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 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 | Q1 '21 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $945.09M | $935.67M | - | $896.01M | $842.91M | $635.04M | - | $393.16M | $292.14M | $228.40M |
| Cost of Revenue | $676.30M | $673.94M | - | $682.68M | $649.87M | $524.66M | - | $344.64M | $269.26M | $217.78M |
| Gross Profit | $268.79M | $261.73M | - | $213.33M | $193.05M | $110.39M | - | $49.09M | $23.12M | $17.09M |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $39.70M | $39.68M | - | $37.41M | $35.85M | $35.86M | - | $37.45M | $20.73M | $16.07M |
| Total Operating Expenses | $790.55M | $776.20M | - | $793.69M | $767.33M | $624.09M | - | $430.57M | $328.83M | $275.12M |
| D&A | $63.50M | $58.65M | - | $56.54M | $58.79M | $55.16M | - | $44.86M | $40.67M | $45.87M |
| Operating Income | $154.54M | $159.47M | - | $102.32M | $75.58M | $10.96M | - | ($37.41M) | ($36.68M) | ($46.72M) |
| Interest Expense | $7.31M | $6.20M | - | $7.15M | $7.34M | $7.37M | - | $6.70M | $5.73M | $4.21M |
| Income Tax | $100.0K | ($101.00M) | - | $1.56M | $1.24M | $160.0K | - | $472.0K | $621.0K | $857.0K |
| Net Income | $150.06M | $253.99M | - | $104.73M | $68.46M | $8.79M | - | ($43.99M) | ($31.78M) | ($54.50M) |
| EPS - Basic | $0.66 | $1.09 | - | $0.43 | $0.28 | $0.04 | - | ($0.20) | ($0.15) | ($0.25) |
| EPS - Diluted | $0.64 | $1.07 | - | $0.42 | $0.27 | $0.04 | - | ($0.20) | ($0.15) | ($0.25) |
Balance Sheet
| Line item | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 | Q1 '21 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $310.17M | $218.50M | $218.48M | $250.21M | $158.14M | $99.79M | $110.69M | $135.53M | $250.44M | $271.64M |
| Accounts Receivable | $443.74M | $487.90M | $397.20M | $479.67M | $456.63M | $391.68M | $301.74M | $265.39M | $157.74M | $163.54M |
| Inventory | $73.42M | $66.26M | $66.39M | $60.01M | $57.23M | $50.95M | $38.09M | $38.11M | $30.97M | $31.62M |
| Accounts Payable | $347.59M | $335.42M | $202.94M | $288.29M | $260.22M | $239.77M | $190.96M | $179.20M | $122.89M | $88.46M |
| Current Assets | $876.89M | $813.60M | $726.01M | $843.42M | $726.75M | $590.74M | $507.71M | $496.87M | $491.11M | $488.02M |
| Total Assets | $2.16B | $2.05B | $1.73B | $1.80B | $1.65B | $1.53B | $1.46B | $1.42B | $1.14B | $1.13B |
| Current Liabilities | $640.18M | $673.83M | $553.34M | $648.52M | $610.36M | $540.59M | $471.70M | $461.61M | $282.58M | $245.83M |
| Long-term Debt | $340.33M | $343.89M | $347.43M | $350.99M | $354.50M | $358.03M | $361.50M | $361.84M | $332.12M | $332.78M |
| Total Liabilities | $1.03B | $1.06B | $937.25M | $1.04B | $1.01B | $966.69M | $910.56M | $889.80M | $655.81M | $623.70M |
| Stockholders' Equity | $1.13B | $988.12M | $789.92M | $762.93M | $644.08M | $565.68M | $547.02M | $528.17M | $481.73M | $509.33M |
| Retained Earnings | $177.86M | $27.80M | ($226.19M) | ($359.18M) | ($463.91M) | ($532.37M) | ($541.16M) | ($552.02M) | ($508.02M) | ($476.24M) |
Cash Flow
| Line item | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 | Q1 '21 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | - | $173.25M | - | - | - | $28.67M | - | - | - | ($23.23M) |
| Investing Cash Flow | - | ($96.92M) | - | - | - | ($26.51M) | - | - | - | $20.59M |
| Financing Cash Flow | - | ($76.31M) | - | - | - | ($12.77M) | - | - | - | ($2.05M) |
| CapEx | - | $61.03M | - | - | - | $26.70M | - | - | - | $22.46M |
| Free Cash Flow | - | $112.23M | - | - | - | $1.96M | - | - | - | ($45.69M) |
Ratios
