Precision Drilling (PDS)
Market Price (3/13/2026): $92.71 | Market Cap: $1.2 BilSector: Energy | Industry: Oil & Gas Drilling
Precision Drilling (PDS)
Market Price (3/13/2026): $92.71Market Cap: $1.2 BilSector: EnergyIndustry: Oil & Gas Drilling
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 25%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 11% | Trading close to highsDist 52W High is -1.1%, Dist 3Y High is -1.1% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 59% |
| Attractive yieldFCF Yield is 17% | Weak multi-year price returns3Y Excs Rtn is -13% | Stock price has recently run up significantly12M Rtn12 month market price return is 108% |
| Low stock price volatilityVol 12M is 41% | Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -5.5%, Rev Chg QQuarterly Revenue Change % is -3.1% | |
| Megatrend and thematic driversMegatrends include US Energy Independence, Automation & Robotics, and Energy Transition & Decarbonization. Themes include US Oilfield Technologies, Show more. | Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 63% | |
| Key risksPDS key risks include [1] its substantial debt obligations and aggressive long-term reduction targets. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 25%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 11% |
| Attractive yieldFCF Yield is 17% |
| Low stock price volatilityVol 12M is 41% |
| Megatrend and thematic driversMegatrends include US Energy Independence, Automation & Robotics, and Energy Transition & Decarbonization. Themes include US Oilfield Technologies, Show more. |
| Trading close to highsDist 52W High is -1.1%, Dist 3Y High is -1.1% |
| Weak multi-year price returns3Y Excs Rtn is -13% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 59% |
| Stock price has recently run up significantly12M Rtn12 month market price return is 108% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -5.5%, Rev Chg QQuarterly Revenue Change % is -3.1% |
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 63% |
| Key risksPDS key risks include [1] its substantial debt obligations and aggressive long-term reduction targets. |
Qualitative Assessment
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Precision Drilling (PDS) stock has gained about 50% since 11/30/2025 because of the following key factors:
1. Precision Drilling significantly exceeded Q4 2025 earnings per share (EPS) estimates and reported steady U.S. revenue growth. The company announced Q4 2025 EPS of $1.37, surpassing the consensus analyst estimate of $1.11 by 23.42%. Fourth-quarter revenue also saw a year-over-year increase to $479 million from $468 million, primarily driven by higher drilling activity in the United States.
2. The company demonstrated robust capital allocation strategies, including substantial debt reduction and share repurchases. Precision Drilling met its 2025 objectives by reducing debt by $101 million and repurchasing $76 million of shares, leading to a 6% reduction in its share count. Additionally, the company outlined aggressive 2026 plans to invest $245 million, further cut debt by $100 million, and allocate up to 50% of pre-debt free cash flow to share buybacks, signaling continued commitment to shareholder value.
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1. Precision Drilling significantly exceeded Q4 2025 earnings per share (EPS) estimates and reported steady U.S. revenue growth. The company announced Q4 2025 EPS of $1.37, surpassing the consensus analyst estimate of $1.11 by 23.42%. Fourth-quarter revenue also saw a year-over-year increase to $479 million from $468 million, primarily driven by higher drilling activity in the United States.
2. The company demonstrated robust capital allocation strategies, including substantial debt reduction and share repurchases. Precision Drilling met its 2025 objectives by reducing debt by $101 million and repurchasing $76 million of shares, leading to a 6% reduction in its share count. Additionally, the company outlined aggressive 2026 plans to invest $245 million, further cut debt by $100 million, and allocate up to 50% of pre-debt free cash flow to share buybacks, signaling continued commitment to shareholder value.
