NESR on Nasdaq
National Energy Services Reunited Corp.
National Energy Services Reunited Corp. is an oil and gas field services company in the British Virgin Islands.1 It is headquartered in Houston, Texas.1 Its shares trade on Nasdaq under the symbol NESR.1
$19.40 down 0.18 (0.92%)Price as of Oct 15, 2026 at 17:33 UTC
Last updated Oct 20, 2026.
Overview
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- TickerNESR on Nasdaq1
- IndustryOil & Gas Field Services, NEC1
- HeadquartersHouston, Texas1
- Incorporated inVirgin Islands, British4
- Business address777 Post Oak Blvd., 7Th Floor, Houston, Tx 770564
- Filer categoryAccelerated filer4
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Saudi Arabia, Oman, Kuwait, United Arab Emirates (“UAE”), Iraq, Algeria, Egypt and Libya.6 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
12.4%Gross margin3
7.4%Operating margin3
3.9%Net margin3
1.7%Revenue growth, 20253
5.3%Return on equity3
0.20×Debt to equity3
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Production Services brought in 62% of the revenue National Energy Services Reunited Corp. broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Production Services | $785.6M | $878.1M | $816.0M |
| Drilling and Evaluation Services | $360.3M | $423.6M | $508.0M |
Regions
MENA brought in 99% of the revenue National Energy Services Reunited Corp. broke down this way in fiscal 2025.
Regions by year
| Regions | 2023 | 2024 | 2025 |
|---|---|---|---|
| MENA | $1.1B | $1.3B | $1.3B |
| Rest of World | $13.6M | $18.8M | $8.1M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue88¢$1.2B
- Selling, general and admin4¢$47.6M
- Other costs2¢$24.2M
- Interest2¢$32.5M
- Income tax1¢$9.3M
- Profit4¢$51.1M
Out of $1.3B in revenue.3
Where each dollar of operating cash went, fiscal 2025
- Kept or used elsewhere100¢$264.2M
Out of $264.2M of cash from operations.3
Financial statements
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 |
|---|---|---|---|
| Revenues | $1.3B | $1.3B | $1.1B |
| Cost of services | -$1.2B | -$1.1B | -$997.3M |
| Gross profit | $164.7M | $208.7M | $148.7M |
| Selling, general and administrative expenses (excluding Amortization) | -$47.6M | -$52.2M | -$49.2M |
| Amortization | -$18.8M | -$18.8M | -$18.8M |
| Operating income | $98.3M | $137.7M | $80.7M |
| Interest expense, net | -$32.5M | -$39.9M | -$45.8M |
| Other (expense) / income, net | -$5.4M | -$2.3M | -$5.0M |
| Income before income tax | $60.4M | $95.5M | $29.8M |
| Income tax expense | -$9.3M | -$19.2M | -$17.3M |
| Net income | $51.1M | $76.3M | $12.6M |
| Basic | 98.4M shares | 95.5M shares | 94.7M shares |
| Diluted | 99.1M shares | 95.7M shares | 94.7M shares |
| Basic | $0.52 | $0.80 | $0.13 |
| Diluted | $0.52 | $0.80 | $0.13 |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $124.8M | $108.0M | $67.8M | |
| Accounts receivable, net (Note 5) | $178.0M | $137.3M | $171.3M | |
| Unbilled revenue | $121.2M | $111.7M | ||
| Service inventories (Note 6) | $94.8M | $96.8M | ||
| Prepaid assets | $13.2M | $10.1M | ||
| Retention withholdings | $33.1M | $31.1M | ||
| Other receivables | $54.5M | $38.5M | ||
| Other current assets | $10.7M | $7.1M | ||
| Total current assets | $630.4M | $540.5M | ||
| Property, plant and equipment, net (Note 7) | $465.5M | $438.1M | ||
| Intangible assets, net (Note 8) | $47.1M | $65.7M | ||
| Goodwill (Note 8) | $645.1M | $645.1M | ||
| Operating lease right-of-use assets (Note 9) | $20.3M | $26.0M | ||
| Other assets | $43.2M | $58.2M | ||
| Total assets | $1.9B | $1.8B | ||
| Accounts payable and accrued expenses | $421.1M | $305.3M | ||
| Current installments of long-term debt (Note 10) | $64.5M | $68.7M | ||
