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National Oilwell Varco

DB:NO8
Snowflake Description

Excellent balance sheet with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
NO8
DB
$4B
Market Cap
  1. Home
  2. DE
  3. Energy
Company description

National Oilwell Varco, Inc. designs, constructs, manufactures, and sells systems, components, and products for oil and gas drilling and production worldwide. The last earnings update was 53 days ago. More info.


Add to Portfolio Compare Print
  • National Oilwell Varco has significant price volatility in the past 3 months.
NO8 Share Price and Events
7 Day Returns
10.9%
DB:NO8
8.1%
Europe Energy Services
-0.6%
DE Market
1 Year Returns
-62.4%
DB:NO8
-57.2%
Europe Energy Services
-20.9%
DE Market
NO8 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
National Oilwell Varco (NO8) 10.9% -38.2% -58.1% -62.4% -74.7% -81.5%
Europe Energy Services 8.1% -27.8% -50.1% -57.2% -65.6% -87.6%
DE Market -0.6% -16.6% -26% -20.9% -25.8% -31.8%
1 Year Return vs Industry and Market
  • NO8 underperformed the Energy Services industry which returned -57.2% over the past year.
  • NO8 underperformed the Market in Germany which returned -20.9% over the past year.
Price Volatility
NO8
Industry
5yr Volatility vs Market

Value

 Is National Oilwell Varco undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of National Oilwell Varco to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for National Oilwell Varco.

DB:NO8 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 23 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.5%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:NO8
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 5.4%
Energy Services Unlevered Beta Simply Wall St/ S&P Global 0.91
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.912 (1 + (1- 21%) (66.01%))
1.259
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.26
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.259 * 5.44%)
6.46%

Discounted Cash Flow Calculation for DB:NO8 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for National Oilwell Varco is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

DB:NO8 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 6.46%)
2020 612.87 Analyst x11 575.68
2021 467.36 Analyst x10 412.37
2022 522.50 Analyst x2 433.04
2023 202.00 Analyst x1 157.26
2024 164.84 Est @ -18.4% 120.54
2025 143.42 Est @ -13% 98.51
2026 130.20 Est @ -9.21% 84.01
2027 121.65 Est @ -6.57% 73.73
2028 115.92 Est @ -4.71% 65.99
2029 111.96 Est @ -3.42% 59.87
Present value of next 10 years cash flows $2,080.00
DB:NO8 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $111.96 × (1 + -0.39%) ÷ (6.46% – -0.39%)
$1,628.05
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $1,628.05 ÷ (1 + 6.46%)10
$870.57
DB:NO8 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $2,080.00 + $870.57
$2,950.57
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $2,950.57 / 385.95
$7.65
DB:NO8 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:NO8 represents 0.86009x of NYSE:NOV
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.86009x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 7.65 x 0.86009
€6.58
Value per share (EUR) From above. €6.58
Current discount Discount to share price of €9.38
= -1 x (€9.38 - €6.58) / €6.58
-42.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of National Oilwell Varco is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for National Oilwell Varco's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are National Oilwell Varco's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:NO8 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $-15.96
NYSE:NOV Share Price ** NYSE (2020-04-06) in USD $10.9
Europe Energy Services Industry PE Ratio Median Figure of 31 Publicly-Listed Energy Services Companies 8.85x
Germany Market PE Ratio Median Figure of 401 Publicly-Listed Companies 16.45x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of National Oilwell Varco.

DB:NO8 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:NOV Share Price ÷ EPS (both in USD)

= 10.9 ÷ -15.96

-0.68x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • National Oilwell Varco is loss making, we can't compare its value to the Europe Energy Services industry average.
  • National Oilwell Varco is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does National Oilwell Varco's expected growth come at a high price?
Raw Data
DB:NO8 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -0.68x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 23 Analysts
118.3%per year
Europe Energy Services Industry PEG Ratio Median Figure of 20 Publicly-Listed Energy Services Companies 0.51x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.16x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for National Oilwell Varco, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on National Oilwell Varco's assets?
Raw Data
DB:NO8 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $20.16
NYSE:NOV Share Price * NYSE (2020-04-06) in USD $10.9
Europe Energy Services Industry PB Ratio Median Figure of 70 Publicly-Listed Energy Services Companies 0.4x
Germany Market PB Ratio Median Figure of 572 Publicly-Listed Companies 1.44x
DB:NO8 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:NOV Share Price ÷ Book Value per Share (both in USD)

