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China Oilfield Services Class H (CHOLF)
:CHOLF
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China Oilfield Services (CHOLF) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$7.08B
Dividend Yield3.62%
Average Volume (3M)0.00
Price to Earnings (P/E)8.3
Beta (1Y)0.13
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees15,509
SectorEnergy
Sector Strength44
IndustryOil & Gas Equipment & Services
Share Statistics
EPS (TTM)0.10
Shares Outstanding1,811,124,000
10 Day Avg. Volume0
30 Day Avg. Volume0
Financial Highlights & Ratios
PEG Ratio1.36
Price to Book (P/B)0.63
Price to Sales (P/S)0.00
P/FCF Ratio110.62
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$1.47Price Target Upside79.27% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
China Oilfield Services Business Overview & Revenue Model
Company DescriptionChina Oilfield Services Limited, together with its subsidiaries, provides integrated offshore oilfield services in Mainland China and internationally. The company operates through four segments: Drilling Services, Well Services, Marine Support Services, and Geophysical Acquisition and Surveying Services. The Drilling Services segment provides jack-up drilling rig, semi-submersible drilling rig, modular rig, and land drilling rig services; and casting and tubing, and running pipe inspection and repair services. This segment operates and manages 36 jack-up drilling rigs, 12 semi-submersible drilling rigs, and 6 modular rigs. The Well Services segment offers onshore and offshore well services, including logging, drilling and completion fluids, directional drilling, cementing, well completion and workover, stimulation, and oilfield production optimization. The Marine Support Services segment offers anchor handling, towing of drilling rigs/engineering barges, oil lifting, offshore transportation, standby, firefighting, rescue, oil spill assisting, and other marine support services. It operates and manages approximately 130 vessels, including anchor-handling tug/supply, platform supply, and multi-purpose vessels, as well as barges and shuttle-tankers. The Geophysical Acquisition and Surveying Services segment provides marine seismic acquisition, offshore geo-surveying, seismic data processing and interpretation, and underwater engineering services. This segment owns 6 seismic vessels, 2 ocean bottle cable teams, and 5 engineering surveying vessels. China Oilfield Services Limited also issues bonds. The company is based in Sanhe, China. China Oilfield Services Limited is a subsidiary of China National Offshore Oil Corporation.
How the Company Makes Money
China Oilfield Services Earnings Call Summary
Earnings Call Date:Apr 24, 2025
(Q3-2024)
| % Change Since: 6.49%|
Next Earnings Date:Aug 20, 2025
Earnings Call Sentiment Neutral
The earnings call presented a mixed outlook. While COSL maintained stable profits and showcased strong performance in the well service segment and R&D investment, it faced challenges from exchange rate fluctuations and decreased rig utilization due to weather conditions. The management's positive outlook for overseas market opportunities adds a sense of optimism.Q3-2024 Updates
Positive Updates
Stable Profit Despite Weather Impact
COSL reported stable profits despite the influence of adverse weather conditions affecting operations.
Well Service Business Performance
Well service business accounted for 56% of revenue and 76-77% of profit, showing strong performance as a leading business segment.
R&D Investment
COSL increased its R&D investment from CNY 1.7 billion to almost CNY 2 billion, representing about 4% of revenue.
Positive Outlook for Overseas Markets
Management expressed confidence in the overseas market, particularly in Norway and Saudi Arabia, with higher anticipated revenues and margins in the upcoming year.
Negative Updates
Exchange Rate Fluctuation Losses
The company experienced a loss of CNY 200 million due to exchange rate fluctuations between the Chinese yuan and the U.S. dollar.
Decreased Utilization of Semi-Submersible Rigs
Utilization of semi-submersible rigs was lowered due to typhoons in China and preparation work for a project in Brazil, affecting overall utilization rates.
Impact of Weather on Rigs
The adverse weather conditions led to approximately 100 lost rig days, affecting 10 rigs to varying extents.
