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Nabors Industries Ltd. (NBR) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of Nabors Industries Ltd. $200, price $83.02, upside +140.5%, quality 41 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
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Energy · US · ISIN BMG6359F1370

NI Nabors Industries Ltd. logo Some data Sep 23, 2026

Nabors Industries Ltd.

NBR · US

Cheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.

✓Fair value $199.67 · Strongly undervalued (+141%)
!Quality 41/100
!Expensive Growth (revenue 5y +8.3 %/yr)
!Thin margins · 7.7% net margin (TTM)
!High debt · negative free cash flow
!Mixed vs. peers (7/13)
!Narrow moat 41/100
!Evidence only medium, so the estimate is less certain
!Weak on dividend: 9 out of 100
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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

Price vs Fair Value

$200.02 $24.60 Fair Value $199.67 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.

How to read this chart

60‑month range $24.60 – $200.02 · fair‑value band $130.65 – $249.59 · the $83.02 price screens below the $199.67 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 23, 2026.

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Company profile

Nabors Industries Ltd. provides drilling and drilling-related services for land-based and offshore oil and natural gas wells in the United States and internationally. The company operates through four segments: U.S. Drilling, International Drilling, Drilling Solutions, and Rig Technologies.

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Nabors Industries Ltd. provides drilling and drilling-related services for land-based and offshore oil and natural gas wells in the United States and internationally. The company operates through four segments: U.S. Drilling, International Drilling, Drilling Solutions, and Rig Technologies. The company offers tubular running services, including casing and tubing running, and torque monitoring; managed pressure drilling services; and drilling-bit steering systems and rig instrumentation software. The company also offers drilling systems comprising ROCKit, a directional steering control system; SmartNAV, a collaborative guidance and advisory platform; SmartSLIDE, a directional steering control system; and RigCLOUD, a digital infrastructure that integrate applications to deliver real-time insight into operations across the rig fleet. In addition, it operates a fleet of land-based drilling rigs and marketed platforms rigs; manufactures and sells top drives, catwalks, wrenches, drawworks, and other drilling related equipment, such as robotic systems and downhole tools; and provides aftermarket sales and services for the installed base of its equipment. Nabors Industries Ltd. was founded in 1952 and is based in Hamilton, Bermuda.

Stock analysis

Nabors Industries Ltd. (NBR) currently trades at $83.02, while our model-based Fair Value estimate is $199.67, implying the stock looks roughly 58.4% undervalued today.

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Valuation

Bull case: the Growth Earnings group reads highest at a median of $209.14 per share, and 11 of the 15 models we run sit above the $83.02 price.

Bear case: the Asset-Based group reads lowest at $26.74, and 4 of the 15 models stay below the price. Evidence for this calculation is medium.

Scenario range: $130.65 (bear) to $249.59 (bull), the price of $83.02 sits below 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 41/100 (below-average quality), in the Energy sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Nabors Industries Ltd. reported revenue of $3.2B in FY2025 versus $2.0B in FY2021, a compound +12.1%/yr. Reported net income was $248M in FY2025.

Key figures

Market cap $1.3B · P/E ratio 6.1 · P/S ratio 0.47 · EPS (TTM) $13.67 · Dividend yield 0.5% · Net margin 7.8% · Return on equity 22.3% · Return on assets (EBIT) 10.4%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (medium confidence).

What moves the price

The share trades about 25% below its 52-week high and 124% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Energy peers we cover trades at −11% fair-value upside, at 141%, NBR screens cheaper than that median.

Fair Value models

Bear $130.65 Fair Value $199.67 Bull $249.59
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 ($11.93 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. 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
Owner Earnings $111.11 $208.68 $344.69 74
EPV n/a $1.42 $9.51 68
ROIC Compounder n/a $1.42 $9.51 68
All 15 models by family
DCF Models
Owner Earnings $111.11 $208.68 $344.69 74
Earnings-Based
Graham-Dodd $114.10 $410.17 $552.80 64
Lynch FV $96.90 $138.43 $179.96 61
PEG = 1.0 $96.90 $138.43 $179.96 57
EPV n/a $1.42 $9.51 68
Multiples
P/E Multiple $176.19 $234.91 $293.64 63
P/S Multiple $193.66 $258.22 $322.77 58
P/B Multiple $53.88 $71.84 $89.81 55
EV/EBIT $54.00 $98.50 $143.00 63
EV/EBITDA $198.01 $290.51 $383.01 66
EV/Revenue $82.48 $151.90 $221.32 52
Asset-Based
NCAV (Graham) $19.96 $26.74 $39.91 54
Economic Profit
Residual Income $109.28 $163.39 $1,694 64
ROIC Compounder n/a $1.42 $9.51 68
Growth Earnings
Growth-Adj P/E $146.40 $209.14 $271.88 67

