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Nine Energy Service, Inc.
(NINE)
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Rating:50Neutral
Price Target:
$11.50
▼(-0.43% Downside)
Action:Reiterated
Date:08/22/26
Overall score reflects financial risk from negative operating and free cash flow despite improved reported earnings, partially offset by a meaningfully repaired balance sheet. Earnings call signals continued near-term pressure (EBITDA miss and slightly lower Q3 outlook) despite operational wins in higher-margin lines. Technicals are mildly supportive but not strong, while valuation is a positive factor due to the very low P/E.
Positive Factors
Completion Tools Growth
Strong completion-tools volume and international growth indicate product adoption and potential share gains. Expanding technology-led offerings can diversify Nine’s revenue beyond domestic completion cycles over the next several quarters.
Negative Factors
Unsustainable Cash Generation
Negative operating and free cash flow shows that reported profitability is not yet converting into internally generated funds. Continued cash leakage could limit reinvestment, increase reliance on borrowing, and weaken resilience during a cyclical downturn.
Read all positive and negative factors
Positive Factors
Negative Factors
Completion Tools Growth
Strong completion-tools volume and international growth indicate product adoption and potential share gains. Expanding technology-led offerings can diversify Nine’s revenue beyond domestic completion cycles over the next several quarters.
Read all positive factors
Nine Energy Service, Inc. (NINE) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$455.29K
Dividend YieldN/A
Average Volume (3M)N/A
Price to Earnings (P/E)1.7
Beta (1Y)-1.54
Revenue Growth-7.15%
EPS GrowthN/A
CountryUS
Employees1,072
SectorGeneral
Sector StrengthN/A
IndustryOil & Gas Equipment & Services
Share Statistics
EPS (TTM)6.50
Shares Outstanding13,949,990
10 Day Avg. VolumeN/A
30 Day Avg. VolumeN/A
Financial Highlights & Ratios
PEG Ratio0.00
Price to Book (P/B)-2.92
Price to Sales (P/S)0.60
P/FCF Ratio-14.43
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)4.98
Revenue Forecast (FY)$561.40M
Nine Energy Service, Inc. Business Overview & Revenue Model
Company Description
Nine Energy Service, Inc., headquartered in Houston, Texas, is a provider of onshore well completion solutions. The company primarily caters to the development of unconventional oil and gas resources throughout North American basins and globally. ...
How the Company Makes Money
Nine Energy Service generates revenue primarily by providing oilfield services and selling completion-related products to oil and natural gas producers (E&P companies) on a per-job and/or per-unit basis tied to drilling and completion activity. Ke...
Nine Energy Service, Inc. Earnings Call Summary
Earnings Call Date:Jun 30, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 29, 2026
Earnings Call Sentiment Neutral
The call presented a mix of encouraging operational wins (notably strong completion tools growth, cementing activity expansion, product commercialization and reasonable liquidity) alongside meaningful near-term challenges (an adjusted EBITDA miss, significant coiled tubing fleet disruptions representing ~17% of large-diameter capacity, inflation-driven margin compression, modest cash used in operations and elevated borrowings). Management expects Q3 to be flat to modestly down and is focused on cost control and execution while preserving key skilled crews and pursuing technology-led growth.Positive Updates
Revenue In Line with Guidance
Q2 revenue of $141.8M was within original guidance, demonstrating topline stability quarter-over-quarter.
Negative Updates
Adjusted EBITDA Miss
Adjusted EBITDA of $8.6M was below original guidance, reflecting margin pressure across service lines in Q2.
Read all updates
Q2-2026 Updates
Positive
Negative
Revenue In Line with Guidance
Q2 revenue of $141.8M was within original guidance, demonstrating topline stability quarter-over-quarter.
