Drilling Tools International Corp
DTI Nasdaq Oil & Gas Field Machinery & Equipment Financials FY2022–FY2025
Revenue
Total sales reported in the income statement.
$160M
3.4%
vs prior year
Operating margin
Operating income as a share of revenue.
—
Net income
Profit after all expenses, interest and tax.
−$3.8M
224.8%
Free cash flow
Cash from operations minus capital spending.
−$0.2M
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
—
Market cap
Last close times the latest diluted share count, so it is approximate.
—
P/E
Last close divided by diluted earnings per share over the last four quarters.
—
On −$0.08 EPS (TTM)
What Drilling Tools International Corp does
No business description yet.
- Legal name
- Drilling Tools International Corp
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Mar 6, 2026
- Accession · CIK
- 0001193125-26-095973
0001884516
Revenue and margins
Drilling Tools International Corp had $160M of revenue in fiscal 2025, up 3.4% on the year before.
FY22
Revenue $130M
FY23
Revenue $152M
FY24
Revenue $154M
FY25
Revenue $160M
Q3 '23
Revenue $38.1M
Q4 '23
Revenue $35.2M
Q1 '24
Revenue $37.0M
Q2 '24
Revenue $37.5M
Q3 '24
Revenue $40.1M
Q4 '24
Revenue $39.8M
Q1 '25
Revenue $42.9M
Q2 '25
Revenue $39.4M
Q3 '25
Revenue $38.8M
Q4 '25
Revenue $38.5M
Q1 '26
Revenue $38.0M
Q2 '26
Revenue $38.1M
FY22
Gross —
Operating 19.5%
Net 16.3%
FCF −8.3%
FY23
Gross 76.6%
Operating 18.4%
Net 9.7%
FCF −13.4%
FY24
Gross 75.1%
Operating 8.7%
Net 2.0%
FCF −10.9%
FY25
Gross —
Operating —
Net −2.4%
FCF −0.1%
Gross
Operating
Net
FCF
Q3 '23
Gross —
Operating 18.7%
Net 11.2%
FCF −22.9%
Q4 '23
Gross —
Operating 12.9%
Net 10.9%
FCF −3.2%
Q1 '24
Gross —
Operating 13.9%
Net 8.5%
FCF −7.9%
Q2 '24
Gross —
Operating 6.0%
Net 1.0%
FCF −24.0%
Q3 '24
Gross —
Operating 10.6%
Net 2.2%
FCF 4.9%
Q4 '24
Gross —
Operating 4.5%
Net −3.4%
FCF −17.3%
Q1 '25
Gross —
Operating 7.7%
Net −3.9%
FCF −6.1%
Q2 '25
Gross —
Operating —
Net −6.1%
FCF −13.6%
Q3 '25
Gross —
Operating —
Net −2.3%
FCF 16.5%
Q4 '25
Gross —
Operating —
Net 3.2%
FCF 3.4%
Q1 '26
Gross —
Operating —
Net −4.1%
FCF −28.6%
Q2 '26
Gross —
Operating —
Net −4.7%
FCF −17.2%
Gross
Operating
Net
FCF
Net income and earnings per share
Loss periods are shown in red.
FY22
Net income $21.1M
FY23
Net income $14.7M
FY24
Net income $3.0M
FY25
Net income −$3.8M
Q3 '23
Net income $4.3M
Q4 '23
Net income $3.8M
Q1 '24
Net income $3.1M
Q2 '24
Net income $0.4M
Q3 '24
Net income $0.9M
Q4 '24
Net income −$1.3M
Q1 '25
Net income −$1.7M
Q2 '25
Net income −$2.4M
Q3 '25
Net income −$0.9M
Q4 '25
Net income $1.2M
Q1 '26
Net income −$1.5M
Q2 '26
Net income −$1.8M
FY22
Diluted EPS $1.07
FY23
Diluted EPS $0.59
FY24
Diluted EPS $0.09
FY25
Diluted EPS −$0.11
Q3 '23
Diluted EPS $0.14
Q4 '23
Diluted EPS $0.11
Q1 '24
Diluted EPS $0.11
Q2 '24
Diluted EPS $0.01
Q3 '24
Diluted EPS $0.03
Q4 '24
Diluted EPS −$0.06
Q1 '25
Diluted EPS −$0.05
Q2 '25
Diluted EPS −$0.07
Q3 '25
Diluted EPS −$0.03
Q4 '25
Diluted EPS $0.04
Q1 '26
Diluted EPS −$0.04
Q2 '26
Diluted EPS −$0.05
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY22
Return on capital —
Return on equity 67.5%
Return on assets 20.0%
FY23
Return on capital 25.4%
Return on equity 24.6%
Return on assets 12.4%
FY24
Return on capital 8.0%
Return on equity 2.9%
Return on assets 1.7%
FY25
Return on capital —
Return on equity −3.1%
Return on assets −1.7%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was −$0.2M in fiscal 2025, −0.1% of revenue. Cash from operations minus capital spending.
