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Income Statement ADNOC Drilling Company

Equities

ADNOCDRILL

AEA007301012

Oil & Gas Drilling

Market Closed - Abu Dhabi Securities Exchange Other stock markets 10:59:09 11/02/2025 GMT			5-day change	1st Jan Change
5.950 ^AED	+1.54%		+7.99%	+11.63%

02-10	UAE Property Stocks Rally Trumps Trade War Talks as Main Indices Jump	MT
01-09	EU Clears Adnoc Drilling, Alpha Dhabi Holding's Joint Ownership of Deep Well Services	MT

cac045ead24b959b29cfb0.NVsSobuCUsuOaeG_qSlIw1BuzlKdtL3VVRKS6hndE0o.VjFl7tLtK-bcGJLZ5F84gB0h9wDf7OyCBH7X3WCsWB9_IyPv9dAipucm0Q

Published financial data: ADNOC DRILLING COMPANY

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	7.57B	2.1B	2.27B	2.67B	3.06B
Total Revenues	7.57B	2.1B	2.27B	2.67B	3.06B
Cost of Goods Sold, Total	4.64B	1.29B	1.39B	1.57B	1.85B
Gross Profit	2.93B	806M	884M	1.1B	1.21B
Selling General & Admin Expenses, Total	693M	206M	239M	259M	105M
Depreciation & Amortization - (IS)	21.05M	9.51M	24.48M	14.24M	17.93M
Amortization of Goodwill and Intangible Assets - (IS)	-	-	-	2.31M	3.55M
Other Operating Expenses	-110M	-	-	-	-
Other Operating Expenses, Total	604M	215M	263M	276M	126M
Operating Income	2.32B	591M	621M	827M	1.08B
Interest Expense, Total	-196M	-25.35M	-17.7M	-34.88M	-74.58M
Interest And Investment Income	14.03M	872K	728K	6.27M	15.73M
Net Interest Expenses	-182M	-24.47M	-16.97M	-28.61M	-58.85M
Other Non Operating Income (Expenses)	-	2.9M	10.14M	6.17M	9.85M
EBT, Excl. Unusual Items	2.14B	569M	614M	805M	1.03B
Asset Writedown	-	-	-10.32M	-2.95M	-
EBT, Incl. Unusual Items	2.14B	569M	604M	802M	1.03B
Earnings From Continuing Operations	2.14B	569M	604M	802M	1.03B
Net Income to Company	2.14B	569M	604M	802M	1.03B
Net Income - (IS)	2.14B	569M	604M	802M	1.03B
Net Income to Common Incl Extra Items	2.14B	569M	604M	802M	1.03B
Net Income to Common Excl. Extra Items	2.14B	569M	604M	802M	1.03B
Per Share Items
Net EPS - Basic	0.13	0.04	0.04	0.05	0.06
Basic EPS - Continuing Operations	0.13	0.04	0.04	0.05	0.06
Basic Weighted Average Shares Outstanding	16B	16B	16B	16B	16B
Net EPS - Diluted	0.13	0.04	0.04	0.05	0.06
Diluted EPS - Continuing Operations	0.13	0.04	0.04	0.05	0.06
Diluted Weighted Average Shares Outstanding	16B	16B	16B	16B	16B
Normalized Basic EPS	0.08	0.02	0.02	0.03	0.04
Normalized Diluted EPS	0.08	0.02	0.02	0.03	0.04
Dividend Per Share	-	-	0.02	0.04	0.04
Payout Ratio	8.83	123.02	175.57	83.09	67.73
Supplemental Items
EBITDA	3.7B	948M	1.01B	1.22B	1.45B
EBITA	2.32B	591M	621M	830M	1.09B
EBIT	2.32B	591M	621M	827M	1.08B
EBITDAR	-	-	1.09B	1.33B	1.62B
Normalized Net Income	1.34B	356M	384M	503M	645M
