2026-10-25
National Energy Services Reunited clears the business-activity screen and the figures we can measure look clean, but one or more financial figures are still pending, so the verdict is not final yet.
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latest tape · as of 06:01 UTC
The Screen · Energy · Oil & Gas Equipment & Services
National Energy Services Reunited Corp.
NESR · Nasdaq · USD · Market cap $2.2B · 7,352 employees
National Energy Services Reunited Corp.
Not yet scored20.46 USD
Price as of 23 Oct 2026Daily close, not a live quoteLast reviewed 6 days ago
Screened 2026-10-23 · the tape above runs as of 06:01 UTC · two dates, stated on purpose · verdict and workings shown in full · never trimmed
Key facts today
- Price20.46 USD at the 23 Oct 2026 close
- Ethical screenNot yet scored
- OptionsOpen interest leans heavily to calls (put/call 0.27)
- Last reviewed23 Oct 2026 (6 days ago)
A summary of the dated readings below, not a live quote and not advice.
PRICE · FAIR-VALUE RANGE1M3M6MYTD1Y3Y5Y
What this means: price 20.46 against the desk's fair-value range, base estimate 27.62, over the last year.
- Trend Distribution
- Insiders no filings inside 60 days, left as found
- Positioning no disclosures inside 60 days, left as found
- Options put/call open interest 0.27, read 2026-10-28
- Ethical screen not yet scored
Price20.46 USD
Fair value27.62
Ethical score70.0/100
Our investment reviews on this name
2026-10-14Read Distribution22.78-10.2% to today ✓Markdown gives way to Distribution after a 30% slide in 12 days
2026-10-02Read Markdown32.40-36.9% to today ✓Markup gives way to Markdown with volume flow in agreement
2026-09-06Read Markup33.64-39.2% to today Accumulation gives way to Markup after a 20% rise in 4 weeks
2026-08-06Read Accumulation27.99-26.9% to today Markup gives way to Accumulation after a 6% rise in 5 weeks
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
The full research record, in depth, below
This name holds its distribution label.
National Energy Services Reunited Corp. holds its Distribution at $20.46. Elevated stress, defensive posture warranted, held for 3 days.
| Phase | Distribution · caution |
| Quantitative state | Elevated stress, defensive posture warranted, held for 3 days |
| Price at the screen | $20.46 |
| Valuation | 23.58 trailing · 8.50 forward price to earnings |
| Values screen | Not scored · score 70.0 |
| Beta | 0.48 |
Five Screens, Shown in Full
This security has not been fully scored against the values screen yet.
| Test | Figure | Limit | What it means | Status |
|---|---|---|---|---|
| Business activity | Permissible | Core business clean | Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending. | Pass |
| Debt load | 17.91% | Below 33% | Interest-bearing debt is just 17.9% of its assets, well under the one-third ceiling: it does not run on borrowed money. | Pass |
| Interest-bearing cash | 0.00% | Below 33% | Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit. | Pass |
| Receivables | 16.36% | Below 49% | Money owed to the company is 16.4% of assets, under the 49% limit. | Pass |
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical ReadThe Read, in Plain English
National Energy Services Reunited clears the business-activity screen and the figures we can measure look clean, but one or more financial figures are still pending, so the verdict is not final yet.
Read as at 2026-10-28. It updates when the underlying figures move, and past reads are kept below.
2026-09-24
Clears
National Energy Services Reunited clears all five screens. Its business is in a permissible area, its interest-bearing debt is about 18%, inside the ~33% line, and almost none of its income is interest, so it passes.
Earlier reads, kept as written. The ethical profile is tracked over time, not overwritten.
What the Numbers Say It Is WorthThe Fair Value Range
Fair value range in USD, drawn from the 2026-10-23 screen. The gold marker is the market price at the same screen. A 35.0% margin of safety to the base estimate.
Third-party analyst targets: 9 covering, consensus Strong Buy. The average target sits +100% from the screen price.
Reading the gap · Both our model and the analysts see meaningful upside from here.
Price History & ProjectionsWhere it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-10-23 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain WordsOilfield work in the Gulf rarely stays steady
Picture a crew waiting on the next rig contract while crude prices swing. NESR delivers fracturing and coiled tubing across the Middle East and North Africa, yet its 5 percent profit margin and 7 percent return on equity show little pricing power once the cycle turns. Revenue grew 34 percent lately, but the forward multiple of 11.2 times already prices in peak earnings that seldom last in this line of work.
