← National Energy Services Reunited Corp.
| Annual Trend | FY 2016 | FY 2017 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | |||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
| Net Income From Continuing Operations | — | — | — | — | ($64.6m) | ($36.4m) | $12.6m | $76.3m | $51.1m | $64.6m | |
| Profit or Loss | — | — | $39.4m | $50.1m | ($64.6m) | ($36.4m) | $12.6m | $76.3m | — | — | |
| Amortization | — | — | — | — | $18.0m | $18.9m | $18.8m | $18.8m | $18.8m | — | |
| Depreciation | — | — | — | — | $104.1m | $97.0m | $109.7m | $111.7m | $118.5m | $139.5m | |
| Depreciation Expense | — | — | $88.1m | $120.8m | $122.1m | $115.8m | $142.2m | $142.8m | — | $139.5m | |
| Depreciation, Depletion and Amortization | — | — | — | — | $122.1m | $115.8m | $142.2m | $142.8m | $141.7m | $139.5m | |
| Depreciation Amortization Depletion | — | — | — | — | — | $115.8m | $142.2m | $142.8m | $141.7m | $139.5m | |
| Deferred Income Tax Expense (Benefit) | — | — | — | — | ($12.1m) | ($10.3m) | ($3.8m) | ($2.7m) | ($5.2m) | ($2.8m) | |
| Deferred Tax | — | — | — | — | — | ($10.3m) | ($3.8m) | ($2.7m) | ($5.2m) | ($2.8m) | |
| Share-based Payment Arrangement, Expense | — | — | — | — | $9.8m | $9.3m | $6.8m | $6.0m | $8.3m | $9.0m | |
| Share-based Payment Arrangement, Noncash Expense | — | — | — | — | $9.8m | $9.3m | $6.8m | $6.0m | $8.3m | $9.0m | |
| Share-based compensation expense | — | — | $5.7m | $7.8m | $9.8m | $9.3m | $6.8m | $6.0m | — | $9.0m | |
| Equity Method Investment, Other than Temporary Impairment | — | — | — | — | — | — | — | — | $5.1m | — | |
| Asset Impairment Charge | — | — | — | — | — | $0 | $7.9m | $5.3m | $9.6m | $8.4m | |
| Changes in operating assets and liabilities: | |||||||||||
| Change In Working Capital | — | — | — | — | — | $1.2m | $7.7m | ($9.2m) | $48.2m | $45.1m | |
| Increase (Decrease) in Accounts Receivable | — | — | ($39.2m) | ($3.4m) | $8.3m | $29.3m | $23.0m | ($25.2m) | $49.5m | ($113.6m) | |
| Change In Receivables | — | — | — | — | — | ($31.0m) | ($8.8m) | $9.4m | ($58.9m) | ($113.6m) | |
| Changes In Account Receivables | — | — | — | — | — | ($29.3m) | ($23.0m) | $25.2m | ($49.5m) | ($113.6m) | |
| Increase (Decrease) in Inventories | — | — | ($21.3m) | ($12.5m) | $3.2m | $16.8m | ($12.0m) | $633k | ($425k) | $3.8m | |
| Inventory Write-down | — | — | — | — | $3.6m | $100k | $137k | $2.3m | $1.5m | — | |
| Change In Inventory | — | — | — | — | — | ($16.8m) | $12.0m | ($633k) | $425k | $3.8m | |
| Change in Accounts Payable | — | — | $19.4m | $55.3m | $31.2m | $33.7m | ($3.4m) | ($38.5m) | — | — | |
| Change In Payables And Accrued Expense | — | — | — | — | — | $33.7m | ($3.4m) | ($38.5m) | $116.2m | $162.5m | |
| (Increase) decrease in other current assets | — | — | $585k | $1.8m | ($16.7m) | ($13.7m) | $2.8m | $5.0m | — | — | |