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Quality Score breakdown

Overall quality 41/100

Of which business quality 40 · Market factors (momentum, volatility) 59

Profitability 50
Margins and returns on capital today
Quality Growth 72
Are margins and returns improving?
Cashflow 48
Earnings quality: real cash, not paper profit
Fin. Strength 16
Balance sheet, leverage, solvency risk
Investment 66
Disciplined investing over empire-building
Low Volatility 37
Calm price path (market factor)
Momentum 62
Price trend over the last 3–12 months (market factor)
52W Momentum 81
Distance to the 52-week high (market factor)
Net Issuance 0
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. 44/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+8.7%
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.
+6.3%
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.
+8.3%
Start year 2020 (pandemic). Over 10 years: −1.9% a year
Revenue growth 40 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.
+9.3%
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.
26.1% (2020) → 8.3% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no profitable base year
not computed

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Oil & Gas Drilling · 33 stocks

Beats the industry median on 7/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 41 · Below median
Fair Value upside +139% · Top 25%
Profitability
Return on equity (TTM) 22% · Top 25%
Return on assets 3% · Above median
Net margin (TTM) 8% · Above median
Operating margin (TTM) 8% · Below median
Growth and dividend
Revenue growth −2% · Below median
Dividend yield (TTM) 0.5% · Bottom 25%
Balance sheet
Debt / equity 3.58× · Highest 25%

Valuation Multiplesvs Oil & Gas Drilling median · lower = cheaper

P/E (TTM) 6.1× · Cheapest 25%
P/B 2.25× · Priciest 25%
P/S (TTM) 0.41× · Cheapest 25%
EV/EBITDA 2.8× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 25
FUTURE (revenue growth)0 · sector 0
PAST (return on equity)89 · sector 20
HEALTH (low debt)0 · sector 81
DIVIDEND (yield)9 · sector 32

Context: sector, industry, market

Values & ESG

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

Oil & gas

Similar stocks

10 more Oil & Gas Drilling stocks, each showing price versus our Fair Value estimate.

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Noble Corporation NE $45.04 $46.18 +3%
Sinopec Oilfield Service Corporation 600871 ¥2.19 ¥0.5200 −76%
Transocean Ltd RIG $5.49 $4.88 −11%
Valaris Limited VAL $82.72 $58.91 −29%
Patterson-UTI Energy, Inc PTEN $11.14 $22.36 +101%
Helmerich & Payne, Inc HP $39.79 $22.68 −43%
Seadrill Limited SDRL $46.85 $10.17 −78%
Borr Drilling Limited BORR kr 41.38 kr 56.58 +37%
Constellation Oil Services Holding COSH kr 139.00 kr 172.97 +24%
Precision Drilling Corporation PDS $83.33 $46.01 −45%

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Nabors Industries Ltd. · Fair Value
$199.67 +58%Fair Value
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Cite: Fair Value Calculator (2026). "Nabors Industries Ltd. Fair Value". https://www.fairvalue-calculator.com/stock/NBR