We pass. The shares sit above our fair value with a negative margin of safety, and the low multiple is the classic warning sign of a cyclical value trap rather than a bargain. Strong top-line growth cannot mask thin returns or an unknown moat when the next downturn arrives.
Oil prices, regional spending cuts and customer concentration remain the real drivers. The ethical screen clears, yet the numbers still point to avoid. Analysis, not advice.
| Forward P/E | 8.5xcheap for a company growing this fast |
| Trailing P/E | 23.6xa premium valuation |
| EPS, trailing | 0.92 |
| EPS, forward | 2.55 |
| Revenue growth | +59.1%growing very fast |
| Profit margin | 5.8%thin but positive margins |
| Return on equity | 9.4%a modest return on shareholder capital |
| FCF yield | 6.29% |
| Debt to equity | 0.29minimal debt: a conservative balance sheet |
| Current ratio | 1.02adequate liquidity, worth monitoring |
| Beta | 0.48barely tracks the market's swings |
| Short interest, float | 0.06% |
| 52-week range | 11.41 - 36.94 |
| Market cap | $2.2B |
| Employees | 7,352 |
The risks · The main risks here are ordinary market swings and the chance our fair-value read proves too optimistic.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to TradeNESR trades on Nasdaq. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
Every Entry, As Written
2026-10-28
Distribution $21.69
+13.5% Entry 9
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved up 13.5% since our last review. Ethical screening: not fully scored yet. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it D. Technically it is holding around 20% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 287%. Our forward projection puts the odds of a 10% gain over the next month near 40%. The street (7 analysts) rates it buy, with a mean price target of $32.
2026-10-21
Distribution $19.11
-16.1% Entry 8
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 16.1% since our last review. Ethical screening: not fully scored yet. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it D. Technically it is holding around 26% above its long-term trend line with momentum reading oversold. Over the past year the shares are up 287%. Our forward projection puts the odds of a 10% gain over the next month near 40%. The street (7 analysts) rates it buy, with a mean price target of $32.
2026-10-14
Distribution · changed $22.78
-29.7% Entry 7
The framework has shifted from markdown to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 29.7% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 42% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 287%. Our forward projection puts the odds of a 10% gain over the next month near 40%. The street (7 analysts) rates it buy, with a mean price target of $32.
2026-10-02
Markdown · changed $32.40
-3.7% Entry 6
The framework has shifted from markup to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 3.7% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 42% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 287%. Our forward projection puts the odds of a 10% gain over the next month near 40%. The street (7 analysts) rates it buy, with a mean price target of $32.
2026-09-06
Markup · changed $33.64
+20.2% Entry 5
The framework has shifted from accumulation to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 20.2% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 42% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 287%. Our forward projection puts the odds of a 10% gain over the next month near 40%. The street (7 analysts) rates it buy, with a mean price target of $32.
2026-08-06
Accumulation · changed $27.99
+5.6% Entry 4
The framework has shifted from markup to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 5.6% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 42% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 287%. Our forward projection puts the odds of a 10% gain over the next month near 40%. The street (7 analysts) rates it buy, with a mean price target of $32.
2026-07-18
Markup $26.50
+0.0% Entry 3
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 42% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 287%. Our forward projection puts the odds of a 10% gain over the next month near 40%. The street (7 analysts) rates it buy, with a mean price target of $32.
2026-07-03
Markup $26.50
+0.0% Entry 2
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows excellent risk-adjusted returns.
2026-07-02
Markup $26.50
Entry 1
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows excellent risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
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- NESR Expands Into Lithium Extraction With New Saudi Aramco Deal Yahoo Finance · 17d ago
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Headlines from third-party outlets, linked for reference: not our reporting, not advice.
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| Period | Price then | Price return | Divs per share | $1,000 became | Total return |
|---|---|---|---|---|---|
| 1 month | $25.43 | -7.6% | · | $924 | -7.6% |
| 2 months | $23.00 | +2.2% | · | $1,022 | +2.2% |
| 3 months | $19.27 | +22.0% | · | $1,220 | +22.0% |
| 6 months | $14.95 | +57.2% | · | $1,572 | +57.2% |
| 1 year | $6.08 | +286.5% | · | $3,865 | +286.5% |
Historical returns from market close data. Past performance does not guarantee future results.
This entry now belongs to the ledger. Whatever NESR does next, these words stay.
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