NorAm Drilling AS
NorAm Drilling AS, together with its subsidiary, owns and operates AC driven rigs for the drilling of horizontal wells in the United States. The company owns and operates a fleet of rigs located in the Permian Basin. NorAm Drilling AS was incorporated in 2007 and is headquartered in Oslo, Norway.
NorAm Drilling AS (TM9) - Net Assets
Latest net assets as of June 2023: €88.86 Million EUR
Based on the latest financial reports, NorAm Drilling AS (TM9) has net assets worth €88.86 Million EUR as of June 2023.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (€111.31 Million) and total liabilities (€22.45 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | €88.86 Million |
| % of Total Assets | 79.83% |
| Annual Growth Rate | 11.84% |
| 5-Year Change | N/A |
| 10-Year Change | N/A |
| Growth Volatility | 78.9 |
NorAm Drilling AS - Net Assets Trend (2019–2022)
This chart illustrates how NorAm Drilling AS's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for NorAm Drilling AS (2019–2022)
The table below shows the annual net assets of NorAm Drilling AS from 2019 to 2022.
| Year | Net Assets | Change |
|---|---|---|
| 2022-12-31 | €82.03 Million | +143.21% |
| 2021-12-31 | €33.73 Million | -25.15% |
| 2020-12-31 | €45.06 Million | -23.16% |
| 2019-12-31 | €58.64 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to NorAm Drilling AS's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 1493600000.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2022)
| Component | Amount | Percentage |
|---|---|---|
| Other Components | €149.49 Million | 182.23% |
| Total Equity | €82.03 Million | 100.00% |
NorAm Drilling AS Competitors by Market Cap
The table below lists competitors of NorAm Drilling AS ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
ANTARES VISION SPA O.N.
F:2YK
|
$76.85 Million |
|
DRTECH Corporation
KQ:214680
|
$76.85 Million |
|
Able C&C
KO:078520
|
$76.87 Million |
|
Ching Feng Home Fashions Co Ltd
TW:9935
|
$76.88 Million |
|
Arqit Quantum Inc.
NASDAQ:ARQQ
|
$76.81 Million |
|
Ram Ratna Wires Limited
NSE:RAMRAT
|
$76.77 Million |
|
Petrus Resources Ltd
PINK:PTRUF
|
$76.75 Million |
|
Cita Mineral Investindo Tbk PT
JK:CITA
|
$76.72 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in NorAm Drilling AS's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2021 to 2022, total equity changed from 33,729,000 to 82,033,000, a change of 48,304,000 (143.2%).
- Net income of 2,978,000 contributed positively to equity growth.
- Dividend payments of 4,375,000 reduced retained earnings.
- New share issuances of 72,004,000 increased equity.
- Other factors decreased equity by 22,303,000.
Equity Change Factors (2021 to 2022)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | €2.98 Million | +3.63% |
| Dividends Paid | €4.38 Million | -5.33% |
| Share Issuances | €72.00 Million | +87.77% |
| Other Changes | €-22.30 Million | -27.19% |
| Total Change | €- | 143.21% |
Book Value vs Market Value Analysis
This analysis compares NorAm Drilling AS's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 2.11x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 2.95x to 2.11x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2019-12-31 | €1.36 | €4.02 | x |
| 2020-12-31 | €1.05 | €4.02 | x |
| 2021-12-31 | €0.78 | €4.02 | x |
| 2022-12-31 | €1.90 | €4.02 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently NorAm Drilling AS utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 3.63%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 3.12%
- • Asset Turnover: 0.82x
- • Equity Multiplier: 1.41x
- Recent ROE (3.63%) is above the historical average (-21.58%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2019 | -4.00% | -2.84% | 0.53x | 2.66x | €-8.21 Million |
| 2020 | -30.13% | -24.84% | 0.39x | 3.08x | €-18.09 Million |
| 2021 | -55.84% | -37.38% | 0.41x | 3.62x | €-22.21 Million |
| 2022 | 3.63% | 3.12% | 0.82x | 1.41x | €-5.23 Million |
Industry Comparison
This section compares NorAm Drilling AS's net assets metrics with peer companies in the Oil & Gas Equipment & Services industry.
Industry Context
- Industry: Oil & Gas Equipment & Services
- Average net assets among peers: $6,087,981,590
- Average return on equity (ROE) among peers: -20.73%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| NorAm Drilling AS (TM9) | €88.86 Million | -4.00% | 0.25x | $76.83 Million |
| Aker Solutions OL (1AKA) | $7.91 Billion | -19.47% | 2.39x | $1.62 Billion |
| Honghua Group Limited (4HB) | $4.96 Billion | 10.84% | 1.87x | $71.31 Million |
| Solaris Oilfield Infrastructure Inc (68S) | $409.66 Million | 12.70% | 0.23x | $2.44 Billion |
| Moreld ASA (C28) | $697.93 Million | -101.91% | 9.30x | $44.87 Million |
| China Oilfield Services Limited (CO9) | $42.26 Billion | 7.13% | 0.97x | $2.32 Billion |
| Dril-Quip Inc (DQU) | $1.25 Billion | 16.76% | 0.16x | $490.49 Million |
| FRANKS INTL N.V. EO -01 (FK2) | $1.03 Billion | -8.77% | 0.15x | $1.46 Billion |
| Viridien Société anonyme (GDG) | $1.12 Billion | 4.44% | 1.53x | $786.17 Million |
| Shengli Oil & Gas Pipe Holdings Limited (GSG) | $1.24 Billion | -11.15% | 0.94x | $23.09 Million |
| Dolfines SA (JPZ) | $3.46 Million | -117.87% | 1.65x | $10.52K |