Nine Energy Service, Inc. NINE
Nine Energy Service, Inc. (either individually or together with its subsidiaries, as the context requires, the "Company," "Nine," "we," "us," and "our") is a Delaware corporation that was formed in February 2013 through a combination of three service companies owned by SCF Partners, L.P. or its affiliates. Nine is a leading completion services provider that targets unconventional oil and gas resource development across North American basins and abroad. We partner with our exploration and production ("E&P") customers to design and deploy downhole solutions and technology to prepare horizontal, multistage wells for production. We focus on providing our customers with cost-effective and comprehensive completion solutions designed to maximize their production levels and operating efficiencies. We believe our success is a product of our culture, which is driven by our intense focus on performance and wellsite execution as well as our commitment to forward-leaning technologies that aid us in the development of smarter, customized applications that drive efficiencies.
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 | $561.9M | $554.1M | $609.5M | $593.4M | $349.4M | $310.9M | $832.9M | $827.2M | $543.7M | $282.4M |
| Cost of revenue | — | — | — | — | — | $302.2M | $670.0M | $639.3M | $448.5M | $246.1M |
| Gross profit | — | — | — | — | — | $8.7M | $163.0M | $187.9M | $95.2M | $36.2M |
| SG&A | $59.7M | $51.3M | $59.8M | $51.7M | $45.3M | $49.3M | $81.3M | $73.1M | $49.5M | $39.4M |
| Operating income | $2.3M | $8.9M | $17.6M | $43.6M | -$50.0M | -$383.2M | -$182.7M | -$28.3M | -$57.0M | -$83.0M |
| Interest expense | $55.2M | $51.3M | $51.1M | $32.5M | $32.5M | $36.8M | $39.8M | $22.3M | $15.7M | $14.2M |
| Pre-tax income | -$51.5M | -$40.9M | -$31.6M | $14.9M | -$64.6M | -$381.4M | -$221.6M | -$50.6M | -$72.7M | -$97.2M |
| Income tax | $171.0K | $198.0K | $585.0K | $546.0K | $25.0K | $2.5M | $3.9M | $2.4M | $5.0M | $26.3M |
| Net income | -$51.3M | -$41.1M | -$32.2M | $14.4M | -$64.6M | -$378.9M | -$217.8M | -$53.0M | -$67.7M | -$70.9M |
| EPS, basic | -1.25 | -1.11 | -0.97 | 0.47 | -2.13 | -12.74 | -7.43 | -2.17 | -4.55 | -5.34 |
| EPS, diluted | -1.25 | -1.11 | -0.97 | 0.45 | -2.13 | -12.74 | -7.43 | -2.17 | -4.55 | -5.34 |
| Shares, diluted (wtd. avg.) | $40.9M | $37.2M | $33.3M | $32.3M | $30.3M | $29.7M | $29.3M | $24.4M | $14.9M | $13.3M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $18.4M | $27.9M | $30.8M | $17.4M | $21.5M | $68.9M | $93.0M | $63.6M | $17.5M | $4.1M |
| Receivables | $76.0M | $81.2M | $88.4M | $105.3M | $64.0M | $41.2M | $96.9M | $154.8M | $99.6M | — |
| Inventory | $56.6M | $50.8M | $54.5M | $62.0M | $42.2M | $38.4M | $60.9M | $91.4M | $22.2M | — |
| Total current assets | $168.8M | $170.5M | $183.6M | $196.7M | $139.3M | $166.2M | $268.9M | $333.2M | $147.2M | — |
| Property, plant and equipment | $64.3M | $70.5M | $82.4M | $89.7M | $87.0M | $102.4M | $128.6M | $211.6M | $259.0M | — |
| Goodwill | — | — | — | — | — | $0 | $296.2M | $307.8M | $93.8M | $125.3M |
| Other intangibles | $68.1M | $79.2M | $90.4M | $101.9M | $116.4M | $132.5M | $149.0M | $173.5M | $41.5M | $54.1M |
| Total assets | $339.5M | $360.1M | $402.0M | $426.8M | $381.6M | $442.6M | $850.9M | $1.14B | $578.9M | — |
| Accounts payable | $43.6M | $36.1M | $33.4M | $42.2M | $28.7M | $18.1M | $35.5M | $46.1M | $29.6M | — |
| Short-term debt | $6.3M | $3.6M | $2.9M | $2.3M | $2.1M | $844.0K | $0 | $0 | $241.5M | — |
| Total current liabilities | $91.4M | $81.5M | $82.8M | $81.0M | $56.5M | $43.4M | $61.2M | $108.3M | $286.4M | — |
| Long-term debt | $341.6M | $317.3M | $320.5M | $338.0M | $332.3M | $342.7M | $392.1M | $425.0M | $0 | — |
| Total liabilities | $454.4M | $426.1M | $437.6M | $450.3M | $420.9M | $422.2M | $461.0M | $546.3M | $291.5M | — |
| Retained earnings | -$918.6M | -$867.3M | -$826.2M | -$794.0M | -$808.4M | -$743.8M | -$364.8M | -$147.1M | -$94.1M | — |
| Total equity | -$115.0M | -$66.1M | -$35.6M | -$23.5M | -$39.3M | $20.4M | $389.9M | $594.8M | $287.4M | $288.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$7.3M | $13.2M | $45.5M | $16.7M | -$40.4M | -$4.9M | $101.3M | $89.6M | $5.7M | -$3.3M |
| Depreciation and amortisation | $23.2M | $25.6M | $29.1M | $26.8M | $28.9M | $32.4M | $50.5M | $54.3M | $53.4M | $55.3M |
| Stock-based compensation | $2.2M | $2.9M | $2.2M | $2.4M | $5.4M | $9.7M | $14.1M | $13.2M | $7.6M | $5.7M |
| Capital expenditure | $15.9M | $14.8M | $24.6M | $28.6M | $15.4M | $9.4M | $65.0M | $46.6M | $45.2M | $9.1M |
| Investing cash flow | -$13.6M | -$14.2M | -$23.2M | -$25.4M | -$11.9M | -$1.8M | -$34.1M | -$389.8M | -$44.5M | -$4.2M |
| Financing cash flow | $12.9M | -$1.7M | -$8.9M | $4.8M | $5.0M | -$17.4M | -$37.9M | $346.7M | $52.3M | -$7.3M |
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 0001213900-26-048590.
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