| Short-term borrowings (Note 10) | $54.2M | $59.7M | ||
| Income taxes payable (Note 12) | $25.1M | $7.7M | ||
| Other taxes payable | $12.4M | $27.5M | ||
| Operating lease liabilities (Note 9) | $2.9M | $5.4M | ||
| Other current liabilities | $24.7M | $29.1M | ||
| Total current liabilities | $604.9M | $503.5M | ||
| Long-term debt (Note 10) | $191.4M | $254.4M | ||
| Deferred tax liabilities (Note 12) | $1.7M | $5.6M | ||
| Employee benefit liabilities (Note 11) | $36.3M | $31.8M | ||
| Non-current operating lease liabilities (Note 9) | $18.4M | $20.8M | ||
| Other liabilities | $30.8M | $49.3M | ||
| Total liabilities | $883.6M | $865.4M | ||
| Common stock and additional paid in capital, no par value; unlimited shares authorized; 100,787,173 and 96,045,856 shares issued and outstanding at December 31, 2025, and 2024, respectively (Note 15) | $902.8M | $894.3M | ||
| Retained income | $65.0M | $13.9M | ||
| Accumulated other comprehensive income | $69.0K | $69.0K | ||
| Total equity | $967.9M | $908.2M | $821.5M | $802.3M |
| Total liabilities and equity | $1.9B | $1.8B | ||
| Preferred Stock, No Par Value | $0 | $0 | ||
| Preferred stock, shares issued | 0 shares | 0 shares | ||
| Preferred stock, shares outstanding | 0 shares | 0 shares | ||
| Common stock, no par value | $0 | $0 | ||
| Common stock, shares issued | 100.8M shares | 96.0M shares | ||
| Common stock, shares outstanding | 100.8M shares | 96.0M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $124.8M | $108.0M | $67.8M | |
| Accounts receivable, net (Note 5) | $178.0M | $137.3M | $171.3M | |
| Unbilled revenue | $121.2M | $111.7M | ||
| Service inventories (Note 6) | $94.8M | $96.8M | ||
| Prepaid assets | $13.2M | $10.1M | ||
| Retention withholdings | $33.1M | $31.1M | ||
| Other receivables | $54.5M | $38.5M | ||
| Other current assets | $10.7M | $7.1M | ||
| Total current assets | $630.4M | $540.5M | ||
| Property, plant and equipment, net (Note 7) | $465.5M | $438.1M | ||
| Intangible assets, net (Note 8) | $47.1M | $65.7M | ||
| Goodwill (Note 8) | $645.1M | $645.1M | ||
| Operating lease right-of-use assets (Note 9) | $20.3M | $26.0M | ||
| Other assets | $43.2M | $58.2M | ||
| Total assets | $1.9B | $1.8B | ||
| Accounts payable and accrued expenses | $421.1M | $305.3M | ||
| Current installments of long-term debt (Note 10) | $64.5M | $68.7M | ||
| Short-term borrowings (Note 10) | $54.2M | $59.7M | ||
| Income taxes payable (Note 12) | $25.1M | $7.7M | ||
| Other taxes payable | $12.4M | $27.5M | ||
| Operating lease liabilities (Note 9) | $2.9M | $5.4M | ||
| Other current liabilities | $24.7M | $29.1M | ||
| Total current liabilities | $604.9M | $503.5M | ||
| Long-term debt (Note 10) | $191.4M | $254.4M | ||
| Deferred tax liabilities (Note 12) | $1.7M | $5.6M | ||
| Employee benefit liabilities (Note 11) | $36.3M | $31.8M | ||
| Non-current operating lease liabilities (Note 9) | $18.4M | $20.8M | ||
| Other liabilities | $30.8M | $49.3M | ||
| Total liabilities | $883.6M | $865.4M | ||
| Common stock and additional paid in capital, no par value; unlimited shares authorized; 100,787,173 and 96,045,856 shares issued and outstanding at December 31, 2025, and 2024, respectively (Note 15) | $902.8M | $894.3M | ||
| Retained income | $65.0M | $13.9M | ||
| Accumulated other comprehensive income | $69.0K | $69.0K | ||
| Total equity | $967.9M | $908.2M | $821.5M | $802.3M |
| Total liabilities and equity | $1.9B | $1.8B | ||
| Preferred Stock, No Par Value | $0 | $0 | ||
| Preferred stock, shares issued | 0 shares | 0 shares | ||
| Preferred stock, shares outstanding | 0 shares | 0 shares | ||
| Common stock, no par value | $0 | $0 | ||
| Common stock, shares issued | 100.8M shares | 96.0M shares | ||
