Cash flow ADES Holding Company

Equities

2382

SA55SG6H5716

Oil & Gas Drilling

Market Closed - Saudi Arabian S.E. Other stock markets 08:20:00 2024-09-12 EDT			5-day change	1st Jan Change
19.58 ^SAR	-0.10%		-3.17%	-18.42%

09-12	JPMorgan Lifts Ades PT, Maintains Underweight Rating	MT
09-09	Saudi Arabia's Ades to Buy Two Jackup Rigs for $190 Million	MT

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Published financial data: ADES HOLDING COMPANY

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	478M	452M	1.51B	2.47B	4.33B
Total Revenues	478M	452M	1.51B	2.47B	4.33B
Cost of Goods Sold, Total	286M	278M	992M	1.6B	2.62B
Gross Profit	192M	174M	522M	865M	1.71B
Selling General & Admin Expenses, Total	48.88M	49.49M	175M	264M	413M
Provision for Bad Debts	-2.78M	2.56M	216M	237M	-
Stock-Based Compensation (IS)	11.34M	3.85M	71.94K	-	-
Other Operating Expenses	1.88M	923K	33.02M	30.08M	45.46M
Other Operating Expenses, Total	59.32M	56.82M	424M	530M	458M
Operating Income	132M	117M	97.86M	335M	1.25B
Interest Expense, Total	-54.31M	-59.09M	-186M	-276M	-711M
Interest And Investment Income	512K	802K	213K	19.19M	-
Net Interest Expenses	-53.8M	-58.28M	-186M	-257M	-711M
Other Non Operating Income (Expenses)	-7.17M	-9.27M	-1.96M	-23.1M	-6.28M
EBT, Excl. Unusual Items	71.48M	49.95M	-90.09M	54.5M	535M
Restructuring Charges	-8.49M	-3.25M	-	-	-
Merger & Related Restructuring Charges	-6.43M	-	-12.2M	-8.42M	-
Gain (Loss) On Sale Of Investments	-	-535K	-8.48M	-	-5.02M
Gain (Loss) On Sale Of Assets	-	-	-	-	-1.09M
Asset Writedown	-	-5.1M	-114M	-	-
Other Unusual Items	-15.69M	-10.09M	374M	422M	-
EBT, Incl. Unusual Items	40.87M	30.97M	149M	468M	529M
Income Tax Expense	9.34M	8.95M	34.63M	70.72M	77.3M
Earnings From Continuing Operations	31.53M	22.02M	114M	398M	452M
Net Income to Company	31.53M	22.02M	114M	398M	452M
Minority Interest	-2.9M	-2.4M	-6.62M	-7.17M	-9.98M
Net Income - (IS)	28.63M	19.62M	108M	390M	442M
Preferred Dividend and Other Adjustments	-	-	-	-	-
Net Income to Common Incl Extra Items	28.63M	19.62M	108M	390M	442M
Net Income to Common Excl. Extra Items	28.63M	19.62M	108M	390M	442M
Per Share Items
Net EPS - Basic	0.65	0.46	-	-	0.59
Basic EPS - Continuing Operations	0.65	0.46	-	-	0.59
Basic Weighted Average Shares Outstanding	43.78M	42.27M	-	-	753M
Net EPS - Diluted	0.65	0.46	-	-	0.59
Diluted EPS - Continuing Operations	0.65	0.46	-	-	0.59
Diluted Weighted Average Shares Outstanding	43.78M	42.27M	-	-	753M
Normalized Basic EPS	0.95	0.68	-	-	0.43
Normalized Diluted EPS	0.95	0.68	-	-	0.43
Payout Ratio	-	-	-	-	-
Supplemental Items
EBITDA	178M	175M	357M	704M	1.92B
EBITA	132M	117M	97.86M	335M	1.25B
EBIT	132M	117M	97.86M	335M	1.25B
EBITDAR	187M	184M	379M	756M	1.99B
Effective Tax Rate - (Ratio)	22.85	28.89	23.23	15.1	14.6
Current Foreign Taxes	-	-	-	-	-
Total Current Taxes	9.77M	9.18M	34.58M	25.05M	53.65M
Total Deferred Taxes	-435K	-232K	51.32K	45.68M	23.65M
Normalized Net Income	41.77M	28.82M	-62.92M	26.89M	325M
Interest Capitalized	-	-	-	-	181M
Interest on Long-Term Debt	21.97M	31.36M	62.88M	6.46M	28.15M
Non-Cash Pension Expense	4.9M	5.35M	1.57M	-1.03M	5.2M
Supplemental Operating Expense Items
General and Administrative Expenses	42.97M	43.45M	156M	242M	367M
Net Rental Expense, Total	9.21M	8.53M	21.4M	51.2M	66.58M
Imputed Operating Lease Interest Expense	6.07M	5.4M	9.3M	15.06M	43.33M
Imputed Operating Lease Depreciation	3.14M	3.14M	12.1M	36.14M	23.25M
Maintenance & Repair Expenses, Total	45.02M	34.88M	126M	243M	348M
Stock-Based Comp., Other (Total)	11.34M	3.85M	71.94K	-	-
Total Stock-Based Compensation	11.34M	3.85M	71.94K	-	-

