Intrinsic value of Frank's International - FI

Previous Close

$8.05

  Intrinsic Value

$0.97

stock screener

  Rating & Target

str. sell

-88%

Previous close

$8.05

 
Intrinsic value

$0.97

 
Up/down potential

-88%

 
Rating

str. sell

We calculate the intrinsic value of FI 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 0001), $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
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  12.30
  11.57
  10.91
  10.32
  9.79
  9.31
  8.88
  8.49
  8.14
  7.83
  7.55
  7.29
  7.06
  6.86
  6.67
  6.50
  6.35
  6.22
  6.10
  5.99
  5.89
  5.80
  5.72
  5.65
  5.58
  5.52
  5.47
  5.42
  5.38
  5.34
Revenue, $m
  511
  570
  632
  697
  766
  837
  911
  988
  1,069
  1,153
  1,240
  1,330
  1,424
  1,521
  1,623
  1,729
  1,838
  1,953
  2,072
  2,196
  2,325
  2,460
  2,600
  2,747
  2,901
  3,061
  3,228
  3,403
  3,587
  3,778
Variable operating expenses, $m
  678
  754
  834
  917
  1,004
  1,096
  1,191
  1,290
  1,393
  1,500
  1,587
  1,703
  1,823
  1,948
  2,078
  2,213
  2,353
  2,500
  2,652
  2,811
  2,976
  3,149
  3,329
  3,517
  3,713
  3,918
  4,133
  4,357
  4,591
  4,837
Fixed operating expenses, $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
Total operating expenses, $m
  678
  754
  834
  917
  1,004
  1,096
  1,191
  1,290
  1,393
  1,500
  1,587
  1,703
  1,823
  1,948
  2,078
  2,213
  2,353
  2,500
  2,652
  2,811
  2,976
  3,149
  3,329
  3,517
  3,713
  3,918
  4,133
  4,357
  4,591
  4,837
Operating income, $m
  -168
  -184
  -202
  -220
  -239
  -259
  -280
  -301
  -324
  -347
  -347
  -373
  -399
  -426
  -455
  -484
  -515
  -547
  -580
  -615
  -651
  -689
  -728
  -770
  -813
  -857
  -904
  -953
  -1,005
  -1,058
EBITDA, $m
  -28
  -32
  -35
  -39
  -43
  -46
  -51
  -55
  -59
  -64
  -69
  -74
  -79
  -85
  -90
  -96
  -102
  -108
  -115
  -122
  -129
  -137
  -144
  -153
  -161
  -170
  -179
  -189
  -199
  -210
Interest expense (income), $m
  0
  0
  1
  2
  3
  4
  5
  7
  8
  9
  11
  12
  13
  15
  17
  18
  20
  22
  24
  25
  27
  30
  32
  34
  36
  39
  41
  44
  47
  50
  53
Earnings before tax, $m
  -168
  -185
  -204
  -223
  -243
  -264
  -286
  -309
  -333
  -358
  -359
  -386
  -414
  -443
  -473
  -504
  -537
  -571
  -606
  -643
  -681
  -721
  -762
  -806
  -851
  -899
  -948
  -1,000
  -1,055
  -1,111
Tax expense, $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
Net income, $m
  -168
  -185
  -204
  -223
  -243
  -264
  -286
  -309
  -333
  -358
  -359
  -386
  -414
  -443
  -473
  -504
  -537
  -571
  -606
  -643
  -681
  -721
  -762
  -806
  -851
  -899
  -948
  -1,000
  -1,055
  -1,111

