National Energy Services Reunited Corp.
NESRHIGH VELOCITYFILING INTENSITYNational Energy Services Reunited Corp. reads as High Velocity (composite 62/100); pressure / disclosure signals dominate the posture this cycle · primary market Energy Infrastructure.
Lens
Disclosed M&A capital (2023–2025)
$60M
vs $41M in 2020–2022
Disclosed transactions
N/A
1/3 active fiscal years in window
Buyer archetype
Selective Buyer
Acquisition use is visible but targeted.
Composite score
62
High Velocity dominates · Filing Intensity
Behavioral posture, nine reads.
Each index scores the issuer 0–100 against an EDGAR-anchored definition. Scores ≥ threshold elevate the issuer into the index's constituent set; the dominant index drives the masthead label.
Active Acquirer
Companies actively deploying disclosed capital into M&A
- $1.3B disclosed buyer spend
Buyer Cadence
Buyer-side companies with recent filing activity
- 19 8-Ks
Target Probability
Issuers showing target-side patterns from filings
- Control-process language
- 18 activism filings
Spin/Carve
Issuers showing spin-off, carve-out, or sum-of-parts posture
- 18 activism filings
Pressure Watch
Issuers facing activism, governance, or control pressure
- 18 activism filings
- Latest activism 1.7y ago
- Control-process filings
Distress Watch
Issuers showing financial-distress filing patterns
- 10-Q 2981d stale
- 18 activism filings
Restatement Risk
Issuers with accounting-integrity flags from filings
- 1 NT late filing
- Latest event 4.2y ago; discounted
Capital Velocity
DominantIssuers with the highest filing-activity intensity
- 19 8-Ks
- 5 form types
Quiet Power
Large issuers with low signal volume and clean disclosure cadence
- Enterprise value $2.6B
- 10-Q 2981d ago
- 5 active signals
Capital cadence.
Ten-year disclosed M&A activity. Bars show spend ($MM); ticks show recorded transaction count. Disclosure tier annotated where v6 audited corpus carries an entry.
Disclosed spend $MM Disclosed transactions (right axis)Peak spend year: $880M · Peak count: 2
| FY | Disclosed buys | Disclosed spend | Avg ticket | Audited tier |
|---|---|---|---|---|
| 2025 | N/A | N/A | N/A | N/A |
| 2024 | N/A | $60M | N/A | N/A |
| 2023 | N/A | N/A | N/A | N/A |
| 2022 | N/A | N/A | N/A | N/A |
| 2021 | N/A | N/A | N/A | N/A |
| 2020 | 1 | $41M | $41M | N/A |
Strategy posture.
The buyer's playbook in terms of strategic archetype: what each disclosed move says about how they're deploying capital.
Archetype mix
- Platform33%
- Geographic Expansion33%
- Bolt On33%
Strategy keywords
Terms recurring across recent 10-K acquisition disclosures.
- platform
- geographic_expansion
- bolt_on
Filing language.
Direct excerpts from acquisition disclosures and strategy sections: the verbs the buyer chose, in the filings they signed.
“Our acquisition and value creation strategy is to identify, acquire and, after our initial business combination, build a company in the energy services industry that complements the experience of our management team and can benefit from their operational expertise.”
“Lack of consolidation of our fiscal results in a taxpaying jurisdiction prevents offsetting some losses against taxable profits.”
“Lack of consolidation in a taxpaying jurisdiction prevents offsetting some losses against taxable profits.”
“Our acquisition strategy will leverage our team’s network of potential proprietary and public transaction sources where we believe a combination of our relationships, knowledge and experience in the energy services industry could effect a positive transformation or augmentation of existing businesses or properties to improve their overall value proposition.”
Market context.
Where this issuer sits inside its SE-Cluster rollup wedge, with disclosed-spend rank plus trading comparables against the public peer set.
Primary market
Energy Infrastructure
- Market spend (2023–2025)
- $86.6B
- Market spend (2020–2022)
- $40.3B
- Recent vs prior
- +115%
- Issuer rank in market
- N/A
- Share of market capital
- 0.0%
Valuation positioning
NESR trades at a -0.6-turn discount to the Energy Infrastructure peer median of 12.9×.
- EV / Revenue
- 1.9×
- Net debt / EBITDA
- -0.3×
- Peer median EV / EBITDA
- 12.9×
Trading comparables
FMP market data · 2026-05-10
| Company | EV / EBITDA | EV / Rev | Net debt / EBITDA | Revenue | M&A 2023–2025 |
|---|---|---|---|---|---|
| 19.9× | 11.8× | 9.3× | $1.5B | $1B | |
| 13.3× | 4.8× | -0.3× | $9.3B | $3.7B | |
SLB LimitedSLB | 12.5× | 2.5× | 0.9× | $35.9B | $5.8B |
National Energy Services Reunited Corp.NESR | 12.3× | 1.9× | -0.3× | $1.3B | $60M |
| 7.0× | 2.7× | -0.2× | $58.3B | $2.7B |
Trading multiples from FMP market data; disclosed M&A spend from the SE-Cluster EDGAR 10-K corpus. Peer set = top disclosed buyers in Energy Infrastructure. Bars scaled to the highest EV/EBITDA in the set.
Buyer landscape.
Public buyers whose stated archetypes, target categories, and recent cadence align with this issuer as a plausible acquisition target. Scores cross EDGAR signal and disclosure overlap.
Likely buyers
No public buyers surface as a strong target-side fit on current signal.
Likely sellers / divestiture partners
No reciprocal divestiture / strategic-alternatives matches identified.
Filing activity & signal stream.
Filing cadence and event-driven signals visible on EDGAR. The signal stream below is curated from restatement / spin-carve / activism categories, providing context for any near-term call.
Filing cadence
- 10-K (annual)82026-03-06
- 10-Q (quarterly)42018-05-14
- 8-K (event)192026-05-07
- Proxy / DEF 14A92026-03-24
- Activism (13D / DFAN / PREC)182024-11-04
Signals on file
- watch
Late-filing notice
2022-05-031 NT 10-K/10-Q filing on file.
- elevated
Activism on file
2024-11-0418 activist filings on file (13D, DFAN14A, PREC14A series).
- info
Signal
Serial acquisition history
- info
Signal
10-K strategy themes
- info
Signal
Recent transaction activity
Audited corpus.
No audited record on file for this CIK in the current v6 corpus.
This issuer has not been extracted into the v6 audited acquirer corpus yet. The brief above pulls from ranking-level aggregates and issuer-index signal only.