Intrinsic value of Diamond Offshore Drilling - DO

Previous Close

$13.27

  Intrinsic Value

premium content

  Rating & Target

premium content

  Value-price divergence*

premium content

Previous close

$13.27

 
Intrinsic value

$6.75

 
Up/down potential

-49%

 
Rating

sell

 
Value-price divergence* premium content

Premium access subscription - $499/yr

please register and log in before paying

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of DO stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 1.8

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  -33.86
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  1,600
  1,632
  1,670
  1,712
  1,761
  1,814
  1,873
  1,936
  2,005
  2,080
  2,160
  2,245
  2,336
  2,433
  2,536
  2,646
  2,761
  2,884
  3,014
  3,151
  3,296
  3,449
  3,610
  3,780
  3,959
  4,147
  4,345
  4,554
  4,774
  5,005
  5,248
Variable operating expenses, $m
 
  1,506
  1,541
  1,581
  1,625
  1,674
  1,728
  1,787
  1,851
  1,920
  1,993
  2,072
  2,156
  2,246
  2,341
  2,442
  2,549
  2,662
  2,782
  2,908
  3,042
  3,183
  3,332
  3,489
  3,654
  3,828
  4,011
  4,204
  4,406
  4,620
  4,844
Fixed operating expenses, $m
 
  504
  517
  530
  543
  557
  571
  585
  599
  614
  630
  646
  662
  678
  695
  713
  730
  749
  767
  787
  806
  826
  847
  868
  890
  912
  935
  958
  982
  1,007
  1,032
Total operating expenses, $m
  1,957
  2,010
  2,058
  2,111
  2,168
  2,231
  2,299
  2,372
  2,450
  2,534
  2,623
  2,718
  2,818
  2,924
  3,036
  3,155
  3,279
  3,411
  3,549
  3,695
  3,848
  4,009
  4,179
  4,357
  4,544
  4,740
  4,946
  5,162
  5,388
  5,627
  5,876
Operating income, $m
  -357
  -379
  -388
  -398
  -408
  -417
  -426
  -436
  -445
  -454
  -464
  -473
  -482
  -491
  -500
  -509
  -518
  -527
  -535
  -544
  -552
  -561
  -569
  -577
  -585
  -593
  -600
  -608
  -615
  -621
  -628
EBITDA, $m
  25
  12
  11
  12
  14
  17
  22
  28
  35
  44
  54
  65
  78
  92
  107
  125
  143
  164
  186
  211
  237
  265
  295
  328
  363
  400
  440
  483
  528
  577
  629
Interest expense (income), $m
  106
  97
  100
  103
  106
  110
  114
  118
  123
  129
  134
  140
  147
  154
  162
  170
  178
  187
  196
  206
  217
  228
  240
  252
  266
  279
  294
  309
  325
  342
  360
Earnings before tax, $m
  -468
  -476
  -488
  -501
  -513
  -527
  -540
  -554
  -568
  -583
  -598
  -613
  -629
  -645
  -661
  -678
  -696
  -713
  -732
  -750
  -769
  -789
  -809
  -830
  -851
  -872
  -894
  -917
  -940
  -964
  -988
Tax expense, $m
  -95
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  -373
  -476
  -488
  -501
  -513
  -527
  -540
  -554
  -568
  -583
  -598
  -613
  -629
  -645
  -661
  -678
  -696
  -713
  -732
  -750
  -769
  -789
  -809
  -830
  -851
  -872
  -894
  -917
  -940
  -964
  -988

