NOV DOWNHOLE EURASIA LIMITED
Operating as a UK division of the New York-listed National Oilwell Varco group, the company manufactures downhole tools and synthetic diamond drill bits for the global oil and gas extraction industry.
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Cash
£89m
USD 120,232,000
+36.4% highest in 3 filed years
Net assets
£266m
USD 358,500,000
-28.2% lowest in 3 filed years
Employees
3,124
-11% vs 2024
Profit before tax
£50m
USD 67,130,000
-24.5% vs 2024
Watch the reel
Our short-form breakdown of NOV DOWNHOLE EURASIA LIMITED's latest filing
Fewer staff, higher costs, and a £113m dividend at NOV Downhole Eurasia. 🛢️
Net assets
3-year trend · vs Energy median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2025-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 | Δ vs prior |
|---|---|---|---|---|---|
| Turnover | £660,387,512 | £1,082,970,392 | £996,570,686 | -8% | |
| Operating profit | £53,794,321 | £77,424,387 | £54,711,688 | -29.3% | |
| Profit before tax | £48,049,890 | £66,024,355 | £49,818,182 | -24.5% | |
| Net profit | £33,678,224 | £45,697,230 | £35,200,742 | -23% | |
| Cash | £61,423,753 | £65,409,105 | £89,225,974 | +36.4% | |
| Total assets less current liabilities | £608,675,086 | £513,552,213 | £518,808,905 | +1% | |
| Net assets | £321,237,841 | £370,395,575 | £266,048,237 | -28.2% | |
| Equity | £321,237,841 | £370,395,575 | £266,048,237 | -28.2% | |
| Average employees | 1,861 | 3,510 | 3,124 | -11% | |
| Wages | £68,838,249 | £135,741,802 | £134,866,790 | -0.6% | |
| Directors' remuneration | £471,447 | £451,289 | £419,295 | -7.1% | |
| Directors' pension contributions | £21,964 | £21,490 | £21,521 | +0.1% | |
| Highest paid director | £460,464 | £398,758 | £355,473 | -10.9% |
Figures converted to GBP from USD at 0.742 per USD (Frankfurter spot rate) — hover any figure for the original. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 |
|---|---|---|---|---|
| Operating margin | 8.1% | 7.1% | 5.5% | |
| Net margin | 5.1% | 4.2% | 3.5% | |
| Return on capital employed | 8.8% | 15.1% | 10.5% | |
| Gearing (liabilities / total assets) | 71.6% | 68.5% | 75.6% | |
| Current ratio | 1.63x | 1.25x | 1.32x | |
| Interest cover | 6.18x | 4.25x | 3.97x |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Name history
Renamed 3 times since incorporation
- NOV DOWNHOLE EURASIA LIMITED 2009-11-30 → present
- REEDHYCALOG EURASIA LTD 2003-02-17 → 2009-11-30
- GRANT PRIDECO UK LTD 2002-11-05 → 2003-02-17
- DMWSL 383 LIMITED 2002-08-19 → 2002-11-05
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Consolidated group
- Auditor
- Ernst & Young LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“Based on a review of forecasts for the Group through to 30 September 2027, the Directors have a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future and have no reason to believe that a material uncertainty exists”
Group structure
- NOV DOWNHOLE EURASIA LIMITED · parent
- Arabian Rig Manufacturing Company 70%
- NOV Downhole KZ LLP 99%
- NOV Energy Kuwait for Maintenance of Oil Facilities, Wells, Refineries and Petrochemicals SPC 100%
- NOV Muscat SPC 100%
- NOV Products Middle East FZE 100%
- NOV QFZ LLC 100%
- NOV Saudi Arabia Co. Ltd. 100%
- NOV Saudi Arabia Trading Ltd. 100%
- Reed Hycalog UK Limited 100%
- Vetco Saudi Arabia Ltd. 100%
- NOV Equipment Manufacturing LLC 100%
- AF Global FZE 100%
- NOV Middle East FZE 100%
- NOV Doha Energy Trading and Services W.L.L 100%
- NOV Middle East Oil and Natural Gas Wells Equipments and Devices - L.L.C - S.P.C 100%
Significant events
- “On 22 October 2025, the Company acquired 100% of the shares in NOV Middle East Oil and Natural Gas Wells Equipments and Devices - L.L.C - S.P.C.”