| Increase (decrease) in other current liabilities | — | — | ($8.4m) | $2.0m | ($260k) | $9.9m | $11.9m | $6.1m | — | — | |
| Change In Other Current Assets | — | — | — | — | — | ($799k) | $4.9m | $15.4m | ($5.3m) | ($8.2m) | |
| Change In Other Current Liabilities | — | — | — | — | — | $9.9m | $11.9m | $6.1m | ($1.0m) | $949k | |
| Other Operating Income (Expense), Net | — | — | — | — | ($2.1m) | $5.2m | ($5.0m) | ($2.3m) | ($5.4m) | — | |
| Net Cash Provided by (Used in) Operating Activities | — | — | $89.1m |
$133.5m
+49.81%
|
$127.7m
-4.29%
|
$92.6m
-27.53%
|
$177.0m
+91.15%
|
$229.3m
+29.59%
|
$264.2m
+15.22%
|
$274.5m
+3.88%
|
|
| Cash flows from investing activities: | |||||||||||
| Capital expenditures | — | — | ($107.9m) | ($90.3m) | ($107.1m) | ($122.4m) | ($68.2m) | ($105.1m) | ($143.5m) | ($149.3m) | |
| Payments on seller-provided financing for capital expenditures | — | — | — | ($3.8m) | ($15.3m) | ($14.4m) | ($15.6m) | ($3.8m) | — | — | |
| Capital Expenditure Reported | — | — | — | — | — | ($122.4m) | ($68.2m) | ($105.1m) | ($143.5m) | ($149.3m) | |
| IPM investments (Note 3) | — | — | — | — | — | ($17.4m) | ($16.0m) | — | — | — | |
| Marketable Securities, Unrealized Gain (Loss) | — | — | — | — | — | — | — | — | — | — | |
| Payments to Acquire Investments | — | — | — | — | — | $17.4m | $16.0m | — | — | $0 | |
| Payments to Acquire Businesses, Net of Cash Acquired | — | — | — | — | $51.9m | — | — | — | — | $0 | |
| Other investing activities | — | — | ($1.0m) | ($574k) | ($8.3m) | ($7.6m) | ($1.0m) | ($9.1m) | — | — | |
| Payments for (Proceeds from) Other Investing Activities | — | — | — | — | $8.3m | $7.6m | $1.0m | $9.1m | $13.7m | — | |
| Net Other Investing Changes | — | — | — | — | — | ($6.9m) | $758k | ($6.0m) | ($8.8m) | ($7.9m) | |
| Net Cash Provided by (Used in) Investing Activities | — | — | ($107.3m) | ($103.6m) | ($164.5m) | ($146.7m) | ($83.5m) | ($111.1m) | ($152.2m) | ($157.2m) | |
| Cash flows from financing activities: | |||||||||||
| Repayments of short-term borrowings | — | — | ($57.0m) | ($27.4m) | ($79.0m) | ($119.2m) | ($137.4m) | ($72.6m) | — | — | |
| Proceeds from Debt Issuance | — | — | $49.3m | $33.8m | $123.8m | $139.5m | $94.5m | $83.4m | — | — | |
| Proceeds from Issuance of Long-term Debt | — | — | — | — | $527.5m | $3.2m | $11.3m | $4.1m | — | $0 | |
| Issuance Of Debt | — | — | — | — | — | $142.7m | $105.8m | $87.5m | $98.6m | $0 | |
| Long Term Debt Issuance | — | — | — | — | — | $3.2m | $11.3m | $4.1m | $0 | $0 | |
| Net Issuance Payments Of Debt | — | — | — | — | — | ($58.4m) | ($88.8m) | ($74.1m) | ($78.3m) | ($84.6m) | |
| Net Long Term Debt Issuance | — | — | — | — | — | ($78.7m) | ($45.9m) | ($84.9m) | ($72.6m) | ($71.5m) | |
| Net Short Term Debt Issuance | — | — | — | — | — | $20.3m | ($42.9m) | $10.8m | ($5.6m) | ($13.1m) | |
| Short Term Debt Issuance | — | — | — | — | — | $139.5m | $94.5m | $83.4m | $98.6m | $91.3m | |
