Dnow Inc (DNOW) financials
Dnow revenue and earnings by year
Dnow's revenue was $2.82 billion in the fiscal year to December 31, 2025, up 18.8% from the year before. Net income was -$89.0 million, -3.2% of revenue. Since the fiscal year to December 31, 2016, revenue has grown 3.3% a year on average.
Fiscal years, each labelled by the calendar year it ended in.
Income statement, the last 10 fiscal years
| Fiscal year to | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 2.82 | 2.37 | 2.32 | 2.14 | 1.63 | 1.62 | 2.95 | 3.13 | 2.65 | 2.11 |
| Revenue growth | 18.8% | 2.2% | 8.7% | 30.9% | 0.8% | -45.1% | -5.6% | 18.1% | 25.7% | — |
| Gross profit | 0.48 | 0.53 | 0.54 | 0.51 | 0.36 | 0.29 | 0.59 | 0.63 | 0.50 | 0.35 |
| Gross margin | 17.0% | 22.4% | 23.2% | 23.7% | 21.9% | 18.0% | 19.9% | 20.1% | 18.9% | 16.4% |
| Operating income | -0.09 | 0.11 | 0.14 | 0.14 | 0.01 | -0.43 | -0.09 | 0.06 | -0.05 | -0.23 |
| Operating margin | -3.3% | 4.6% | 6.2% | 6.5% | 0.7% | -26.6% | -3.2% | 1.9% | -2.0% | -10.9% |
| Net income | -0.09 | 0.08 | 0.25 | 0.13 | 0.01 | -0.43 | -0.10 | 0.05 | -0.05 | -0.23 |
| Net margin | -3.2% | 3.3% | 10.8% | 6.0% | 0.3% | -26.4% | -3.3% | 1.7% | -2.0% | -11.1% |
| Diluted EPS | -$0.76 | $0.71 | $2.27 | $1.13 | $0.05 | -$3.91 | -$0.90 | $0.46 | -$0.48 | -$2.18 |
| Free cash flow | 0.13 | 0.29 | 0.17 | -0.01 | 0.03 | 0.18 | 0.21 | 0.06 | -0.12 | 0.23 |
Diluted EPS is stated in today's shares (adjusted for every split since). Quarterly statements and the income statement as a flow chart are in the app: open DNOW in Markets.
How Dnow makes money
Revenue by segment in the quarter to June 30, 2026, as the company reports it.
| Segment | Revenue | Share |
|---|---|---|
| Upstream | $508M | 38.9% |
| Gas Utilities | $310M | 23.7% |
| Midstream | $272M | 20.8% |
| Downstream & Industrial | $217M | 16.6% |
See also: DNOW valuation and P/E history · DNOW returns
No forecast, no recommendation. This page describes Dnow Inc from published data; it is not advice to buy, sell or hold any security.
Figures as of the close on Oct 30, 2026 unless a row says otherwise. Prices are split adjusted; returns include dividends reinvested. Data may be delayed. See the disclaimer and how TrendArc works.