FY22
Free cash flow −$10.7M
FY23
Free cash flow −$20.4M
FY24
Free cash flow −$16.8M
FY25
Free cash flow −$0.2M
Q3 '23
Free cash flow −$8.7M
Q4 '23
Free cash flow −$1.1M
Q1 '24
Free cash flow −$2.9M
Q2 '24
Free cash flow −$9.0M
Q3 '24
Free cash flow $2.0M
Q4 '24
Free cash flow −$6.9M
Q1 '25
Free cash flow −$2.6M
Q2 '25
Free cash flow −$5.4M
Q3 '25
Free cash flow $6.4M
Q4 '25
Free cash flow $1.3M
Q1 '26
Free cash flow −$10.9M
Q2 '26
Free cash flow −$6.5M
FY22
Cash from operations $14.0M
Capital spending $24.7M
FY23
Cash from operations $23.3M
Capital spending $43.8M
FY24
Cash from operations $6.1M
Capital spending $22.9M
FY25
Cash from operations $19.9M
Capital spending $20.1M
Cash from operations
Capital spending
Q3 '23
Cash from operations $3.4M
Capital spending $12.2M
Q4 '23
Cash from operations $5.9M
Capital spending $7.0M
Q1 '24
Cash from operations $3.3M
Capital spending $6.2M
Q2 '24
Cash from operations $1.1M
Capital spending $10.1M
Q3 '24
Cash from operations $5.3M
Capital spending $3.4M
Q4 '24
Cash from operations −$3.7M
Capital spending $3.2M
Q1 '25
Cash from operations $2.4M
Capital spending $5.0M
Q2 '25
Cash from operations $2.2M
Capital spending $7.6M
Q3 '25
Cash from operations $10.0M
Capital spending $3.5M
Q4 '25
Cash from operations $5.3M
Capital spending $4.0M
Q1 '26
Cash from operations −$3.2M
Capital spending $7.7M
Q2 '26
Cash from operations −$2.3M
Capital spending $4.2M
Cash from operations
Capital spending
Dividends, buybacks and share count
Drilling Tools International Corp returned $1.3M to shareholders in fiscal 2025. The diluted share count rose 10.0%.
FY22
Dividends —
Buybacks —
FY23
Dividends —
Buybacks —
FY24
Dividends —
Buybacks $0.0M
FY25
Dividends —
Buybacks $1.3M
Dividends
Buybacks
Q3 '23
Dividends —
Buybacks —
Q4 '23
Dividends —
Buybacks —
Q1 '24
Dividends —
Buybacks —
Q2 '24
Dividends —
Buybacks —
Q3 '24
Dividends —
Buybacks $0.0M
Q4 '24
Dividends —
Buybacks $0.0M
Q1 '25
Dividends —
Buybacks $0.0M
Q2 '25
Dividends —
Buybacks $0.6M
Q3 '25
Dividends —
Buybacks $0.5M
Q4 '25
Dividends —
Buybacks $0.1M
Q1 '26
Dividends —
Buybacks $0.7M
Q2 '26
Dividends —
Buybacks $0.0M
Dividends
Buybacks
FY22
Diluted shares 0.02B
FY23
Diluted shares 0.03B
FY24
Diluted shares 0.03B
FY25
Diluted shares 0.04B
Balance sheet
Cash, debt and the ratios that show how comfortably Drilling Tools International Corp can carry it.
FY22
Cash $3.5M
Debt —
FY23
Cash $6.9M
Debt $0.0M
FY24
Cash $6.2M
Debt $53.8M
FY25
Cash $3.6M
Debt $45.8M
Cash
Debt
| Fiscal year end | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Cash and short-term investments | $3.5M | $6.9M | $6.2M | $3.6M |
| Debt incl. finance leases | — | $0.0M | $53.8M | $45.8M |
| Net debt / EBITDA | — | −0.1x | 1.3x | — |
| Debt / equity | — | 0.0x | 0.4x | 0.4x |
| Current ratio | 1.1x | 2.1x | 2.2x | 2.1x |
| Quick ratio | 1.0x | 1.9x | 1.6x | 1.5x |
| Total assets | $105M | $132M | $222M | $222M |
| Total liabilities | $56.1M | $43.8M | $102M | $99.3M |
| Shareholders' equity | $31.2M | $88.7M | $120M | $123M |
| Net debt (− = net cash) | — | −$6.9M | $47.6M | $42.2M |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Net income is positive | ✓ | ✓ | ✓ | ✕ |
| Cash from operations is positive | ✓ | ✓ | ✓ | ✓ |
| Return on assets rose | — | ✕ | ✕ | ✕ |
| Cash from operations exceeds net income | ✕ | ✓ | ✓ | ✓ |
| Debt fell relative to assets | — | — | ✕ | ✓ |
| Current ratio rose | — | ✓ | ✓ | ✕ |
