Energy Equipments was Nov’s largest segment in fiscal 2025, bringing in $4.87B of $8.74B (56%).
| Segment | FY 2008 | FY 2009 | FY 2013 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|
| Rig Systems | — | — | — | — | |||
| Rig Technology | — | — | — | — | |||
| Energy Equipments | $3.76B | $4.61B | $4.83B | $4.87B | |||
| Completion &Amp; Production Solutions | — | — | — | — | |||
| Petroleum Services & Supplies | — | — | — | — | |||
| Energy Products & Services | $3.47B | $3.97B | $4.04B | $3.87B | |||
| Rig Aftermarket | — | — | — | — | |||
| Distribution &Amp; Transmission | — | — | — | — | |||
| Distribution Services | — | — | — | — | |||
| Revenues | — | — | — | — | |||
| Total Revenue | — | — | — | — | |||
| Total | $7.24B | $8.58B | $8.87B | $8.74B |
Nov brought in $8.74B from its two segments in fiscal 2025, the year ended December 31, 2025. That was down 1.4% from $8.87B in fiscal 2024. Energy Equipments was the largest at $4.87B (55.7%), ahead of Energy Products & Services at $3.87B (44.3%).
Compared with fiscal 2024, Energy Equipments grew 0.9% to $4.87B, while Energy Products & Services fell 4.2% to $3.87B. From fiscal 2022 to 2025, combined revenue from these segments grew from $7.24B to $8.74B, a compound annual growth rate of 6.5%. Energy Equipments' share of the total rose from 52.0% to 55.7%.
Sales was Nov’s largest product and service line in fiscal 2025, bringing in $5.83B of $8.80B (66%).
| Product and Service | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | $4.87B | $5.78B | $5.83B | $5.83B | ||||||
| Service | $1.48B | $1.79B | $1.99B | $1.95B | ||||||
| Rental | $882.00M | $1.02B | $1.05B | $963.00M | ||||||
| Royalty Revenue | $80.00M | $78.00M | $67.00M | $57.00M | ||||||
| Total | $7.32B | $8.66B | $8.94B | $8.80B |
Nov brought in $8.80B from its four product and service lines in fiscal 2025, the year ended December 31, 2025. That was down 1.5% from $8.94B in fiscal 2024. Sales was the largest at $5.83B (66.2%), ahead of Service at $1.95B (22.2%) and Rental at $963.00M (10.9%). The remaining line, Royalty Revenue, brought in $57.00M.
Compared with fiscal 2024, every line above 2% of revenue shrank. Sales held up best, down 0.1% to $5.83B, and Rental fell the most, down 8.2% to $963.00M. From fiscal 2022 to 2025, combined revenue from these lines grew from $7.32B to $8.80B, a compound annual growth rate of 6.3%. Sales' share held steady at about 66.2%.
Offshore Destination was Nov’s largest region in fiscal 2022, bringing in $2.24B of $6.43B (35%).
| Geography | FY 2008 | FY 2009 | FY 2010 | FY 2011 | FY 2013 | FY 2014 | FY 2015 | FY 2016 | FY 2017 | FY 2022 |
|---|---|---|---|---|---|---|---|---|---|---|
| Segment Geographical Groups Of Countries Group One | — | |||||||||
| Total Revenue | — | |||||||||
| United States | — | |||||||||
| Revenues | — | |||||||||
| Other Countries | — | |||||||||
| Offshore Destination | $2.24B | |||||||||
| International | $1.63B | |||||||||
| Land Destination | $1.53B | |||||||||
| South Korea | — | |||||||||
| North America | $1.03B | |||||||||
| Singapore | — | |||||||||
| China | — | |||||||||
| Brazil | — | |||||||||
| Norway | — | |||||||||
| United Kingdom | — | |||||||||
| Canada | — | |||||||||
| United Arab Emirates | — | |||||||||
| Saudi Arabia | — | |||||||||
| Total | $6.43B |
Nov brought in $6.43B from its four regions in fiscal 2022, the year ended December 31, 2022. Offshore Destination was the largest at $2.24B (34.8%), ahead of International at $1.63B (25.4%) and Land Destination at $1.53B (23.8%). The remaining region, North America, brought in $1.03B.
Nov (NOV) reports its revenue by segment, by product and service and by geography. In fiscal 2025, Energy Equipments was its largest segment, bringing in $4.87B (55.7% of the total), followed by Energy Products & Services at $3.87B (44.3%).
Energy Equipments was Nov's largest segment in fiscal 2025, bringing in $4.87B, or 55.7% of the $8.74B total across its two segments.
Sales was Nov's largest product and service line in fiscal 2025, bringing in $5.83B, or 66.2% of the $8.80B total across its four product and service lines.
Offshore Destination was Nov's largest region in fiscal 2022, bringing in $2.24B, or 34.8% of the $6.43B total across its four regions.
Energy Equipments grew faster than Energy Products & Services in fiscal 2025, up 0.9% from $4.83B to $4.87B. Energy Products & Services fell 4.2% to $3.87B.
Every figure comes from Nov's annual financial filings, as reported. Each line keeps the name Nov gives it, and years follow its fiscal calendar.
Nov's revenue by segment goes back to fiscal 2008, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.