Financial leverage has increased significantly, with total debt rising to $76.7 million in 2026Q1 from $18.9 million in 2023Q4, resulting in a debt-to-equity ratio of 0.64.
| Total Current Assets | 68.73M | 64.89M | 68.08M | 46.41M | 40.16M | 24.24M |
| Cash & Short-Term Investments | 2.84M | 3.65M | 6.18M | 6.89M | 3.5M | 961K |
| Cash Only | 2.84M | 3.65M | 6.18M | 6M | 2.35M | 52K |
| Short-Term Investments | 0 | 0 | 0 | 888K | 1.14M | 909K |
| Accounts Receivable | 43.51M | 39.22M | 40.52M | 29.93M | 31.11M | 20.04M |
| Days Sales Outstanding | 97.48 | 89.69 | 95.75 | 71.85 | 87.66 | 94.52 |
| Inventory | 20.93M | 18.15M | 17.5M | 5.03M | 3.28M | 2.34M |
| Days Inventory Outstanding | 125.53 | 96.61 | 102.5 | 32.89 | 22.72 | 36.16 |
| Other Current Assets | 0 | 3.87M | -1K | 19K | 493K | 12K |
| Total Non-Current Assets | 155.97M | 157.29M | 154.35M | 86.09M | 65.06M | 45.26M |
| Property, Plant & Equipment | 97.27M | 97.78M | 98.29M | 84.59M | 64.19M | 44.39M |
| Fixed Asset Turnover | 1.55x | 1.63x | 1.57x | 1.80x | 2.02x | 1.74x |
| Goodwill | 14.52M | 14.62M | 12.15M | 0 | 0 | 0 |
| Intangible Assets | 38.44M | 39.67M | 37.23M | 216K | 263K | 402K |
| Long-Term Investments | 16.59M | 3.84M | 4.26M | 0 | 0 | 0 |
| Other Non-Current Assets | 1.81M | 1.39M | 2.42M | 1.29M | 609K | 469K |
| Total Assets | 224.7M | 222.18M | 222.43M | 132.5M | 105.22M | 69.51M |
| Asset Turnover | 0.68x | 0.72x | 0.69x | 1.15x | 1.23x | 1.11x |
| Asset Growth % | 38.16% | -0.11% | 67.88% | 25.93% | 51.38% | - |
| Total Current Liabilities | 31.94M | 30.82M | 30.96M | 22.29M | 36.24M | 39.54M |
| Accounts Payable | 12.23M | 9.79M | 11.98M | 7.75M | 7.28M | 8.26M |
| Days Payables Outstanding | 72.85 | 52.09 | 70.18 | 50.64 | 50.42 | 127.62 |
| Short-Term Debt | 10.59M | 10.32M | 11.12M | 0 | 18.35M | 27.37M |
| Deferred Revenue (Current) | 840K | 0 | 675K | 1.04M | 83K | 63K |
| Other Current Liabilities | 2.77M | 10.71M | 4.51M | 5.08M | 3.67M | 2.02M |
| Current Ratio | 2.15x | 2.11x | 2.20x | 2.08x | 1.11x | 0.61x |
| Quick Ratio | 1.50x | 1.52x | 1.63x | 1.86x | 1.02x | 0.55x |
| Cash Conversion Cycle | 150.16 | 134.21 | 128.07 | 54.1 | 59.96 | 3.05 |
| Total Non-Current Liabilities | 72.33M | 68.49M | 71.51M | 21.52M | 19.88M | 18.8M |
| Long-Term Debt | 45.76M | 46.49M | 46.82M | 0 | 0 | 0 |
| Capital Lease Obligations | 82.94M | 0 | 18.77M | 14.89M | 16.69M | 0 |
| Deferred Tax Liabilities | 26.56M | 7.17M | 5.93M | 6.63M | 3.19M | 2.1M |
| Other Non-Current Liabilities | 0 | 14.83M | 0 | 0 | 0 | 16.7M |
| Total Liabilities | 104.27M | 99.31M | 102.47M | 43.81M | 56.12M | 58.35M |
| Total Debt | 76.72M | 56.82M | 76.7M | 18.85M | 38.35M | 27.37M |
| Net Debt | 73.88M | 53.17M | 70.51M | 12.85M | 36M | 27.32M |
| Debt / Equity | 0.64x | 0.46x | 0.64x | 0.21x | 0.78x | 2.45x |
| Debt / EBITDA | 2.03x | 1.57x | 2.06x | 0.39x | 0.85x | 1.77x |
| Net Debt / EBITDA | 1.96x | 1.47x | 1.89x | 0.27x | 0.80x | 1.77x |
| Interest Coverage | 0.18x | 1.74x | 1.89x | 18.95x | 52.94x | 2.54x |
| Total Equity | 120.43M | 122.87M | 119.96M | 88.69M | 49.1M | 11.16M |
| Equity Growth % | 30.93% | 2.43% | 35.26% | 80.62% | 339.98% | - |
| Book Value per Share | 3.43 | 3.46 | 3.71 | 3.53 | 2.50 | 0.42 |
| Total Shareholders' Equity | 120.42M | 122.86M | 119.96M | 88.69M | 49.1M | 11.16M |
| Common Stock | 4K | 4K | 3K | 3K | 1K | 532K |
