NOV Inc. (NOV)
Net profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 993,000 | 155,000 | -250,000 | -2,542,000 | -6,095,000 |
| Revenue | US$ in thousands | 8,583,000 | 7,237,000 | 5,524,000 | 6,090,000 | 8,479,000 |
| Net profit margin | 11.57% | 2.14% | -4.53% | -41.74% | -71.88% |
December 31, 2023 calculation
Net profit margin = Net income ÷ Revenue
= $993,000K ÷ $8,583,000K
= 11.57%
The net profit margin of NOV Inc has shown a significant improvement over the past five years. The company posted a negative net profit margin in 2019 and 2020, indicating that the company was experiencing losses in those years. However, starting in 2021, NOV Inc turned its performance around and achieved positive net profit margins.
The net profit margin jumped to -4.53% in 2021, indicating a reduction in losses, and further increased to 2.14% in 2022, signaling a return to profitability. The most recent data for 2023 shows a substantial improvement in the net profit margin to 11.57%, which reflects a significant increase in profitability for NOV Inc.
Overall, the consistent improvement in the net profit margin of NOV Inc over the past few years is a positive indicator of the company's financial performance and its ability to effectively control costs and increase profits.
Peer comparison
Dec 31, 2023