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An announcement from National Energy Services Reunited ( (NESR) ) is now available.
On February 17, 2026, National Energy Services Reunited reported fourth-quarter 2025 revenue of $398.3 million, up 34.9% sequentially and 15.9% year-over-year, with adjusted EBITDA rising 32% sequentially to $84.4 million and adjusted net income more than doubling to $31.9 million. Despite net income dropping to $7.8 million on impairments, credit loss provisions, and restructuring costs tied mainly to Oman and a vendor bankruptcy in Saudi Arabia, the company generated $264.2 million in operating cash flow and $120.8 million in free cash flow for 2025, cut net debt to $185.3 million, and highlighted record revenues, major contract wins including Saudi Arabia’s Jafurah unconventional development, and a strengthened balance sheet as it enters 2026 with multi-year growth momentum across the MENA region.
Management said 2025 marked a year of disciplined execution, strong cash generation, and significant debt reduction, with adjusted EBITDA margins of 21.2% holding broadly flat even as activity accelerated on recently awarded contracts. Executives pointed to countercyclical investments, growing regional awards beyond Saudi Arabia, and a robust backlog as positioning NESR for a “different gear and scale” in 2026, reinforcing its partnership with Aramco and its competitive standing in MENA energy services while signaling a focus on maintaining margins, improving working capital, and enhancing returns on capital for shareholders.
The most recent analyst rating on (NESR) stock is a Buy with a $25.00 price target. To see the full list of analyst forecasts on National Energy Services Reunited stock, see the NESR Stock Forecast page.
Spark’s Take on NESR Stock
According to Spark, TipRanks’ AI Analyst, NESR is a Outperform.
The score is driven primarily by strong financial performance (improving margins, solid cash conversion, and manageable leverage). Technicals support the trend but are tempered by overbought signals. Earnings-call takeaways are net positive due to supportive free cash flow guidance and the major Jafurah contract win, while valuation (P/E 25.48 and no dividend yield provided) is a modest headwind.
To see Spark’s full report on NESR stock, click here.
More about National Energy Services Reunited
National Energy Services Reunited Corp. is a leading integrated energy services provider focused on the Middle East and North Africa, delivering oilfield services and related technologies to support conventional and unconventional operations. The company emphasizes large contract execution, particularly in Saudi Arabia and across the broader MENA region, leveraging infrastructure, equipment, digital capabilities, and a regional workforce to scale efficiently.
Average Trading Volume: 1,069,927
Technical Sentiment Signal: Buy
Current Market Cap: $2.1B
For detailed information about NESR stock, go to TipRanks’ Stock Analysis page.