NABORS INDUSTRIES LTD
NBR, NBRWF · Drilling Oil & Gas Wells · 16.0M shares · +7%/yr ↑ dilution · EDGAR filings ↗
Net buyback after stock comp: $2M (gross $18M, SBC $16M)
Reference price $78.12 · est. market cap ~$1.2B — last insider purchase, 2026-02-20 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B74Leading land-drilling franchise with top-decile returns (ROE 48.5%, ROA 90th pct, ROIC 13.7%) but elevated leverage and a swing to lower earnings.
Strengths
- ROE 100th pct, ROA 90th pct, ROIC 83rd pct and net margin 90th pct; revenue +8.7% (70th pct) aided by the Parker acquisition
- Global scale, modern rig fleet and differentiated drilling-automation technology
Risks
- High leverage (D/E 3.58, 95th pct) inflates ROE and adds balance-sheet risk
- Net-income growth -2.6 (18th pct) and slightly negative FCF in a highly cyclical oil-services market
Notable findings
- High leverageHigh leverage (debt/equity 3.58)
- Cash burnNegative free cash flow (-22.7M)
- Strong balance sheetStrong balance sheet — $941M cash & investments, ~166 quarters of runway
- Insider buyingInsider buying — 1 open-market buy(s) by 1 insider(s) (~$500,747, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
14.8%
Net margin
9.0%
Return on equity
48.5%
Return on assets
6.0%
ROIC
13.7%
Revenue growth (QoQ)
-1.8%
Debt / equity
3.6×
Current ratio
1.6×
Free cash flow
-$23M
Tangible book value
$591M
Cash & investments
$941M
Cash runway
166q
Stock comp / revenue
0.7%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-02 | Tudor David J | Grant | 1.3K | — |
| 2026-06-02 | Linn Michael C | Grant | 1.3K | — |
| 2026-06-02 | YEARWOOD JOHN | Grant | 1.3K | — |
| 2026-06-02 | Kotts John P | Grant | 1.3K | — |
| 2026-06-02 | CRANE JAMES R | Grant | 1.3K | — |
| 2026-06-02 | CHASE ANTHONY R | Grant | 1.3K | — |
| 2026-06-02 | Beder Tanya S | Grant | 1.3K | — |
| 2026-02-20 | YEARWOOD JOHN | Buy | 6.4K | $78.12 |
| 2026-02-19 | Rodriguez Rodriguez Miguel Angel | Tax withheld | 162 | $75.30 |
| 2026-02-18 | Rodriguez Rodriguez Miguel Angel | Tax withheld | 314 | $71.91 |
| 2026-02-15 | Rodriguez Rodriguez Miguel Angel | Tax withheld | 175 | $68.10 |
| 2026-02-15 | Rodriguez Rodriguez Miguel Angel | Tax withheld | 137 | $68.10 |
| 2026-02-11 | Rodriguez Rodriguez Miguel Angel | Tax withheld | 194 | $68.34 |
| 2026-02-09 | Andrews Mark D | Grant | 1.8K | — |
| 2026-02-09 | Andrews Mark D | Grant | 4.6K | — |
| 2026-02-09 | Rodriguez Rodriguez Miguel Angel | Grant | 3.9K | — |
| 2026-01-01 | PETRELLO ANTHONY G | Grant | 49K | — |
| 2026-01-01 | Restrepo William J | Option exercise | 17K | — |
| 2026-01-01 | Restrepo William J | Tax withheld | 4.3K | $54.30 |
| 2026-01-01 | Andrews Mark D | Option exercise | 1.6K | — |
| 2026-01-01 | Rodriguez Rodriguez Miguel Angel | Option exercise | 2.7K | — |
| 2026-01-01 | Rodriguez Rodriguez Miguel Angel | Tax withheld | 812 | $54.30 |
| 2026-01-01 | Rodriguez Rodriguez Miguel Angel | Grant | 12K | — |
| 2026-01-01 | Rodriguez Rodriguez Miguel Angel | Grant | 9.2K | — |
| 2026-01-01 | PETRELLO ANTHONY G | Tax withheld | 7.7K | $54.30 |
| 2026-01-01 | PETRELLO ANTHONY G | Option exercise | 16K | — |
| 2026-01-01 | PETRELLO ANTHONY G | Tax withheld | 6.5K | $54.30 |
| 2026-01-01 | PETRELLO ANTHONY G | Option exercise | 5.0K | — |
| 2026-01-01 | PETRELLO ANTHONY G | Tax withheld | 2.0K | $54.30 |
| 2026-01-01 | PETRELLO ANTHONY G | Option exercise | 14K | — |
| 2026-01-01 | PETRELLO ANTHONY G | Tax withheld | 5.5K | $54.30 |
