OverviewSuggest Edit

McDermott is a provider of engineering, procurement, construction and installation and technology solutions to the energy industry. It delivers petrochemical, refining, gasification, and gas processing technologies. The company also offers offshore oil and gas production systems, subsea production systems, onshore oil and gas field production, onshore and offshore pipelines, and natural gas processing. McDermott provides a range of EPC services for the LNG industry comprising liquefaction plants, regasification terminals, peak shaving facilities, storage tanks, and FLNG topsides. McDermott operates through five segments: NCSA, EARC, MENA, APAC, and Technology.




TypePublic
Founded1923
HQHouston, US
Websitemcdermott.com
Employee Ratings3.5
Overall CultureD-

Latest Updates

Employees (est.) (Dec 2018)31,900(+171%)
Job Openings43
Revenue (FY, 2019)$8.4 B(+26%)
Share Price (Jan 2020)$0.1 (-10%)
Cybersecurity ratingBMore

Key People/Management at McDermott

David Dickson

David Dickson

President & Chief Executive Officer, Director
Kevin Hargrove

Kevin Hargrove

Vice President and Treasurer
Samik Mukherjee

Samik Mukherjee

Group Senior Vice President, Projects
Chris Krummel

Chris Krummel

Executive Vice President, Chief Financial Officer
John M. Freeman

John M. Freeman

Executive Vice President and Chief Legal Officer
Brian McLaughlin

Brian McLaughlin

Senior Vice President and Chief Commercial Officer
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McDermott Office Locations

McDermott has offices in Houston, Alpharetta, Bloomfield, Bourbonnais and in 49 other locations
Houston, US (HQ)
915 N Eldridge Pkwy
Alpharetta, US
11560 Great Oaks Way #500
Bloomfield, US
1515 Broad St
Bourbonnais, US
1035 5000 N
Canton, US
150 Royall St
Charlotte, US
500 E Morehead St #400
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McDermott Financials and Metrics

McDermott Revenue

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McDermott's revenue was reported to be $8.43 b in FY, 2019 which is a 25.7% increase from the previous period.
USD

Revenue (Q1, 2020)

1.9b

Gross profit (Q1, 2020)

50.0m

Gross profit margin (Q1, 2020), %

2.6%

Net income (Q1, 2020)

(1.4b)

EBIT (Q1, 2020)

(1.1b)

Market capitalization (22-Jan-2020)

127.9m

Closing stock price (22-Jan-2020)

0.7

Cash (31-Mar-2020)

1.2b

EV

1.4b
McDermott's current market capitalization is $127.9 m.
Annual
USDFY, 2017FY, 2018FY, 2019

Revenue

3.0b6.7b8.4b

Revenue growth, %

13%125%26%

Cost of goods sold

2.4b6.2b8.2b

Gross profit

535.3m518.0m187.0m
Quarterly
USDQ1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020

Revenue

519.4m788.7m958.5m607.8m1.7b2.3b2.2b2.1b2.1b1.9b

Cost of goods sold

428.6m650.4m773.9m475.7m1.5b2.0b2.0b2.0b2.2b1.9b

Gross profit

90.8m138.2m184.6m132.1m237.0m273.0m183.0m178.0m(59.0m)50.0m

Gross profit Margin, %

17%18%19%22%14%12%8%8%(3%)3%
Annual
USDFY, 2017FY, 2018FY, 2019

Cash

390.3m520.0m800.0m

Accounts Receivable

328.3m932.0m1.1b

Inventories

101.0m52.0m

Current Assets

1.4b3.0b3.6b
Quarterly
USDQ1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020

Cash

623.5m393.7m416.4m412.7m814.0m580.0m413.0m455.0m677.0m1.2b

Accounts Receivable

199.3m331.3m263.1m395.1m968.0m1.1b977.0m1.0b935.0m832.0m

Inventories

48.0m58.0m106.0m42.0m52.0m

Current Assets

1.4b1.4b1.6b1.4b3.5b3.4b3.2b3.2b3.5b6.2b
Annual
USDFY, 2017FY, 2018FY, 2019

Net Income

177.2m(2.7b)(2.9b)

Depreciation and Amortization

100.7m279.0m267.0m

Inventories

(24.0m)

Accounts Payable

105.4m(156.0m)497.0m
Quarterly
USDQ1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020

Net Income

24.2m60.7m153.6m34.1m79.0m79.0m(57.0m)(171.0m)(2.0b)(1.4b)

Depreciation and Amortization

21.4m49.7m78.0m22.8m80.0m187.0m76.0m137.0m200.0m60.0m

Inventories

14.0m4.0m(23.0m)

Accounts Payable

95.3m260.1m338.9m(89.6m)129.0m123.0m357.0m545.0m680.0m(293.0m)
USDQ1, 2017

EV/EBIT

31.8 x

EV/CFO

36.8 x

Debt/Equity

0.5 x

Debt/Assets

0.2 x

Financial Leverage

2 x

P/E Ratio

253.1
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McDermott Operating Metrics

