ICD · Independence Contract Drilling, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $37.99M | $43.33M | $46.64M | - | $44.16M | $56.36M | $63.76M | - | $49.15M | $42.31M |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $3.57M | $3.73M | $4.34M | - | $6.87M | $5.22M | $6.73M | - | $7.01M | $4.86M |
| Total Operating Expenses | $46.92M | $51.01M | $45.98M | - | $43.38M | $52.46M | $55.03M | - | $48.94M | $43.03M |
| D&A | $12.99M | $12.57M | $11.83M | - | $10.23M | $11.40M | $10.85M | - | $10.12M | $9.85M |
| Operating Income | ($8.93M) | ($7.68M) | $661.0K | - | $780.0K | $3.89M | $8.73M | - | $208.0K | ($717.0K) |
| Interest Expense | - | - | - | - | - | - | - | - | - | - |
| Income Tax | ($687.0K) | ($1.21M) | ($231.0K) | - | ($844.0K) | ($197.0K) | ($2.0K) | - | ($696.0K) | $2.20M |
| Net Income | ($18.49M) | ($16.72M) | ($8.99M) | - | ($7.60M) | ($4.16M) | $12.0K | - | ($7.19M) | ($2.79M) |
| EPS - Basic | ($1.27) | ($1.15) | ($0.62) | - | ($0.54) | ($0.30) | $0.00 | - | ($0.53) | ($2.22) |
| EPS - Diluted | ($1.27) | ($1.15) | ($0.62) | - | ($0.54) | ($0.30) | $0.00 | - | ($0.59) | ($0.21) |
Balance Sheet
| Line item | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $6.08M | $5.54M | $6.94M | $5.57M | $6.04M | $5.58M | $6.71M | $5.33M | $7.57M | $7.29M |
| Accounts Receivable | $21.28M | $30.45M | $27.19M | $31.70M | $26.87M | $34.51M | $41.84M | $39.77M | $33.97M | $26.82M |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | $17.57M | $20.72M | $18.80M | $22.99M | $17.27M | $18.30M | $26.95M | $31.95M | $28.86M | $17.07M |
| Current Assets | $30.83M | $39.89M | $39.40M | $43.58M | $36.65M | $44.49M | $53.97M | $51.67M | $45.91M | $37.90M |
| Total Assets | $356.85M | $374.95M | $384.77M | $394.68M | $406.11M | $420.24M | $435.06M | $429.71M | $413.23M | $396.55M |
| Current Liabilities | $40.32M | $29.89M | $30.11M | $40.59M | $30.81M | $32.06M | $42.57M | $52.04M | $45.45M | $36.27M |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | $216.78M | $217.29M | $211.32M | $213.10M | $199.66M | $207.47M | $219.38M | $215.00M | $203.25M | $180.57M |
| Stockholders' Equity | $140.07M | $157.66M | $173.45M | $181.58M | $206.46M | $212.77M | $215.68M | $214.71M | $209.97M | $215.98M |
| Retained Earnings | ($480.99M) | ($462.50M) | ($445.78M) | ($436.79M) | ($410.84M) | ($403.25M) | ($399.08M) | ($399.10M) | ($402.56M) | ($395.36M) |
Cash Flow
| Line item | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | - | - | $11.00M | - | - | - | $13.56M | - | - | - |
| Investing Cash Flow | - | - | ($8.19M) | - | - | - | ($18.09M) | - | - | - |
| Financing Cash Flow | - | - | ($1.43M) | - | - | - | $5.92M | - | - | - |
| CapEx | - | - | $9.97M | - | - | - | $18.84M | - | - | - |
| Free Cash Flow | - | - | $1.02M | - | - | - | ($5.28M) | - | - | - |
Ratios
| Metric | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | - | - |
| Operating margin | -23.5% | -17.7% | 1.4% | - | 1.8% | 6.9% | 13.7% | - | 0.4% | -1.7% |
| EBITDA margin | 10.7% | 11.3% | 26.8% | - | 24.9% | 27.1% | 30.7% | - | 21.0% | 21.6% |
| Net margin | -48.7% | -38.6% | -19.3% | - | -17.2% | -7.4% | 0.0% | - | -14.6% | -6.6% |
| Free cash flow margin | - | - | 2.2% | - | - | - | -8.3% | - | - | - |
| FCF / Net income | - | - | -0.11 | - | - | - | -439.75 | - | - | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 9.4% | 8.6% | 9.3% | - | 15.5% | 9.3% | 10.6% | - | 14.3% | 11.5% |
| Effective tax rate | - | - | - | - | - | - | -20.0% | - | - | - |
| Return on assets | -5.2% | -4.5% | -2.3% | - | -1.9% | -1.0% | 0.0% | - | -1.7% | -0.7% |
| Return on equity | -13.2% | -10.6% | -5.2% | - | -3.7% | -2.0% | 0.0% | - | -3.4% | -1.3% |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 0.76 | 1.33 | 1.31 | 1.07 | 1.19 | 1.39 | 1.27 | 0.99 | 1.01 | 1.04 |
| Quick ratio | 0.76 | 1.33 | 1.31 | 1.07 | 1.19 | 1.39 | 1.27 | 0.99 | 1.01 | 1.04 |
| Cash ratio | 0.15 | 0.19 | 0.23 | 0.14 | 0.20 | 0.17 | 0.16 | 0.10 | 0.17 | 0.20 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | - | - | - | - | - | - |
| Equity multiplier | 2.55 | 2.38 | 2.22 | 2.17 | 1.97 | 1.98 | 2.02 | 2.00 | 1.97 | 1.84 |
| Liabilities / Assets | 0.61 | 0.58 | 0.55 | 0.54 | 0.49 | 0.49 | 0.50 | 0.50 | 0.49 | 0.46 |
| Efficiency | ||||||||||
| Asset turnover | 0.11 | 0.12 | 0.12 | - | 0.11 | 0.13 | 0.15 | - | 0.12 | 0.11 |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 204d | 257d | 213d | - | 222d | 224d | 240d | - | 252d | 231d |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | -14.0% | -23.1% | -26.9% | - | -10.1% | 33.2% | 82.2% | - | 104.5% | 113.5% |
| Revenue CAGR (3y) | 16.5% | 29.8% | 44.2% | - | 62.9% | 38.1% | 18.3% | - | 2.9% | -7.2% |
| Revenue CAGR (5y) | -3.4% | -3.9% | -5.0% | - | 13.5% | 21.5% | 20.0% | - | 16.0% | 14.7% |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | - | - | -92.4% | - | 275.0% | - | - | - | - | 93.5% |
| Net income growth (YoY) | -143.4% | -301.8% | - | - | -5.6% | -49.1% | - | - | -67.2% | 81.3% |
| EPS growth (YoY) | -135.2% | -283.3% | - | - | 8.5% | -42.9% | - | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | - | - | - | 33.5% | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | -32.2% | -25.9% | -19.6% | -15.4% | -1.7% | -1.5% | 44.5% | 10.0% | -4.2% | -2.2% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2023-12-31.
Product / service
$210.11M totalDayrate Drilling$189.31M · 90.1%
Reimbursables$9.30M · 4.4%
Early Termination$5.86M · 2.8%
Mobilization$5.12M · 2.4%
Capital Modification$387.0K · 0.2%
Other Products And Services$113.0K · 0.1%
Peer comparison
Same SIC group: Drilling Oil & Gas Wells
Comparing Independence Contract Drilling against the 5 most active filers in the same SIC group.