Company Quick10K Filing
Nine Energy Service
10-K 2019-12-31 Filed 2020-03-10
10-Q 2019-09-30 Filed 2019-11-12
10-Q 2019-06-30 Filed 2019-08-12
10-Q 2019-03-31 Filed 2019-05-08
10-K 2018-12-31 Filed 2019-03-07
10-Q 2018-09-30 Filed 2018-11-13
10-Q 2018-06-30 Filed 2018-08-13
10-Q 2018-03-31 Filed 2018-05-14
10-K 2017-12-31 Filed 2018-03-29
8-K 2020-03-09 Earnings, Exhibits
8-K 2019-11-08 Earnings, Exhibits
8-K 2019-09-03 Regulation FD, Exhibits
8-K 2019-08-30 M&A, Officers, Exhibits
8-K 2019-08-12 Earnings, Exhibits
8-K 2019-05-08 Shareholder Vote
8-K 2019-05-07 Earnings, Exhibits
8-K 2019-03-06 Earnings, Exhibits
8-K 2019-01-11 Regulation FD
8-K 2018-11-20 Regulation FD
8-K 2018-11-20 Officers, Exhibits
8-K 2018-11-12 Earnings, Exhibits
8-K 2018-10-25 Enter Agreement, Leave Agreement, M&A, Off-BS Arrangement, Sale of Shares, Shareholder Rights, Exhibits
8-K 2018-10-18 Enter Agreement, Exhibits
8-K 2018-10-15 Enter Agreement, Earnings, Sale of Shares, Shareholder Rights, Regulation FD, Exhibits
8-K 2018-08-31 Officers, Regulation FD, Exhibits
8-K 2018-08-28 Officers, Exhibits
8-K 2018-08-13 Earnings, Exhibits
8-K 2018-08-08 Officers, Regulation FD, Exhibits
8-K 2018-05-14 Earnings, Exhibits
8-K 2018-03-28 Earnings, Exhibits
8-K 2018-01-26 Officers, Officers
8-K 2018-01-18 Enter Agreement, Leave Agreement, Off-BS Arrangement, Shareholder Rights, Officers, Amend Bylaw, Regulation FD, Exhibits

Nine Energy Service Financials

NINE Metrics, Comps, Filings

Quarterly | Annual

Business

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 and production services provider that targets unconventional oil and gas resource development across all 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.

We provide our comprehensive completion solutions across a diverse set of well-types, including on the most complex, technically demanding unconventional wells. Modern, high-intensity completion techniques are a more effective way for our customers to maximize resource extraction from horizontal oil and gas wells. These completion techniques provide improved estimated ultimate recovery per lateral foot and a superior return on investment by decreasing cycle time, which make them attractive to operators despite their associated increased well cost. We compete for the most intricate and demanding projects, which are characterized by extended reach horizontal laterals, increased stage counts per well, multi-well pad development, and increased proppant loading per lateral foot. As stage counts per well and wells per pad increase, so do our operating leverage and returns, as we are able to complete more jobs and stages with the same number of units and crews. Service providers for these demanding projects are selected based on their technical expertise and ability to execute safely and efficiently, rather than only price. As our customers continue to improve operational efficiencies in completions design, increasing its complexity and difficulty, oilfield service selection becomes much more critical and selective.

We offer a variety of completion applications and technologies to match customer needs across the broadest addressable completions market. Our comprehensive well solutions range from cementing the well at the initial stages of the completion, preparing the well for stimulation, isolating all the stages of an extended reach lateral, and drilling out plugs and performing associated remedial work as production comes online. Our completion techniques are specifically tailored to the customer and geology of each well. At the initial stage of a well completion, our lab facilities produce customized cementing slurries used to secure the production casing to ensure well integrity throughout the life of the well. Once the casing is in place, we utilize our proprietary tools at the toe (end) of the well, often called stage one, to prepare for the well stimulation process. We provide customers with plug-and-perf or pinpoint frac sleeve system technology to complete the remaining stages of the well. Through our wireline units, we provide plug-and-perf services that, when combined with our fully-composite or dissolvable frac plugs, create perforations to isolate and divert the fracture to the correct stage. Our pinpoint frac sleeve system involves packers, either hydraulic or swellable, to isolate sections of the wellbore and frac sleeves to provide access to each stage for stimulation and production. Our equipment also includes large-diameter coiled tubing units and workover rigs that are capable of reaching the farthest depths for the removal of plugs and cleaning of the wellbore to prepare for production. Once a well is producing, we are able to offer a range of production enhancement and well workover services through our fleet of well service rigs and ancillary equipment.


