National Energy Services Reunit NESR

Competitive advantage analysis · energy

Corporate Default
Overall moat score
54/100
Moderate

About National Energy Services Reunit

National Energy Services Reunited Corp. provides oilfield services in the Middle East and North Africa region. The company's Production Services segment offers hydraulic fracturing services; coiled tubing services, including nitrogen lifting, fishing, milling, clean-out, scale removal, and other well applications; stimulation and pumping services; primary and remedial cementing services; nitrogen services; filtration services, as well as frac tanks and pumping … Full NESR analysis →

Competitive advantage assessment

Key strengths

  • Revenue Growth Consistent Revenue growth volatility is low (stability score 0.80), suggesting sticky customer base.
  • Operating Leverage in Effect Operating leverage is evident (score 0.70), with margins expanding over time.

Key risks

  • Liquidity Concerns Liquidity is concerning (score 0.13), raising questions about short-term obligations.
  • Scale Without Profitability Despite scale, profitability lags peers (score 0.35), suggesting limited competitive advantage.

The dashed ring is the peer median. Defense scores are percentile ranks against peers, so 50 is roughly the typical company in this group.

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Pricing Power

Developing
45

Where NESR ranks in Oil & Gas Equipment & Services

National Energy Services Reunit ranks #24 of 50 scored companies in Oil & Gas Equipment & Services by moat score — the top 48%. The widest moat in the group is Cactus, Inc. Class A Common Sto (WHD) at 78/100.

Moat scores for companies ranked near NESR in Oil & Gas Equipment & Services
# Company Moat score Rating
20 Solaris Energy Infrastructure, SEI 61/100 Moderate
21 Bristow Group, Inc. VTOL 60/100 Moderate
22 Halliburton Company HAL 60/100 Moderate
23 Enerflex Ltd EFXT 55/100 Moderate
24 National Energy Services Reunit NESR 54/100 Moderate
25 North American Construction Gro NOA 52/100 Moderate
26 NOV Inc. NOV 50/100 Developing
27 Helix Energy Solutions Group, I HLX 49/100 Developing
28 Expro Group Holdings N.V. XPRO 48/100 Developing

See every Commodities & Mining company ranked by moat score →

How NESR scores on the Corporate Default defenses

Pricing Power

Score 44 · 20% of the moat score

Pricing power is the ability to raise prices without losing volume.

Cost Advantage

Score 71 · 15% of the moat score

A cost advantage means delivering the same product for structurally less — better purchasing, denser distribution, a more automated process.

Customer Stickiness

Score 72 · 15% of the moat score

Stickiness is what makes revenue repeat without being re-won every year.

Capital Efficiency

Score 50 · 18% of the moat score

Capital efficiency asks what the company earns on the money tied up in the business.

Resilience

Score 40 · 17% of the moat score

Resilience is the capacity to get through a bad year on its own terms — enough liquidity, enough interest cover, and enough cash generation to avoid a rescue financing or a forced sale.

Scale & Market Position

Score 49 · 15% of the moat score

Scale matters only when it converts into economics.

How each Corporate Default defense is measured, in full →

Understanding NESR's moat

What is National Energy Services Reunit's moat score?

National Energy Services Reunit (NESR) scores 54 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as moderate. It ranks #24 of 50 scored companies in Oil & Gas Equipment & Services, the top 48%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 49 companies in Oil & Gas Equipment & Services. Its strongest defense is Customer Stickiness (72/100) and its weakest is Resilience (40/100).

How does National Energy Services Reunit compare with other Oil & Gas Equipment & Services companies?

National Energy Services Reunit ranks #24 of 50 scored companies in Oil & Gas Equipment & Services by moat score. The widest moat in Oil & Gas Equipment & Services is Cactus, Inc. Class A Common Sto (WHD) at 78/100. The companies ranked closest are Enerflex Ltd (EFXT) at 55 just above it and North American Construction Gro (NOA) at 52 just below it.

How is the moat score calculated?

Each company is scored with an industry-specific template — Corporate Default in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 49 companies in Oil & Gas Equipment & Services. The defenses are then weighted to produce the overall score out of 100.

Why is National Energy Services Reunit scored with the Corporate Default template?

Most public companies sell a product or a service at a margin, so the moat question is whether that margin survives contact with competitors. The Corporate template scores the six defenses that show up in a general operating company's financial signature: whether it can hold price, produce more cheaply than rivals, keep its customers, earn a return above its cost of capital, withstand a downturn, and turn size into economics.

Which competitive defenses are measured for National Energy Services Reunit?

The Corporate Default template measures 6 defenses, and NESR scores: Pricing Power (44), Cost Advantage (71), Customer Stickiness (72), Capital Efficiency (50), Resilience (40), Scale & Market Position (49). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.

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