San Antonio-based Pioneer Energy Services Corporation's swelling debt and decline in working capital present heightened bankruptcy risk.
The oil well services/equipment leader has seen its FRISK® score decline to a bottom-dwelling "1," indicating up to a 50% chance of bankruptcy between now and July 2020:
This High Risk Report drills deep into the issues facing Pioneer Energy, including net losses and negative free cash flow in each of the last five fiscal quarters. We look into quarterly performance, leverage and liquidity ratios, as well as rates of return to understand why things have begun to look bleak.
Download the free report to learn more.
About High Risk Reports
Our High Risk Reports feature companies that are exhibiting a significantly high level of financial distress, as indicated by our proprietary FRISK® score.
The reports highlight the factors that have pushed a company's score lower on the "1" (worst) to "10" (best) FRISK® score, which is 96% accurate in predicting bankruptcy over a 12-month period. The High Risk Reports also includes analysis on financial indicators such as the company’s DBT index, stock performance, financial ratios and how it is performing relative to its industry peers.
The ultimate goal of the High Risk Report series is two-part: provide an early warning for those doing business with an increasingly distressed company and inform of the many signals that should be examined when assessing financial risks.