Income Statement

Revenue

+20%

+49%

10Y

Currency: USD

	Mar-2002	Jun-2002	Sep-2002	Dec-2002	Mar-2003	Jun-2003	Sep-2003	Dec-2003	Mar-2004	Jun-2004	Sep-2004	Dec-2004	Mar-2005	Jun-2005	Sep-2005	Dec-2005	Mar-2006	Jun-2006	Sep-2006	Dec-2006	Mar-2007	Jun-2007	Sep-2007	Dec-2007	Mar-2008	Jun-2008	Sep-2008	Dec-2008	Mar-2009	Jun-2009	Sep-2009	Dec-2009	Mar-2010	Jun-2010	Sep-2010	Dec-2010	Mar-2011	Jun-2011	Sep-2011	Dec-2011	Mar-2012	Jun-2012	Sep-2012	Dec-2012	Mar-2013	Jun-2013	Sep-2013	Dec-2013	Mar-2014	Jun-2014	Sep-2014	Dec-2014	Mar-2015	Jun-2015	Sep-2015	Dec-2015	Mar-2016	Jun-2016	Sep-2016	Dec-2016	Mar-2017	Jun-2017	Sep-2017	Dec-2017	Mar-2018	Jun-2018	Sep-2018	Dec-2018	Mar-2019	Jun-2019	Sep-2019	Dec-2019	Mar-2020	Jun-2020	Sep-2020	Dec-2020	Mar-2021	Jun-2021	Sep-2021	Dec-2021	Mar-2022	Jun-2022	Sep-2022	Dec-2022	Mar-2023	Jun-2023	Sep-2023	Dec-2023	Mar-2024	Jun-2024	Sep-2024	Dec-2024	Mar-2025	Jun-2025	Sep-2025	Dec-2025
Revenue
Interest Expense	63	63	65	67	73	77	75	71	67	59	54	49	43	43	44	45	42	43	46	47	52	53	53	155	87	123	160	197	217	234	250	266	266	265	265	273	280	278	270	257	245	245	251	252	249	246	239	223	208	194	181	178	180	178	179	182	181	182	184	185	196	206	213	223	228	234	230	227	218	209	209	204	207	206	208	206	195	185	175	171	175	177	178	178	176	179	180	185	191	196	207	211	215	219	218	215
Revenue	2 026 N/A	1 769 -13%	1 496 -15%	1 503 +1%	1 571 +4%	1 648 +5%	1 770 +7%	1 914 +8%	2 062 +8%	2 161 +5%	2 277 +5%	2 444 +7%	2 634 +8%	2 876 +9%	3 198 +11%	3 480 +9%	3 928 +13%	4 226 +8%	4 556 +8%	4 809 +6%	4 896 +2%	4 942 +1%	4 915 -1%	4 740 -4%	4 984 +5%	5 166 +4%	5 376 +4%	5 416 +1%	5 415 0%	4 992 -8%	4 347 -13%	3 688 -15%	3 391 -8%	3 404 +0%	3 657 +7%	4 142 +13%	4 639 +12%	5 083 +10%	5 652 +11%	6 014 +6%	6 605 +10%	7 005 +6%	7 169 +2%	6 843 -5%	6 531 -5%	6 247 -4%	6 025 -4%	6 152 +2%	6 206 +1%	6 365 +3%	6 627 +4%	6 804 +3%	6 629 -3%	5 876 -11%	4 909 -16%	3 864 -21%	3 047 -21%	2 756 -10%	2 428 -12%	2 228 -8%	2 193 -2%	2 253 +3%	2 395 +6%	2 564 +7%	2 736 +7%	2 867 +5%	2 984 +4%	3 058 +2%	3 123 +2%	3 133 +0%	3 111 -1%	3 043 -2%	2 962 -3%	2 725 -8%	2 405 -12%	2 134 -11%	1 876 -12%	1 832 -2%	1 917 +5%	2 018 +5%	2 126 +5%	2 267 +7%	2 437 +7%	2 654 +9%	2 864 +8%	3 000 +5%	3 040 +1%	3 006 -1%	2 961 -2%	2 928 -1%	2 926 0%	2 930 +0%	2 933 +0%	3 031 +3%	3 117 +3%	3 185 +2%
Gross Profit
