NOV Inc Dossier
Qualitative Analysis
Business overview
NOV Inc. (formerly National Oilwell Varco) is a leading independent equipment and technology provider to the global energy industry. Operating through two primary segments—Energy Equipment and Energy Products and Services—the company designs, manufactures, and services comprehensive systems, components, and downhole tools used in oil and gas drilling and production operations. NOV's extensive proprietary technology portfolio is engineered to lower the marginal cost and environmental footprint of energy development. With a global footprint spanning dozens of countries, the company serves major diversified, national, and independent service companies, drilling contractors, and energy producers.
Research as of 19 Jun 2026
Strategic Initiatives
Growth programs, investments, and their expected impact
A $200 million investment over three years to roughly double the manufacturing capacity of the subsea flexible pipe facility in Açu, Brazil.
Expected impact: Positions NOV to meet sustained long-term offshore demand, address high utilization, and introduce new CO2-resistant subsea flexible pipe technologies.
An accelerated operational efficiency program targeting $100 million in annualized savings through headcount reductions, facility consolidations, and product line pruning.
Expected impact: Includes an 8% global headcount reduction and over 40 facility exits since 2025 to offset tariff and inflationary pressures and improve blended margins.
Accelerating the adoption of advanced digital and performance technologies, including eVolve wired drill pipe services and Max products.
Expected impact: Aims to increase high-margin recurring revenue, smooth cyclicality, and raise blended EBITDA margins through subscription and performance-based contracts.
Mergers, Acquisitions & Partnerships
Recent deals and strategic collaborations
Strategic Partnerships
Aligns Natura's molten-salt small modular reactor (SMR) technology with NOV's manufacturing, supply chain, and project management expertise to target the industrial and data center power market.
Terms: NOV divested its nuclear development arm, Shepherd Power, to Natura, took an investment stake in Natura, and assigned a representative to Natura's Board of Directors.