DWSN Nasdaq Oil & Gas Field Exploration Services Financials FY2016βFY2025
Dawson Geophysical Co had $75.6M of revenue in fiscal 2025, up 2.0% on the year before. Over five years, revenue changed β2.6% a year on average.
Last close Β· Oct 23, 2026
$2.03
0.5%Hi! I read Dawson Geophysical Coβs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
+2.0%
Only a little. Sales grew 2.0% last year.
Does it make a profit?
β2.6%
No. It lost money last year.
Does profit turn into cash?
9.4%
Partly. 9.4% of sales ends up as free cash.
Is debt under control?
3.7x
Heavy. Repaying its debt would take 3.7 years of operating profit.
How healthy are the accounts?
4 / 9
Mixed. It passes 4 of 9 health tests.
How is the share priced?
15.6x
One share costs 15.6 times its yearly profit per share.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Is it selling more, and how much does it keep?
In plain words: Every quarter, companies publish how much they sold and earned. These are the days Dawson Geophysical Co did it, and the next one. Share prices often move a lot on those days.
Next results
November 11, 2026
Wednesday Β· in 16 days
| Date | Results for | Time | Source |
|---|---|---|---|
| Aug 13, 2026 | Q2 '26 | After the market closes | 8-K β |
| May 14, 2026 | Q1 '26 | After the market closes | 8-K β |
| Mar 30, 2026 | Q4 '25 | After the market closes | 8-K β |
| Nov 12, 2025 | Q3 '25 | After the market closes | 8-K β |
| Aug 12, 2025 | Q2 '25 | After the market closes | 8-K β |
| May 13, 2025 | Q1 '25 | After the market closes | 8-K β |
| Mar 28, 2025 | Q4 '24 | After the market closes | 8-K β |
| Nov 12, 2024 | Q3 '24 | After the market closes | 8-K β |
From SEC filings: the results press release (8-K) or, without one, the quarterly or annual report.
KIRA Β· Dawson Geophysical Co had $75.6M of revenue in fiscal 2025, up 2.0% on the year before. Over five years, revenue changed β2.6% a year on average. Its operating margin was β2.2%, up 3.9Β pts: of every 100 in sales, about β2 is left after running the business.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
Revenue
Margins, % of revenue
Margins, % of revenue
KIRA Β· Dawson Geophysical Co lost $1.9M in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
Net income
Diluted EPS
Diluted EPS
How much cash comes in, and where does it go?
KIRA Β· Free cash flow was $7.1M in fiscal 2025, 9.4% of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations vs capital spending
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
Dividends and buybacks
Diluted shares outstanding (annual)
KIRA Β· No open-market insider trades in the last 12 months.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
β
$0.0M
No open-market insider trades in the last 12 months.
Can it carry its debts, and how well does it use its money?
KIRA Β· Dawson Geophysical Co owes $14.9M more than it holds in cash, about 3.7 years of operating profit.
Cash, debt and the ratios that show how comfortably Dawson Geophysical Co can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $25.6M | $18.9M | $11.0M | $1.4M | $5.3M |
| Debt incl. finance leases | $0.4M | $0.8M | $4.4M | $4.9M | $20.2M |
| Net debt / EBITDA | β | β | β | 2.9x | 3.7x |
| Debt / equity | 0.0x | 0.0x | 0.1x | 0.1x | 1.1x |
| Interest coverage | β1,391.9x | β716.2x | β126.9x | β28.6x | β3.1x |
| Current ratio | 5.6x | 2.7x | 1.7x | 1.5x | 0.8x |
| Quick ratio | 5.6x | 2.7x | 1.7x | 1.5x | 0.8x |
| Total assets | $74.0M | $68.7M | $57.5M | $30.9M | $56.0M |
| Total liabilities | $11.6M | $19.9M | $26.1M | $13.6M | $40.2M |
| Shareholders' equity | $62.5M | $48.8M | $31.4M | $17.3M | $15.8M |
| Net debt (β = net cash) | β$25.3M | β$18.1M | β$6.6M | $3.5M | $14.9M |
KIRA Β· Its return on capital was β4.7%: every 100 invested in the business earned about β5 in a year.
