents	$4.0M	-$4.0M	$2.0M
Net change in cash and cash equivalents	-$92.0M	-$43.0M	$87.0M
Income taxes paid, net	$3.0M	$6.0M	$10.0M
Interest paid	$4.0M	$0	$0
Accrued purchases of property, plant and equipment	$5.0M	$1.0M	$1.0M
Common stock issued in connection with acquisition of MRC Global	$1.2B	$0	$0

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Leadership

Who has led DNOW Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

Chair

Merrill A. Miller Jr.2014–2017

President

Chief financial officer

201520202025

Chief executive officerDavid A. Cherechinsky Nov 30, 2020 to now¹¹
Chief executive officerRichard J. Alario Nov 21, 2019 to Nov 21, 2019¹²
Chief executive officerRobert R. Workman May 13, 2014 to Feb 21, 2019¹³
ChairMerrill A. Miller Jr. May 13, 2014 to Feb 27, 2017¹⁴
PresidentDavid A. Cherechinsky Nov 30, 2020 to now¹¹
PresidentRobert R. Workman May 13, 2014 to Feb 21, 2019¹³
Chief financial officerDavid A. Cherechinsky Feb 21, 2018 to Feb 25, 2020¹⁵
Chief financial officerDaniel L. Molinaro May 13, 2014 to Feb 27, 2017¹⁶

Board members and other officers (22)

OfficerRaymond W. Chang Feb 24, 2026 to now¹⁷
VP and CAOGillian Anderson Nov 6, 2025 to now¹⁸
OfficerFanny R. Surratt Jan 8, 2021 to now¹⁹
OfficerKelly T. Munson Jan 8, 2021 to now²⁰
Chief Accounting OfficerMark B. Johnson Feb 16, 2018 to now²¹
Executive Vice PresidentDaniel L. Molinaro Feb 21, 2018 to Feb 25, 2020²²
VP, Corp. Controller and CAODavid A. Cherechinsky May 13, 2014 to now²³
Board memberGeorge John Damiris Nov 6, 2025 to now²⁴
Board memberRonald L. Jadin Nov 6, 2025 to now²⁵
Board memberKaren David-Green Mar 27, 2023 to now²⁶
Board memberDavid A. Cherechinsky Feb 23, 2021 to now²⁷
Board memberSonya Reed Aug 12, 2021 to now²⁸
Board memberPaul M. Coppinger Jan 3, 2018 to now²⁹
Board memberJ. Wayne Richards May 13, 2014 to May 20, 2021³⁰
Board memberRobert R. Workman May 13, 2014 to Feb 21, 2019¹³
Board memberRodney W. Eads May 13, 2014 to now³¹
Board memberGalen Cobb May 30, 2014 to now³²
Board memberJames Crandell May 30, 2014 to May 26, 2022³³
Board memberMichael E. Frazier May 30, 2014 to May 24, 2018³⁴
Board memberRichard J. Alario May 30, 2014 to now³⁵
Board memberTerry Bonno May 30, 2014 to now³⁶
General counselRaymond W. Chang May 13, 2014 to now³⁷

Former names

NOW Inc.Feb 26, 2014 to Jan 9, 2024²

Timeline

Nov 30, 2020New chief executive David A. Cherechinsky becomes CEO¹¹
Nov 21, 2019New chief executive Richard J. Alario becomes CEO¹²
May 13, 2014New chief executive Robert R. Workman becomes CEO¹³

Filings

230 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 41 major events, 91 insider forms, 23 large holders, 54 other. The latest 20:

Aug 12, 20264 EDGAR
Aug 12, 20264 EDGAR
Aug 12, 20264 EDGAR
Aug 10, 2026144 EDGAR
Aug 10, 2026144 EDGAR
Aug 10, 2026144 EDGAR
Aug 6, 202610-Q EDGAR
Aug 6, 20268-K EDGAR
Jul 14, 2026SCHEDULE 13G/A EDGAR
Jun 5, 2026SCHEDULE 13G/A EDGAR
Jun 1, 2026SD EDGAR
May 22, 20264 EDGAR
May 22, 20264 EDGAR
May 22, 20264 EDGAR
May 22, 20264 EDGAR
May 22, 20264 EDGAR
May 22, 20264 EDGAR
May 22, 20264 EDGAR
May 22, 20264 EDGAR
May 20, 20268-K EDGAR

The 230 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last three years, summarized. The full record is on SEC EDGAR.