McDermott's Backlog was reported to be $16.4b in Q1, 2020.
Q1, 2016Q2, 2016Q3, 2016Q4, 2016Q1, 2017Q2, 2017Q3, 2017Q4, 2017FY, 2017Q1, 2018Q2, 2018Q3, 2018Q4, 2018Q1, 2019Q2, 2019Q3, 2019FY, 2019Q1, 2020

New Orders

$289.80 m$2.56 b$321.20 m$842 m$3.05 b$1.43 b$6.67 b$7.31 b$1.66 b

Backlog

$3.84 b$4.37 b$3.92 b$4.32 b$3.90 b$3.30 b$2.43 b$3.90 b$3.39 b$10.19 b$11.51 b$10.91 b$15.38 b$20.55 b$20.08 b$18.64 b$16.38 b

Book-to-Bill Ratio

340%90%50%130%70%300%340%80%

New Orders (North, Central and South America)

$462 m$2.30 b$404 m$4.31 b$800 m$581 m
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McDermott Acquisitions / Subsidiaries

Company NameDateDeal Size
Chicago Bridge and IronMay 10, 2018$2.87 b
CB&IDecember 19, 2017
CBI Company B.V.
CBI Company Two B.V.
CB&I Group Inc.
CB&I Holdco, LLC
CBI HoldCo Two Inc.
CB&I LLC
CB&I Nederland B. V.
CB&I Oil & Gas Europe B. V.
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McDermott Revenue Breakdown

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McDermott revenue breakdown by business segment: 54.9% from North, Central and South America, 7.9% from Asia Pacific, 21.2% from Middle East and North Africa, 9.0% from Europe, Africa, Russia and Caspian and 7.0% from Technology

McDermott revenue breakdown by geographic segment: 5.5% from Qatar, 10.3% from Other Countries, 11.8% from Saudi Arabia, 52.6% from United States and 19.7% from Other

McDermott Cybersecurity Score

Cybersecurity ratingPremium dataset

B

89/100

SecurityScorecard logo

McDermott Online and Social Media Presence

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McDermott Company Culture

  • Overall Culture

    D-

    51/100

  • CEO Rating

    D

    60/100

  • Compensation

    F

    33/100

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McDermott News and Updates

McDermott receives DAR Community Service Award

Grand Canyon Member Carol McDermott recently received the DAR Community Service Award presented by Tochia Levine, community service committee chair. Ms. McDermott received the Peer Leadership Award from the Arizona State University Center for Applied Behavioral Health Policy, according to a press …

McDermott Announces Second Shipment of MODEC FPSO Modules

McDermott International, Ltd today announced the second shipment of topside modules for a floating production storage and offloading (FPSO) unit for MODEC, Inc. (MODEC). It comes just weeks after the first shipment of modules sailed away from McDermott's Altamira fabrication facility located in Mexi…

McDermott Obtains Landmark "No-Action" Relief for Two Ocean Trust Concerning Digital Asset Custody

CHICAGO, Oct. 26, 2020 /PRNewswire/ -- International law firm McDermott Will & Emery assisted Two Ocean Trust in obtaining landmark "no-action" relief from the Wyoming Division of Banking, stating that Two Ocean Trust is permitted to custody digital assets. Two Ocean Trust provides a...

Neil Bruce Appointed to McDermott Board of Directors

McDermott International, Ltd today announced that industry-veteran Neil Bruce has joined its Board of Directors. Mr. Bruce brings 40 years of senior executive experience, including an extensive track record in the delivery of large, world-class projects to global clients in the resources, energy an…

McDermott, Schneider Electric and io consulting Join Forces to Develop Net Zero Upstream Facilities

McDermott International, Ltd, Schneider Electric and io consulting today announced a collaboration to advance research and design of carbon-neutral facilities for the upstream oil and natural gas market. The three companies will combine their capabilities and resources to explore and develop a proof…

McDermott Announces Shipment of First MODEC FPSO Modules

McDermott International, Ltd today announced the first shipment of topside modules for a floating production storage and offloading (FPSO) unit for MODEC, Inc. (MODEC).
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McDermott Frequently Asked Questions

  • When was McDermott founded?

    McDermott was founded in 1923.

  • Who are McDermott key executives?

    McDermott's key executives are David Dickson, Kevin Hargrove and Samik Mukherjee.

  • How many employees does McDermott have?

    McDermott has 31,900 employees.

  • What is McDermott revenue?

    Latest McDermott annual revenue is $8.4 b.

  • What is McDermott revenue per employee?

    Latest McDermott revenue per employee is $264.3 k.

  • Who are McDermott competitors?

    Competitors of McDermott include Saipem, Bechtel and Jacobs.

  • Where is McDermott headquarters?

    McDermott headquarters is located at 915 N Eldridge Pkwy, Houston.

  • Where are McDermott offices?

    McDermott has offices in Houston, Alpharetta, Bloomfield, Bourbonnais and in 49 other locations.

  • How many offices does McDermott have?

    McDermott has 71 offices.