Nabors Industries (NBR) Stock Analysis & Winston Score

Nabors Industries is one of the largest land drilling contractors in the world. It operates large rigs that drill oil and gas wells for energy companies like ExxonMobil, Chevron, and other major producers. Nabors does not own the oil or gas itself — it simply provides the equipment and crews that drill the holes.

Nabors makes money by renting out its drilling rigs and charging a daily rate for the crews that operate them. It works across the United States, the Middle East, Latin America, and other regions, with a fleet of hundreds of rigs globally. The company has invested in automated and high-efficiency rigs, which helps it compete for contracts with larger oil producers. The biggest risk Nabors faces is that its revenue depends heavily on oil and gas prices — when energy prices fall, producers cut drilling budgets quickly, and demand for Nabors' rigs drops with them.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+6.4% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

-165.5% YoY

YoY Growth Rate

Earnings declining

Insider Activity

10.3%ownership

Insiders own a meaningful stake in the company

Cash Runway

~2 years

$501M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

$501M cash & investments at current burn rate

Growth context

Nabors Industries is growing revenue at 6% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

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Quality

Gross Margin

17.1%

Thin — 17.1% gross margin

Operating Margin

6.2%

Modest — 6.2% operating margin

ROCE

1.8%

Weak — 1.8% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY

+10.2%

Steady sales growth (10.2% YoY)

EPS YoY

N/A

Data not available

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Cash Conversion

346%

Turns 346% of profit into real cash

FCF Margin

0.1%

Thin free cash flow (0.1%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity

3.72

Heavy debt load (3.72)

Interest Cover

2.13x

Tight — interest eats into profit (2.1x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

P/E Ratio (TTM)

6.1x

no trend

Attractive valuation — P/E 6.1

P/E under 10. The price tag is small relative to last year's profit.

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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