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Stock Movement Drivers
Fundamental Drivers
The 49.2% change in PDS stock from 11/30/2025 to 3/12/2026 was primarily driven by a 49.2% change in the company's P/E Multiple.| (LTM values as of) | 11302025 | 3122026 | Change |
|---|---|---|---|
| Stock Price ($) | 61.90 | 92.37 | 49.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,833 | 1,833 | 0.0% |
| Net Income Margin (%) | 3.2% | 3.2% | 0.0% |
| P/E Multiple | 13.9 | 20.7 | 49.2% |
| Shares Outstanding (Mil) | 13 | 13 | 0.0% |
| Cumulative Contribution | 49.2% |
Market Drivers
11/30/2025 to 3/12/2026| Return | Correlation | |
|---|---|---|
| PDS | 49.2% | |
| Market (SPY) | -2.5% | 32.0% |
| Sector (XLE) | 27.2% | 56.2% |
Fundamental Drivers
The 59.7% change in PDS stock from 8/31/2025 to 3/12/2026 was primarily driven by a 180.5% change in the company's P/E Multiple.| (LTM values as of) | 8312025 | 3122026 | Change |
|---|---|---|---|
| Stock Price ($) | 57.83 | 92.37 | 59.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,848 | 1,833 | -0.8% |
| Net Income Margin (%) | 5.7% | 3.2% | -43.4% |
| P/E Multiple | 7.4 | 20.7 | 180.5% |
| Shares Outstanding (Mil) | 13 | 13 | 1.4% |
| Cumulative Contribution | 59.7% |
Market Drivers
8/31/2025 to 3/12/2026| Return | Correlation | |
|---|---|---|
| PDS | 59.7% | |
| Market (SPY) | 3.5% | 37.4% |
| Sector (XLE) | 28.3% | 63.1% |
Fundamental Drivers
The 85.6% change in PDS stock from 2/28/2025 to 3/12/2026 was primarily driven by a 616.6% change in the company's P/E Multiple.| (LTM values as of) | 2282025 | 3122026 | Change |
|---|---|---|---|
| Stock Price ($) | 49.78 | 92.37 | 85.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,941 | 1,833 | -5.5% |
| Net Income Margin (%) | 12.5% | 3.2% | -74.4% |
| P/E Multiple | 2.9 | 20.7 | 616.6% |
| Shares Outstanding (Mil) | 14 | 13 | 7.0% |
| Cumulative Contribution | 85.6% |
Market Drivers
2/28/2025 to 3/12/2026| Return | Correlation | |
|---|---|---|
| PDS | 85.6% | |
| Market (SPY) | 13.1% | 61.5% |
| Sector (XLE) | 29.5% | 75.4% |
Fundamental Drivers
The 62.1% change in PDS stock from 2/28/2023 to 3/12/2026 was primarily driven by a 30.8% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 2282023 | 3122026 | Change |
|---|---|---|---|
| Stock Price ($) | 56.99 | 92.37 | 62.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,402 | 1,833 | 30.8% |
| P/S Multiple | 0.6 | 0.7 | 20.6% |
| Shares Outstanding (Mil) | 14 | 13 | 2.8% |
| Cumulative Contribution | 62.1% |
Market Drivers
2/28/2023 to 3/12/2026| Return | Correlation | |
|---|---|---|
| PDS | 62.1% | |
| Market (SPY) | 74.3% | 45.0% |
| Sector (XLE) | 50.8% | 70.2% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| PDS Return | 115% | 116% | -29% | 12% | 18% | 30% | 466% |
| Peers Return | 37% | 71% | -19% | -12% | -8% | 40% | 114% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | -1% | 80% |
Monthly Win Rates [3] | |||||||
| PDS Win Rate | 67% | 58% | 33% | 50% | 58% | 100% | |
| Peers Win Rate | 56% | 58% | 31% | 48% | 54% | 83% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 33% | |
Max Drawdowns [4] | |||||||
| PDS Max Drawdown | 0% | 0% | -45% | -4% | -38% | -2% | |
| Peers Max Drawdown | -3% | -8% | -33% | -22% | -44% | 0% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -2% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: NBR, PTEN, HP, ESI.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 3/12/2026 (YTD)
How Low Can It Go
| Event | PDS | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -50.8% | -25.4% |
| % Gain to Breakeven | 103.2% | 34.1% |
| Time to Breakeven | 982 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -82.3% | -33.9% |
| % Gain to Breakeven | 464.9% | 51.3% |
| Time to Breakeven | 435 days | 148 days |
| 2018 Correction | ||
| % Loss | -83.3% | -19.8% |
| % Gain to Breakeven | 500.0% | 24.7% |
| Time to Breakeven | Not Fully Recovered days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -92.8% | -56.8% |
| % Gain to Breakeven | 1280.4% | 131.3% |
| Time to Breakeven | Not Fully Recovered days | 1,480 days |
Compare to NBR, PTEN, HP, ESI
In The Past
Precision Drilling's stock fell -50.8% during the 2022 Inflation Shock from a high on 1/20/2023. A -50.8% loss requires a 103.2% gain to breakeven.
