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Independence Contract Drilling Income Statement 2023-2011 | ICD
Brief overview of financial results at Independence Contract Drilling
The comparison covers a five-year financial horizon. The revenue attributed to Independence Contract Drilling moved from 124 million dollars to 210 million dollars between the two endpoints. Across the full period, sales moved by +69.4%; the average annual rate was 11.1%. The trajectory reflects meaningful expansion of the business.
The operating result measured by EBITDA moved from 18.6 million dollars to 39.8 million dollars, or +114.7%. Additional revenue translated efficiently into EBITDA. The EBITDA share of revenue changed from 15% to 19%. A wider margin confirms stronger operating efficiency.
Across the five years, the net result shifted from −20 million dollars to −37.7 million dollars. Larger losses indicate rising pressure on the business.
The market value of the business moved from $163 million to $25.1 million, or −84.6%. The negative valuation trend points to increased investor caution.
Financial takeaway
Positive developments coexist with areas of weakness. The financial profile benefits from sales growth and positive operating leverage. The weaker side of the profile includes declining net profitability and a weaker market valuation. The next reporting periods will show whether revenue, margins, and final profitability can strengthen.
Annual Income Statement Independence Contract Drilling
| 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap |
25.1 M | 55.2 M | 24.9 M | 18.1 M | 53 M | 163 M | 3.47 B | 4.2 B | 1.94 B | 1.65 B | - | - | - |
Shares |
14 M | 13 M | 7.51 M | 4.91 M | 3.77 M | 2.38 M | 37.8 M | 33.1 M | 23.9 M | 17.1 M | 12.2 M | 10.1 M | - |
Historical Prices |
1.79 | 4.24 | 3.32 | 3.68 | 14 | 68.4 | 92 | 127 | 81 | 96.6 | - | - | - |
Net Income |
-37.7 M | -65.3 M | -66.7 M | -96.6 M | -60.8 M | -20 M | -24.3 M | -22.2 M | -7.88 M | -28.2 M | -2 M | -4.95 M | - |
Revenue |
210 M | 187 M | 88 M | 83.4 M | 45.3 M | 124 M | 25 M | 18 M | 88.4 M | 70.3 M | 42.8 M | 15.1 M | - |
Gross Profit |
- | - | - | -25.9 M | 13.3 M | 16.5 M | -3.57 M | 2.98 M | 15.2 M | 11.5 M | 4.2 M | -6.18 M | - |
Operating Income |
-3.72 M | -2.1 M | -43.1 M | -82.2 M | -46.5 M | -12.3 M | -21 M | -18.9 M | -4.95 M | -33.1 M | -4.66 M | -14 M | - |
Interest Expense |
-585 K | - | -150 K | - | -377 K | - | - | -3.04 M | -3.25 M | -1.65 M | -257 K | -10 K | - |
EBITDA |
39.8 M | 38.3 M | -4.2 M | -38.2 M | -1.13 M | 18.6 M | 4.82 M | 4.88 M | 16.2 M | -16.9 M | 5.53 M | -8.09 M | - |
Operating Expenses |
- | - | - | 13.5 M | 16.1 M | 15.9 M | 13.2 M | 16.1 M | 14.5 M | 12.2 M | 8.91 M | 7.81 M | - |
General and Administrative Expenses |
24.5 M | 24.8 M | 15.7 M | 13.5 M | 16.1 M | 15.9 M | 13.2 M | 16.1 M | 14.5 M | 12.2 M | 8.91 M | 7.81 M | - |
All numbers in USD currency
Quarterly Income Statement Independence Contract Drilling
| 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Shares |
14.5 M | 14.5 M | 14.5 M | 14.4 M | 14.1 M | 14 M | 13.9 M | 13.6 M | 13.6 M | 13.6 M | 11.3 M | 10.2 M | 7.32 M | 6.71 M | 6.22 M | 6.18 M | 5.7 M | 4.02 M | 3.75 M | 3.81 M | 75.4 M | 75.7 M | 75.7 M | 77.1 M | 38.3 M | 38.3 M | 38.1 M | 38 M | 37.8 M | 37.7 M | 37.5 M | 37.6 M | 37.4 M | 33.6 M | 24 M | 24.4 M | 23.9 M | 23.9 M | 24.6 M | 24.5 M | 19.2 M | 12.3 M | 12.3 M | 12.4 M | 12.2 M | 12.2 M | - | - | - | - | - | - | - | - | - |
