What is DNOW's invested capital?

DNOW (DNOW) reported invested capital of $2.76B in Q1 2026.

How has DNOW's invested capital changed year-over-year?

DNOW's invested capital increased by 187.1% year-over-year, from $961M to $2.76B.

What is the long-term trend for DNOW's invested capital?

Over 5 years (2020 to 2025), DNOW's invested capital has grown at a 49.0% compound annual growth rate (CAGR), from $365M to $2.68B.

What does invested capital mean?

Total debt plus shareholders' equity minus cash, at the quarter end. The capital actually put to work in the operating business — the denominator of return on invested capital (ROIC).

DNOW DNOW Invested capital

Discontinued — last reported Q1 '26

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17.5%+14.2pp

Other financials

Income statement

See full

Revenue$1.2B+97.5%

Gross profit$193.0M+39.9%

Operating income-$50.0M-272%

Net income-$44.0M-310%

EPS (diluted)-$0.24-226%

Balance sheet

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Cash & equivalents$116.0M-47.0%

Total debt$737.0M+1,698%

Total equity$2.1B+87.7%

Total assets$3.9B+138%

Cash flow

See full

Operating cash flow-$95.0M-494%

CapEx$8.0M+33.3%

Free cash flow-$103.0M-368%

Valuation

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Market cap$2.45B+22.9%

Enterprise value$3.07B+74.6%

P/S0.7×-0.1×

Profitability

See full

Gross margin15.6%-6.8pp

Operating margin-5.1%-9.6pp

Net margin-4.6%-7.8pp

FCF margin1.6%-6.2pp

Returns & leverage

See full

Return on equity-9.5%-16.5pp

Debt / equity0.3×+0.3×

Current ratio2.4×+0.1×

Where this comes from

Calculated from DNOW’s reported figures.

$737.0Mtotal debt+$2.1Btotal stockholders equity−$116.0Mcash and equivalents=$2.76B

The official record: DNOW’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is DNOW's invested capital?: DNOW (DNOW) reported invested capital of $2.76B in Q1 2026.
How has DNOW's invested capital changed year-over-year?: DNOW's invested capital increased by 187.1% year-over-year, from $961M to $2.76B.
What is the long-term trend for DNOW's invested capital?: Over 5 years (2020 to 2025), DNOW's invested capital has grown at a 49.0% compound annual growth rate (CAGR), from $365M to $2.68B.
What does invested capital mean?: Total debt plus shareholders' equity minus cash, at the quarter end. The capital actually put to work in the operating business — the denominator of return on invested capital (ROIC).