Flagship explainer

How DNOW INC. makes its money

Start with a dollar of revenue and follow what the filing says remains.

revenueBranching filed flows with values and percentages directly labeled. Missing filing concepts are omitted rather than estimated.Revenue$2.8B · 100%Cost of revenue$2.3B · 83%Gross profit$478M · 17%Operating income−$93M · −3%Income before tax−$100M · −4%Income tax−$12M · −0%Net income−$89M · −3%As of 2025-12-31 · 1 SEC filing sourceBuy Like Buffett · buylikebuffett.com

Honest partial: the filing did not provide a normalized tag for Research and development, Selling, general and administrative; those components are omitted, not plugged.

Table alternative
Filed lineValue% of revenueSource
$2.8B100%
Cost of revenue$2.3B83%
$478M17%
−$93M−3%
Income before tax−$100M−4%
Income tax−$12M−0%
−$89M−3%
Source: · event Dec 31, 2025 · retrieved Oct 17, 2026 · annual-row source set
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DNOW income explainer — Buy Like Buffett · Buy Like Buffett