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DNOW vs NOV: revenue, profit, margins and growth compared

DNOW brought in $2.8B of revenue in fiscal 2025, NOV $8.7B in fiscal 2025. Revenue changed by +18.8% at DNOW and -1.4% at NOV on the year before, so DNOW grew faster. DNOW kept -3.2% of its revenue as net profit, NOV 1.7%. Free cash flow was $134M at DNOW and $876M at NOV.

Side by side, latest fiscal year

DNOWNOV
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$2.8B$8.7B
Revenue growth+18.8%-1.4%
Net income-$89M$145M
Net margin-3.2%1.7%
Free cash flow$134M$876M
Free cash flow margin4.8%10.0%
Earnings per share (diluted)-$0.76$0.39
Cash$164M$1.6B
Debt$411M$1.7B
Price to earningsn/a50.9
Market value$2.9B$7.1B
Dividend yieldn/a2.57%
Rank by revenue in sector#300 of 778 · Consumer discretionary#129 of 778 · Consumer discretionary

Over the years

Revenue
DNOW FY2018: $3.1BDNOW FY2019: $3BDNOW FY2020: $1.6BDNOW FY2021: $1.6BDNOW FY2022: $2.1BDNOW FY2023: $2.3BDNOW FY2024: $2.4BDNOW FY2025: $2.8BNOV FY2018: $8.5BNOV FY2019: $8.5BNOV FY2020: $6.1BNOV FY2021: $5.5BNOV FY2022: $7.2BNOV FY2023: $8.6BNOV FY2024: $8.9BNOV FY2025: $8.7BFY18FY19FY20FY21FY22FY23FY24FY25
DNOW $2.8BNOV $8.7B
Net income
DNOW FY2018: $52MDNOW FY2019: -$97MDNOW FY2020: -$427MDNOW FY2021: $5MDNOW FY2022: $128MDNOW FY2023: $250MDNOW FY2024: $78MDNOW FY2025: -$89MNOV FY2018: -$31MNOV FY2019: -$6.1BNOV FY2020: -$2.5BNOV FY2021: -$250MNOV FY2022: $155MNOV FY2023: $993MNOV FY2024: $635MNOV FY2025: $145MFY18FY19FY20FY21FY22FY23FY24FY25
DNOW -$89MNOV $145M
Net margin
DNOW FY2018: 1.7%DNOW FY2019: -3.3%DNOW FY2020: -26.4%DNOW FY2021: 0.3%DNOW FY2022: 6.0%DNOW FY2023: 10.8%DNOW FY2024: 3.3%DNOW FY2025: -3.2%NOV FY2018: -0.4%NOV FY2019: -71.9%NOV FY2020: -41.7%NOV FY2021: -4.5%NOV FY2022: 2.1%NOV FY2023: 11.6%NOV FY2024: 7.2%NOV FY2025: 1.7%FY18FY19FY20FY21FY22FY23FY24FY25
DNOW -3.2%NOV 1.7%
Revenue growth
DNOW FY2019: -5.6%DNOW FY2020: -45.1%DNOW FY2021: +0.8%DNOW FY2022: +30.9%DNOW FY2023: +8.7%DNOW FY2024: +2.2%DNOW FY2025: +18.8%NOV FY2019: +0.3%NOV FY2020: -28.2%NOV FY2021: -9.3%NOV FY2022: +31.0%NOV FY2023: +18.6%NOV FY2024: +3.3%NOV FY2025: -1.4%FY19FY20FY21FY22FY23FY24FY25
DNOW +18.8%NOV -1.4%
Free cash flow
DNOW FY2018: $62MDNOW FY2019: $212MDNOW FY2020: $181MDNOW FY2021: $25MDNOW FY2022: -$9MDNOW FY2023: $171MDNOW FY2024: $289MDNOW FY2025: $134MNOV FY2018: $277MNOV FY2019: $481MNOV FY2020: $700MNOV FY2021: $90MNOV FY2022: -$393MNOV FY2023: -$140MNOV FY2024: $953MNOV FY2025: $876MFY18FY19FY20FY21FY22FY23FY24FY25
DNOW $134MNOV $876M

Fiscal years as each company reports them; the two may end in different months.

Questions about DNOW and NOV

Which is bigger by revenue, DNOW or NOV?

NOV is bigger by revenue: $8.7B in fiscal 2025, against $2.8B for DNOW in fiscal 2025.

Which keeps more of its revenue as profit, DNOW or NOV?

DNOW had a net margin of -3.2% in fiscal 2025; NOV had 1.7% in fiscal 2025.

Which grew revenue faster, DNOW or NOV?

In their latest fiscal years revenue changed by +18.8% at DNOW and -1.4% at NOV.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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