NESR Valuation

National Energy Services Reunited Corp

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14.170

+0.2(1.432%)1D

NESR Relative Valuation

NESR's fair value is calculated using relative valuation, based on historical P/E and P/S ranges and their premiums/discounts relative to a competitor average, adjusted by weights. If the market price exceeds this fair value range, NESR is overvalued; if below, it's undervalued.

Historical Valuation

National Energy Services Reunited Corp (NESR) is now in the Overvalued zone, suggesting that its current forward PE ratio of 13.63 is considered Overvalued compared with the five-year average of 7.94. The fair price of National Energy Services Reunited Corp (NESR) is between 8.81 to 11.83 according to relative valuation methord. Compared to the current price of 13.14 USD , National Energy Services Reunited Corp is Overvalued By 11.06%.

Relative Value

Fair Zone

8.81-11.83

Current Price：13.14

11.06%

Overvalued

14.62

Trailing

Forward

5.03

EV/EBITDA

National Energy Services Reunited Corp. (NESR) has a current EV/EBITDA of 5.03. The 5-year average EV/EBITDA is 3.47. The thresholds are as follows: Strongly Undervalued below 2.45, Undervalued between 2.45 and 2.96, Fairly Valued between 3.98 and 2.96, Overvalued between 3.98 and 4.48, and Strongly Overvalued above 4.48. The current Forward EV/EBITDA of 5.03 falls within the Strongly Overvalued range.

10.35

EV/EBIT

National Energy Services Reunited Corp. (NESR) has a current EV/EBIT of 10.35. The 5-year average EV/EBIT is 6.93. The thresholds are as follows: Strongly Undervalued below 4.75, Undervalued between 4.75 and 5.84, Fairly Valued between 8.02 and 5.84, Overvalued between 8.02 and 9.11, and Strongly Overvalued above 9.11. The current Forward EV/EBIT of 10.35 falls within the Strongly Overvalued range.

13.97

National Energy Services Reunited Corp. (NESR) has a current PS of 13.97. The 5-year average PS is 1.19. The thresholds are as follows: Strongly Undervalued below -4.24, Undervalued between -4.24 and -1.52, Fairly Valued between 3.91 and -1.52, Overvalued between 3.91 and 6.62, and Strongly Overvalued above 6.62. The current Forward PS of 13.97 falls within the Strongly Overvalued range.

4.63

P/OCF

National Energy Services Reunited Corp. (NESR) has a current P/OCF of 4.63. The 5-year average P/OCF is 2.77. The thresholds are as follows: Strongly Undervalued below 0.54, Undervalued between 0.54 and 1.65, Fairly Valued between 3.88 and 1.65, Overvalued between 3.88 and 4.99, and Strongly Overvalued above 4.99. The current Forward P/OCF of 4.63 falls within the Overvalued range.

9.80

P/FCF

National Energy Services Reunited Corp. (NESR) has a current P/FCF of 9.80. The 5-year average P/FCF is 5.56. The thresholds are as follows: Strongly Undervalued below -0.26, Undervalued between -0.26 and 2.65, Fairly Valued between 8.47 and 2.65, Overvalued between 8.47 and 11.38, and Strongly Overvalued above 11.38. The current Forward P/FCF of 9.80 falls within the Overvalued range.

National Energy Services Reunited Corp (NESR) has a current Price-to-Book (P/B) ratio of 1.34. Compared to its 3-year average P/B ratio of 0.88 , the current P/B ratio is approximately 52.37% higher. Relative to its 5-year average P/B ratio of 0.88, the current P/B ratio is about 52.37% higher. National Energy Services Reunited Corp (NESR) has a Forward Free Cash Flow (FCF) yield of approximately 0.00%. Compared to its 3-year average FCF yield of 15.62%, the current FCF yield is approximately -100.00% lower. Relative to its 5-year average FCF yield of 15.62% , the current FCF yield is about -100.00% lower.

1.44

P/B

Median3y

0.88

Median5y

0.88

10.01

FCF Yield

Median3y

15.62

Median5y

15.62

Competitors Valuation Multiple

The average P/S ratio for NESR's competitors is 10.98, providing a benchmark for relative valuation. National Energy Services Reunited Corp Corp (NESR) exhibits a P/S ratio of 13.97, which is 27.19% above the industry average. Given its robust revenue growth of -12.16%, this premium appears unsustainable.

P/S

P/E

EV/EBITDA

EV/EBIT

P/S

Revenue Growth

Market Cap

NESR.O

National Energy Services Reunited Corp

ProPetro Holding Corp

Innovex Downhole Solutions Inc

20.43

0.00

AESI.N

Atlas Energy Solutions Inc

Helix Energy Solutions Group Inc

6.68

10.09%

982.50M

Performance Decomposition

Market capitalization of NESR increased by 58.03% over the past 1 year. The primary factor behind the change was an increase in P/E Change from 10.71 to 18.43.

The secondary factor is the Margin Expansion, contributed -1.96%to the performance.

Overall, the performance of NESR in the past 1 year is driven by P/E Change. Which is more unsustainable.

-12.16%

336.21M → 295.32M

Revenue Growth

-1.96%

6.13 → 6.01

Margin Expansion

72.15%

10.71 → 18.43

P/E Change

58.03%