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $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
Total assets, $m
  1,213
  1,354
  1,501
  1,656
  1,818
  1,988
  2,164
  2,348
  2,539
  2,738
  2,944
  3,159
  3,382
  3,614
  3,855
  4,106
  4,367
  4,638
  4,921
  5,215
  5,522
  5,843
  6,177
  6,525
  6,890
  7,270
  7,668
  8,084
  8,519
  8,974
Adjusted assets (=assets-cash), $m
  1,213
  1,354
  1,501
  1,656
  1,818
  1,988
  2,164
  2,348
  2,539
  2,738
  2,944
  3,159
  3,382
  3,614
  3,855
  4,106
  4,367
  4,638
  4,921
  5,215
  5,522
  5,843
  6,177
  6,525
  6,890
  7,270
  7,668
  8,084
  8,519
  8,974
Revenue / Adjusted assets
  0.421
  0.421
  0.421
  0.421
  0.421
  0.421
  0.421
  0.421
  0.421
  0.421
  0.421
  0.421
  0.421
  0.421
  0.421
  0.421
  0.421
  0.421
  0.421
  0.421
  0.421
  0.421
  0.421
  0.421
  0.421
  0.421
  0.421
  0.421
  0.421
  0.421
Average production assets, $m
  723
  806
  894
  987
  1,083
  1,184
  1,289
  1,399
  1,513
  1,631
  1,754
  1,882
  2,015
  2,153
  2,296
  2,446
  2,601
  2,763
  2,931
  3,107
  3,290
  3,481
  3,680
  3,887
  4,104
  4,331
  4,568
  4,816
  5,075
  5,346
Working capital, $m
  117
  130
  145
  160
  175
  192
  209
  226
  245
  264
  284
  305
  326
  348
  372
  396
  421
  447
  474
  503
  532
  563
  595
  629
  664
  701
  739
  779
  821
  865
Total debt, $m
  22
  41
  60
  81
  102
  124
  147
  171
  196
  222
  249
  277
  307
  337
  369
  401
  436
  471
  508
  547
  587
  629
  673
  718
  766
  816
  868
  923
  980
  1,039
Total liabilities, $m
  159
  177
  197
  217
  238
  260
  283
  308
  333
  359
  386
  414
  443
  473
  505
  538
  572
  608
  645
  683
  723
  765
  809
  855
  903
  952
  1,005
  1,059
  1,116
  1,176
Total equity, $m
  1,054
  1,176
  1,305
  1,439
  1,580
  1,727
  1,881
  2,040
  2,206
  2,379
  2,559
  2,745
  2,939
  3,141
  3,350
  3,568
  3,795
  4,030
  4,276
  4,532
  4,799
  5,077
  5,368
  5,671
  5,987
  6,318
  6,664
  7,025
  7,403
  7,799
Total liabilities and equity, $m
  1,213
  1,353
  1,502
  1,656
  1,818
  1,987
  2,164
  2,348
  2,539
  2,738
  2,945
  3,159
  3,382
  3,614
  3,855
  4,106
  4,367
  4,638
  4,921
  5,215
  5,522
  5,842
  6,177
  6,526
  6,890
  7,270
  7,669
  8,084
  8,519
  8,975
Debt-to-equity ratio
  0.020
  0.030
  0.050
  0.060
  0.060
  0.070
  0.080
  0.080
  0.090
  0.090
  0.100
  0.100
  0.100
  0.110
  0.110
  0.110
  0.110
  0.120
  0.120
  0.120
  0.120
  0.120
  0.130
  0.130
  0.130
  0.130
  0.130
  0.130
  0.130
  0.130
Adjusted equity ratio
  0.869
  0.869
  0.869
  0.869
  0.869
  0.869
  0.869
  0.869
  0.869
  0.869
  0.869
  0.869
  0.869
  0.869
  0.869
  0.869
  0.869
  0.869
  0.869
  0.869
  0.869
  0.869
  0.869
  0.869
  0.869
  0.869
  0.869
  0.869
  0.869
  0.869