Cost of Revenue	(1 206)	(1 078)	(944)	(974)	(1 029)	(1 090)	(1 179)	(1 277)	(1 362)	(1 433)	(1 487)	(1 573)	(1 657)	(1 743)	(1 865)	(1 959)	(2 137)	(2 249)	(2 403)	(2 511)	(2 581)	(2 652)	(2 719)	(2 721)	(2 828)	(2 931)	(3 015)	(3 063)	(3 028)	(2 737)	(2 363)	(1 982)	(1 841)	(1 909)	(2 090)	(2 401)	(2 736)	(3 046)	(3 454)	(3 739)	(4 120)	(4 416)	(4 532)	(4 367)	(4 177)	(4 026)	(3 872)	(3 982)	(4 049)	(4 143)	(4 343)	(4 505)	(4 363)	(3 785)	(3 121)	(2 371)	(1 817)	(1 670)	(1 458)	(1 344)	(1 367)	(1 443)	(1 578)	(1 718)	(1 806)	(1 882)	(1 938)	(1 977)	(2 023)	(2 025)	(2 004)	(1 929)	(1 870)	(1 700)	(1 495)	(1 333)	(1 162)	(1 148)	(1 214)	(1 287)	(1 369)	(1 460)	(1 556)	(1 666)	(1 756)	(1 807)	(1 823)	(1 790)	(1 765)	(1 750)	(1 734)	(1 742)	(1 753)	(1 801)	(1 861)	(1 914)
Gross Profit	820 N/A	690 -16%	552 -20%	530 -4%	542 +2%	558 +3%	589 +6%	637 +8%	699 +10%	729 +4%	789 +8%	871 +10%	977 +12%	1 133 +16%	1 333 +18%	1 521 +14%	1 790 +18%	1 977 +10%	2 153 +9%	2 298 +7%	2 315 +1%	2 291 -1%	2 195 -4%	2 019 -8%	2 156 +7%	2 235 +4%	2 361 +6%	2 352 0%	2 387 +1%	2 255 -6%	1 984 -12%	1 706 -14%	1 549 -9%	1 495 -4%	1 568 +5%	1 741 +11%	1 902 +9%	2 037 +7%	2 197 +8%	2 275 +4%	2 486 +9%	2 590 +4%	2 637 +2%	2 476 -6%	2 354 -5%	2 220 -6%	2 153 -3%	2 170 +1%	2 158 -1%	2 222 +3%	2 284 +3%	2 299 +1%	2 266 -1%	2 091 -8%	1 788 -14%	1 493 -17%	1 230 -18%	1 086 -12%	970 -11%	884 -9%	826 -7%	809 -2%	817 +1%	846 +4%	930 +10%	984 +6%	1 046 +6%	1 081 +3%	1 101 +2%	1 107 +1%	1 108 +0%	1 114 +1%	1 092 -2%	1 025 -6%	910 -11%	801 -12%	714 -11%	684 -4%	704 +3%	731 +4%	757 +4%	807 +7%	881 +9%	988 +12%	1 109 +12%	1 193 +8%	1 218 +2%	1 216 0%	1 195 -2%	1 178 -1%	1 192 +1%	1 188 0%	1 180 -1%	1 229 +4%	1 256 +2%	1 270 +1%
Operating Income
Operating Expenses	(325)	(321)	(322)	(337)	(356)	(372)	(383)	(401)	(427)	(446)	(470)	(496)	(513)	(539)	(567)	(579)	(633)	(669)	(715)	(822)	(861)	(902)	(950)	(894)	(1 014)	(1 066)	(1 115)	(1 098)	(1 128)	(1 187)	(1 152)	(1 085)	(1 088)	(1 017)	(1 026)	(1 102)	(1 177)	(1 270)	(1 362)	(1 505)	(1 458)	(1 505)	(1 554)	(1 709)	(1 587)	(1 594)	(1 591)	(1 629)	(1 629)	(1 644)	(1 673)	(2 091)	(1 689)	(1 575)	(1 517)	(1 452)	(1 266)	(1 247)	(1 162)	(1 429)	(1 637)	(1 639)	(1 647)	(1 138)	(1 162)	(1 170)	(1 167)	(1 207)	(1 194)	(1 194)	(1 201)	(1 262)	(1 218)	(1 188)	(1 151)	(1 091)	(1 037)	(1 003)	(982)	(944)	(933)	(935)	(937)	(950)	(967)	(972)	(970)	(948)	(934)	(937)	(941)	(955)	(962)	(1 000)	(1 008)	(1 020)
