Detailed financial statements for Drilling Tools International Corp. (DTI): income statement, balance sheet and cash-flow summary. Track margins, debt, liquidity and profitability trends year over year with up to 20 years of history.
Drilling Tools International Corp. (DTI) delivers specialized equipment and essential services to the oil and natural gas industry, with operations spanning North America, Europe, and the Middle East. The company offers a wide array of downhole products, including desanders, filters, both magnetic and non-magnetic drill collars, tubular goods, and flapper plugs, alongside advanced technologies for wellbore conditioning and friction reduction.
Analysis Summary
Trailing-twelve-month margins: gross margin 68.0%, operating margin 4.4%, net margin -2.0%.
At the current price of $2.49, DTI has negative trailing earnings (P/E not meaningful) and an ROE of -2.49%. Market capitalisation stands at $87M.
Balance sheet quality for DTI: current ratio of 2.1. A debt-to-equity below 1.0 typically signals conservative capital structure, while a current ratio above 1.5 indicates comfortable short-term liquidity.
Income Statement (10y)
| Year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $77.4M | $129.6M | $152.0M | $154.4M | $159.6M |
| Cost of Revenue | $23.6M | $52.7M | $55.9M | $62.3M | $68.6M |
| Gross Profit | $53.8M | $76.8M | $96.2M | $92.1M | $91.1M |
| Research & Development | 0 | 0 | 0 | 0 | 0 |
| Selling, General & Admin | $38.3M | $51.6M | $70.6M | $78.7M | $82.2M |
| Operating Expenses | $60.0M | $51.6M | $68.3M | $78.7M | $82.2M |
| Operating Income | -$6.3M | $25.3M | $27.9M | $13.4M | $8.8M |
| EBITDA | $24.8M | $45.0M | $41.2M | $30.2M | $29.5M |
| Interest Expense | $1.2M | $477000 | $1.1M | $3.4M | $5.1M |
| Pre-tax Income | $1.9M | $24.8M | $19.8M | $3.0M | -$2.9M |
| Income Tax | -$209000 | $3.7M | $5.0M | -$30000 | $905000 |
| Net Income | $2.1M | $21.1M | $14.7M | $3.0M | -$3.8M |
| EPS | $0.04 | $1.07 | $0.59 | $0.09 | $-0.11 |
| EPS (Diluted) | $0.04 | $1.07 | $0.59 | $0.09 | $-0.11 |
| Shares Outstanding (Diluted) | $26.9M | $19.7M | $25.1M | $32.3M | $35.5M |
Growth & Margins (10y)
| Year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue Growth (YoY) | +67.4% | +17.4% | +1.6% | +3.4% | |
| Net Income Growth (YoY) | +903.3% | -30.0% | -79.6% | -224.8% | |
| EPS Growth (YoY) | +2575.0% | -44.9% | -84.0% | -216.5% | |
| Shares Change (YoY) | -26.7% | +27.7% | +28.6% | +10.0% | |
| Gross Margin | 69.5% | 59.3% | 63.3% | 59.6% | 57.0% |
| Operating Margin | -8.1% | 19.5% | 18.4% | 8.7% | 5.5% |
| EBITDA Margin | 32.1% | 34.7% | 27.1% | 19.5% | 18.5% |
| Net Margin | 2.7% | 16.3% | 9.7% | 2.0% | -2.4% |
| Effective Tax Rate | -11.0% | 14.9% | 25.5% | -1.0% | -31.7% |
What to look at in Energy companies
- FCF yield (>8%) — Cash generated / market cap. In energy FCF beats EPS.
- ROIC 5y avg (>=10%) — Include good and bad years to filter the truly disciplined.
- Positive FCF in 8 of last 10y (>=8/10) — Disciplined names (XOM, CVX, EOG) survive 2014-16 and 2020 crashes.
- Dividend coverage (FCF / div) (>=1.2x) — Dividend covered by FCF, not borrowed. <1x = likely cut.
- Net Debt / EBITDA (<2x at peak) — Look at it with trough EBITDA, not the peak.
- Capex / Revenue (10-20% healthy) — Energy needs aggressive reinvestment to maintain reserves.
Profitability
| Return on Equity | -2.49% |
| Return on Invested Capital | 2.96% |
| Return on Assets | -1.32% |
| Gross Margin | 68.00% |
| Operating Margin | 4.38% |
| Net Margin | -1.97% |
Financial Health
| Debt / Equity | 0.66 |
| Current Ratio | 2.18 |
Key Ratios (10y)
| Year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| P/E | 246.25 | 9.57 | 5.42 | 34.64 | -22.27 |
| P/B | 23.70 | 4.10 | 0.91 | 0.87 | 0.71 |
| P/S | 3.42 | 1.56 | 0.53 | 0.68 | 0.55 |
| Gross Margin | 69.5% | 59.3% | 63.3% | 59.6% | 57.0% |
| Operating Margin | -8.1% | 19.5% | 18.4% | 8.7% | 5.5% |
| Net Margin | 2.7% | 16.3% | 9.7% | 2.0% | -2.4% |
Related companies: ACDC · AROC · EFXT · FET · FTK · INVX · KLXE
Explore sector: Energy · Oil & Gas Equipment & Services
More sections of DTI: Overview · Valuation · Statistics · Estimates · Technical · Ownership · News · Events
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