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 14Health Check: How Prudently Does Independence Contract Drilling (NYSE:ICD) Use Debt?
Feb 22Recent 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 14Independence Contract Drilling reports Q1 results
May 04Independence Contract Drilling EPS beats by $0.48, beats on revenue
Nov 03Financial Position Analysis
Short Term Liabilities: ICDI's short term assets ($30.8M) do not cover its short term liabilities ($40.3M).
Long Term Liabilities: ICDI's short term assets ($30.8M) do not cover its long term liabilities ($176.5M).
Debt to Equity History and Analysis
Debt Level: ICDI's net debt to equity ratio (114%) is considered high.
Reducing Debt: ICDI'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 has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.
Forecast Cash Runway: ICDI 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.