National Energy Services Reunited Corp. Financial Ratios — NESRW

Profitability (USD)

	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	- -	- -	4.58	1.81	-7.31	-4.49	1.55	8.82	5.45
Return on Assets (%)	- -	- -	2.75	1.03	-3.67	-1.99	0.69	4.27	2.82
Return on Capital (%)	- -	- -	4.46	1.96	- -	- -	2.38	8.25	6.01
Return on Invested Capital (%)	- -	- -	4.43	1.52	- -	- -	2.53	8.28	6.26
Gross Margin (%)	26.23	- -	23.02	9.34	0.32	7.2	12.97	16.03	12.44
EBITDA Margin (%)	28.98	- -	24.29	18.7	8.99	12.64	19.45	21.55	18.13
Operating Margin (%)	14.83	- -	10.91	4.23	-4.94	-0.1	7.04	10.58	7.43
Incremental Operating Margin (%)	- -	14.83	10.91	-20.79	- -	- -	34.53	36.59	-176.27
Pretax Margin (%)	12.14	- -	7.96	3.49	-6.91	-3.28	2.6	7.34	4.56
Profit Margin (%)	11.29	- -	5.98	1.98	-7.36	-4	1.1	5.86	3.86
Net Income to Common Margin (%)	11.29	- -	5.98	1.98	-7.36	-4	1.1	5.86	3.86
Effective Tax Rate (%)	13.92	- -	24.93	43.1	- -	- -	57.85	20.09	15.34
Dvd Payout Ratio (%)	76.69	- -	- -	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	- -	- -	4.58	1.81	-7.31	-4.49	1.55	8.82	5.45

Credit (USD)

Credit Ratios API ChatGPT

	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	- -	302	384	398	596	566	485	409	332
ST Debt	- -	77	53	90	87	150	128	134	122
LT Debt	- -	225	331	309	509	417	357	275	210
Total Debt/EBITDA	- -	- -	2.4	2.55	7.56	4.93	2.17	1.46	1.38
Net Debt/EBITDA	-0.01	- -	1.94	2.07	4.95	3.97	1.72	0.98	0.77
Total Debt/EBIT	- -	- -	5.34	11.3	-13.75	-617.68	6.01	2.97	3.37
Net Debt/EBIT	-0.02	- -	4.32	9.17	-9	-497.54	4.76	2	1.88
EBITDA to Interest Expense	11.7	- -	8.43	9.82	5.19	3.37	4.86	7.03	7.38
EBITDA-CapEx/Interest Expense	11.7	- -	8.43	9.82	5.19	3.37	4.86	7.03	7.38
EBIT to Interest Expense	5.99	- -	3.79	2.22	-2.86	-0.03	1.76	3.45	3.02
Interest Expense	7	- -	19	16	15	34	46	40	33
Common Equity/Total Assets	94.6	61.86	58.23	55.98	44.83	43.88	45.7	51.21	52.28
Long-Term Debt/Equity (%)	- -	27.1	37.29	32.68	61.97	51.96	43.42	30.3	21.68
Long-Term Debt/Capital (%)	- -	19.87	26.03	22.98	35.91	30.46	27.31	20.89	16.15
Long-Term Debt/Total Assets (%)	- -	16.76	21.71	18.29	27.78	22.8	19.84	15.52	11.33
Total Debt/Equity (%)	- -	36.35	43.26	42.19	72.57	70.59	59.01	45.05	34.25
Total Debt/Capital (%)	- -	26.66	30.2	29.67	42.05	41.38	37.11	31.06	25.51
Total Debt/Total Assets (%)	- -	22.49	25.19	23.62	32.54	30.98	26.96	23.07	17.91
Net Debt to Equity	-0.34	33.36	35.01	34.25	47.51	56.86	46.79	30.27	19.15
Net Debt/Capital (%)	-0.34	25.01	25.93	25.51	32.21	35.37	31.04	22.73	15.78
EBITDA	79	- -	160	156	79	115	223	280	240
EBITDA-CapEx	79	- -	160	156	79	115	223	280	240
Operating Income (Loss)	40	- -	72	35	-43	-1	81	138	98

Liquidity (USD)

