McDermott

OverviewSuggest Edit

McDermott is a company that provides engineering, procurement, construction, installation, and technology solutions to the energy industry. It operates through five segments: NCSA, EARC, MENA, APAC, and Technology. The company specializes in petrochemical, refining, gasification, and gas processing technologies. It offers related engineering, fabrication, and assembly services, marine construction vessels, onshore construction services, supply chain management, and CB&I storage solutions. McDermott provides a range of EPC services for the LNG industry comprising liquefaction plants, regasification terminals, peak shaving facilities, storage tanks, and FLNG topsides.
TypePrivate
Founded1923
HQHouston, TX, US
Websitemcdermott.com
Employee Ratings3.6
Overall CultureD+

Latest Updates

Employees (est.) (Dec 2019)42,600(+34%)
Job Openings210
Revenue (FY, 2019)$8.4 B(+26%)
Share Price (Jan 2020)$0.1(-10%)
Cybersecurity ratingBMore

Key People/Management at McDermott

Samik Mukherjee

Samik Mukherjee

EVP & Chief Operating Officer , Executive Committee Member
Dennis Kelleher

Dennis Kelleher

Executive Vice President, Chief Financial Officer
Gentry Brann

Gentry Brann

Senior Vice President, People, Culture and Communications
Neil Gunnion

Neil Gunnion

Senior Vice President - Project Execution and Delivery , Head of Country and Vice President - Qatar
Mark Coscio

Mark Coscio

Senior Vice President, North Central and South America
Tareq Kawash

Tareq Kawash

Senior Vice President, Europe, Middle East and Africa
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McDermott Office Locations

McDermott has offices in Houston, Alpharetta, Bourbonnais, Charlotte and in 36 other locations
Houston, TX, US (HQ)
915 N Eldridge Pkwy
Alpharetta, GA, US
11560 Great Oaks Way #500
Bourbonnais, IL, US
1035 5000 N
Charlotte, NC, US
500 E Morehead St #400
Clearfield, UT, US
210 E 700 S
Clive, IA, US
9600 Hickman Rd
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McDermott Financials and Metrics

Summary Metrics

Founding Date

1923
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McDermott Revenue

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View revenue for all periods
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)

Cash (31-Mar-2020)

1.2b
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, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020

Revenue

607.8m1.7b2.3b2.2b2.1b2.1b1.9b

Cost of goods sold

475.7m1.5b2.0b2.0b2.0b2.2b1.9b

Gross profit

132.1m237.0m273.0m183.0m178.0m(59.0m)50.0m

Gross profit Margin, %

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, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020

Cash

412.7m814.0m580.0m413.0m455.0m677.0m1.2b

Accounts Receivable

395.1m968.0m1.1b977.0m1.0b935.0m832.0m

Inventories

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

Current Assets

1.4b3.5b3.4b3.2b3.2b3.5b6.2b
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, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020

Net Income

34.1m79.0m79.0m(57.0m)(171.0m)(2.0b)(1.4b)

Depreciation and Amortization

22.8m80.0m187.0m76.0m137.0m200.0m60.0m

Inventories

14.0m4.0m(23.0m)

Accounts Payable

(89.6m)129.0m123.0m357.0m545.0m680.0m(293.0m)
USDFY, 2017

Revenue/Employee

252.9k

Debt/Equity

0.3 x

Debt/Assets

0.2 x

Financial Leverage

1.8 x
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McDermott Operating Metrics

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

New Orders

$2.56 b$321.2 m$842 m$3.05 b$1.43 b$6.67 b$7.31 b$1.66 b

Backlog

$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

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

New Orders (North, Central and South America)

$462 m$2.3 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

88/100

SecurityScorecard logo

McDermott Online and Social Media Presence

Embed Graph

McDermott Company Culture

  • Overall Culture

    D+

    61/100

  • CEO Rating

    D

    60/100

  • Compensation

    D-

    45/100

Learn more on Comparably

McDermott News and Updates

McDermott Installs Offshore Platform in Vietnam

Offshore installation firm McDermott has completed the transportation and installation of a central processing platform jacket, wellhead service deck, and conducted topside floatover as part of an Idemitsu-operated offshore project in Vietnam.

McDermott Installs Largest and Heaviest Jacket and CPP Topside in Vietnam

HOUSTON, Sept. 2, 2021 /PRNewswire/ -- McDermott has completed the transportation and installation subcontract of the Sao Vang and Dai Nguyet (SVDN) gas and condensate field developments in the Nam Con Son Basin, offshore Vietnam. The EPCIC contractor was PetroVietnam Technical Services...

McDermott Launches Singapore Office as Asia Pacific Client Base Expands

International law firm McDermott Will & Emery has, following Ministry of Law approval, announced today it has established a physical presence in Singapore. The office is based in the Raffles Place area at the heart of Singapore's business district.

McDermott Launches Singapore Office as Asia Pacific Client Base Expands

McDermott Launches Singapore Office as Asia Pacific Client Base Expands

ADNOC Signs Framework Agreements Worth Nearly $1 Billion for Project Engineering Services

Delighted to have been selected by ADNOC for the award of a five-year engineering services framework under which McDermott will continue providing front end engineering services to the family of ADNOC operating companies. This reinforces McDermott’s position as a premier front end engineering contra…

McDermott wins mega contract for Tupi riser titanium solution

Brazil's Petrobras awards US-based company $800 million contract to implement pioneering technology at pre-salt field
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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 Samik Mukherjee, Dennis Kelleher and Gentry Brann.

  • How many employees does McDermott have?

    McDermott has 42,600 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 $197.9 k.

  • Who are McDermott competitors?

    Competitors of McDermott include TechnipFMC, Fluor and Honeywell.

  • Where is McDermott headquarters?

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

  • Where are McDermott offices?

    McDermott has offices in Houston, Alpharetta, Bourbonnais, Charlotte and in 36 other locations.

  • How many offices does McDermott have?

    McDermott has 48 offices.