- “On 10 November 2025, the Company acquired 100% of the shares in NOV Doha Energy Trading and Services W.L.L.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
4 active · 21 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| QUILTER, Martin John | Secretary | 2024-05-17 | — | — |
| BROUGHTON, Ian | Director | 2023-03-30 | Oct 1969 | British |
| O'NEIL, Christopher Paul | Director | 2020-12-31 | Dec 1973 | British |
| WEINSTOCK, Craig Louis | Director | 2019-06-18 | Apr 1958 | American |
Show 21 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| DEVLIN, Andrew | Secretary | 2002-10-31 | 2003-03-08 |
| FLEMING, Alastair James | Secretary | 2011-09-30 | 2013-08-06 |
| O'NEIL, Christopher Paul | Secretary | 2009-09-11 | 2011-09-30 |
| RITCHIE, Gregor | Secretary | 2003-03-08 | 2015-04-28 |
| SLOAN, Alison May | Secretary | 2013-08-06 | 2024-05-17 |
| DM COMPANY SERVICES LIMITED | Corporate Secretary | 2002-08-19 | 2002-10-31 |
| DM COMPANY SERVICES LIMITED | Corporate Nominee Secretary | 2002-08-19 | 2003-03-08 |
| BOYLE, Thomas Douglas | Director | 2009-03-24 | 2011-07-04 |
| DEVLIN, Andrew | Director | 2002-10-31 | 2003-03-08 |
| FLEMING, Alastair James | Director | 2013-07-31 | 2018-08-31 |
| GREEN, Joe | Director | 2003-03-08 | 2012-04-05 |
| KEENER, David James | Director | 2011-07-04 | 2011-08-03 |
| MCKENNA, James Alexander | Director | 2012-04-05 | 2014-06-30 |
| MURPHY, Patrick | Director | 2002-10-31 | 2003-03-08 |
| O'NEIL, Christopher Paul | Director | 2011-08-03 | 2015-09-30 |
| OUDENDIJK, Robbert | Director | 2015-09-30 | 2023-03-30 |
| PEARSON, John | Director | 2003-03-08 | 2010-08-09 |
| REID, Simon Scott | Director | 2018-07-09 | 2020-12-31 |
| RITCHIE, Gregor | Director | 2003-03-08 | 2015-04-28 |
| TAYLOR, Malcolm Roy | Director | 2003-03-08 | 2009-06-24 |
| VALENTINE, Steven Grenville | Director | 2010-08-09 | 2013-08-23 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| National Oilwell Varco Uk Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-04-06 | Active |
Filing timeline
Last 20 of 131 total filings
Material constitutional events — rename, articles re-file, resolution
- 2024-02-14 RESOLUTIONS Resolution
- 2024-02-14 MA Memorandum articles
- 2024-02-08 CC04 Statement of companys objects
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-10-12 | AA | accounts | Accounts with accounts type group | |
| 2026-09-16 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-12-19 | AA | accounts | Accounts with accounts type group | |
| 2024-11-25 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-10-12 | AA | accounts | Accounts with accounts type group | |
| 2024-07-15 | RP04AP03 | officers | Second filing of secretary appointment with name | |
| 2024-06-10 | AP03 | officers | Appoint person secretary company with name date | |
| 2024-06-10 | TM02 | officers | Termination secretary company with name termination date | |
| 2024-04-12 | CH01 | officers | Change person director company with change date | |
| 2024-02-14 | RESOLUTIONS | resolution | Resolution | |
| 2024-02-14 | MA | incorporation | Memorandum articles | |
| 2024-02-08 | CC04 | change-of-constitution | Statement of companys objects | |
| 2024-01-11 | AA | accounts | Accounts with accounts type group | |
| 2023-11-20 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-03-31 | AP01 | officers | Appoint person director company with name date | |
| 2023-03-31 | TM01 | officers | Termination director company with name termination date | |
| 2022-11-28 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-10-17 | AA | accounts | Accounts with accounts type group | |
| 2022-03-15 | AA | accounts | Accounts with accounts type group | |
| 2021-11-22 | CS01 | confirmation-statement | Confirmation statement with no updates |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 3
- Capital events
- 0
- Officers appointed
- 0
- Officers resigned
- 0
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.