Xtreme Drilling & Coil Services Corp revenue decline accelerated to 81.0% in FY2016 vs. 17.2% a year earliner
09.03.2017 • About Xtreme Drilling & Coil Services Corp (
$XDC) • By InTwits
Xtreme Drilling & Coil Services Corp reported FY2016 financial results today. Overall the company's long term financial model is characterised by the following facts:
- Xtreme Drilling & Coil Services Corp is a company in decline: FY2016 revenue growth was -81.0%, 5 years revenue CAGR was -16.6%
- EBITDA Margin is declining: in FY2016 vs. 25.9% in FY2015 vs. 22.3% in FY2012
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Xtreme Drilling & Coil Services Corp ($XDC) key annual financial indicators
| mln. CAD | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 179.4 | 229.8 | 267.4 | 221.4 | 42.0 | -81.0% |
| Gross Profit | 24.3 | 33.8 | 37.1 | 80.1 | | -100.0% |
| SG&A | | | | 19.0 | | -100.0% |
| EBITDA | 40.1 | 72.3 | 73.9 | 57.4 | | -100.0% |
| Net Income | -0.2 | -0.3 | 0.6 | -68.3 | -20.8 | |
Balance Sheet
|
|---|
| Cash | 5.9 | 12.2 | 13.1 | 11.2 | | -100.0% |
| Short Term Debt | 22.0 | 0.7 | 0.0 | 107.3 | | -100.0% |
| Long Term Debt | 125.7 | 128.4 | 128.6 | 0.0 | | |
Cash flow
|
|---|
| Capex | 112.4 | 23.1 | 65.3 | 20.0 | | -100.0% |
Ratios
|
|---|
| Revenue growth | 72.5% | 28.1% | 16.4% | -17.2% | -81.0% | |
| EBITDA growth | 125.3% | 80.5% | 2.2% | -22.4% | | |
| Gross Margin | 13.5% | 14.7% | 13.9% | 36.2% | | -36.2% |
| EBITDA Margin | 22.3% | 31.5% | 27.6% | 25.9% | 0.0% | -25.9% |
| Net Income Margin | -0.1% | -0.1% | 0.2% | -30.9% | -49.6% | -18.7% |
| SG&A, % of revenue | | | | 8.6% | | -8.6% |
| CAPEX, % of revenue | 62.6% | 10.0% | 24.4% | 9.0% | | -9.0% |
| ROIC | 3.0% | 4.6% | 3.7% | -8.4% | | 8.4% |
| ROE | -0.1% | -0.1% | 0.2% | -18.3% | | 18.3% |
| Net Debt/EBITDA | 3.5x | 1.6x | 1.6x | 1.7x | | -1.7x |
Xtreme Drilling & Coil Services Corp ($XDC) key quoterly financial indicators
| mln. CAD | FY16Q1 | FY16Q2 | FY16Q3 | FY16Q4 | YoY change |
|---|
P&L
|
|---|
| Revenue | 16 | 7 | 8 | 10 | -63.5% | -86.3% | -71.5% | -57.5% |
| EBITDA | 0 | -12 | -3 | 11 | -96.5% | -182.9% | -218.8% | -69.8% |
| Net Income | -4 | 27 | -31 | -14 | -235.5% | | | |
Balance Sheet
|
|---|
| Cash | 6 | 122 | 120 | 115 | -45.8% | 703.1% | 620.9% | 926.8% |
| Short Term Debt | 0 | 0 | 0 | 0 | | | | -100.0% |
| Long Term Debt | 96 | 0 | 0 | 0 | -30.2% | -100.0% | -100.0% | |
Ratios
|
|---|
| Gross Margin | 33.9% | 2.2% | 12.0% | 11.6% | -3.0% | -35.7% | -24.6% | -16.1% |
| EBITDA Margin | 2.5% | -162.9% | -35.4% | 112.5% | -24.0% | -189.9% | -43.9% | -46.0% |
| Net Income Margin | -23.0% | 368.6% | -361.4% | -137.6% | -29.1% | 370.0% | -198.1% | -44.7% |
Revenue and profitability
Xtreme Drilling & Coil Services Corp's Revenue dropped on 81.0%. Annual revenue decline showed slowdown in FY16Q4 - revenue dropped on 57.5%.
Net Income marign dropped on 18.7 pp from -30.9% to -49.6% in FY2016.
Appendix 1: Peers in Energy
Below you can find Xtreme Drilling & Coil Services Corp benchmarking vs. other companies in Energy industry. It's shown for the period of 5 years for the key financial metrics. Each table has median value for all the companies in the industry together with individual financial data of the top-5 companies in the industry by particular financial metric.
