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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 7/10

vs
industry
vs
history
Cash to Debt 1.30
NOV's Cash to Debt is ranked higher than
85% of the 453 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 0.33 vs. NOV: 1.30 )
NOV' s 10-Year Cash to Debt Range
Min: 0.05   Max: 7.56
Current: 1.3

0.05
7.56
Equity to Asset 0.63
NOV's Equity to Asset is ranked higher than
84% of the 467 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 0.48 vs. NOV: 0.63 )
NOV' s 10-Year Equity to Asset Range
Min: 0.15   Max: 0.71
Current: 0.63

0.15
0.71
Interest Coverage 30.84
NOV's Interest Coverage is ranked higher than
81% of the 293 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 11.34 vs. NOV: 30.84 )
NOV' s 10-Year Interest Coverage Range
Min: 1.42   Max: 73.43
Current: 30.84

1.42
73.43
F-Score: 5
Z-Score: 3.48
M-Score: -2.78
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 7/10

vs
industry
vs
history
Operating margin (%) 15.23
NOV's Operating margin (%) is ranked higher than
85% of the 477 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 9.78 vs. NOV: 15.23 )
NOV' s 10-Year Operating margin (%) Range
Min: 2.95   Max: 21.72
Current: 15.23

2.95
21.72
Net-margin (%) 10.03
NOV's Net-margin (%) is ranked higher than
86% of the 477 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 5.20 vs. NOV: 10.03 )
NOV' s 10-Year Net-margin (%) Range
Min: 0.03   Max: 14.53
Current: 10.03

0.03
14.53
ROE (%) 11.72
NOV's ROE (%) is ranked higher than
86% of the 476 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 7.99 vs. NOV: 11.72 )
NOV' s 10-Year ROE (%) Range
Min: 0.38   Max: 26.22
Current: 11.72

0.38
26.22
ROA (%) 7.41
NOV's ROA (%) is ranked higher than
88% of the 481 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 3.72 vs. NOV: 7.41 )
NOV' s 10-Year ROA (%) Range
Min: 0.19   Max: 12.65
Current: 7.41

0.19
12.65
ROC (Joel Greenblatt) (%) 40.86
NOV's ROC (Joel Greenblatt) (%) is ranked higher than
95% of the 479 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 11.81 vs. NOV: 40.86 )
NOV' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: 5.28   Max: 80.51
Current: 40.86

5.28
80.51
Revenue Growth (%) 22.60
NOV's Revenue Growth (%) is ranked higher than
92% of the 409 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 11.30 vs. NOV: 22.60 )
NOV' s 10-Year Revenue Growth (%) Range
Min: -13.3   Max: 31.9
Current: 22.6

-13.3
31.9
EBITDA Growth (%) 11.80
NOV's EBITDA Growth (%) is ranked higher than
82% of the 352 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 8.10 vs. NOV: 11.80 )
NOV' s 10-Year EBITDA Growth (%) Range
Min: -19.3   Max: 88.7
Current: 11.8

-19.3
88.7
EPS Growth (%) 11.00
NOV's EPS Growth (%) is ranked higher than
80% of the 296 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 7.70 vs. NOV: 11.00 )
NOV' s 10-Year EPS Growth (%) Range
Min: -46.1   Max: 80.4
Current: 11

-46.1
80.4
» NOV's 10-Y Financials

Financials


Revenue & Net Income
Cash & Debt
Oprt. Cash Flow & Free Cash Flow

» Details

Guru Trades

Q4 2013

NOV Guru Trades in Q4 2013

Joel Greenblatt 46,687 sh (New)
Ray Dalio 19,417 sh (New)
David Dreman 2,019 sh (New)
Jim Simons 179,880 sh (New)
Lee Ainslie 2,672,816 sh (+116.74%)
Sarah Ketterer 796,200 sh (+28.4%)
Frank Sands 12,756,952 sh (+25.62%)
Ron Baron 7,043 sh (+22.64%)
Tom Gayner 242,000 sh (+14.69%)
Jean-Marie Eveillard 4,141,957 sh (+9.76%)
James Barrow 1,490,328 sh (+7.7%)
David Rolfe 1,734,990 sh (+6.1%)
Manning & Napier Advisors, Inc 25,410 sh (+0.71%)
Bill Nygren 2,300,000 sh (unchged)
Warren Buffett 8,880,000 sh (unchged)
Tweedy Browne Global Value 132,900 sh (unchged)
Tweedy Browne 331,370 sh (unchged)
Chuck Royce 6,000 sh (unchged)
Louis Moore Bacon Sold Out
PRIMECAP Management 1,301,288 sh (-1.67%)
Pioneer Investments 500,407 sh (-2.18%)
John Rogers 106,425 sh (-4.05%)
Jeremy Grantham 96,900 sh (-7.36%)
Robert Olstein 87,000 sh (-10.31%)
Ken Fisher 2,714 sh (-24.08%)
Steven Cohen 7,818 sh (-59.98%)
» More
Q1 2014