| Common stock, shares outstanding | 100.8M shares | 96.0M shares |
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 income | $51.1M | $76.3M | $12.6M |
| Depreciation and amortization | $141.7M | $142.8M | $142.2M |
| Share-based compensation expense | $8.3M | $6.0M | $6.8M |
| (Gain) loss on disposal of assets | -$3.6M | $467.0K | $487.0K |
| Non-cash interest expense (income) | $1.0M | -$1.2M | $1.5M |
| Deferred tax (benefit) | -$5.2M | -$2.7M | -$3.8M |
| Allowance for doubtful receivables and unbilled revenue | $8.7M | $8.8M | $410.0K |
| Charges on obsolete service inventories | $1.5M | $2.3M | $137.0K |
| Impairments and other charges | $9.6M | $5.3M | $7.9M |
| Other operating activities, net | $2.7M | $327.0K | $933.0K |
| (Increase) decrease in accounts receivable | -$49.5M | $25.2M | -$23.0M |
| (Increase) decrease in unbilled revenue | -$9.5M | -$15.7M | $14.2M |
| (Increase) decrease in retention withholdings | -$2.1M | $17.3M | -$14.2M |
| (Increase) decrease in inventories | $425.0K | -$633.0K | $12.0M |
| (Increase) decrease in prepaid assets | -$3.1M | -$909.0K | -$8.9M |
| (Increase) decrease in other current assets | -$1.7M | $5.0M | $2.8M |
| (Increase) decrease in other long-term assets and liabilities | -$1.6M | -$7.0M | $16.3M |
| Increase (decrease) in accounts payable and accrued expenses | $116.2M | -$38.5M | -$3.4M |
| Increase (decrease) in other current liabilities | -$1.0M | $6.1M | $11.9M |
| Net cash provided by operating activities | $264.2M | $229.3M | $177.0M |
| Capital expenditures | -$143.5M | -$105.1M | -$68.2M |
| IPM investments (Note 3) | -$16.0M | ||
| Proceeds from disposal of assets | $4.9M | $3.1M | $1.8M |
| Other investing activities | -$13.7M | -$9.1M | -$1.0M |
| Net cash used in investing activities | -$152.2M | -$111.1M | -$83.5M |
| Proceeds from long-term debt | $4.1M | $11.3M | |
| Repayments of long-term debt | -$68.7M | -$85.8M | -$54.8M |
| Proceeds from short-term borrowings | $98.6M | $83.4M | $94.5M |
| Repayments of short-term borrowings | -$104.2M | -$72.6M | -$137.4M |
| Payments on capital leases | -$3.9M | -$3.2M | -$2.4M |
| Payments on seller-provided financing for capital expenditures | -$7.4M | -$3.8M | -$15.6M |
| Other financing activities, net | -$1.6M | -$163.0K | -$197.0K |
| Net cash used in financing activities | -$87.3M | -$78.1M | -$104.5M |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | $24.7M | $40.1M | -$11.0M |
| Interest paid | $28.5M | $38.3M | $33.9M |
No quarter-by-quarter statement was filed.
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Corporate structure
National Energy Services Reunited Corp. sits at the top of its group. 35 entities, 16 countries on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of National Energy Services Reunited Corp.
- Encompass Capital Advisors LLC Filed SCHEDULE 13G/A on National Energy Services Reunited Corp., latest May 15, 2026 (7 filings since May 8, 2023)
- FMR LLC Filed SCHEDULE 13G/A on National Energy Services Reunited Corp., latest May 7, 2026 (6 filings since Feb 9, 2023)
- Mubbadrah Investment LLC Filed SCHEDULE 13D/A on National Energy Services Reunited Corp., latest Feb 17, 2026 (6 filings since Nov 22, 2021)
- Olayan Saudi Holding Co Filed SC 13D/A on National Energy Services Reunited Corp., latest Nov 4, 2024
- National Energy Services Reunited Corp. Houston, Texas
- Energy Oilfield Supplies DMCC Subsidiary · United Arab Emirates
- Energy Solutions Iraq BV Subsidiary · Netherlands
- Gulf Energy SAOC Subsidiary · Oman
- Gulf Energy Services LLC Subsidiary · Oman
- Integrated Petroleum Services Company LLC Subsidiary · Oman
- Makameen Petroleum LLC Subsidiary · Oman
- MENA National Energy Ltd. Subsidiary · British Virgin Islands
- National Drilling Company Limited Subsidiary · Saudi Arabia
- National Energy Services Reunited DMCC Subsidiary · United Arab Emirates
- National Energy Services Reunited Regional Headquarters Limited Subsidiary · Saudi Arabia
- National Gulf Petroleum Services WLL Subsidiary · Kuwait
- National Oil Well Maintenance Company WLL Subsidiary · Qatar
- National Petroleum Services JSC Subsidiary · Libya
- National Petroleum Services Limited Subsidiary · Saudi Arabia
- National Petroleum Technology Company Limited Subsidiary · Saudi Arabia
- NESR Algeria SARL Subsidiary · Algeria
- NESR Cayman Limited Subsidiary · Cayman Islands
- NESR Energy Services LLC Subsidiary · United Arab Emirates
- NESR Limited Subsidiary · United Kingdom
- NESR Oil and Gas Services WLL Subsidiary · Qatar
- NNG Reinsurance Limited Subsidiary · United Arab Emirates
- NPS Bahrain For Oil and Gas Well Services WLL Subsidiary · Bahrain
- NPS Energy Holding WLL Subsidiary · Bahrain
- NPS Energy India Private Limited Subsidiary · India
- NPS Energy SDN BHD Subsidiary · Malaysia
- and 9 more
Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What National Energy Services Reunited Corp. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Land | $11.7M3 Dec 31, 2025 | $11.7M3 Dec 31, 2024 | 0% |
| Accumulated depreciation | $522.1M3 Dec 31, 2025 | $443.4M3 Dec 31, 2024 | +17.8% |
| Property and equipment, net | $465.5M3 Dec 31, 2025 | $438.1M3 Dec 31, 2024 | +6.2% |
| Finance-lease assets | $6.2M3 Dec 31, 2025 | $9.2M3 Dec 31, 2024 | −33.4% |
| Operating-lease assets (leased space) | $20.3M3 Dec 31, 2025 | $26.0M3 Dec 31, 2024 | −22.0% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $124.8M3 Dec 31, 2025 | $108.0M3 Dec 31, 2024 | +15.6% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Goodwill | $645.1M3 Dec 31, 2025 | $645.1M3 Dec 31, 2024 | 0% |
| Intangible assets, net (excluding goodwill) | $47.1M3 Dec 31, 2025 | $65.7M3 Dec 31, 2024 | −28.3% |
| Finite-lived intangibles, gross | $179.4M3 Dec 31, 2025 | $179.4M3 Dec 31, 2024 | 0% |
| Accumulated amortization | $132.4M3 Dec 31, 2025 | $113.7M3 Dec 31, 2024 | +16.4% |
| Finite-lived intangibles, net | $47.1M3 Dec 31, 2025 | $65.7M3 Dec 31, 2024 | −28.3% |
Inventory
Properties, in its own words
We have operations in 16 countries including Algeria, Bahrain, Chad, Congo, Egypt, India, Indonesia, Iraq, Kuwait, Libya, Oman, Qatar, Saudi Arabia, and UAE. In most countries, we have localized support bases that house equipment and personnel that are used to deliver the services we provide. Additionally, we operate NORI (part of our Unallocated long-lived assets, See Note 8, Goodwill, Intangible, and Other Assets, to the consolidated financial statements included in Item 8, “Financial Statements and Supplementary Data,” of this Annual Report) within in the heart of Saudi Arabia’s industrial research, technology, and academic hub, DTV. NORI allows us the ability to drive energy sector research and innovation across the MENA region through activities such as providing advanced core analysis and reservoir studies for our customers. Our principal executive offices are in Houston, Texas, U.S., with our regional headquarters in Dubai, UAE. No single tangible fixed asset is individually material to our operations. Our owned properties have no material encumbrances. We believe all properties that we currently occupy are suitable for their intended use.
Item 2 of the 10-K filed Mar 6, 2026.6
Leadership
Who has led National Energy Services Reunited Corp., and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief financial officer
20202025
- Chief executive officerSherif Foda May 11, 2017 to now14
- Chief financial officerStefan Angeli Jan 6, 2026 to now15
- Chief financial officerMelissa Cougle Jun 26, 2018 to Jun 26, 201816
- Chief financial officerThomas D. Wood May 11, 2017 to May 30, 201717
- Chief financial officerChristine J. Morris Oct 11, 2017 to Oct 11, 201718
Board members and other officers (11)
- Board memberAndrew L. Waite Jan 2, 2026 to now19
- Board memberAnthony R. Chase Jan 2, 2026 to now20
- Board memberLisa A. Pollina Jan 2, 2026 to now21
- Board memberYousif Mohammed Ali Nasser Al-Nowais Jan 23, 2026 to now22
- Board memberMaen Razouqi Aug 10, 2026 to now23
- Board memberAdnan Ghabris Jun 22, 2018 to Jun 22, 201824
- Board memberNoaimi Salem Rashed Abdulla Ali Al Jun 22, 2018 to Jun 22, 201825
- Board memberHala Zeibak May 11, 2017 to May 11, 201726
- Board memberMejia Antonio J. Campo May 11, 2017 to now27
- Board memberSherif Foda May 11, 2017 to now14
- Board memberThomas D. Wood May 11, 2017 to Jun 8, 201817
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- Energy Oilfield Supplies DMCC United Arab Emirates5
- Energy Solutions Iraq BV Netherlands5
- Gulf Energy SAOC Oman5
- Gulf Energy Services LLC Oman5
- Integrated Petroleum Services Company LLC Oman5
- MENA National Energy Ltd. British Virgin Islands5
- Makameen Petroleum LLC Oman5
- NESR Algeria SARL Algeria5
- NESR Cayman Limited Cayman Islands5
- NESR Energy Services LLC United Arab Emirates5
- NESR Limited United Kingdom5
- NESR Oil and Gas Services WLL Qatar5
- NNG Reinsurance Limited United Arab Emirates5
- NPS Bahrain For Oil and Gas Well Services WLL Bahrain5
- NPS Energy Holding WLL Bahrain5
- NPS Energy India Private Limited India5
- NPS Energy SDN BHD Malaysia5
- NPS Holdings Limited United Arab Emirates5
- National Drilling Company Limited Saudi Arabia5
- National Energy Services Reunited Corporation Texas5
- National Energy Services Reunited DMCC United Arab Emirates5
- National Energy Services Reunited Regional Headquarters Limited Saudi Arabia5
- National Gulf Petroleum Services WLL Kuwait5
- National Oil Well Maintenance Company WLL Qatar5
All 35 listed subsidiaries
- National Petroleum Services JSC Libya5
- National Petroleum Services Limited Saudi Arabia5
- National Petroleum Technology Company Limited Saudi Arabia5
- PT DFI Asia Energy Indonesia5
- PT NPS Energy Indonesia Indonesia5
- PT Tiger Energy Services ROI Indonesia5
- SAPESCO Arabian Petroleum Services LLC Saudi Arabia5
- Sahara For Maintenance and Operating Services LLC Egypt5
- Sahara Petroleum Services (SAPESCO) Company S.A.E. Egypt5
- Sino Gulf Energy Enterprises LLC Oman5
- Taqaat Professional Services DMCC United Arab Emirates5
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Timeline
- Aug 10, 20268-K Change of auditor28
- Aug 10, 20268-K Results of operations; Regulation FD disclosure29
- Jul 21, 20268-K Executive or director change30
- May 14, 20268-K Regulation FD disclosure31
- May 11, 20268-K Results of operations; Regulation FD disclosure32
- May 7, 20268-K Shareholder vote33
- Feb 17, 20268-K Results of operations; Regulation FD disclosure34
- May 11, 2017New chief executive Sherif Foda becomes CEO14
Calendar
Coming up
- Nov 12, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported $0.16 a share, on Nov 13, 2025.35
When it reported results
- Aug 10, 2026Reported quarterly or annual results29
- May 11, 2026Reported quarterly or annual results32
- Feb 17, 2026Reported quarterly or annual results34
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
119 filings to the SEC since October 2021: 4 annual reports, 2 quarterly reports, 7 major events, 24 insider forms, 20 large holders, 62 other. The latest 20:
- Sep 11, 20264 EDGAR
- Sep 2, 20264 EDGAR
- Sep 2, 2026144 EDGAR
- Sep 1, 2026144 EDGAR
- Aug 21, 20264 EDGAR
- Aug 17, 20264 EDGAR
- Aug 17, 20264 EDGAR
- Aug 17, 20264 EDGAR
- Aug 17, 20264 EDGAR
- Aug 17, 20264 EDGAR
- Aug 10, 202610-Q EDGAR
- Aug 10, 20268-K EDGAR
- Aug 10, 20268-K EDGAR
- Aug 10, 20263 EDGAR
- Jul 21, 20268-K EDGAR
- Jun 29, 20264 EDGAR
- Jun 16, 20264 EDGAR
- Jun 10, 20264 EDGAR
- May 27, 20264 EDGAR
- May 26, 2026144 EDGAR
The 119 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
15 open-market trades by officers, directors and large owners since October 2021: 0 buys and 15 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Sep 9, 2026 | Campo Mejia Antonio JDirector | Sale | 63,324 | $35.45 | $2.2M | Form 4 |
| Aug 31, 2026 | Foda SherifChief Executive Officer | Sale | 100,000 | $35.00 | $3.5M | Form 4 |
| Aug 18, 2026 | Angeli StefanChief Financial Officer | Sale | 13,570 | $35.12 | $476.6K | Form 4 |
| Jun 25, 2026 | Al-Nowais Yousif Mohammed Ali NasserDirector | Sale | 1,919,594 | $26.80 | $51.4M | Form 4 |
| Jun 13, 2026 | Al-Nowais Yousif Mohammed Ali NasserDirector | Sale | 332,857 | $26.90 | $9.0M | Form 4 |
| Jun 12, 2026 | Al-Nowais Yousif Mohammed Ali NasserDirector | Sale | 1,068,593 | $26.13 | $27.9M | Form 4 |
| Jun 9, 2026 | Al-Nowais Yousif Mohammed Ali NasserDirector | Sale | 200 | $25.55 | $5.1K | Form 4 |
| Jun 8, 2026 | Al-Nowais Yousif Mohammed Ali NasserDirector | Sale | 5,526 | $25.53 | $141.1K | Form 4 |
| May 26, 2026 | Al-Nowais Yousif Mohammed Ali NasserDirector | Sale | 457,391 | $26.12 | $11.9M | Form 4 |
| May 22, 2026 | Al-Nowais Yousif Mohammed Ali NasserDirector | Sale | 242,497 | $26.14 | $6.3M | Form 4 |
| May 20, 2026 | Al-Nowais Yousif Mohammed Ali NasserDirector | Sale | 573,544 | $26.14 | $15.0M | Form 4 |
| May 19, 2026 | Al-Nowais Yousif Mohammed Ali NasserDirector | Sale | 3,500 | $26.13 | $91.5K | Form 4 |
| May 18, 2026 | Al-Nowais Yousif Mohammed Ali NasserDirector | Sale | 220,568 | $26.06 | $5.7M | Form 4 |
| May 14, 2026 | Al-Nowais Yousif Mohammed Ali NasserDirector | Sale | 81,302 | $26.35 | $2.1M | Form 4 |
| May 13, 2026 | Al-Nowais Yousif Mohammed Ali NasserDirector | Sale | 223,626 | $26.85 | $6.0M | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Encompass Capital Advisors LLCSCHEDULE 13G/A, 7 filings May 8, 2023 to May 15, 202636
- FMR LLCSCHEDULE 13G/A, 6 filings Feb 9, 2023 to May 7, 202637
- Mubbadrah Investment LLCSCHEDULE 13D/A, 6 filings Nov 22, 2021 to Feb 17, 202638
- Olayan Saudi Holding CoSC 13D/A, 1 filing Nov 4, 202439
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | Sherif Foda | 57 | $840.0K | $2.3M40 |
| 2025 | Stefan Angeli | 66 | $450.0K | $1.7M40 |
| 2025 | Naif Al- Hadrami | $272.0K | $1.1M40 | |
| 2025 | Chokri Ben Amor | $312.0K | $1.0M40 | |
| 2025 | Jennifer Howard | $315.0K | $521.7K40 | |
| 2024 | Chief Financial Officer | $450.0K | $4.5M40 | |
| 2024 | Chairman & Chief Executive Officer | $840.0K | $2.3M40 | |
| 2024 | Executive Director & VPQHSE | $312.0K | $1.6M40 | |
| 2024 | Executive DirectorSaudi Arabia | $255.9K | $1.3M40 | |
| 2024 | General Counsel | $44.0K40 | ||
| 2023 | Chairman & Chief Executive Officer | $840.0K | $2.1M40 | |
| 2023 | Chief Financial Officer | $337.5K | $2.1M40 | |
| 2023 | Executive Director & VPQHSE | $249.6K | $483.5K40 | |
| 2023 | Executive DirectorSaudi Arabia | $207.6K | $421.9K40 |
Members of Congress who traded it
1 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.
| Date | Member | Trade | Amount | Vs S&P since | Filing |
|---|---|---|---|---|---|
| Dec 12, 2022 | Christopher L. Jacobs, House | Buy | $1,001 - $15,000 | Report |
Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).
SEC filer profile
How National Energy Services Reunited Corp. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARNational Energy Services Reunited Corp.1
- CIK0001698514
- Employer ID (EIN)98-13673026
- Filer statusAccelerated filer not an emerging growth company; not a smaller reporting company; a shell company6
- Incorporated inBritish Virgin Islands6
- Fiscal year endsDecember 311
- Industry code (SIC)1389 Oil & Gas Field Services, NEC1
- SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance1
- Business address777 Post Oak Blvd., 7Th Floor, Houston, TX 770561
- Phone(832) 925-37771
- Shares outstanding100,851,754 as of Jun 30, 202612
- Public float$411.2M as of Dec 31, 20256
- AuditorGrant Thornton Audit and Accounting Limited (Dubai Branch), Dubai, United Arab Emirates PCAOB ID 3211; it also attests to the company’s internal control over financial reporting6
- On EDGAR sinceFeb 22, 20171
- Filings270 in all: 6-K (69), 8-K (24), 4 (23), 3 (21), SC 13D/A (12), CORRESP (11), 144 (9), SC 13G/A (9)1
All 43 form types
SC 13G (7), UPLOAD (7), 10-Q (6), 20-F (6), SC 13D (6), SCHEDULE 13G/A (6), DEFA14A (5), EFFECT (5), 25-NSE (3), 424B3 (3), 425 (3), F-3 (3), S-1/A (3), SCHEDULE 13D/A (3), 10-K (2), 8-A12B (2), PREM14A (2), S-8 (2), SC TO-I/A (2), 424B4 (1), 424B7 (1), CERT (1), CERTNAS (1), DEF 14A (1), DEFM14A (1), DRS (1), F-4 (1), F-4/A (1), NT 20-F (1), PRER14A (1), S-1 (1), S-1MEF (1), S-3ASR (1), SC TO-C (1), SC TO-I (1)
- Latest filingsAnnual report (10-K) Mar 6, 2026
Quarterly report (10-Q) Aug 10, 2026
Proxy statement (DEF 14A) Mar 24, 2026
Latest 8-K (8-K) Aug 10, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Ordinary shares, no par value per share | NESR | Nasdaq |
From the cover page of the 10-K filed Mar 6, 2026 (Section 12(b) of the Exchange Act).6
Risk factors and legal proceedings
The risks National Energy Services Reunited Corp. names in Item 1A of its 10-K filed Mar 6, 2026: 49 risks under these headings, as written.6
- Risks Related to Our Business and Operations
- Financial, Regulatory, Legal and Compliance Risks
- Risks Related to Our Capital Structure
- Other Risks Associated with Our Business
- RISKS RELATING TO OUR BUSINESS AND OPERATIONS
- Trends in oil and natural gas prices affect the level of exploration, development, and production activity of our customers and the demand for our services and products, which could have a material adverse effect on our business, results of operations, and financial condition.
- Our business is dependent on capital spending by our customers, and reductions in capital spending could have a material adverse effect on our business, results of operations, and financial condition.
- Our assets require capital for maintenance, upgrades and refurbishment and we may require significant capital expenditures for new equipment.
- The geographic concentration of our operations and customers exposes us to the risks of the regional economy and other regional adverse conditions. The credit risks of our concentrated customer base in the energy industry could result in losses. In addition, we depend on a small number of customers for a significant portion of our revenues. Therefore, the loss of any of these customers could result in a decline in our revenues and adversely affect our financial condition, results of operations or cash flows.
- We operate in multiple countries across the Middle East, North Africa, and Asia. Therefore, our operations will be subject to political and economic instability and risk of government actions that could have a material adverse effect on our business, results of operations, and financial condition.
- Conditions in the Middle East, including current uncertainty and instability resulting from the conflict between the United States, Israel and Iran, as well as other regional hostilities could adversely affect our business.
- The Company is subject to various laws and regulations in the regions in which it operates, and changes in such laws and regulations, failure to comply with existing or future laws and regulations, and disputes regarding compliance with such laws and regulations could adversely affect the Company’s business.
The other 42 risks
- Physical dangers are inherent in our operations and may expose us to significant potential liability and losses. Personnel and property may be harmed during the process of drilling for oil and natural gas.
- If we do not effectively or efficiently integrate the operations of businesses or companies we acquire, our future growth will be limited.
- We operate in a highly competitive industry, and many of our competitors are larger than us and have greater resources than we do.
- If we are unable to keep pace with technology developments in the industry, including advancements in artificial intelligence, this could adversely affect our ability to maintain or grow market share.
- FINANCIAL, REGULATORY, LEGAL AND COMPLIANCE RISKS
- Impairment in the carrying value of goodwill could result in the incurrence of impairment charges.
- We may not be fully indemnified against financial losses in all circumstances where damage to or loss of property, personal injury, death or environmental harm occur.
- We operate in multiple countries and earn revenue in different currencies and as such may be exposed to risks arising from fluctuating exchange rates and currency control restrictions, which may limit our ability to reinvest earnings from operations in one country to fund the capital needs of our operations in other countries or to repatriate assets from some countries.
- Changes in international tax laws and the ongoing implementation of global minimum tax rules could increase our tax liabilities and compliance costs and adversely affect our results of operations.
- Lack of consolidation of our fiscal results in a taxpaying jurisdiction prevents offsetting some losses against taxable profits.
- The owners of NESR ordinary shares are subject to tax risks due to the possibility of changes in tax rules and regulations in foreign countries.
- If our subsidiaries are unable to comply with the restrictions and covenants in their debt agreements, they could default under the terms of such agreements, which could result in an acceleration of repayment.
- To service our indebtedness, we may require a significant amount of cash, and our ability to generate cash will depend on many factors beyond our control.
- Our borrowings under our various loan agreements and other financing arrangements expose us to interest rate risk and such arrangements also include restrictive covenants that may impact our subsidiaries’ ability to make distributions to us.
- We are exposed to the credit risk of our customers and counterparties, and delay, non-payment, and/or non-performance by our customers could have an adverse effect on our financial condition, results of operations, or cash flows.
