Latest Ratios: P/E Ratio 779.1x · EV/EBITDA 4.3x · ROE 0.1%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $999M | $959M | $869M | $830M | $1.0B | $472M | $226M | $416M | $511M | $886M | $1.6B |
| Enterprise Value | $1.5B | $1.7B | $1.7B | $1.8B | $2.2B | $1.6B | $1.4B | $1.8B | $2.1B | $2.6B | $3.4B |
| P/E Ratio → | 779.06 | 513.43 | 7.82 | 2.78 | — | — | — | 62.22 | — | — | — |
| P/S Ratio | 0.77 | 0.52 | 0.46 | 0.43 | 0.64 | 0.48 | 0.31 | 0.27 | 0.33 | 0.67 | 1.68 |
| P/B Ratio | 0.92 | 0.60 | 0.52 | 0.53 | 0.84 | 0.38 | 0.16 | 0.27 | 0.33 | 0.49 | 0.81 |
| P/FCF | 9.54 | 6.45 | 3.27 | 3.03 | 19.66 | 7.45 | 1.38 | 3.26 | 3.06 | 47.73 | — |
| P/OCF | 3.44 | 2.33 | 1.80 | 1.66 | 4.38 | 3.39 | 1.00 | 1.44 | 1.74 | 7.60 | 13.04 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.90 | 0.88 | 0.91 | 1.34 | 1.62 | 1.93 | 1.19 | 1.38 | 1.93 | 3.56 |
| EV / EBITDA | 4.34 | 3.40 | 3.23 | 1.97 | 7.22 | 8.28 | 7.69 | 4.86 | 5.65 | 8.81 | 14.38 |
| EV / EBIT | 12.38 | 9.70 | 7.55 | 5.64 | 66.67 | — | — | 41.29 | — | — | — |
| EV / FCF | — | 11.20 | 6.34 | 6.46 | 41.08 | 25.23 | 8.60 | 14.40 | 12.68 | 137.49 | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 15.5% | 15.5% | 83.7% | 37.8% | 13.2% | 71.4% | 1.1% | 10.9% | 7.0% | 1.3% | -5.0% |
| Operating Margin | 9.3% | 9.3% | 11.1% | 31.5% | 2.0% | -9.1% | -8.7% | 2.9% | 0.6% | -6.7% | -16.4% |
| Net Profit Margin | 0.1% | 0.1% | 5.8% | 14.9% | -2.1% | -18.0% | -12.8% | 0.4% | -19.1% | -10.0% | -16.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 0.1% | 0.1% | 6.8% | 20.6% | -2.8% | -13.5% | -6.4% | 0.4% | -17.5% | -7.0% | -7.6% |
| ROA | 0.1% | 0.1% | 3.7% | 9.8% | -1.2% | -6.4% | -3.1% | 0.2% | -7.8% | -3.2% | -3.4% |
| ROIC | 5.4% | 5.4% | 6.3% | 18.8% | 1.0% | -2.7% | -1.7% | 1.1% | 0.2% | -1.8% | -3.1% |
| ROCE | 6.8% | 6.8% | 8.0% | 23.9% | 1.3% | -3.5% | -2.2% | 1.4% | 0.3% | -2.3% | -3.6% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.50 | 0.50 | 0.53 | 0.63 | 0.94 | 0.95 | 0.92 | 0.98 | 1.10 | 0.96 | 0.97 |
| Debt / EBITDA | 1.62 | 1.62 | 1.70 | 1.11 | 3.84 | 6.05 | 7.05 | 3.95 | 4.55 | 5.97 | 8.09 |
| Net Debt / Equity | — | 0.44 | 0.48 | 0.60 | 0.92 | 0.92 | 0.84 | 0.93 | 1.03 | 0.92 | 0.91 |
| Net Debt / EBITDA | 1.44 | 1.44 | 1.56 | 1.05 | 3.77 | 5.84 | 6.46 | 3.76 | 4.29 | 5.75 | 7.60 |
| Debt / FCF | — | 4.75 | 3.07 | 3.43 | 21.42 | 17.78 | 7.22 | 11.14 | 9.63 | 89.76 | — |
| Interest Coverage | 3.00 | 3.00 | 3.26 | 3.70 | 0.37 | -1.10 | -0.01 | 0.38 | -1.58 | -0.74 | -1.16 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.62 | 1.62 | 1.48 | 1.40 | 1.11 | 1.34 | 2.05 | 1.93 | 1.85 | 2.11 | 1.96 |
| Quick Ratio | 1.46 | 1.46 | 1.35 | 1.30 | 1.03 | 1.24 | 1.89 | 1.79 | 1.73 | 1.99 | 1.86 |
| Cash Ratio | 0.29 | 0.29 | 0.22 | 0.15 | 0.05 | 0.17 | 0.65 | 0.35 | 0.34 | 0.31 | 0.48 |
| Asset Turnover | — | 0.68 | 0.64 | 0.64 | 0.56 | 0.37 | 0.25 | 0.47 | 0.42 | 0.34 | 0.22 |
| Inventory Turnover | 31.79 | 31.79 | 7.14 | 34.15 | 39.92 | 12.05 | 27.65 | 43.27 | 42.06 | 52.94 | 41.39 |
| Days Sales Outstanding | — | 69.71 | 72.66 | 79.38 | 93.42 | 66.44 | 64.95 | 73.73 | 73.89 | 97.25 | 91.24 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 0.1% | 0.2% | 12.8% | 36.0% | — | — | — | 1.6% | — | — | — |
| FCF Yield | 10.5% | 15.5% | 30.5% | 33.0% | 5.1% | 13.4% | 72.7% | 30.6% | 32.7% | 2.1% | — |
| Buyback Yield | 5.3% | 7.9% | 8.7% | 3.6% | 1.0% | 0.9% | 5.0% | 6.2% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 5.3% | 7.9% | 8.7% | 3.6% | 1.0% | 0.9% | 5.0% | 6.2% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $13M | $14M | $15M | $14M | $13M | $14M | $15M | $15M | $15M | $15M |
