Vantage Drilling Intl (VTDRF) Financials
Newest figures come from the filing for Q2 FY2023, filed Aug 10, 2023. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the VTDRF SEC filings page.
Vantage Drilling Intl Ltd (VTDRF) reported $332.1M in revenue over the twelve months to Jun 30, 2023, up 41.8% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 9 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings.
FY2022 recovery restored operating profit, but cash generation and current-liability growth show the business remains financially uneven.
Revenue increased75.9% , while cost of revenue increased55.9% ; that spread points to improved gross economics rather than growth purchased entirely through proportional costs. SG&A rose only12.0% , yet operating income turned positive in FY2022 after being negative in FY2021, pointing to fixed-cost absorption as activity recovered.
Operating income was
Long-term debt fell
Financial Health Signals
We do not publish a peer-relative financial health score for Vantage Drilling Intl Ltd, because the score only covers companies whose filings and listing give us what it needs to compare them with their peers. The signals and metrics below are current.
Vantage Drilling Intl Ltd passes 4 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
Vantage Drilling Intl Ltd reported a net loss of $3.4M while operations used $18.9M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Vantage Drilling Intl Ltd earns $1.10 in operating income for every $1 of interest expense ($37.9M vs $34.4M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Vantage Drilling Intl Ltd generated $107.8M in revenue in Q2 2023. This represents an increase of 47.2% from the same quarter a year earlier. Against the prior quarter it is up 39.9%.
Vantage Drilling Intl Ltd's EBITDA was $28.3M in Q2 2023, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 58.2% from the same quarter a year earlier. Against the prior quarter it is up 397.9%.
Vantage Drilling Intl Ltd reported $1.5M in net income in Q2 2023. This represents a decrease of 97.0% from the same quarter a year earlier. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Vantage Drilling Intl Ltd earned $0.11 per diluted share (EPS) in Q2 2023. This represents a decrease of 97.0% from the same quarter a year earlier. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Cash & Balance Sheet
Vantage Drilling Intl Ltd held $79.7M in cash against $188.9M in long-term debt as of Q2 2023.
Not reported for Q2 2023.
Not reported for Q2 2023.
Margins & Returns
Vantage Drilling Intl Ltd's gross margin was 31.0% in Q2 2023, indicating the percentage of revenue retained after direct costs. This is up 12.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 17.4 percentage points.
Vantage Drilling Intl Ltd's operating margin was 16.0% in Q2 2023, reflecting core business profitability. This is down 61.3 percentage points from the same quarter a year earlier. Against the prior quarter it is up 23.0 percentage points.
Vantage Drilling Intl Ltd's net profit margin was 1.4% in Q2 2023, showing the share of revenue converted to profit. This is down 64.3 percentage points from the same quarter a year earlier. Against the prior quarter it is up 4.3 percentage points.
Vantage Drilling Intl Ltd's quarterly ROE was 0.6% in Q2 2023: one quarter's net income over shareholder equity, not annualized. This is down 15.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.4 percentage points.
Capital Allocation
None of these metrics is reported for Q2 2023.
VTDRF Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'23Filing | Q1'23Filing | Q4'22Filing | Q3'22Filing | Q2'22Filing | Q1'22Filing | Q4'21Filing | Q3'21Filing |
|---|---|---|---|---|---|---|---|---|
| Revenue | $107.8M+47.2% | $77.1M+32.1% | $76.2M+53.0% | $71.0M+34.3% | $73.2M+105.7% | $58.3M+189.3% | $49.8M+170.4% | $52.9M+161.5% |
| Cost of Revenue | $74.4M+25.2% | $66.6M+51.5% | $65.1M+48.3% | $66.4M+46.4% | $59.4M+64.8% | $43.9M+73.3% | $43.9M | $45.4M+66.6% |
| Gross Profit | $33.5M+141.9% | $10.5M-27.0% | $11.1M+88.0% | $4.5M-39.5% | $13.8Mn/m | $14.4Mn/m | $5.9M | $7.5Mn/m |
| SG&A Expenses | $5.2M-25.3% | $4.8M-26.6% | $5.3M-4.0% | $4.3M-7.4% | $6.9M+39.1% | $6.6M+19.8% | $5.5M | $4.6M+20.0% |
| Operating Income | $17.3M-69.5% | -$5.4Mn/m | -$5.2Mn/m | -$10.1Mn/m | $56.6Mn/m | -$3.5Mn/m | -$13.4Mn/m | -$11.2Mn/m |
| EBITDA | $28.3M-58.2% | $5.7M-27.3% | $5.9M+1255.6% | $908K-68.6% | $67.7Mn/m | $7.8Mn/m | $432Kn/m | $2.9Mn/m |
| Interest Expense | $5.3M-37.1% | $5.6M-34.6% | $8.8M+3.9% | $8.5M0.0% | $8.5M-0.1% | $8.5M-0.1% | $8.5M | $8.5M0.0% |
| Income Tax | $10.6Mn/m | -$8.0M-654.8% | $2.5M+83.6% | $1.6M+77.8% | -$1.2M-269.6% | $1.4M-33.5% | $1.4M | $881K-69.1% |
| Net Income | $1.5M-97.0% | -$2.3Mn/m | -$16.4Mn/m | -$20.2Mn/m | $48.1Mn/m | -$14.9Mn/m | -$23.5Mn/m | -$21.7Mn/m |
| EPS (Basic) | $0.11-97.0% | -$0.17n/m | -$1.25n/m | -$1.54n/m | $3.67n/m | -$1.14n/m | -$1.79n/m | -$1.66n/m |
| EPS (Diluted) | $0.11-97.0% | -$0.17n/m | -$1.24n/m | -$1.54n/m | $3.61n/m | -$1.14n/m | -$1.79n/m | -$1.66n/m |
Not reported in any period shown, so not listed: R&D Expenses, Diluted Shares (Avg).
