Nabors Industries Ltd (NBR) financial statements: income statement, balance sheet and cash flow
Nabors Industries Ltd's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Nabors Industries Ltd reported revenue of $3.2B (+8.2% year on year) and net income of $374.4M (+525.6% year on year).
Income statement
Nabors Industries Ltd income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Operating revenues
$3.2B
$2.9B
$3.0B
$2.7B
Investment income (loss)
$27.6M
$38.7M
$43.8M
$15.0M
Total revenues and other income
$3.2B
$3.0B
$3.0B
$2.7B
Direct costs
$1.9B
$1.7B
$1.8B
$1.7B
General and administrative expenses
$304.6M
$249.3M
$244.1M
$228.4M
Research and engineering
$53.1M
$57.1M
$56.3M
$49.9M
Depreciation and amortization
$649.2M
$633.4M
$645.3M
$665.1M
Interest expense
$215.4M
$210.9M
$185.3M
$177.9M
Gain on disposition of Quail Tools
($414.0M)
—
—
—
Gain on bargain purchase
($113.7M)
—
—
—
Other, net
$65.8M
$106.8M
($726.0K)
$131.7M
Total costs and other deductions
$2.7B
$3.0B
$2.9B
$2.9B
Income (loss) before income taxes
$537.5M
($31.0M)
$129.1M
($245.7M)
Current
$66.0M
$35.3M
$63.3M
$54.2M
Deferred
$97.1M
$21.7M
$15.9M
$7.3M
Income tax expense (benefit)
$163.1M
—
—
—
Net income (loss)
$374.4M
($88.0M)
$49.9M
($307.2M)
Less: Net (income) loss attributable to noncontrolling interest
($87.8M)
($88.1M)
($61.7M)
($43.0M)
Net income (loss) attributable to Nabors
$286.6M
($176.1M)
($11.8M)
($350.3M)
Basic (in dollars per share)
$18.75
-$22.37
-$5.49
-$40.52
Diluted (in dollars per share)
$17.39
-$22.37
-$5.49
-$40.52
Basic (in shares)
13.2M
9.2M
9.2M
8.9M
Diluted (in shares)
14.4M
9.2M
9.2M
8.9M
Nabors Industries Ltd income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Operating revenues
$814.8M
$783.5M
$818.2M
$832.8M
Investment income (loss)
$2.1M
$2.9M
$7.3M
$6.1M
Total revenues and other income
$816.9M
$786.4M
$825.5M
$838.9M
Direct costs
$507.6M
$493.5M
$491.8M
$488.9M
General and administrative expenses
$71.4M
$71.8M
$77.1M
$82.7M
Research and engineering
$14.2M
$13.5M
$13.0M
$12.7M
Depreciation and amortization
$160.5M
$156.2M
$160.3M
$175.1M
Interest expense
$42.7M
$43.8M
$54.3M
$56.1M
Other, net
$5.7M
($13.4M)
$24.5M
$6.1M
Total costs and other deductions
$802.0M
$765.3M
$405.5M
$818.0M
Income (loss) before income taxes
$14.9M
$21.1M
$420.0M
$20.9M
Current
$14.0M
$11.8M
$26.3M
$16.2M
Deferred
$2.4M
$5.1M
$91.3M
$6.9M
Income tax expense (benefit)
$16.4M
$16.9M
$117.6M
$23.1M
Net income (loss)
($1.5M)
$4.3M
$302.5M
($2.2M)
Less: Net (income) loss attributable to noncontrolling interest
($20.8M)
($19.4M)
($28.3M)
($28.7M)
Net income (loss) attributable to Nabors
($22.3M)
($15.2M)
$274.2M
($30.9M)
Basic (in dollars per share)
-$2.04
-$1.54
$18.25
-$2.71
Diluted (in dollars per share)
-$2.04
-$1.54
$16.85
-$2.71
Basic (in shares)
14.3M
14.2M
14.1M
14.1M
Diluted (in shares)
14.3M
14.2M
15.3M
14.1M
Balance sheet
Nabors Industries Ltd balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Cash and cash equivalents
$940.7M
$389.7M
$1.1B
$451.0M
Short-term investments
$31.0K
$7.6M
$12.7M
$1.3M
Accounts receivable, net of allowance of $55,193 and $57,225, respectively
$391.7M
$388.0M
$347.8M
$327.4M
Inventory, net
$94.8M
$130.0M
$147.8M
$127.9M
Other current assets
$124.3M