NOV Guru Trades in Q1 2014

Dodge & Cox 13,104,983 sh (New)
Leon Cooperman 183,200 sh (New)
Paul Tudor Jones 11,926 sh (New)
David Einhorn 1,225,000 sh (New)
Caxton Associates 40,000 sh (New)
Steven Cohen 219,262 sh (+2704.58%)
Jim Simons 1,062,110 sh (+490.45%)
Ray Dalio 58,817 sh (+202.91%)
Joel Greenblatt 123,513 sh (+164.56%)
Jean-Marie Eveillard 7,334,436 sh (+77.08%)
David Dreman 2,774 sh (+37.39%)
Tom Gayner 312,000 sh (+28.93%)
Sarah Ketterer 961,475 sh (+20.76%)
Bill Nygren 2,700,000 sh (+17.39%)
John Rogers 124,519 sh (+17%)
David Rolfe 1,978,515 sh (+14.04%)
Jeremy Grantham 105,000 sh (+8.36%)
Tweedy Browne 346,923 sh (+4.69%)
Robert Olstein 90,000 sh (+3.45%)
Frank Sands 13,025,960 sh (+2.11%)
Ken Fisher 2,763 sh (+1.81%)
Chuck Royce 6,000 sh (unchged)
Tweedy Browne Global Value 132,900 sh (unchged)
Warren Buffett 8,880,000 sh (unchged)
Manning & Napier Advisors, Inc Sold Out
Signature Select Canadian Fund Sold Out
PRIMECAP Management 1,291,086 sh (-0.78%)
Pioneer Investments 472,921 sh (-5.49%)
Ron Baron 6,563 sh (-6.82%)
James Barrow 1,282,646 sh (-13.94%)
Lee Ainslie 1,704,351 sh (-36.23%)
» More
Q2 2014

NOV Guru Trades in Q2 2014

Mario Gabelli 13,500 sh (New)
George Soros 150,997 sh (New)
Larry Robbins 5,292,631 sh (New)
David Einhorn 1,754,147 sh (+43.2%)
Jean-Marie Eveillard 10,416,773 sh (+42.03%)
PRIMECAP Management 1,776,586 sh (+37.6%)
David Dreman 3,674 sh (+32.44%)
Bill Nygren 3,540,000 sh (+31.11%)
Tom Gayner 393,000 sh (+25.96%)
Joel Greenblatt 154,406 sh (+25.01%)
Leon Cooperman 229,000 sh (+25%)
Sarah Ketterer 1,161,775 sh (+20.83%)
James Barrow 1,430,486 sh (+11.53%)
David Rolfe 2,196,060 sh (+11%)
John Rogers 136,710 sh (+9.79%)
Tweedy Browne 371,773 sh (+7.16%)
Dodge & Cox 13,783,733 sh (+5.18%)
Frank Sands 13,077,634 sh (+0.4%)
Tweedy Browne Global Value 132,900 sh (unchged)
Chuck Royce 6,000 sh (unchged)
Ken Fisher Sold Out
Lee Ainslie Sold Out
Caxton Associates Sold Out
Jim Simons Sold Out
Paul Tudor Jones Sold Out
Pioneer Investments 469,266 sh (-0.77%)
Ron Baron 5,943 sh (-9.45%)
Warren Buffett 7,302,278 sh (-17.77%)
Robert Olstein 66,000 sh (-26.67%)
Jeremy Grantham 72,769 sh (-30.7%)
Ray Dalio 19,217 sh (-67.33%)
» More
Q3 2014