Selling, General & Administrative	(135)	(134)	(137)	(142)	(150)	(158)	(162)	(165)	(170)	(175)	(183)	(195)	(208)	(223)	(239)	(247)	(280)	(306)	(333)	(417)	(442)	(456)	(469)	(430)	(434)	(451)	(467)	(474)	(476)	(522)	(481)	(422)	(396)	(313)	(314)	(339)	(379)	(422)	(459)	(488)	(510)	(521)	(533)	(528)	(523)	(520)	(516)	(525)	(529)	(531)	(542)	(550)	(543)	(495)	(438)	(324)	(260)	(230)	(204)	(228)	(229)	(236)	(245)	(251)	(262)	(267)	(268)	(266)	(259)	(256)	(253)	(259)	(248)	(230)	(212)	(204)	(201)	(206)	(213)	(214)	(213)	(219)	(224)	(228)	(237)	(242)	(246)	(244)	(244)	(243)	(245)	(249)	(256)	(277)	(290)	(305)
Research & Development	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	(41)	(50)	(58)	(66)	(34)	(37)	(40)	(45)	(51)	(55)	(56)	(58)	(56)	(54)	(53)	(51)	(50)	(48)	(44)	(39)	(34)	(30)	(30)	(32)	(35)	(39)	(42)	(46)	(50)	(53)	(56)	(56)	(56)	(55)	(56)	(57)	(57)	(57)	(56)	(54)	(53)
Depreciation & Amortization	(190)	(187)	(185)	(195)	(206)	(214)	(221)	(235)	(257)	(271)	(287)	(300)	(305)	(316)	(328)	(332)	(352)	(363)	(381)	(403)	(419)	(447)	(481)	(464)	(580)	(615)	(648)	(609)	(652)	(664)	(671)	(664)	(691)	(703)	(712)	(761)	(810)	(854)	(903)	(918)	(947)	(983)	(1 018)	(1 040)	(1 062)	(1 067)	(1 071)	(1 087)	(1 099)	(1 116)	(1 129)	(1 145)	(1 144)	(1 079)	(1 033)	(971)	(905)	(906)	(887)	(872)	(860)	(849)	(845)	(843)	(853)	(863)	(854)	(867)	(864)	(864)	(877)	(876)	(893)	(886)	(871)	(854)	(804)	(768)	(734)	(693)	(681)	(668)	(664)	(665)	(664)	(661)	(653)	(645)	(640)	(640)	(638)	(633)	(630)	(645)	(646)	(649)
Other Operating Expenses	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	(2)	0	0	0	0	(0)	0	0	(15)	1	0	0	1	(1)	(1)	0	(2)	12	6	(1)	(99)	(1)	(1)	(3)	(141)	(3)	(7)	(4)	(17)	(1)	3	(2)	(396)	(3)	(1)	(46)	(116)	(51)	(54)	(5)	(296)	(511)	(514)	(513)	7	9	16	13	(18)	(17)	(21)	(20)	(76)	(29)	(29)	(29)	0	(3)	1	(3)	(2)	(1)	(6)	(3)	(7)	(13)	(13)	(14)	(2)	5	3	(1)	(15)	(18)	(23)	(18)	(13)
