Resources

Valens Equities Weekly Equity Idea Highlight for January 11, 2017 – National Oilwell Varco, Inc.

January 16, 2017

This week the Valens Securities team highlights our most interesting equity insight from across our tools and our analysis.

National Oilwell Varco, Inc. (NOV): Markets expect macro issues to persist in perpetuity going forward for NOV, not respecting management’s prior execution, opportunities for acquisitions, or confidence about stabilization in the business

veih NOV 2017 01 11

NOV is trading at a Uniform Adjusted Financial Reporting Standards (UAFRS) P/B (V/A’) of 1.7x, well below historical valuations. The markets are now expecting UAFRS adjusted ROA to only rebound from projected 2016 negative levels to slightly above prior historic lows, at 9% going forward. The markets also expect substantially slower growth, which does not appear justified based on NOV’s historical execution, even if energy market fundamentals warrant operational issues that could hurt profitability and growth in the near term.

Click here to read the article in its entirety.

    Please enter your name and email address below so that we can keep you apprised on future Valens Equities Weekly Equity Idea Highlights.

    © 2023 Valens Research. All rights reserved.  Contact Us | Disclaimer | Terms of Use | Privacy Policy

    You don’t have access to the Valens Research Premium Application.

    To get access to our best content including the highly regarded Conviction Long List and Market Phase Cycle macro newsletter, please contact our Client Relations Team at 630-841-0683 or email client.relations@valens-research.com.

    Please fill out the fields below so that our client relations team can contact you

    Or contact our Client Relationship Team at 630-841-0683