| Share count didn't rise | — | ✕ | ✕ | ✕ |
| Gross margin rose | — | — | ✕ | — |
| Revenue rose relative to assets | — | ✕ | ✕ | ✓ |
| F-score | — / 3 | 4 / 7 | 4 / 9 | 4 / 8 |
| Accruals ratio | 6.7% | −7.2% | −1.7% | −10.7% |
| Altman Z'' | 1.79 | 4.58 | 2.68 | — |
4 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Income statement | ||||
| Revenue | $130M | $152M | $154M | $160M |
| Net interest income | −$0.4M | −$6.4M | −$7.5M | — |
| Provision for credit losses | — | — | −$0.4M | −$0.6M |
| Gross profit | — | $117M | $116M | — |
| Operating income | $25.3M | $27.9M | $13.4M | — |
| Pretax income | $24.8M | $19.8M | $3.0M | −$2.9M |
| Income tax | $3.7M | $5.0M | −$0.0M | $0.9M |
| Net income | $21.1M | $14.7M | $3.0M | −$3.8M |
| Net income to common | $19.9M | $14.4M | $3.0M | — |
| Diluted EPS | $1.07 | $0.59 | $0.09 | −$0.11 |
| Diluted shares | 0.02B | 0.03B | 0.03B | 0.04B |
| Cash flow | ||||
| Cash from operations | $14.0M | $23.3M | $6.1M | $19.9M |
| Capital expenditure | $24.7M | $43.8M | $22.9M | $20.1M |
| Free cash flow | −$10.7M | −$20.4M | −$16.8M | −$0.2M |
| Depreciation and amortization | $19.7M | $20.4M | $23.8M | $27.3M |
| Stock-based compensation | $0.0M | $4.0M | $2.1M | $2.5M |
| Acquisitions | — | $0.0M | $47.3M | $5.6M |
| Share buybacks | — | — | $0.0M | $1.3M |
| Dividends and buybacks | — | — | $0.0M | $1.3M |
| Balance sheet | ||||
| Cash and short-term investments | $3.5M | $6.9M | $6.2M | $3.6M |
| Total debt | — | $0.0M | $53.8M | $45.8M |
| Current assets | $40.2M | $46.4M | $68.1M | $64.9M |
| Current liabilities | $36.2M | $22.3M | $31.0M | $30.8M |
| Inventory | $3.3M | $5.0M | $17.5M | $18.1M |
| Property and equipment, net | $44.2M | $65.8M | $75.6M | $72.6M |
| Goodwill | — | $0.0M | $12.1M | $14.6M |
| Intangible assets | $0.3M | $0.2M | $37.2M | $39.7M |
| Total assets | $105M | $132M | $222M | $222M |
| Total liabilities | $56.1M | $43.8M | $102M | $99.3M |
| Shareholders' equity | $31.2M | $88.7M | $120M | $123M |
| Margins | ||||
| Gross margin | — | 76.6% | 75.1% | — |
| Operating margin | 19.5% | 18.4% | 8.7% | — |
| EBITDA margin | 34.7% | 31.7% | 24.1% | — |
| Net margin | 16.3% | 9.7% | 2.0% | −2.4% |
| FCF margin | −8.3% | −13.4% | −10.9% | −0.1% |
| Net interest share of revenue | −0.3% | −4.2% | −4.9% | — |
| Returns | ||||
| Return on capital | — | 25.4% | 8.0% | — |
| Return on capital employed | 36.6% | 25.3% | 7.0% | — |
| Return on equity | 67.5% | 24.6% | 2.9% | −3.1% |
| Return on assets | 20.0% | 12.4% | 1.7% | −1.7% |
| Return on tangible equity | 64.2% | 16.3% | 4.3% | −5.5% |
| Growth | ||||
| Revenue growth | — | 17.4% | 1.6% | 3.4% |
| Net income growth | — | −30.0% | −79.6% | −224.8% |
| EPS growth | — | −44.9% | −84.7% | −222.2% |
| Share count change | — | 27.7% | 28.6% | 10.0% |
| Financial health | ||||
| Net debt / EBITDA | — | −0.1x | 1.3x | — |
| Debt / equity | — | 0.0x | 0.4x | 0.4x |
| Current ratio | 1.1x | 2.1x | 2.2x | 2.1x |
| Quick ratio | 1.0x | 1.9x | 1.6x | 1.5x |
| Capital allocation | ||||
| Capex / revenue | 19.1% | 28.8% | 14.8% | 12.6% |
| Stock comp / revenue | 0.0% | 2.6% | 1.4% | 1.5% |
| Quality scores | ||||
| Piotroski F-score | — | 4.0 | 4.0 | 4.0 |
| Altman Z'' | 1.8 | 4.6 | 2.7 | — |
| Accruals ratio | 6.7% | −7.2% | −1.7% | −10.7% |
Source: SEC EDGAR XBRL filings (CIK 0001884516). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.