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  156
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  6,372
  6,350
  6,496
  6,663
  6,851
  7,058
  7,286
  7,534
  7,803
  8,092
  8,403
  8,735
  9,090
  9,467
  9,868
  10,294
  10,745
  11,223
  11,728
  12,261
  12,825
  13,419
  14,046
  14,707
  15,403
  16,136
  16,908
  17,721
  18,576
  19,476
  20,422
Adjusted assets (=assets-cash), $m
  6,216
  6,350
  6,496
  6,663
  6,851
  7,058
  7,286
  7,534
  7,803
  8,092
  8,403
  8,735
  9,090
  9,467
  9,868
  10,294
  10,745
  11,223
  11,728
  12,261
  12,825
  13,419
  14,046
  14,707
  15,403
  16,136
  16,908
  17,721
  18,576
  19,476
  20,422
Revenue / Adjusted assets
  0.257
  0.257
  0.257
  0.257
  0.257
  0.257
  0.257
  0.257
  0.257
  0.257
  0.257
  0.257
  0.257
  0.257
  0.257
  0.257
  0.257
  0.257
  0.257
  0.257
  0.257
  0.257
  0.257
  0.257
  0.257
  0.257
  0.257
  0.257
  0.257
  0.257
  0.257
Average production assets, $m
  6,053
  6,174
  6,316
  6,478
  6,660
  6,862
  7,084
  7,325
  7,586
  7,868
  8,170
  8,493
  8,837
  9,204
  9,594
  10,008
  10,447
  10,911
  11,402
  11,921
  12,468
  13,046
  13,656
  14,298
  14,975
  15,688
  16,439
  17,229
  18,060
  18,935
  19,855
Working capital, $m
  165
  116
  119
  122
  125
  129
  133
  137
  142
  148
  153
  159
  166
  173
  180
  188
  196
  205
  214
  224
  234
  245
  256
  268
  281
  294
  309
  323
  339
  355
  373
Total debt, $m
  2,085
  2,035
  2,094
  2,162
  2,238
  2,322
  2,414
  2,514
  2,623
  2,740
  2,866
  3,001
  3,144
  3,297
  3,460
  3,632
  3,815
  4,008
  4,213
  4,429
  4,657
  4,898
  5,152
  5,419
  5,701
  5,998
  6,311
  6,640
  6,986
  7,351
  7,734
Total liabilities, $m
  2,622
  2,572
  2,631
  2,699
  2,775
  2,859
  2,951
  3,051
  3,160
  3,277
  3,403
  3,538
  3,681
  3,834
  3,997
  4,169
  4,352
  4,545
  4,750
  4,966
  5,194
  5,435
  5,689
  5,956
  6,238
  6,535
  6,848
  7,177
  7,523
  7,888
  8,271
Total equity, $m
  3,750
  3,778
  3,865
  3,965
  4,076
  4,200
  4,335
  4,483
  4,643
  4,815
  5,000
  5,197
  5,408
  5,633
  5,872
  6,125
  6,393
  6,677
  6,978
  7,295
  7,631
  7,984
  8,357
  8,750
  9,165
  9,601
  10,060
  10,544
  11,053
  11,588
  12,151
Total liabilities and equity, $m
  6,372
  6,350
  6,496
  6,664
  6,851
  7,059
  7,286
  7,534
  7,803
  8,092
  8,403
  8,735
  9,089
  9,467
  9,869
  10,294
  10,745
  11,222
  11,728
  12,261
  12,825
  13,419
  14,046
  14,706
  15,403
  16,136
  16,908
  17,721
  18,576
  19,476
  20,422
Debt-to-equity ratio
  0.556
  0.540
  0.540
  0.550
  0.550
  0.550
  0.560
  0.560
  0.570
  0.570
  0.570
  0.580
  0.580
  0.590
  0.590
  0.590
  0.600
  0.600
  0.600
  0.610
  0.610
  0.610
  0.620
  0.620
  0.620
  0.620
  0.630
  0.630
  0.630
  0.630
  0.640
Adjusted equity ratio
  0.595
  0.595
  0.595
  0.595
  0.595
  0.595
  0.595
  0.595
  0.595
  0.595
  0.595
  0.595
  0.595
  0.595
  0.595
  0.595
  0.595
  0.595
  0.595
  0.595
  0.595
  0.595
  0.595
  0.595
  0.595
  0.595
  0.595
  0.595
  0.595
  0.595
  0.595