VTDRF Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'23Filing | Q1'23Filing | Q4'22Filing | Q3'22Filing | Q2'22Filing | Q1'22Filing | Q4'21Filing | Q3'21Filing |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $580.6M-23.0% | $604.7M-16.0% | $578.6M-17.3% | $750.5M+4.4% | $754.3M+3.2% | $719.9M-5.7% | $699.4M-11.0% | $718.8M-14.0% |
| Current Assets | $248.1M-31.5% | $262.7M-17.1% | $220.1M-22.9% | $382.7M+76.4% | $362.1M+63.1% | $317.1M+30.3% | $285.5M+12.5% | $216.9M-22.7% |
| Cash & Equivalents | $79.7M-65.0% | $69.9M+12.3% | $74.0M+0.9% | $243.6M+131.0% | $227.3M+104.0% | $62.2M-55.7% | $73.3M-48.3% | $105.5M-36.4% |
| Short-Term Investments | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m |
| Accounts Receivable | $83.1M+4.7% | $95.5M+88.2% | $62.8M+67.3% | $70.8M+95.8% | $79.4M+151.2% | $50.7M+101.7% | $37.5M+51.8% | $36.2M-7.5% |
| Long-Term Investments | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m |
| Total Liabilities | $321.0M-29.8% | $346.5M-26.4% | $317.8M-27.0% | $473.4M+9.8% | $457.0M+8.3% | $470.8M+10.6% | $435.3M+5.8% | $431.3M+3.6% |
| Current Liabilities | $121.3M+25.5% | $146.8M+40.4% | $124.0M+77.9% | $113.6M+67.3% | $96.7M+58.9% | $104.5M+61.8% | $69.7M+38.8% | $67.9M+23.7% |
| Non-Current Liabilities | $199.6M-44.6% | $199.7M-45.5% | $193.9M-47.0% | $359.8M-1.0% | $360.4M-0.2% | $366.3M+1.4% | $365.7M+1.2% | $363.4M+0.6% |
| Long-Term Debt | $188.9M-45.7% | $188.6M-45.7% | $179.2M-48.3% | $348.1M+0.5% | $347.7M+0.5% | $347.3M+0.5% | $346.9M+0.5% | $346.4M+0.5% |
| Total Equity | $259.6M-12.7% | $258.2M+3.6% | $260.7M-1.3% | $277.1M-3.6% | $297.3M-3.9% | $249.1M-26.3% | $264.1M-29.5% | $287.5M-31.4% |
| Retained Earnings | -$374.0Mn/m | -$375.4Mn/m | -$373.1Mn/m | -$356.8Mn/m | -$336.6Mn/m | -$384.7Mn/m | -$369.8Mn/m | -$346.3Mn/m |
Not reported in any period shown, so not listed: Inventory, Goodwill.
VTDRF Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'23Filing | Q1'23Filing | Q4'22Filing | Q3'22Filing | Q2'22Filing | Q1'22Filing | Q4'21Filing | Q3'21Filing |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $7.1Mn/m | -$18.1Mn/m | $3.1Mn/m | $17.7Mn/m | -$31.5Mn/m | -$8.2Mn/m | -$25.9Mn/m | -$3.5Mn/m |
| Depreciation & Amortization | $11.0M-0.4% | $11.0M-2.2% | $11.0M-20.2% | $11.0M-22.0% | $11.1M-21.7% | $11.3M-20.0% | $13.8M-5.1% | $14.1M-22.5% |
| Stock-Based Compensation | N/A | $11K-57.7% | N/A | N/A | N/A | $26K-91.5% | N/A | N/A |
| Investing Cash Flow | -$1.8M-100.9% | -$843Kn/m | -$2.1Mn/m | -$1.7Mn/m | $199.2Mn/m | -$3.8M-129.0% | -$3.8Mn/m | -$521Kn/m |
| Financing Cash Flow | -$1.7Mn/m | $4.5Mn/m | N/A | N/A | $0n/m | $0n/m | $0n/m | $0n/m |
| Dividends Paid | $0n/m | $5.3Mn/m | N/A | N/A | $0 | $0 | N/A | N/A |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Share Buybacks.
