Drilling Tools International Corp. (DTI) 10-Year Financial Performance & Capital Metrics

DTI • • Industrial / General

EnergyOilfield ServicesDrilling Equipment & ServicesDrilling Tools & Rentals

AboutDrilling Tools International Corp. provides oilfield equipment and services to oil and natural gas sectors in North America, Europe, and the Middle East. It offers downhole desander and filters; non-mag and steel drill collars; tubulars; flapper plugs; and well bore conditioning and fraction reduction technologies. The company also provides hole openers, roller reamers, and extended reach drilling tools; stabilizers comprising integral blade, sleeve, and welded blade string stabilizers, as well as hard facing tools; stinger valves; and sub-assemblies, which includes heat-treated steel and non-magnetic metal subs. In addition, it offers handling tools, such as elevators, brackets and bail assembly, slips, tongs, stabbing guides, and safety clamps; blowout preventors and pressure control equipment; and drilling accessories including float valve, ring gauge, tool basket, lift bail, and ditch magnet. Further, the company provides downhole inspection, well fence data automation, and compass services. Drilling Tools International Corp. was founded in 1984 and is headquartered in Houston, Texas.Show more

Revenue $154M +1.6%
EBITDA $37M -22.8%
Net Income $3M -79.6%
EPS (Diluted) 0.09 -84.2%
Gross Margin 59.65% -5.7%
EBITDA Margin 24.12% -24.0%
Operating Margin 8.69% -52.6%
Net Margin 1.95% -79.9%
ROE 2.89% -86.5%
ROIC 6.9% -69.2%
Debt/Equity 0.64 +200.8%
Interest Coverage 3.99 -84.2%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 31.4%
✓High quality earnings: Operating CF exceeds net income
✓Trading at only 0.9x book value

✗Weaknesses

✗Negative free cash flow
✗Shares diluted 28.6% in last year

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y25.91%

TTM7.46%

Profit (Net Income) CAGR

10Y-

5Y-

3Y12.78%

TTM-177.3%

EPS CAGR

10Y-

5Y-

3Y-

TTM-165.64%

ROCE

10Y Avg17.55%

5Y Avg17.55%

3Y Avg30.38%

Latest8.9%

Peer Comparison

Drilling Tools & Rentals

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
XPROExpro Group Holdings N.V.	1.84B	16.24	36.09	13.22%	4.15%	4.54%	1.4%	0.14
DTIDrilling Tools International Corp.	111.58M	3.17	33.98	1.59%	-3.93%	-5.22%		0.64
INVXInnovex International, Inc.	1.68B	24.31	8.78	18.95%	10.58%	9.73%	4.77%	0.10
KLXEKLX Energy Services Holdings, Inc.	37.82M	2.12	-0.65	-20.16%	-11.89%	-374.56%

Profit & Loss

	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	77.38M	129.56M	152.03M	154.45M
Revenue Growth %	-	0.67%	0.17%	0.02%
Cost of Goods Sold+	23.63M	52.71M	55.87M	62.32M
COGS % of Revenue	0.31%	0.41%	0.37%	0.4%
Gross Profit+	53.75M	76.84M	96.16M	92.12M
Gross Margin %	0.69%	0.59%	0.63%	0.6%
Gross Profit Growth %	-	0.43%	0.25%	-0.04%
Operating Expenses+	60.03M	51.57M	68.26M	78.69M
OpEx % of Revenue	0.78%	0.4%	0.45%	0.51%
Selling, General & Admin	38.31M	51.57M	70.6M	78.69M
SG&A % of Revenue	0.5%	0.4%	0.46%	0.51%
Research & Development	0	0	0	0
R&D % of Revenue	-	-	-	-
Other Operating Expenses	21.72M	0	-2.34M	0
Operating Income+	-6.28M	25.28M	27.9M	13.43M
Operating Margin %	-0.08%	0.2%	0.18%	0.09%
Operating Income Growth %	-	5.03%	0.1%	-0.52%
EBITDA+	15.44M	44.99M	48.25M	37.26M
EBITDA Margin %	0.2%	0.35%	0.32%	0.24%
EBITDA Growth %	-	1.91%	0.07%	-0.23%
D&A (Non-Cash Add-back)	21.72M	19.71M	20.35M	23.83M
EBIT	3.12M	25.25M	20.9M	6.35M
Net Interest Income+	-1.23M	-425K	-1.05M	-3.17M
Interest Income	0	52K	48K	197K
Interest Expense	1.23M	477K	1.1M	3.37M
Other Income/Expense	8.17M	-500K	-8.11M	-10.44M
Pretax Income+	1.89M	24.78M	19.79M	2.98M
Pretax Margin %	0.02%	0.19%	0.13%	0.02%
Income Tax+	-209K	3.7M	5.05M	-30K
Effective Tax Rate %	1.11%	0.85%	0.75%	1.01%
Net Income+	2.1M	21.08M	14.75M	3.01M
Net Margin %	0.03%	0.16%	0.1%	0.02%
Net Income Growth %	-	9.03%	-0.3%	-0.8%
Net Income (Continuing)	2.1M	21.08M	14.75M	3.01M
Discontinued Operations	0	0	0	0
Minority Interest	0	0	0	0
EPS (Diluted)+	-0.01	1.01	0.59	0.09
EPS Growth %	-	-	-0.42%	-0.84%
EPS (Basic)	-0.01	1.66	0.50	0.09
Diluted Shares Outstanding	26.85M	19.68M	25.13M	32.31M
Basic Shares Outstanding	26.85M	26.85M	29.77M	31.94M
Dividend Payout Ratio	-	-	-	-