$84.3M
$79.9M
$93.0M
Total current assets
$1.6B
$999.5M
$1.6B
$1.0B
Property, plant and equipment, net
$2.9B
$2.8B
$2.9B
$3.0B
Restricted cash held in trust
$0
$331.8M
$315.5M
$284.8M
Deferred income taxes
$189.2M
$216.3M
$238.9M
$257.3M
Other long-term assets
$128.8M
$125.7M
$179.2M
$161.0M
Total assets
$4.8B
$4.5B
$5.3B
$4.7B
Current portion of debt, net
$377.5M
—
$629.6M
—
Trade accounts payable
$300.5M
$321.0M
$294.4M
$314.0M
Accrued liabilities
$279.0M
$223.8M
$230.2M
$247.6M
Income taxes payable
$26.3M
$20.4M
$54.3M
$28.0M
Current lease liabilities
$9.7M
$6.8M
$5.4M
$6.8M
Total current liabilities
$993.0M
$571.9M
$1.2B
$596.4M
Long-term debt, net
$2.1B
$2.5B
$2.5B
$2.5B
Other long-term liabilities
$234.7M
$218.3M
$270.0M
$377.7M
Deferred income taxes
$7.1M
$2.5M
$1.4M
$2.9M
Total liabilities
$3.4B
$3.3B
$4.0B
$3.5B
Redeemable noncontrolling interest in subsidiary
$482.4M
$785.1M
$739.1M
$678.6M
Common shares, par value $0.05 per share: Authorized common shares 32,000; issued 15,703 and 10,661, respectively
$785000.00
$533000.00
$527000.00
$525000.00
Capital in excess of par value
$3.8B
$3.6B
$3.5B
$3.5B
Accumulated other comprehensive income (loss)
($10.4M)
($10.4M)
($10.8M)
($11.0M)
Retained earnings (accumulated deficit)
($1.8B)
($2.1B)
($1.9B)
($1.8B)
Less: treasury shares, at cost, 1,161 and 1,161 common shares, respectively
-1.3B
-1.3B
-1.3B
-1.3B
Total shareholders' equity
$590.7M
$135.0M
$326.6M
$369.0M
Noncontrolling interest
$364.5M
$286.3M
$215.4M
$167.8M
Total equity
$955.2M
$421.2M
$542.0M
$536.8M
Total liabilities and equity
$4.8B
$4.5B
$5.3B
$4.7B
Nabors Industries Ltd balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Cash and cash equivalents
$509.8M
$500.8M
$428.1M
$387.3M
Short-term investments
$51.0K
$46.0K
$28.0K
$34.0K
Accounts receivable, net of allowance of $48,239 and $55,193, respectively
$443.4M
$417.7M
$487.1M
$537.1M
Inventory, net
$87.9M
$90.2M
$108.3M
$107.5M
Other current assets
$156.1M
$143.9M
$150.9M
$165.0M
Total current assets
$1.2B
$1.2B
$1.4B
$1.2B
Property, plant and equipment, net
$2.9B
$2.9B
$2.9B
$3.1B
Deferred income taxes
$182.2M
$184.6M
$180.1M
$272.6M
Other long-term assets
$132.5M
$133.5M
$143.5M
$167.5M
Total assets
$4.4B
$4.4B
$4.8B
$5.0B
Trade accounts payable
$365.5M
$322.8M
$352.4M
$364.8M
Accrued liabilities
$235.7M
$223.4M
$290.8M
$274.2M
Income taxes payable
$24.2M
$29.6M
$25.6M
$16.6M
Current lease liabilities
$8.3M
$9.5M
$11.4M
$13.8M
Total current liabilities
$633.6M
$585.2M
$680.2M
$669.4M
Long-term debt, net
$2.1B
$2.1B
$2.3B
$2.7B
Other long-term liabilities
$219.1M
$234.9M
$233.5M
$244.5M
Deferred income taxes
$5.0M
$5.3M
$3.7M
$5.3M
Total liabilities
$3.0B
$2.9B
$3.3B
$3.6B
Redeemable noncontrolling interest in subsidiary
$495.9M
$489.1M
$629.3M
$806.3M
Common shares, par value $0.05 per share: Authorized common shares 32,000; issued 15,962 and 15,703, respectively
$798000.00
$798000.00
$787000.00
$787000.00
Capital in excess of par value
$3.8B
$3.8B
$3.7B
$3.7B
Accumulated other comprehensive income (loss)
($11.3M)
($11.1M)
($11.0M)
($10.7M)
Retained earnings (accumulated deficit)
($1.9B)
($1.9B)
($1.8B)
($2.1B)
Less: treasury shares, at cost, 1,161 and 1,161 common shares, respectively
-1.3B
-1.3B