| Metric | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 | Q1 '21 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 28.4% | 28.0% | - | 23.8% | 22.9% | 17.4% | - | 12.5% | 7.9% | 7.5% |
| Operating margin | 16.4% | 17.0% | - | 11.4% | 9.0% | 1.7% | - | -9.5% | -12.6% | -20.5% |
| EBITDA margin | 23.1% | 23.3% | - | 17.7% | 15.9% | 10.4% | - | 1.9% | 1.4% | -0.4% |
| Net margin | 15.9% | 27.1% | - | 11.7% | 8.1% | 1.4% | - | -11.2% | -10.9% | -23.9% |
| Free cash flow margin | - | 12.0% | - | - | - | 0.3% | - | - | - | -20.0% |
| FCF / Net income | - | 0.44 | - | - | - | 0.22 | - | - | - | 0.84 |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 4.2% | 4.2% | - | 4.2% | 4.3% | 5.6% | - | 9.5% | 7.1% | 7.0% |
| Effective tax rate | 0.1% | -66.0% | - | 1.5% | 1.8% | 1.8% | - | - | - | - |
| Return on assets | 6.9% | 12.4% | - | 5.8% | 4.1% | 0.6% | - | -3.1% | -2.8% | -4.8% |
| Return on equity | 13.3% | 25.7% | - | 13.7% | 10.6% | 1.6% | - | -8.3% | -6.6% | -10.7% |
| Return on invested capital | 10.5% | 12.0% | - | 9.1% | 7.4% | 1.2% | - | -3.3% | -3.6% | -4.4% |
| Liquidity | ||||||||||
| Current ratio | 1.37 | 1.21 | 1.31 | 1.30 | 1.19 | 1.09 | 1.08 | 1.08 | 1.74 | 1.99 |
| Quick ratio | 1.26 | 1.11 | 1.19 | 1.21 | 1.10 | 1.00 | 1.00 | 0.99 | 1.63 | 1.86 |
| Cash ratio | 0.48 | 0.32 | 0.39 | 0.39 | 0.26 | 0.18 | 0.23 | 0.29 | 0.89 | 1.10 |
| Leverage | ||||||||||
| Debt / Equity | 0.30 | 0.35 | 0.44 | 0.46 | 0.55 | 0.63 | 0.66 | 0.69 | 0.69 | 0.65 |
| Debt / Assets | 0.16 | 0.17 | 0.20 | 0.19 | 0.21 | 0.23 | 0.25 | 0.26 | 0.29 | 0.29 |
| Debt / EBITDA | 1.56 | 1.58 | - | 2.21 | 2.64 | 5.41 | - | 48.54 | 83.24 | - |
| Interest coverage | 21.2x | 25.7x | - | 14.3x | 10.3x | 1.5x | - | -5.6x | -6.4x | -11.1x |
| Equity multiplier | 1.92 | 2.07 | 2.19 | 2.36 | 2.57 | 2.71 | 2.66 | 2.68 | 2.36 | 2.22 |
| Liabilities / Assets | 0.48 | 0.52 | 0.54 | 0.58 | 0.61 | 0.63 | 0.62 | 0.63 | 0.58 | 0.55 |
| Efficiency | ||||||||||
| Asset turnover | 0.44 | 0.46 | - | 0.50 | 0.51 | 0.41 | - | 0.28 | 0.26 | 0.20 |
| Inventory turnover | 9.21 | 10.17 | - | 11.38 | 11.36 | 10.30 | - | 9.04 | 8.69 | 6.89 |
| Days sales outstanding | 171d | 190d | - | 195d | 198d | 225d | - | 246d | 197d | 261d |
| Days inventory outstanding | 40d | 36d | - | 32d | 32d | 35d | - | 40d | 42d | 53d |
| Days payable outstanding | 188d | 182d | - | 154d | 146d | 167d | - | 190d | 167d | 148d |
| Cash conversion cycle | 23d | 45d | - | 73d | 84d | 94d | - | 97d | 72d | 166d |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 12.1% | 47.3% | - | 127.9% | 188.5% | 178.0% | - | 140.2% | 48.9% | -63.6% |
| Revenue CAGR (3y) | 68.9% | 14.2% | - | 26.4% | 25.4% | 14.6% | - | -11.1% | -20.4% | -23.6% |
| Revenue CAGR (5y) | 10.3% | 12.8% | - | 13.4% | 55.9% | 59.7% | - | - | - | - |
| Gross profit growth (YoY) | 39.2% | 137.1% | - | 334.6% | 735.1% | 545.9% | - | 241.8% | -28.8% | -85.6% |
| Operating income growth (YoY) | 104.5% | 1355.6% | - | - | - | - | - | 59.5% | 66.3% | 29.1% |
| Net income growth (YoY) | 119.2% | 2788.9% | - | - | - | - | - | 57.1% | 71.7% | 24.0% |
| EPS growth (YoY) | 137.0% | 2575.0% | - | - | - | - | - | 58.3% | 71.7% | 26.5% |
| EPS CAGR (3y) | - | - | - | 141.0% | - | - | - | - | - | - |
| EPS CAGR (5y) | 18.8% | - | - | 60.0% | - | - | - | - | - | - |
| FCF growth (YoY) | - | 5620.0% | - | - | - | - | - | - | - | - |
| FCF CAGR (5y) | - | 74.9% | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 75.3% | 74.7% | 44.4% | 44.4% | 33.7% | 11.1% | -1.8% | -14.0% | -32.3% | -37.7% |
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%
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.