NOV Inc. (0K58.L)

Industry: Oil & Gas Equipment & Services Model: Peers Multiples Valuation

Valuation Snapshot

Ticker	Rank	Name	Rev TTM (M)	Trailing P/E	Forward P/E	Trailing EV/EBITDA	Forward EV/EBITDA	Trailing EV/EBIT	Forward EV/EBIT
SLB	1	SLB N.V.	35,248	13.87	13.87	8.35	8.35	11.46	8.55
GTSS.ME	2	Geotech Seismic Se	32,572	-	-	1.99	1.99	2.60	2.65
BKR	3	Baker Hughes Compa	27,711	16.62	16.62	11.40	11.40	13.56	15.81
0R23.L	4	Halliburton Compan	22,137	16.11	16.11	7.97	7.97	9.23	9.73
FTI	5	TechnipFMC plc	13,111	16.85	16.85	9.52	7.93	10.29	8.99
600339.SS	6	China Petroleum En	13,096	35.94	41.02	0.53	0.60	0.57	0.58
SBMO.AS	7	SBM Offshore N.V.	11,902	5.95	5.95	4.96	4.65	4.40	5.18
0K58.L	8	NOV Inc.	8,313	12.22	12.22	7.46	6.99	9.97	5.10
SUBC.OL	9	Subsea 7 S.A.	8,212	21.18	21.18	5.42	5.42	7.11	10.61
600968.SS	10	CNOOC Energy Techn	7,492	10.22	8.39	6.01	5.23	7.32	5.63
3899.HK	11	CIMC Enric Holding	7,131	5.55	5.35	2.25	2.14	2.54	2.33
601808.SS	12	China Oilfield Ser	7,025	16.46	15.10	8.35	8.28	10.82	12.40
AKSO.OL	13	Aker Solutions ASA	6,004	5.75	5.75	4.10	3.68	4.52	1.70
0LNT.L	14	Fugro N.V.	5,107	3.25	3.25	2.40	2.45	33.72	3.64
WFRD	15	Weatherford Intern	4,970	12.15	18.76	5.65	7.68	7.61	7.17
LBRT	16	Liberty Energy Inc	3,911	10.74	10.74	3.32	1.82	-	34.87

Line Item	Trailing P/E	Forward P/E	Trailing EV/EBITDA	Forward EV/EBITDA	Trailing EV/EBIT	Forward EV/EBIT
Winsorized Median Multiple	11.44	12.31	4.96	4.65	7.21	5.63
Full Range Median Multiple	13.01	14.49	5.42	5.23	7.46	7.17
Industry Multiple	13.62	14.21	5.48	5.31	8.98	8.66
Market Implied Multiple	12.60	12.60	7.65	7.17	10.24	5.23
Company (0K58.L) Multiple	12.22	12.22	7.46	6.99	9.97	5.10
(*) Net Income / EBITDA / Revenue	499	499	979	1,045	732	1,432
Winsorized Enterprise Value	N/A	N/A	4,853	4,862	5,281	8,063
Full Range Median Enterprise Value	N/A	N/A	5,306	5,467	5,463	10,270
(-) Net Debt	1,203	1,203	1,203	1,203	1,203	1,203
Winsorized Equity Value	5,711	6,141	3,650	3,659	4,078	6,860
Full Range Median Equity Value	6,492	7,229	4,103	4,264	4,260	9,067
(/) Shares Outstanding	393	393	393	393	393	393
Winsorized Fair Value	$14.53	$15.62	$9.29	$9.31	$10.37	$17.45
Full Range Median Fair Value	$16.51	$18.39	$10.44	$10.85	$10.84	$23.06
Current Price	$16.00	$16.00	$16.00	$16.00	$16.00	$16.00
Upside / Downside	-9.20%	-2.37%	-41.97%	-41.82%	-35.17%	9.07%
Safety Margin	30.0%	30.0%	30.0%	30.0%	30.0%	30.0%
Buy Price	$10.17	$10.93	$6.50	$6.52	$7.26	$12.22
Buy / Don't Buy	Don’t Buy	Don’t Buy	Don’t Buy	Don’t Buy	Don’t Buy	Don’t Buy