Dawson Geophysical Company (DWSN)
NASDAQ:DWSN
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Dawson Geophysical Company
(NASDAQ:DWSN)
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Rating:69Neutral
Price Target:
$5.00
▲(194.12% Upside)
Action:Reiterated
Date:05/15/26
The score is driven by clear operational recovery and improved cash generation, reinforced by strong technical uptrend signals and a very low P/E valuation. The main constraints are revenue contraction in the latest period, increased leverage and historical volatility, and earnings-call uncertainty from no formal guidance and modest liquidity after heavy capex.
Positive Factors
Cash Generation
The company restored positive operating cash flow (TTM $11.8M) and positive free cash flow ($5.4M), a structural improvement versus prior negative years. Sustainable cash generation enhances ability to fund operations, service debt, and modest reinvestment without continual external financing over the coming months.
Negative Factors
Rising Leverage
Leverage has risen to ~0.94 debt/equity, reducing financial flexibility compared with prior years. Higher debt increases fixed obligations and vulnerability to slower demand or rate rises, constraining the company's ability to absorb shocks and fund opportunistic growth without adding costlier financing.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash Generation
The company restored positive operating cash flow (TTM $11.8M) and positive free cash flow ($5.4M), a structural improvement versus prior negative years. Sustainable cash generation enhances ability to fund operations, service debt, and modest reinvestment without continual external financing over the coming months.
Read all positive factors
Dawson Geophysical Company (DWSN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$123.59M
Dividend YieldN/A
Average Volume (3M)58.16K
Price to Earnings (P/E)26.1
Beta (1Y)-0.31
Revenue Growth64.11%
EPS GrowthN/A
CountryUS
Employees233
SectorEnergy
Sector Strength52
IndustryOil & Gas Equipment & Services
Share Statistics
EPS (TTM)0.15
Shares Outstanding31,052,840
10 Day Avg. Volume28,069
30 Day Avg. Volume58,160
Financial Highlights & Ratios
PEG Ratio0.48
Price to Book (P/B)3.06
Price to Sales (P/S)0.64
P/FCF Ratio6.77
Enterprise Value/Market Cap1.14
Enterprise Value/Revenue1.47
Enterprise Value/Gross Profit5.86
Enterprise Value/Ebitda11.08
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Dawson Geophysical Company Business Overview & Revenue Model
Company Description
Dawson Geophysical Company (DWSN) specializes in the collection and interpretation of onshore seismic data, operating across both the United States and Canada. They are adept at capturing and analyzing various forms of seismic information—includin...
How the Company Makes Money
Dawson Geophysical makes money primarily by providing contracted land seismic data acquisition services to oil and gas companies. Revenue is generated when customers hire Dawson to plan and execute seismic survey projects, which typically includes...
Dawson Geophysical Company Earnings Call Summary
Earnings Call Date:Mar 30, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Aug 07, 2026
Earnings Call Sentiment Positive
The call presented a number of clear operational and financial improvements: strong Q4 revenue growth (+67%), restoration of quarterly profitability, sizable increases in adjusted EBITDA (both quarter and year), $14 million of operating cash generated, a major equipment investment expanding capacity to over 180,000 channels, and continued cost discipline (G&A down 9%). Offsetting these positives are the remaining full-year net loss (-$1.9 million), a modest year-end cash balance ($4.9 million) after significant capex, relatively small field scale in Q4, no forward guidance, and some uncertainty around external demand drivers. Overall, the positive operational momentum, improved margins and strategic investments outweigh the outstanding challenges.Positive Updates
Strong Q4 Revenue Growth
Fee revenues for Q4 2025 were $22.9 million, up 67% versus $13.8 million in Q4 2024.
Negative Updates
Full-Year Net Loss Remains
Despite improvement, the company reported a net loss of $1.9 million for fiscal 2025 (EPS -$0.06), so full-year profitability has not yet been achieved.
Read all updates
Q4-2025 Updates
Positive
Negative
Strong Q4 Revenue Growth
Fee revenues for Q4 2025 were $22.9 million, up 67% versus $13.8 million in Q4 2024.