Interest Capitalized	-	-	-	9.63M	34.3M
Interest on Long-Term Debt	-	25.35M	17.7M	44.51M	105M
Non-Cash Pension Expense	55.53M	10.15M	33.18M	18.37M	130K
Supplemental Operating Expense Items
General and Administrative Expenses	231M	27.3M	39.64M	37.87M	29.58M
Net Rental Expense, Total	-	-	80M	114M	163M
Imputed Operating Lease Interest Expense	-	-	7.36M	26.39M	76.17M
Imputed Operating Lease Depreciation	-	-	72.64M	87.72M	86.53M
Maintenance & Repair Expenses, Total	-	329M	234M	271M	288M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	491M	953M	453M	326M	354M
Total Cash And Short Term Investments	491M	953M	453M	326M	354M
Accounts Receivable, Total	2.67B	933M	1.01B	990M	1.01B
Other Receivables	3.58B	36.24M	13.57M	9.24M	50.78M
Total Receivables	6.25B	969M	1.02B	999M	1.06B
Inventory	456M	177M	175M	153M	206M
Prepaid Expenses	8.14M	5.31M	5.66M	8.13M	21.36M
Other Current Assets, Total	175M	67.71M	36.28M	37.2M	73.88M
Total Current Assets	7.38B	2.17B	1.69B	1.52B	1.71B
Gross Property Plant And Equipment	21.38B	6.21B	6.71B	7.6B	8.86B
Accumulated Depreciation	-9.41B	-2.91B	-3.31B	-3.7B	-3.99B
Net Property Plant And Equipment	11.97B	3.3B	3.4B	3.9B	4.86B
Other Intangibles, Total	-	-	-	8.98M	5.43M
Other Long-Term Assets, Total	561M	4.66M	7.63M	60.45M	160M
Total Assets	19.91B	5.48B	5.1B	5.49B	6.74B
Liabilities
Accounts Payable, Total	284M	252M	133M	480M	933M
Accrued Expenses, Total	1.28B	341M	194M	12.3M	9.09M
Short-term Borrowings	-	-	-	1.5B	-
Current Portion of Leases	12.38M	11.72M	20.32M	19.14M	36.83M
Other Current Liabilities	27.49M	6.45M	322M	391M	166M
Total Current Liabilities	1.6B	611M	669M	2.4B	1.14B
Long-Term Debt	5.51B	1.5B	1.5B	-	1.99B
Long-Term Leases	58.74M	28.39M	19.03M	20.61M	152M
Pension & Other Post Retirement Benefits	321M	86.46M	113M	111M	105M
Other Non Current Liabilities	-	-	-	28.1M	80.94M
Total Liabilities	7.49B	2.23B	2.3B	2.56B	3.48B
Common Stock, Total	400M	109M	436M	436M	436M
Retained Earnings	12.02B	3.14B	2.36B	2.5B	2.83B
Total Common Equity	12.42B	3.25B	2.8B	2.93B	3.26B
Total Equity	12.42B	3.25B	2.8B	2.93B	3.26B
Total Liabilities And Equity	19.91B	5.48B	5.1B	5.49B	6.74B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	16B	16B	16B	16B	16B
ECS Total Common Shares Outstanding	16B	16B	16B	16B	16B
Book Value / Share	0.78	0.2	0.17	0.18	0.2
Tangible Book Value	12.42B	3.25B	2.8B	2.92B	3.26B
Tangible Book Value Per Share	0.78	0.2	0.17	0.18	0.2
Total Debt	5.58B	1.54B	1.54B	1.54B	2.18B
Net Debt	5.09B	587M	1.09B	1.21B	1.83B
Debt Equivalent Oper. Leases	-	-	640M	913M	1.3B
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Others	538M	197M	200M	179M	233M
