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Thesis: Dnow: the setup is constructive — US horizontal rig count and completion activity, particularly in Permian Basin where DNOW has dense market share
value - Stock trades at 0.7x P/S and 8.8x EV/EBITDA with 17.1% FCF yield, attracting deep value investors seeking cyclical recovery plays.
Moderate sensitivity through two channels: (1) Customer financing costs - rising rates pressure E&P operators' project economics and reduce…
Watch on earnings: Baker Hughes US horizontal rig count (weekly) - leading indicator for drilling-related product demand with 4-8 week lag, WTI crude oil spot price and 12-month forward strip - drives E&P budget decisions and drilling activity 6-12 months forward, Permian Basin completion activity and frac spread count - DNOW's highest-margin market with dense branch presence.
One Sentence Summary:
The bull case is simple: analysts see revenue climbing from $5.0B to $5.3B as us horizontal rig count and completion activity, particularly in permian basin where dnow has dense market share.
Auto-composed from Stock Alarm intelligence, financial statements, and analyst estimates. Not investment advice.