NOV
National Oilwell Varco
PE ratio, current and historical analysis
The current PE ratio for National Oilwell Varco stock as of Jun 22, 2026 is 74.72. This is calculated based on the TTM EPS of $0.25 and the stock price of $18.68 per share. The PE ratio marks an increase of 115% from its last 4 quarters average of 34.7.
NOV PE ratio history
The average historical PE ratio of National Oilwell Varco for the last four years is 73.42. The current price-to-earnings ratio of 74.72 is in line with the historical average. Analyzing the last four years, NOV's PE ratio reached its highest point in the Sep 2022 quarter at 809, when the price was $16.18 and the EPS was $0.02. The lowest point was recorded in the Sep 2024 quarter, when it reached 5.87 with a price of $15.97 and an EPS of $2.72.
National Oilwell Varco PE ratio by year
Maximum annual increase: 344.84% in 2025
Maximum annual decrease: -84.64% in 2023
| Year | PE ratio | PE change | Price | EPS |
|---|---|---|---|---|
| 2025 | 40.08 | 344.84% | $15.63 | $0.39 |
| 2024 | 9.01 | 12.34% | $14.6 | $1.62 |
| 2023 | 8.02 | -84.64% | $20.28 | $2.53 |
| 2022 | 52.23 | N/A | $20.89 | $0.4 |
| 2021 | N/A | N/A | $13.55 | -$0.65 |
| 2020 | N/A | N/A | $13.73 | -$6.62 |
| 2019 | N/A | N/A | $25.05 | -$15.96 |
| 2018 | N/A | N/A | $25.7 | -$0.08 |
| 2017 | N/A | N/A | $36.02 | -$0.63 |
| 2016 | N/A | N/A | $37.44 | -$6.41 |
| 2015 | N/A | N/A | $33.49 | -$1.99 |
| 2014 | 11.2 | -23.13% | $65.53 | $5.85 |
| 2013 | 14.57 | 24.96% | $79.53 | $5.46 |
| 2012 | 11.66 | -18.86% | $68.35 | $5.86 |
| 2011 | 14.37 | -14.72% | $67.99 | $4.73 |
National Oilwell Varco PE ratio by quarter (TTM)
| Year | PE ratio | PE change | Price | EPS |
|---|---|---|---|---|
| Mar 2026 | 75.24 | 87.72% | $18.81 | $0.25 |
| Dec 2025 | 40.08 | 202.49% | $15.63 | $0.39 |
| Sep 2025 | 13.25 | 30.03% | $13.25 | $1 |
| Jun 2025 | 10.19 | 0.39% | $12.43 | $1.22 |
| Mar 2025 | 10.15 | 12.65% | $15.22 | $1.5 |
| Dec 2024 | 9.01 | 53.49% | $14.6 | $1.62 |
| Sep 2024 | 5.87 | -17.21% | $15.97 | $2.72 |
| Jun 2024 | 7.09 | -9.22% | $19.01 | $2.68 |
| Mar 2024 | 7.81 | -2.62% | $19.52 | $2.5 |
| Dec 2023 | 8.02 | -51.28% | $20.28 | $2.53 |
| Sep 2023 | 16.46 | 8.79% | $20.9 | $1.27 |
| Jun 2023 | 15.13 | -30.53% | $16.04 | $1.06 |
| Mar 2023 | 21.78 | -58.3% | $18.51 | $0.85 |
| Dec 2022 | 52.23 | -93.54% | $20.89 | $0.4 |
| Sep 2022 | 809 | N/A | $16.18 | $0.02 |
NOV Price vs fair value
NOV average PE ratio chart
What this chart measures
The Historical Valuation Regime chart shows where the stock's current valuation sits relative to its own historical valuation range over the selected lookback period.
This is a history-relative tool, not a market-relative percentile. It does not compare the stock to other companies. Instead, it compares each historical valuation reading to the stock's own past readings.
