Precision Drilling (PDS) Cash Flow: Operating & Free Cash Flow

Precision Drilling (PDS) Cash Flow Statement

In fiscal 2025 (fiscal year ended Dec 31, 2025), Precision Drilling generated CAD 412.90M of operating cash flow and spent CAD 263.47M on capital expenditures. That left free cash flow of CAD 149.42M, down 43.7% from CAD 265.38M a year earlier, or 8.1% of revenue. It repurchased CAD 75.62M of its own shares.

Precision Drilling Cash Flow Statement Analysis

Values in millions CAD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for Precision Drilling Corporation (PDS) - Annual data in millions CAD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Operating Activities
Net Income	3.09	111.33	289.24	-34.29	-177.39	-120.14	6.62	-294.27	-132.04
Depreciation & Amortization	317.90	309.31	297.56	279.04	282.33	316.32	333.62	365.66	377.75
Deferred Income Tax	52.83	43.23	-23.47	20.15	-5.40	10.95	-14.96	-29.33	-100.02
Stock Based Compensation	14.52	18.89	6.66	60.09	31.95	17.77	19.46	17.40	6.80
Change in Working Capital	-22.53	18.71	-32.84	-45.89	-13.02	55.39	-4.49	-17.88	-67.38
Change in Other Working Capital	-22.53	69.48	92.78	-45.89	-13.02	55.39	-4.49	-17.88	-67.38
Other Operating Activities	167.73	69.48	92.78	-41.99	20.75	-54.18	-52.08	251.75	31.45
Net Cash from Operating Activities	412.90	482.08	500.57	237.10	139.23	226.12	288.16	293.33	116.56
Investing Activities
Capital Expenditures	-263.47	-216.70	-226.75	-184.25	-75.94	-61.59	-160.69	-126.14	-98.00
Acquisitions	39.04	34.79	-28.65	-10.20	13.09	21.09	90.77	24.46	14.84
Purchases of Investments	-0.02	-0.73	-5.34	-0.62	-3.50	0.00	0.00	0.00	0.00
Sales/Maturities of Investments	-0.02	3.62	10.01	0.00	-13.09	0.00	0.00	0.00	0.00
Other Investing Activities	16.14	-16.68	34.15	50.65	22.83	-0.02	-4.57	25.35	6.85
Net Cash from Investing Activities	-208.32	-202.99	-214.78	-144.42	-56.61	-40.52	-74.50	-100.79	-91.15
Financing Activities
Debt Repayment	-249.44	-217.59	-384.66	-112.99	-135.26	-133.26	-205.21	-168.72	-73.78
Common Stock Issued	0.42	0.69	0.00	0.00	0.00	0.00	0.00	0.28	0.00
Common Stock Repurchased	-75.62	-75.49	-29.96	-10.01	-4.29	-11.32	-25.90	0.00	0.00
Other Financing Activities	-1.55	3.03	-9.42	9.83	-10.36	-1.04	-0.70	-0.36	0.00
Net Cash from Financing Activities	-192.28	-261.39	-251.97	-113.17	-149.91	-145.62	-231.81	-169.09	-73.78
Summary
Effect of Forex Changes on Cash	-0.28	1.88	-1.23	1.48	-0.88	-5.91	-3.77	8.09	-2.25
Net Change in Cash	12.01	19.59	32.60	-19.00	-68.18	34.07	-21.93	31.55	-50.62
Cash at Beginning of Period	73.77	54.18	21.59	40.59	108.77	74.70	96.63	65.08	115.71
Cash at End of Period	85.78	73.77	54.18	21.59	40.59	108.77	74.70	96.63	65.08
Free Cash Flow	149.42	265.39	273.82	52.85	63.28	164.53	127.47	167.19	18.55
Supplemental Disclosures
Interest Paid	63.49	72.24	83.04	85.68	67.26	-	-	-	-
Income Taxes Paid	5.57	6.37	3.08	3.24	5.95	-	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Precision Drilling Cash Flow

What is Precision Drilling's free cash flow?

Precision Drilling generated free cash flow of CAD 149.42M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of CAD 412.90M minus CAD 263.47M of capital expenditures. That was down 43.7% from CAD 265.38M a year earlier. Free cash flow equaled 8.1% of revenue.

How much does Precision Drilling spend on capital expenditures?

Precision Drilling spent CAD 263.47M on capital expenditures in fiscal 2025, compared with CAD 216.70M a year earlier. That equals 63.8% of operating cash flow.

Does Precision Drilling pay dividends or buy back shares?

Yes. In fiscal 2025 Precision Drilling returned CAD 75.62M in share buybacks to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition