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NOW Inc. (0K9J) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of NOW Inc. $18.57, price $15.70, upside +18.3%, quality 32 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? No
  3. Add to watchlist

Industrials · GB · Home US

NI Some data Sep 24, 2026

NOW Inc.

0K9J · LSE

SpeculativeUpside exists, but weak quality makes the signal speculative.

✓Fair value $18.57 · Undervalued (+18.3%)
!Quality 32/100
!Mixed Growth (revenue 5y +11.7 %/yr)
!Loss-making · -4.5% net margin (TTM)
✓generates free cash flow
!Mixed vs. peers (6/12)
!Narrow moat 16/100
!Evidence only medium, so the estimate is less certain

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$17.67 $6.96 Fair Value $18.57 Feb 2018 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range $6.96 – $17.67 · fair‑value band $13.04 – $25.51 · the $15.70 price screens below the $18.57 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

DNOW Inc. distributes pipe, valves, fittings, and pumps in the United States, Canada, and internationally.

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DNOW Inc. distributes pipe, valves, fittings, and pumps in the United States, Canada, and internationally. The company offers flanges, gaskets, fasteners, electrical, instrumentation, artificial lift, and pumping systems, process and production equipment, production measurement technology, maintenance, repair and operating consumables (MRO), and general and specialty products; personal protective equipment; and mill, tools, safety supplies, as well as vapor recovery systems under EcoVapo brand. It also offers original equipment manufacturer equipment, including pumps, generator sets, air compressors, dryers, blowers, mixers, and valves; modular oil and gas wellsite facility solutions; and application systems, work processes, parts integration, optimization solutions, and after-sales support services. In addition, the company provides supply chain and materials management; inventory planning; integrated supply; integrated supply; product quality programs; manufacturer assessments; multiple daily deliveries; volume purchasing; truck stocking; technical support; training; just-in-time delivery; and on-site commissioning; after-market field repair and rental mobile pumping units; inventory and zone store management; order consolidation; product tagging and system interfaces tailored; supplier specifications; engineering of control packages; valve inspection and repair; product expediting, tracking and tracing; documentation services; and pressure testing services. It serves customers in the upstream, midstream, and Gas Utilities sectors, as well as downstream and industrial including crude oil refining, petrochemical and chemical processing, general industrials, pharmaceutical, mining, water/wastewater treatment, data centers, liquefied natural gas, and terminals and renewable natural gas facilities. The company was formerly known as NOW Inc. and changed its name to DNOW Inc. in January 2024. DNOW Inc. was founded in 1862 and is headquartered in Houston, Texas.

Stock analysis

NOW Inc. (0K9J) currently trades at $15.70, while our model-based Fair Value estimate is $18.57, implying the stock looks roughly 15.5% undervalued today.

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Valuation

Bull case: the Growth DCF group reads highest at a median of $18.95 per share, and 6 of the 7 models we run sit above the $15.70 price.

Bear case: the Asset-Based group reads lowest at $13.80, and 1 of the 7 models stay below the price. Evidence for this calculation is medium.

Scenario range: $13.04 (bear) to $25.51 (bull), the price of $15.70 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 32/100 (below-average quality), in the Industrials sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

NOW Inc. reported revenue of $2.8B in FY2025 versus $1.6B in FY2021, a compound +14.7%/yr. Reported net income was −$89.0M in FY2025.

Key figures

Market cap $1.9B · P/E ratio 0.4 · EPS (TTM) $0.4070 · Net margin −3.2% · Return on equity −9.4% · Return on assets (EBIT) 5.6% · Operating margin −0.3% · Revenue (TTM) $3.4B.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).

What moves the price

The share trades about 7% below its 52-week high and 42% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Industrials peers we cover trades at −40% fair-value upside, at 18%, 0K9J screens cheaper than that median.

Fair Value models

Bear $13.04 Fair Value $18.57 Bull $25.51
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then ($0.3078 per share) are deliberately not added. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
FCF DCF $14.73 $20.50 $28.49 79
Growth DCF $15.03 $20.31 $27.26 77
Rev-Margin DCF $13.07 $18.95 $25.37 71
All 7 models by family
DCF Models
FCF DCF $14.73 $20.50 $28.49 79
5Y Revenue Exit $13.07 $18.80 $25.86 70
10Y Revenue Exit $13.27 $18.46 $24.90 65
Multiples
EV/Revenue $12.76 $17.58 $22.40 51
Asset-Based
NCAV (Graham) $10.30 $13.80 $20.60 51
Growth DCF
Growth DCF $15.03 $20.31 $27.26 77
Rev-Margin DCF $13.07 $18.95 $25.37 71

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Quality Score breakdown

Overall quality 32/100

Of which business quality 37 · Market factors (momentum, volatility) 59

Profitability 17
Margins and returns on capital today
Quality Growth 16
Are margins and returns improving?
Cashflow 49
Earnings quality: real cash, not paper profit
Fin. Strength 66
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 54
Calm price path (market factor)
Momentum 64
Price trend over the last 3–12 months (market factor)
52W Momentum 58
Distance to the 52-week high (market factor)
Net Issuance 32
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 57/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+18.8%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+9.7%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+11.7%
Start year 2020 (pandemic). Over 10 years: −0.6% a year
Revenue growth 13 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−1.5%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−5.0% (2020) → −2.9% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

Growth Forecast

Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+7.0%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+17.2%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in USD, USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +4.5% a year for the price and +14.5% for the forecasts.
Forecast 2026 (sales)+76.7%
Forecast 2027 (sales)+6.6%
Projected 2028 (sales)+6.0%
Projected 2029 (sales)+5.5%
Projected 2030 (sales)+4.9%

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Peer GroupⓘHow this stock ranks against its sector: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median. (Industry “Trading Companies & Distributors” was too small, so the broader sector is used.)Industrials · 5298 stocks

Beats the sector median on 6/11 measures
A mixed picture versus its sector peers.
Valuation
Quality Score 32 · Bottom 25%
Fair Value upside +18.3% · Above median
Profitability
Return on assets 1.9% · Below median
Net margin (TTM) −4.5% · Bottom 25%
Operating margin (TTM) −0.3% · Bottom 25%
Growth and dividend
Revenue growth 97.5% · Top 25%

Valuation Multiplesvs Industrials median · lower = cheaper

P/E (TTM) 0.4× · Cheapest 25%
P/B 0.83× · Cheaper than median
P/S (TTM) 0.54× · Cheaper than median
P/FCF 13.8× · Cheaper than median
EV/EBITDA 11.5× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)58 · sector 17
FUTURE (revenue growth)100 · sector 36
PAST (return on equity)0 · sector 29
HEALTH (low debt)0 · sector 94
DIVIDEND (yield)0 · sector 37

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

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Adani Ports and Special Economic Zone Limited ADANIPORTS ₹1,738 ₹1,041 −40%
Hanwha Aerospace Co 012450 1,021,000 KRW 678,284 KRW −34%
ASELSAN Elektronik Sanayi ve Ticaret Anonim Sirketi ASELS 372.25 TRY 63.11 TRY −83%
HD Hyundai Heavy Industries Co 329180 441,000 KRW 485,100 KRW +10%

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Cite: Fair Value Calculator (2026). "NOW Inc. Fair Value". https://www.fairvalue-calculator.com/stock/0K9J

Frequently asked questions

Is NOW Inc. (0K9J) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $18.57 versus a price of $15.70, about +18% upside (undervalued).
What is the fair value of 0K9J?
Our model-based fair value for NOW Inc. is $18.57 (as of Sep 24, 2026), built from audited fundamentals. The current price: $15.70.
What is the quality score of 0K9J?
NOW Inc. has a Quality Score of 32/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for NOW Inc. (0K9J)?
Our model-based price target is the fair value of $18.57 (as of Sep 24, 2026) from 7 valuation models. Cautious scenario $13.04, optimistic scenario $25.51. It is a calculation from audited fundamentals, not an analyst target.
What is the NOW Inc. stock forecast for 2026?
Our models put fair value at $18.57, about +18% upside versus a price of $15.70 (undervalued). Cautious scenario $13.04, optimistic scenario $25.51. The calculation is refreshed regularly with new filings.
What is the revenue of NOW Inc. (0K9J)?
NOW Inc. reported trailing-twelve-month revenue of about $3.4B (latest available figure, as of Sep 24, 2026).
What growth is priced into NOW Inc. (0K9J)?
For today's price to be fair in a discounted-cash-flow model, NOW Inc. would have to grow free cash flow by +7.0 % per year for five years (discount rate 9.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +11.7 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 0K9J use?
Our models discount NOW Inc. at 9.9 %: a base by market capitalisation (unknown), damped by beta 0.83, country premium for United Kingdom. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For NOW Inc. that is +7.0 % per year a year over ten years, using the same discount rate (9.9 %) and the same formula as our fair value.
How much growth has NOW Inc. (0K9J) delivered so far?
Over the past 5 years revenue at NOW Inc. grew +11.7 % a year. The price currently implies +7.0 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of NOW Inc. (0K9J) growing?
The median revenue growth in the sector is +7.2 % a year. That is the yardstick for the growth priced into NOW Inc. (+7.0 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of NOW Inc. (0K9J)?
The free-cash-flow yield on the price is 5.46 %: that much free cash flow NOW Inc. produces per unit of market value. When it exceeds the discount rate of our models (9.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of NOW Inc. (0K9J)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For NOW Inc. it is $18.57 per share (as of Sep 24, 2026), against a price of $15.70. It is the blended result of 7 valuation models (cash flow, earnings, asset, dividend).
Is NOW Inc. stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 0K9J trades below its calculated fair value: price $15.70, fair value $18.57, a gap of about +18% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 0K9J?
No. The price is what the market pays today ($15.70); the fair value is what the company's own numbers justify ($18.57). For NOW Inc. the two are $2.87 per share apart. That gap is exactly why we show both numbers side by side.
How much is NOW Inc. worth?
The market values NOW Inc. at about $1.9B (market capitalisation, as of Sep 24, 2026). Per share that is $15.70; our models calculate a fair value of $18.57 per share.
What do the bullish and bearish scenarios say about 0K9J?
Our models span a range for NOW Inc.: cautious scenario $13.04, base $18.57, optimistic $25.51 per share (as of Sep 24, 2026, price $15.70). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 0K9J?
NOW Inc. trades at a price-to-earnings ratio of 0.4 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $18.57 is built from several models across several years. Other multiples: P/B 0.8, P/S 0.5, EV/EBITDA 11.5.
How solid is the balance sheet of NOW Inc. (0K9J)?
Balance-sheet figures for NOW Inc. (as of Sep 24, 2026): return on equity −9.4%. They feed the Quality Score of 32/100, which measures business quality independently of the share price.
How far is 0K9J from its 52-week high?
NOW Inc. trades at $15.70, about 7% below its 52-week high of $16.91 and 42% above the low of $11.05 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of $18.57 is for.
Which stocks are comparable to NOW Inc.?
From the same area (Industrials) we also value 534755, SCTL, Contemporary Amperex Technology Co, Delta Electronics (Thailand) Public Company, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is NOW Inc. stock attractive at the current price?
The data as of Sep 24, 2026: price $15.70, calculated fair value $18.57 (+18%), Quality Score 32/100, from 7 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 0K9J calculated?
We run NOW Inc. through 7 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $18.57, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. NOW Inc. currently trades 15 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of NOW Inc. (0K9J)?
The closing price on Oct 2, 2026 was $15.70. Our model-based fair value is $18.57, about +18% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with NOW Inc. right now?
A fairly wide model range ($13.04 to $25.51) leaves room in how you read the outcome. The price sits in the lower half of our model range, the side with the larger margin of safety. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.

Key figures of NOW Inc.

How large is the market capitalisation of NOW Inc. (0K9J)?
The market capitalisation of NOW Inc. is $1.9B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What are the earnings per share of NOW Inc. (0K9J)?
Earnings per share at NOW Inc. are $0.4070 (price ÷ EPS = P/E 0.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of NOW Inc. (0K9J)?
The net margin of NOW Inc. is −3.2% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of NOW Inc. (0K9J)?
The return on equity (ROE) of NOW Inc. is −9.4% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of NOW Inc. (0K9J)?
On an EBIT basis the return on assets of NOW Inc. is 5.6% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of NOW Inc. (0K9J)?
The operating margin of NOW Inc. is −0.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at NOW Inc. (0K9J)?
Revenue at NOW Inc. is growing +97.5% versus a year earlier (3y avg +9.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at NOW Inc. (0K9J)?
Earnings per share at NOW Inc. are growing +90.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does NOW Inc. (0K9J) carry?
The net debt of NOW Inc. is $376M (fiscal year 2025, ≈ 2.8 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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