= 10.9 ÷ 20.16

0.54x

* Primary Listing of National Oilwell Varco.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • National Oilwell Varco is overvalued based on assets compared to the Europe Energy Services industry average.
X
Value checks
We assess National Oilwell Varco's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Energy Services industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Energy Services industry average (and greater than 0)? (1 check)
  5. National Oilwell Varco has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is National Oilwell Varco expected to perform in the next 1 to 3 years based on estimates from 23 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
118.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is National Oilwell Varco expected to grow at an attractive rate?
  • National Oilwell Varco's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • National Oilwell Varco's earnings growth is expected to exceed the Germany market average.
  • National Oilwell Varco's revenues are expected to decrease over the next 1-3 years, this is below the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:NO8 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:NO8 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 23 Analysts 118.3%
DB:NO8 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 23 Analysts -2.7%
Europe Energy Services Industry Earnings Growth Rate Market Cap Weighted Average 21.1%
Europe Energy Services Industry Revenue Growth Rate Market Cap Weighted Average -0.4%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.1%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:NO8 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 23 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:NO8 Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 12,020 1
2023-12-31 7,315 362 -245 2
2022-12-31 7,395 627 -106 8
2021-12-31 7,093 663 -19 21
2020-12-31 7,485 831 73 23
2020-04-06
DB:NO8 Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 8,479 714 -6,095
2019-09-30 8,596 462 -5,698
2019-06-30 8,624 300 -5,453
2019-03-31 8,598 612 -40
2018-12-31 8,453 521 -31
2018-09-30 8,024 621 -57
2018-06-30 7,705 663 -84
2018-03-31 7,358 592 -183
2017-12-31 7,304 832 -237
2017-09-30 7,027 664 -937
2017-06-30 6,838 490 -2,273
2017-03-31 6,803 450 -2,415

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • National Oilwell Varco's earnings are expected to grow significantly at over 20% yearly.
  • National Oilwell Varco's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:NO8 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 23 Analyst Estimates (S&P Global) See Below

All data from National Oilwell Varco Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:NO8 Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31
2023-12-31 -0.64 -0.64 -0.64 1.00
2022-12-31 0.02 0.90 -0.70 4.00
2021-12-31 -0.08 0.96 -0.67 11.00
2020-12-31 0.13 0.71 -0.45 11.00
2020-04-06
DB:NO8 Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 -15.96
2019-09-30 -14.96
2019-06-30 -14.35
2019-03-31 -0.11
2018-12-31 -0.08
2018-09-30 -0.15
2018-06-30 -0.22
2018-03-31 -0.49
2017-12-31 -0.63
2017-09-30 -2.48
2017-06-30 -6.03
2017-03-31 -6.42

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • National Oilwell Varco is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess National Oilwell Varco's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
National Oilwell Varco has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has National Oilwell Varco performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare National Oilwell Varco's growth in the last year to its industry (Energy Services).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • National Oilwell Varco does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare National Oilwell Varco's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare National Oilwell Varco's 1-year growth to the Europe Energy Services industry average as it is not currently profitable.
Earnings and Revenue History
National Oilwell Varco's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from National Oilwell Varco Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:NO8 Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 8,479.00 -6,095.00 1,303.00
2019-09-30 8,596.00 -5,698.00 1,336.00
2019-06-30 8,624.00 -5,453.00 1,363.00
2019-03-31 8,598.00 -40.00 1,249.00
2018-12-31 8,453.00 -31.00 1,233.00
2018-09-30 8,024.00 -57.00 1,189.00
2018-06-30 7,705.00 -84.00 1,161.00
2018-03-31 7,358.00 -183.00 1,151.00
2017-12-31 7,304.00 -237.00 1,169.00
2017-09-30 7,027.00 -937.00 1,198.00
2017-06-30 6,838.00 -2,273.00 1,199.00
2017-03-31 6,803.00 -2,415.00 1,211.00
2016-12-31 7,251.00 -2,412.00 1,338.00
2016-09-30 8,281.00 -3,221.00 1,417.00
2016-06-30 9,941.00 -1,704.00 1,478.00
2016-03-31 12,126.00 -1,198.00 1,590.00
2015-12-31 14,757.00 -769.00 1,764.00
2015-09-30 17,744.00 1,349.00 1,902.00
2015-06-30 20,025.00 1,893.00 2,088.00
2015-03-31 21,371.00 2,212.00 2,208.00
2014-12-31 21,440.00 2,450.00 2,092.00
2014-09-30 21,033.00 2,482.00 2,063.00
2014-06-30 20,309.00 2,381.00 2,000.00
2014-03-31 19,734.00 2,267.00 1,923.00
2013-12-31 19,221.00 2,180.00 1,905.00
2013-09-30 19,604.00 2,221.00 1,901.00
2013-06-30 20,060.00 2,235.00 1,898.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if National Oilwell Varco has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if National Oilwell Varco has efficiently used its assets last year compared to the Europe Energy Services industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if National Oilwell Varco improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess National Oilwell Varco's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Energy Services industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
National Oilwell Varco has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is National Oilwell Varco's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up National Oilwell Varco's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • National Oilwell Varco is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • National Oilwell Varco's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of National Oilwell Varco's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 3.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from National Oilwell Varco Company Filings, last reported 3 months ago.