NOV Guru Trades in Q3 2014

Ken Fisher 3,242 sh (New)
Jim Simons 307,010 sh (New)
John Hussman 50,000 sh (New)
Ray Dalio 93,303 sh (+385.52%)
Mario Gabelli 19,400 sh (+43.7%)
David Einhorn 2,222,162 sh (+26.68%)
Joel Greenblatt 172,689 sh (+11.84%)
Jean-Marie Eveillard 11,329,924 sh (+8.77%)
Tom Gayner 424,000 sh (+7.89%)
David Rolfe 2,332,028 sh (+6.19%)
Ron Baron 6,243 sh (+5.05%)
Dodge & Cox 13,989,033 sh (+1.49%)
Frank Sands 13,213,124 sh (+1.04%)
PRIMECAP Management 1,784,041 sh (+0.42%)
John Rogers 137,143 sh (+0.32%)
Chuck Royce 6,000 sh (unchged)
Tweedy Browne Global Value 132,900 sh (unchged)
Paul Singer 1,350,000 sh (unchged)
Bill Nygren 3,540,000 sh (unchged)
Leon Cooperman Sold Out
James Barrow Sold Out
George Soros Sold Out
Tweedy Browne 371,288 sh (-0.13%)
Pioneer Investments 468,609 sh (-0.14%)
Jeremy Grantham 71,969 sh (-1.1%)
Sarah Ketterer 1,097,075 sh (-5.57%)
Larry Robbins 4,855,731 sh (-8.25%)
Warren Buffett 6,382,360 sh (-12.6%)
David Dreman 3,085 sh (-16.03%)
Robert Olstein 40,000 sh (-39.39%)
» More
» Details

Insider Trades

Latest Guru Trades with NOV

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
David Einhorn 2014-09-30 Add 26.68%0.51%$77.93 - $86.43 $ 73.82-11%2222162
John Hussman 2014-09-30 New Buy0.33%$77.93 - $86.43 $ 73.82-11%50000
Robert Olstein 2014-09-30 Reduce -39.39%0.29%$77.93 - $86.43 $ 73.82-11%40000
Leon Cooperman 2014-09-30 Sold Out 0.25%$77.93 - $86.43 $ 73.82-11%0
Jean-Marie Eveillard 2014-09-30 Add 8.77%0.17%$77.93 - $86.43 $ 73.82-11%11329924
James Barrow 2014-09-30 Sold Out 0.16%$77.93 - $86.43 $ 73.82-11%0
George Soros 2014-09-30 Sold Out 0.09%$77.93 - $86.43 $ 73.82-11%0
Ray Dalio 2014-09-30 Add 385.52%0.04%$77.93 - $86.43 $ 73.82-11%93303
Ken Fisher 2014-09-30 New Buy$77.93 - $86.43 $ 73.82-11%3242
Mario Gabelli 2014-09-30 Add 43.7%$77.93 - $86.43 $ 73.82-11%19400
Lee Ainslie 2014-06-30 Sold Out 1.9%$69.565 - $82.63 $ 73.82-1%0
Jean-Marie Eveillard 2014-06-30 Add 42.03%0.62%$69.565 - $82.63 $ 73.82-1%10416773
David Einhorn 2014-06-30 Add 43.2%0.6%$69.565 - $82.63 $ 73.82-1%1754147
Bill Nygren 2014-06-30 Add 31.11%0.5%$69.565 - $82.63 $ 73.82-1%3540000
Robert Olstein 2014-06-30 Reduce -26.67%0.26%$69.565 - $82.63 $ 73.82-1%66000
Tom Gayner 2014-06-30 Add 25.96%0.19%$69.565 - $82.63 $ 73.82-1%393000
Warren Buffett 2014-06-30 Reduce -17.77%0.12%$69.565 - $82.63 $ 73.82-1%7302278
George Soros 2014-06-30 New Buy0.09%$69.565 - $82.63 $ 73.82-1%150997
Leon Cooperman 2014-06-30 Add 25%0.05%$69.565 - $82.63 $ 73.82-1%229000
PRIMECAP Management 2014-06-30 Add 37.6%0.04%$69.565 - $82.63 $ 73.82-1%1776586
Joel Greenblatt 2014-06-30 Add 25.01%0.03%$69.565 - $82.63 $ 73.82-1%154406
Ray Dalio 2014-06-30 Reduce -67.33%0.02%$69.565 - $82.63 $ 73.82-1%19217
Mario Gabelli 2014-06-30 New Buy0.01%$69.565 - $82.63 $ 73.82-1%13500
David Dreman 2014-06-30 Add 32.44%0.01%$69.565 - $82.63 $ 73.82-1%3674
Ken Fisher 2014-06-30 Sold Out $69.565 - $82.63 $ 73.82-1%0
David Einhorn 2014-03-31 New Buy1.4%$65.79 - $71.9 $ 73.828%1225000
Dodge & Cox 2014-03-31 New Buy1%$65.79 - $71.9 $ 73.828%13104983
Lee Ainslie 2014-03-31 Reduce -36.23%0.98%$65.79 - $71.9 $ 73.828%1704351
Jean-Marie Eveillard 2014-03-31 Add 77.08%0.65%$65.79 - $71.9 $ 73.828%7334436
Bill Nygren 2014-03-31 Add 17.39%0.25%$65.79 - $71.9 $ 73.828%2700000
Leon Cooperman 2014-03-31 New Buy0.19%$65.79 - $71.9 $ 73.828%183200
Tom Gayner 2014-03-31 Add 28.93%0.17%$65.79 - $71.9 $ 73.828%312000
Joel Greenblatt 2014-03-31 Add 164.56%0.09%$65.79 - $71.9 $ 73.828%123513
Ray Dalio 2014-03-31 Add 202.91%0.02%$65.79 - $71.9 $ 73.828%58817
David Dreman 2014-03-31 Add 37.39%$65.79 - $71.9 $ 73.828%2774
Lee Ainslie 2013-12-31 Add 116.74%1.45%$70.06 - $75.95 $ 73.822%2672816
Frank Sands 2013-12-31 Add 25.62%0.55%$70.06 - $75.95 $ 73.822%12756952
Robert Olstein 2013-12-31 Reduce -10.31%0.12%$70.06 - $75.95 $ 73.822%87000
Joel Greenblatt 2013-12-31 New Buy0.09%$70.06 - $75.95 $ 73.822%46687
David Dreman 2013-12-31 New Buy0.01%$70.06 - $75.95 $ 73.822%2019
Ray Dalio 2013-12-31 New Buy0.01%$70.06 - $75.95 $ 73.822%19417
Ken Fisher 2013-12-31 Reduce -24.08%$70.06 - $75.95 $ 73.822%2714
Ron Baron 2013-12-31 Add 22.64%$70.06 - $75.95 $ 73.822%7043
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Guru Investment Theses on National Oilwell Varco Inc

Tweedy Browne Comments on National Oilwell Varco - Nov 26, 2013

National Oilwell Varco (NOV)'s stock symbol is NOV, and industry experts insist it really stands for "no other vendor" as it is the almost universally preferred manufacturer of offshore drilling rig equipment in the global oil & gas industry. It has a leading market position in the segments of the oil & gas industry that are generating the most growth, deepwater drilling and shale drilling. The company has historically generated high returns on capital, has what we believe to be a conservative balance sheet with minimal debt, and, given the uncertainty associated with near term growth of drilling equipment orders, we were able to purchase shares at a significant discount to our estimate of the company's intrinsic value.

From Tweedy Browne's 2013 semi-annual report.
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Tweedy, Browne Comments on National Oilwell Varco - Jul 25, 2013

The other new holding is National Oilwell Varco (NOV), a leading global manufacturer of drilling rig equipment and consumables to the energy industry. It has a leading market position in the segments of the oil & gas industry that are generating the most growth, deepwater drilling and shale drilling. The company has historically generated high returns on capital, has what we believe to be a conservative balance sheet with minimal debt, and at purchase was trading at a significant discount to our estimate of the company's intrinsic value.

From Tweedy Browne's second quarter 2013 letter.
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Bill Nygren Comments on National Oilwell Varco - Jul 11, 2013

National Oilwell Varco (NOV - $69)(NOV)
National Oilwell is one of the world’s largest providers of equipment for oil and gas drilling. Drill rig equipment accounts for about half its sales with the other half a diverse assortment of pipes, pumps, tools, consumables and a distribution business. Last year the stock reached $90, which was 14 times earnings plus amortization. Earnings in the first half of this year are expected to be down about 5%, primarily due to decreased drilling caused by lower natural gas prices. Despite the relatively small dip in earnings, the stock fell 30% to a low of $63 this past quarter. We expect earnings to begin to recover later this year, and we believe that next year could be the most profitable in the company’s history. Earnings growth should be led by a rebound in the global land rig count, continued strong deepwater equipment orders and the benefits reaped from several meaningful acquisitions. Though National Oilwell’s stock has recovered somewhat, it is still priced at less than 10 times estimated 2014 earnings plus amortization. Given that National Oilwell controls more than 50% of the deepwater equipment market and the company’s very high returns on tangible capital, we believe the current valuation is attractive.

From Bill Nygren's second quarter 2013 commentary.
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David Rolfe of Wedgewood Partners Comments on National Oilwell Varco - Jan 29, 2013

When it comes to the global oil service business National Oilwell Varco (NOV) is truly a jack-of-all-trades. Over the many decades the Company has been uniquely successful through countless mergers and acquisitions by both vertically and horizontally integrating their plethora of products and services. Indeed, the Company has been so successful in offering a global one-stop-shop that their well-known industry sobriquet is "No Other Vender." The Company traces its roots to its founding in antebellum Houston in 1841. The Company's two main predecessors, Oilwell Supply and National Supply were founded in 1862 and 1893, respectively. Varco took its formal name in 1915 from three key partners – Edgar Vuilleumiere, Walter Abegg and Baldwin Reinhold. Fastforwarding into the 20th century finds Oilwell Supply acquired by U.S. Steel in 1930 and in 1958 Armco Steel merged with National Supply. In 1987, National Supply merged with USS Oilwell to become National Oilwell. The Company finally took its current name and form when in 2005 National Oilwell and Varco merged to become National Oilwell Varco.

The Company's current, and enduring competitive advantage must be credited to the singular foresight and vision of CEO Pete Miller. Miller began his career at the Company in 1996, and was named CEO in 2001. Miller foresaw that the oil service business was woefully wedded in the past philosophy of custom drilling rigs and related custom repair parts and services. His revolutionary view was that manifold advances in oil well productivity and efficiency could be achieved via standardization. Furthermore, the first-mover advantage of the company which could lead the consolidation of this fragmented industry would be uniquely positioned – potentially reaping the benefits of less severe boom-bust orders, capturing a greater percentage of contract bill-of-goods and a concomitant stream of annuity-like service and repair part revenues. Miller and team thus began an orchestrated 15-year string of +300 deals – including nearly $6 billion over the past 18 months alone. Keystone Miller acquisitions include the $2.4 billion acquisition of Varco in 2005 and the $7.4 billion purchase of Grant Prideco in 2007.

Fast forward to late 2012, the Company stands astride the global oil services industry like no other. Leveraging over 800 worldwide manufacturing, sales and service centers, National Oilwell Varco is a global leader in providing major mechanical components and integrated solutions for both land and offshore drilling rigs. Post-Macondo, the Company's integration of deep-sea rig technology, with the magnified emphasis of safety, has put the Company in a class by itself. In addition, with a growing panoply of 139 brands, which include complete land drilling and well servicing rigs, tubular inspection and internal tubular coatings, drill string equipment, extensive lifting and handling equipment, and a broad offering of downhole drilling motors, bits and tools, as well as supply chain services through though the Company's network of distribution service centers, all located near major drilling and production activity, it is literally impossible to drill or operate an oil well or rig without calling Houston. The tale of the standardization-consolidation tape underscores Miller's vision. Little more than ten years ago the Company could only scratch out middling single-digit pre-tax operating margins. Over the past few years the Company has consistently generated pre-tax operating margins of around 19%-20%. The Company has also cut their financial leverage by 25% over the past decade. Returns on equity and invested capital have doubled has well.

The stock was essentially flat in 2012 reflecting the continued decline in North America in both oil and gas rig count. U.S. rig count has doubled since the mid-2009 bottom, plus (according to CFO Clay Williams) an "unprecedented surge" in U.S. oil production has created a "new parsimoniousness…sweeping through the North American oil complex." Rig counts are down over 168 since the beginning of 2012. Due to an over-supplied market and "fierce" price competition the Company's new North American rig orders have ground to a halt.