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	120M	62.49M	233M	191M	432M
Total Cash And Short Term Investments	120M	62.49M	233M	191M	432M
Accounts Receivable, Total	178M	154M	434M	490M	1.23B
Other Receivables	14.15M	11.37M	34.28M	9.84M	5.1M
Total Receivables	192M	165M	469M	500M	1.24B
Inventory	44.82M	47.61M	148M	184M	332M
Prepaid Expenses	3.98M	5.83M	301M	644M	352M
Other Current Assets, Total	14.4M	8.78M	-	49.66M	-
Total Current Assets	375M	290M	1.15B	1.57B	2.36B
Gross Property Plant And Equipment	1.16B	1.24B	6.6B	14.14B	19.12B
Accumulated Depreciation	-147M	-211M	-1.17B	-1.56B	-2.33B
Net Property Plant And Equipment	1.01B	1.03B	5.42B	12.58B	16.79B
Long-term Investments	4.14M	3.16M	6.92M	32.42M	51.52M
Other Intangibles, Total	347K	335K	1.04M	553K	354K
Accounts Receivable Long-Term	38.95M	57.4M	106M	-	-
Deferred Tax Assets Long-Term	-	-	3.11M	-	-
Other Long-Term Assets, Total	2.86M	1.52M	1.8M	320M	221M
Total Assets	1.43B	1.38B	6.69B	14.5B	19.42B
Liabilities
Accounts Payable, Total	115M	84.97M	262M	743M	1.09B
Accrued Expenses, Total	51.7M	49.63M	158M	228M	313M
Short-term Borrowings	24.86M	12.91M	196M	170M	44.94M
Current Portion of Long-Term Debt	64.33M	83.05M	212M	805M	1.14B
Current Portion of Leases	8.79M	4.24M	18.45M	107M	156M
Current Income Taxes Payable	9.98M	9.49M	30.97M	10.49M	30.22M
Unearned Revenue Current, Total	-	-	-	-	288M
Other Current Liabilities	10.05M	10.73M	99.03M	97.41M	88.09M
Total Current Liabilities	284M	255M	977M	2.16B	3.15B
Long-Term Debt	642M	627M	3.64B	9.58B	9.17B
Long-Term Leases	13.32M	13.96M	38.41M	270M	487M
Unearned Revenue Non Current	11.75M	17.41M	26.73M	70.17M	580M
Pension & Other Post Retirement Benefits	16.38M	16.59M	83.15M	118M	199M
Deferred Tax Liability Non Current	-	-	-	44.04M	61.33M
Other Non Current Liabilities	10.99M	-	5.75M	4.68M	729K
Total Liabilities	979M	930M	4.77B	12.24B	13.65B
Common Stock, Total	43.79M	43.79M	-	1M	1.13B
Additional Paid In Capital	179M	179M	857M	857M	2.89B
Retained Earnings	226M	245M	1.05B	1.3B	1.72B
Treasury Stock	-3.5M	-24.99M	-	-	-33.87M
Comprehensive Income and Other	-1.33M	1.68M	-13.13M	61.77M	41.15M
Total Common Equity	443M	444M	1.89B	2.22B	5.75B
Minority Interest	9.39M	9.42M	29.53M	36.35M	28.67M
Total Equity	453M	454M	1.92B	2.26B	5.78B
Total Liabilities And Equity	1.43B	1.38B	6.69B	14.5B	19.42B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	43.49M	41.25M	-	-	1.1B
ECS Total Common Shares Outstanding	43.49M	41.25M	-	-	1.1B
Book Value / Share	10.19	10.77	-	-	5.25
Tangible Book Value	443M	444M	1.89B	2.22B	5.75B
Tangible Book Value Per Share	10.19	10.77	-	-	5.25
Total Debt	753M	741M	4.1B	10.93B	10.99B
Net Debt	634M	679M	3.87B	10.74B	10.56B
Debt Equivalent of Unfunded Proj. Benefit Obligation	-	-	83.15M	118M	199M
Debt Equivalent Oper. Leases	73.7M	68.27M	171M	410M	533M
Minority Interest, Total (Incl. Fin. Div)	9.39M	9.42M	29.53M	36.35M	28.67M
Equity Method Investments, Total	4.14M	3.16M	6.92M	5.98M	-
Account Code - Inventory Valuation	6	6	-	6	6
Inventories - Others	44.82M	47.61M	148M	184M	332M
Land - (BS)	-	-	58.48M	58.48M	58.48M
Buildings, Total	-	-	-	-	20.08M
Machinery, Total	45.44M	65.42M	329M	424M	534M
Full Time Employees	3.92K	3.5K	-	5.28K	-
Accumulated Allowance for Doubtful Accounts (Supple)	-	-	-	470M	470M
Order Backlog	1.3B	929M	6.7B	27.4B	-