Cyclical Margin Volatility
According to current market data, PDS trades at a forward P/E of 10.16 and an EV/EBITDA of 4.37, suggesting that investors are pricing in significant cyclical risk despite the company's efforts to differentiate its fleet through the proprietary Alpha digital ecosystem and international expansion.
The wide gap between the trailing P/E of 786.85 and the forward multiple indicates that the market expects a substantial recovery in earnings, likely driven by improved utilization in the Middle East. However, this valuation appears to discount the structural challenges of the North American drilling market, where high fixed costs continue to weigh on bottom-line performance.
Based on reported figures, ROIC has struggled to maintain momentum, hovering at a modest 1.3% in 2026Q1, which highlights the difficulty of generating meaningful returns on invested capital within a capital-intensive industry characterized by high maintenance requirements and persistent pricing pressure on dayrates.
The inability to consistently drive ROIC above the cost of capital suggests that the company's heavy investment in high-spec rigs has yet to yield the expected efficiency gains. Investors should monitor whether the shift toward international contracts can improve these returns, as domestic operations remain hampered by seasonal and regulatory volatility.
As reported in financial statements, the company's cash conversion cycle has exhibited extreme volatility, swinging from 19 days in 2026Q1 to a negative 180 days in 2025Q2, indicating that management faces significant challenges in aligning accounts receivable and payable cycles with the erratic nature of drilling project cash flows.
The inconsistency in DSO and DPO trends suggests that PDS lacks the leverage to dictate payment terms to its E&P customers, forcing the company to absorb the impact of working capital fluctuations. This operational inefficiency appears to be a primary driver of the company's inconsistent free cash flow generation.
The common reliance on P/E ratios to evaluate PDS is fundamentally flawed, as reported earnings are heavily distorted by lumpy rig reactivation costs and depreciation policies that do not reflect the underlying cash-generating capacity of the firm's high-spec, technology-integrated drilling fleet.
Analysts should instead prioritize EV/EBITDA and P/FCF to better capture the company's operational performance, as these metrics strip away the accounting noise associated with capital-intensive asset management. Focusing on P/E risks misinterpreting the company's true value by over-weighting non-cash expenses that are inherent to the drilling business model.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying PDS stock.
Precision Drilling Corporation's current P/E ratio is 779.1x. The historical average is 38.3x. This places it at the 100th percentile of its historical range.
Precision Drilling Corporation's current EV/EBITDA is 4.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 13.6x.
Precision Drilling Corporation's return on equity (ROE) is 0.1%. The historical average is 8.9%.
Based on historical data, Precision Drilling Corporation is trading at a P/E of 779.1x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Precision Drilling Corporation has 15.5% gross margin and 9.3% operating margin.
Precision Drilling Corporation's Debt/EBITDA ratio is 1.6x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.