Read all positive updates
Company Guidance
Guidance for Q3 calls for revenue of $133 million to $143 million and management expects Q3 revenue and adjusted EBITDA to be flat to modestly down versus Q2 (Q2 revenue $141.8M; adjusted EBITDA $8.6M; adjusted gross profit $19.9M), driven largely by one large‑diameter coiled‑tubing unit remaining under repair and cost inflation; CT days worked rose ~16% in Q2 while blended day rates fell ~15%, CT revenue was down ~2% to $26.4M and CT consumables/labor/repairs increased ~12% QoQ, with one unit returned early Q3 and the second expected near year‑end. Management expects average U.S. rig count in Q3 to be relatively flat to slightly up versus Q2 (rigs: end Q1 543, end Q2 573) and noted pricing power typically improves as rig counts approach ~600. Liquidity at June 30 was $16.8M cash plus $30M ABL availability (total liquidity $46.8M) with $97.3M drawn at ~7% interest; Q2 net cash used in operations was $2.3M, average DSO 59 days, Q2 CapEx $4.8M (YTD $10.4M) and full‑year CapEx reaffirmed at $20–30M (now expected mid‑to‑lower end) with the company targeting H2 cash‑flow neutrality. Key Q2 service metrics included completion tools: 28,256 stages (+45%) and $37.1M revenue (+44%; international revenue +17% YTD); cementing: 1,155 jobs (+13% vs Q1) and $55.3M revenue (+3%; avg revenue per job −8%); and wireline: 6,414 stages (−7%) and $23.0M revenue (−4%; avg revenue per stage +3%).Nine Energy Service, Inc. Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
48
Neutral
Cash Flow
36
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 536.00M | 561.91M | 554.10M | 609.53M | 593.38M | 349.42M |
| Gross Profit | 49.15M | 60.16M | 60.60M | 78.12M | 96.04M | -3.59M |
| EBITDA | 148.40M | 53.31M | 60.47M | 72.67M | 96.34M | 20.97M |
| Net Income | 67.87M | -51.32M | -41.08M | -32.21M | 14.39M | -64.58M |
Balance Sheet | ||||||
| Total Assets | 317.65M | 353.70M | 360.08M | 401.98M | 426.83M | 381.61M |
| Cash, Cash Equivalents and Short-Term Investments | 18.25M | 19.84M | 27.88M | 30.84M | 17.45M | 21.51M |
| Total Debt | 128.87M | 382.65M | 358.79M | 366.32M | 377.80M | 372.07M |
| Total Liabilities | 188.09M | 468.66M | 426.14M | 437.61M | 450.34M | 420.88M |
| Stockholders Equity | 129.57M | -114.96M | -66.06M | -35.63M | -23.51M | -39.27M |
Cash Flow | ||||||
| Free Cash Flow | -43.36M | -23.25M | -1.57M | 20.91M | -11.88M | -55.83M |
| Operating Cash Flow | -26.78M | -7.31M | 13.20M | 45.51M | 16.67M | -40.42M |
| Investing Cash Flow | -13.20M | -13.59M | -14.18M | -23.16M | -25.42M | -11.92M |
| Financing Cash Flow | 40.66M | 12.86M | -1.68M | -8.89M | 4.85M | 5.05M |
Nine Energy Service, Inc. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $127.50M | 9.06 | 11.46% | ― | 3.44% | 9.13% | |
66 Neutral | $374.67M | 26.03 | 4.87% | 1.53% | 6.08% | -38.85% | |
56 Neutral | $501.28M | -4.43 | -17.80% | ― | -2.80% | -1752.76% | |
56 Neutral | $1.33B | -95.75 | -1.49% | ― | -15.14% | 92.26% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
50 Neutral | $455.29K | 1.68 | ― | ― | -7.15% | ― | |
50 Neutral | $877.83M | -1.97 | -56.47% | ― | -16.18% | -32.58% |
* General Sector Average
NINE
Nine Energy Service, Inc.
10.56
2.36
28.78%
OIS
Oil States International
8.38
2.85
51.54%
PUMP
Propetro Holding
10.60
5.70
116.33%
NCSM
Ncs Multistage Holdings
48.65
10.88
28.81%
RNGR
Ranger Energy Services
16.01
2.26
16.43%
ACDC
ProFrac Holding
4.67
0.52
12.53%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.