NOVNOV Inc.
Oil & Gas Field Machinery & Equipment
- Revenue
- $8.7B
- 1.4% YoY
- Operating margin
- 5.6%
- 43% YoY
- EBITDA
- $849M
- 30% YoY
- Market cap
- $6.9B
- Employees
- 1,100
- $8M revenue each
- Net debt / EBITDA
- 1.9×
- $1.7B net debt
- AI in 10-K
- 1.3
- mentions per 10K words
Takeover score 1 of 13
Fixable underperformance 1 of 7
- TSR below peersYes5 of 5 years3+ of last 5 years
- High CEO pay despite TSRNo$13M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo863% of net incomeCash flow under 80% of net income
- Dilutive SBCNo1% of revenueOver 10% of revenue
- Payouts exceed cash flowNo40% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo14% of assetsOver 40% of assets
- Shareholder dissentNo99% lowest supportAny vote under 80% support
Buyer economics 0 of 4
- Low revenue per employeeNo$8M · 96th pctBottom quartile of its SIC industry
- Quiet on AINo1.3 per 10K words · 41st pctBottom quartile of AI mentions in 10-Ks
- Net cashNo1.9× EBITDA net debtMore cash than debt, positive EBITDA
- Buyout-sizedNo$6.9B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo−$4M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $5.5B | $7.2B | $8.6B | $8.9B | $8.7B | 1.4% |
| Operating income | −$134M | $264M | $651M | $876M | $494M | 44% |
| Net income | −$250M | $155M | $993M | $635M | $145M | 77% |
| Operating cash flow | $291M | −$179M | $143M | $1.3B | $1.3B | 4.1% |
| Capex | $201M | $214M | $283M | $351M | $375M | 6.8% |
| Stock-based comp | $78M | $67M | $66M | $70M | $67M | 4.3% |
| Buybacks | — | — | — | $229M | $315M | 38% |
| Dividends | $20M | $78M | $79M | $108M | $190M | 76% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $1M · 2
- Open-market sells, 12 mo
- $5M · 6
- Net
- −$4M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $13M | $15M | 123 | 182 |
| FY2024 | $12M | −$668K | 111 | 176 |
| FY2023 | $13M | $9M | 151 | 199 |
| FY2022 | $13M | $23M | 154 | 195 |
| FY2021 | $11M | $8M | 99 | 121 |