NEX · Nextier Oilfield Solutions 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 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|
| Revenue | $3.24B | $1.42B | $1.20B | $1.82B | $420.57M | $420.57M |
| Cost of Revenue | $2.49B | $1.26B | $1.03B | $1.40B | $416.34M | - |
| Gross Profit | $754.73M | $175.88M | $190.34M | $417.62M | $476.46M | $4.23M |
| R&D | $3.60M | $5.00M | $4.80M | $7.10M | $7.10M | $2.20M |
| SG&A | $146.00M | $109.40M | $144.15M | $123.68M | $114.26M | $53.16M |
| Total Operating Expenses | $2.91B | $1.53B | $1.53B | $1.91B | $2.04B | $570.27M |
| D&A | $229.26M | $184.16M | $302.05M | $292.15M | $259.14M | $100.98M |
| Operating Income | $332.65M | ($105.26M) | ($331.28M) | ($83.75M) | $98.01M | ($149.70M) |
| Interest Expense | $28.38M | $24.61M | $20.65M | $21.86M | $33.50M | $38.30M |
| Income Tax | $4.56M | $1.69M | $1.47M | $1.00M | $4.27M | ($114.0K) |
| Net Income | $314.97M | ($119.42M) | ($346.88M) | ($106.16M) | $59.33M | ($187.09M) |
| EPS - Basic | $1.29 | ($0.53) | ($1.62) | ($0.86) | $0.54 | ($2.14) |
| EPS - Diluted | $1.26 | ($0.53) | ($1.62) | ($0.86) | $0.54 | ($2.14) |
Balance Sheet
| Line item | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $218.48M | $110.69M | $275.99M | $255.01M | $80.21M | $96.12M |
| Accounts Receivable | $397.20M | $301.74M | $122.58M | $350.76M | $210.43M | $238.02M |
| Inventory | $66.39M | $38.09M | $30.07M | $61.64M | $35.67M | $33.44M |
| Accounts Payable | $202.94M | $190.96M | $61.26M | $115.25M | $106.70M | $92.35M |
| Current Assets | $726.01M | $507.71M | $486.78M | $688.05M | $332.26M | $376.09M |
| Total Assets | $1.73B | $1.46B | $1.16B | $1.66B | $1.05B | $1.04B |
| Current Liabilities | $553.34M | $471.70M | $220.16M | $386.19M | $220.58M | $242.15M |
| Long-term Debt | $347.43M | $361.50M | $333.29M | $335.31M | $337.95M | $273.71M |
| Total Liabilities | $937.25M | $910.56M | $600.60M | $778.13M | $567.40M | $530.02M |
| Stockholders' Equity | $789.92M | $547.02M | $557.29M | $886.77M | $487.18M | $513.09M |
| Retained Earnings | ($226.19M) | ($541.16M) | ($421.74M) | ($73.33M) | $31.49M | ($27.37M) |
Cash Flow
| Line item | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $454.39M | ($50.79M) | $68.89M | $305.46M | $350.31M | ($54.05M) |
| Investing Cash Flow | ($186.23M) | ($163.20M) | ($37.84M) | ($114.10M) | ($297.51M) | ($227.16M) |
| Financing Cash Flow | ($161.49M) | $48.29M | ($9.82M) | ($16.75M) | ($68.55M) | $276.63M |
| CapEx | $215.42M | $184.50M | $113.51M | $200.38M | $277.57M | $23.13M |
| Free Cash Flow | $238.97M | ($235.28M) | ($44.62M) | $105.08M | $72.74M | ($77.18M) |
Ratios
| Metric | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 23.3% | 12.4% | 15.8% | 22.9% | 113.3% | 1.0% |
| Operating margin | 10.3% | -7.4% | -27.5% | -4.6% | 23.3% | -35.6% |
| EBITDA margin | 17.3% | 5.5% | -2.4% | 11.4% | 84.9% | -11.6% |
| Net margin | 9.7% | -8.4% | -28.8% | -5.8% | 14.1% | -44.5% |