Insider trades and holders

Large holders

Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 23 such filings since October 2021, the latest 10:

From Forms 4 and Schedules 13D and 13G filed with the SEC.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

Fund	Shares	Value	Share of the fund	Change
BlackRock, Inc.	28,908,385	$374.9M	0.0%	−783,090
Wellington Management Group Llp	19,513,068	$253.1M	0.0%	+2,633,894
Vanguard Portfolio Management LLC	10,397,158	$134.9M	0.0%	−26,395
Vanguard Capital Management LLC	8,202,459	$106.4M	0.0%	−129,100
Dimensional Fund Advisors LP	7,956,916	$103.2M	0.0%	−2,425,704
State Street Corp	7,279,614	$94.4M	0.0%	+175,510
First Trust Advisors LP	6,607,074	$85.7M	0.1%	+2,541,346
Engine Capital Management, LP	5,169,462	$67.0M	6.5%	+3,600
Geode Capital Management, LLC	4,769,830	$61.9M	0.0%	+216,024
Renaissance Technologies LLC	4,697,825	$60.9M	0.1%	+239,800
Greenhaven Associates Inc	4,343,617	$56.3M	0.7%	+3,519,130
River Road Asset Management, LLC	3,936,101	$51.1M	0.6%	−73,124
Rubric Capital Management LP	3,898,635	$50.6M	0.5%	+2,631,108
Verbena Value LP	3,607,059	$46.8M	7.7%	+309,155
Barrow Hanley Mewhinney & Strauss LLC	3,279,914	$42.5M	0.1%	−614,884
ACK Asset Management LLC	3,000,000	$38.9M	4.5%	New
Charles Schwab Investment Management Inc	2,989,585	$38.8M	0.0%	+19,094
Pzena Investment Management LLC	2,893,482	$37.5M	0.1%	−201,833
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.	2,845,675	$36.9M	0.0%	+215,438
Fuller & Thaler Asset Management, Inc.	2,818,746	$36.6M	0.1%	−99,875
Adage Capital Partners Gp, L.l.c.	2,635,000	$34.2M	0.0%	New
Bank Of America Corp /de/	1,955,141	$25.4M	0.0%	+539,418
Northern Trust Corp	1,954,716	$25.4M	0.0%	+84,249
Morgan Stanley	1,785,055	$23.2M	0.0%	−61,371
Royce & Associates LP	1,751,649	$22.7M	0.2%	+92,955

13F reports cover disclosed long positions in U.S. stocks only.

Sources

The numbers on this page point here. Each one links to the record it came from.

1
SEC EDGARDNOW Inc. filings on SEC EDGAR
2
SEC EDGARDNOW Inc. filings on SEC EDGAR
3
SEC EDGARDNOW Inc. 10-K for fiscal 2025
4
SEC EDGARDNOW Inc. 10-K for fiscal 2019
5
SEC EDGARDNOW Inc. 10-K for fiscal 2020
6
SEC EDGARDNOW Inc. 10-K for fiscal 2021
7
SEC EDGARDNOW Inc. 10-K for fiscal 2022
8
SEC EDGARDNOW Inc. 10-Q for fiscal 2026
9
SEC EDGARDNOW Inc. 10-Q for fiscal 2026
10
SEC EDGARDNOW Inc. 10-K for fiscal 2019
11
SEC EDGARDavid A. Cherechinsky, Chief executive officer
12
SEC EDGARRichard J. Alario, Chief executive officer
13
SEC EDGARRobert R. Workman, Chief executive officer
14
SEC EDGARMerrill A. Miller Jr., Chair
15
SEC EDGARDavid A. Cherechinsky, Chief financial officer
16
SEC EDGARDaniel L. Molinaro, Chief financial officer
17
SEC EDGARRaymond W. Chang, Officer
18
SEC EDGARGillian Anderson, VP and CAO
19
SEC EDGARFanny R. Surratt, Officer
20
SEC EDGARKelly T. Munson, Officer
21
SEC EDGARMark B. Johnson, Chief Accounting Officer
22
SEC EDGARDaniel L. Molinaro, Executive Vice President
23
SEC EDGARDavid A. Cherechinsky, VP, Corp. Controller and CAO
24
SEC EDGARGeorge John Damiris, Board member
25
SEC EDGARRonald L. Jadin, Board member
26
SEC EDGARKaren David-Green, Board member
27
SEC EDGARDavid A. Cherechinsky, Board member
28
SEC EDGARSonya Reed, Board member
29
SEC EDGARPaul M. Coppinger, Board member
30
SEC EDGARJ. Wayne Richards, Board member
31
SEC EDGARRodney W. Eads, Board member
32
SEC EDGARGalen Cobb, Board member
33
SEC EDGARJames Crandell, Board member
34
SEC EDGARMichael E. Frazier, Board member
35
SEC EDGARRichard J. Alario, Board member
36
SEC EDGARTerry Bonno, Board member
37
SEC EDGARRaymond W. Chang, General counsel