Independence Contract Drilling Balance Sheet Health
Financial Health criteria checks 2/6
Independence Contract Drilling has a total shareholder equity of $140.1M and total debt of $165.7M, which brings its debt-to-equity ratio to 118.3%. Its total assets and total liabilities are $356.9M and $216.8M respectively.
Key information
118.3%
Debt to equity ratio
US$165.69m
Debt
| Interest coverage ratio | n/a |
| Cash | US$6.08m |
| Equity | US$140.07m |
| Total liabilities | US$216.79m |
| Total assets | US$356.85m |
Recent financial health updates
Does Independence Contract Drilling (NYSE:ICD) Have A Healthy Balance Sheet?
May 09
We Think Independence Contract Drilling (NYSE:ICD) Is Taking Some Risk With Its Debt
Jan 10Independence Contract Drilling (NYSE:ICD) Seems To Be Using A Lot Of Debt
Jun 14Recent updates
Improved Revenues Required Before Independence Contract Drilling, Inc. (NYSE:ICD) Shares Find Their Feet
Jun 20Does Independence Contract Drilling (NYSE:ICD) Have A Healthy Balance Sheet?
May 09Independence Contract Drilling's (NYSE:ICD) Returns On Capital Are Heading Higher
Feb 29We Think Independence Contract Drilling (NYSE:ICD) Is Taking Some Risk With Its Debt
Jan 10Independence Contract Drilling, Inc.'s (NYSE:ICD) Shares Lagging The Industry But So Is The Business
Nov 10Independence Contract Drilling (NYSE:ICD) Seems To Be Using A Lot Of Debt
Jun 14Independence Contract Drilling Navigates Through Operational Challenges
Jun 08Health Check: How Prudently Does Independence Contract Drilling (NYSE:ICD) Use Debt?
Feb 22Independence Contract Drilling: Repricing And Profit Growth Potential Are Alluring
Feb 03Independence Contract Drilling Non-GAAP EPS of -$0.35, revenue of $49.1M
Nov 01Is Independence Contract Drilling (NYSE:ICD) Using Debt In A Risky Way?
Oct 28Independence Contract Drilling: Rig Reactivation And Margin Expansion Will Drive It
Oct 06Independence Contract Drilling: Await The Repricing And Contract Renewals
Jul 13Independence Contract Drilling: Better Quality Rigs And Repricing Will Outdo Cash Flow Concerns
Apr 06Independence Contract Drilling: Improved Revenue And Margin Can Bail Out Cash Flow Crunch
Jan 14Financial Position Analysis
Short Term Liabilities: ICDI.Q's short term assets ($30.8M) do not cover its short term liabilities ($40.3M).
Long Term Liabilities: ICDI.Q's short term assets ($30.8M) do not cover its long term liabilities ($176.5M).
Debt to Equity History and Analysis
Debt Level: ICDI.Q's net debt to equity ratio (114%) is considered high.
Reducing Debt: ICDI.Q's debt to equity ratio has increased from 34.7% to 118.3% over the past 5 years.
Balance Sheet
Cash Runway Analysis
For companies that have on average been loss-making in the past, we assess whether they have at least 1 year of cash runway.
Stable Cash Runway: Whilst unprofitable ICDI.Q has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.
Forecast Cash Runway: ICDI.Q is unprofitable but has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 31.5% per year.
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2024/12/23 11:26 |
| End of Day Share Price | 2024/12/23 00:00 |
| Earnings | 2024/09/30 |
| Annual Earnings | 2023/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.
Analysis Model and Snowflake
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Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .
Analyst Sources
Independence Contract Drilling, Inc. is covered by 12 analysts. 0 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Thomas Curran | B. Riley Securities, Inc. |
| Luke Lemoine | Capital One Securities, Inc. |
| Sonny Randhawa | D.A. Davidson & Co. |