Balance Sheet

	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	24.24M	40.16M	46.41M	68.08M
Cash & Short-Term Investments	961K	3.5M	6.89M	6.18M
Cash Only	52K	2.35M	6M	6.18M
Short-Term Investments	909K	1.14M	888K	0
Accounts Receivable	20.04M	31.11M	29.93M	40.52M
Days Sales Outstanding	94.52	87.66	71.85	95.75
Inventory	2.34M	3.28M	5.03M	17.5M
Days Inventory Outstanding	36.16	22.72	32.89	102.5
Other Current Assets	12K	493K	19K	-1K
Total Non-Current Assets+	45.26M	65.06M	86.09M	154.35M
Property, Plant & Equipment	44.39M	64.19M	84.59M	98.29M
Fixed Asset Turnover	1.74x	2.02x	1.80x	1.57x
Goodwill	0	0	0	12.15M
Intangible Assets	402K	263K	216K	37.23M
Long-Term Investments	0	0	0	4.26M
Other Non-Current Assets	469K	609K	1.29M	2.42M
Total Assets+	69.51M	105.22M	132.5M	222.43M
Asset Turnover	1.11x	1.23x	1.15x	0.69x
Asset Growth %	-	0.51%	0.26%	0.68%
Total Current Liabilities+	39.54M	36.24M	22.29M	30.96M
Accounts Payable	8.26M	7.28M	7.75M	11.98M
Days Payables Outstanding	127.62	50.42	50.64	70.18
Short-Term Debt	27.37M	18.35M	0	11.12M
Deferred Revenue (Current)	63K	83K	1000K	675K
Other Current Liabilities	2.02M	3.67M	5.08M	4.51M
Current Ratio	0.61x	1.11x	2.08x	2.20x
Quick Ratio	0.55x	1.02x	1.86x	1.63x
Cash Conversion Cycle	3.05	59.96	54.1	128.07
Total Non-Current Liabilities+	18.8M	19.88M	21.52M	71.51M
Long-Term Debt	0	0	0	46.82M
Capital Lease Obligations	0	16.69M	14.89M	18.77M
Deferred Tax Liabilities	2.1M	3.19M	6.63M	5.93M
Other Non-Current Liabilities	16.7M	0	0	0
Total Liabilities	58.35M	56.12M	43.81M	102.47M
Total Debt+	27.37M	38.35M	18.85M	76.7M
Net Debt	27.32M	36M	12.85M	70.51M
Debt / Equity	2.45x	0.78x	0.21x	0.64x
Debt / EBITDA	1.77x	0.85x	0.39x	2.06x
Net Debt / EBITDA	1.77x	0.80x	0.27x	1.89x
Interest Coverage	-5.11x	52.99x	25.29x	3.99x
Total Equity+	11.16M	49.1M	88.69M	119.96M
Equity Growth %	-	3.4%	0.81%	0.35%
Book Value per Share	0.42	2.50	3.53	3.71
Total Shareholders' Equity	11.16M	49.1M	88.69M	119.96M
Common Stock	532K	1K	3K	3K
Retained Earnings	-42.13M	-21.05M	-6.31M	-3.58M
Treasury Stock	-933K	0	0	0
Accumulated OCI	-284K	-111K	-225K	-1.88M
Minority Interest	0	0	0	0