-1.3B
-1.3B
Total shareholders' equity
$544.1M
$568.9M
$579.8M
$308.0M
Noncontrolling interest
$401.9M
$383.5M
$359.1M
$332.3M
Total equity
$946.0M
$952.4M
$938.9M
$640.3M
Total liabilities and equity
$4.4B
$4.4B
$4.8B
$5.0B
Cash flow statement
Nabors Industries Ltd cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net income (loss)
$374.4M
($88.0M)
$49.9M
($307.2M)
Depreciation and amortization
$649.2M
$633.4M
$645.3M
$665.1M
Deferred income tax expense (benefit)
$97.1M
$21.7M
$15.9M
$7.3M
Impairments and other charges
$34.8M
$26.1M
$8.3M
—
Amortization of debt discount and deferred financing costs
$10.4M
$8.8M
$8.7M
$8.1M
Bargain purchase gain
($113.7M)
—
—
—
Losses (gains) on debt buyback
$15.5M
$14.9M
($25.3M)
($4.1M)
Losses (gains) on sale of long-lived assets, net
($46.9M)
$27.9M
—
—
Share-based compensation
$23.4M
$16.5M
$15.8M
$15.8M
Foreign currency transaction losses (gains), net
$5.6M
$28.1M
$37.3M
$6.7M
Mark-to-market (gain) loss on warrants
($8.4M)
($16.9M)
($54.7M)
$95.9M
Net loss (gain) related to investment in Vast
$500.0K
$4.6M
($7.2M)
—
Gain on disposition of Quail Tools, excluding transaction costs
($432.1M)
—
—
—
Other
$10.6M
$5.5M
$2.4M
$869.0K
Accounts receivable
$80.6M
($42.4M)
($27.1M)
($54.5M)
Inventory
$33.4M
$16.1M
($19.4M)
$928.0K
Other current assets
$2.5M
($4.5M)
$11.6M
$3.7M
Other long-term assets
$15.4M
($6.5M)
($1.3M)
($11.2M)
Trade accounts payable and accrued liabilities
($51.3M)
($25.1M)
($32.4M)
$61.6M
Income taxes payable
$636.0K
($34.6M)
$24.1M
$8.6M
Other long-term liabilities
($8.7M)
($4.1M)
$33.5M
$39.1M
Net cash provided by (used for) operating activities
$693.3M
$581.4M
$637.9M
$501.1M
Purchases of investments
($4.3M)
($7.7M)
($38.3M)
—
Cash acquired in stock based business combination, net of cash paid
$84.4M
—
—
—
Proceeds from disposition of Quail Tools
$622.9M
—
—
—
Capital expenditures
($715.9M)
($567.9M)
($540.9M)
($373.4M)
Proceeds from sales of assets and insurance claims
$98.6M
—
—
—
Other
$11.5M
$4.7M
($5.4M)
($22.0M)
Net cash (used for) provided by investing activities
$97.1M
($555.5M)
($570.4M)
($368.7M)
Proceeds from issuance of long-term debt
$700.0M
$550.0M
$900.0M
—
Reduction in debt
($902.7M)
($1.2B)
($298.5M)
($182.6M)
Debt issuance costs
($11.5M)
($11.0M)
($18.3M)
($3.9M)
Proceeds from revolving credit facilities
$398.0M
$315.0M
$290.0M
$335.0M
Reduction in revolving credit facilities
($398.0M)
($315.0M)
($290.0M)
($795.0M)
Payment of dividend to former Parker shareholders
($6.1M)
—
—
—
Distributions to noncontrolling interest
($875.0K)
($950.0K)
($2.3M)
($3.5M)
Special purpose acquisition company redemptions by non-controlling redeemable shareholders
($342.4M)
—
($286.4M)
—
Other
($3.3M)
($2.9M)
($6.8M)
($1.2M)
Net cash (used for) provided by financing activities
($566.8M)
($662.0M)
$592.6M
($661.5M)
Effect of exchange rate changes on cash and cash equivalents
($3.7M)
($15.1M)
($23.0M)
($7.2M)
Net increase (decrease) in cash and cash equivalents and restricted cash
$219.9M
($651.2M)
$637.0M
($536.4M)
Cash and cash equivalents, beginning of period
$389.7M
$1.1B
$451.0M
$991.5M
Restricted cash, beginning of period
$333.3M
$316.7M
$286.1M
$282.0M
Cash and cash equivalents and restricted cash, beginning of period