Independence Contract Drilling, Inc.
Independence Contract Drilling, Inc. provides land-based contract drilling services for oil and natural gas producers in the United States. It operates a fleet of pad-optimal and superspec AC powered rigs in the Permian Basin and the Haynesville Shale. The company was incorporated in 2011 and is headquartered in Houston, Texas. On December 2, 2024, Independence Contract Drilling, Inc., along with… Read more
Independence Contract Drilling, Inc. (ICDI) - Total Assets
Latest total assets as of September 2024: $356.85 Million USD
Based on the latest financial reports, Independence Contract Drilling, Inc. (ICDI) holds total assets worth $356.85 Million USD as of September 2024.
Total assets represent everything the company owns and controls, combining both current assets—like cash and cash equivalents, accounts receivable, and inventories—and non-current assets such as property, plant, equipment (PP&E), intangible assets, and long-term investments.
Independence Contract Drilling, Inc. - Total Assets Trend (2020–2023)
This chart illustrates how Independence Contract Drilling, Inc.’s total assets have evolved over time, based on quarterly financial data. Explore and compare other companies by total assets.
Independence Contract Drilling, Inc. - Asset Composition Analysis
Current Asset Composition (December 2023)
Independence Contract Drilling, Inc.'s total assets of $356.85 Million consist of 11.0% current assets and 89.0% non-current assets.
| Asset Category | Amount (USD) | % of Total Assets |
|---|---|---|
| Cash & Equivalents | $0.00 | 1.4% |
| Accounts Receivable | $31.70 Million | 8.0% |
| Inventory | $1.56 Million | 0.4% |
| Property, Plant & Equipment | $0.00 | 0.0% |
| Intangible Assets | $0.00 | 0.0% |
| Goodwill | $0.00 | 0.0% |
Asset Composition Trend (2020–2023)
This chart illustrates how Independence Contract Drilling, Inc.'s asset composition has evolved over time. Understanding changes in asset allocation can provide insights into the company's strategic shifts, capital allocation priorities, and business focus evolution.
Key Asset Composition Facts
- Current vs. Non-Current Assets: Independence Contract Drilling, Inc.'s current assets represent 11.0% of total assets in 2023, an increase from 6.6% in 2020.
- Cash Position: Cash and equivalents constituted 1.4% of total assets in 2023, down from 3.0% in 2020.
- Tangible vs. Intangible: Intangible assets (including goodwill) make up 0.0% of total assets, unchanged from 0.0% in 2020.
- Asset Diversification: The largest asset category is accounts receivable at 8.0% of total assets.
Independence Contract Drilling, Inc. Competitors by Total Assets
Key competitors of Independence Contract Drilling, Inc. based on total assets are shown below.
| Company | Country | Total Assets |
|---|---|---|
|
Aban Offshore Limited
NSE:ABAN
|
India | ₹16.43 Billion |
|
XinJiang Beiken Energy Engineering Stock Co Ltd
SHE:002828
|
China | CN¥1.85 Billion |
|
Daldrup & Söhne Aktiengesellschaft
F:4DS
|
Germany | €37.46 Million |
|
Velesto Energy Bhd
KLSE:5243
|
Malaysia | RM2.85 Billion |
|
ARCHER
F:8SW
|
Germany | €1.07 Billion |
|
ACT Energy Technologies Ltd.
TO:ACX
|
Canada | CA$458.00 Million |
|
Agri-Dynamics Inc
PINK:AGDY
|
USA | $144.28K |
|
AKITA Drilling Ltd
PINK:AKTAF
|
USA | $258.01 Million |
Independence Contract Drilling, Inc. - Asset Efficiency Metrics
Asset efficiency metrics measure how effectively a company uses its assets to generate revenue and profits. These indicators help investors evaluate management's ability to deploy capital efficiently.
Asset Turnover Ratio
Measures how efficiently a company uses its assets to generate sales
Moderate asset utilization - Independence Contract Drilling, Inc. generates 0.53x its asset value in annual revenue.
Return on Assets (ROA)
Measures how efficiently a company uses its assets to generate profits
Negative ROA - Independence Contract Drilling, Inc. is currently not profitable relative to its asset base.
Independence Contract Drilling, Inc. - Liquidity and Working Capital Analysis
Liquidity ratios measure a company's ability to pay off its short-term debts as they come due, using the company's current or quick assets. Working capital represents the operational liquidity available.
Key Liquidity Metrics
| Metric | Current | 1 Year Ago | 5 Years Ago |
|---|---|---|---|
| Current Ratio | 0.76 | 1.19 | 1.39 |
| Quick Ratio | 0.73 | 1.13 | 1.34 |
| Cash Ratio | 0.00 | 0.00 | 0.00 |
| Working Capital | $-9.49 Million | $ 5.84 Million | $ 12.43 Million |
Independence Contract Drilling, Inc. - Advanced Valuation Insights
This section examines the relationship between Independence Contract Drilling, Inc.'s asset base and its market valuation, helping to identify whether the company's assets are efficiently translated into market value.
Key Valuation Metrics
| Current Price-to-Book Ratio | 0.00 |
| Latest Market Cap to Assets Ratio | 0.00 |
| Asset Growth Rate (YoY) | -8.2% |
| Total Assets | $394.68 Million |
| Market Capitalization | $243.23 USD |
Valuation Analysis
Below Book Valuation: The market values Independence Contract Drilling, Inc.'s assets below their book value (0.00 x), which may indicate investor concerns about asset quality or future growth.
Significant Asset Reduction: Independence Contract Drilling, Inc.'s assets decreased by 8.2% over the past year, potentially indicating divestiture, restructuring, or challenging business conditions.
Annual Total Assets for Independence Contract Drilling, Inc. (2020–2023)
The table below shows the annual total assets of Independence Contract Drilling, Inc. from 2020 to 2023.
| Year | Total Assets | Change |
|---|---|---|
| 2023-12-31 | $394.68 Million | -8.15% |
| 2022-12-31 | $429.71 Million | +8.21% |
| 2021-12-31 | $397.10 Million | -3.90% |
| 2020-12-31 | $413.21 Million | -- |