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -168
  -185
  -204
  -223
  -243
  -264
  -286
  -309
  -333
  -358
  -359
  -386
  -414
  -443
  -473
  -504
  -537
  -571
  -606
  -643
  -681
  -721
  -762
  -806
  -851
  -899
  -948
  -1,000
  -1,055
  -1,111
Depreciation, amort., depletion, $m
  139
  152
  166
  181
  196
  212
  229
  247
  265
  283
  278
  299
  320
  342
  365
  388
  413
  439
  465
  493
  522
  552
  584
  617
  651
  687
  725
  764
  806
  849
Funds from operations, $m
  -29
  -33
  -37
  -42
  -47
  -52
  -57
  -63
  -69
  -75
  -81
  -87
  -94
  -101
  -108
  -116
  -124
  -132
  -141
  -149
  -159
  -168
  -178
  -189
  -200
  -211
  -223
  -236
  -249
  -263
Change in working capital, $m
  13
  14
  14
  15
  16
  16
  17
  18
  18
  19
  20
  21
  22
  22
  23
  24
  25
  26
  27
  28
  30
  31
  32
  34
  35
  37
  38
  40
  42
  44
Cash from operations, $m
  -41
  -46
  -52
  -57
  -62
  -68
  -74
  -81
  -87
  -94
  -101
  -108
  -116
  -123
  -132
  -140
  -149
  -158
  -168
  -178
  -188
  -199
  -211
  -223
  -235
  -248
  -262
  -276
  -291
  -307
Maintenance CAPEX, $m
  -102
  -115
  -128
  -142
  -157
  -172
  -188
  -205
  -222
  -240
  -259
  -278
  -299
  -320
  -342
  -365
  -388
  -413
  -439
  -465
  -493
  -522
  -552
  -584
  -617
  -651
  -687
  -725
  -764
  -806
New CAPEX, $m
  -79
  -84
  -88
  -92
  -97
  -101
  -105
  -109
  -114
  -118
  -123
  -128
  -133
  -138
  -144
  -149
  -155
  -162
  -168
  -175
  -183
  -191
  -199
  -208
  -217
  -227
  -237
  -248
  -259
  -271
Cash from investing activities, $m
  -181
  -199
  -216
  -234
  -254
  -273
  -293
  -314
  -336
  -358
  -382
  -406
  -432
  -458
  -486
  -514
  -543
  -575
  -607
  -640
  -676
  -713
  -751
  -792
  -834
  -878
  -924
  -973
  -1,023
  -1,077
Free cash flow, $m
  -223
  -245
  -268
  -291
  -316
  -341
  -367
  -395
  -423
  -452
  -483
  -514
  -547
  -581
  -617
  -654
  -693
  -733
  -775
  -819
  -864
  -912
  -962
  -1,014
  -1,069
  -1,126
  -1,186
  -1,249
  -1,315
  -1,383
Issuance/(repayment) of debt, $m
  18
  18
  19
  20
  21
  22
  23
  24
  25
  26
  27
  28
  29
  30
  32
  33
  34
  36
  37
  39
  40
  42
  44
  46
  48
  50
  52
  54
  57
  60
Issuance/(repurchase) of shares, $m
  282
  307
  332
  358
  384
  412
  440
  469
  499
  531
  539
  573
  608
  644
  682
  722
  763
  806
  851
  899
  948
  999
  1,053
  1,109
  1,168
  1,230
  1,294
  1,362
  1,433
  1,507
Cash from financing (excl. dividends), $m  
  300
  325
  351
  378
  405
  434
  463
  493
  524
  557
  566
  601
  637
  674
  714
  755
  797
  842
  888
  938
  988
  1,041
  1,097
  1,155
  1,216
  1,280
  1,346
  1,416
  1,490
  1,567
Total cash flow (excl. dividends), $m
  77
  81
  84
  87
  90
  93
  96
  98
  101
  104
  83
  86
  90
  93
  97
  101
  105
  109
  114
  119
  124
  129
  134
  140
  147
  153
  160
  167
  175
  183
Retained Cash Flow (-), $m
  -282
  -307
  -332
  -358
  -384
  -412
  -440
  -469
  -499
  -531
  -539
  -573
  -608
  -644
  -682
  -722
  -763
  -806
  -851
  -899
  -948
  -999
  -1,053
  -1,109
  -1,168
  -1,230
  -1,294
  -1,362
  -1,433
  -1,507
Prev. year cash balance distribution, $m
  176
  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
  -29
  -226
  -248
  -271
  -294
  -319
  -344
  -371
  -398
  -426
  -456
  -486
  -518
  -551
  -585
  -621
  -658
  -697
  -738
  -780
  -824
  -870
  -918
  -969
  -1,021
  -1,076
  -1,134
  -1,194
  -1,258
  -1,324
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  -28
  -207
  -216
  -223
  -228
  -231
  -233
  -232
  -229
  -223
  -216
  -207
  -197
  -185
  -172
  -158
  -143
  -128
  -114
  -99
  -85
  -72
  -60
  -49
  -40
  -31
  -24
  -18
  -14
  -10
Current shareholders' claim on cash, %
  84.4
  71.5
  60.9
  52.0
  44.7
  38.5
  33.2
  28.8
  25.0
  21.8
  19.1
  16.8
  14.8
  13.0
  11.5
  10.1
  8.9
  7.9
  7.0
  6.2
  5.5
  4.8
  4.3
  3.8
  3.4
  3.0
  2.7
  2.4
  2.1
  1.9

Frank's International N.V. (FINV) is a provider of engineered tubular services, tubular fabrication and specialty well construction and well intervention solutions to the oil and gas industry. The Company operates through four business segments: International Services, U. S. Services, Tubular Sales and Blackhawk. As of December 31, 2016, the International Services segment provided tubular services in international offshore markets and in several onshore international regions in approximately 60 countries on six continents. The U.S. Services segment provides tubular services. The Blackhawk segment provides well construction and well intervention rental equipment, services and products, in addition to the cementing tool expertise, in the United States and Mexican Gulf of Mexico, onshore United States and other select international locations.

