NOV Inc. Files 2024 10-K Report

TL;DR

NOV Inc. dropped its 2024 10-K. All systems go for oil & gas equipment.

AI Summary

NOV Inc. filed its 2024 10-K report on February 14, 2025, detailing its fiscal year ending December 31, 2024. The company, formerly known as National Oilwell Varco Inc., is a significant player in the oil and gas machinery and equipment sector. The filing provides comprehensive financial and operational information for the reporting period.

Why It Matters

This 10-K filing provides investors and stakeholders with a detailed overview of NOV Inc.'s financial performance and strategic positioning for the fiscal year 2024, crucial for understanding the company's health and future prospects in the oil and gas industry.

Risk Assessment

Risk Level: medium — The provided text is a standard 10-K filing header and does not contain specific risk factors or financial performance details that would indicate a high or low risk level.

Key Players & Entities

• NOV Inc. (company) — Filer of the 10-K report
• National Oilwell Varco Inc (company) — Former name of NOV Inc.
• 20241231 (date) — Fiscal year end date
• 20250214 (date) — Filing date of the 10-K report
• OIL & GAS FILED MACHINERY & EQUIPMENT [3533] (industry) — Standard Industrial Classification for NOV Inc.

FAQ

Key Financial Figures

• $0.01 — ch registered Common Stock, par value $0.01 per share NOV New York Stock Exchan

Filing Documents

• nov-20241231.htm (10-K) — 5608KB
• nov-ex10_16.htm (EX-10.16) — 194KB
• nov-ex19.htm (EX-19) — 61KB
• nov-ex21_1.htm (EX-21.1) — 258KB
• nov-ex23_1.htm (EX-23.1) — 31KB
• nov-ex31_1.htm (EX-31.1) — 11KB
• nov-ex31_2.htm (EX-31.2) — 15KB
• nov-ex32_1.htm (EX-32.1) — 7KB
• nov-ex32_2.htm (EX-32.2) — 7KB
• nov-ex95.htm (EX-95) — 96KB
• nov-ex97.htm (EX-97) — 43KB
• img80491831_0.jpg (GRAPHIC) — 10KB
• img80491831_1.jpg (GRAPHIC) — 613KB
• img80491831_2.jpg (GRAPHIC) — 776KB
• 0000950170-25-021042.txt ( ) — 28612KB
• nov-20241231.xsd (EX-101.SCH) — 2346KB
• nov-20241231_htm.xml (XML) — 6399KB

B USINESS

ITEM 1. B USINESS General NOV Inc. ("NOV" or the "Company") is a leading independent equipment and technology provider to the global energy industry. NOV and its predecessor companies have spent over 160 years helping transform oil and gas development and improving its cost-effectiveness, efficiency, safety, and environmental impact. Over the past few decades, the Company has pioneered and refined key technologies to improve the economic viability of frontier resources, including unconventional and deepwater oil and gas. More recently, by applying its deep expertise and technology, the Company has developed solutions to improve the economics of alternative energy sources. NOV's extensive proprietary technology portfolio supports the industry's drilling, completion, and production needs. With unmatched cross-segment capabilities, scope, and scale, NOV continues to develop and introduce technologies that further enhance the economics and efficiencies of energy production, with a focus on digital solutions, including automation, predictive analytics, and condition-based maintenance. NOV serves major-diversified, national, and independent service companies, contractors, and energy producers in 59 countries. NOV operates under two segments, Energy Equipment and Energy Products and Services. Business Strategy and Competitive Strengths NOV's primary business objective is to generate above-average, long-term capital returns and further enhance its position as a leading independent global energy technology and equipment provider by delivering solutions that help lower the marginal cost and environmental footprint associated with energy development and production from oil, gas, and renewable sources. NOV's strategy is to capitalize on economies of scale that arise from its position as a leading provider of equipment and technology to the global energy industry, proprietary technology it continues to develop, and core capabilities and competencies it can apply towa

View Full Filing

View this 10-K filing on SEC EDGAR