Frequently asked questions

Is Nabors Industries Ltd. (NBR) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of $199.67 versus a price of $83.02, about +141% upside (undervalued).
What is the fair value of NBR?
Our model-based fair value for Nabors Industries Ltd. is $199.67 (as of Sep 23, 2026), built from audited fundamentals. The current price: $83.02.
What is the quality score of NBR?
Nabors Industries Ltd. has a Quality Score of 41/100. 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 Nabors Industries Ltd. (NBR)?
Our model-based price target is the fair value of $199.67 (as of Sep 23, 2026) from 15 valuation models. Cautious scenario $130.65, optimistic scenario $249.59. It is a calculation from audited fundamentals, not an analyst target.
What is the Nabors Industries Ltd. stock forecast for 2026?
Our models put fair value at $199.67, about +141% upside versus a price of $83.02 (undervalued). Cautious scenario $130.65, optimistic scenario $249.59. The calculation is refreshed regularly with new filings.
What is the revenue of Nabors Industries Ltd. (NBR)?
Nabors Industries Ltd. reported trailing-twelve-month revenue of about $3.2B (latest available figure, as of Sep 23, 2026).
Does Nabors Industries Ltd. pay a dividend?
Nabors Industries Ltd. currently shows a dividend yield of about 0.46% relative to its recent price (as of Sep 23, 2026).
What is the intrinsic value of Nabors Industries Ltd. (NBR)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Nabors Industries Ltd. it is $199.67 per share (as of Sep 23, 2026), against a price of $83.02. It is the blended result of 15 valuation models (cash flow, earnings, asset, dividend).
Is Nabors Industries Ltd. stock overvalued or undervalued in 2026?
As of Sep 23, 2026, NBR trades below its calculated fair value: price $83.02, fair value $199.67, a gap of about +141% (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 NBR?
No. The price is what the market pays today ($83.02); the fair value is what the company's own numbers justify ($199.67). For Nabors Industries Ltd. the two are $116.65 per share apart. That gap is exactly why we show both numbers side by side.
How much is Nabors Industries Ltd. worth?
The market values Nabors Industries Ltd. at about $1.3B (market capitalisation, as of Sep 23, 2026). Per share that is $83.02; our models calculate a fair value of $199.67 per share.
What do the bullish and bearish scenarios say about NBR?
Our models span a range for Nabors Industries Ltd.: cautious scenario $130.65, base $199.67, optimistic $249.59 per share (as of Sep 23, 2026, price $83.02). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of NBR?
Nabors Industries Ltd. trades at a price-to-earnings ratio of 6.1 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $199.67 is built from several models across several years. Other multiples: PEG 2.9, P/B 2.3, P/S 0.4, EV/EBITDA 2.8.
What is the PEG ratio of NBR?
The PEG ratio of Nabors Industries Ltd. is 2.90 (P/E divided by earnings growth, as of Sep 23, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Nabors Industries Ltd. (NBR)?
Balance-sheet figures for Nabors Industries Ltd. (as of Sep 23, 2026): return on equity 22.3%, debt of 3.58 per unit of equity. They feed the Quality Score of 41/100, which measures business quality independently of the share price.
How far is NBR from its 52-week high?
Nabors Industries Ltd. trades at $83.02, about 25% below its 52-week high of $110.63 and 124% above the low of $36.99 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of $199.67 is for.
Which stocks are comparable to Nabors Industries Ltd.?
From the same area (Energy) we also value Noble Corporation, Sinopec Oilfield Service Corporation, Transocean Ltd, Valaris Limited, 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 Nabors Industries Ltd. stock attractive at the current price?
The data as of Sep 23, 2026: price $83.02, calculated fair value $199.67 (+141%), Quality Score 41/100, from 15 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 NBR calculated?
We run Nabors Industries Ltd. through 15 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 $199.67, 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 14.1 % above its aggregate fair value. Nabors Industries Ltd. currently trades 141 % 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 Nabors Industries Ltd. (NBR)?
The closing price on Sep 23, 2026 was $83.02. Our model-based fair value is $199.67, about +141% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Nabors Industries Ltd. right now?
The large discount to fair value meets weak quality (41/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case ($130.65). The market is more pessimistic than our downside scenario. A fairly wide model range ($130.65 to $249.59) leaves room in how you read the outcome.

Key figures of Nabors Industries Ltd.

How large is the market capitalisation of Nabors Industries Ltd. (NBR)?
The market capitalisation of Nabors Industries Ltd. is $1.3B. 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 is the P/S ratio of Nabors Industries Ltd. (NBR)?
The price-to-sales ratio of Nabors Industries Ltd. is 0.47 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Nabors Industries Ltd. (NBR)?
Earnings per share at Nabors Industries Ltd. are $13.67 (price ÷ EPS = P/E 6.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Nabors Industries Ltd. (NBR)?
The dividend yield of Nabors Industries Ltd. is 0.5% (payout 2.8%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Nabors Industries Ltd. (NBR)?
The net margin of Nabors Industries Ltd. is 7.8% (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 Nabors Industries Ltd. (NBR)?
The return on equity (ROE) of Nabors Industries Ltd. is 22.3% (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 Nabors Industries Ltd. (NBR)?
On an EBIT basis the return on assets of Nabors Industries Ltd. is 10.4% (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 Nabors Industries Ltd. (NBR)?
The operating margin of Nabors Industries Ltd. is 6.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Nabors Industries Ltd. (NBR)?
Revenue at Nabors Industries Ltd. is growing +6.4% versus a year earlier (3y avg +6.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Nabors Industries Ltd. (NBR) generate?
The free cash flow of Nabors Industries Ltd. is −$22.7M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Nabors Industries Ltd. (NBR) carry?
The net debt of Nabors Industries Ltd. is $1.6B (fiscal year 2025). 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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