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About Precision Drilling (PDS)
Precision Drilling Corporation, a drilling company, provides onshore drilling, completion, and production services to exploration and production companies in the oil and natural gas and geothermal industries in North America and the Middle East. The company operates in two segments, Contract Drilling Services; and Completion and Production Services. The Contract Drilling Services segment offers onshore well drilling services to exploration and production companies in the oil and natural gas industry. This segment's services include land and turnkey drilling; and procurement and distribution of oilfield supplies, as well as manufacture and refurbishment of drilling and service rig equipment. As of December 31, 2021, it operated 227 land drilling rigs, including 109 in Canada; 105 in the United States; 6 in Kuwait; 4 in Saudi Arabia; 2 in the Kurdistan region of Iraq; and 1 in the country of Georgia. As of December 31, 2021, this segment also operated 47 AlphaTM rigs with commercial AlphaAutomation; 18 AlphaApps; 4 grid power capable rigs; and 60 natural gas or bi-fuel rigs. The Completion and Production Services segment provides service rigs for well completion, workover, abandonment, maintenance, and re-entry preparation services; wellsite accommodations; oilfield surface equipment rentals; and camp and catering services to oil and natural gas exploration and production companies. As of December 31, 2021, it operated 123 well completion and workover service rigs, including 113 in Canada and 10 in the United States; 1,900 oilfield rental items, including surface storage, small-flow wastewater treatment, power generation, and solids control equipment; 109 wellsite accommodation units; 943 drill camp beds; 822 base camp beds; and three kitchen diners in Canada. Precision Drilling Corporation was incorporated in 1951 and is headquartered in Calgary, Canada.
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Here are a few brief analogies for Precision Drilling:- Like Ryder System, but for operating specialized oil and gas drilling rigs.
- A specialized general contractor for oil and gas wells.
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- Contract Drilling Services: Providing land-based drilling rigs, equipment, and personnel to drill oil and natural gas wells for exploration and production companies.
- Drilling Technology & Optimization Services: Offering specialized technologies and software to improve drilling efficiency, well placement, and safety, often integrated with their drilling services.
- Rental Services: Supplying rental equipment for drilling, completion, and production operations, including power generation, solids control, and accommodation units.
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Precision Drilling (PDS) primarily provides contract drilling services and drilling rigs to other companies within the oil and natural gas industry. According to the company's 2022 annual report (10-K), no single customer accounted for more than 10% of its contract drilling services revenue, and its five largest customers collectively represented approximately 35% of this revenue. Due to this diversified customer base, Precision Drilling does not publicly disclose the names of its individual major customers.
However, Precision Drilling serves a broad range of oil and natural gas exploration and production (E&P) companies. These can generally be categorized as follows:
- Major Oil & Gas Companies (Integrated Majors or Supermajors): These are large, multinational energy companies involved in all aspects of the oil and gas value chain, from exploration and production to refining and marketing. Examples of such companies include:
- ExxonMobil (XOM)
- Chevron (CVX)
- Shell plc (SHEL)
- BP p.l.c. (BP)
- TotalEnergies SE (TTE)
- ConocoPhillips (COP)
- Large Independent Oil & Gas Companies: These companies typically focus primarily on upstream activities (exploration and production) and can have significant operations, often specializing in particular basins or types of resources. Examples of such companies in regions where Precision Drilling operates (e.g., North America) include:
- EOG Resources, Inc. (EOG)
- Pioneer Natural Resources Company (PXD)
- Occidental Petroleum Corporation (OXY)
- Marathon Oil Corporation (MRO)
- Cenovus Energy Inc. (CVE)
- Canadian Natural Resources Limited (CNQ)
- Smaller Independent Oil & Gas Companies: This diverse group includes numerous smaller public and privately held companies focused on exploration and production, often with more localized operations. Given their large number and varying sizes, specific examples are not comprehensively listed here.