| Repayments of Long-term Debt | — | — | ($285.0m) | ($26.0m) | $360.0m | $78.8m | $54.8m | $85.8m | $68.7m | ($71.5m) | |
| Long Term Debt Payments | — | — | — | — | — | ($81.9m) | ($57.2m) | ($89.0m) | ($72.6m) | ($71.5m) | |
| Repayment Of Debt | — | — | — | — | — | ($201.0m) | ($194.6m) | ($161.6m) | ($176.8m) | ($71.5m) | |
| Short Term Debt Payments | — | — | — | — | — | ($119.2m) | ($137.4m) | ($72.6m) | ($104.2m) | ($104.4m) | |
| Proceeds from Issuance of Common Stock | — | — | — | — | — | — | — | — | — | — | |
| Proceeds from (Payments for) Other Financing Activities | — | — | — | — | ($8.1m) | — | ($197k) | ($163k) | ($1.6m) | — | |
| Net Other Financing Charges | — | — | — | — | — | ($14.4m) | ($15.8m) | ($3.9m) | ($9.0m) | ($9.7m) | |
| Net Cash from Financing Activities | — | — | ($5.7m) | — | ($8.1m) | — | ($197k) |
($163k)
+17.26%
|
— | — | |
| Net Cash Provided by (Used in) Financing Activities | — | — | $66.6m |
($28.1m)
-142.16%
|
$167.5m
+696.94%
|
($72.8m)
-143.45%
|
($104.5m)
-43.59%
|
($78.1m)
+25.32%
|
($87.3m)
-11.79%
|
($94.3m)
-8.07%
|
|
| Net increase (decrease) in cash | — | — | $48.3m | $1.8m | $130.8m | ($126.9m) | ($11.0m) | $40.1m | — | — | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | — | — | — | — | $130.8m | ($126.9m) | ($11.0m) | $40.1m | $24.7m | $101.7m | |
| Beginning Cash Position | — | — | — | — | — | $205.8m | $78.9m | $67.8m | $108.0m | $78.7m | |
| Cash and cash equivalents, beginning of period | — | — | $73.2m | $75.0m | $205.8m | $78.9m | $67.8m | $108.0m | — | — | |
| Effect of Exchange Rate on Cash | — | — | ($19k) | $35k | $9k | $8k | — | — | — | $0 | |
| Effect Of Exchange Rate Changes | — | — | — | — | — | $8k | $0 | $0 | $0 | $0 | |
| Additional Supplementary Disclosures | |||||||||||
| Additional Supplementary Disclosures | |||||||||||
| Gain (Loss) on Disposition of Assets | — | — | — | — | ($333k) | $60k | ($487k) | ($467k) | $3.6m | — | |
| Income Tax Expense | — | — | $19.2m | $15.6m | $12.8m | $11.0m | $15.2m | $12.9m | $27.5m | — | |
| Income Tax Expense (Benefit) | — | — | — | — | $4.0m | $6.6m | $17.3m | $19.2m | $9.3m | — | |
| Interest Expense | — | — | $17.3m | $12.7m | $9.9m | $19.2m | $33.9m | $38.3m | — | — | |
| Non-cash interest (income) expense | — | — | $1.9m | ($271k) | $3.0m | $8.1m | $1.5m | ($1.2m) | — | — | |
| Additional Financial Items | |||||||||||
| (Increase) decrease in other long-term assets and liabilities | — | — | $8.6m | ($5.0m) | $8.9m | $6.1m | $16.3m | ($7.0m) | — | — | |
| (Increase) decrease in prepaid expenses | — | — | ($2.6m) | ($1.2m) | ($884k) | $6.2m | ($8.9m) | ($909k) | — | — | |
| (Increase) decrease in retention withholdings | — | — | ($19.0m) | $6.4m | ($4.0m) | $6.8m | ($14.2m) | $17.3m | — | — | |
| (Increase) decrease in unbilled revenue | — | — | $19.2m | ($76.0m) | $56.1m | ($1.7m) | $14.2m | ($15.7m) | — | — | |
