Precision Drilling Corp(Calgary) PD

EnergyOil & Gas Related Equipment and ServicesCanada

Last close 136.76 CAD on Nov 2, 2026, +38.9% year to date

Quant rating

Quant rating B Rank 22 of 73 in Energy

Growth A 8 of 73
Valuation C 39 of 73
Quality C 36 of 73
Revisions C 46 of 73
Momentum B 12 of 73

Wall Street consensus Buy (2.00)Average target 161.35 CAD +18.0%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 1.7B
Enterprise value: 2.4B
52-week range: 78.76 – 157.05
3-year range: 54.17 – 157.05
Dividend yield: –
Beta (5 years): 1.37
Shares outstanding: 12.5M
Next earnings: Feb 9, 2027

About the company

Precision Drilling Corporation is a Canada-based provider of contract drilling and completion and production services primarily to oil and natural gas and geothermal exploration and production companies in Canada, the United States and certain international locations. The Company operates through two segments: Contract Drilling Services and Completion and Production Services. The Contract Drilling Services segment includes drilling rigs, procurement and distribution of oilfield supplies, and the manufacture, sale and repair of drilling equipment. The Completion and Production Services segment includes service rigs, oilfield equipment rental and camp services. Its technologies include AlphaAutomation, AlphaApps, AlphaAnalytics and EverGreen. It provides specialty oilfield rental equipment including solids control, power generation, drilling surface rental equipment, drilling fluid storage solutions, frac fluid storage solutions, accommodation, and wastewater treatment.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	1,844	1,902	1,938	1,617	987	–
Revenue growth	−3.1%	−1.8%	19.8%	63.9%	5.5%	14.5%
EPS (basic, normalized)	0.14	7.81	18.46	−2.53	−13.32	–
EPS growth	−98.2%	−57.7%	–	–	–	–
Gross margin	32.8%	34.4%	37.8%	30.5%	27.1%	32.5%
Net margin	0.1%	5.8%	14.9%	−2.1%	−18.0%	0.2%
ROE	0.1%	6.8%	20.6%	−2.8%	−13.5%	2.3%

Balance sheet, last quarter
Cash & short-term investments (mil)	23.2
Current ratio	1.48x
Long-term debt (mil)	680
Net debt (mil)	682
Total equity (mil)	1,607
Net debt / equity	0.42x
Net debt / EBITDA	1.39x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	1,844	−3.1%	1.3x	490	−9.4%	4.9x	0.14	−98.2%	976.9x
2026	1,990	+8.0%	1.2x	491	+0.2%	4.9x	6.76	+4,731.4%	20.2x
2027	2,108	+5.9%	1.1x	568	+15.8%	4.2x	11.94	+76.5%	11.5x
2028	2,148	+1.9%	1.1x	581	+2.2%	4.1x	13.81	+15.7%	9.9x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	1,990	−2.1%	−2.0%	−0.3%	6.76	+4.0%	+4.0%	−5.3%
2027	2,108	−1.1%	−1.0%	+1.8%	11.94	+15.3%	+15.3%	+16.0%
2028	2,148	−2.0%	−2.0%	−0.5%	13.81	−2.6%	−2.6%	−3.1%

Earnings surprises

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	528	429	477	468	496	407	462	479	526	453
Sales mean (mil)	529	428	501	481	494	402	464	484	500	435
Surprise	−0.3%	+0.4%	−4.7%	−2.8%	+0.5%	+1.2%	−0.3%	−1.1%	+5.3%	+4.0%
EPS reported	2.53	1.44	2.31	1.06	2.20	1.07	−0.51	−3.23	1.34	−0.52
EPS mean	2.64	4.10	2.41	1.92	2.41	0.12	1.47	0.85	2.71	0.34
Surprise	−4.3%	−64.9%	−4.0%	−44.9%	−8.7%	+806.8%	−134.6%	−480.0%	−50.6%	−254.1%

Peer comparison Oil & Gas Related Equipment and Services

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
PD Precision Drilling Corp(Calgary)	1.7B	1.39x	0.1%	1.08x	20.2x	11.5x	4.9x	4.2x
SLB SLB N.V.	108.0B	1.29x	9.4%	2.96x	21.3x	16.9x	10.9x	9.6x
BKR Baker Hughes Company	73.7B	2.75x	9.3%	2.62x	20.5x	18.2x	12.6x	10.9x
PPL Pembina Pipeline Corporation	41.0B	3.59x	19.9%	2.40x	23.1x	22.6x	12.7x	12.3x
HAL Halliburton Company	40.0B	1.27x	5.8%	2.57x	14.8x	11.9x	8.5x	7.3x
NE Noble Corporation PLC	10.2B	1.42x	6.6%	1.69x	158.9x	22.6x	10.1x	7.9x
Mean		1.95x	8.5%	2.22x	43.1x	17.3x	9.9x	8.7x
Median		1.41x	8.0%	2.49x	20.9x	17.6x	10.5x	8.7x

Technical analysis

1M+13.3%
3M+25.5%
1Y+62.5%
3Y+66.9%

Financial statements in millions of CAD

Income statement in millions of CAD, fiscal years

Income statement, Precision Drilling Corp(Calgary), fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	1,844	1,902	1,938	1,617	987	936
Cost of revenue	1,240	1,249	1,205	1,125	719	604
Gross profit	604	654	733	493	268	331
Selling, general & administrative expenses	114	132	122	181	98.9	75.9
Research & development	–	–	–	–	–	–
Depreciation/amortization	318	309	298	279	282	316
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	67.1	0	−16.3	0	−14.5	−51.8
Other operating expenses	0	0	0	0	0	0
Operating income	105	212	330	32.6	−99.1	−9.1
Net interest income (expense)	−57.3	−73.2	−87.9	−75.7	−92.1	−112
Gain (loss) on sale of assets	8.6	16.1	24.5	29.9	8.5	11.9
Other non-operating income (expense)	0	−0.3	−0.7	−1.0	−0.1	−0.2
Net income before taxes	55.9	155	266	−14.1	−183	−109
Provision for taxes	52.8	43.2	−23.5	20.1	−5.4	11.0
Minority interest	−1.3	−0.1	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	1.8	111	289	−34.3	−177	−120
Extraordinary items	–	–	–	–	–	–
Net income	1.8	111	289	−34.3	−177	−120
EBIT, normalized	172	212	314	32.6	−114	−60.9
EBITDA, normalized	490	522	612	312	170	256
Basic EPS, normalized	0.14	7.81	18.46	−2.53	−13.32	–

Balance sheet in millions of CAD, fiscal years

Balance sheet, Precision Drilling Corp(Calgary), fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	85.8	73.8	54.2	21.6	40.6	109
Receivables	274	297	335	323	180	131
Total inventory	49.0	43.3	35.3	35.2	23.4	26.3
Prepaid expenses	77.8	82.0	86.9	91.2	76.1	76.5
Other current assets	0	5.5	0	0	0	0
Total current assets	487	501	511	471	320	342
Property, plant & equipment	2,216	2,422	2,402	2,363	2,310	2,528
Goodwill	–	–	–	–	–	–
Intangibles	9.5	13.0	17.3	19.6	23.9	27.7
Long-term investments	7.6	8.5	10.0	20.5	7.4	–
Note receivable	4.5	4.8	5.7	1.6	–	–
Other long-term assets	2.2	6.6	73.7	0.5	0.9	1.1
Total assets	2,727	2,956	3,019	2,876	2,662	2,899
Liabilities
Accounts payable	120	113	151	136	90.8	56.9
Payable/accrued	–	–	–	–	–	–
Accrued expenses	133	165	191	256	133	94.0
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	17.8	20.6	20.2	15.0	13.2	12.2
Other current liabilities	28.5	39.9	3.0	3.0	0.8	3.7
Total current liabilities	300	339	366	410	238	167
Long-term debt	726	867	972	1,139	1,153	1,285
Minority interest	4.8	4.5	–	–	–	–
Other liabilities	111	68.6	106	96.6	45.5	40.3
Total liabilities	1,143	1,279	1,443	1,646	1,436	1,492
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	2,239	2,302	2,365	2,300	2,281	2,286
Additional paid-in capital	79.3	77.6	75.1	72.6	76.3	72.9
Retained earnings (accumulated deficit)	−899	−901	−1,012	−1,301	−1,267	−1,090
Treasury stock	–	–	–	–	–	–
Other equity	165	199	147	160	135	138
Total equity	1,584	1,677	1,576	1,231	1,226	1,407
Total liabilities & shareholders' equity	2,727	2,956	3,019	2,876	2,662	2,899

Cash flow statement in millions of CAD, fiscal years

Cash flow statement, Precision Drilling Corp(Calgary), fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	3.1	111	289	−34.3	−177	−120
Depreciation, depletion & amortization	318	309	298	279	282	316
Deferred taxes	–	–	–	–	–	–
Non-cash items	182	119	31.5	127	120	82.9
Changes in working capital	−90.4	−57.9	−118	−134	−85.9	−52.9
Cash from operations	413	482	501	237	139	226
Investing activities
Capital expenditures	−263	−217	−227	−184	−75.9	−61.6
Other investing cash flows	55.2	13.7	12.0	39.8	19.3	21.1
Cash from investing	−208	−203	−215	−144	−56.6	−40.5
Financing activities
Financing cash flow items	−1.5	3.0	–	0	−10.4	−1.0
Cash dividends paid	–	–	–	–	–	–
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−191	−264	−252	−113	−140	−145
Cash from financing	−192	−261	−252	−113	−150	−146
Foreign exchange effects	−0.3	1.9	−1.2	1.5	−0.9	−5.9
Net change in cash	12.0	19.6	32.6	−19.0	−68.2	34.1
Free cash flow	149	265	274	52.9	63.3	165

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.