$1.9 B

McDermott Revenue Q1, 2020
McDermott Gross profit (Q1, 2020)50 M
McDermott Gross profit margin (Q1, 2020), %2.6%
McDermott Net income (Q1, 2020)-1.4 B
McDermott EBIT (Q1, 2020)-1.1 B
McDermott Cash, 31-Mar-20201.2 B
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McDermott Revenue

McDermott revenue was $8.43 b in FY, 2019 which is a 25.7% year over year increase from the previous period.

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McDermott Funding

Summary Metrics

Founding Date

1923

McDermott Revenue Breakdown

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

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

McDermott Income Statement

Annual

USDFY, 2018FY, 2019

Revenue

6.7b8.4b

Revenue growth, %

125%26%

Cost of goods sold

6.2b8.2b

Gross profit

518.0m187.0m

Gross profit Margin, %

8%2%

R&D expense

20.0m36.0m

General and administrative expense

282.0m284.0m

Operating expense total

364.0m407.0m

Depreciation and amortization

62.0m87.0m

EBIT

(2.3b)(2.1b)

EBIT margin, %

(34%)(25%)

Interest expense

259.0m735.0m

Investment income

13.0m34.0m

Pre tax profit

(2.6b)(2.8b)

Income tax expense

104.0m58.0m

Net Income

(2.7b)(2.9b)

EPS

(17.9)(16.3)

Quarterly

USDQ1, 2019Q2, 2019Q3, 2019Q1, 2020

Revenue

2.1b2.1b2.1b1.9b

Cost of goods sold

1.9b2.0b2.2b1.9b

Gross profit

130.0m178.0m(59.0m)50.0m

Gross profit Margin, %

6%8%(3%)3%

R&D expense

2.0m8.0m9.0m2.0m

General and administrative expense

68.0m77.0m40.0m62.0m

Operating expense total

81.0m107.0m70.0m72.0m

Depreciation and amortization

11.0m22.0m21.0m8.0m

EBIT

(25.0m)(61.0m)(1.7b)(1.1b)

EBIT margin, %

(1%)(3%)(79%)(55%)

Interest expense

92.0m100.0m108.0m56.0m

Investment income

3.0m7.0m

Pre tax profit

(116.0m)(163.0m)(1.8b)(1.3b)

Income tax expense

(21.0m)(49.0m)72.0m8.0m

Net Income

(57.0m)(114.0m)(1.9b)(1.4b)

EPS

(0.6)(0.8)(10.4)(7.1)

McDermott Balance Sheet

Annual

USDFY, 2018FY, 2019

Cash

520.0m800.0m

Accounts Receivable

932.0m1.1b

Inventories

101.0m52.0m

Current Assets

3.0b3.6b

PP&E

2.1b2.1b

Goodwill

2.7b1.3b

Total Assets

9.4b8.7b

Accounts Payable

595.0m1.1b

Short-term debt

38.0m5.3b

Current Liabilities

4.2b9.4b

Long-term debt

3.5b304.0m

Total Debt

3.5b5.6b

Total Liabilities

8.4b10.6b

Common Stock

183.0m196.0m

Preferred Stock

230.0m290.0m

Additional Paid-in Capital

3.5b3.6b

Retained Earnings

(2.7b)(5.7b)

Total Equity

823.0m(2.1b)

Debt to Equity Ratio

4.2 x-2.6 x

Debt to Assets Ratio

0.4 x0.6 x

Financial Leverage

11.5 x-4.1 x

Quarterly

USDQ1, 2019Q2, 2019Q3, 2019Q1, 2020

Cash

413.0m455.0m677.0m1.2b

Accounts Receivable

977.0m1.0b935.0m832.0m

Inventories

106.0m42.0m52.0m

Current Assets

3.2b3.2b3.5b6.2b

PP&E

2.1b2.1b2.1b1.2b

Goodwill

2.7b2.7b1.3b56.0m

Total Assets

10.0b10.0b8.8b8.3b

Accounts Payable

949.0m1.2b1.4b796.0m

Short-term debt

305.0m537.0m4.4b2.2b

Current Liabilities

4.6b4.7b8.7b5.9b

Long-term debt

3.8b3.8b301.0m279.0m

Total Debt

4.1b4.3b4.7b2.5b

Total Liabilities

9.1b9.2b9.9b7.0b

Common Stock

184.0m185.0m185.0m196.0m

Preferred Stock

243.0m257.0m271.0m294.0m

Additional Paid-in Capital

3.5b3.5b3.6b3.6b

Retained Earnings

(2.8b)(2.9b)(4.8b)(7.1b)

Total Equity

675.0m537.0m(1.4b)(3.6b)

Debt to Equity Ratio

6.1 x8 x-3.4 x-0.7 x

Debt to Assets Ratio

0.4 x0.4 x0.5 x0.3 x

Financial Leverage

14.9 x18.6 x-6.3 x-2.3 x

McDermott Cash Flow

Annual

USDFY, 2018FY, 2019

Net Income

(2.7b)(2.9b)