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Carey T. Ford, President and Chief Executive OfficerCarey T. Ford was appointed President and Chief Executive Officer of Precision Drilling Corporation in October 2025 and also serves as a member of the Board of Directors. He joined Precision Drilling in 2011 and previously served as Chief Financial Officer from 2016 until his appointment as CEO. During his time as CFO, Mr. Ford guided the company's financial strategy, strengthened investor confidence, and led finance, capital markets, corporate development activities, and various operational support functions. Prior to joining Precision, he worked as an investment banker at Simmons & Company International, focusing on the oilfield service sector. He also served as a Financial Analyst at Arthur Andersen and an Associate at The Sterling Group, a private equity firm.
Dustin Honing, Chief Financial OfficerDustin Honing was named Chief Financial Officer in October 2025. He has been with Precision Drilling for nearly 15 years, advancing through various roles in accounting, finance, operational support, and investor relations. Most recently, he held the position of Vice President, Operations Finance.
Gene C. Stahl, Chief Operating OfficerGene C. Stahl was appointed Chief Operating Officer of Precision Drilling in October 2025. He brings nearly three decades of experience with the company, having held leadership roles across operations, engineering, manufacturing, marketing, and health and safety. Before becoming COO, Mr. Stahl served as President, North American Drilling from 2023 to 2025, overseeing Canadian and U.S. operations, and as Chief Marketing Officer from 2019 to 2023.
Shuja U. Goraya, Chief Technology OfficerShuja U. Goraya has served as Chief Technology Officer since joining Precision Drilling in July 2018. He possesses over 24 years of experience in the oil and gas industry, working in technology management and drilling operations roles with Schlumberger Ltd. across the United States, Canada, the Middle East, Africa, and Asia. Prior to his current role, Mr. Goraya was the Vice President of the North American Drilling Group.
Darren J. Ruhr, Chief Administrative OfficerDarren J. Ruhr has been the Chief Administrative Officer of Precision Drilling since 2018, having joined the company in 1997. Before his current appointment, he served as Senior Vice President, Corporate Services from 2005 to 2018. Mr. Ruhr also held the position of Corporate Secretary from 2005 to 2008.
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Key Risks to Precision Drilling (PDS)
Precision Drilling (PDS), a leading land drilling service provider, faces several key risks primarily tied to the cyclical nature of the energy industry and financial commitments. The most significant risks include:- Volatility in Commodity Prices and Customer Demand: Precision Drilling's business performance is highly sensitive to the fluctuating prices of oil and natural gas, which directly influence the exploration and development activities of its customers. Consequently, demand for contract drilling, well servicing, and ancillary oilfield services can be highly volatile. This market uncertainty has led Precision Drilling to trim its capital spending forecasts.
- Market Uncertainty and Customer Capital Discipline: Beyond commodity price fluctuations, the broader market uncertainty, coupled with the capital discipline exercised by oil and natural gas producers, poses a significant risk. Drilling activity has shown weakening trends due to factors like lower natural gas prices, oil price volatility, drilling and completion efficiencies, and consolidation among producers. This environment directly impacts the demand for Precision Drilling's services and its operational planning.
- Debt Obligations and Financial Commitments: Precision Drilling maintains substantial debt obligations and has set aggressive long-term debt reduction targets. While the company has been actively reducing debt and has plans for further reductions, these financial commitments are a key risk that could affect its financial flexibility and profitability. The company aims to achieve a sustained Net Debt to Adjusted EBITDA leverage ratio of below 1.0 times by the end of 2025.