Company Guidance
During the COSL Q3 2024 earnings call, the company provided guidance on several key metrics and strategic initiatives. The management discussed the impact of exchange rate fluctuations, revealing a loss of approximately CNY 200 million due to the appreciation of the Chinese yuan from 7.1 to 7.0 against the U.S. dollar. The well service segment contributed significantly to the company's performance, accounting for around 56% of revenue and nearly 80% of profit. Despite a lowered utilization rate of semi-submersible rigs in Q3, influenced by typhoons in China, the company expressed optimism for improved utilization in Q4, especially with projects in the North Sea and Saudi Arabia. COSL plans to continue investing in R&D, with expenditures expected to increase beyond the CNY 2 billion spent last year. The company remains confident about future overseas market prospects, anticipating stable growth in the oil and gas industry and a positive impact from new projects in Brazil and Norway. Additionally, the management discussed the potential for stock repurchase activities, influenced by national policies encouraging central enterprises to buy back shares.China Oilfield Services Financial Statement Overview
Summary
China Oilfield Services demonstrates solid financial health with consistent revenue growth and strong profit margins. The balance sheet is stable with manageable leverage and good equity levels. However, the decline in free cash flow growth suggests potential cash generation challenges.Income Statement
China Oilfield Services has shown consistent revenue growth with a solid TTM revenue increase of 1.34%. Gross profit margin stands at a robust 15.97%, while net profit margin is strong at 6.92%. The company demonstrates healthy operational efficiency with an EBIT margin of 10.37% and an EBITDA margin of 11.34%. These figures signal strong profitability and operational stability.78
Positive
Balance Sheet
The debt-to-equity ratio is moderate at 0.23, indicating prudent leverage. Return on equity is decent at 7.58%, reflecting effective utilization of shareholder funds. The equity ratio is solid at 53.62%, suggesting financial stability, though there is room for improvement in asset efficiency.65
Positive
Cash Flow
The free cash flow growth rate is negative, indicating challenges in cash generation. However, the operating cash flow to net income ratio is healthy at 0.75, suggesting cash flow reliability. The free cash flow to net income ratio is also strong at 0.14, underscoring effective cash management despite the decline in free cash flow.72
Positive
| Breakdown | |||||
| TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 48.95B | 48.30B | 44.11B | 35.66B | 29.20B | 28.96B | Gross Profit |
| 7.82B | 7.58B | 7.00B | 4.38B | 4.79B | 6.67B | EBIT |
| 5.08B | 4.84B | 4.26B | 3.00B | 3.88B | 5.71B | EBITDA |
| 5.55B | 10.56B | 9.75B | 7.92B | 5.91B | 8.45B | Net Income Common Stockholders |
| 3.39B | 3.14B | 3.01B | 2.36B | 313.18M | 2.70B |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 4.30B | 11.47B | 12.72B | 9.23B | 10.82B | 12.13B | Total Assets |
| 75.97B | 82.95B | 83.25B | 77.18B | 73.31B | 75.94B | Total Debt |
| 30.31B | 10.09B | 21.62B | 22.22B | 23.44B | 25.81B | Net Debt |
| 26.61B | 4.12B | 15.08B | 18.10B | 18.33B | 19.22B | Total Liabilities |
| 41.31B | 38.52B | 40.99B | 37.29B | 35.10B | 37.25B | Stockholders Equity |
| 34.51B | 43.80B | 41.64B | 39.33B | 38.03B | 38.51B |
| Cash Flow | Free Cash Flow | ||||
| 460.03M | 4.99B | 3.62B | 2.76B | 3.67B | 3.36B | Operating Cash Flow |
| 2.55B | 11.02B | 13.10B | 6.90B | 7.42B | 7.55B | Investing Cash Flow |
| -393.98M | -5.08B | -7.46B | -3.73B | -4.73B | -3.34B | Financing Cash Flow |
| -5.79B | -6.46B | -3.28B | -4.87B | -4.20B | -727.05M |
China Oilfield Services Peers Comparison
Overall Rating
UnderperformOutperform
Sector (57)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| $7.08B | 8.29 | 7.81% | 3.62% | ― | ― | ||
57 Neutral | $7.23B | 3.16 | -4.49% | 5.63% | 0.82% | -49.15% | |
| $479.10M | 11.68 | 7.26% | 2.52% | ― | ― | ||
| $173.83M | 6.24 | 8.83% | ― | ― | ― | ||
| $384.62M | ― | -45.09% | ― | ― | ― | ||
| €21.39M | ― | ― | ― | ― | |||
45 Neutral | HK$10.27B | 1,816.33 | -5.55% | 0.59% | -16.30% | -156.80% |
* Energy Sector Average
Performance Comparison
CHOLF
China Oilfield Services
0.82
-0.15
-15.46%
ATONF
Anton Oilfield Services Group
0.18
0.13
260.00%
JUTOF
Jutal Offshore Oil Services
0.08
-0.04
-33.33%
SHANF
Shandong Molong Petroleum Machinery
0.31
0.08
34.78%
DE:8HL
Hilong Holding Ltd.
0.01
0.00
0.00%
HK:1921
Dalipal Holdings Limited
6.84
1.96
40.16%
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.