Valuation ($BB)

Market Cap, Enterprise Value

Balance Sheet ($BB)

Assets, Stockholders' Equity

Income Statement ($BB Quarterly)

Revenue, Gross Profit, Net Income

Cash Flow ($BB Quarterly)

Operating, Investing, Financing

Comps ($MM TTM) Market Cap Gross Margin EV/EBITDA Ret on Assets Assets Liabilities Revenue G Profit Net Income EBITDA EV
SemGroup (SEMG) 1,289 22% 12.4 -0% 6,113 4,865 2,416 530 -19 287 3,568
C&J Energy Services (CJ) 824 15% -5.2 -24% 1,330 298 2,070 309 -313 -136 710
National Energy Services Reunited (NESR) 750 -203.7 500,916,300% 515 0 0 -5 -5 1,020
Keane Group (FRAC) 1,384 22% 4.4 9% 1,114 602 2,152 475 97 378 1,653
FTS International (FTSI) 283 16% 9.3 -5% 686 639 882 138 -33 58 539
Nine Energy Service (NINE) 187 16% 48.0 -7% 1,082 475 899 140 -75 10 494
Mammoth Energy Services (TUSK) 123 16% 1.0 5% 1,023 295 567 89 50 190 193
KLX Energy Services Holdings (KLXE) 216 18% -18.8 -10% 658 329 591 104 -66 -18 338
Natural Gas Services (NGS) 176 0% 33.8 -4% 297 47 75 0 -12 5 157
Superior Energy Services (SPN) 14 25% -1.2 -43% 2,124 1,981 1,869 466 -907 -895 1,051
NCS Multistage (NCSM) 93 47% -0.5 -106% 213 51 204 96 -225 -207 104
Cypress Energy Partners (CELP) 156 13% 10.9 9% 172 115 399 52 15 20 223
Ranger Energy Services (RNGR) 61 0% 2.8 2% 308 106 342 0 7 39 107
Nuverra Environmental Solutions (NES) 66 0% 76.0 -9% 278 66 180 0 -26 1 98
Quintana Energy Services (QES) 62 0% -5.3 -26% 267 129 548 0 -69 -15 80
Basic Energy Services (BAS) 40 32% -25.9 -21% 668 540 565 184 -141 -12 303
Key Energy Services (KEG) 28 19% -9.8 -24% 374 446 87 -90 -25 249
Recon Technology (RCON) 17 14% 5.3 1% 157 50 8 1 2 2 13
Enservco (ENSV) 14 18% 5.5 -11% 40 40 38 7 -4 3 17
NexTier Oilfield Solutions (NEX) 23% 0.6 -2% 1,059 587 1,780 412 -17 287 181

Balance Sheet ($MM)2018-03-312018-06-302018-09-302018-12-312019-03-312019-06-302019-09-30
Cash73718764311793
Accounts Receivable116141162155159169118
Inventory3091988866
PP&E253249257460221221199
Assets6386567061,1411,1291,0981,082
Accounts Payable36394946483932
Long-Term Debt115115115435415400400
Liabilities178184216546513473475
Stockholders' Equity459472491595615624607
Income Statement ($MM)2018-03-312018-06-302018-09-302018-12-312019-03-312019-06-302019-09-30
Revenue205218229230238202
Cost of Revenue164166179185167
Gross Profit364253515335
R&D
SG&A151622202219
Tax011011
Net Income2914-77176-21
Cash Flow ($MM)2018-03-312018-06-302018-09-302018-12-312019-03-312019-06-302019-09-30
Cash Operating172661269
Cash Investing-5-11-18-97
Cash Financing441-20-17-0