Financial Analysis
Filing-based analysis. Market pricing is not included. Fundamentals from SEC filings; economic data from FRED and the BLS. About our data
Filing evidence summary
Mixed evidenceCoverage 5/5 core metricsOperating margin changed -7.9 percentage points from the prior annual period.
Backward-looking filed evidence under visible rules - not a rating, forecast or investment advice. Missing data is never scored.
Evidence signals
- Operating margin compressed
Operating margin changed -7.9 percentage points from the prior annual period.
Why this surfaced
Direction threshold: more than +1 percentage point constructive; below -1 point caution. Period end 2025-12-31.
- 3 filing risk checks flagged
Flagged areas: Earnings quality.
Why this surfaced
The full financial analysis shows each value, threshold, and sector limitation.
- Revenue expanded
Latest reported annual revenue changed +18.8% from the prior reported annual observation.
Why this surfaced
Direction threshold: above +2% constructive; below -2% caution; otherwise monitor. This is not labeled one-year growth when filing periods have a gap. Period end 2025-12-31.
- Free cash flow was positive
Latest reported free cash flow was $134M.
Why this surfaced
Free cash flow = operating cash flow minus capital expenditures; positive is supporting evidence, not a valuation conclusion. Period end 2025-12-31.
Core trend metrics
Hover a tile for its exact definition; the Statements tab carries per-cell filing citations.
Where to look next
Risk checks
- Earnings quality
Financial movement
- Cash→ flat
- Long-term debt→ flat
- Inventory→ flat
- Receivables→ flat
- Current assets→ flat
Source & freshness
- Source
- SEC EDGAR XBRL
- Fetched
- 2026-09-06
- Latest period end
- 2025-12-31
- Filings
- EDGAR ↗
Reported segment mix
figures as filed · share of the filed sum · change vs the prior period in the same filing- Upstream$1.76B62.3%+4.9% yoy
- Midstream$590M20.9%+30.5% yoy
- Downstream And Industrial$288M10.2%+41.2% yoy
- Gas Utilities$185M6.6%+340.5% yoy
Members sum to the consolidated $2.82B for this period.
- United States$2.29B81.3%+22.0% yoy
- International$312M11.1%+30.0% yoy
- Canada$214M7.6%-15.4% yoy
Members sum to the consolidated $2.82B for this period.
- United States-$106M114.0%-216.5% yoy
- Canada$8M-8.6%-38.5% yoy
- International$5M-5.4%0.0% yoy
Members sum to the consolidated -$93M for this period.
- Upstream$468M39.6%+11.7% yoy
- Gas Utilities$269M22.7%+3262.5% yoy
- Downstream And Industrial$233M19.7%+395.7% yoy
- Midstream$213M18.0%+70.4% yoy
Change is against the same quarter a year earlier, as reported in the same 10-Q.
Source: SEC DERA Financial Statement and Notes data sets. Dimensional XBRL facts on the business-segment, product/service and geographic axes; the engine keeps the accession of every figure. Descriptive and educational, not advice.