Cash Flow

	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-494K	13.99M	23.33M	6.06M
Operating CF Margin %	-0.01%	0.11%	0.15%	0.04%
Operating CF Growth %	-	29.33%	0.67%	-0.74%
Net Income	2.1M	21.08M	14.75M	3.01M
Depreciation & Amortization	21.72M	19.71M	20.35M	23.83M
Stock-Based Compensation	32K	0	3.99M	2.09M
Deferred Taxes	-1.34M	1.08M	3.44M	-778K
Other Non-Cash Items	-17.82M	-13.44M	-11.07M	-4.51M
Working Capital Changes	-5.18M	-14.43M	-8.13M	-17.59M
Change in Receivables	-9.35M	-9.27M	-1.05M	-4.01M
Change in Inventory	648K	-906K	-1.72M	-4.32M
Change in Payables	3.08M	-1.43M	-1.55M	-78K
Cash from Investing+	3.34M	-2.53M	-23.86M	-53.59M
Capital Expenditures	-11.39M	-24.69M	-43.75M	-22.89M
CapEx % of Revenue	0.15%	0.19%	0.29%	0.15%
Acquisitions	-	-	-	-
Investments	-	-	-	-
Other Investing	223.79M	22.16M	19.89M	15.32M
Cash from Financing+	-2.87M	-9.34M	4.29M	47.88M
Debt Issued (Net)	-	-	-	-
Equity Issued (Net)	-	-	-	-
Dividends Paid	0	0	0	0
Share Repurchases	-	-	-	-
Other Financing	-213.31M	-251K	-324K	-722K
Net Change in Cash	-	-	-	-
Free Cash Flow+	-11.88M	-10.69M	-20.42M	-16.83M
FCF Margin %	-0.15%	-0.08%	-0.13%	-0.11%
FCF Growth %	-	0.1%	-0.91%	0.18%
FCF per Share	-0.44	-0.54	-0.81	-0.52
FCF Conversion (FCF/Net Income)	-0.24x	0.66x	1.58x	2.01x
Interest Paid	1.93M	340K	1.17M	2.67M
Taxes Paid	422K	723K	3.01M	2.97M

Key Ratios

Metric	2021	2022	2023	2024
Return on Equity (ROE)	18.83%	69.96%	21.41%	2.89%
Return on Invested Capital (ROIC)	-12.24%	30.68%	22.42%	6.9%
Gross Margin	69.46%	59.31%	63.25%	59.65%
Net Margin	2.72%	16.27%	9.7%	1.95%
Debt / Equity	2.45x	0.78x	0.21x	0.64x
Interest Coverage	-5.11x	52.99x	25.29x	3.99x
FCF Conversion	-0.24x	0.66x	1.58x	2.01x
Revenue Growth	-	67.43%	17.35%	1.59%

Revenue by Segment

	2024
Tool Rental	117.93M
Tool Rental Growth	-
Product	36.52M
Product Growth	-

Revenue by Geography

	2024
UNITED STATES	125.3M
UNITED STATES Growth	-

Frequently Asked Questions

Valuation & Price

Drilling Tools International Corp. (DTI) has a price-to-earnings (P/E) ratio of 34.0x. This suggests investors expect higher future growth.

Growth & Financials

Drilling Tools International Corp. (DTI) reported $161.0M in revenue for fiscal year 2024. This represents a 108% increase from $77.4M in 2021.

Drilling Tools International Corp. (DTI) grew revenue by 1.6% over the past year. Growth has been modest.

Drilling Tools International Corp. (DTI) reported a net loss of $6.3M for fiscal year 2024.

Dividend & Returns

Drilling Tools International Corp. (DTI) has a return on equity (ROE) of 2.9%. This is below average, suggesting room for improvement.

Drilling Tools International Corp. (DTI) had negative free cash flow of $8.9M in fiscal year 2024, likely due to heavy capital investments.

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