Liquidity Ratios API ChatGPT

	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	0.21	0.11	0.32	0.21	0.48	0.14	0.13	0.21	0.21
Current Ratio	0.25	1.34	1.77	1.43	1.45	0.99	1.02	1.07	1.04
Quick Ratio	0.21	0.99	1.33	1.13	1.21	0.75	0.79	0.85	0.85
CFO/Avg Current Liab	- -	- -	0.39	0.46	0.32	0.19	0.33	0.44	0.48
Common Equity/Total Assets	94.6	61.86	58.23	55.98	44.83	43.88	45.7	51.21	52.28
Long-Term Debt/Equity (%)	- -	27.1	37.29	32.68	61.97	51.96	43.42	30.3	21.68
Long-Term Debt/Capital (%)	- -	19.87	26.03	22.98	35.91	30.46	27.31	20.89	16.15
Long-Term Debt/Total Assets (%)	- -	16.76	21.71	18.29	27.78	22.8	19.84	15.52	11.33
Total Debt/Equity (%)	- -	36.35	43.26	42.19	72.57	70.59	59.01	45.05	34.25
Total Debt/Capital (%)	- -	26.66	30.2	29.67	42.05	41.38	37.11	31.06	25.51
Total Debt/Total Assets (%)	- -	22.49	25.19	23.62	32.54	30.98	26.96	23.07	17.91
CFO/Total Liabilities	665.72	- -	14.01	18.1	12.64	9.02	18.13	26.5	29.91
CFO/CapEx	- -	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	2.84	0.33	1.53	1.47	0.96	0.76	1.27	1.74	1.56

Working Capital (USD)

Working Capital Ratios API ChatGPT

	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	- -	- -	8.16	7.74	7.09	6.52	7.16	8.44	8.4
Days Sales Outstanding	- -	- -	44.75	47.18	51.47	56.01	50.96	43.26	43.46
Inventory Turnover	- -	- -	7.4	8.74	9.29	8.26	9.55	11.2	12.1
Days Inventory Outstanding	- -	- -	49.33	41.77	39.29	44.19	38.24	32.59	30.16
Accounts Payable Turnover	- -	1.67	7.99	7.34	3.8	2.58	2.8	3.32	3.19
Accounts Payable Turnover Days	- -	218.86	45.66	49.74	95.93	141.66	130.56	109.79	114.54
Cash Conversion Cycle	- -	- -	48.42	39.21	-5.18	-41.46	-41.36	-33.94	-40.92
Inventory to Cash Days	- -	- -	-4.58	5.4	12.18	11.82	12.72	10.66	13.29
Inventories	- -	58	79	94	94	111	98	97	95
Raw Materials	- -	45	58	72	66	64	67	64	59
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	15	23	25	28	47	32	33	35

Enterprise Value (USD)

Enterprise Value API ChatGPT

	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	23	103	78	127	158	38	30	38	50
- Cash & Cash Equivalents	1	25	73	75	206	79	68	108	125
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	- -	302	384	398	596	566	485	409	332
Enterprise Value	23	380	389	451	548	525	447	339	257
Total Capital	219	1,133	1,270	1,343	1,417	1,369	1,306	1,317	1,299
Total Debt/Capital (%)	- -	26.66	30.2	29.67	42.05	41.38	37.11	31.06	25.51
Total Debt / EV	- -	0.8	0.99	0.88	1.09	1.08	1.08	1.21	1.29
EV/Sales	0.08	- -	0.59	0.54	0.63	0.58	0.39	0.26	0.19
EV/EBITDA	0.29	- -	2.43	2.89	6.96	4.57	2.01	1.21	1.07
EV/EBIT	0.57	- -	5.41	12.78	- -	- -	5.54	2.46	2.62
EV/Cash Flow to Firm	0.26	- -	3.76	3.14	3.81	3.91	2.28	1.3	0.88
EV/Free Cash Flow to Firm	0.26	- -	3.76	3.14	3.81	3.91	2.28	1.3	0.88
Diluted Market Cap	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted Enterprise Value	-1	277	310	323	390	488	417	301	207
EV per Share	0.79	4.44	4.46	5.13	6	5.59	4.71	3.53	2.55
TTM Sales	271	- -	658	834	877	910	1,146	1,302	1,324
TTM EBITDA	79	- -	160	156	79	115	223	280	240
TTM Operating Income	40	- -	72	35	-43	-1	81	138	98
TTM Cash Flow to Firm	89	- -	103	143	144	134	196	261	292
TTM Free Cash Flow to Firm	89	- -	103	143	144	134	196	261	292

