A Business at a Glance
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Unless the context otherwise requires, all references in this section to the “Company,” “DTIC,” “we,” “us,” or “our” refer to the business of Drilling Tools International Corporation and its consolidated subsidiaries following the consummation of the Merger (defined below), and to Drilling Tools International Holdings, Inc. and its consolidated subsidiaries prior to the consummation of the Merger. Our Company Drilling Tools International Corporation, a Delaware corporation ("DTIC" or the "Company"), is a global oilfield services company that designs, engineers, manufactures and provides a differentiated, rental-focused offering of tools for use in onshore and offshore horizontal and directional drilling operations, as well as other cutting-edge solutions across the well life cycle. Drilling and producing oil and gas is a complex endeavor that requires tools of various shapes and sizes.
| Metric | TTM | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Revenue | 201M | 154M | 152M | 130M |
| Net Income | -5.5M | 3.0M | 14M | 20M |
| EPS | $-0.17 | $0.09 | $0.59 | $1.07 |
| Free Cash Flow | -6.5M | -17M | -20M | -11M |
| ROIC | 0.0% | 12.2% | 25.0% | 73.8% |
| Gross Margin | - | 75.1% | 76.6% | - |
| Debt/Equity | 0.18 | 0.22 | 0.00 | 1.80 |
| Dividends/Share | $0.00 | - | - | - |
| Operating Income | 0 | 13M | 28M | 25M |
| Operating Margin | 0.0% | 8.7% | 18.4% | 19.5% |
| ROE | -4.5% | 2.9% | 16.3% | 63.7% |
| Shares Outstanding | 35M | 33M | 24M | 19M |
| Metric | 2022 | |||
|---|---|---|---|---|
| Income Statement | ||||
| Revenue | 130M | 152M | 154M | 201M |
| Gross Margin | N/A | 76.6% | 75.1% | N/A |
| R&D | N/A | N/A | N/A | N/A |
| SG&A | N/A | N/A | N/A | N/A |
| EBIT | 25M | 28M | 13M | 0 |
| Op. Margin | 19.5% | 18.4% | 8.7% | 0.0% |
| Net Income | 20M | 14M | 3.0M | -5.5M |
| Net Margin | 15.4% | 9.5% | 2.0% | -2.7% |
| Non-Recurring | 127K | 101K | 60K | 60K |
| Returns on Capital | ||||
| ROIC | 73.8% | 25.0% | 12.2% | 0.0% |
| ROE | 63.7% | 16.3% | 2.9% | -4.5% |
| ROA | 18.9% | 10.9% | 1.7% | -556.1% |
| Cash Flow | ||||
| Op. Cash Flow | 14M | 23M | 6.1M | 16M |
| Free Cash Flow | -11M | -20M | -17M | -6.5M |
| Owner Earnings | -5.7M | -1.0M | -20M | -9.7M |
| CapEx | 25M | 44M | 23M | 23M |
| Maint. CapEx | 20M | 20M | 24M | 24M |
| Growth CapEx | 5.0M | 23M | 0 | 0 |
| D&A | 20M | 20M | 24M | 24M |
| CapEx/OCF | 176.4% | 187.5% | 377.9% | 139.7% |
| Capital Allocation | ||||
| Dividends Paid | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 0 | 4.0M | 2.1M | 2.1M |
| Debt Repayment | 1.0M | 0 | 3.5M | 3.5M |
| Balance Sheet | ||||
| Net Debt | N/A | -6.0M | 20M | 18M |
| Cash & Equiv. | N/A | N/A | N/A | 4.4M |
| Long-Term Debt | N/A | 0 | 20M | 20M |
| Debt/Equity | 1.80 | 0.00 | 0.22 | 0.18 |
| Interest Coverage | 53.0 | 25.3 | 4.0 | 4.0 |
| Equity | 31M | 89M | 120M | 121M |
| Total Assets | 105M | 132M | 222M | 981K |
| Total Liabilities | 56M | 44M | 102M | 106M |
| Intangibles | N/A | N/A | 12M | 12M |
| Retained Earnings | -21M | -6.3M | -3.6M | -3.6M |
| Working Capital | 3.9M | 24M | 37M | 37M |
| Current Assets | 40M | 46M | 68M | 68M |
| Current Liabilities | 36M | 22M | 31M | 31M |
| Per Share Data | ||||
| EPS | 1.07 | 0.59 | 0.09 | -0.17 |
| Owner EPS | -0.31 | -0.04 | -0.59 | -0.27 |
| Book Value | 1.68 | 3.63 | 3.58 | 3.44 |
| Cash Flow/Share | 0.75 | 0.95 | 0.18 | 0.52 |
| Dividends/Share | N/A | N/A | N/A | 0.00 |
| Shares Out. | 18.6M | 24.5M | 33.5M | 35.2M |
| Valuation | ||||
| P/E Ratio | 9.6 | 5.4 | 34.4 | -17.1 |
| P/FCF | N/A | N/A | N/A | N/A |
| EV/EBIT | N/A | 2.6 | 9.3 | N/A |
| Price/Book | 6.1 | 0.9 | 0.9 | 0.8 |
| Price/Sales | 1.4 | 1.1 | 0.9 | 0.5 |
| FCF Yield | -5.6% | -26.1% | -16.2% | -6.3% |
| Market Cap | 190M | 78M | 104M | 102M |
| Avg. Price | 9.99 | 6.77 | 4.10 | 2.91 |
| Year-End Price | 10.24 | 3.20 | 3.10 | 2.91 |
Drilling Tools International Corp passes 5 of 9 quality checks, suggesting mixed fundamentals.
The company's 5-year average ROIC is 37.0% with a gross margin of 75.9%. At current prices, the estimated annualized return to fair value is -24.4%.
Drilling Tools International Corp (DTI) has a 5-year average return on invested capital (ROIC) of 37.0%. This indicates strong capital allocation and a potential competitive advantage.
Drilling Tools International Corp (DTI) has a market capitalization of $102M. It is classified as a small-cap stock.
Drilling Tools International Corp (DTI) does not currently pay a regular dividend.
Drilling Tools International Corp (DTI) operates in the Oil & Gas Field Machinery & Equipment industry, within the Industrials sector.
Drilling Tools International Corp (DTI) reported annual revenue of $154 million in its most recent fiscal year, based on SEC EDGAR filings.
Drilling Tools International Corp (DTI) has a net profit margin of 2.0%. This is a modest margin.
Drilling Tools International Corp (DTI) generated $-17 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
Drilling Tools International Corp (DTI) has a debt-to-equity ratio of 0.22. This indicates a conservatively financed balance sheet.
Drilling Tools International Corp (DTI) reported earnings per share (EPS) of $0.09 in its most recent fiscal year.
Drilling Tools International Corp (DTI) has a return on equity (ROE) of 2.9%. This indicates moderate shareholder returns.
Drilling Tools International Corp (DTI) has a 5-year average gross margin of 75.9%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 3 years of financial data for Drilling Tools International Corp (DTI), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Drilling Tools International Corp (DTI) has a book value per share of $3.58, based on its most recent annual SEC filing.