Precision Net Tangible Assets vs Net Receivables Analysis

PDS Stock

USD 66.96 0.27 0.40%

Precision Drilling financial indicator trend analysis is much more than just breaking down Precision Drilling prevalent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Precision Drilling is a good investment. Please check the relationship between Precision Drilling Net Tangible Assets and its Net Receivables accounts. 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 unemployment.

For more information on how to buy Precision Stock please use our How to Invest in Precision Drilling guide.

Net Tangible Assets vs Net Receivables

Net Tangible Assets vs Net Receivables Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Precision Drilling Net Tangible Assets account and Net Receivables. At this time, the significance of the direction appears to have almost no relationship.

The correlation between Precision Drilling's Net Tangible Assets and Net Receivables is 0.19. Overlapping area represents the amount of variation of Net Tangible Assets that can explain the historical movement of Net Receivables in the same time period over historical financial statements of Precision Drilling, assuming nothing else is changed. The correlation between historical values of Precision Drilling's Net Tangible Assets and Net Receivables is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Net Tangible Assets of Precision Drilling are associated (or correlated) with its Net Receivables. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Net Receivables has no effect on the direction of Net Tangible Assets i.e., Precision Drilling's Net Tangible Assets and Net Receivables go up and down completely randomly.

Correlation Coefficient

0.19

Relationship Direction	Positive
Relationship Strength	Insignificant

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Net Tangible Assets

The total assets of a company minus any intangible assets such as patents, copyrights, and goodwill; it represents the physical assets of a company.

Net Receivables

Most indicators from Precision Drilling's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators 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 fundamental ratios indicators, 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 unemployment.

For more information on how to buy Precision Stock please use our How to Invest in Precision Drilling guide.At this time, Precision Drilling's Tax Provision is comparatively stable compared to the past year. Sales General And Administrative To Revenue is likely to gain to 0.06 in 2024, whereas Selling General Administrative is likely to drop slightly above 116.5 M in 2024.

	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

Interest Expense Depreciation And Amortization

Precision Drilling fundamental ratios Correlations

	Total Assets	Short Long Term Debt Total	Other Current Liab	Total Current Liabilities	Total Stockholder Equity	Property Plant And Equipment Net	Net Debt	Retained Earnings	Accounts Payable	Cash	Non Current Assets Total	Non Currrent Assets Other	Cash And Short Term Investments	Net Receivables	Common Stock Shares Outstanding	Non Current Liabilities Total	Inventory	Other Stockholder Equity	Total Liab	Total Current Assets	Short Term Debt	Intangible Assets	Good Will	Other Current Assets	Other Liab	Net Tangible Assets
Total Assets		0.83	0.09	0.69	0.98	0.97	0.7	0.27	0.73	0.61	0.99	0.11	0.61	0.8	0.74	0.97	-0.03	0.16	0.98	0.83	0.45	-0.9	0.41	0.39	0.22	0.3
Short Long Term Debt Total	0.83		0.01	0.32	0.72	0.92	0.95	-0.05	0.45	0.46	0.87	-0.16	0.46	0.39	0.65	0.94	0.26	-0.08	0.89	0.51	0.2	-0.65	0.1	0.39	0.44	0.43
Other Current Liab	0.09	0.01		0.05	0.13	0.06	0.1	-0.19	-0.23	-0.3	0.13	0.16	-0.3	0.1	0.45	0.05	0.34	-0.17	0.06	-0.08	-0.24	-0.2	-0.16	-0.07	0.72	0.25
Total Current Liabilities	0.69	0.32	0.05		0.7	0.57	0.19	0.15	0.9	0.46	0.62	0.38	0.46	0.94	0.47	0.54	-0.04	0.32	0.67	0.82	0.45	-0.74	0.24	0.5	-0.04	0.12
Total Stockholder Equity	0.98	0.72	0.13	0.7		0.93	0.6	0.35	0.71	0.56	0.97	0.12	0.56	0.84	0.72	0.9	-0.11	0.18	0.93	0.82	0.5	-0.91	0.47	0.35	0.15	0.28
Property Plant And Equipment Net	0.97	0.92	0.06	0.57	0.93		0.84	0.15	0.64	0.5	0.99	-0.02	0.5	0.68	0.72	0.98	0.09	0.01	0.97	0.69	0.4	-0.86	0.3	0.47	0.31	0.4
Net Debt	0.7	0.95	0.1	0.19	0.6	0.84		-0.24	0.3	0.16	0.78	-0.23	0.16	0.27	0.62	0.82	0.46	-0.27	0.76	0.26	0.1	-0.54	-0.07	0.5	0.57	0.56
Retained Earnings	0.27	-0.05	-0.19	0.15	0.35	0.15	-0.24		0.26	0.54	0.21	0.32	0.54	0.31	0.01	0.2	-0.89	0.26	0.2	0.46	0.52	-0.17	0.91	-0.5	-0.4	-0.35
Accounts Payable	0.73	0.45	-0.23	0.9	0.71	0.64	0.3	0.26		0.57	0.66	0.32	0.57	0.87	0.3	0.62	-0.21	0.38	0.71	0.84	0.53	-0.7	0.39	0.39	-0.11	0.12
Cash	0.61	0.46	-0.3	0.46	0.56	0.5	0.16	0.54	0.57		0.52	0.14	1.0	0.45	0.29	0.62	-0.48	0.51	0.64	0.85	0.37	-0.49	0.55	-0.15	-0.24	-0.26
Non Current Assets Total	0.99	0.87	0.13	0.62	0.97	0.99	0.78	0.21	0.66	0.52		0.05	0.52	0.74	0.75	0.97	0.05	0.07	0.98	0.74	0.41	-0.89	0.36	0.42	0.3	0.37
Non Currrent Assets Other	0.11	-0.16	0.16	0.38	0.12	-0.02	-0.23	0.32	0.32	0.14	0.05		0.14	0.36	-0.07	0.02	-0.3	0.13	0.09	0.29	0.2	-0.15	0.36	-0.13	0.02	-0.21
Cash And Short Term Investments	0.61	0.46	-0.3	0.46	0.56	0.5	0.16	0.54	0.57	1.0	0.52	0.14		0.45	0.29	0.62	-0.48	0.51	0.64	0.85	0.37	-0.49	0.55	-0.15	-0.24	-0.26
Net Receivables	0.8	0.39	0.1	0.94	0.84	0.68	0.27	0.31	0.87	0.45	0.74	0.36	0.45		0.59	0.64	-0.14	0.35	0.74	0.85	0.54	-0.78	0.41	0.42	-0.02	0.19
Common Stock Shares Outstanding	0.74	0.65	0.45	0.47	0.72	0.72	0.62	0.01	0.3	0.29	0.75	-0.07	0.29	0.59		0.73	0.33	0.05	0.74	0.53	0.16	-0.59	0.07	0.37	0.42	0.39
Non Current Liabilities Total	0.97	0.94	0.05	0.54	0.9	0.98	0.82	0.2	0.62	0.62	0.97	0.02	0.62	0.64	0.73		0.06	0.09	0.99	0.74	0.35	-0.82	0.34	0.35	0.32	0.31
Inventory	-0.03	0.26	0.34	-0.04	-0.11	0.09	0.46	-0.89	-0.21	-0.48	0.05	-0.3	-0.48	-0.14	0.33	0.06		-0.39	0.04	-0.32	-0.44	0.0	-0.82	0.57	0.57	0.45
Other Stockholder Equity	0.16	-0.08	-0.17	0.32	0.18	0.01	-0.27	0.26	0.38	0.51	0.07	0.13	0.51	0.35	0.05	0.09	-0.39		0.14	0.49	-0.12	-0.18	0.45	-0.2	-0.23	-0.47
Total Liab	0.98	0.89	0.06	0.67	0.93	0.97	0.76	0.2	0.71	0.64	0.98	0.09	0.64	0.74	0.74	0.99	0.04	0.14		0.81	0.4	-0.86	0.35	0.4	0.28	0.3
Total Current Assets	0.83	0.51	-0.08	0.82	0.82	0.69	0.26	0.46	0.84	0.85	0.74	0.29	0.85	0.85	0.53	0.74	-0.32	0.49	0.81		0.51	-0.75	0.52	0.15	-0.12	-0.02
Short Term Debt	0.45	0.2	-0.24	0.45	0.5	0.4	0.1	0.52	0.53	0.37	0.41	0.2	0.37	0.54	0.16	0.35	-0.44	-0.12	0.4	0.51		-0.36	0.35	0.24	-0.32	0.46
Intangible Assets	-0.9	-0.65	-0.2	-0.74	-0.91	-0.86	-0.54	-0.17	-0.7	-0.49	-0.89	-0.15	-0.49	-0.78	-0.59	-0.82	0.0	-0.18	-0.86	-0.75	-0.36		-0.35	-0.44	-0.26	-0.22
Good Will	0.41	0.1	-0.16	0.24	0.47	0.3	-0.07	0.91	0.39	0.55	0.36	0.36	0.55	0.41	0.07	0.34	-0.82	0.45	0.35	0.52	0.35	-0.35		-0.4	-0.23	-0.4
Other Current Assets	0.39	0.39	-0.07	0.5	0.35	0.47	0.5	-0.5	0.39	-0.15	0.42	-0.13	-0.15	0.42	0.37	0.35	0.57	-0.2	0.4	0.15	0.24	-0.44	-0.4		0.13	0.6
Other Liab	0.22	0.44	0.72	-0.04	0.15	0.31	0.57	-0.4	-0.11	-0.24	0.3	0.02	-0.24	-0.02	0.42	0.32	0.57	-0.23	0.28	-0.12	-0.32	-0.26	-0.23	0.13		0.43
Net Tangible Assets	0.3	0.43	0.25	0.12	0.28	0.4	0.56	-0.35	0.12	-0.26	0.37	-0.21	-0.26	0.19	0.39	0.31	0.45	-0.47	0.3	-0.02	0.46	-0.22	-0.4	0.6	0.43

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Precision Drilling Account Relationship Matchups

Precision Drilling fundamental ratios Accounts

	2019	2020	2021	2022	2023	2024 (projected)
Total Assets	3.3B	2.9B	2.7B	2.9B	3.3B	3.3B
Short Long Term Debt Total	1.5B	1.3B	1.2B	1.2B	992.2M	1.0B
Other Current Liab	4.1M	3.7M	839K	3.0M	191.0M	200.6M
Total Current Liabilities	216.1M	166.8M	238.1M	410.0M	365.6M	304.6M
Total Stockholder Equity	1.5B	1.4B	1.2B	1.2B	1.6B	1.7B
Property Plant And Equipment Net	2.8B	2.5B	2.3B	2.4B	2.4B	2.4B
Net Debt	1.4B	1.2B	1.1B	1.1B	938.0M	901.5M
Retained Earnings	(969.5M)	(1.1B)	(1.3B)	(1.3B)	(1.0B)	(961.4M)
Accounts Payable	199.5M	151.0M	224.1M	392.1M	151.3M	231.9M
Cash	74.7M	108.8M	40.6M	21.6M	54.2M	51.5M
Non Current Assets Total	2.9B	2.6B	2.3B	2.4B	2.8B	2.8B
Non Currrent Assets Other	(2.8B)	(2.6B)	23.9M	1.6M	10.7M	11.2M
Cash And Short Term Investments	74.7M	108.8M	40.6M	21.6M	54.2M	51.5M
Net Receivables	311.3M	207.2M	255.7M	413.9M	421.4M	415.5M
Common Stock Shares Outstanding	14.9M	13.7M	13.3M	13.5M	15.3M	14.4M
Liabilities And Stockholders Equity	3.3B	2.9B	2.7B	2.9B	3.3B	3.3B
Non Current Liabilities Total	1.5B	1.3B	1.2B	1.2B	1.4B	1.3B
Inventory	31.7M	26.3M	23.4M	35.2M	35.3M	29.1M
Other Stockholder Equity	66.3M	72.9M	76.3M	72.6M	75.1M	71.3M
Total Liab	1.7B	1.5B	1.4B	1.6B	1.7B	1.6B
Total Current Assets	417.8M	342.3M	319.8M	470.7M	510.9M	577.2M
Short Term Debt	12.4M	12.2M	13.2M	15.0M	20.2M	19.2M
Intangible Assets	31.7M	27.7M	23.9M	19.6M	17.3M	16.4M
Good Will	205.2M	35.4M	31.7M	27.7M	24.9M	23.7M
Accumulated Other Comprehensive Income	134.3M	137.6M	134.8M	159.7M	147.5M	154.8M
Other Current Assets	67.4M	76.5M	76.1M	91.2M	86.9M	43.7M
Other Liab	44.2M	40.3M	45.5M	96.6M	111.1M	116.7M
Net Tangible Assets	1.5B	1.4B	1.2B	1.2B	1.4B	1.5B
Other Assets	7.0M	3.2M	867K	455K	409.5K	389.0K
Long Term Debt	1.4B	1.2B	1.1B	1.1B	914.8M	1.1B
Deferred Long Term Liab	2.3M	2.1M	2.1M	1.4M	1.6M	1.1M
Common Stock	2.3B	2.3B	2.3B	2.3B	2.4B	2.0B
Property Plant Equipment	2.8B	2.5B	2.3B	2.4B	2.7B	2.6B
Property Plant And Equipment Gross	6.7B	2.5B	2.3B	2.4B	7.0B	4.7B
Long Term Debt Total	1.5B	1.3B	1.2B	1.1B	1.0B	1.3B
Capital Surpluse	66.3M	72.9M	76.3M	72.6M	83.4M	63.1M

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 together with Precision Stock

0.77

Diamond Offshore Drilling

Pair Corr

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.

Pair Correlation Correlation Matching

Additional Tools for Precision Stock Analysis

When running Precision Drilling's price analysis, check to measure Precision Drilling's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Precision Drilling is operating at the current time. Most of Precision Drilling's value examination focuses on studying past and present price action to predict the probability of Precision Drilling's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Precision Drilling's price. Additionally, you may evaluate how the addition of Precision Drilling to your portfolios can decrease your overall portfolio volatility.

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