DB:NO8 Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 7,846.00 1,989.00 1,171.00
2019-09-30 8,129.00 2,484.00 1,313.00
2019-06-30 8,487.00 2,483.00 1,121.00
2019-03-31 13,840.00 2,483.00 1,270.00
2018-12-31 13,889.00 2,482.00 1,427.00
2018-09-30 13,976.00 2,714.00 1,293.00
2018-06-30 13,968.00 2,715.00 1,137.00
2018-03-31 14,151.00 2,713.00 1,236.00
2017-12-31 14,160.00 2,480.00 1,437.00
2017-09-30 14,151.00 3,213.00 1,722.00
2017-06-30 14,022.00 3,214.00 1,530.00
2017-03-31 13,985.00 3,213.00 1,479.00
2016-12-31 14,003.00 3,214.00 1,408.00
2016-09-30 14,888.00 3,216.00 1,510.00
2016-06-30 16,186.00 3,280.00 1,661.00
2016-03-31 16,433.00 3,379.00 1,759.00
2015-12-31 16,460.00 3,909.00 2,080.00
2015-09-30 18,206.00 3,983.00 1,846.00
2015-06-30 19,005.00 4,305.00 2,544.00
2015-03-31 19,122.00 4,245.00 3,024.00
2014-12-31 20,772.00 3,166.00 3,536.00
2014-09-30 21,619.00 3,146.00 4,091.00
2014-06-30 21,418.00 3,148.00 3,885.00
2014-03-31 22,792.00 3,149.00 3,688.00
2013-12-31 22,330.00 3,150.00 3,436.00
2013-09-30 21,725.00 3,749.00 2,741.00
2013-06-30 20,951.00 4,120.00 2,327.00
  • National Oilwell Varco's level of debt (25.4%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (15.3% vs 25.4% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Whilst loss making National Oilwell Varco has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making National Oilwell Varco has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 41.3% per year.
X
Financial health checks
We assess National Oilwell Varco's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. National Oilwell Varco has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is National Oilwell Varco's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.83%
Current annual income from National Oilwell Varco dividends. Estimated to be 1.8% next year.
If you bought €2,000 of National Oilwell Varco shares you are expected to receive €37 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • National Oilwell Varco's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.69%).
  • National Oilwell Varco's dividend is below the markets top 25% of dividend payers in Germany (4.85%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:NO8 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 23 Analyst Estimates (S&P Global) See Below
Europe Energy Services Industry Average Dividend Yield Market Cap Weighted Average of 14 Stocks 6.8%
Germany Market Average Dividend Yield Market Cap Weighted Average of 315 Stocks 3.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.9%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 4.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:NO8 Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2024-12-31
2023-12-31 0.20 1.00
2022-12-31 0.20 6.00
2021-12-31 0.19 17.00
2020-12-31 0.20 17.00
2020-04-06
DB:NO8 Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2020-02-27 0.200 1.767
2019-11-14 0.200 0.874
2019-08-15 0.200 0.936
2019-05-29 0.200 0.943
2019-03-01 0.200 0.764
2018-11-13 0.200 0.688
2018-08-16 0.200 0.480
2018-05-11 0.200 0.461
2018-02-23 0.200 0.532
2017-11-16 0.200 0.572
2017-08-17 0.200 0.599
2017-05-18 0.200 0.611
2017-02-24 0.200 0.538
2016-11-17 0.200 0.521
2016-08-18 0.200 0.579
2016-04-11 0.200 0.615
2016-02-26 1.840 5.926
2015-11-12 1.840 5.722
2015-08-13 1.840 4.735
2015-05-14 1.840 3.998
2015-02-27 1.840 3.528
2014-11-13 1.840 3.029
2014-08-14 1.840 2.398
2014-05-15 1.840 2.262
2014-02-27 1.040 1.329
2013-11-14 1.040 1.334
2013-08-15 1.040 1.327
2013-05-20 1.040 1.465
2013-02-21 0.520 0.769
2013-02-01 0.520 0.756
2012-08-16 0.480 0.648
2012-05-17 0.480 0.702
2012-02-23 0.480 0.622
2011-11-17 0.480 0.658
2011-08-18 0.440 0.693
2011-05-12 0.440 0.606
2011-02-23 0.440 0.572
2010-11-18 0.440 0.648
2010-08-19 0.400 0.873
2010-05-13 0.400 1.076
2010-02-26 0.400 0.934
2009-11-17 0.400 0.908