FINANCIAL RATIOS  of  Frank's International (FI)

Valuation Ratios
P/E Ratio -13.3
Price to Sales 3.7
Price to Book 1.4
Price to Tangible Book
Price to Cash Flow -162.8
Price to Free Cash Flow -33.8
Growth Rates
Sales Growth Rate -49.9%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -58%
Cap. Spend. - 3 Yr. Gr. Rate -25.7%
Financial Strength
Quick Ratio NaN
Current Ratio 0.1
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets -8.1%
Ret/ On Assets - 3 Yr. Avg. 2%
Return On Total Capital -10.7%
Ret/ On T. Cap. - 3 Yr. Avg. 3.2%
Return On Equity -10.7%
Return On Equity - 3 Yr. Avg. 3.2%
Asset Turnover 0.3
Profitability Ratios
Gross Margin 46.5%
Gross Margin - 3 Yr. Avg. 54%
EBITDA Margin -13.9%
EBITDA Margin - 3 Yr. Avg. 15.4%
Operating Margin -36.3%
Oper. Margin - 3 Yr. Avg. 1.9%
Pre-Tax Margin -37.3%
Pre-Tax Margin - 3 Yr. Avg. 1.3%
Net Profit Margin -27.7%
Net Profit Margin - 3 Yr. Avg. -1.9%
Effective Tax Rate 14.3%
Eff/ Tax Rate - 3 Yr. Avg. 21.7%
Payout Ratio -58.5%

FI stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the FI stock intrinsic value calculation we used $454.795 million for the last fiscal year's total revenue generated by Frank's International. The default revenue input number comes from 0001 income statement of Frank's International. 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 FI stock valuation model: a) initial revenue growth rate of 12.3% 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 4.3%, whose default value for FI is calculated based on our internal credit rating of Frank's International, 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 Frank's International.
    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 FI stock the variable cost ratio is equal to 133.4%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for FI 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 5.4% for Frank's International.

Corporate tax rate of 27% is the nominal tax rate for Frank's International. 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 FI 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 FI are equal to 141.5%.

Life of production assets of 6.3 years is the average useful life of capital assets used in Frank's International 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 FI is equal to 22.9%. 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 - $1115.901 million for Frank's International - 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 224.187 million for Frank's International 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 Frank's International at the current share price and the inputted number of shares is $1.8 billion.

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COMPANY NEWS

▶ Frank's International: 3Q Earnings Snapshot   [07:46AM  Associated Press]
▶ FPA Capital Fund Establishes 3 Positions in 3rd Quarter   [Oct-10-18 06:58PM  GuruFocus.com]
▶ Frank's International NV to Host Earnings Call   [Aug-08-18 09:00AM  ACCESSWIRE]
▶ Frank's International: 2Q Earnings Snapshot   [07:33AM  Associated Press]
▶ Franks International names new general counsel, other executives   [Jun-18-18 09:32AM  American City Business Journals]
▶ Frank's International: 1Q Earnings Snapshot   [May-08-18 09:29AM  Associated Press]
▶ Frank's International reports 4Q loss   [09:57AM  Associated Press]
▶ Production Cuts Lousy Panacea for Broken Oil Markets   [Dec-15-17 07:00AM  Morningstar]
▶ Frank's International meets 3Q profit forecasts   [Nov-02-17 08:07AM  Associated Press]
▶ 5 Overlooked Tech ETFs Crushing XLK   [Oct-12-17 10:49AM  Zacks]
▶ Franks International CEO departs after less than a year   [Sep-27-17 09:25AM  American City Business Journals]
▶ Frank's International reports 2Q loss   [Aug-07-17 11:57PM  Associated Press]
▶ Should You Buy Seadrill Ltd (SDRL) Stock? 3 Pros, 3 Cons   [Jun-20-17 02:06PM  InvestorPlace]
▶ 4 Houston energy companies name new CFOs   [Jun-08-17 02:40PM  American City Business Journals]
▶ Frank's International reports 1Q loss   [May-02-17 07:49AM  Associated Press]
▶ Founding family of Franks International reduces ownership stake   [Mar-23-17 03:45PM  at bizjournals.com]
▶ Founding family of Franks International reduces ownership stake   [03:45PM  American City Business Journals]
▶ Frank's International reports 4Q loss   [10:05AM  Associated Press]
▶ Houston oil field services CFO to leave company, interim named   [Feb-16-17 01:35PM  at bizjournals.com]
▶ Houston oil field services CFO to leave company, interim named   [01:35PM  American City Business Journals]
▶ Is Franks International NV (FI) a Good Stock To Buy?   [Dec-12-16 03:52PM  at Insider Monkey]

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