VTDRF Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'23Filing | Q1'23Filing | Q4'22Filing | Q3'22Filing | Q2'22Filing | Q1'22Filing | Q4'21Filing | Q3'21Filing |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 31.0%+12.1pp | 13.7%-11.0pp | 14.6%+2.7pp | 6.4%-7.8pp | 18.9%+20.2pp | 24.7%+50.4pp | 11.9% | 14.2%+48.9pp |
| Operating Margin | 16.0%-61.3pp | -7.0%-1.0pp | -6.8%+20.1pp | -14.2%+7.0pp | 77.3%+132.3pp | -6.0% | -26.9% | -21.3% |
| Net Margin | 1.4%-64.3pp | -3.0%+22.6pp | -21.5%+25.6pp | -28.5%+12.7pp | 65.7%+147.0pp | -25.5% | -47.1% | -41.1% |
| Return on Equity | 0.6%-15.6pp | -0.9%+5.1pp | -6.3%+2.6pp | -7.3%+0.3pp | 16.2%+25.6pp | -6.0%+4.7pp | -8.9%+3.1pp | -7.6%+32.8pp |
| Return on Assets | 0.3%-6.1pp | -0.4%+1.7pp | -2.8%+0.5pp | -2.7%+0.3pp | 6.4%+10.3pp | -2.1%+2.6pp | -3.4%+2.4pp | -3.0%+17.3pp |
| Current Ratio | 2.05-1.7x | 1.79-1.2x | 1.78-2.3x | 3.37+0.2x | 3.75+0.1x | 3.03-0.7x | 4.10-1.0x | 3.19-1.9x |
| Debt-to-Equity | 0.73-0.4x | 0.73-0.7x | 0.69-0.6x | 1.26+0.1x | 1.17+0.1x | 1.39+0.4x | 1.31+0.4x | 1.21+0.4x |
| Liabilities-to-Equity | 1.24-0.3x | 1.34-0.5x | 1.22-0.4x | 1.71+0.2x | 1.54+0.2x | 1.89+0.6x | 1.65+0.5x | 1.50+0.5x |
| Asset Turnover | 0.19+0.1x | 0.130.0x | 0.13+0.1x | 0.090.0x | 0.100.0x | 0.08+0.1x | 0.070.0x | 0.070.0x |
Not reported in any period shown, so not listed: FCF Margin.
Where Vantage Drilling Intl Ltd Ranks
Frequently Asked Questions
Vantage Drilling Intl Ltd (VTDRF) reported $278.7M in total revenue for fiscal year 2022. This represents a 75.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
Vantage Drilling Intl Ltd (VTDRF) revenue grew by 75.9% year-over-year, from $158.4M to $278.7M in fiscal year 2022.
No, Vantage Drilling Intl Ltd (VTDRF) reported a net loss of $37.4M over the trailing 12 months to June 30, 2023. In fiscal year 2022 it reported a net loss of $3.4M, with a net profit margin of -1.2%.
Vantage Drilling Intl Ltd (VTDRF) had EBITDA of $82.3M in fiscal year 2022, measuring earnings before interest, taxes, depreciation, and amortization.
As of fiscal year 2022, Vantage Drilling Intl Ltd (VTDRF) had $74.0M in cash and equivalents against $179.2M in long-term debt.
Vantage Drilling Intl Ltd (VTDRF) had a gross margin of 15.8% in fiscal year 2022, indicating the percentage of revenue retained after direct costs of goods sold.
Vantage Drilling Intl Ltd (VTDRF) had an operating margin of 13.6% in fiscal year 2022, reflecting the profitability of core business operations before interest and taxes.
Vantage Drilling Intl Ltd (VTDRF) had a net profit margin of -1.2% in fiscal year 2022, representing the share of revenue converted into profit after all expenses.
Vantage Drilling Intl Ltd (VTDRF) has a return on equity of -1.3% for fiscal year 2022, measuring how efficiently the company generates profit from shareholder equity.
Vantage Drilling Intl Ltd (VTDRF) recorded an outflow of $18.9M in operating cash flow during fiscal year 2022, representing cash used by core business activities.
Vantage Drilling Intl Ltd (VTDRF) had $578.6M in total assets as of fiscal year 2022, including both current and long-term assets.
Vantage Drilling Intl Ltd (VTDRF) had a current ratio of 1.78 as of fiscal year 2022, which is generally considered healthy.
Vantage Drilling Intl Ltd (VTDRF) had a debt-to-equity ratio of 0.69 as of fiscal year 2022. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.
Vantage Drilling Intl Ltd (VTDRF) had a liabilities-to-equity ratio of 1.22 as of fiscal year 2022, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.
Vantage Drilling Intl Ltd (VTDRF) had a return on assets of -0.6% for fiscal year 2022, measuring how efficiently the company uses its assets to generate profit.
Vantage Drilling Intl Ltd (VTDRF) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Vantage Drilling Intl Ltd (VTDRF) reported a net loss of $3.4M while operations used $18.9M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Vantage Drilling Intl Ltd (VTDRF) has an interest coverage ratio of 1.10x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.