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of National Oilwell Varco's earnings are paid to the shareholders as a dividend.
  • The company is paying a dividend however it is incurring a loss.
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.5x coverage).
X
Income/ dividend checks
We assess National Oilwell Varco's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can National Oilwell Varco afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. National Oilwell Varco has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of National Oilwell Varco's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Clay Williams
COMPENSATION $13,828,435
AGE 56
TENURE AS CEO 6.2 years
CEO Bio

Mr. Clay C. Williams serves as the Chairman, President and Chief Executive Officer of National Oilwell Varco, L.P. Mr. Williams has been the Chairman and Chief Executive Officer at National Oilwell Varco Norway AS since June 2, 2014. He has been the Chief Executive Officer at National ilwell Varco, Inc. since February 27, 2014 and as its President since December 2012. He has been the President of Ameron International Corporation since October 2011. He served as the Chief Financial Officer of National Oilwell Varco, Inc. from March 11, 2005 to December 2012, Chief Operating Officer from December 2012 to February 2014 and its Executive Vice President from February 2009 to December 2012 and Senior Vice President from March 11, 2005 to February 2009. He served as Senior Vice President of National Oilwell Varco Incorporated from March 11, 2005 to February 2009. He served as the Chief Financial Officer and Vice President of Varco International Inc. from January 1, 2003 to March 11, 2005 and also its Vice President of Finance and Corporate Development from May 2002 to January 2003, Vice President of Pipeline Services from May 1999 to February 2001, Director of Corporate Development from April 1996 to February 1997 and Vice President of Corporate Development from February 1997 to February 2000 and again from February 2001 to May 2002. He served as a Director of Corporate Development of Drexel from March 1996 to April 1996. He served as an Associate of SCF Partners, LP from January 1994 to March 1996 and also served as an Engineer of Shell Oil Company from 1985 to 1992. He held various positions in the energy industry for more than 20 years. He has been the Chairman at National Oilwell Varco, Inc. since June 2, 2014. He has been a Director of National Oilwell Varco Norway AS since June 2, 2014 and National Oilwell Varco, Inc. since November 2013. He had been an Independent Director of Benchmark Electronics, Inc. since October 10, 2008 until July 2019. Mr. Williams received a B.S. degree in Civil/Geological Engineering from Princeton University and an MBA from the University of Texas at Austin.

CEO Compensation
  • Clay's compensation has increased whilst company is loss making.
  • Clay's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the National Oilwell Varco management team in years:

5.5
Average Tenure
56
Average Age
  • The average tenure for the National Oilwell Varco management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Clay Williams

TITLE
Chairman
COMPENSATION
$14M
AGE
56
TENURE
6.2 yrs

Jose Bayardo

TITLE
Senior VP & CFO
COMPENSATION
$5M
AGE
47
TENURE
4.7 yrs

Scott Duff

TITLE
VP, Corporate Controller & Chief Accounting Officer
COMPENSATION
$3M
AGE
51
TENURE
5.8 yrs

Craig Weinstock

TITLE
Senior VP & General Counsel
COMPENSATION
$3M
AGE
60
TENURE
5.5 yrs

Joe Rovig

TITLE
President of Rig Systems & Rig Aftermarket
COMPENSATION
$4M
AGE
58
TENURE
6.1 yrs

Hege Kverneland

TITLE
CTO & Corporate VP
TENURE
10.8 yrs

Alex Philips

TITLE
Chief Information Officer
TENURE
4.7 yrs

Bonnie Houston

TITLE
Chief Administrative Officer
TENURE
3.1 yrs

Blake McCarthy

TITLE
Vice President of Corporate Development & Investor Relations
TENURE
1.3 yrs

David Reid

TITLE
Chief Marketing Officer
Board of Directors Tenure

Average tenure and age of the National Oilwell Varco board of directors in years:

6
Average Tenure
65
Average Age
  • The tenure for the National Oilwell Varco board of directors is about average.
Board of Directors