Peer percentiles
latest fiscal year ending 2025-12-31 · among 4,144 US-listed filers · 818 in Technology| Metric | Value | vs all filers | vs sector |
|---|---|---|---|
Revenue latest fiscal-year revenue as filed | $2.8B | 72ndof 3,302 top third | 74thof 778 top third |
Revenue growth latest fiscal-year revenue vs the prior fiscal year | 18.8% | 76thof 3,136 top third | 71stof 743 top third |
Gross margin gross profit ÷ revenue | 16.9% | 17thof 1,604 bottom third | 12thof 555 bottom third |
Operating margin operating income ÷ revenue | -3.3% | 38thof 2,820 middle third | 38thof 752 middle third |
Net margin net income ÷ revenue | -3.2% | 37thof 3,264 middle third | 39thof 770 middle third |
Free-cash-flow margin (operating cash flow − |capex|) ÷ revenue | 4.8% | 50thof 2,680 middle third | 38thof 701 middle third |
Return on equity net income ÷ stockholders' equity (positive equity only) | -4.0% | 38thof 3,578 middle third | 37thof 720 middle third |
Stock comp ÷ revenue stock-based compensation ÷ revenue · lower is ranked higher | 1.0% | 67thof 2,896 top third | 80thof 729 top third |
Days sales outstanding receivables ÷ revenue × 365 · lower is ranked higher | 113 days | 8thof 2,399 bottom third | 11thof 712 bottom third |
Net debt ÷ operating cash flow net debt ÷ operating cash flow (OCF > 0) · lower is ranked higher | 1.6× | 56thof 1,548 middle third | 48thof 338 middle third |
Cash-flow accrual ratio (net income − operating cash flow) ÷ average total assets · lower is ranked higher | -8.8% | 69thof 3,874 top third | 56thof 770 middle third |
Balance-sheet accrual ratio change in net operating assets ÷ average net operating assets · lower is ranked higher | 96.1% | 11thof 3,321 bottom third | 10thof 678 bottom third |
Each filer's latest fiscal year as stored by the nightly crawl; fiscal year ends differ across the universe. A metric ranks only filers for which it is computable from filed facts. Ties split; a rank reads "better than N% of filers" in the metric's own direction. Descriptive and educational, not a rating.
Earnings quality
latest fiscal year ending 2025-12-31 · accruals and cash conversion as filedPer fiscal year from filed facts: cash conversion = operating cash flow / net income (net income > 0); cash-flow accrual ratio = (net income - operating cash flow) / average total assets; balance-sheet accrual ratio = change in net operating assets / average net operating assets, NOA = (assets - cash) - (liabilities - debt). Descriptive; a missing input yields a missing ratio. High accrual ratios and cash conversion well below one are the measures the accruals literature associates with less persistent earnings; they are screens to read the cash-flow statement with, not conclusions. The per-year series is part of Pro risk analysis.
Point-in-time ledger
first-reported vs latest filing · periods since 2020-01-01 · 8 changed periods| Line item | Period | First reported | Latest filing | Change | Filings |
|---|---|---|---|---|---|
| Operating income OperatingIncomeLoss | quarter 2025-06-30 | $32M 10-Q 2025-08-06 | $17M 10-Q 2026-08-06 | -46.9% | first · latest |
| Net income NetIncomeLoss | quarter 2025-06-30 | $25M 10-Q 2025-08-06 | $14M 10-Q 2026-08-06 | -44.0% | first · latest |
| Net income NetIncomeLoss | quarter 2025-03-31 | $22M 10-Q 2025-05-07 | $21M 10-Q 2026-05-07 | -4.5% | first · latest |
| Net income NetIncomeLoss | fiscal year 2024-12-31 | $81M 10-K 2025-02-18 | $78M 10-K 2026-02-26 | -3.7% | first · latest |
| Operating income OperatingIncomeLoss | fiscal year 2024-12-31 | $113M 10-K 2025-02-18 | $109M 10-K 2026-02-26 | -3.5% | first · latest |
| Operating income OperatingIncomeLoss | quarter 2025-03-31 | $30M 10-Q 2025-05-07 | $29M 10-Q 2026-05-07 | -3.3% | first · latest |
| Operating income OperatingIncomeLoss | fiscal year 2023-12-31 | $140M 10-K 2024-02-15 | $144M 10-K 2026-02-26 | +2.9% | first · latest · 3 filings carry it |
| Net income NetIncomeLoss | fiscal year 2023-12-31 | $247M 10-K 2024-02-15 | $250M 10-K 2026-02-26 | +1.2% | first · latest · 3 filings carry it |
First filing reporting each period vs the latest filing carrying it (10-K and 10-Q only, periods since 2020, the extractor's winning tag per concept); a change under 0.5% is treated as rounding. A change can be a restatement, a reclassification or a re-tagging in a later comparative column; the two filings are linked so the reader can see which. Descriptive, not a verdict.
Notes by disclosure type
Not available for DNOW yet: no footnote text blocks on file for this filer in the ingested DERA files.
Fundamentals from SEC EDGAR. Scores, the DCF, and every model shown are educational analysis, not investment advice or price predictions.