Depreciation and Amortization

315.0m580.0m

Accounts Receivable

300.0m(205.0m)

Inventories

(24.0m)

Accounts Payable

(156.0m)497.0m

Cash From Operating Activities

(71.0m)(976.0m)

Purchases of PP&E

(86.0m)(92.0m)

Cash From Investing Activities

(2.6b)(278.0m)

Long-term Borrowings

(545.0m)(1.7b)

Dividends Paid

(3.0m)(43.0m)

Cash From Financing Activities

3.2b1.6b

Net Change in Cash

437.0m348.0m

Interest Paid

212.0m283.0m

Income Taxes Paid

141.0m96.0m

Quarterly

USDQ1, 2019Q2, 2019Q3, 2019Q1, 2020

Net Income

(57.0m)(171.0m)(2.0b)(1.4b)

Depreciation and Amortization

87.0m158.0m230.0m68.0m

Accounts Receivable

(87.0m)(164.0m)(78.0m)92.0m

Inventories

(23.0m)

Accounts Payable

357.0m545.0m680.0m(293.0m)

Cash From Operating Activities

(244.0m)(449.0m)(563.0m)(695.0m)

Purchases of PP&E

(18.0m)(33.0m)(65.0m)(25.0m)

Cash From Investing Activities

(133.0m)(185.0m)(269.0m)(85.0m)

Long-term Borrowings

(8.0m)(1.3b)(1.7b)(90.0m)

Dividends Paid

(5.0m)(5.0m)(18.0m)(2.0m)

Cash From Financing Activities

277.0m573.0m1.0b1.2b

Net Change in Cash

(106.0m)(63.0m)165.0m394.0m

McDermott Ratios

USDFY, 2018

Revenue/Employee

210.2k

Debt/Equity

4.2 x

Debt/Assets

0.4 x

Financial Leverage

11.5 x

McDermott Operating Metrics

McDermott's Backlog was reported to be $16.4b in Q1, 2020.
FY, 2018Q1, 2019Q2, 2019Q3, 2019FY, 2019Q1, 2020Nov, 2021

Countries Covered

54

Product Lines

6

Services Provided

9

Industries Served

9

Projects Completed

95

Markets Served

7

Patents (US)

35

Trademarks (US)

2

Backlog

$15.38 b$20.55 b$20.08 b$18.64 b$16.38 b

Backlog (Asia-Pacific)

$1.4 b$1.29 b$1.63 b$1.49 b$1.23 b

Backlog (Downstream)

$4.78 b$4.89 b$4.12 b

Backlog (Europe, Africa, Russia and Caspian)

$1.92 b$4.03 b$3.78 b$3.42 b$2.83 b

Backlog (LNG)

$4.62 b$6.26 b$6.56 b

Backlog (Middle East and North Africa)

$2.88 b$6.54 b$6.46 b$6.05 b$5.51 b

Backlog (North, Central and South America)

$8.58 b$8.12 b$7.61 b$7.07 b$5.53 b

Backlog (Offshore and Subsea)

$5.11 b$8.91 b$9.07 b

Backlog (Power)

$865 m$487 m$329 m

Backlog (Storage Solutions)

$1.28 b

Backlog (Technology)

$601 m$565 m$592 m$619 m

Book-to-Bill Ratio

300%340%80%

Book-to-Bill Ratio (Asia Pacific)

90%20%370%

Book-to-Bill Ratio (Europe, Africa, Russia and Caspian)

460%1200%

Book-to-Bill Ratio (Middle East and North Africa)

380%1020%90%

Book-to-Bill Ratio (North, Central and South America)

310%60%50%

Book-to-Bill Ratio (Technology)

80%80%120%

Fabrication Facility Utilization, man-hours

16 m15 m

New Awards, units

5.65 k16.15 k

New Orders

$6.67 b$7.31 b$1.66 b

New Orders (Asia Pacific)

$137 m$2 m$468 m

New Orders (Downstream)

$428 m$624 m$292 m

New Orders (Europe, Africa, Russia and Caspian)

$684 m$2.31 b

New Orders (LNG)

$3.85 b$2.17 b$390 m

New Orders (Middle East and North Africa)

$1.43 b$4.06 b$446 m

New Orders (North, Central and South America)

$4.31 b$800 m$581 m

New Orders (Offshore and Subsea)

$2.37 b$4.42 b$956 m

New Orders (Power)

$26 m$89 m$21 m

New Orders (Technology)

$117 m$118 m$164 m

Offshore Vessels Utilization, days

1.03 k1.17 k

Remaining Performance Obligations

$7.11 b$6.19 b$4.77 b$2.52 b$18.64 b$5.85 b

Subsea Vessels Utilization, days

535660

Vessel Fleet

1212

McDermott Employee Rating

3.7995 votes
Culture & Values
3.6
Work/Life Balance
3.3
Senior Management
3.2
Salary & Benefits
3.7
Career Opportunities
3.5
Source