Operating Income	495 N/A	369 -25%	231 -38%	192 -17%	186 -3%	185 0%	208 +12%	236 +14%	272 +15%	283 +4%	320 +13%	376 +18%	464 +23%	594 +28%	766 +29%	942 +23%	1 158 +23%	1 308 +13%	1 439 +10%	1 476 +3%	1 454 -1%	1 388 -5%	1 246 -10%	1 125 -10%	1 143 +2%	1 170 +2%	1 247 +7%	1 254 +1%	1 260 +0%	1 069 -15%	833 -22%	622 -25%	461 -26%	477 +4%	541 +13%	639 +18%	725 +13%	766 +6%	835 +9%	770 -8%	1 028 +34%	1 085 +6%	1 083 0%	767 -29%	767 0%	626 -18%	562 -10%	542 -4%	528 -2%	578 +10%	611 +6%	208 -66%	577 +178%	516 -11%	272 -47%	42 -85%	(35) N/A	(161) -360%	(192) -19%	(545) -184%	(811) -49%	(829) -2%	(830) 0%	(292) +65%	(231) +21%	(186) +20%	(122) +34%	(126) -4%	(93) +26%	(87) +6%	(93) -7%	(148) -58%	(126) +14%	(163) -29%	(241) -48%	(290) -20%	(323) -12%	(319) +1%	(278) +13%	(213) +23%	(177) +17%	(128) +28%	(56) +56%	38 N/A	142 +277%	221 +55%	248 +12%	268 +8%	261 -3%	242 -7%	251 +4%	233 -7%	218 -6%	229 +5%	247 +8%	250 +1%
Pre-Tax Income
Interest Income Expense	(31)	(36)	(45)	(52)	(57)	(65)	(62)	(61)	(58)	(51)	(49)	(45)	(41)	(37)	(37)	(39)	(34)	(31)	(28)	(25)	(23)	(30)	(33)	(134)	(88)	(129)	(161)	(389)	(502)	(534)	(540)	(428)	(370)	(349)	(339)	(258)	(228)	(219)	(204)	(155)	(272)	(418)	(559)	(481)	(396)	(243)	(135)	(133)	(194)	(191)	(180)	(173)	(167)	(169)	(201)	(255)	(435)	(491)	(459)	(412)	(252)	(206)	(214)	(223)	(230)	(240)	(241)	(241)	(229)	(214)	(221)	(215)	(221)	(221)	(222)	(217)	(204)	(194)	(174)	(175)	(255)	(270)	(231)	(266)	(150)	(120)	(163)	(124)	(153)	(172)	(170)	(183)	(181)	(184)	(190)	(185)
Non-Reccuring Items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	(2)	0	0	0	0	(2)	(2)	0	(145)	(161)	(392)	(394)	(55)	(238)	(11)	0	(59)	(10)	0	(8)	(111)	(3)	(8)	(9)	(157)	(208)	(202)	(443)	(289)	(255)	(256)	(15)	(648)	(982)	(984)	(1 172)	(216)	(739)	(780)	(593)	(227)	152	187	194	(46)	(47)	(113)	(131)	(140)	(137)	(165)	(151)	(219)	(520)	(441)	(431)	(187)	79	41	14	(76)	(84)	(25)	(10)	(11)	15	14	3	(1)	(29)	(26)	(41)	(54)	15	8	436	426
Gain/Loss on Disposition of Assets	0	0	0	1	0	0	0	(1)	(2)	4	3	5	2	(8)	(23)	(46)	(47)	(46)	(35)	(21)	(34)	9	(17)	(12)	(2)	(47)	(25)	0	(12)	3	1	(70)	(121)	(130)	(218)	(30)	(106)	(110)	(96)	11	(192)	(342)	(260)	148	4	155	155	(14)	(13)	(22)	(8)	9	8	20	(12)	2	229	200	214	(15)	(12)	19	16	(19)	(18)	(25)	(20)	(12)	(13)	(16)	(9)	(7)	(5)	1	(4)	(12)	(19)	(27)	(24)	(24)	(16)	(3)	(8)	(7)	(8)	(12)	(14)	(14)	(27)	(31)	(30)	(26)	(18)	(1)	3	47