| Cash Flow From Continuing Operating Activities | — | — | — | — | $127.7m | $92.6m | $177.0m | $229.3m | $264.2m | $274.5m | |
| Goodwill | — | — | — | — | $645.1m | $645.1m | $645.1m | $645.1m | $645.1m | $8.4m | |
| Loss (Gain) on disposal of assets | — | — | ($1.7m) | $96k | $333k | ($60k) | $487k | $467k | — | — | |
| Operating Cash Flow | — | ($865k) | — | — | $127.7m |
$92.6m
-27.53%
|
$177.0m
+91.15%
|
$229.3m
+29.59%
|
$264.2m
+15.22%
|
$274.5m
+3.88%
|
|
| Operating Costs and Expenses | — | — | — | — | — | — | — | — | — | — | |
| Payments on capital leases | — | — | — | ($19.6m) | ($21.4m) | ($3.1m) | ($2.4m) | ($3.2m) | — | — | |
| Proceeds from Sale of PP&E | — | — | $1.6m | $487k | $2.8m | $626k | $1.8m | $3.1m | — | — | |
| Provision for Doubtful Accounts (CF) | — | — | — | — | — | $8.2m | $410k | $8.8m | — | — | |
| Restructuring Expense | — | — | — | $1.1m | $3.6m | $100k | $7.9m | $5.3m | — | — | |
| Cash Flow From Continuing Financing Activities | — | — | — | — | — | ($72.8m) | ($104.5m) | ($78.1m) | ($87.3m) | ($94.3m) | |
| Cash Flow From Continuing Investing Activities | — | — | — | — | — | ($146.7m) | ($83.5m) | ($111.1m) | ($152.2m) | ($157.2m) | |
| Change In Prepaid Assets | — | — | — | — | — | $6.2m | ($8.9m) | ($909k) | ($3.1m) | ($306k) | |
| Changes In Cash | — | — | — | — | — | ($126.9m) | ($11.0m) | $40.1m | $24.7m | $23.0m | |
| End Cash Position | — | — | — | — | — | $78.9m | $67.8m | $108.0m | $132.7m | $101.7m | |
| Financing Cash Flow | — | — | — | — | — | ($72.8m) |
($104.5m)
-43.59%
|
($78.1m)
+25.32%
|
($87.3m)
-11.79%
|
($94.3m)
-8.07%
|
|
| Free Cash Flow | — | — | — | — | — | ($29.8m) | $108.8m | $124.2m | $120.8m | $125.2m | |
| Investing Cash Flow | — | — | — | — | — | ($146.7m) | ($83.5m) | ($111.1m) | ($152.2m) | ($157.2m) | |
| Net Business Purchase And Sale | — | — | — | — | ($51.9m) | $0 | $0 | — | — | $0 | |
| Operating Gains Losses | — | — | — | — | — | ($60k) | $487k | $467k | ($3.6m) | ($3.6m) | |
| Other Non Cash Items | — | — | — | — | — | $4.8m | $2.6m | $1.4m | $5.3m | — | |
| Provisionand Write Offof Assets | — | — | — | — | — | $8.2m | $410k | $8.8m | $8.7m | $9.2m | |
| Purchase Of Business | — | — | — | — | ($51.9m) | $0 | $0 | — | — | $0 | |
| Stock Based Compensation | — | — | — | — | — | $9.3m | $6.8m | $6.0m | $8.3m | $9.0m | |
| Net Investment Purchase And Sale | — | — | — | — | — | ($17.4m) | ($16.0m) | $0 | $0 | $0 | |
| Purchase Of Investment | — | — | — | — | $0 | ($17.4m) | ($16.0m) | $0 | — | $0 | |
| Supplemental disclosure of cash flow information: | |||||||||||
| Change In Cash Supplemental As Reported | — | — | — | — | — | ($126.9m) | ($11.0m) | $40.1m | $24.7m | — | |
| Interest Paid, Excluding Capitalized Interest, Operating Activities | — | — | — | — | $9.9m | $19.2m | $33.9m | $38.3m | $28.5m | — |