Key Takeaways Heavy reliance on traditional oil and gas exposes NOV to declining demand, revenue instability, and intensified competition amid industry transition and consolidation. Failure to diversify leaves NOV vulnerable to technological disruption, increasing ESG pressures, and rising capital costs, threatening profitability and long-term viability.
Key Takeaways Offshore energy expansion and global resource development are set to boost NOV's technology sales, supporting broad-based revenue and market share growth. Focus on automation, digital solutions, and cost optimizations is expected to drive sustained profitability and higher recurring earnings.
Key Takeaways Rapid digital adoption and offshore energy investments could drive significant margin expansion, recurring revenues, and outsized earnings growth beyond current expectations. Strategic moves in renewables, restructuring, and international markets position NOV for resilient top-line growth and long-term market leadership.
NOV Inc. designs, constructs, manufactures, and sells systems, components, and products for oil and gas drilling and production, and industrial and renewable energy sectors in the United States and internationally. It operates in two segments, Energy Equipment, and Energy Products and Services. The company provides solids control and waste management equipment and services; managed pressure drilling, wired drill pipe, and tubular inspection and coating services; precision-engineered drill pipe and drill-stem equipment; integral thread solutions; and integral and weld-on connectors, drilling fluids, completion and downhole tools, and drill bits, as well as data and digital solutions. It also offers equipment and technologies for hydraulic fracture stimulation, including pressure pumping trucks, blenders, sanders, hydration and injection units, flowline, and manifolds; coiled tubing units, coiled tubing, and wireline units and tools; onshore production that consists of fluid processing, surface transfer, and progressive cavity pumps; artificial lift systems; offshore production, such as integrated production systems and subsea production technologies; and industrial pumps and mixers. In addition, the company provides equipment for wind turbine installation and cable lay vessels; heavy lift cranes and jacking systems; equipment and technologies for drilling, including land rigs, offshore drilling equipment packages, drilling rig components, and software control systems; marine and industrial equipment; cementing products for pumping, mixing, transport, and storage; integrated processing solutions for the separation and treatment of oil, gas, solids, seawater, and produced water production; and aftermarket support, rental, service, and repair solutions, as well as spare parts. The company was formerly known as National Oilwell Varco, Inc. and changed its name to NOV Inc. in January 2021. NOV Inc. was founded in 1862 and is based in Houston, Texas.
