Precision Drilling Corporation (PDS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+189.2%

$287.47

vs $99.42 price

Levered DCF

$262.63

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

1.4

Distress zone

Rating

B-

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	704.49×	11.25×	3.42×	-41.05×	-3.36×	-2.4×	78.98×	-2.37×
P/B	0.83×	0.75×	0.68×	1.14×	0.49×	0.21×	0.35×	0.45×
P/S	0.71×	0.66×	0.55×	0.87×	0.6×	0.39×	0.34×	0.45×
EV / EBITDA	4.59×	3.88×	3.28×	7.2×	9.49×	4.68×	5.15×	6.15×
Gross margin	82.8%	83.7%	37.8%	13.2%	71.4%	1.1%	10.9%	7.0%
Operating margin	5.7%	11.1%	31.5%	2.0%	-9.1%	-8.7%	2.9%	0.6%
Net margin	0.1%	5.8%	14.9%	-2.1%	-18.0%	-12.8%	0.4%	-19.1%
Current ratio	1.62×	1.48×	1.4×	1.11×	1.34×	2.05×	1.93×	1.85×
Debt / equity	0.47×	0.53×	0.63×	0.94×	0.95×	0.92×	0.98×	1.1×
Interest coverage	0×	3.1×	7.21×	0.37×	-0.98×	-0.6×	0.38×	0.07×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	0.1%	6.6%	18.4%	-2.8%	-14.5%	-6.7%	0.4%	-18.9%
Return on invested capital	0.2%	5.8%	22.9%	1.3%	-3.6%	-2.3%	-1.2%	0.3%
Return on assets	0.1%	3.8%	9.6%	-1.2%	-6.7%	-3.3%	0.2%	-8.1%
Free cash flow yield	11.3%	21.2%	25.7%	3.8%	10.6%	57.0%	24.1%	24.0%
Earnings yield	0.1%	8.9%	27.2%	-2.4%	-29.7%	-32.7%	1.3%	-42.2%
Enterprise value	$2B	$2.1B	$2B	$2.5B	$1.7B	$1.5B	$1.9B	$2.3B
Net debt / EBITDA	1.53×	1.53×	1.53×	3.21×	6.21×	3.77×	3.76×	4.29×
Cash conversion cycle (days)	-12	-10	44	-3	-21	50	58	50