NOV Inc. (NOV)
Net profit margin
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 635,000 | 993,000 | 155,000 | -245,000 | -2,537,000 |
| Revenue | US$ in thousands | 8,870,000 | 8,583,000 | 7,237,000 | 5,524,000 | 6,090,000 |
| Net profit margin | 7.16% | 11.57% | 2.14% | -4.44% | -41.66% |
December 31, 2024 calculation
Net profit margin = Net income ÷ Revenue
= $635,000K ÷ $8,870,000K
= 7.16%
The net profit margin of NOV Inc. has shown a significant improvement over the past years, based on the provided data. From a negative margin of -41.66% on December 31, 2020, the company managed to reduce its losses to -4.44% by the end of 2021. This indicates a positive trend in controlling costs and increasing profitability.
By December 31, 2022, NOV Inc. was able to turn its net profit margin into a positive territory at 2.14%, further enhancing its financial performance. The company continued to strengthen its profitability in the following years, reaching a net profit margin of 11.57% as of December 31, 2023, and maintaining a healthy margin of 7.16% by the end of 2024.
The steady improvement in the net profit margin reflects NOV Inc.'s efforts to enhance operational efficiency, manage expenses effectively, and increase revenue generation. These positive trends indicate a healthier financial position and suggest that the company is making sound strategic decisions to drive profitability and sustainable growth.
Peer comparison
Dec 31, 2024