| 2026-01-01 | PETRELLO ANTHONY G | Option exercise | 19K | — |
| 2025-12-31 | PETRELLO ANTHONY G | Gift | 18K | — |
| 2025-12-31 | PETRELLO ANTHONY G | Disposition | 18K | — |
| 2025-12-31 | Andrews Mark D | Disposition | 1.6K | — |
| 2025-10-01 | Rodriguez Rodriguez Miguel Angel | Grant | 4.8K | — |
| 2025-09-30 | Restrepo William J | Tax withheld | 4.0K | $40.87 |
| 2025-09-30 | Restrepo William J | Tax withheld | 7.1K | $40.87 |
| 2025-09-30 | Restrepo William J | Tax withheld | 9.7K | $40.87 |
| 2025-09-30 | Restrepo William J | Option exercise | 1.1K | — |
| 2025-09-30 | Restrepo William J | Tax withheld | 424 | $40.87 |
| 2025-09-30 | Restrepo William J | Option exercise | 12K | — |
| 2025-09-30 | Restrepo William J | Tax withheld | 4.6K | $40.87 |
| 2025-09-11 | VARDE PARTNERS INC | Sell | 305K | $41.01 |
| 2025-09-11 | VARDE PARTNERS INC | Sell | 7.4K | $42.33 |
| 2025-07-24 | Tudor David J | Grant | 6.4K | — |
| 2025-07-18 | VARDE PARTNERS INC | Option exercise | 296K | $30.00 |
| 2025-06-03 | YEARWOOD JOHN | Grant | 6.3K | — |
| 2025-06-03 | Linn Michael C | Grant | 6.3K | — |
| 2025-06-03 | Kotts John P | Grant | 6.3K | — |
| 2025-06-03 | CRANE JAMES R | Grant | 6.3K | — |
| 2025-06-03 | CHASE ANTHONY R | Grant | 6.3K | — |
| 2025-06-03 | Beder Tanya S | Grant | 6.3K | — |
| 2025-02-18 | Andrews Mark D | Grant | 2.2K | — |
| 2025-02-18 | Andrews Mark D | Grant | 6.9K | — |
| 2025-01-01 | PETRELLO ANTHONY G | Grant | 43K | — |
| 2025-01-01 | Restrepo William J | Option exercise | 2.9K | — |
| 2025-01-01 | Restrepo William J | Tax withheld | 703 | $55.17 |
| 2025-01-01 | Restrepo William J | Option exercise | 1.1K | — |
| 2025-01-01 | Restrepo William J | Tax withheld | 262 | $57.17 |
| 2025-01-01 | Restrepo William J | Option exercise | 5.8K | — |
| 2025-01-01 | Restrepo William J | Tax withheld | 1.6K | $55.17 |
| 2025-01-01 | Restrepo William J | Grant | 25K | — |
| 2025-01-01 | PETRELLO ANTHONY G | Option exercise | 14K | — |
| 2025-01-01 | PETRELLO ANTHONY G | Tax withheld | 5.7K | $57.17 |
| 2025-01-01 | PETRELLO ANTHONY G | Option exercise | 13K | — |
| 2025-01-01 | PETRELLO ANTHONY G | Tax withheld | 2.0K | $57.17 |
| 2025-01-01 | PETRELLO ANTHONY G | Option exercise | 5.0K | — |
| 2024-12-31 | PETRELLO ANTHONY G | Disposition | 30K | — |
| 2024-12-31 | Restrepo William J | Disposition | 17K | — |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-05 | Shareholder vote | filing ↗ |
| 2026-04-28 | ResultsExhibits | filing ↗ |
| 2026-04-07 | Material agreementDebt obligationExhibits | filing ↗ |
| 2026-02-11 | ResultsExhibits | filing ↗ |
| 2026-01-15 | ResultsExhibits | filing ↗ |
| 2025-11-10 | Material agreementDebt obligationExhibits | filing ↗ |
| 2025-11-05 | Reg FDExhibits | filing ↗ |
| 2025-10-28 | ResultsExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-05 | 2026-06-02 | 0001104659-26-070958 ↗ |
| 10-Q | 2026-05-01 | 2026-03-31 | 0001104659-26-053683 ↗ |
| 8-K | 2026-04-28 | 2026-04-28 | 0001104659-26-050401 ↗ |
| 8-K | 2026-04-07 | 2026-04-07 | 0001104659-26-040436 ↗ |
| 10-K | 2026-02-13 | 2025-12-31 | 0001104659-26-014997 ↗ |
| 8-K | 2026-02-11 | 2026-02-11 | 0001104659-26-013392 ↗ |
| 8-K | 2026-01-15 | 2026-01-15 | 0001104659-26-004104 ↗ |
| 8-K | 2025-11-10 | 2025-11-10 | 0001104659-25-109148 ↗ |
| 8-K | 2025-11-05 | 2025-11-04 | 0001104659-25-106472 ↗ |
| 10-Q | 2025-10-31 | 2025-09-30 | 0001104659-25-104844 ↗ |
| 8-K | 2025-10-28 | 2025-10-28 | 0001104659-25-103209 ↗ |
| 8-K | 2025-10-01 | 2025-10-01 | 0001104659-25-095626 ↗ |