Independence Contract Drilling, Inc.

ICD

ICDIndependence Contract Drilling, Inc. US flag

New York Stock Exchange

0.59

USD

-0.06

- -

8.92MMarket Cap

Income Statement (USD)

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	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Sales/Revenue/Turnover	15	43	70	88	70	90	143	204	83	88	187	210
+ Sales & Services Revenue	15	43	70	88	70	90	143	204	83	88	187	210
- Cost of Revenue	21	39	59	73	67	94	126	190	109	115	164	174
+ Cost of Goods & Services	21	39	59	73	67	94	126	190	109	115	164	174
Gross Profit	-6	4	12	15	3	-4	16	13	-26	-27	23	36
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	8	9	12	14	16	13	16	16	13	16	25	25
+ Selling, General & Admin	8	9	12	14	16	13	16	16	13	16	25	24
+ Research & Development	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Operating Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1
Operating Income (Loss)	-14	-5	-1	1	-13	-17	1	-3	-39	-43	-2	11
- Non-Operating (Income) Loss	-4	-1	31	9	9	7	20	58	57	6	70	51
+ Interest Expense, Net	- -	- -	2	3	3	3	8	14	15	15	30	36
+ Interest Expense	- -	- -	2	3	3	3	8	14	15	15	30	36
- Interest Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Op (Income) Loss	-4	-1	29	6	6	4	13	43	43	-10	40	15
Pretax Income	-10	-4	-32	-8	-22	-24	-20	-61	-97	-48	-72	-40
- Income Tax Expense (Benefit)	-5	-2	-3	- -	- -	- -	- -	- -	- -	19	-6	-2
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	-5	-2	-28	-8	-22	-24	-20	-61	-97	-67	-65	-38
- Net Extraordinary Losses (Gains)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Discontinued Operations	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) Incl. MI	-5	-2	-28	-8	-22	-24	-20	-61	-97	-67	-65	-38
- Minority Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income, GAAP	-5	-2	-28	-8	-22	-24	-20	-61	-97	-67	-65	-38
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	-5	-2	-28	-8	-22	-24	-20	-61	-97	-67	-65	-38
EBIT	-14	-5	-1	1	-13	-17	1	-3	-39	-43	-2	11
EBITDA	-8	5	15	22	11	9	31	42	5	-4	39	55
EBITDA Margin (%)	-53.49	12.79	21.99	24.71	15.19	10.07	22.08	20.76	5.47	-4.14	20.62	26.07
EBITA	-14	-5	-1	1	-13	-17	1	-3	-39	-43	-2	11
Gross Margin (%)	-40.87	9.81	16.36	17.17	4.25	-3.97	11.57	6.54	-31.01	-30.37	12.25	17.28
Operating Margin (%)	-92.53	-11.01	-1.01	0.79	-18.79	-18.65	0.41	-1.53	-47.17	-48.39	-1.04	5.34
Profit Margin (%)	-32.72	-4.67	-40.04	-8.91	-31.65	-27	-14.02	-29.86	-115.85	-75.85	-34.99	-17.94
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Depreciation Expense	6	10	16	21	24	26	31	45	44	39	40	44
Basic Weighted Avg Shares	1	1	1	1	2	2	2	4	5	8	13	14
Basic EPS, GAAP	-9.76	-3.28	-32.99	-6.59	-13.39	-12.87	-8.4	-16.11	-19.69	-8.89	-5.01	-2.69
Basic EPS from Cont Ops	-9.76	-3.28	-32.99	-6.59	-13.39	-12.87	-8.4	-16.11	-19.69	-8.89	-5.01	-2.69
Diluted Weighted Avg Shares	1	1	1	1	2	2	2	4	5	8	13	14
Diluted EPS, GAAP	-9.76	-3.28	-32.99	-6.59	-13.39	-12.87	-8.4	-16.11	-19.69	-8.89	-5.01	-2.69
Diluted EPS from Cont Ops	-9.76	-3.28	-32.99	-6.59	-13.39	-12.87	-8.4	-16.11	-19.69	-8.89	-5.01	-2.69

Balance Sheet (USD)