| Retained Earnings | -8.88M | -7.34M | -3.58M | -6.31M | -21.05M | -42.13M |
| Treasury Stock | -2.19M | -1.26M | 0 | 0 | 0 | -933K |
| Accumulated OCI | -90K | 664K | -1.88M | -225K | -111K | -284K |
| Minority Interest | 14K | 12K | 0 | 0 | 0 | 0 |
Insufficient liquidity for operations
As reported in recent financial statements, DTI's cash position has dwindled to $2.8 million as of 2026Q1, representing a significant decline from the $14.1 million held in 2024Q1, which suggests a narrowing margin for error in funding ongoing fleet maintenance and operational requirements.
The rapid depletion of cash reserves relative to the company's capital-intensive business model warrants close monitoring by investors. With current assets barely covering liabilities, the company appears to lack the necessary liquidity buffer to withstand prolonged volatility in North American drilling activity.
Based on the company's quarterly filings, total debt has climbed to $76.7 million in 2026Q1 from $18.9 million in 2023Q4, pushing the debt-to-equity ratio to 0.64, which indicates an increasing reliance on external financing to support the rental fleet during a period of negative net income.
This trend suggests that the company is leveraging its balance sheet to sustain operations rather than funding growth through internal cash generation. Investors should consider whether this debt load is sustainable if the current drilling environment fails to improve, as interest burdens may further compress already strained margins.
According to recent balance sheet data, net property, plant, and equipment accounts for approximately $97.3 million of the $224.7 million total asset base, highlighting the company's heavy reliance on its rental fleet to drive revenue in a capital-intensive oilfield services environment.
The concentration of assets in physical rental tools implies that the company's valuation is highly sensitive to the depreciation schedules and utilization rates of its BHA components. Any impairment of these assets could significantly impact the book value of equity, given the current lack of profitability.
As indicated by the company's financial statements, retained earnings have remained consistently negative, reaching -$8.9 million in 2026Q1, which suggests that the company has struggled to generate organic value for shareholders since its transition to a public entity.
The persistent accumulation of losses in the equity section may indicate that the business model is not yet optimized for its current cost structure. This trend warrants further investigation into whether the company's recent corporate restructuring has successfully aligned its operational footprint with market demand.
Quick answers to the most common questions about buying DTI stock.
As of 2025, Drilling Tools International Corp. (DTI) had total assets of $222.2M including $64.9M in current assets.
Drilling Tools International Corp. (DTI) carries total debt of $56.8M, offset by $3.6M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Drilling Tools International Corp. (DTI) has total shareholders' equity (book value) of $122.9M ($3.46 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Drilling Tools International Corp. (DTI) reported a current ratio of 2.11x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.