Ben Guill

TITLE
Independent Director
COMPENSATION
$292K
AGE
68
TENURE
21.3 yrs

Clay Williams

TITLE
Chairman
COMPENSATION
$14M
AGE
56
TENURE
5.9 yrs

David Harrison

TITLE
Independent Director
COMPENSATION
$318K
AGE
72
TENURE
16.7 yrs

Eric Mattson

TITLE
Independent Director
COMPENSATION
$296K
AGE
67
TENURE
15.1 yrs

Greg Armstrong

TITLE
Lead Independent Director
COMPENSATION
$300K
AGE
61

Marcela Donadio

TITLE
Independent Director
COMPENSATION
$302K
AGE
64
TENURE
6 yrs

Bill Thomas

TITLE
Independent Director
COMPENSATION
$304K
AGE
66
TENURE
4.4 yrs

Jim Hackett

TITLE
Independent Director
COMPENSATION
$258K
AGE
65
TENURE
4 yrs

Melody Meyer

TITLE
Independent Director
COMPENSATION
$299K
AGE
61
TENURE
2.6 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by National Oilwell Varco individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
18. Mar 20 Buy Jose Bayardo Individual 16. Mar 20 18. Mar 20 20,000 €8.17 €158,536
24. Feb 20 Sell Scott Duff Individual 21. Feb 20 21. Feb 20 -7,134 €21.45 €-153,024
13. Feb 20 Sell Eric Mattson Individual 12. Feb 20 12. Feb 20 -10,000 €22.00 €-219,951
07. Nov 19 Sell Scott Duff Individual 06. Nov 19 06. Nov 19 -6,000 €21.24 €-127,412
19. Aug 19 Sell Joseph Rovig Individual 16. Aug 19 16. Aug 19 -22,640 €16.56 €-374,806
07. Aug 19 Sell Eric Mattson Individual 06. Aug 19 06. Aug 19 -4,750 €18.78 €-89,201
X
Management checks
We assess National Oilwell Varco's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. National Oilwell Varco has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

National Oilwell Varco, Inc. designs, constructs, manufactures, and sells systems, components, and products for oil and gas drilling and production worldwide. It operates through three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies. The company offers various equipment and technologies used to perform drilling operations. It also provides solids control and waste management equipment and services; drilling fluids; portable power generation products; drill and wired pipes; drilling optimization and automation services; tubular inspection, repair, and coating services; instrumentation, and measuring and monitoring services; downhole and fishing tools; steerable technologies; and drill bits. The company offers equipment and technologies for hydraulic fracture stimulation, including pressure pumping trucks, blenders, sanders, hydration units, injection units, flowline, and manifolds; well intervention, such as coiled tubing units, coiled tubing, and wireline units, as well as blowout preventers and tools; onshore production comprising fluid processing systems, composite pipes, surface transfer and progressive cavity pumps, and artificial lift systems; offshore production that include fluid processing systems, floating production systems, and subsea production technologies; and connectors for conductor pipes. It also provides substructures, derricks, and masts; cranes; jacking systems; pipe lifting, racking, rotating, and assembly systems; mud pumps; blowout preventers; drives and generators; rig instrumentation and control systems; equipment components for offshore wind construction vessels; mooring, anchor, and deck handling machinery; and pipelay and construction systems. The company offers spare parts, repair, and rentals, as well as remote equipment monitoring, technical support, field service, and customer training services. National Oilwell Varco, Inc. was founded in 1862 and is based in Houston, Texas.

Details
Name: National Oilwell Varco, Inc.
NO8
Exchange: DB
Founded: 1862
$3,899,302,013
385,946,844
Website: http://www.nov.com
Address: National Oilwell Varco, Inc.
7909 Parkwood Circle Drive,
Houston,
Texas, 77036-6565,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE NOV Common Stock New York Stock Exchange US USD 29. Oct 1996
DB NO8 Common Stock Deutsche Boerse AG DE EUR 29. Oct 1996
LSE 0K58 Common Stock London Stock Exchange GB USD 29. Oct 1996
BMV NOV * Common Stock Bolsa Mexicana de Valores MX MXN 29. Oct 1996
BOVESPA N1OV34 BDR EACH 1 REPR 1 SHS UNSPON Bolsa de Valores de Sao Paulo BR BRL 27. Jan 2020
Number of employees
Current staff
Staff numbers
33,810
National Oilwell Varco employees.
Industry
Oil and Gas Equipment and Services
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/06 23:12
End of day share price update: 2020/04/06 00:00
Last estimates confirmation: 2020/04/05
Last earnings filing: 2020/02/13
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.