DNOW Inc. (DNOW)

A major event impacting DNOW's stock was the completion of its acquisition of MRC Global Inc. on November 6, 2025, an all-stock transaction valued at approximately $1.5 billion. DNOW's stock price has experienced a decline in the past year and six months. The company reported its Q3 2025 earnings on November 5, 2025, and Q4 2025 earnings on February 20, 2026, after which DNOW shares declined.

Historically, DNOW has noted that a softening U.S. land rig market and seasonality can produce headwinds for the fourth quarter. The company's supply chain solutions aim to mitigate the complexities of demand fluctuations in the oil and gas industry. The company's operations are tied to the energy and industrial sectors, which can experience cyclical demand.

DNOW Inc., headquartered in Houston, Texas, is a global distributor of energy and industrial products, operating primarily in the Distribution Services sector. It provides a vast range of products and serves a diverse clientele across various markets, including decarbonization, energy transition, and renewable energy. DNOW leverages its DigitalNOW® platform and offers extensive supply chain solutions. DNOW was spun off from National Oilwell Varco (NOV) in 2014 and completed its merger with MRC Global Inc. in November 2025.

DNOW operates through three primary geographic segments: the United States, Canada, and International, with a significant presence in the Middle East, Asia Pacific, and Europe. Following the merger with MRC Global, DNOW expanded its geographic footprint and distribution presence, now boasting approximately 350 service and distribution locations across more than 20 countries, with around 5,000 team members. Strategic international distribution hubs are located in the United Kingdom, Norway, the Netherlands, Australia, and key Middle East markets.

DNOW has focused on strengthening its corporate citizenship and sustainability efforts, publishing its Corporate Sustainability Report for 2024. DNOW also highlights its commitment to safety and ethical standards. The merger with MRC Global in November 2025 was presented as a positive development.

DNOW's ownership structure is predominantly characterized by institutional investors and public shareholders. Institutional ownership commonly exceeds 90% of the free float. Major institutional owners include BlackRock, Inc., Vanguard Group Inc. and others. Insiders typically represent a smaller portion, around 2-3% of the ownership.