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	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Total Current Assets	48	21	36	29	28	31	86	57	27	32	52	44
+ Cash, Cash Equivalents & STI	37	3	11	5	7	3	12	5	12	4	5	6
+ Cash & Cash Equivalents	37	3	11	5	7	3	12	5	12	4	5	6
+ ST Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Accounts & Notes Receiv	6	9	19	18	11	18	42	36	10	22	40	32
+ Accounts Receivable, Net	5	9	19	18	11	18	42	36	10	22	40	32
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventories	1	1	2	2	2	3	3	2	1	1	2	2
+ Raw Materials	1	1	2	2	2	3	- -	2	1	1	2	2
+ Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	- -	- -	3	- -	- -	- -	- -	- -
+ Other ST Assets	4	8	4	3	7	8	29	13	4	5	5	5
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	120	164	253	285	274	274	499	460	386	365	378	351
+ Property, Plant & Equip, Net	83	129	250	283	273	272	496	458	382	362	376	348
+ Property, Plant & Equip	86	139	272	324	335	357	610	611	565	580	630	625
- Accumulated Depreciation	2	9	22	41	62	85	113	153	183	218	254	277
+ LT Investments & Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	36	34	3	2	1	1	3	3	4	2	2	3
+ Total Intangible Assets	36	33	- -	- -	- -	- -	2	- -	- -	- -	- -	- -
+ Goodwill	11	11	- -	- -	- -	- -	2	- -	- -	- -	- -	- -
+ Other Intangible Assets	25	22	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	- -	1	3	2	1	1	1	3	4	2	2	3
Total Assets	167	185	290	315	302	305	585	517	413	397	430	395
+ Payables & Accruals	12	13	28	14	17	18	44	41	14	33	48	38
+ Accounts Payable	10	9	22	9	10	12	16	23	4	15	32	23
+ Accrued Taxes	1	1	2	3	2	3	4	5	2	3	4	2
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	1	3	4	3	5	4	24	13	7	15	12	13
+ ST Debt	- -	- -	23	- -	- -	1	1	4	9	5	3	2
+ ST Borrowings	- -	- -	23	- -	- -	1	1	- -	4	- -	- -	- -
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	4	4	5	3	2
+ Other ST Liabilities	1	1	1	5	1	1	1	4	- -	1	1	1
+ Deferred Revenue	1	1	1	5	1	1	1	1	- -	1	1	1
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	- -	- -	- -	- -	- -	- -	- -	3	- -	- -	- -	- -
Total Current Liabilities	13	14	52	19	18	19	46	49	22	38	52	41
+ LT Debt	- -	20	23	63	26	49	130	135	138	142	143	155
+ LT Borrowings	- -	20	23	63	26	49	130	127	133	140	142	153
+ LT Finance Leases	- -	- -	- -	- -	- -	- -	- -	7	5	1	2	2
+ Other LT Liabilities	10	7	-22	1	- -	1	17	2	6	22	20	18
+ Accrued Liabilities	6	4	- -	- -	- -	1	1	1	1	19	12	10
+ Pension Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	4	3	-22	- -	- -	- -	16	1	6	3	7	8
Total Noncurrent Liabilities	10	27	1	63	27	50	147	137	144	164	163	173
Total Liabilities	23	40	53	82	45	69	193	185	166	202	215	213
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	151	153	273	277	324	327	504	506	518	533	618	622
+ Common Stock	- -	- -	- -	- -	- -	- -	1	- -	- -	- -	- -	- -
+ Additional Paid in Capital	150	153	273	277	324	327	503	506	518	533	618	622
- Treasury Stock	1	1	1	1	2	2	3	4	4	4	4	4
+ Retained Earnings	-5	-7	-35	-43	-65	-90	-110	-170	-267	-334	-399	-437
+ Other Equity	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Equity Before Minority Interest	145	145	237	233	257	235	392	332	247	195	215	182
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Equity	145	145	237	233	257	235	392	332	247	195	215	182
Total Liabilities & Equity	167	185	290	315	302	305	585	517	413	397	430	395
Shares Outstanding	- -	- -	1	1	2	2	4	4	6	10	14	14
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	- -	- -	- -	- -	- -	- -	- -	12	9	6	5	4
Net Debt	-37	17	34	57	19	47	118	122	125	136	136	147
Net Debt to Equity	-25.85	11.77	14.48	24.65	7.56	20.08	30.23	36.73	50.63	69.81	63.48	81.14
Tangible Common Equity Ratio	82.69	73.55	81.76	73.93	85.15	77.3	66.85	64.14	59.78	49.16	49.97	46.01
Current Ratio	3.82	1.56	0.7	1.56	1.52	1.61	1.86	1.17	1.22	0.84	0.99	1.07
Cash Conversion Cycle	- -	-18.9	-11.44	12.2	39.42	27.63	44.22	37.1	60.74	39.6	11.05	7.63