| Free cash flow margin | 7.4% | -16.5% | -3.7% | 5.8% | 17.3% | -18.4% |
| FCF / Net income | 0.76 | 1.97 | 0.13 | -0.99 | 1.23 | 0.41 |
| R&D / Revenue | 0.1% | 0.4% | 0.4% | 0.4% | 1.7% | 0.5% |
| SG&A / Revenue | 4.5% | 7.7% | 12.0% | 6.8% | 27.2% | 12.6% |
| Effective tax rate | 1.4% | - | - | - | 6.7% | - |
| Return on assets | 18.2% | -8.2% | -30.0% | -6.4% | 5.6% | -17.9% |
| Return on equity | 39.9% | -21.8% | -62.2% | -12.0% | 12.2% | -36.5% |
| Return on invested capital | 28.8% | -9.2% | -29.4% | -5.4% | 11.1% | -15.0% |
| Liquidity | ||||||
| Current ratio | 1.31 | 1.08 | 2.21 | 1.78 | 1.51 | 1.55 |
| Quick ratio | 1.19 | 1.00 | 2.07 | 1.62 | 1.34 | 1.42 |
| Cash ratio | 0.39 | 0.23 | 1.25 | 0.66 | 0.36 | 0.40 |
| Leverage | ||||||
| Debt / Equity | 0.44 | 0.66 | 0.60 | 0.38 | 0.69 | 0.53 |
| Debt / Assets | 0.20 | 0.25 | 0.29 | 0.20 | 0.32 | 0.26 |
| Debt / EBITDA | 0.62 | 4.58 | - | 1.61 | 0.95 | - |
| Interest coverage | 11.7x | -4.3x | -16.0x | -3.8x | 2.9x | -3.9x |
| Equity multiplier | 2.19 | 2.66 | 2.08 | 1.88 | 2.16 | 2.03 |
| Liabilities / Assets | 0.54 | 0.62 | 0.52 | 0.47 | 0.54 | 0.51 |
| Efficiency | ||||||
| Asset turnover | 1.88 | 0.98 | 1.04 | 1.09 | 0.40 | 0.40 |
| Inventory turnover | 37.50 | 32.95 | 34.34 | 22.78 | 11.67 | - |
| Days sales outstanding | 45d | 77d | 37d | 70d | 183d | 207d |
| Days inventory outstanding | 10d | 11d | 11d | 16d | 31d | - |
| Days payable outstanding | 30d | 56d | 22d | 30d | 94d | - |
| Cash conversion cycle | 25d | 33d | 26d | 56d | 120d | - |
| Valuation | ||||||
| P / E | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - |
| Growth | ||||||
| Revenue growth (YoY) | 128.0% | 18.4% | -34.0% | 333.1% | 0.0% | - |
| Revenue CAGR (3y) | 21.2% | 50.1% | 41.9% | - | - | - |
| Revenue CAGR (5y) | 50.5% | - | - | - | - | - |
| Gross profit growth (YoY) | 329.1% | -7.6% | -54.4% | -12.3% | 11169.2% | - |
| Operating income growth (YoY) | - | 68.2% | -295.6% | - | - | - |
| Net income growth (YoY) | - | 65.6% | -226.8% | - | - | - |
| EPS growth (YoY) | - | 67.3% | -88.4% | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | - | -427.3% | - | 44.5% | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - |
| Book value growth (YoY) | 44.4% | -1.8% | -37.2% | 82.0% | -5.0% | - |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2021-12-31.
Business segments
$1.42B totalCompletion Services$1.32B · 93.1%
WCI$98.55M · 6.9%
Stability scores
Altman Z′
FY 2022 · bankruptcy risk
2.79
Grey zone
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2022 · 9-point quality
8/9
Strong
- ✓Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- ✓Long-term debt decreased
- ✓Current ratio improved
- ✗No share dilution
- ✓Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Oil & Gas Field Services, NEC
Comparing NEXTIER OILFIELD SOLUTIONS INC. against the 5 most active filers in the same SIC group.