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The accelerating global energy transition and decarbonization efforts pose a clear emerging threat to Precision Drilling. As nations, corporations, and consumers increasingly shift towards renewable energy sources and away from fossil fuels to combat climate change, the long-term demand for new oil and natural gas exploration and production is projected to decline. This systemic shift in energy consumption patterns directly impacts the demand for contract drilling services, threatening to shrink Precision Drilling's addressable market over time. This is analogous to how new technologies and business models, like streaming services, disrupted demand for traditional entertainment distribution (e.g., Blockbuster and cable companies), fundamentally altering the industries they served.
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Precision Drilling Corporation (PDS) primarily provides contract drilling and completion and production services to oil and natural gas exploration and production companies. Their main services include land drilling rigs, procurement and distribution of oilfield supplies, manufacturing and repair of drilling equipment, service rigs for well completion, workover, abandonment, maintenance, and re-entry preparation, as well as oilfield equipment rental, and camp and catering services. Precision Drilling operates in Canada, the United States, and certain international locations, including Kuwait, Saudi Arabia, Iraqi Kurdistan, and Georgia.
The addressable markets for Precision Drilling's main products and services can be broadly categorized within the larger Oilfield Services and Contract Drilling markets, with a particular focus on the onshore segments where the company primarily operates.
Addressable Markets:
- Global Oilfield Services Market:
- The global oilfield services market was estimated at USD 133.1 billion in 2023 and is projected to reach USD 166.4 billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 3.4% from 2024 to 2030.
- Another estimate values the global oilfield services market at USD 191.86 billion in 2024, expected to grow to USD 204.53 billion in 2025 with a CAGR of 6.6%.
- The onshore segment dominated the global oilfield services market in 2024, commanding approximately 60% of the total market share.
- North America Oilfield Services Market:
- The North American oilfield services market was estimated at USD 46.27 billion in 2024 and is anticipated to reach USD 61.03 billion by 2033, from USD 47.72 billion in 2025, growing at a CAGR of 3.12%.
- The North American market dominated the global oilfield services market with a revenue share of 31.95% in 2023.
- The U.S. oilfield services market dominated the North American market with a 75.07% share in 2023.
- The onshore segment dominated the North America oilfield services market share in 2024.
- Global Contract Drilling Market:
- The global contract drilling market size was valued at USD 12.53 billion in 2023 and is expected to grow to nearly USD 22.32 billion by 2030, with a CAGR of 8.6% from 2024 to 2030.
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Precision Drilling (PDS) is expected to experience future revenue growth over the next 2-3 years, driven by several key factors:
- Increased Drilling Activity and Enhanced Rig Utilization: Precision Drilling anticipates stable to increased rig counts, particularly in the Canadian winter drilling season and U.S. gas-weighted basins. This growth is supported by strong demand for the company's high-performance Super Series rigs and favorable market conditions in natural gas. The company noted full utilization on its Canadian Super Series rigs and increased year-over-year activity in international drilling, Canadian drilling, and well servicing in 2024, with optimism for future gas drilling activities in 2025.
- Adoption of Advanced Drilling Technologies and Customer-Funded Rig Upgrades: A significant driver is Precision Drilling's continued leadership in drilling technology and innovation, including its Alpha and Evergreen platforms and real-time monitoring systems, which enhance rig performance. The company has also strategically expanded its capital budget to support customer-funded rig upgrades, with $109 million allocated for upgrades and expansion in 2025 due to additional contract-backed upgrades. This focus on high-value technology and specialized upgrades is expected to command better day rates and service value.
- Growth in Well Servicing and Rental Services: The differentiated size and capabilities of Precision's well service fleet, which has expanded through consolidation, along with the performance of its Precision Rentals fleet, are contributing to year-over-year revenue growth. The company expects results from its Completion and Production Services (C&P) segment to improve with increased rates, activity, and rental performance.
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Share Repurchases
- Precision Drilling repurchased $54 million of common shares year-to-date as of the third quarter of 2025.
- For 2024, the company returned $75 million to shareholders through share repurchases.
- Precision has a Normal Course Issuer Bid (NCIB) authorized to repurchase up to 1,251,850 common shares, representing approximately 10% of its public float, from September 2025 through September 2026. The company targets share repurchases of 35-45% of free cash flow.
Share Issuance
- In October 2020, Precision Drilling completed a 20:1 share consolidation, which reduced the number of outstanding common shares from approximately 274.5 million to 13.7 million.