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -373
  -476
  -488
  -501
  -513
  -527
  -540
  -554
  -568
  -583
  -598
  -613
  -629
  -645
  -661
  -678
  -696
  -713
  -732
  -750
  -769
  -789
  -809
  -830
  -851
  -872
  -894
  -917
  -940
  -964
  -988
Depreciation, amort., depletion, $m
  382
  391
  400
  410
  422
  434
  448
  464
  480
  498
  517
  538
  559
  583
  607
  633
  661
  691
  722
  754
  789
  826
  864
  905
  948
  993
  1,040
  1,090
  1,143
  1,198
  1,257
Funds from operations, $m
  735
  -85
  -88
  -91
  -92
  -92
  -92
  -90
  -88
  -85
  -81
  -76
  -70
  -62
  -54
  -45
  -35
  -23
  -10
  4
  20
  37
  55
  75
  97
  121
  146
  174
  203
  235
  269
Change in working capital, $m
  88
  2
  3
  3
  3
  4
  4
  5
  5
  5
  6
  6
  6
  7
  7
  8
  8
  9
  9
  10
  10
  11
  11
  12
  13
  13
  14
  15
  16
  16
  17
Cash from operations, $m
  647
  -413
  -91
  -94
  -95
  -96
  -96
  -95
  -93
  -90
  -86
  -82
  -76
  -69
  -62
  -53
  -43
  -32
  -19
  -6
  9
  26
  44
  63
  84
  107
  132
  159
  187
  218
  251
Maintenance CAPEX, $m
  0
  -383
  -391
  -400
  -410
  -422
  -434
  -448
  -464
  -480
  -498
  -517
  -538
  -559
  -583
  -607
  -633
  -661
  -691
  -722
  -754
  -789
  -826
  -864
  -905
  -948
  -993
  -1,040
  -1,090
  -1,143
  -1,198
New CAPEX, $m
  -653
  -121
  -142
  -162
  -182
  -202
  -222
  -241
  -261
  -281
  -302
  -323
  -345
  -367
  -390
  -414
  -439
  -464
  -491
  -519
  -548
  -578
  -609
  -642
  -677
  -713
  -751
  -790
  -831
  -875
  -920
Cash from investing activities, $m
  -426
  -504
  -533
  -562
  -592
  -624
  -656
  -689
  -725
  -761
  -800
  -840
  -883
  -926
  -973
  -1,021
  -1,072
  -1,125
  -1,182
  -1,241
  -1,302
  -1,367
  -1,435
  -1,506
  -1,582
  -1,661
  -1,744
  -1,830
  -1,921
  -2,018
  -2,118
Free cash flow, $m
  221
  -917
  -624
  -656
  -688
  -720
  -752
  -785
  -818
  -852
  -886
  -922
  -958
  -996
  -1,034
  -1,074
  -1,115
  -1,157
  -1,201
  -1,246
  -1,293
  -1,341
  -1,391
  -1,443
  -1,497
  -1,553
  -1,611
  -1,672
  -1,734
  -1,799
  -1,867
Issuance/(repayment) of debt, $m
  -182
  54
  59
  68
  76
  84
  92
  100
  109
  117
  126
  135
  144
  153
  162
  172
  183
  193
  205
  216
  228
  241
  254
  268
  282
  297
  313
  329
  346
  364
  383
Issuance/(repurchase) of shares, $m
  0
  892
  651
  687
  723
  759
  795
  832
  869
  907
  945
  985
  1,026
  1,067
  1,110
  1,155
  1,200
  1,248
  1,297
  1,347
  1,400
  1,454
  1,511
  1,569
  1,630
  1,693
  1,758
  1,826
  1,897
  1,970
  2,047
Cash from financing (excl. dividends), $m  
  -183
  946
  710
  755
  799
  843
  887
  932
  978
  1,024
  1,071
  1,120
  1,170
  1,220
  1,272
  1,327
  1,383
  1,441
  1,502
  1,563
  1,628
  1,695
  1,765
  1,837
  1,912
  1,990
  2,071
  2,155
  2,243
  2,334
  2,430
Total cash flow (excl. dividends), $m
  37
  -863
  -565
  -588
  -612
  -635
  -660
  -684
  -709
  -734
  -761
  -787
  -815
  -843
  -872
  -901
  -932
  -964
  -996
  -1,030
  -1,065
  -1,100
  -1,138
  -1,176
  -1,215
  -1,256
  -1,299
  -1,343
  -1,388
  -1,435
  -1,484
Retained Cash Flow (-), $m
  363
  -80
  -87
  -99
  -112
  -124
  -136
  -148
  -160
  -172
  -185
  -198
  -211
  -225
  -239
  -253
  -268
  -284
  -300
  -317
  -335
  -354
  -373
  -393
  -414
  -436
  -459
  -484
  -509
  -535
  -563
Prev. year cash balance distribution, $m
 
