Analysis of Revenues
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- Income Statement
- Statement of Comprehensive Income
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Balance Sheet: Assets
- Analysis of Short-term (Operating) Activity Ratios
- Common Stock Valuation Ratios
- Enterprise Value (EV)
- Selected Financial Data since 2005
- Net Profit Margin since 2005
- Price to Operating Profit (P/OP) since 2005
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Revenues as Reported
National Oilwell Varco Inc., income statement, revenues
US$ in millions
| 12 months ended: | Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Rig Systems | |||||||||||
| Rig Aftermarket | |||||||||||
| Wellbore Technologies | |||||||||||
| Completion & Production Solutions | |||||||||||
| Eliminations | |||||||||||
| Revenue |
Based on: 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31).
- Revenue Trend Analysis
- The total revenue exhibited a steady upward trend from 2012 through 2014, increasing from US$17,194 million to US$21,440 million. However, in 2015, there was a significant decline to US$14,757 million, marking a reversal after three consecutive years of growth.
- Rig Systems
- The Rig Systems segment showed consistent growth from 2012 to 2014. Starting at US$7,077 million in 2012, the revenue rose to US$9,848 million in 2014. This was followed by a substantial drop in 2015 to US$6,964 million, reflecting a contraction in demand or operational challenges within that segment.
- Rig Aftermarket
- This segment demonstrated a similar pattern of growth from 2012 to 2014, rising from US$2,138 million to US$3,222 million. The revenue then decreased to US$2,515 million in 2015. Although the decline is notable, the drop was less steep compared to the Rig Systems segment, suggesting relative resilience.
- Wellbore Technologies
- Revenue for Wellbore Technologies remained relatively stable between 2012 and 2014, with values ranging narrowly from US$5,184 million to US$5,722 million. There was a marked decline in 2015, with revenue falling to US$3,718 million, signifying a downturn in this segment as well.
- Completion & Production Solutions
- This segment exhibited a gradual increase from US$3,994 million in 2012 to US$4,645 million in 2014. In 2015, the revenue dropped to US$3,365 million, indicating a decrease following consistent growth.
- Eliminations
- The eliminations, which likely represent inter-segment transactions or adjustments, increased in absolute value over the period, moving from -US$1,199 million in 2012 to -US$1,997 million in 2014. In 2015, the negative impact slightly lessened to -US$1,805 million. This pattern suggests more inter-segment activities or accounting adjustments through 2014, with some reduction in 2015.
- Overall Insights
- The data reveals a period of growth across all segments from 2012 to 2014, followed by a pronounced contraction in 2015. The reduction affected all segments, with varying degrees of severity. Rig Systems and Wellbore Technologies experienced the largest absolute declines, correlating strongly with the overall revenue decrease. The growth period suggests an expanding market or improved operational performance prior to 2015, whereas the decline in 2015 may be linked to external market conditions or internal challenges impacting multiple business lines.