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	28.63M	19.62M	108M	390M	442M
Depreciation & Amortization - CF	50.9M	62.63M	275M	403M	797M
Depreciation & Amortization, Total	50.9M	62.63M	275M	403M	797M
Amortization of Deferred Charges, Total - (CF)	27.69M	4.99M	24.75M	16M	29.29M
(Gain) Loss From Sale Of Asset	-	362K	-	-	1.09M
(Gain) Loss on Sale of Investments - (CF)	-	535K	8.48M	-	5.02M
Asset Writedown & Restructuring Costs	-	5.1M	114M	-	-
(Income) Loss On Equity Investments - (CF)	-775K	446K	115K	940K	960K
Stock-Based Compensation (CF)	11.34M	3.85M	71.94K	-	-
Provision and Write-off of Bad Debts	-2.78M	2.56M	216M	237M	-
Other Operating Activities, Total	59.74M	62.82M	-152M	-101M	790M
Change In Accounts Receivable	-38.54M	7.41M	-137M	-44.15M	-424M
Change In Inventories	-4.69M	-4.24M	3.54M	-37.12M	-148M
Change In Accounts Payable	69.3M	-2.08M	-87.85M	322M	34.56M
Change in Unearned Revenues	-	-	-	-	722M
Change in Other Net Operating Assets	-28.85M	1.45M	-55.99M	-39.86M	31.88M
Cash from Operations	172M	165M	317M	1.15B	2.28B
Capital Expenditure	-179M	-118M	-355M	-3.92B	-4.05B
Sale of Property, Plant, and Equipment	-	111K	-	-	21.76K
Cash Acquisitions	-76.24M	-	-1.11B	-2.53B	190M
Divestitures	4.62K	-	-	-	-
Sale (Purchase) of Intangible assets	-	-23.25K	-98.44K	-18.19K	-
Investment in Marketable and Equity Securities, Total	-1.18M	-	-	-	-
Other Investing Activities, Total	512K	802K	213K	19.19M	122M
Cash from Investing	-256M	-117M	-1.46B	-6.44B	-3.74B
Long-Term Debt Issued, Total	504M	67.38M	4.34B	6.57B	3.35B
Total Debt Issued	504M	67.38M	4.34B	6.57B	3.35B
Long-Term Debt Repaid, Total	-358M	-91.02M	-3.05B	-938M	-3.72B
Total Debt Repaid	-358M	-91.02M	-3.05B	-938M	-3.72B
Issuance of Common Stock	-	-	116M	-	3.13B
Repurchase of Common Stock	-3.5M	-21.49M	-	-	-
Common Dividends Paid	-	-	-	-	-
Common & Preferred Stock Dividends Paid	-	-	-	-	-
Other Financing Activities, Total	-70.05M	-60.7M	-256M	-379M	-876M
Cash from Financing	72.98M	-106M	1.15B	5.25B	1.89B
Net Change in Cash	-11.27M	-57.11M	-1.47M	-42.03M	432M
Supplemental Items
Cash Interest Paid	56.27M	58.33M	247M	373M	-
Cash Income Tax Paid (Refund)	2.84M	9.66M	39.21M	46.87M	26.88M
Levered Free Cash Flow	28.97M	-13.67M	-221M	-3.4B	-2.7B
Unlevered Free Cash Flow	35.34M	18.41M	-129M	-3.24B	-2.28B
Change In Net Working Capital	-69.52M	3.99M	111M	-68.31M	-187M
Net Debt Issued / Repaid	147M	-23.64M	1.29B	5.63B	-367M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	6.58	5.22	1.03	1.97	4.62
Return on Total Capital	7.55	6.12	1.17	2.18	5.23
Return On Equity %	7.21	4.86	6.31	19.02	11.25
Return on Common Equity	6.69	4.42	6.06	18.97	11.09
Margin Analysis
Gross Profit Margin %	40.14	38.56	34.47	35.07	39.5
SG&A Margin	10.23	10.95	11.56	10.69	9.53
EBITDA Margin %	37.26	38.72	23.61	28.55	44.29
EBITA Margin %	27.72	25.99	6.46	13.57	28.92
EBIT Margin %	27.72	25.99	6.46	13.57	28.92
Income From Continuing Operations Margin %	6.6	4.87	7.56	16.12	10.44
Net Income Margin %	5.99	4.34	7.12	15.83	10.21
Net Avail. For Common Margin %	5.99	4.34	7.12	15.83	10.21
Normalized Net Income Margin	8.74	6.37	-4.16	1.09	7.5
Levered Free Cash Flow Margin	6.06	-3.02	-14.61	-137.79	-62.24
Unlevered Free Cash Flow Margin	7.4	4.07	-8.53	-131.42	-52.65
Asset Turnover
Asset Turnover	0.38	0.32	0.25	0.23	0.26
Fixed Assets Turnover	0.55	0.44	0.33	0.27	0.29
Receivables Turnover (Average Receivables)	2.8	2.73	3.69	5.34	5.02
Inventory Turnover (Average Inventory)	7.38	6.01	6.07	9.63	10.15
Short Term Liquidity
Current Ratio	1.32	1.14	1.18	0.73	0.75
Quick Ratio