  52
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Discount rate, %
 
  6.10
  6.41
  6.73
  7.06
  7.41
  7.79
  8.17
  8.58
  9.01
  9.46
  9.94
  10.43
  10.95
  11.50
  12.08
  12.68
  13.32
  13.98
  14.68
  15.41
  16.19
  16.99
  17.84
  18.74
  19.67
  20.66
  21.69
  22.77
  23.91
  25.11
PV of cash for distribution, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  100
  74.4
  59.7
  47.6
  37.8
  29.8
  23.5
  18.4
  14.4
  11.3
  8.8
  6.9
  5.4
  4.2
  3.3
  2.5
  2.0
  1.6
  1.2
  1.0
  0.7
  0.6
  0.5
  0.4
  0.3
  0.2
  0.2
  0.1
  0.1
  0.1
  0.1

Diamond Offshore Drilling, Inc. provides contract drilling services to the energy industry worldwide. It provides services in floater market, including ultra-deepwater, deepwater, and mid-water. The company operates a fleet of 24 offshore drilling rigs, which comprise 4 drillships, 8 ultra-deepwater, 6 deepwater, 5 mid-water semisubmersibles, and 1 jack-up rig. It serves independent oil and gas companies, and government-owned oil companies. The company was founded in 1989 and is headquartered in Houston, Texas. Diamond Offshore Drilling, Inc. is a subsidiary of Loews Corporation.

FINANCIAL RATIOS  of  Diamond Offshore Drilling (DO)

Valuation Ratios
P/E Ratio -4.9
Price to Sales 1.1
Price to Book 0.5
Price to Tangible Book
Price to Cash Flow 2.8
Price to Free Cash Flow -303.4
Growth Rates
Sales Growth Rate -33.9%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -21.4%
Cap. Spend. - 3 Yr. Gr. Rate -7.4%
Financial Strength
Quick Ratio 2
Current Ratio 0.3
LT Debt to Equity 52.8%
Total Debt to Equity 55.6%
Interest Coverage -3
Management Effectiveness
Return On Assets -4.3%
Ret/ On Assets - 3 Yr. Avg. -0.3%
Return On Total Capital -6.1%
Ret/ On T. Cap. - 3 Yr. Avg. -1.6%
Return On Equity -9.5%
Return On Equity - 3 Yr. Avg. -2.5%
Asset Turnover 0.2
Profitability Ratios
Gross Margin 48.1%
Gross Margin - 3 Yr. Avg. 46.2%
EBITDA Margin 1.3%
EBITDA Margin - 3 Yr. Avg. 16.6%
Operating Margin -22.3%
Oper. Margin - 3 Yr. Avg. -4.7%
Pre-Tax Margin -29.3%
Pre-Tax Margin - 3 Yr. Avg. -8.9%
Net Profit Margin -23.3%
Net Profit Margin - 3 Yr. Avg. -7%
Effective Tax Rate 20.3%
Eff/ Tax Rate - 3 Yr. Avg. 24.4%
Payout Ratio 0%

DO stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the DO stock intrinsic value calculation we used $1600 million for the last fiscal year's total revenue generated by Diamond Offshore Drilling. The default revenue input number comes from 2016 income statement of Diamond Offshore Drilling. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our DO stock valuation model: a) initial revenue growth rate of 2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 6.1%, whose default value for DO is calculated based on our internal credit rating of Diamond Offshore Drilling, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Diamond Offshore Drilling.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of DO stock the variable cost ratio is equal to 92.3%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $492 million in the base year in the intrinsic value calculation for DO stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 4.9% for Diamond Offshore Drilling.

