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National Energy Services Reunited vs Oceaneering International: revenue, profit, margins and growth compared

National Energy Services Reunited brought in $1.3B of revenue in fiscal 2025, Oceaneering International $2.8B in fiscal 2025. Revenue changed by +1.7% at National Energy Services Reunited and +4.6% at Oceaneering International on the year before, so Oceaneering International grew faster. National Energy Services Reunited kept 3.9% of its revenue as net profit, Oceaneering International 12.7%. Free cash flow was $120.8M at National Energy Services Reunited and $207.8M at Oceaneering International.

Side by side, latest fiscal year

NESROII
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$1.3B$2.8B
Revenue growth+1.7%+4.6%
Net income$51.1M$353.8M
Net margin3.9%12.7%
Free cash flow$120.8M$207.8M
Free cash flow margin9.1%7.5%
Earnings per share (diluted)$0.52$3.49
Cash$124.8M$688.9M
Debt$255.9M$487.4M
Price to earnings61.813.3
Market value$3.2B$4.6B
Dividend yieldn/an/a
Rank by revenue in sector#71 of 129 · Energy#48 of 129 · Energy

Over the years

Revenue
NESR FY2020: $834.2MNESR FY2022: $876.7MNESR FY2022: $909.5MNESR FY2023: $1.1BNESR FY2024: $1.3BNESR FY2025: $1.3BOII FY2018: $1.9BOII FY2019: $2BOII FY2020: $1.8BOII FY2021: $1.9BOII FY2022: $2.1BOII FY2023: $2.4BOII FY2024: $2.7BOII FY2025: $2.8BFY18FY19FY20FY21FY22FY23FY24FY25
NESR $1.3BOII $2.8B
Net income
NESR FY2017: $28.4MNESR FY2019: $39.4MNESR FY2020: $16.6MNESR FY2022: -$64.6MNESR FY2022: -$36.4MNESR FY2023: $12.6MNESR FY2024: $76.3MNESR FY2025: $51.1MOII FY2018: -$212.3MOII FY2019: -$348.4MOII FY2020: -$496.8MOII FY2021: -$49.3MOII FY2022: $25.9MOII FY2023: $97.4MOII FY2024: $147.5MOII FY2025: $353.8MFY17FY18FY19FY20FY21FY22FY23FY24FY25
NESR $51.1MOII $353.8M
Net margin
NESR FY2020: 2.0%NESR FY2022: -7.4%NESR FY2022: -4.0%NESR FY2023: 1.1%NESR FY2024: 5.9%NESR FY2025: 3.9%OII FY2018: -11.1%OII FY2019: -17.0%OII FY2020: -27.2%OII FY2021: -2.6%OII FY2022: 1.3%OII FY2023: 4.0%OII FY2024: 5.5%OII FY2025: 12.7%FY18FY19FY20FY21FY22FY23FY24FY25
NESR 3.9%OII 12.7%
Revenue growth
NESR FY2022: +5.1%NESR FY2022: +3.7%NESR FY2023: +26.0%NESR FY2024: +13.6%NESR FY2025: +1.7%OII FY2019: +7.3%OII FY2020: -10.8%OII FY2021: +2.3%OII FY2022: +10.5%OII FY2023: +17.4%OII FY2024: +9.8%OII FY2025: +4.6%FY19FY20FY21FY22FY23FY24FY25
NESR +1.7%OII +4.6%
Free cash flow
NESR FY2022: $20.7MNESR FY2022: -$29.8MNESR FY2023: $108.8MNESR FY2024: $124.2MNESR FY2025: $120.8MOII FY2018: -$72.9MOII FY2019: $9.9MOII FY2020: $76MOII FY2021: $175.1MOII FY2022: $39.8MOII FY2023: $109.2MOII FY2024: $96.1MOII FY2025: $207.8MFY18FY19FY20FY21FY22FY23FY24FY25
NESR $120.8MOII $207.8M

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

Questions about National Energy Services Reunited and Oceaneering International

Which is bigger by revenue, National Energy Services Reunited or Oceaneering International?

Oceaneering International is bigger by revenue: $2.8B in fiscal 2025, against $1.3B for National Energy Services Reunited in fiscal 2025.

Which keeps more of its revenue as profit, National Energy Services Reunited or Oceaneering International?

National Energy Services Reunited had a net margin of 3.9% in fiscal 2025; Oceaneering International had 12.7% in fiscal 2025.

Which grew revenue faster, National Energy Services Reunited or Oceaneering International?

In their latest fiscal years revenue changed by +1.7% at National Energy Services Reunited and +4.6% at Oceaneering International.

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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