Read all positive updates
Company Guidance
Management said the company would not provide formal guidance, but outlined expectations and key metrics: Q4 fee revenues were $22.9M (up 67% YoY) with Q4 adjusted EBITDA of $3.3M (vs $0.9M), full-year 2025 fee revenues were $61.9M (up 16% YoY) with adjusted EBITDA $4.7M (up 139% YoY), Q4 net income was $0.6M ($0.02/share) vs a prior-year Q4 loss of $0.8M ($0.03), and the FY net loss narrowed to $1.9M ($0.06) from $4.7M ($0.13); the company generated $14M of operating cash flow in 2025, ended the year with $4.9M cash (vs $1.4M), has a $5M revolver with a $4.9M borrowing base and no outstanding balance, purchased $24.2M of new equipment (including single‑node channels delivered Aug 2025–Jan 2026), holds over 180,000 channels, cut G&A 9% in 2025, and has a Board‑approved 2026 capital budget of $3M (including a $0.9M final equipment payment), while operating 4 crews in the Lower 48 and 2 in Canada in Q4 (moving to 3 large‑channel crews in Canada in Q1) and expecting continued improvement in profitability, higher utilization and increased bid activity into Q1 2026.Dawson Geophysical Company Financial Statement Overview
Summary
Income Statement
57
Neutral
Balance Sheet
49
Neutral
Cash Flow
62
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Mar 2024 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 96.25M | 75.63M | 74.15M | 96.85M | 51.63M | 24.70M |
| Gross Profit | 24.12M | 7.35M | 5.40M | 1.70M | -6.75M | 11.83M |
| EBITDA | 12.76M | 4.27M | 1.78M | -3.65M | -6.68M | -16.23M |
| Net Income | 4.73M | -1.94M | -4.12M | -12.15M | -18.64M | -29.09M |
Balance Sheet | ||||||
| Total Assets | 64.40M | 56.01M | 30.87M | 58.19M | 68.67M | 74.04M |
| Cash, Cash Equivalents and Short-Term Investments | 1.74M | 5.28M | 1.39M | 16.04M | 18.87M | 25.64M |
| Total Debt | 21.98M | 20.66M | 5.78M | 6.23M | 4.93M | 5.21M |
| Total Liabilities | 41.07M | 40.20M | 13.59M | 26.76M | 19.87M | 11.56M |
| Stockholders Equity | 23.33M | 15.81M | 17.28M | 31.43M | 48.80M | 62.48M |
Cash Flow | ||||||
| Free Cash Flow | 3.50M | 7.15M | -3.73M | -2.91M | -4.70M | -16.55M |
| Operating Cash Flow | 11.76M | 13.98M | -1.87M | 814.00K | -3.27M | -16.05M |
| Investing Cash Flow | -8.26M | -6.73M | -735.00K | -4.50M | -1.09M | 264.00K |
| Financing Cash Flow | -4.74M | -3.68M | -11.56M | -4.20M | -2.15M | 95.00K |
Dawson Geophysical Company Technical Analysis
Positive
1.70
Price Trends
3.41
Positive
3.15
Positive
2.48
Positive
Market Momentum
0.22
Positive
52.64
Neutral
71.54
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DWSN, the sentiment is Positive. The current price of 1.7 is below the 20-day moving average (MA) of 3.97, below the 50-day MA of 3.41, and below the 200-day MA of 2.48, indicating a bullish trend. The MACD of 0.22 indicates Positive momentum. The RSI at 52.64 is Neutral, neither overbought nor oversold. The STOCH value of 71.54 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for DWSN.
Dawson Geophysical Company Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | $123.59M | 26.14 | 26.73% | ― | 64.11% | ― | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
61 Neutral | $234.27M | 9.83 | 9.10% | ― | 21.72% | ― | |
51 Neutral | $95.58M | -26.29 | -2.98% | ― | -3.52% | -117.16% | |
49 Neutral | $55.55M | -0.74 | 105.06% | ― | -8.92% | -7.64% | |
47 Neutral | $455.29K | 7.10 | ― | ― | -3.74% | ― | |
42 Neutral | $40.18M | -1.08 | -6.84% | ― | 67.30% | -227.58% |
* Energy Sector Average
DWSN
Dawson Geophysical Company
3.98
2.63
194.81%
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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.