Independence Contract Drilling Inc

Company Profile

Independence Contract Drilling Inc had its IPO on 2014-08-08 under the ticker symbol ICD.

The company operates in the Energy sector and Oil & Gas Drilling industry. Independence Contract Drilling Inc has a staff strength of 600 employees.

Stock update

Shares of Independence Contract Drilling Inc opened at $2.9 at the start of the last trading session i.e. 2023-09-12.

The stocks traded within a range of $2.9 - $3.06, and closed at $3.06.

This is a +5.88% increase from the previous day's closing price.

A total volume of 104,496 shares were traded at the close of the day’s session.

In the last one week, shares of Independence Contract Drilling Inc have slipped by -2.86%.

Independence Contract Drilling Inc's Key Ratios

Independence Contract Drilling Inc has a market cap of $40.71 million, indicating a price to book ratio of 0.1991 and a price to sales ratio of 0.264.

In the last 12-months Independence Contract Drilling Inc’s revenue was $229.52 million with a gross profit of $63.31 million and an EBITDA of $64.23 million. The EBITDA ratio measures Independence Contract Drilling Inc's overall financial performance and is widely used to measure its profitability.

In the trailing 12-month period, Independence Contract Drilling Inc’s operating margin was 9.21% while its return on assets stood at 3.23% with a return of equity of -3.68%.

In Q2, Independence Contract Drilling Inc’s quarterly earnings growth was a positive 0% while revenue growth was a positive 33.2%.

Independence Contract Drilling Inc’s PE and PEG Ratio

Forward PE

3.4495

Trailing PE

0

PEG

-0.96

Its diluted EPS in the last 12-months stands at $-0.36 per share while it has a forward price to earnings multiple of 3.4495 and a PEG multiple of -0.96. A low price to earnings ratio can mean the stock is attractively valued while a high ratio suggests the stock may be overvalued.

The PEG on the other hand provides a broader view compared to the P/E ratio and gives greater insight into Independence Contract Drilling Inc’s profitability.

Independence Contract Drilling Inc stock is trading at a EV to sales ratio of 1.1291 and a EV to EBITDA ratio of -10.4536. Its price to sales ratio in the trailing 12-months stood at 0.264.

Independence Contract Drilling Inc stock pays annual dividends of $0 per share, indicating a yield of 0% and a payout ratio of 0%.

Balance sheet and cash flow metrics

Total Assets

$420.24 million

Total Liabilities

$32.06 million

Operating Cash Flow

$-11531000.00

Capital Expenditure

$12.33 million

Dividend Payout Ratio

0%

Independence Contract Drilling Inc ended 2024 with $420.24 million in total assets and $0 in total liabilities. Its intangible assets were valued at $420.24 million while shareholder equity stood at $212.77 million.

Independence Contract Drilling Inc ended 2024 with $11.90 million in deferred long-term liabilities, $32.06 million in other current liabilities, 141000.00 in common stock, $-403246000.00 in retained earnings and $0 in goodwill. Its cash balance stood at $5.58 million and cash and short-term investments were $5.58 million. The company’s total short-term debt was $2,932,000 while long-term debt stood at $153.48 million.

Independence Contract Drilling Inc’s total current assets stands at $44.49 million while long-term investments were $0 and short-term investments were $0. Its net receivables were $34.51 million compared to accounts payable of $18.30 million and inventory worth $1.66 million.

In 2024, Independence Contract Drilling Inc's operating cash flow was $-11531000.00 while its capital expenditure stood at $12.33 million.

Comparatively, Independence Contract Drilling Inc paid $0 in dividends in 2024.

Other key metrics

Current Trading Price

$3.06

52-Week High

$5.25

52-Week Low

$2.49

Analyst Target Price

$4.85

Independence Contract Drilling Inc stock is currently trading at $3.06 per share. It touched a 52-week high of $5.25 and a 52-week low of $5.25. Analysts tracking the stock have a 12-month average target price of $4.85.

Its 50-day moving average was $2.91 and 200-day moving average was $3.26 The short ratio stood at 12.24 indicating a short percent outstanding of 0%.

Around 790.5% of the company’s stock are held by insiders while 3414.2% are held by institutions.