Cash Flow Statement (USD)

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	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
+ Net Income	-5	-2	-28	-8	-22	-24	-20	-61	-97	-67	-65	-38
+ Depreciation & Amortization	6	10	16	21	24	26	31	45	44	39	40	44
+ Non-Cash Items	-7	-1	29	11	11	9	6	44	45	18	61	54
+ Stock-Based Compensation	2	2	3	4	4	4	5	2	2	2	5	6
+ Deferred Income Taxes	-5	-2	-4	- -	- -	- -	- -	- -	- -	19	-7	-3
+ Asset Impairment Charge	- -	- -	32	3	4	3	1	36	41	1	- -	15
+ Other Non-Cash Adj	-4	-1	-3	4	2	2	- -	6	2	-3	63	35
+ Chg in Non-Cash Work Cap	-2	-1	-14	4	4	-5	- -	- -	8	- -	-8	2
+ (Inc) Dec in Accts Receiv	-5	-3	-10	1	7	-7	-1	6	26	-12	-18	6
+ (Inc) Dec in Inventories	-1	- -	-1	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ (Inc) Dec in Prepaid Assets	- -	-5	-1	-1	- -	- -	-5	1	-1	- -	- -	-1
+ Inc (Dec) in Accts Payable	3	7	-1	4	-3	2	5	-7	-17	12	10	-3
+ Inc (Dec) in Other	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	-8	6	4	27	17	5	16	28	- -	-10	29	61
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-67	-60	-115	-76	-21	-31	-38	-38	-14	-16	-43	-41
+ Acq of Fixed Prod Assets	-67	-60	-115	-76	-21	-31	-38	-38	-14	-16	-43	-41
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash (Repurchase) of Equity	98	- -	116	- -	43	- -	-1	-1	10	13	3	- -
+ Increase in Capital Stock	98	- -	116	- -	43	- -	- -	- -	10	13	3	- -
+ Decrease in Capital Stock	-1	- -	- -	- -	- -	- -	-1	-1	- -	- -	- -	- -
+ Net Change in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Dec in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Acq & Div	- -	- -	- -	- -	- -	- -	11	- -	- -	- -	- -	- -
+ Cash from Divestitures	- -	- -	- -	- -	- -	- -	11	- -	- -	- -	- -	- -
+ Cash for Acq of Subs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	17	- -	3	3	1	1	2	10	5	2	5	4
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	-50	-59	-113	-72	-20	-30	-25	-28	-9	-14	-38	-36
+ Dividends Paid	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Debt	-2	20	3	40	-37	22	25	-6	6	3	18	-24
+ Cash From Debt	- -	37	138	141	49	44	186	5	21	6	163	35
+ Repayments of Debt	-2	-17	-135	-100	-87	-22	-161	-10	-15	-4	-145	-59
+ Other Financing Activities	- -	-1	-2	- -	- -	-1	-5	- -	- -	- -	-10	-1
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	95	19	117	39	5	21	19	-7	16	16	11	-25
Effect of Foreign Exchange Rates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Changes in Cash	37	-35	8	-5	2	-5	10	-7	7	-8	1	- -
EBITDA	-8	5	15	22	11	9	31	42	5	-4	39	55
EBITDA Margin (%)	-53.49	12.79	21.99	24.71	15.19	10.07	22.08	20.76	5.47	-4.14	20.62	26.07
Free Cash Flow	-75	-54	-112	-48	-4	-26	-21	-10	-14	-26	-14	20
Net Cash Paid for Acquisitions	- -	- -	- -	- -	- -	- -	-11	- -	- -	- -	- -	- -
Free Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Free Cash Flow to Equity	- -	-34	-109	-8	-42	-4	3	-16	-8	-23	4	-4
Free Cash Flow per Basic Share	-148.31	-88.17	-130.67	-40.29	-2.5	-13.99	-9	-2.76	-2.84	-3.46	-1.11	1.45
Price/Free Cash Flow	- -	- -	0.75	1.17	5.83	4.14	2.77	1.14	0.99	3.29	0.59	0.34
Cash Flow to Net Income	1.68	-3	-0.14	-3.47	-0.77	-0.2	-0.81	-0.46	- -	0.14	-0.44	-1.62
Capital Expenditures	-67	-60	-115	-76	-21	-31	-38	-38	-14	-16	-43	-41