A notable bright spot in North America is the Company's omnipresent in the booming shale industry – which continues to be a unique American success story. The EIA recently reported that due to the surge in U.S. energy production (led by North Dakota and Texas) net oil imports in 2012 would account for little more than 40% of U.S. oil consumption – the lowest dependence in foreign oil since 1992. The oil production in Texas has doubled over the past three years and has reached a level of output last recorded in 1987. Not to be outdone, Pennsylvania's natural gas production has quadrupled since just 2009. A renaissance is emerging in the cost-competiveness in U.S. manufacturing due to the "flipping of the energy equation" with abundant and cheap natural gas. Credit such cutting edge technology such as expanded horizontal drilling and hydraulic fracturing. National Oilwell Varco is a leader in both technologies. (On a related note: Berkshire Hathaway owned Burlington Northern railroad expects to boost daily crude-oil shipments in 2013 by 40% to 700,000 barrels – in large part from Bakken shale. In addition, Union Tank Car Company – which is owned by Chicago-based Marmon; which in turn is 60% owned by Berkshire – is scrambling to increase their +80,000 fleet of leased tank cars).

However, outside of the gloom in North America, the Company has reported extensive customer activity in nearly every corner of the globe. Key international markets include Argentina, Kuwait, Algeria, Saudi Arabia, Brazil, Oman, Iraq and Indonesia. The Company has increased its investments in Eastern Europe, Russia, Africa and Latin America. The sweet spot for the Company continues to be deepwater offshore. New technologies are driving the fleet growth of next generation large deepwater rigs. Once again, from CFO Williams, "Shipyards are underemployed, hungry, and aggressive on pricing. Deepwater day rates are high and rising. Capital is available and cheap. Construction time is shortening, and execution risk is approaching zero, at least for our customers. Importantly, this situation has been stable for eight-plus quarters, and our deepwater drilling contractor customers seem to be exhibiting a growing confidence with what we hope is a new era."

We remain cognizant that the oil 'bidness is not for the faint of heart – for both companies and investors. We also continue to be of the opinion that the best business models in this industry are the best-in-technology-class service companies. We believe we own two of the very best in both National Oilwell Varco and Schlumberger. That said, when it comes to the shares of such companies, we continue to give wide berth in swings of valuation in our purchase and sales – particularly our purchases. While the valuation of the Company shares are, in our opinion, not demanding at current prices, we require a larger margin of safety to increase our current holdings.

From Wedgewood Partners' fourth quarter letter.


Check out David Rolfe latest stock trades

Top Ranked Articles about National Oilwell Varco Inc

Now Inc Has The Characteristics Of A Successful Spinoff
In general, spinoffs have outperformed the S&P 500 in their first few years of trading. There are two recent articles on GuruFocus providing information on spinoffs and their outperformance: Read more...
Top 5 Net Buys Of The Investing Gurus
The top net buys of the investing gurus in Q1 of 2014 were American Airlines (AAL), National Oilwell Varco (NOV), Gaming and Leisure Properties (GLPI), Symantec (SYMC), and Verizon (VZ). I found the net buys by using the S&P 500 Grid at GuruFocus. I adjusted the settings to include all investors and examined the results for both S&P 500 companies and non-S&P 500 companies. Read more...
Tweedy Browne Increases Holdings of 3 Stocks in First Quarter
Tweedy Browne (Trades, Portfolio), the famous value firm founded in 1920 and managing $20.9 billion in assets at last quarter-end, was sparing in its purchasing in the first quarter. For the second consecutive quarter, it bought no new stocks and added to only a few. In the first quarter of the year, it added more shares to only three holdings: Banco Santander Brasil SA (BSBR), National Oilwell Varco Inc. (NOV) and Philip Morris International Inc. (PM). Read more...
Schlumberger Ltd (SLB): Solid Company and Growing
Current Price: $100.22 Read more...
NOV - Growth Opportunities Exist
Summary Read more...
Tweedy Browne Comments on National Oilwell Varco
National Oilwell Varco (NOV)'s stock symbol is NOV, and industry experts insist it really stands for "no other vendor" as it is the almost universally preferred manufacturer of offshore drilling rig equipment in the global oil & gas industry. It has a leading market position in the segments of the oil & gas industry that are generating the most growth, deepwater drilling and shale drilling. The company has historically generated high returns on capital, has what we believe to be a conservative balance sheet with minimal debt, and, given the uncertainty associated with near term growth of drilling equipment orders, we were able to purchase shares at a significant discount to our estimate of the company's intrinsic value. Read more...

