This company listing is no longer active
ION Geophysical (IOGP.Q) Stock Overview
ION Geophysical Corporation provides data-driven decision-making to offshore energy, and ports, and defense industries worldwide. More details
| Snowflake Score | |
|---|---|
| Valuation | 2/6 |
| Future Growth | 0/6 |
| Past Performance | 0/6 |
| Financial Health | 0/6 |
| Dividends | 0/6 |
IOGP.Q Community Fair Values
Create NarrativeSee what others think this stock is worth. Follow their fair value or set your own to get alerts.
ION Geophysical Corporation Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$0.003 |
| 52 Week High | US$2.67 |
| 52 Week Low | US$0.002 |
| Beta | 2.63 |
| 1 Month Change | -86.36% |
| 3 Month Change | -97.50% |
| 1 Year Change | -99.81% |
| 3 Year Change | -99.97% |
| 5 Year Change | -99.97% |
| Change since IPO | -99.99% |
Recent News & Updates
ION Geophysical Corporation Files For Bankruptcy Protection - Sell
Company files for bankruptcy protection to restructure almost $150 million in debt after a multi-month review of strategic alternatives failed to yield tangible results. Under the terms of the restructuring support agreement, holders of the company's new second lien notes due 2025 will own 99.75% of the new equity. Current equityholders will be allocated a measly 0.25% of the restructured company, still subject to dilution by the management incentive plan. Downside in the common shares calculates to 98%. Unfortunately, sky-high borrowing rates, elevated margin requirements and some uncertainties related to the ongoing marketing process are likely to keep investors sidelined. Existing equityholders should sell their positions and move on ahead of the shares' expected delisting from the NYSE next week.ION Geophysical Corporation: Stock Craters After Reports Of Upcoming Chapter 11 Filing
Stock takes a beating after reports of the company looking to sell itself in a court-supervised auction emerged. Last month, the company missed an aggregate $12.3 million in bond principal and interest payments. The company has entered into forbearance agreements with lenders which are scheduled to expire on February 15. A sale of the business under chapter 11 is unlikely to generate sufficient proceeds to repay creditors, which would result in equityholders being wiped out. Investors should consider selling existing positions and moving on. Even after Thursday's sell-off, a short position could still yield decent gains.ION Geophysical Corporation: Pre-Packaged Bankruptcy Likely After Missed Debt Payments
ION suffers from ongoing weak seismic data customer demand in its core offshore oil and gas segment. Last week, the company missed an aggregate $12.3 million in bond principal and interest payments ahead of a likely comprehensive debt restructuring. Language used in the recent 8-K hints at a pre-packaged chapter 11 filing. Should the company indeed file for bankruptcy, existing equity holders are unlikely to receive a meaningful recovery given the sheer amount of debt ranking ahead of them. Investors should consider selling existing positions and moving on. Even a short position could still yield decent gains.ION Geophysical Corporation - Review Of Strategic Alternatives Is A Cause For Concern
Company suffers from ongoing weak seismic data customer demand in its core offshore oil and gas segment. H1 results came in well below management's expectations with a negative free cash flow of $32.7 million. With limited cash available, its credit facility effectively maxed out and the requirement to repay approximately $7.5 million in bond debt in December, ION needs to raise additional funds soon. Recently initiated review of strategic alternatives unlikely to be successful given the dismal state of the core business and the company's substantial debt obligations. A short position could yield decent results but sky-high borrowing rates are likely to keep even speculative investors sidelined at this point.Recent updates
Shareholder Returns
| IOGP.Q | US Energy Services | US Market | |
|---|---|---|---|
| 7D | -92.0% | 1.1% | -0.8% |
| 1Y | -99.8% | 92.8% | 27.1% |
Return vs Industry: IOGP.Q underperformed the US Energy Services industry which returned 1.2% over the past year.
Return vs Market: IOGP.Q underperformed the US Market which returned 15.2% over the past year.
Price Volatility
| IOGP.Q volatility | |
|---|---|
| IOGP.Q Average Weekly Movement | 53.8% |
| Energy Services Industry Average Movement | 7.2% |
| Market Average Movement | 7.2% |
| 10% most volatile stocks in US Market | 16.3% |
| 10% least volatile stocks in US Market | 3.2% |
Stable Share Price: IOGP.Q's share price has been volatile over the past 3 months.
Volatility Over Time: IOGP.Q's weekly volatility has increased from 39% to 54% over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1968 | 360 | Chris Usher | www.iongeo.com |
ION Geophysical Corporation provides data-driven decision-making to offshore energy, and ports, and defense industries worldwide. The company operates through two segments, E&P Technology & Services and Operations Optimization. The E&P Technology & Services segment creates digital data assets and delivers services to help E&P companies improve decision-making and reduce risk.
ION Geophysical Corporation Fundamentals Summary
| IOGP.Q fundamental statistics | |
|---|---|
| Market cap | US$88.74k |
| Earnings (TTM) | -US$44.34m |
| Revenue (TTM) | US$105.44m |
Is IOGP.Q overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| IOGP.Q income statement (TTM) | |
|---|---|
| Revenue | US$105.44m |
| Cost of Revenue | US$71.27m |
| Gross Profit | US$34.17m |
| Other Expenses | US$78.51m |
| Earnings | -US$44.34m |
Last Reported Earnings
Sep 30, 2021
Next Earnings Date
n/a
| Earnings per share (EPS) | -1.50 |
| Gross Margin | 32.41% |
| Net Profit Margin | -42.05% |
| Debt/Equity Ratio | -205.4% |
How did IOGP.Q perform over the long term?
See historical performance and comparisonCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2022/09/13 10:43 |
| End of Day Share Price | 2022/09/12 00:00 |
| Earnings | 2021/09/30 |
| Annual Earnings | 2020/12/31 |
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 |
| |
| Analyst Consensus Estimates | +3 years |
|
|
| Market Prices | 30 years |
| |
| Ownership | 10 years |
| |
| Management | 10 years |
| |
| Key Developments | 10 years |
|
* 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.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
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 Github.
Analyst Sources
ION Geophysical Corporation is covered by 15 analysts. 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 |
|---|---|
| Jeffrey Campbell | Alliance Global Partners |
| James West | Barclays |
| Rudolf Hokanson | Barrington Research Associates, Inc. |