- The number of shares outstanding as of October 2025 was 13,401,000.
Outbound Investments
- As of Q3 2025, Precision Drilling noted that current market conditions and commodity price volatility have made acquisitions less attractive in the near term.
Capital Expenditures
- Precision Drilling's planned capital expenditures for 2025 were revised upwards to $260 million, from an initial $200 million and then $240 million. This budget includes $151 million for sustaining and infrastructure and $109 million for upgrades and expansion.
- Capital expenditures for the first nine months of 2025 totaled $182 million. The primary focus of these expenditures is on upgrading 27 drilling rigs, particularly Super Series rigs, backed by customer contracts to meet demand for high-spec rigs and drive revenue growth.
- In 2024, capital expenditures were $217 million, allocated with $52 million for expansion and upgrades and $165 million for the maintenance of existing assets, infrastructure, and intangible assets.
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Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 33.85 |
| Mkt Cap | 3.4 |
| Rev LTM | 3,185 |
| Op Inc LTM | 183 |
| FCF LTM | 209 |
| FCF 3Y Avg | 257 |
| CFO LTM | 567 |
| CFO 3Y Avg | 638 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 3.8% |
| Rev Chg 3Y Avg | 11.0% |
| Rev Chg Q | 8.3% |
| QoQ Delta Rev Chg LTM | 2.1% |
| Op Mgn LTM | 8.3% |
| Op Mgn 3Y Avg | 11.7% |
| QoQ Delta Op Mgn LTM | -0.5% |
| CFO/Rev LTM | 19.9% |
| CFO/Rev 3Y Avg | 22.0% |
| FCF/Rev LTM | 7.7% |
| FCF/Rev 3Y Avg | 8.8% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 3.4 |
| P/S | 0.8 |
| P/EBIT | 1.4 |
| P/E | 3.7 |
| P/CFO | 3.9 |
| Total Yield | 3.7% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 7.8% |
| D/E | 0.6 |
| Net D/E | 0.5 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 5.9% |
| 3M Rtn | 31.4% |
| 6M Rtn | 64.7% |
| 12M Rtn | 39.9% |
| 3Y Rtn | 3.9% |
| 1M Excs Rtn | 8.3% |
| 3M Excs Rtn | 33.5% |
| 6M Excs Rtn | 61.3% |
| 12M Excs Rtn | 18.2% |
| 3Y Excs Rtn | -81.4% |
Segment Financials
Revenue by Segment| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Contract Drilling Services | 1,704 | 1,436 | 878 | 861 | 1,399 |
| Completion and Production Services | 241 | 187 | 113 | 77 | 148 |
| Corporate and Other | 0 | 0 | |||
| Inter-Segment Eliminations | -7 | -6 | -5 | -3 | -6 |
| Total | 1,938 | 1,617 | 987 | 936 | 1,541 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Contract Drilling Services | 352 | 142 | -25 | 22 | 161 |
| Completion and Production Services | 37 | 24 | 8 | -4 | 10 |
| Inter-Segment Eliminations | 0 | 0 | 0 | ||
| Corporate and Other | -85 | -134 | -73 | -60 | -76 |
| Total | 304 | 33 | -90 | -41 | 95 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Contract Drilling Services | 2,565 | 2,575 | 2,392 | 2,571 | 2,963 |
| Completion and Production Services | 272 | 179 | 127 | 133 | 153 |
| Corporate and Other | 182 | 122 | 142 | 195 | 154 |