Ratios

vs
industry
vs
history
P/E(ttm) 12.40
NOV's P/E(ttm) is ranked higher than
88% of the 511 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 22.20 vs. NOV: 12.40 )
NOV' s 10-Year P/E(ttm) Range
Min: 3.87   Max: 37.69
Current: 12.4

3.87
37.69
P/B 1.48
NOV's P/B is ranked higher than
77% of the 511 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 1.42 vs. NOV: 1.48 )
NOV' s 10-Year P/B Range
Min: 0.62   Max: 3.97
Current: 1.48

0.62
3.97
P/S 1.24
NOV's P/S is ranked higher than
76% of the 511 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 1.09 vs. NOV: 1.24 )
NOV' s 10-Year P/S Range
Min: 0.56   Max: 2.73
Current: 1.24

0.56
2.73
PFCF 11.77
NOV's PFCF is ranked higher than
93% of the 511 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 9999.00 vs. NOV: 11.77 )
NOV' s 10-Year PFCF Range
Min: 3.87   Max: 952.71
Current: 11.77

3.87
952.71
EV-to-EBIT 7.94
NOV's EV-to-EBIT is ranked higher than
95% of the 511 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 14.83 vs. NOV: 7.94 )
NOV' s 10-Year EV-to-EBIT Range
Min: 2.5   Max: 37.1
Current: 7.94

2.5
37.1
PEG 1.04
NOV's PEG is ranked higher than
93% of the 511 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 9999.00 vs. NOV: 1.04 )
NOV' s 10-Year PEG Range
Min: 0.04   Max: 16.17
Current: 1.04

0.04
16.17
Shiller P/E 14.36
NOV's Shiller P/E is ranked higher than
91% of the 511 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 104.49 vs. NOV: 14.36 )
NOV' s 10-Year Shiller P/E Range
Min: 8.83   Max: 59.09
Current: 14.36

8.83
59.09
Current Ratio 2.31
NOV's Current Ratio is ranked higher than
82% of the 475 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 1.81 vs. NOV: 2.31 )
NOV' s 10-Year Current Ratio Range
Min: 1.63   Max: 4.34
Current: 2.31

1.63
4.34
Quick Ratio 1.56
NOV's Quick Ratio is ranked higher than
78% of the 475 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 1.50 vs. NOV: 1.56 )
NOV' s 10-Year Quick Ratio Range
Min: 1.03   Max: 2.13
Current: 1.56

1.03
2.13

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield 1.95
NOV's Dividend Yield is ranked lower than
62% of the 306 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 2.85 vs. NOV: 1.95 )
NOV' s 10-Year Dividend Yield Range
Min: 0.24   Max: 2.05
Current: 1.95

0.24
2.05
Dividend Payout 0.24
NOV's Dividend Payout is ranked higher than
93% of the 511 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 9999.00 vs. NOV: 0.24 )
NOV' s 10-Year Dividend Payout Range
Min: 0.08   Max: 0.32
Current: 0.24

0.08
0.32
Dividend growth (3y) 30.40
NOV's Dividend growth (3y) is ranked higher than
92% of the 168 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 13.40 vs. NOV: 30.40 )
NOV' s 10-Year Dividend growth (3y) Range
Min: 0   Max: 69.8
Current: 30.4

0
69.8
Yield on cost (5-Year) 19.88
NOV's Yield on cost (5-Year) is ranked higher than
93% of the 314 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 3.92 vs. NOV: 19.88 )
NOV' s 10-Year Yield on cost (5-Year) Range
Min: 2.39   Max: 20.38
Current: 19.88

2.39
20.38
Share Buyback Rate -0.70
NOV's Share Buyback Rate is ranked higher than
87% of the 388 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: -2.00 vs. NOV: -0.70 )
NOV' s 10-Year Share Buyback Rate Range
Min: -0.7   Max: -27.8
Current: -0.7

Valuation & Return

vs
industry
vs
history
Price/Tangible Book 3.87
NOV's Price/Tangible Book is ranked higher than
68% of the 511 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 1.92 vs. NOV: 3.87 )
NOV' s 10-Year Price/Tangible Book Range
Min: 2.14   Max: 15.8
Current: 3.87