Buildings, Total	327M	88.45M	88.46M	83.69M	97.03M
Machinery, Total	19.45B	5.78B	6.2B	6.84B	7.95B
Accumulated Allowance for Doubtful Accounts (Supple)	-	-	-	-	19M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	2.14B	569M	604M	802M	1.03B
Depreciation & Amortization - CF	1.4B	366M	416M	402M	388M
Amortization of Goodwill and Intangible Assets - (CF)	-	-	-	2.31M	3.55M
Depreciation & Amortization, Total	1.4B	366M	416M	405M	391M
(Gain) Loss From Sale Of Asset	3.69M	616K	-	-	-
Asset Writedown & Restructuring Costs	-	-	10.32M	2.95M	2.02M
Provision and Write-off of Bad Debts	-	-	-	9M	10M
Other Operating Activities, Total	219M	63.22M	48.65M	39.53M	51M
Change In Accounts Receivable	-110M	-76.16M	36.84M	-12.97M	-38.52M
Change In Inventories	-147M	-50.93M	-2.75M	20.76M	-53.85M
Change In Accounts Payable	346M	22.99M	-20.67M	100M	241M
Change in Other Net Operating Assets	-3.79B	894M	86.58M	158M	-280M
Cash from Operations	68.86M	1.79B	1.18B	1.52B	1.36B
Capital Expenditure	-123M	-147M	-583M	-938M	-1.06B
Sale (Purchase) of Intangible assets	-	-	-	-4.15M	-
Other Investing Activities, Total	-247M	-85.27M	728K	6.27M	13.23M
Cash from Investing	-369M	-232M	-582M	-936M	-1.05B
Long-Term Debt Issued, Total	-	-	-	-	492M
Total Debt Issued	-	-	-	-	492M
Short Term Debt Repaid, Total	-	-	-	-	-
Long-Term Debt Repaid, Total	-15.04M	-11.79M	-19.62M	-14.92M	-10.13M
Total Debt Repaid	-15.04M	-11.79M	-19.62M	-14.92M	-10.13M
Common Dividends Paid	-189M	-700M	-1.06B	-666M	-700M
Common & Preferred Stock Dividends Paid	-189M	-700M	-1.06B	-666M	-700M
Other Financing Activities, Total	-196M	-25.35M	-17.56M	-34.36M	-59.98M
Cash from Financing	-400M	-737M	-1.1B	-716M	-277M
Net Change in Cash	-701M	820M	-500M	-128M	28.61M
Supplemental Items
Cash Interest Paid	196M	25.35M	17.56M	34.36M	59.98M
Levered Free Cash Flow	-731M	1.4B	241M	233M	23.68M
Unlevered Free Cash Flow	-609M	1.41B	252M	254M	70.29M
Change In Net Working Capital	3.34B	-824M	-29.95M	-275M	-65.19M
Net Debt Issued / Repaid	-15.04M	-11.79M	-19.62M	-14.92M	482M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	7.85	6.77	7.34	9.76	11.05
Return on Total Capital	8.55	7.62	8.51	11.74	13.64
Return On Equity %	18.72	17.16	19.97	28	33.34
Return on Common Equity	18.72	17.16	19.97	28	33.34
Margin Analysis
Gross Profit Margin %	38.68	38.42	38.96	41.27	39.52
SG&A Margin	9.16	9.81	10.52	9.7	3.43
EBITDA Margin %	48.88	45.17	44.66	45.49	47.55
EBITA Margin %	30.7	28.15	27.37	31.03	35.51
EBIT Margin %	30.7	28.15	27.37	30.94	35.39
Income From Continuing Operations Margin %	28.29	27.12	26.61	29.99	33.79
Net Income Margin %	28.29	27.12	26.61	29.99	33.79
