Vantage Drilling International

Earnings Score
Moat Score

Market Cap $346.61M
PE -9
Debt $188.92M
Cash $82.37M
EV $453.15M
FCF $NaN

Earnings

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Sales & Net Margins

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Earnings	-$38.14M
EBIT	-$3.40M
ROE	-15%
ROA	-1%
Equity	$260.67M
Growth Stability	-882%
PE	-9.09
PEG	1.03
PB	1.33
P/S	1.04
Price/Cash	0.24
Debt/Equity	0.72
Net Margins	-1%
Gross Margins	18%
Op. Margins	-1%
Earnings CAGR	-2%
Sales Growth YoY	47%
Sales Growth QoQ	40%
Sales CAGR	11%
Equity CAGR	5%
Earnings Stability	-0.22
Earnings Growth YoY	-98%

Earnings Growth QoQ	-139%
Earnings CAGR 5Y	-9%
Sales CAGR 5Y	-11%
Equity CAGR 5Y	-20%
Earnings CAGR 3Y	53%
Sales CAGR 3Y	53%
Equity CAGR 3Y	-14%
Market Cap	$346.61M
Revenue	$332.06M
Assets	$580.61M
Total Debt	$188.92M
Cash	$82.37M
Shares Outstanding	13.2M
EV	453.15M
Earnings Score	6%
Moat Score	15%
Working Capital	126.8M
Current Ratio	2.04
Shares Growth 3y	0%
Equity Growth QoQ	0%
Equity Growth YoY	-13%

Assets & ROA

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Stockholders Equity & ROE

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Vantage Drilling International is an offshore drilling contractor. It operates and manages a fleet of drilling units. Its principal business is to contract drilling units, related equipment, and work crews on a day rate basis to drill oil and natural gas wells. Its rig fleet consists of ultra-deep-water drillships, including Platinum Explorer and Tungsten Explorer; and Jackups, including Topaz Driller and Soehanah. The company's geographical segments includes Cayman Islands, Montenegro, Qatar, India, Indonesia, Lebanon, Congo, and Other Countries.

SEC Filings

Direct access to Vantage Drilling International (VTDRF) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2023
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2021
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Vantage Drilling International compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Vantage Drilling International compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR -2%

Stability -22%

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Vantage Drilling International Discounted Cash Flow

Fully customizable DCF calculator online for Vantage Drilling International.

Years

Calculation mode

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
DCF		$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Value	$0

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	TTM
Net Margins	11%	2%	-93%	-70%	-63%	60%	-218%	-70%	-1%	-1%
ROA	-	-	-6%	-6%	-4%	43%	-31%	-10%	7%	-1%
ROE	-	-	-65%	-195%	219%	70%	-74%	-41%	-1%	-15%

Bad Net Margins (-0.85%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	TTM
Debt over FCF	-	-	-	-	-	-	-	-	-	-
Debt over Equity	5.19	0.13	13.22	39.03	-48.31	0.54	0.93	1.32	0.69	0.72
Growth Stability	-	-	-	-	-	-	-505%	-882%	-15%	-882%

Neutral Debt/FCF ratio (-)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Good Debt/Equity ratio (0.72)

The company is not overleveraged and has a good balance between equity and debt.

Bad Graham’s Stability (-882%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	CAGR 5Y
Revenue YoY growth	-	-13%	-79%	34%	6%	237%	-83%	25%	76%	-11%
Earnings YoY growth	-	-81%	-956%	2%	-6%	-422%	-161%	-60%	-97%	-9%
Equity YoY growth	-	-6%	-52%	-66%	-184%	-1K%	-42%	-29%	-1%	-20%
FCF YoY growth	-	-77%	-	-	-	-	-	-	-	-