Top companies by Revenue growth, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Oryx Petroleum Corp Ltd ($OXC) | | | | -18.4% | 141.2% |
| Seven Generations Energy Ltd ($VII) | | 115.7% | 340.2% | 39.0% | 94.4% |
| Athabasca Oil Corp ($ATH) | | 342.7% | 5.5% | -22.9% | 73.1% |
| Painted Pony Petroleum Ltd ($PPY) | | 41.3% | 56.0% | -42.5% | 60.7% |
| ONEnergy Inc ($OEG) | | | 6,002.6% | 231.5% | 57.4% |
| |
|---|
| Median (116 companies) | | 15.4% | 17.0% | -29.5% | -18.0% |
|---|
| Xtreme Drilling & Coil Services Corp ($XDC) | | 28.1% | 16.4% | -17.2% | -81.0% |
Top companies by Gross margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Americas Petrogas Inc ($BOE) | 77.1% | 43.3% | -34.3% | 121.1% | |
| TransAlta Renewables Inc ($RNW) | | 94.4% | 94.5% | 94.5% | 91.1% |
| Serinus Energy Inc ($SEN) | 80.5% | 76.5% | 86.8% | 88.5% | |
| Advantage Oil & Gas Ltd ($AAV) | 62.0% | 84.5% | 92.5% | 88.5% | 90.3% |
| Polaris Infrastructure Inc ($PIF) | 39.9% | 33.6% | 32.0% | 86.7% | 88.6% |
| |
|---|
| Median (114 companies) | 32.0% | 32.2% | 32.4% | 33.6% | 32.0% |
|---|
| Xtreme Drilling & Coil Services Corp ($XDC) | 13.5% | 14.7% | 13.9% | 36.2% | |
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Granite Oil Corp ($GXO) | 59.4% | 64.5% | 70.8% | 201.9% | |
| Perpetual Energy Inc ($PMT) | 35.5% | 70.7% | 58.0% | 110.3% | |
| Petro Rio SA ($PRJ) | -4,809.7% | -6,899.7% | 28.2% | 90.7% | |
| Peyto Exploration & Development Corp ($PEY) | 86.1% | 83.2% | 86.3% | 84.6% | 80.7% |
| Innergex Renewable Energy Inc ($INE) | 111.8% | 110.0% | 82.9% | 83.4% | 83.5% |
| |
|---|
| Median (128 companies) | 25.9% | 35.7% | 28.9% | 8.1% | 28.2% |
|---|
| Xtreme Drilling & Coil Services Corp ($XDC) | 22.3% | 31.5% | 27.6% | 25.9% | |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Oryx Petroleum Corp Ltd ($OXC) | | | 1,997.8% | 712.8% | |
| WesternZagros Resources Ltd ($WZR) | | | | 385.6% | |
| Athabasca Oil Corp ($ATH) | 2,426.4% | 596.6% | 504.7% | 315.2% | 83.7% |
| TORC Oil & Gas Ltd ($TOG) | 453.8% | 466.9% | 104.5% | 229.4% | 76.3% |
| Seven Generations Energy Ltd ($VII) | 452.8% | 513.1% | 227.4% | 191.2% | 73.5% |
| |
|---|
| Median (129 companies) | 42.3% | 39.2% | 45.6% | 28.1% | 23.0% |
|---|
| Xtreme Drilling & Coil Services Corp ($XDC) | 62.6% | 10.0% | 24.4% | 9.0% | |
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Enerplus Corp ($ERF) | -17.3% | 10.2% | 11.5% | -55.5% | 16.3% |
| Whitecap Resources Inc ($WCP) | 7.1% | 8.1% | 9.6% | -10.6% | 10.1% |
| Ecopetrol SA ($ECP) | 29.3% | 24.4% | 16.5% | 3.0% | 9.6% |
| Parkland Fuel Corp ($PKI) | 22.3% | 23.3% | 9.9% | 7.8% | 8.6% |
| Inter Pipeline Ltd ($IPL) | 9.5% | 8.0% | 7.5% | 9.6% | 8.5% |
| |
|---|
| Median (128 companies) | 3.9% | 5.8% | 5.7% | -8.3% | -1.9% |
|---|
| Xtreme Drilling & Coil Services Corp ($XDC) | 3.0% | 4.6% | 3.7% | -8.4% | |
Top companies by Net Debt / EBITDA
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| BlackPearl Resources Inc ($PXX) | -0.2x | -0.1x | 0.2x | 3,726.1x | -0.2x |
| Paramount Resources Ltd ($POU) | 14.6x | 23.9x | 8.9x | 421.5x | -5.8x |
| Precision Drilling Corp ($PD) | 2.2x | 1.9x | 2.0x | 68.4x | 7.6x |
| Trican Well Service Ltd ($TCW) | 2.5x | 3.4x | 2.9x | 31.4x | |
| Trilogy Energy Corp ($TET) | 2.6x | 1.8x | 2.3x | 25.5x | 7.3x |
| |
|---|
| Median (78 companies) | 1.5x | 1.4x | 1.4x | 2.7x | 2.7x |
|---|
| Xtreme Drilling & Coil Services Corp ($XDC) | 3.5x | 1.6x | 1.6x | 1.7x | |