Percentile logic
The threshold lines are calculated them from the stock's real historical values using percentile interpolation. That is why some colored bands are narrow while others are wide: the band widths reflect how the stock actually traded through time.
Regime map
| Historical percentile | Regime | Chart meaning |
|---|---|---|
| 0-10 | Historically Low | Deep cheap zone |
| >10-25 | Below Average | Cheap relative to history |
| >25-75 | Average | Within the normal historical range |
| >75-90 | Above Average | Expensive relative to history |
| >90-100 | Historically High | Extreme or stretched valuation |
How to read each part
| Chart element | What it tells you |
|---|---|
| Main line | The actual historical valuation values over time for the selected metric. |
| Dashed horizontal lines | The stock's computed P10, P25, Median, P75, and P90 thresholds for the selected period. |
| Colored bands | The historical valuation zones between those thresholds. |
| Metric boxes | Current ratio, historical median, current percentile, and current regime. |
| Timeline strip | A condensed regime history showing how the stock moved between cheap, fair, and expensive states across each observation. |
Important metric definitions
Current Percentile is the percentile rank of the latest valid historical observation within the selected lookback range.
Current Regime is assigned directly from the latest observation's percentile bucket using the fixed 10 / 25 / 75 / 90 cutoffs shown above.
How to use it well
This chart is most useful for answering a narrow question: Is this stock trading high, low, or normal relative to its own history? It works best alongside growth, profitability, and forward-looking business analysis, because a stock can deserve a higher or lower regime if its business quality has changed.
NOV's current PE ratio is higher than the 3, 5 and 10-year averages.
PE comparison
National Oilwell Varco's price to earnings (P/E) of 74.72 is higher than the Energy sector, the industry and its peers average. Looking at the Energy sector average of 16.89, National Oilwell Varco's price to earnings (P/E) is 342% higher.
NOV PE vs peers
When compared to its peer stocks SLB and FTI, NOV's PE ratio is higher. National Oilwell Varco's PE ratio is trading above the peer average of 28.31.
| Stock name | PE ratio | Market cap |
|---|---|---|
| SLB Schlumberger Limited | 20.74 | $71.31B |
| FTI TechnipFMC plc | 24.97 | $26.48B |
| NPKI NPK International Inc. | 33.35 | $1.3B |
| INVX Innovex International Inc. | 34.08 | $1.78B |
| NOV National Oilwell Varco Inc | 76.68 | $6.88B |
| OIS Oil States International Inc | N/A | $479.74M |
| FET Forum Energy Technologies Inc | N/A | $574.26M |
Frequently asked questions
What is National Oilwell Varco's PE ratio?
The price to earnings ratio for NOV stock as of Jun 22, 2026, stands at 74.72.
What is the 3-year average PE ratio for National Oilwell Varco (NOV)?
The average PE ratio for NOV stock over the past 3 years is 18.19.
What is the 5-year average PE ratio for National Oilwell Varco (NOV)?
The average PE ratio for NOV stock over the past 5 years is 73.42.
What is the highest PE ratio for NOV?
The highest quarterly PE ratio in the last four years has been 809 and it was in the Sep 2022 quarter.
How does the current PE ratio for NOV compare to its historical average?
The current PE ratio of NOV is 1.8% higher than the 4-year historical average.
Why is National Oilwell Varco's PE ratio so high?
NOV's PE ratio of 74.72 is considered high because the company's stock price is trading at a higher multiple of earnings.
How is NOV's PE ratio calculated (National Oilwell Varco PE ratio formula)?
To determine the P/E ratio, divide the latest stock price by the TTM earnings per share (EPS). As of today (Jun 22, 2026), National Oilwell Varco's share price is $18.68. The company's earnings per share for the trailing twelve months (TTM) ending Mar 2026 is $0.25. Therefore, National Oilwell Varco's price to earnings ratio for today is 74.72. PE RATIO(74.72) = STOCK PRICE($18.68) / TTM EPS($0.25)
All PE ratio stats are based on quarterly TTM periods, unless otherwise specified.