Net Avail. For Common Margin %	28.29	27.12	26.61	29.99	33.79
Normalized Net Income Margin	17.68	16.95	16.92	18.82	21.12
Levered Free Cash Flow Margin	-9.66	66.61	10.6	8.7	0.77
Unlevered Free Cash Flow Margin	-8.04	67.36	11.09	9.52	2.3
Asset Turnover
Asset Turnover	0.41	0.38	0.43	0.5	0.5
Fixed Assets Turnover	0.63	0.64	0.68	0.73	0.7
Receivables Turnover (Average Receivables)	3.06	2.53	2.34	2.68	3.08
Inventory Turnover (Average Inventory)	12.13	8.58	7.87	9.56	10.29
Short Term Liquidity
Current Ratio	4.61	3.55	2.53	0.63	1.49
Quick Ratio	4.22	3.15	2.2	0.55	1.23
Operating Cash Flow to Current Liabilities	0.04	2.93	1.76	0.63	1.18
Days Sales Outstanding (Average Receivables)	119.47	144.8	156	136.35	118.59
Days Outstanding Inventory (Average Inventory)	30.1	42.67	46.39	38.17	35.49
Average Days Payable Outstanding	20.88	44.8	44.83	81.37	135.61
Cash Conversion Cycle (Average Days)	128.69	142.67	157.56	93.15	18.47
Long Term Solvency
Total Debt/Equity	44.92	47.36	55.07	52.53	66.83
Total Debt / Total Capital	31	32.14	35.51	34.44	40.06
LT Debt/Equity	44.82	47	54.34	0.7	65.7
Long-Term Debt / Total Capital	30.93	31.9	35.04	0.46	39.38
Total Liabilities / Total Assets	37.61	40.64	45.15	46.64	51.57
EBIT / Interest Expense	11.87	23.3	35.09	23.72	14.51
EBITDA / Interest Expense	19.04	37.75	58.61	35.31	19.75
(EBITDA - Capex) / Interest Expense	18.41	31.97	25.68	8.42	5.51
Total Debt / EBITDA	1.5	1.61	1.48	1.25	1.48
Net Debt / EBITDA	1.36	0.61	1.05	0.99	1.24
Total Debt / (EBITDA - Capex)	1.55	1.9	3.39	5.24	5.31
Net Debt / (EBITDA - Capex)	1.41	0.72	2.39	4.13	4.45
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	5.12	1.77	8.18	17.79	14.35
Gross Profit, 1 Yr. Growth %	-7.17	1.08	9.72	24.75	26.67
EBITDA, 1 Yr. Growth %	-5.98	-5.96	6.95	19.97	19.53
EBITA, 1 Yr. Growth %	-8.49	-6.66	5.16	33.56	30.84
EBIT, 1 Yr. Growth %	-8.49	-6.66	5.16	33.19	30.78
Earnings From Cont. Operations, 1 Yr. Growth %	-14.81	-2.44	6.13	32.77	28.81
Net Income, 1 Yr. Growth %	-14.81	-2.44	6.13	32.77	28.81
Normalized Net Income, 1 Yr. Growth %	-14.81	-2.44	7.94	31.02	28.34
Diluted EPS Before Extra, 1 Yr. Growth %	-14.81	-2.44	6.13	32.77	28.81
Accounts Receivable, 1 Yr. Growth %	16.89	28.23	8.01	-1.73	2.47
Inventory, 1 Yr. Growth %	47.21	42.6	-1.15	-12.37	34.39
Net Property, Plant and Equip., 1 Yr. Growth %	-0.09	1.29	2.94	14.79	24.69
Total Assets, 1 Yr. Growth %	16.42	1.05	-6.96	7.79	22.7
Tangible Book Value, 1 Yr. Growth %	18.66	-3.85	-14.03	4.53	11.53
Common Equity, 1 Yr. Growth %	18.66	-3.85	-14.03	4.85	11.37
Cash From Operations, 1 Yr. Growth %	-97.6	9.44K	-34.08	29.23	-11.07
Capital Expenditures, 1 Yr. Growth %	-30.73	339.26	297.6	60.96	13.25
