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Review the full annual statement in one scroll, from headline results to detailed SEC line items, margin conversion, and growth diagnostics.
NABORS INDUSTRIES LTD’s top-line, gross profit, operating income, and bottom-line conversion. Values are shown in USD millions.
CAGR 12.1% (FY2021 to FY2025)
CAGR -8.6% (FY2021 to FY2025)
Latest annual filing: FY2025
Latest annual filing: FY2025
Change vs FY2021: -2020 bps
Change vs FY2021: +1880 bps
Change vs FY2021: +3722 bps
Profitability profile tracked across FY2021 through FY2025.
Side-by-side read of gross, operating, and net margin.
Read the shape of profitability with either a discrete bar view or a cleaner line trajectory.
FY2025 versus FY2024
FY2025 versus FY2024
FY2025 versus FY2024
FY2025 versus FY2024
Negative values are highlighted to make slowdowns obvious.
The most direct way to see whether the business is accelerating or rolling over.
Compounded annual growth across FY2021 to FY2025.
Compounded annual growth across FY2021 to FY2025.
Compounded annual growth across FY2021 to FY2025.
Compounded annual growth across FY2021 to FY2025.
Over the past five years, NABORS INDUSTRIES LTD has experienced significant volatility alongside an overall upward trend in revenue and a marked improvement in operating income. Revenue grew steadily from US$2,017.5 million in 2021 to US$3,184.7 million in 2025, with notable acceleration between 2021 and 2022 (an increase of over 30%) and continued, albeit more moderate, growth thereafter. The company’s gross profit, however, has been highly volatile—ranging from a high of US$730.7 million in 2021 to negative figures in 2022 (–US$260.7 million) and 2024 (–US$69.8 million), before rebounding to US$509.9 million in 2025. This swing suggests fluctuations in cost management or input price pressures, common in the drilling and oilfield services industry, where commodity price volatility often impacts margins. Operating income presents a more encouraging picture, transitioning from a deficit of US$80.8 million in 2021 to healthy figures above US$400 million from 2023 onwards, reaching US$471.1 million in 2025. Net income also reflects this turnaround, moving from a loss of US$569.3 million in 2021 to a modest loss in 2024, and finally reporting a profit of US$286.6 million in 2025. The significant year-over-year swings—particularly the strong recovery in operating income and net income from 2022 to 2025—may be driven by effective cost controls, operational improvements, and potentially better market conditions within the cyclical oil and gas sector. Overall, NABORS INDUSTRIES’ financial performance appears to be on an upward trajectory, demonstrating improved profitability and resilience, though the variability in gross profit suggests a need for continued vigilance on cost management to ensure long-term sustainability.
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.