KLX Energy Services Holdings, Inc. KLXE
Except as otherwise indicated or unless the context otherwise requires, "KLX Energy Services," "KLXE," "Company," "we," "us" and "our" refer to KLX Energy Services Holdings, Inc. and its consolidated subsidiaries.
KLX Energy Services is a growth-oriented provider of diversified oilfield services to leading onshore oil and natural gas E&P companies operating in both conventional and unconventional plays in all of the active major basins throughout the United States. KLXE was initially formed from the combination and integration of seven private oilfield service companies acquired during 2013 and 2014. Each of the acquired businesses was regional in nature and brought one or two specific service capabilities to KLX Energy Services. We became incorporated in Delaware on June 28, 2018, and on September 14, 2018, we completed our spin-off from KLX Inc. and became an independent, publicly traded company. See Item 7. "Management Discussion and Analysis of Financial Condition and Results of Operations" for more details of our acquisitions since becoming a publicly traded company, including our 2020 acquisition of Quintana Energy Services Inc. ("QES," and such acquisition the "QES Merger") and our 2023 acquisition of Greene's Energy Group, LLC ("Greene's," and such acquisition the "Greene's Acquisition").
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $636.6M | $709.3M | $888.4M | $781.6M | $436.1M | $276.8M | $544.0M | $495.3M | $320.5M | $152.2M |
| Cost of revenue | $501.5M | $549.7M | $672.5M | $621.3M | $389.9M | $314.8M | $470.0M | $370.4M | $269.1M | $181.3M |
| Gross profit | $135.1M | $159.6M | $215.9M | $160.3M | $46.2M | -$38.0M | $74.0M | $124.9M | $51.4M | -$29.1M |
| R&D | $1.7M | $1.4M | $1.4M | $600.0K | $600.0K | $700.0K | $2.7M | $2.4M | $2.0M | $300.0K |
| SG&A | $68.5M | $79.6M | $86.7M | $70.4M | $54.6M | $88.8M | $100.0M | $100.4M | $73.4M | $60.1M |
| Operating income | -$30.3M | -$15.5M | $56.9M | $32.5M | -$64.1M | -$301.1M | -$75.7M | $22.1M | -$24.0M | -$89.5M |
| Interest expense | $45.2M | $39.4M | $36.5M | $35.0M | — | — | $30.4M | $7.7M | $0 | $0 |
| Pre-tax income | -$76.3M | -$52.4M | $22.2M | -$2.5M | -$93.5M | -$331.8M | -$104.9M | $15.0M | -$24.0M | -$89.5M |
| Income tax | $800.0K | $600.0K | $3.0M | $600.0K | $300.0K | $400.0K | $8.5M | $600.0K | $100.0K | $100.0K |
| Net income | -$77.1M | -$53.0M | $19.2M | -$3.1M | -$93.8M | -$332.2M | -$96.4M | $14.4M | -$24.1M | -$89.6M |
| EPS, basic | -4.12 | -3.27 | 1.23 | -0.27 | -10.83 | -50.86 | -21,610,000.00 | 0.72 | -1.20 | -4.46 |
| EPS, diluted | -4.12 | -3.27 | 1.22 | -0.27 | -10.83 | -50.86 | -21,610,000.00 | 0.71 | -1.20 | -4.46 |
| Shares, diluted (wtd. avg.) | $18.7M | $16.2M | $15.7M | $11.3M | $8.7M | $6.5M | $4.5M | $20.2M | $20.1M | $20.1M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $5.7M | $91.6M | $112.5M | $57.4M | $28.0M | $47.1M | $123.5M | $163.8M | — | — |
| Receivables | $102.7M | $96.9M | $127.0M | $154.3M | $103.2M | $67.0M | $79.2M | $119.6M | $73.9M | — |
| Inventory | $30.7M | $31.0M | $33.5M | $25.7M | $22.4M | $20.8M | $12.0M | $15.4M | $10.2M | — |
| Total current assets | $149.9M | $233.0M | $290.3M | $254.7M | $164.7M | $150.7M | $228.5M | $308.3M | $86.1M | — |
| Property, plant and equipment | — | — | — | — | — | $203.7M | $306.8M | $271.9M | $179.5M | — |
| Goodwill | — | — | — | $0 | $0 | $0 | $28.3M | $43.2M | — | — |
| Other intangibles | $1.1M | $1.5M | $1.8M | $2.1M | $2.2M | $2.5M | $45.8M | $30.3M | $2.8M | — |
| Total assets | $340.3M | $456.3M | $539.8M | $465.9M | $387.7M | $362.7M | $623.4M | $672.8M | $273.8M | $205.0M |
| Accounts payable | $68.7M | $74.4M | $87.9M | $84.2M | $72.1M | $39.4M | $31.4M | $47.3M | $31.8M | — |
| Short-term debt | $4.4M | $0 | — | — | — | — | — | — | — | — |
| Total current liabilities | $126.2M | $140.1M | $164.1M | $154.4M | $122.7M | $77.7M | $64.8M | $85.2M | $48.0M | — |
| Long-term debt | $253.9M | $285.1M | $284.3M | $283.4M | $274.8M | $243.9M | $243.0M | $242.2M | — | — |
| Retained earnings | -$639.5M | -$562.4M | -$509.4M | -$528.6M | -$525.3M | -$433.1M | -$100.9M | -$4.5M | -$801.2M | — |
| Total equity | -$74.2M | -$10.5M | $38.8M | -$15.8M | -$51.4M | $32.1M | $312.2M | $340.7M | $224.6M | $178.0M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $7.5M | $54.2M | $115.6M | $15.7M | -$55.6M | -$64.9M | $58.1M | $62.0M | -$9.4M | -$37.5M |
| Depreciation and amortisation | $95.2M | $94.0M | $72.8M | $56.8M | $53.8M | $57.7M | $60.2M | $40.7M | $33.2M | $36.0M |
| Stock-based compensation | $2.6M | $3.9M | $3.0M | $3.0M | $3.2M | $17.8M | $18.5M | $23.5M | $12.5M | $9.0M |
| Capital expenditure | $49.1M | $65.1M | $57.1M | $35.6M | $11.0M | $12.2M | $70.8M | $84.0M | $49.4M | $29.0M |
| Investing cash flow | -$32.9M | -$51.1M | -$39.7M | -$18.7M | $4.5M | -$11.9M | -$97.7M | -$214.1M | -$48.8M | -$29.0M |
| Financing cash flow | -$60.5M | -$24.0M | -$20.8M | $32.4M | $32.0M | $400.0K | -$700.0K | $315.9M | $58.2M | $66.5M |
| Buybacks | $400.0K | $500.0K | $700.0K | $300.0K | $300.0K | $400.0K | $1.2M | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001738827-26-000013.
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