How much does Tuboscope Vetco Capital Limited make?

Tuboscope Vetco Capital Limited reported revenue of £16.1m and £2.4m profit in the year to 31 Dec 2024, according to its accounts filed at Companies House.

How many employees does Tuboscope Vetco Capital Limited have?

Tuboscope Vetco Capital Limited reported an average of 19 employees in the year to 31 Dec 2024.

Is Tuboscope Vetco Capital Limited profitable?

Yes — Tuboscope Vetco Capital Limited reported a profit of £2.4m in the year to 31 Dec 2024.

Company No. SC147084 · Incorporated 20 Oct 1993

Tuboscope Vetco Capital Limited

Registered name: TUBOSCOPE VETCO CAPITAL LIMITED

Part of Nov Inc. group

Tuboscope Vetco Capital Limited made £16.1m revenue and £2.4m profit in the year to 31 Dec 2024.

Tuboscope Vetco Capital Limited’s revenue fell 11% to £16.1m in the year to 31 Dec 2024, with £2.4m profit and 19 employees. The company is classified under “other service activities” and is based in Portlethen, Aberdeen; we hold 3 years of its filed accounts.

Full P&L filedSection S · Other service activitiesSIC 96090Other service activities n.e.c.

Status: Active
Location: Portlethen, Aberdeen, Scotland
Age: 32 yrs · since 1993
Type: Private Limited Company

Part of a group. The filing indicates this company sits within a group structure, so its results may depend on intra-group trading and it may be hard to replicate independently.

Latest accounts · year to 31 Dec 2024

Key figures

Capital-light

Revenue

£16.1m

Growth ▼11.1%

Profit

£2.4m

Growth ▲52.5%

Profit margin

14.8%

Gross 37.4%

Employees

Change ▼44.1%

Profit / employee

£126k

Revenue/employee £848k

Profitable streak

3yrs

Consecutive profitable years in our data

Badges are automated estimates derived from the filed figures — not statements of fact about the company.

3 filed years

Financial history

Multi-year financials, oldest to newest
Year to	31 Dec 2022	31 Dec 2023	31 Dec 2024
Disclosure	Full P&L	Full P&L	Full P&L
Profit & loss
Revenue (turnover)	£13.9m	£18.1m	£16.1m
Cost of sales	£12.4m	£12.6m	£10.1m
Gross profit	£1.6m	£5.6m	£6m
Operating profit	£409k	£2.5m	£3m
Profit before tax	£2.1m	£2.5m	£3.1m
Profit after tax	£985k	£1.6m	£2.4m
Profit (best available)	£985k	£1.6m	£2.4m
Staff costs	£5.5m	£3m	£1.5m
Employees (average)	88	34	19
Ratios
Profit margin	7.1%	8.6%	14.8%
Gross margin	11.2%	30.7%	37.4%
Revenue per employee	£158k	£533k	£848k
Profit per employee	£11.2k	£46k	£126k
Growth (year on year)
Revenue growth	—	▲30.2%	▼11.1%
Profit growth	—	▲58.9%	▲52.5%
Headcount growth	—	▼61.4%	▼44.1%
Balance sheet — indirect signals, not revenue
Cash at bank	£3m	£4m	£3.4m
Net assets	£740k	£2.3m	£4.7m
Fixed assets	£752k	£728k	£728k
Current assets	£16.7m	£21m	£25.3m
Debtors	£2.3m	£1.8m	£6.1m
Deferred income	£820k	£956k	£1.1m
Source	FullAccounts · bulk data Apr 2025	FullAccounts · bulk data Apr 2025	FullAccounts · bulk data Mar 2026

Derived from the latest filing

How the business works

Profit margin: 14.8%; Profit ÷ revenue.
Gross margin: 37.4%; Gross profit ÷ revenue. High for software and services.
Revenue per employee: £848k; Revenue ÷ average employees.
Profit per employee: £126k; Profit ÷ average employees.
Cash conversion: —; Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
Fixed assets ÷ revenue: 4.5%; Capital intensity. Low = capital-light, cheaper to start.
Deferred income ÷ revenue: 7.1%; Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
Debtors ÷ revenue: 38.1%; Money owed by customers. Low = customers pay quickly.

Indirect — not revenue

Balance-sheet signals

Year-on-year changes in filed balance-sheet items. They can hint at momentum (or investment) but are not revenue or profit and must not be read as such.

Net assets: ▲104%; Now £4.7m
Cash at bank: ▼16%; Now £3.4m
Headcount: ▼44%; Now 19
Deferred income: ▲20%; Now £1.1m
Fixed assets: 0%; Now £728k

Deferred income is reported together with accruals in this filing (“accruals and deferred income”), so it is an approximate signal only.

Corporate ownership

Group structure

Ownership chain

Nov Inc. (registered outside the UK register)ultimate parent75–100%
National Oilwell Varco UK Limited75–100%
Tuboscope Vetco Capital Limitedthis company

Bands show the share of ownership each company holds in the one below it.

Sister companies (7)

Nov Process & Flow Technologies UK LimitedRev. £62.5m · Profit £2.2m
Pipex LimitedRev. £13m · Profit £2.6m
Hellenes LimitedRev. £1.8m · Profit £4.1m
Nov Elmar (Middle East) LimitedRev. £1.7m · Profit £732k
National Oilwell (U.K.) LimitedRev. £5k · Profit £4k
Mono Group Pension Trustees LimitedFigures not disclosed
Nov Downhole Eurasia LimitedFigures not disclosed

From the Persons with Significant Control register (corporate controllers only).

Same industry, similar size

Similar profitable businesses

Industry benchmarks →

Sources

Companies House profile Filing history & original accounts

Latest figures from FullAccounts for the year to 31 Dec 2024 (profit £2.4m), from the Companies House accounts bulk data published Mar 2026. Spotted an error? Request a correction.

Contains public sector information from Companies House licensed under the Open Government Licence v3.0. Data from Companies House, © Crown copyright. View the licence.