Pre-Tax Income	464 N/A	333 -28%	186 -44%	141 -24%	128 -9%	121 -6%	145 +20%	175 +20%	211 +21%	235 +11%	273 +16%	336 +23%	425 +27%	549 +29%	706 +29%	857 +21%	1 077 +26%	1 231 +14%	1 376 +12%	1 428 +4%	1 397 -2%	1 367 -2%	1 195 -13%	979 -18%	1 051 +7%	992 -6%	1 060 +7%	719 -32%	585 -19%	146 -75%	(100) N/A	69 N/A	(267) N/A	(13) +95%	(16) -20%	294 N/A	381 +30%	437 +15%	527 +21%	515 -2%	560 +9%	318 -43%	255 -20%	277 +9%	167 -40%	336 +101%	139 -59%	106 -24%	67 -37%	110 +64%	408 +271%	(605) N/A	(565) +7%	(618) -9%	(1 114) -80%	(428) +62%	(980) -129%	(1 232) -26%	(1 029) +16%	(1 198) -16%	(923) +23%	(830) +10%	(835) -1%	(580) +31%	(527) +9%	(564) -7%	(513) +9%	(519) -1%	(472) +9%	(482) -2%	(475) +2%	(589) -24%	(872) -48%	(824) +5%	(899) -9%	(706) +21%	(468) +34%	(500) -7%	(462) +8%	(488) -6%	(531) -9%	(425) +20%	(305) +28%	(246) +19%	(1) +100%	103 N/A	74 -28%	129 +74%	52 -60%	12 -77%	10 -19%	(31) N/A	34 N/A	52 +54%	495 +845%	538 +8%
Net Income
Tax Provision	(158)	(105)	(39)	(19)	(1)	11	10	18	5	(2)	(15)	(33)	(67)	(105)	(160)	(219)	(299)	(365)	(405)	(435)	(404)	(372)	(289)	(179)	(201)	(185)	(252)	(200)	(194)	(115)	(13)	64	159	133	98	(37)	(73)	(101)	(119)	(165)	(167)	(94)	(53)	(41)	18	(24)	17	55	51	46	(60)	(63)	(28)	(84)	59	98	130	237	187	187	160	139	122	222	173	130	105	(79)	(86)	(74)	(87)	(92)	(80)	(73)	(45)	(57)	(49)	(70)	(76)	(56)	(60)	(44)	(54)	(62)	(71)	(88)	(86)	(79)	(72)	(61)	(61)	(57)	(56)	(63)	(171)	(163)
Income from Continuing Operations	307	228	147	122	128	131	155	192	216	233	259	303	358	444	547	638	778	865	971	993	993	995	906	801	851	806	808	519	392	31	(113)	133	(109)	120	82	257	308	336	408	350	393	224	202	236	186	312	156	161	118	156	348	(667)	(593)	(702)	(1 055)	(330)	(851)	(995)	(842)	(1 011)	(762)	(691)	(713)	(359)	(355)	(434)	(409)	(598)	(558)	(556)	(562)	(681)	(951)	(897)	(944)	(763)	(517)	(569)	(538)	(544)	(590)	(470)	(358)	(307)	(72)	15	(12)	50	(20)	(49)	(51)	(88)	(22)	(11)	325	374
Income to Minority Interest	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	(4)	0	1	(0)	0	0	1	1	(0)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(8)	(7)	(7)	(8)	(2)	(2)	(1)	(1)	(1)	0	(0)	(1)	2	0	(0)	(0)	(5)	(6)	(6)	(6)	(7)	(12)	(28)	(42)	(50)	(62)	(22)	(26)	(25)	(17)	(43)	(34)	(30)	(26)	(26)	(27)	(34)	(37)	(43)	(45)	(44)	(52)	(62)	(75)	(83)	(88)	(88)	(87)	(96)	(102)	(88)
