National Energy Services Reunited Corp (NESR) Fair Value & Analysis

Energy · US · Market cap $2.9B

Below-average quality, and screening another 70% overvalued on our models.

What matters now

• The price sits above even our optimistic bull case ($10.77). The favourable scenario is already priced in.
• Solid but not exceptional quality (48/100) and above fair value, neither a clear bargain nor a standout compounder.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

60‑month range $2.65 – $29.93 · fair‑value band $6.46 – $10.77 · the $29.02 price screens above the $8.62 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

National Energy Services Reunited Corp (NESR) currently trades at $29.02, while our model-based Fair Value estimate is $8.62, implying the stock looks roughly 70.3% overvalued today. The Quality Score stands at 48/100 (below-average quality), in the Energy sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, National Energy Services Reunited Corp generated revenue of $1.4B at a net margin of 4.5%. Revenue grew 33.5% year over year. It earns a return on equity of 6.7%. Net debt stands at $225M. Fundamentals as of Jul 16, 2026

Our scenario range runs from $6.46 (bear case) to $10.77 (bull case); at $29.02, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high, currently above its 200-day average. For context, the median of 10 Energy peers we cover trades at -36% fair-value upside, at -70%, NESR screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Widest divergence: DCF Models ($17.79) versus Asset-Based ($6.43). Highest evidence: Growth DCF (80).

Key figures & financial health

Quality Score breakdown

About the company

National Energy Services Reunited Corp. provides oilfield services in the Middle East and North Africa. The company's Production Services segment offers hydraulic fracturing services; coiled tubing services, including nitrogen lifting, fishing, milling, clean-out, scale removal, and other well applications; stimulation and pumping services; primary and …

Full company description

National Energy Services Reunited Corp. provides oilfield services in the Middle East and North Africa. The company's Production Services segment offers hydraulic fracturing services; coiled tubing services, including nitrogen lifting, fishing, milling, clean-out, scale removal, and other well applications; stimulation and pumping services; primary and remedial cementing services; nitrogen services; filtration services, as well as frac tanks and pumping units; and pipeline and industrial services, such as water filling and hydro testing, nitrogen purging, and de-gassing and pressure testing, as well as cutting/welding and cooling down piping/vessels systems. This segment also provides production assurance chemicals; integrated production management projects; artificial lift services; and surface and subsurface safety systems, high-pressure packer systems, flow controls, service tools, expandable liner technology, vacuum insulated tubing technology for steam applications, and engineering capabilities with manufacturing capacity and testing facilities, as well as sources and treats water for oil and gas, municipal, and industrial use. The Drilling and Evaluation Services segment offers drilling and workover rigs; rigs and integrated services; fishing and remediation solutions; directional and turbines drilling; drilling fluid systems and related technologies; wireline logging; slickline services, descaling, wax and sand cleanout, plug setting, gas lift valve changeout, fishing and other complex well applications; and well testing services to measure solids, gas, and oil and water produced from well, as well as drilling tools and machine shop services. This segment also provides oilfield solutions for thru-tubing intervention; tubular running services; and a range of wellhead products, flow control equipment, and frac equipment. National Energy Services Reunited Corp. was incorporated in 2017 and is headquartered in Houston, Texas.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

National Energy Services Reunited Corp reported revenue of $1.3B in FY2025 versus $877M in FY2021, a compound +10.9%/yr. Reported net income was $51.1M in FY2025.

NESR screens 70% overvalued. Compare with SLB N.V →

Peer Group

Oil & Gas Equipment & Services · 191 stocks

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.

Valuation Multiples vs Oil & Gas Equipment & Services median · lower = cheaper

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0: the price sits above our fair-value range.

Values & ESG

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.