Precision Drilling Balance Sheet Health
Financial Health criteria checks 4/6
Precision Drilling has a total shareholder equity of CA$1.6B and total debt of CA$938.0M, which brings its debt-to-equity ratio to 57.4%. Its total assets and total liabilities are CA$3.0B and CA$1.4B respectively. Precision Drilling's EBIT is CA$246.8M making its interest coverage ratio 3.1. It has cash and short-term investments of CA$30.9M.
Key information
57.4%
Debt to equity ratio
CA$938.01m
Debt
| Interest coverage ratio | 3.1x |
| Cash | CA$30.95m |
| Equity | CA$1.64b |
| Total liabilities | CA$1.36b |
| Total assets | CA$3.00b |
Recent financial health updates
We Think Precision Drilling (TSE:PD) Is Taking Some Risk With Its Debt
Sep 13
We Think Precision Drilling (TSE:PD) Is Taking Some Risk With Its Debt
Jun 08Precision Drilling (TSE:PD) Has A Somewhat Strained Balance Sheet
Feb 23Is Precision Drilling (TSE:PD) Using Debt In A Risky Way?
Oct 23Health Check: How Prudently Does Precision Drilling (TSE:PD) Use Debt?
Jul 06Is Precision Drilling (TSE:PD) Weighed On By Its Debt Load?
Mar 21Recent updates
Is Precision Drilling Corporation (TSE:PD) Trading At A 49% Discount?
Apr 04Investors Continue Waiting On Sidelines For Precision Drilling Corporation (TSE:PD)
Mar 20Investors Shouldn't Be Too Comfortable With Precision Drilling's (TSE:PD) Earnings
Feb 13We Think Precision Drilling (TSE:PD) Is Taking Some Risk With Its Debt
Sep 13We Think Precision Drilling (TSE:PD) Is Taking Some Risk With Its Debt
Jun 08Precision Drilling's (TSE:PD) Promising Earnings May Rest On Soft Foundations
May 04Precision Drilling (TSE:PD) Has A Somewhat Strained Balance Sheet
Feb 23Is Precision Drilling (TSE:PD) Using Debt In A Risky Way?
Oct 23Health Check: How Prudently Does Precision Drilling (TSE:PD) Use Debt?
Jul 06Is Precision Drilling (TSE:PD) Weighed On By Its Debt Load?
Mar 21Health Check: How Prudently Does Precision Drilling (TSE:PD) Use Debt?
Jun 30Shareholders Will Probably Hold Off On Increasing Precision Drilling Corporation's (TSE:PD) CEO Compensation For The Time Being
May 07Is Precision Drilling (TSE:PD) Using Debt In A Risky Way?
Mar 19Are Institutions Heavily Invested In Precision Drilling Corporation's (TSE:PD) Shares?
Jan 25Would Shareholders Who Purchased Precision Drilling's (TSE:PD) Stock Five Years Be Happy With The Share price Today?
Dec 21
What Did Precision Drilling's (TSE:PD) CEO Take Home Last Year?
Nov 24Financial Position Analysis
Short Term Liabilities: PD's short term assets (CA$499.6M) exceed its short term liabilities (CA$291.5M).
Long Term Liabilities: PD's short term assets (CA$499.6M) do not cover its long term liabilities (CA$1.1B).
Debt to Equity History and Analysis
Debt Level: PD's net debt to equity ratio (55.5%) is considered high.
Reducing Debt: PD's debt to equity ratio has reduced from 104.6% to 57.4% over the past 5 years.
Debt Coverage: PD's debt is well covered by operating cash flow (57.3%).
Interest Coverage: PD's interest payments on its debt are well covered by EBIT (3.1x coverage).