Corporate tax rate of 27% is the nominal tax rate for Diamond Offshore Drilling. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the DO stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for DO are equal to 378.3%.

Life of production assets of 15.8 years is the average useful life of capital assets used in Diamond Offshore Drilling operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for DO is equal to 7.1%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $3750 million for Diamond Offshore Drilling - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 138.839 million for Diamond Offshore Drilling is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Diamond Offshore Drilling at the current share price and the inputted number of shares is $1.8 billion.


Premium access subscription - $499/yr

please register and log in before paying
RELATED COMPANIES Price Int.Val. Rating
ATW Atwood Oceanic 8.38 prem.  prem.
RIG Transocean 10.46 prem.  prem.
SLB Schlumberger 71.43 prem.  prem.
PACD Pacific Drilli 2.07 prem.  prem.
ESV ENSCO 7.44 prem.  prem.
RDC Rowan Cos. 13.53 prem.  prem.

COMPANY NEWS

▶ US Natural Gas Rig Count Hit December 2016 High   [May-12-17 04:05PM  Market Realist]
▶ Diamond Offshore Is a Medium-Term Opportunity   [May-02-17 01:56PM  GuruFocus.com]
▶ Why These OFS Stocks Could Be a Concern   [01:05PM  Market Realist]
▶ US Crude Oil Rig Count Hit a 2-Year High   [07:52AM  Market Realist]
▶ Market Recon: Another Fed Meeting Beckons   [07:17AM  TheStreet.com]
▶ Diamond Offshore Drilling posts 1Q profit   [06:04AM  Associated Press]
▶ Diamond Offshore's Profit Beats Estimates On Lower Costs   [Apr-30-17 08:00PM  Rigzone.com]
▶ US Natural Gas Rig Count Hit a 16-Month High   [07:40AM  Market Realist]
▶ Why Do These OFS Stocks Look Weak?   [Apr-26-17 01:35PM  Market Realist]
▶ Diamond Offshores 1Q17: Your Earnings Preview   [Apr-25-17 05:08PM  Market Realist]
▶ US Natural Gas Rig Count Hit December 2015 High   [Apr-21-17 10:04AM  Market Realist]
▶ Why These OFS Stocks Could Be Bearish   [Apr-18-17 12:05PM  Market Realist]
▶ US Natural Gas Rig Count Hit a 16-Month High   [Apr-17-17 10:24AM  Market Realist]
▶ US Crude Oil Rig Count Hit April 2015 High   [08:41AM  Market Realist]
▶ Loews to Buy Consolidated Container for $1.2 Bln   [Apr-11-17 01:32PM  Investopedia]
▶ US Crude Oil Rig Count Hit a 19-Month High   [08:53AM  Market Realist]
▶ US Natural Gas Rig Count at Its Highest since December 2015   [Apr-07-17 10:29AM  Market Realist]
▶ Why Traders Are Bearish on These OFS Stocks   [Apr-06-17 11:35AM  Market Realist]
▶ US Crude Oil Rig Count: Will It Pressure Crude Oil Prices?   [Apr-03-17 09:35AM  Market Realist]
▶ Who Will Survive Our Offshore Drilling Comparison?   [Mar-31-17 12:34PM  Market Realist]
▶ Analysts Revise Seadrill and Transoceans Target Prices   [Mar-27-17 10:36AM  Market Realist]
▶ Shorting OFS: What Short Interest Means for OFS Stocks   [Mar-22-17 02:06PM  Market Realist]
▶ Transocean: Be Aggressive?!?!   [10:15AM  at Barrons.com]
▶ US Crude Oil Rig Count Hit an 18-Month High   [08:27AM  Market Realist]
▶ RigNet Inc. Finally Hits Bottom   [Mar-07-17 07:36PM  at Motley Fool]
Stock chart of DO Financial statements of DO Annual reports of DO
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

FREE DOWNLOAD
Follow us on:   twitter   twitter   twitter   twitter

VALUATION THEORY       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2017. All rigths reserved.