- Limitations on our ability to protect our intellectual property rights, including our trade secrets, could cause a loss in revenue and any competitive advantage.
- We may be subject to litigation if another party claims that we have infringed upon such party’s intellectual property rights.
- Environmental compliance costs and liabilities could reduce our earnings and cash available for operations.
- We could be subject to substantial liability claims, which could adversely affect our financial condition, results of operations, and cash flows.
- Demand for our products and services could be reduced by existing and future legislation or regulations.
- Increased attention to climate change, ESG matters and conservation measures by regulators and investors may adversely impact our business.
- Some of our customers require bids for contracts in the form of long-term, fixed pricing contracts that require us to assume additional risks associated with cost over-runs, operating cost inflation, labor availability and productivity, supplier and contractor pricing and performance, and potential claims for liquidated damages.
- Our failure to comply with complex U.S. and foreign laws and regulations could have a material adverse effect on our operations.
- We are subject to sanctions and export control regimes adopted by the U.S. and other jurisdictions.
- Our operations in the Middle East and other countries could require us to incur additional costs in order to comply with U.S., UK and EU sanctions-related regulations restricting or prohibiting activities with certain individuals and entities or in certain jurisdictions.
- We are subject to litigation risks that may not be covered by insurance.
- We may be unable to obtain, maintain or renew permits necessary for our operations, which could inhibit our ability to do business.
- We might require additional equity or debt financing to fund operations and/or future acquisitions.
- As of January 1, 2026, we were no longer a foreign private issuer and we are required to comply with the provisions of the Exchange Act, and the rules of Nasdaq, applicable to U.S. domestic issuers, which will continue to require us to incur significant expenses and expend time and resources.
- RISKS RELATED TO OUR CAPITAL STRUCTURE
- The market price of our ordinary shares may decline.
- If securities or industry analysts do not publish or cease publishing research or reports about us, our business, or our market, or if they change their recommendations regarding our securities adversely, the price and trading volume of our ordinary shares could decline.
- We are a holding company. Our sole material asset is our equity interest in our subsidiaries and we are accordingly dependent upon distributions from them to cover our corporate and other overhead expenses.
- Future sales of our ordinary shares could reduce our stock price, and any additional capital raised by us through the sale of equity or convertible securities may dilute your ownership in us.
- Because we currently have no approved plans to pay cash dividends on our ordinary shares, you may not receive any return on investment unless you sell your ordinary shares for a price greater than what you paid for it.
- Cybersecurity risks and threats could adversely affect our business.
- We depend on our suppliers to provide services and equipment in a timely manner and any delays, interruptions or failures by suppliers could expose us to increased costs or inability to meet contractual obligations.
- We have engaged in related party transactions, the termination of which may inhibit business, and such transactions present possible conflicts of interest that could have an adverse effect on us.
- The loss or unavailability of any of our executive officers or other key employees could have a material adverse effect on our business.
- Our growth potential and ability to operate could be materially and adversely affected if we cannot employ and retain technical personnel at a competitive cost.
- We are not subject to the supervision of the Financial Services Commission of the BVI and so our shareholders are not protected by any regulatory inspections in the BVI.
- Substantially all of our assets are located outside the U.S.; therefore, investors may not be able to enforce U.S. federal securities laws or their other legal rights.
- Investors may face difficulties in protecting their interests, and their ability to protect their rights through the U.S. federal courts may be limited, because we are formed under BVI law.
- Our Memorandum and Articles of Association, as amended and restated, permit the Board of Directors by resolution to create additional classes of securities, including shares with rights, preferences, designations and limitations as they determine which may have an anti-takeover effect.
Legal proceedings
The information with respect to Item 3. Legal Proceedings is contained in Note 13, Commitments and Contingencies, to the consolidated financial statements included in Item 8, “Financial Statements and Supplementary Data,” of this Annual Report.
The opening of Item 3, Legal Proceedings.6
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
- 2Yahoo FinanceNESR quote
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- 14SEC EDGARSherif Foda, Chief executive officer
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- 19SEC EDGARAndrew L. Waite, Board member
- 20SEC EDGARAnthony R. Chase, Board member
- 21SEC EDGARLisa A. Pollina, Board member
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- 23SEC EDGARMaen Razouqi, Board member
- 24SEC EDGARAdnan Ghabris, Board member
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- 26SEC EDGARHala Zeibak, Board member
- 27SEC EDGARMejia Antonio J. Campo, Board member
- 28SEC EDGARChange of auditor
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- 30SEC EDGARExecutive or director change
- 31SEC EDGARRegulation FD disclosure
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- 33SEC EDGARShareholder vote
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- 35NasdaqNasdaq calendar
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