2.14
15.8
Price/DCF (Projected) 0.79
NOV's Price/DCF (Projected) is ranked higher than
95% of the 511 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 30.25 vs. NOV: 0.79 )
NOV' s 10-Year Price/DCF (Projected) Range
Min: 0.46   Max: 8.18
Current: 0.79

0.46
8.18
Price/Median PS Value 0.85
NOV's Price/Median PS Value is ranked higher than
77% of the 511 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 0.84 vs. NOV: 0.85 )
NOV' s 10-Year Price/Median PS Value Range
Min: 0.35   Max: 2.06
Current: 0.85

0.35
2.06
Price/Peter Lynch Fair Value 1.02
NOV's Price/Peter Lynch Fair Value is ranked higher than
94% of the 511 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 9999.00 vs. NOV: 1.02 )
NOV' s 10-Year Price/Peter Lynch Fair Value Range
Min: 0.18   Max: 3.91
Current: 1.02

0.18
3.91
Price/Graham Number 1.43
NOV's Price/Graham Number is ranked higher than
81% of the 511 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 1.62 vs. NOV: 1.43 )
NOV' s 10-Year Price/Graham Number Range
Min: 0.79   Max: 14.2
Current: 1.43

0.79
14.2
Earnings Yield (Greenblatt) 12.60
NOV's Earnings Yield (Greenblatt) is ranked higher than
95% of the 476 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 7.20 vs. NOV: 12.60 )
NOV' s 10-Year Earnings Yield (Greenblatt) Range
Min: 2.7   Max: 40.2
Current: 12.6

2.7
40.2
Forward Rate of Return (Yacktman) 16.24
NOV's Forward Rate of Return (Yacktman) is ranked higher than
88% of the 393 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 4.40 vs. NOV: 16.24 )
NOV' s 10-Year Forward Rate of Return (Yacktman) Range
Min: 2.8   Max: 97.9
Current: 16.24

2.8
97.9

Business Description

Industry: Oil & Gas - Services » Oil & Gas Equipment & Services
Compare:SPN, GLF, HAL, SAPMY, CAM » details
Traded in other countries:NO8.Germany, NOV.Mexico
National Oilwell Varco, Inc., a Delaware corporation incorporated in 1995, is a provider of equipment and components used in oil and gas drilling and production operations, oilfield services, and supply chain integration services to the upstream oil and gas industry. The Company conducts operations in over 1,235 locations across six continents. It operates through three business segments, Rig Technology, Petroleum Services & Supplies and Distribution & Transmission Services. The Company's Rig Technology segment designs, manufactures, sells and services complete systems for the drilling, completion, and servicing of oil and gas wells. The segment offers engineered equipment that automates complex well construction and management operations, such as offshore and onshore drilling rigs, derricks, pipe lifting, racking, rotating and assembly systems, coiled tubing equipment and pressure pumping units, well workover rigs, wireline winches and cranes. Demand for Rig Technology products is mainly dependent on capital spending plans by drilling contractors, oilfield service companies, and oil and gas companies, and secondarily on the overall level of oilfield drilling activity, which drives demand for spare parts for the segment's large installed base of equipment. The Company's Petroleum Services & Supplies segment provides consumable goods and services used to drill, complete, and remediate & workover oil and gas wells and service pipelines, flowlines and other oilfield tubular goods. The segment manufactures rents and sells products and equipment used to perform drilling operations, including transfer pumps, solids control systems, drilling motors and other downhole tools, rig instrumentation systems, and mud pump consumables. Demand for these services and supplies is determined principally by the level of oilfield drilling and workover activity by drilling contractors, major and independent oil and gas companies, and national oil companies. Oilfield tubular services include the provision of inspection and internal coating services &equipment for drillpipe, linepipe, tubing, casing and pipelines, and the design, manufacture and sale of coiled tubing pipe and advanced composite pipe for application in highly corrosive environments. The segment sells its tubular goods and services to oil and gas companies, drilling contractors, pipe distributors, processors and manufacturers, and pipeline operators. The Company's Distribution & Transmission Services segment provide maintenance, repair and operating supplies and spare parts to drill site and production locations worldwide. In addition to its network of field locations supporting land drilling operations throughout North America, the segment supports major offshore drilling contractors through locations in the Middle East, Europe, Southeast Asia and South America. Demand for the segment's services are determined mainly by the level of drilling and servicing activity, and oil and gas produc
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