Multiples (USD)

Valuation Multiples API ChatGPT

	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	0.57	- -	5.41	12.78	- -	- -	5.54	2.46	2.62
Enterprise Value	23	380	389	451	548	525	447	339	257
Low Price	0.38	0.71	0.23	0.15	1.16	0.06	0.07	0.25	0.14
EV/Sales	0.08	- -	0.59	0.54	0.63	0.58	0.39	0.26	0.19
EV/EBITDA	0.29	- -	2.43	2.89	6.96	4.57	2.01	1.21	1.07
Price/Earnings	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings Average	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings High	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings Low	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value	0.11	0.12	0.09	0.13	0.19	0.05	0.04	0.04	0.05
Price/Book Value Average	0.07	0.14	0.07	0.07	0.24	0.08	0.04	0.08	0.04
Price/Book Value High	0.11	0.27	0.13	0.14	0.39	0.32	0.09	0.16	0.09
Price/Book Value Low	0.05	0.07	0.02	0.01	0.13	0.01	0.01	0.03	0.01
Price/Tangible Book Value	0.11	0.84	0.42	0.6	2.91	0.69	0.33	0.19	0.18
Price/Tangible Book Value Average	0.07	0.96	0.33	0.32	3.65	1.19	0.34	0.37	0.15
Price/Tangible Book Value High	0.11	1.85	0.6	0.62	5.87	4.72	0.83	0.74	0.31
Price/Tangible Book Value Low	0.05	0.5	0.11	0.06	1.95	0.1	0.07	0.12	0.05
Price/Sales	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales Average	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales High	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales Low	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Cash Flow	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Cash Flow Average	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Cash Flow High	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Cash Flow Low	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Free Cash Flow Average	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Free Cash Flow High	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Free Cash Flow Low	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Sales Average	0.06	- -	0.57	0.47	0.67	0.61	0.39	0.29	0.19
EV/Sales High	0.09	- -	0.64	0.55	0.81	0.82	0.43	0.34	0.22
EV/Sales Low	0.04	- -	0.5	0.4	0.57	0.54	0.37	0.25	0.17
EV/EBITDA Average	0.2	- -	2.34	2.52	7.47	4.81	2.01	1.33	1.03
EV/EBITDA High	0.3	- -	2.64	2.92	9	6.48	2.21	1.59	1.22
EV/EBITDA Low	0.13	- -	2.07	2.16	6.3	4.29	1.9	1.16	0.92
EV/EBIT Average	0.39	- -	5.2	11.12	-13.58	-602.43	5.55	2.71	2.52
EV/EBIT High	0.59	- -	5.89	12.9	-16.36	-811.57	6.11	3.25	2.98
EV/EBIT Low	0.25	- -	4.6	9.54	-11.45	-537.33	5.25	2.36	2.25
Last Price	0.82	1.2	0.9	1.45	1.73	0.4	0.32	0.39	0.5
High Price	0.85	2.64	1.29	1.5	3.49	2.73	0.8	1.52	0.85
Enterprise Value Average	16	394	373	392	589	552	448	374	247
Enterprise Value High	24	503	423	455	709	744	493	447	293
Enterprise Value Low	10	338	331	337	496	493	424	325	221

Shares Outstanding	29	86	87	88	91	94	95	96	101
Diluted Weighted Avg Shares	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic Weighted Avg Shares	- -	- -	- -	- -	- -	- -	- -	- -	- -
Revenue per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS from Cont Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted EPS, GAAP	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted EPS from Cont Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -
Free Cash Flow per Basic Share	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash & Equivalents per Share	0.03	0.29	0.84	0.85	2.25	0.84	0.71	1.12	1.24
Book Value per Share	7.64	9.71	10.17	10.76	8.99	8.53	8.65	9.46	9.6
Tangible Book Value per Share	7.64	1.43	2.17	2.43	0.59	0.58	0.97	2.06	2.74

National Energy Services Reunited Corp.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)