| Inter-Segment Eliminations | 0 | 0 | |||
| Total | 3,019 | 2,876 | 2,662 | 2,899 | 3,270 |
Price Behavior
Price Behavior
| Market Price | $92.37 | |
| Market Cap ($ Bil) | 1.2 | |
| First Trading Date | 11/15/1996 | |
| Distance from 52W High | -1.1% | |
| 50 Days | 200 Days | |
| DMA Price | $81.88 | $62.56 |
| DMA Trend | up | up |
| Distance from DMA | 12.8% | 47.7% |
| 3M | 1YR | |
| Volatility | 33.7% | 40.7% |
| Downside Capture | -26.82 | 35.67 |
| Upside Capture | 144.05 | 104.17 |
| Correlation (SPY) | 28.8% | 61.0% |
PDS Betas & Captures as of 2/28/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.60 | 1.04 | 1.00 | 1.04 | 1.33 | 1.19 |
| Up Beta | 1.09 | 1.16 | 0.85 | 1.26 | 1.42 | 1.30 |
| Down Beta | 4.29 | 2.31 | 1.99 | 2.08 | 1.96 | 1.71 |
| Up Capture | 182% | 135% | 178% | 108% | 100% | 60% |
| Bmk +ve Days | 9 | 20 | 31 | 70 | 142 | 431 |
| Stock +ve Days | 11 | 21 | 34 | 70 | 135 | 377 |
| Down Capture | 10% | -60% | -58% | -3% | 64% | 95% |
| Bmk -ve Days | 12 | 21 | 30 | 54 | 109 | 320 |
| Stock -ve Days | 10 | 20 | 27 | 53 | 114 | 372 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PDS | |
|---|---|---|---|---|
| PDS | 116.1% | 40.7% | 2.00 | - |
| Sector ETF (XLE) | 35.0% | 24.9% | 1.16 | 76.2% |
| Equity (SPY) | 21.0% | 18.9% | 0.87 | 60.9% |
| Gold (GLD) | 74.9% | 26.2% | 2.12 | 11.6% |
| Commodities (DBC) | 19.3% | 17.2% | 0.89 | 63.9% |
| Real Estate (VNQ) | 5.7% | 16.3% | 0.16 | 43.8% |
| Bitcoin (BTCUSD) | -16.1% | 44.2% | -0.27 | 26.9% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PDS | |
|---|---|---|---|---|
| PDS | 29.9% | 49.4% | 0.71 | - |
| Sector ETF (XLE) | 21.1% | 26.2% | 0.73 | 70.9% |
| Equity (SPY) | 13.2% | 17.0% | 0.61 | 38.1% |
| Gold (GLD) | 24.2% | 17.3% | 1.14 | 16.4% |
| Commodities (DBC) | 10.9% | 19.0% | 0.46 | 53.9% |
| Real Estate (VNQ) | 5.0% | 18.8% | 0.17 | 26.1% |
| Bitcoin (BTCUSD) | 7.3% | 56.8% | 0.35 | 17.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PDS | |
|---|---|---|---|---|
| PDS | 1.4% | 59.9% | 0.28 | - |
| Sector ETF (XLE) | 11.0% | 29.5% | 0.41 | 68.2% |
| Equity (SPY) | 14.7% | 17.9% | 0.70 | 41.5% |
| Gold (GLD) | 14.6% | 15.6% | 0.77 | 8.3% |
| Commodities (DBC) | 8.8% | 17.6% | 0.41 | 54.2% |
| Real Estate (VNQ) | 5.5% | 20.7% | 0.23 | 28.5% |
| Bitcoin (BTCUSD) | 66.7% | 66.8% | 1.06 | 12.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2025 | 10/23/2025 | 6-K |
| 06/30/2025 | 07/30/2025 | 6-K |
| 03/31/2025 | 04/24/2025 | 6-K |
| 12/31/2024 | 03/10/2025 | 40-F |
| 09/30/2024 | 10/29/2024 | 6-K |
| 06/30/2024 | 08/01/2024 | 6-K |
| 03/31/2024 | 04/25/2024 | 6-K |
| 12/31/2023 | 03/04/2024 | 40-F |
| 09/30/2023 | 10/27/2023 | 6-K |
| 06/30/2023 | 07/28/2023 | 6-K |
| 03/31/2023 | 04/27/2023 | 6-K |
| 12/31/2022 | 03/06/2023 | 40-F |
| 09/30/2022 | 10/28/2022 | 6-K |
| 06/30/2022 | 07/29/2022 | 6-K |
| 03/31/2022 | 04/29/2022 | 6-K |
| 12/31/2021 | 03/07/2022 | 40-F |
Industry Resources
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.