Precision Drilling Balance Sheet Health

Financial Health criteria checks 4/6

Precision Drilling has a total shareholder equity of CA$1.7B and total debt of CA$788.0M, which brings its debt-to-equity ratio to 47.4%. Its total assets and total liabilities are CA$2.9B and CA$1.2B respectively. Precision Drilling's EBIT is CA$246.1M making its interest coverage ratio 3.4. It has cash and short-term investments of CA$24.3M.

Key information

47.4%

Debt to equity ratio

CA$787.96m

Debt

Interest coverage ratio	3.4x
Cash	CA$24.30m
Equity	CA$1.66b
Total liabilities	CA$1.23b
Total assets	CA$2.89b

Recent financial health updates

No updates

Recent updates

Financial Position Analysis

Short Term Liabilities: PDS's short term assets (CA$472.6M) exceed its short term liabilities (CA$306.1M).

Long Term Liabilities: PDS's short term assets (CA$472.6M) do not cover its long term liabilities (CA$920.8M).

Debt to Equity History and Analysis

Debt Level: PDS's net debt to equity ratio (46%) is considered high.

Reducing Debt: PDS's debt to equity ratio has reduced from 97.3% to 47.4% over the past 5 years.

Debt Coverage: PDS's debt is well covered by operating cash flow (62.1%).

Interest Coverage: PDS's interest payments on its debt are well covered by EBIT (3.4x coverage).

Precision Drilling Balance Sheet Health

Financial Health criteria checks 4/6

Key information

Recent financial health updates

Recent updates

Precision Drilling: Capitalizing On Strong Activity In Canada

Third quarter 2024 earnings: EPS and revenues miss analyst expectations

Precision Drilling Corporation to Report Q3, 2024 Results on Oct 29, 2024

Precision Drilling: Get 20% Free Cash Flow Yield At The Cyclical Bottom

Independent Director recently sold US$260k worth of stock

Second quarter 2024 earnings: EPS and revenues exceed analyst expectations

Precision Drilling Corporation to Report Q2, 2024 Results on Jul 30, 2024

Precision Drilling Corporation Announces Board Changes

First quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind

Precision Drilling Corporation to Report Q1, 2024 Results on Apr 25, 2024

Precision Drilling: The Seagulls Are Missing A Bet

Full year 2023 earnings: EPS exceeds analyst expectations

Precision Drilling Corporation, Annual General Meeting, May 16, 2024

Chief Financial Officer recently sold US$1.7m worth of stock

Full year 2023 earnings: EPS exceeds analyst expectations

Precision Drilling Corporation to Report Q4, 2023 Results on Feb 06, 2024

Precision Drilling: Put A Driller In Your Stocking

New minor risk - Shareholder dilution

Precision Drilling Corporation (TSX:PD) completed the acquisition of CWC Energy Services Corp. (TSXV:CWC) from BBU Alta Investments L.P., Brookfield BBP (CANADA) LP, Canada Pension Plan Investment Board, directors, officers and others.

Third quarter 2023 earnings: EPS and revenues miss analyst expectations

Investor sentiment deteriorates as stock falls 15%

Precision Drilling Corporation to Report Q3, 2023 Results on Oct 26, 2023

New minor risk - Shareholder dilution

Precision Drilling Corporation (TSX:PD) entered into a definitive agreement to acquire CWC Energy Services Corp. (TSXV:CWC) from BBU Alta Investments L.P., Brookfield BBP (CANADA) LP, Canada Pension Plan Investment Board, directors, officers and others for approximately CAD 110 million.

Precision Drilling Corporation (TSX:PD) entered into a definitive agreement to acquire CWC Energy Services Corp. (TSXV:CWC) from BBU Alta Investments L.P., Brookfield BBP (CANADA) LP, Canada Pension Plan Investment Board, directors, officers and others for approximately CAD 110 million.

Second quarter 2023 earnings: EPS and revenues exceed analyst expectations

Investor sentiment improves as stock rises 15%

Precision Drilling Corporation to Report Q2, 2023 Results on Jul 27, 2023

Precision Drilling Corporation Provides Activity Update

First quarter 2023 earnings: EPS and revenues exceed analyst expectations

Senior VP & CFO recently sold US$691k worth of stock

Precision Drilling Corporation, Annual General Meeting, May 11, 2023

Full year 2022 earnings: Revenues exceed analyst expectations

Precision Drilling Q4 2022 Earnings Preview

Precision Drilling Corporation to Report Fiscal Year 2022 Results on Feb 09, 2023

Insufficient new directors

Third quarter 2022 earnings: EPS and revenues exceed analyst expectations

Precision Drilling Q3 2022 Earnings Preview

Precision Drilling Corporation Appoints Lori A. Lancaster to Its Board of Directors

Precision Drilling Corporation to Report Q3, 2022 Results on Oct 27, 2022

Precision Drilling receives TSX approval to renew normal course issuer bid

Precision Drilling Corporation (TSX:PD) completed the acquisition of Well servicing business and associated rentals assets of High Arctic Energy Services Inc (TSX:HWO) for CAD 38.2 million.

Second quarter 2022 earnings: EPS and revenues exceed analyst expectations

Precision Drilling Q2 2022 Earnings Preview

Precision Drilling Corporation (TSX:PD) entered into an asset purchase agreement to acquire Well servicing business and associated rentals assets of High Arctic Energy Services Inc (TSX:HWO) for CAD 38.2 million.

Precision Drilling Corporation to Report Q2, 2022 Results on Jul 27, 2022

Chief Administrative Officer recently sold US$100k worth of stock

First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind

Insufficient new directors

Precision Drilling Corporation to Report Q1, 2022 Results on Apr 28, 2022

Beware Of The Risk Of Precision Drilling

Independent Director recently sold US$300k worth of stock

President recently sold US$1.2m worth of stock

Precision Drilling Corporation, Annual General Meeting, May 12, 2022

Full year 2021 earnings: EPS and revenues exceed analyst expectations

Precision Drilling Announces Operational Updates

Precision Drilling: Good Buying Opportunity

Third quarter 2021 earnings released: CA$2.86 loss per share (vs CA$2.08 loss in 3Q 2020)

Take Advantage Of The Rally And Sell Precision Drilling

Second quarter 2021 earnings released: CA$5.71 loss per share (vs CA$3.56 loss in 2Q 2020)

Precision Drilling: Medium-Term Margin Growth Remains The Key

Precision Drilling Corporation Launches Evergreen Suite of Environmental Solutions

First quarter 2021 earnings released: CA$2.71 loss per share (vs CA$0.38 loss in 1Q 2020)

Full year 2020 earnings released: CA$8.76 loss per share (vs CA$0.46 profit in FY 2019)

New 90-day high: US$25.62

Precision Drilling Corporation, Annual General Meeting, May 13, 2021

Full year 2020 earnings released: CA$8.76 loss per share (vs CA$0.46 profit in FY 2019)

Revenue and earnings beat expectations

New 90-day high: US$25.16

Precision Drilling Corporation to Report Q4, 2020 Results on Feb 10, 2021

New 90-day high: US$22.81

Precision Drilling: Time To Shine

New 90-day high: US$19.93

Third quarter earnings released

Third-quarter earnings released: Revenue beats expectations