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ICDI (Independence Contract Drilling) Return-on-Tangible-Asset : -20.22% (As of Sep. 2024)


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What is Independence Contract Drilling Return-on-Tangible-Asset?

Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. Independence Contract Drilling's annualized Net Income for the quarter that ended in Sep. 2024 was $-74.0 Mil. Independence Contract Drilling's average total tangible assets for the quarter that ended in Sep. 2024 was $365.9 Mil. Therefore, Independence Contract Drilling's annualized Return-on-Tangible-Asset for the quarter that ended in Sep. 2024 was -20.22%.

The historical rank and industry rank for Independence Contract Drilling's Return-on-Tangible-Asset or its related term are showing as below:

ICDI' s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -20.78   Med: -10.1   Max: -2.61
Current: -18.29

During the past 12 years, Independence Contract Drilling's highest Return-on-Tangible-Asset was -2.61%. The lowest was -20.78%. And the median was -10.10%.

ICDI's Return-on-Tangible-Asset is not ranked
in the Oil & Gas industry.
Industry Median: 2.19 vs ICDI: -18.29

Independence Contract Drilling Return-on-Tangible-Asset Historical Data

The historical data trend for Independence Contract Drilling's Return-on-Tangible-Asset can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Independence Contract Drilling Return-on-Tangible-Asset Chart

Independence Contract Drilling Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Return-on-Tangible-Asset
Get a 7-Day Free Trial Premium Member Only Premium Member Only -11.05 -20.78 -16.47 -15.80 -9.15

Independence Contract Drilling Quarterly Data
Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24
Return-on-Tangible-Asset Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -7.36 -25.93 -9.22 -17.60 -20.22

Competitive Comparison of Independence Contract Drilling's Return-on-Tangible-Asset

For the Oil & Gas Drilling subindustry, Independence Contract Drilling's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Independence Contract Drilling's Return-on-Tangible-Asset Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Independence Contract Drilling's Return-on-Tangible-Asset distribution charts can be found below:

* The bar in red indicates where Independence Contract Drilling's Return-on-Tangible-Asset falls into.


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Independence Contract Drilling Return-on-Tangible-Asset Calculation

Independence Contract Drilling's annualized Return-on-Tangible-Asset for the fiscal year that ended in Dec. 2023 is calculated as:

Return-on-Tangible-Asset=Net Income/( (Total Tangible Assets+Total Tangible Assets)/ count )
(A: Dec. 2023 )  (A: Dec. 2022 )(A: Dec. 2023 )
=Net Income/( (Total Assets - Intangible Assets+Total Assets - Intangible Assets)/ count )
(A: Dec. 2023 )  (A: Dec. 2022 )(A: Dec. 2023 )
=-37.697/( (429.714+394.677)/ 2 )
=-37.697/412.1955
=-9.15 %

Independence Contract Drilling's annualized Return-on-Tangible-Asset for the quarter that ended in Sep. 2024 is calculated as:

Return-on-Tangible-Asset=Net Income/( (Total Tangible Assets+Total Tangible Assets)/ count )
(Q: Sep. 2024 )  (Q: Jun. 2024 )(Q: Sep. 2024 )
=Net Income/( (Total Assets - Intangible Assets+Total Assets - Intangible Assets)/ count )
(Q: Sep. 2024 )  (Q: Jun. 2024 )(Q: Sep. 2024 )
=-73.976/( (374.95+356.854)/ 2 )
=-73.976/365.902
=-20.22 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data, the Net Income data used here is four times the quarterly (Sep. 2024) net income data.


Independence Contract Drilling  (OTCPK:ICDI) Return-on-Tangible-Asset Explanation

Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.


Be Aware

Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the company’s earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a company’s tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).

Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.


Independence Contract Drilling Return-on-Tangible-Asset Related Terms

Thank you for viewing the detailed overview of Independence Contract Drilling's Return-on-Tangible-Asset provided by GuruFocus.com. Please click on the following links to see related term pages.


Independence Contract Drilling Business Description

Traded in Other Exchanges
N/A
Address
20475 State Highway 249, Suite 300, Houston, TX, USA, 77070
Independence Contract Drilling Inc is engaged in providing land-based contract drilling services for oil and natural gas producers. The company constructs its own and operates a premium land rig fleet. It develops and assembles its ShaleDriller series rig which is used for the development of oil and gas properties. The company's customers for contract drilling services in the United States include oil and natural gas companies, independent oil and natural gas companies, as well as various small to mid-sized publicly traded and privately held oil and gas companies.
Executives
Brian Berman director 20475 STATE HIGHWAY 249, SUITE 300, HOUSTON TX 77070
Msd Capital L P 10 percent owner 1 VANDERBILT AVENUE, 26TH FLOOR, NEW YORK NY 10017-5407
Msd Credit Opportunity Master Fund, L.p. director, 10 percent owner ONE VANDERBILT AVENUE, 26TH FLOOR, NEW YORK NY 10017
Msd Pcof Partners Lxxiii, Llc director, 10 percent owner ONE VANDERBILT AVENUE, 26TH FLOOR, NEW YORK NY 10017
Msd Private Credit Opportunity (non-eci) Fund, Llc director, 10 percent owner ONE VANDERBILT AVENUE, 26TH FLOOR, NEW YORK NY 10017
Michael S Dell 10 percent owner C/O DELL INC., ONE DELL WAY, ROUND ROCK TX 78682-2244
Msd Energy Investments, L.p. 10 percent owner ONE VANDERBILT AVENUE, 26TH FLOOR, NEW YORK NY 10017
Msd Partners, L.p. director, 10 percent owner ONE VANDERBILT AVENUE, 26TH FLOOR, NEW YORK NY 10017
William Monroe 10 percent owner C/O HIGIER ALLEN & LAUTIN, P.C., 2711 N. HASKELL AVE., SUITE 2400, DALLAS TX 75204
James Minmier director 777 N.W. 63RD ST., OKLAHOMA CITY OK 73116
Daniel F Mcnease director 2800 POST OAK BLVD, STE 5450, HOUSTON TX 77056-6127
Barrett Robert J. Iv director 20475 STATE HIGHWAY 249, SUITE 300, HOUSTON TX 77070
Vincent J Cebula director 1301 AVENUE OF THE AMERICAS, 34 TH FLOOR, NEW YORK NY 10019
Christopher Gleysteen director ONE VANDERBILT AVENUE, 26TH FLOOR, NEW YORK NY 10017
Scott A. Keller officer: SVP - SALES AND MARKETING 20475 SH 249, SUITE 300, HOUSTON TX 77070