DNOW (Dnow Inc.) Stock Financials & Earnings | Market Cap Arena

DNOW (Dnow Inc.) Stock Financials & Earnings | Market Cap Arena

DNOWDnow Inc.

Mkt Cap$1B

Energy·Oil & Gas Equipment & Services·🇺🇸 United States·NYSE

Revenue (TTM)$2.8B

Net Income (TTM)-$75M

EPS (TTM)-$0.28

Free Cash Flow (TTM)$134M

Gross Margin17.0%

Op. Margin-0.2%

Net Margin-2.7%

FCF Margin4.8%

P/S Ratio (TTM)0.5x

P/E Ratio (TTM)—

YoY Rev Growth+18.8%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$584M	$137M	$35M
Q2 23	$594M	$134M	$36M
Q3 23	$588M	$134M	$37M
Q4 23	$555M	$130M	$32M
Q1 24	$563M	$129M	$28M
Q2 24	$633M	$142M	$33M
Q3 24	$606M	$135M	$23M
Q4 24	$571M	$133M	$29M
Q1 25	$599M	$139M	$30M
Q2 25	$628M	$144M	$39M
Q3 25	$634M	$145M	$33M
Q4 25	$959M	$50M	-$107M

Valuation

Quarter	P/S	P/E
Q1 23	0.6x	10.8x
Q2 23	0.6x	10.2x
Q3 23	0.6x	10.6x
Q4 23	0.6x	5.6x
Q1 24	0.6x	5.8x
Q2 24	0.6x	6.1x
Q3 24	0.6x	6.7x
Q4 24	0.6x	17.1x
Q1 25	0.6x	16.9x
Q2 25	0.6x	16.7x
Q3 25	0.6x	14.6x
Q4 25	0.5x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	-$6M	-$11M
Q2 23	$85M	$79M
Q3 23	$4M	$0
Q4 23	$105M	$103M
Q1 24	$81M	$80M
Q2 24	$21M	$18M
Q3 24	$74M	$72M
Q4 24	$122M	$119M
Q1 25	-$16M	-$22M
Q2 25	$45M	$41M
Q3 25	$43M	$39M
Q4 25	$83M	$76M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$5M
Q2 23	$6M
Q3 23	$4M
Q4 23	$2M
Q1 24	$1M
Q2 24	$3M
Q3 24	$2M
Q4 24	$3M
Q1 25	$6M
Q2 25	$4M
Q3 25	$4M
Q4 25	$7M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+23.5%	+22.0%
Q2 23	+10.2%	+9.4%
Q3 23	+1.9%	+3.4%
Q4 23	+1.5%	+2.1%
Q1 24	-3.6%	-2.6%
Q2 24	+6.6%	+7.5%
Q3 24	+3.1%	+5.8%
Q4 24	+2.9%	+3.6%
Q1 25	+6.4%	+6.4%
Q2 25	-0.8%	-1.8%
Q3 25	+4.6%	+3.1%
Q4 25	+68.0%	+96.7%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$3M	0.5%
Q2 23	$4M	0.7%
Q3 23	$4M	0.7%
Q4 23	$4M	0.7%
Q1 24	$2M	0.4%
Q2 24	$4M	0.6%
Q3 24	$3M	0.5%
Q4 24	$4M	0.7%
Q1 25	$4M	0.7%
Q2 25	$4M	0.6%
Q3 25	$4M	0.6%
Q4 25	$4M	0.4%

OpEx Breakdown

Quarter	SG&A
Q1 23	$102M
Q2 23	$98M
Q3 23	$97M
Q4 23	$98M
Q1 24	$101M
Q2 24	$104M
Q3 24	$107M
Q4 24	$103M
Q1 25	$109M
Q2 25	$105M
Q3 25	$108M
Q4 25	$226M

Revenue by Geography

Quarter	Canada	International	United States
Q3 23	$68M	$72M	$448M
Q1 24	$66M	$62M	$435M
Q2 24	$56M	$65M	$512M
Q1 25	$62M	$63M	$474M
Q2 25	$48M	$52M	$528M
Q3 25	$53M	$54M	$527M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$168M	$0	$168M
Q2 23	$203M	$0	$203M
Q3 23	$194M	$0	$194M
Q4 23	$299M	$0	$299M
Q1 24	$188M	$0	$188M
Q2 24	$197M	$0	$197M
Q3 24	$261M	$0	$261M
Q4 24	$256M	$0	$256M
Q1 25	$219M	$0	$219M
Q2 25	$232M	$0	$232M
Q3 25	$266M	$0	$266M
Q4 25	$164M	$0	$164M

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	111M	+0.2%
Q2 23	108M	-2.8%
Q3 23	108M	-0.0%
Q4 23	107M	-1.0%
Q1 24	107M	+0.3%
Q2 24	108M	+0.6%
Q3 24	107M	-0.9%
Q4 24	107M	-0.0%
Q1 25	107M	+0.0%
Q2 25	106M	-0.9%
Q3 25	106M	-0.0%
Q4 25	155M	+46.2%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$821K	5K
FY 15	$602K	5K
FY 16	$468K	5K
FY 17	$576K	5K
FY 18	$695K	5K
FY 19	$671K	4K
FY 20	$648K	3K
FY 21	$694K	2K
FY 22	$881K	2K
FY 23	$938K	2K
FY 24	$922K	3K
FY 25	$1M	3K