Net Income (Common)	316 N/A	238 -25%	156 -34%	122 -22%	128 +5%	131 +3%	155 +18%	192 +24%	216 +12%	233 +8%	259 +11%	303 +17%	358 +18%	444 +24%	547 +23%	649 +19%	778 +20%	880 +13%	994 +13%	1 021 +3%	1 026 +1%	1 021 0%	946 -7%	866 -9%	881 +2%	829 -6%	805 -3%	476 -41%	389 -18%	20 -95%	(145) N/A	(86) +41%	(171) -100%	66 N/A	(3) N/A	95 N/A	137 +45%	286 +108%	400 +40%	249 -38%	295 +19%	30 -90%	31 +5%	165 +430%	131 -21%	198 +51%	18 -91%	139 +675%	88 -37%	156 +77%	364 +134%	(683) N/A	(611) +11%	(708) -16%	(1 103) -56%	(381) +66%	(892) -134%	(1 037) -16%	(856) +18%	(1 030) -20%	(785) +24%	(734) +7%	(770) -5%	(534) +31%	(532) +0%	(611) -15%	(587) +4%	(666) -13%	(650) +2%	(654) -1%	(661) -1%	(741) -12%	(1 014) -37%	(957) +6%	(994) -4%	(838) +16%	(581) +31%	(623) -7%	(583) +7%	(582) +0%	(626) -8%	(513) +18%	(405) +21%	(361) +11%	(134) +63%	(34) +74%	(67) -95%	(50) +25%	(101) -102%	(155) -53%	(169) -9%	(206) -22%	(140) +32%	(138) +1%	182 N/A	247 +36%
EPS (Diluted)	51 N/A	39.6 -22%	26.04 -34%	20.25 -22%	19.93 -2%	21.5 +8%	27.12 +26%	30.5 +12%	33.21 +9%	37.61 +13%	39.16 +4%	45.83 +17%	55.95 +22%	69.31 +24%	84.13 +21%	99.8 +19%	119.7 +20%	141.88 +19%	174.31 +23%	170.11 -2%	180.03 +6%	176.05 -2%	163.15 -7%	149.25 -9%	154.47 +3%	140.44 -9%	131.9 -6%	82.01 -38%	68.22 -17%	3.42 -95%	-25.43 N/A	-15 +41%	-29.41 -96%	11.37 N/A	-0.53 N/A	16.32 N/A	23.27 +43%	48.49 +108%	68.96 +42%	42.84 -38%	50.84 +19%	5.12 -90%	5.27 +3%	28.41 +439%	22.15 -22%	32.93 +49%	3.03 -91%	23.5 +676%	14.66 -38%	25.95 +77%	61.72 +138%	-117.74 N/A	-107.1 +9%	-124.28 -16%	-193.49 -56%	-66.75 +66%	-162.21 -143%	-188.54 -16%	-155.54 +18%	-187.21 -20%	-140.16 +25%	-131 +7%	-137.53 -5%	-95.28 +31%	-85.74 +10%	-81.45 +5%	-83.9 -3%	-99.43 -19%	-92.88 +7%	-93.48 -1%	-94.48 -1%	-105.87 -12%	-142.8 -35%	-134.77 +6%	-139.98 -4%	-118 +16%	-81.81 +31%	-83.07 -2%	-73.73 +11%	-76.63 -4%	-75.44 +2%	-56.41 +25%	-44.49 +21%	-40.52 +9%	-13.77 +66%	-3.94 +71%	-7.34 -86%	-5.49 +25%	-11.04 -101%	-16.8 -52%	-18.34 -9%	-22.37 -22%	-11.95 +47%	-9.81 +18%	11.89 N/A	17.15 +44%

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Nabors Industries Ltd
NYSE:NBR

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Nabors Industries Ltd NYSE:NBR

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Income Statement Nabors Industries Ltd

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Nabors Industries Ltd
NYSE:NBR

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Nabors Industries Ltd

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Nabors Industries Ltd