Levered Free Cash Flow, 1 Yr. Growth %	-	-801.7	-82.78	-3.28	-89.82
Unlevered Free Cash Flow, 1 Yr. Growth %	-	-952.28	-82.19	1.13	-72.38
Dividend Per Share, 1 Yr. Growth %	-	-	-	109.96	5.01
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-	3.43	4.92	12.88	16.06
Gross Profit, 2 Yr. CAGR %	-	-3.13	5.31	17	16.89
EBITDA, 2 Yr. CAGR %	-	-5.97	0.29	13.27	19.75
EBITA, 2 Yr. CAGR %	-	-7.58	-0.93	18.51	32.19
EBIT, 2 Yr. CAGR %	-	-7.58	-0.93	18.35	31.98
Earnings From Cont. Operations, 2 Yr. CAGR %	-	-8.84	1.75	18.7	30.77
Net Income, 2 Yr. CAGR %	-	-8.84	1.75	18.7	30.77
Normalized Net Income, 2 Yr. CAGR %	-	-8.84	2.62	18.92	29.67
Diluted EPS Before Extra, 2 Yr. CAGR %	-	-8.84	1.75	18.7	30.77
Accounts Receivable, 2 Yr. CAGR %	-	22.43	17.69	3.02	-0.1
Inventory, 2 Yr. CAGR %	-	44.89	18.73	-6.93	8.52
Net Property, Plant and Equip., 2 Yr. CAGR %	-	0.6	2.11	8.71	19.64
Total Assets, 2 Yr. CAGR %	-	8.46	-3.04	0.14	15
Tangible Book Value, 2 Yr. CAGR %	-	6.81	-9.09	-5.21	7.97
Common Equity, 2 Yr. CAGR %	-	6.81	-9.09	-5.06	8.06
Cash From Operations, 2 Yr. CAGR %	-	51.16	693.06	-7.7	7.2
Capital Expenditures, 2 Yr. CAGR %	-	74.43	317.91	152.98	35.01
Levered Free Cash Flow, 2 Yr. CAGR %	-	-	9.91	-59.19	-68.63
Unlevered Free Cash Flow, 2 Yr. CAGR %	-	-	23.19	-57.57	-47.15
Dividend Per Share, 2 Yr. CAGR %	-	-	-	-	48.49
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-	-	4.99	9.05	13.37
Gross Profit, 3 Yr. CAGR %	-	-	0.98	11.43	14.45
EBITDA, 3 Yr. CAGR %	-	-	-1.85	6.46	15.32
EBITA, 3 Yr. CAGR %	-	-	-3.52	9.44	22.49
EBIT, 3 Yr. CAGR %	-	-	-3.52	9.34	22.35
Earnings From Cont. Operations, 3 Yr. CAGR %	-	-	-4.1	11.19	21.98
Net Income, 3 Yr. CAGR %	-	-	-4.1	11.19	21.98
Normalized Net Income, 3 Yr. CAGR %	-	-	-3.55	11.33	21.98
Diluted EPS Before Extra, 3 Yr. CAGR %	-	-	-4.1	11.19	21.98
Accounts Receivable, 3 Yr. CAGR %	-	-	17.42	10.82	2.53
Inventory, 3 Yr. CAGR %	-	-	27.55	7.3	5.2
Net Property, Plant and Equip., 3 Yr. CAGR %	-	-	1.37	6.18	13.79
Total Assets, 3 Yr. CAGR %	-	-	3.06	0.44	7.16
Tangible Book Value, 3 Yr. CAGR %	-	-	-0.65	-4.76	0.07
Common Equity, 3 Yr. CAGR %	-	-	-0.65	-4.66	0.13
Cash From Operations, 3 Yr. CAGR %	-	-	14.63	333.17	-8.84
Capital Expenditures, 3 Yr. CAGR %	-	-	129.56	204.06	93.52
Levered Free Cash Flow, 3 Yr. CAGR %	-	-	-	5.33	-74.31
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	-	-	15.35	-63.22
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	-	-	-	9.28
Gross Profit, 5 Yr. CAGR %	-	-	-	-	7.06
EBITDA, 5 Yr. CAGR %	-	-	-	-	6.28
EBITA, 5 Yr. CAGR %	-	-	-	-	9.44
EBIT, 5 Yr. CAGR %	-	-	-	-	9.36
Earnings From Cont. Operations, 5 Yr. CAGR %