Precision Historical Income Statement
| PD Stock | CAD 88.74 0.98 1.12% |
Historical analysis of Precision Drilling income statement accounts such as Gross Profit of 770 M, Other Operating Expenses of 1.3 B, Operating Income of 641.7 M or Ebit of 368.1 M can show how well Precision Drilling performed in making a profits. Evaluating Precision Drilling income statement over time to spot trends is a great complementary tool to traditional technical analysis and can indicate the direction of Precision Drilling's future profits or losses.
Financial Statement Analysis is much more than just reviewing and examining Precision Drilling latest accounting reports to predict its past. Macroaxis encourages investors to analyze financial statements over time for various trends across multiple indicators and accounts to determine whether Precision Drilling is a good buy for the upcoming year.
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About Precision Income Statement Analysis
Precision Drilling Income Statement consists of revenues and expenses along with the resulting net income or loss. It represents the profit for the accounting period attributable to Precision Drilling shareholders. The income statement also shows Precision investors and management if the firm made money during the period reported. The result of an income statement is the net income that is calculated after subtracting the expenses from revenue. It is essential to investors both as an absolute measure as well as earnings per share (i.e., EPS).
Precision Drilling Income Statement Chart
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Total Revenue
Total revenue comprises all receipts Precision Drilling generated from the sale of its products or services. The total amount of income generated by the sale of goods or services related to the company's primary operations.Other Operating Expenses
Other Operating Expenses is the expense which generally does not depend on sales or production quantities of Precision Drilling. It is also known as Precision Drilling overhead expenses. Typically these expenses include marketing, rent and utilities, office, leases, and other overhead cost. Expenses incurred from non-core business activities, including administrative and general expenses, but excluding costs directly related to production.Most accounts from Precision Drilling's income statement are interrelated and interconnected. However, analyzing income statement accounts one by one will only give a small insight into Precision Drilling current financial condition. On the other hand, looking into the entire matrix of income statement accounts, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Precision Drilling. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate. To learn how to invest in Precision Stock, please use our How to Invest in Precision Drilling guide.At this time, Precision Drilling's Net Income is very stable compared to the past year. As of the 1st of December 2024, Net Income From Continuing Ops is likely to grow to about 303.7 M, while Depreciation And Amortization is likely to drop about 234.3 M.
| 2021 | 2022 | 2023 | 2024 (projected) | Interest Expense | 91.4M | 87.8M | 84.8M | 118.0M | Depreciation And Amortization | 282.3M | 279.0M | 307.1M | 234.3M |
Precision Drilling income statement Correlations
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Precision Drilling Account Relationship Matchups
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High Negative Relationship
Precision Drilling income statement Accounts
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
| Depreciation And Amortization | 333.6M | 316.3M | 282.3M | 279.0M | 307.1M | 234.3M | |
| Interest Expense | 118.5M | 107.5M | 91.4M | 87.8M | 84.8M | 118.0M | |
| Selling General Administrative | 104.0M | 70.9M | 95.9M | 181.0M | 122.2M | 112.5M | |
| Total Revenue | 1.5B | 935.8M | 986.8M | 1.6B | 1.9B | 1.5B | |
| Gross Profit | 168.7M | 36.0M | 6.4M | 213.6M | 733.3M | 770.0M | |
| Other Operating Expenses | 1.5B | 970.6M | 1.1B | 1.6B | 1.3B | 1.3B | |
| Operating Income | 44.5M | (34.9M) | (89.6M) | 32.6M | 611.1M | 641.7M | |
| Ebit | 44.5M | (7.2M) | (91.1M) | 32.6M | 350.6M | 368.1M | |
| Ebitda | 378.1M | 309.1M | 191.2M | 311.6M | 657.7M | 402.7M | |
| Cost Of Revenue | 1.4B | 899.7M | 980.5M | 1.4B | 1.2B | 1.1B | |
| Total Operating Expenses | 124.3M | 70.9M | 95.9M | 181.0M | 122.2M | 151.8M | |
| Income Before Tax | (8.3M) | (109.2M) | (182.8M) | (14.1M) | 265.8M | 279.1M | |
| Total Other Income Expense Net | (52.8M) | (109.2M) | (182.8M) | (46.7M) | (345.3M) | (328.1M) | |
| Net Income | 6.6M | (120.1M) | (177.4M) | (34.3M) | 289.2M | 303.7M | |
| Income Tax Expense | (15.0M) | 11.0M | (5.4M) | 20.2M | (23.5M) | (22.3M) | |
| Net Income From Continuing Ops | 6.6M | (120.1M) | (177.4M) | (34.3M) | 289.2M | 303.7M | |
| Net Income Applicable To Common Shares | 6.6M | (120.1M) | (177.4M) | (34.3M) | (30.9M) | (32.4M) | |
| Tax Provision | (15.0M) | 11.0M | (5.4M) | 20.2M | (23.5M) | (24.6M) | |
| Interest Income | 109.7M | 112.0M | 92.2M | 75.7M | 1.4M | 1.3M | |
| Net Interest Income | (118.5M) | (107.5M) | (91.4M) | (87.8M) | (83.4M) | (87.6M) | |
| Reconciled Depreciation | 333.6M | 316.3M | 282.3M | 279.0M | 297.6M | 257.4M |
Pair Trading with Precision Drilling
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Precision Drilling position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Precision Drilling will appreciate offsetting losses from the drop in the long position's value.Moving against Precision Stock
| 0.52 | ENB-PFU | Enbridge Pref L | PairCorr |
| 0.5 | GPV | GreenPower Motor | PairCorr |
| 0.5 | VGZ | Vista Gold | PairCorr |
| 0.36 | ENB-PFV | Enbridge Pref 5 | PairCorr |
The ability to find closely correlated positions to Precision Drilling could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Precision Drilling when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Precision Drilling - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Precision Drilling to buy it.
The correlation of Precision Drilling is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Precision Drilling moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Precision Drilling moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Precision Drilling can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Precision Drilling. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate. To learn how to invest in Precision Stock, please use our How to Invest in Precision Drilling guide.You can also try the Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..