Net Income |
-18.5 M | -16.7 M | -8.99 M | - | -7.6 M | -4.16 M | 12 K | - | -7.19 M | -2.79 M | -58.8 M | - | -4.3 M | -14.9 M | -16 M | -43.1 M | -15.2 M | -10.1 M | -28.2 M | -35 M | -10.5 M | -12.9 M | -2.37 M | -23.8 M | -3.94 M | -3.31 M | -4.15 M | -5.74 M | -5.98 M | -6.3 M | -6.27 M | -10.4 M | -7.2 M | -4.19 M | -414 K | -5.23 M | -3.38 M | -652 K | 1.38 M | -24.6 M | -1.41 M | 1.56 M | -3.7 M | -208 K | 576 K | -669 K | -1.7 M | - | - | - | - | - | - | - | - |
Revenue |
38 M | 43.3 M | 46.6 M | - | 44.2 M | 56.4 M | 63.8 M | - | 49.1 M | 42.3 M | 35 M | - | 24 M | 19.8 M | 15.5 M | 13.3 M | 10.2 M | 21.4 M | 38.5 M | 45.3 M | 45.1 M | 52.9 M | 60.4 M | 124 M | 28.4 M | 25.8 M | 25.6 M | 25 M | 23.4 M | 21.3 M | 20.2 M | 18 M | 14.5 M | 15.2 M | 22.5 M | 23.7 M | 21.3 M | 21.1 M | 22.3 M | 23 M | 19.1 M | 14.7 M | 13.5 M | 13.1 M | 11.6 M | 9.78 M | 8.26 M | - | - | - | - | - | - | - | - |
Operating Income |
-8.93 M | -7.68 M | 661 K | - | 780 K | 3.89 M | 8.73 M | - | 208 K | -717 K | -6.64 M | - | -10.6 M | -11.1 M | -12.3 M | -39.3 M | -11.7 M | -6.48 M | -24.7 M | -32.2 M | -6.63 M | -6.11 M | -1.15 M | -11.4 M | -2.82 M | -2.4 M | -3.25 M | -4.67 M | -5.18 M | -5.58 M | -5.59 M | -9.69 M | -6.71 M | -3.1 M | 567 K | -3.8 M | -2.84 M | 160 K | 1.53 M | -28.6 M | -672 K | 1.44 M | -5.2 M | -1.2 M | -241 K | -1.36 M | -1.86 M | - | - | - | - | - | - | - | - |
Interest Expense |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | -3.71 M | - | - | - | -3.6 M | - | -122 K | -255 K | -3.76 M | - | -1.17 M | -938 K | -943 K | - | -772 K | -686 K | -630 K | - | -456 K | -1.06 M | -977 K | - | -862 K | -717 K | -312 K | - | -482 K | -598 K | -394 K | - | -23 K | -97 K | - | - | - | - | - | - | - | - | - |
EBITDA |
28.5 M | 16.7 M | 12.5 M | - | 33.3 M | 26.2 M | 19.6 M | - | 29.9 M | 18.9 M | 3.11 M | - | 18.6 M | 8.41 M | -2.29 M | -39.3 M | 21.7 M | 16.1 M | -13.1 M | -32.2 M | 27.2 M | 16.6 M | 10.2 M | -11.4 M | 17.2 M | 10.8 M | 3.34 M | -4.67 M | 13.9 M | 7.01 M | 663 K | -9.69 M | 10.9 M | 8.54 M | 6.39 M | -3.8 M | 12.3 M | 9.62 M | 5.82 M | -28.6 M | 10.9 M | 8.76 M | -1.78 M | -1.2 M | 6.76 M | 3.13 M | -1.86 M | - | - | - | - | - | - | - | - |
General and Administrative Expenses |
3.57 M | 3.73 M | 4.34 M | - | 6.86 M | 5.22 M | 6.73 M | - | 7.01 M | 4.86 M | 5.23 M | - | 4.07 M | 4.08 M | 3.69 M | - | 2.8 M | 3.54 M | 3.76 M | - | 3.76 M | 3.01 M | 4.54 M | - | 3.9 M | 3.94 M | 3.48 M | - | 2.95 M | 3.44 M | 3.72 M | - | 3.24 M | 5 M | 3.62 M | - | 3.76 M | 3.76 M | 3.83 M | - | 3.62 M | 2.07 M | 2.09 M | - | 2.1 M | 1.99 M | - | - | - | - | - | - | - | - | - |
All numbers in USD currency
The income statement is one of the three key financial reports of a company Independence Contract Drilling (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:
- How much revenue the company earned
- How much it spent on production, personnel, marketing, taxes, etc.
- What profit remained in the end
Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.
Features- The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
- Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
- A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.
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