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
KIRA Β· Dawson Geophysical Co passes 4 of 9 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β | β | β | β |
| F-score | β / 3 | 3 / 8 | 5 / 9 | 7 / 9 | 5 / 9 | 1 / 9 | 4 / 9 | 4 / 9 | 4 / 9 | 4 / 9 |
| Accruals ratio | β25.1% | β14.1% | β23.4% | β17.7% | β28.4% | β14.7% | β21.5% | β20.5% | β5.1% | β36.6% |
| Altman Z'' | 11.92 | 6.18 | 3.95 | 4.74 | 8.05 | 2.09 | β2.29 | β5.56 | β13.21 | β8.50 |
Every number, year by year.
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $138M | $157M | $154M | $146M | $86.1M | $24.7M | $51.6M | $96.8M | $74.2M | $75.6M |
| Gross profit | β | $17.5M | $21.2M | $22.7M | $17.1M | β$4.3M | $13.7M | $10.2M | $11.1M | $13.0M |
| Operating income | β$47.5M | β$38.0M | β$25.0M | β$16.2M | β$14.0M | β$29.2M | β$22.2M | β$13.1M | β$4.5M | β$1.7M |
| Interest expense | $0.3M | $0.2M | $0.4M | $0.4M | $0.1M | $0.0M | $0.0M | $0.1M | $0.2M | $0.5M |
| Pretax income | β$44.3M | β$37.1M | β$25.2M | β$15.5M | β$13.2M | β$29.1M | β$18.5M | β$12.2M | β$4.1M | β$1.9M |
| Income tax | β$6.0M | β$5.3M | β$0.8M | β$0.2M | $0.0M | β$0.0M | $0.1M | β$0.1M | $0.0M | $0.0M |
| Net income | β$38.3M | β$31.8M | β$24.4M | β$15.2M | β$13.2M | β$29.1M | β$18.6M | β$12.1M | β$4.1M | β$1.9M |
| Net income to common | β$39.8M | β$31.3M | β | β | β | β | β | β | β | β |
| Diluted EPS | β$1.69 | β$1.40 | β$1.07 | β$0.66 | β$0.56 | β$1.23 | β$0.75 | β$0.45 | β$0.13 | β$0.06 |
| Diluted shares | 0.02B | 0.02B | 0.02B | 0.02B | 0.02B | 0.02B | 0.02B | 0.03B | 0.03B | 0.03B |
| Cash flow | ||||||||||
| Cash from operations | $8.7M | β$6.7M | $12.9M | $9.5M | $19.6M | β$16.1M | β$3.3M | $0.8M | β$1.9M | $14.0M |
| Capital expenditure | $8.3M | $8.7M | $15.7M | $4.4M | $2.8M | $0.5M | $1.4M | $3.7M | $1.9M | $6.8M |
| Free cash flow | $0.5M | β$15.4M | β$2.9M | $5.1M | $16.8M | β$16.6M | β$4.7M | β$2.9M | β$3.7M | $7.1M |
| Depreciation and amortization | $44.3M | $39.2M | $30.0M | $21.8M | $17.2M | $12.9M | $11.8M | $8.5M | $5.7M | $5.7M |
| Stock-based compensation | $0.9M | $1.0M | $1.4M | $1.2M | $0.7M | $0.5M | $0.4M | β | $0.5M | $0.1M |
| Dividends paid | β | β | $0.0M | β | β | β | β | β | $9.9M | β |
| Dividends and buybacks | β | β | $0.0M | β | β | β | β | β | $9.9M | β |
| Balance sheet | ||||||||||
| Cash and short-term investments | $54.9M | $38.6M | $39.3M | $28.6M | $41.5M | $25.6M | $18.9M | $11.0M | $1.4M | $5.3M |
| Total debt | $2.4M | $7.9M | $12.8M | $4.2M | $0.1M | $0.3M | $0.5M | $2.7M | $2.5M | $17.6M |
| Finance lease liabilities | β | β | $5.1M | $2.4M | $0.1M | $0.0M | $0.3M | $1.8M | $2.4M | $2.6M |
| Current assets | $75.7M | $79.8M | $77.0M | $65.6M | $58.6M | $42.9M | $43.8M | $37.4M | $14.5M | $21.8M |
| Current liabilities | $15.0M | $20.4M | $27.3M | $18.3M | $7.4M | $7.6M | $16.2M | $22.4M | $9.9M | $26.8M |
| Property and equipment, net | $111M | $86.6M | $71.5M | $53.5M | $38.9M | β | β | β | β | β |
| Intangible assets | $0.5M | $0.5M | $0.4M | $0.4M | $0.4M | $0.4M | $0.4M | $0.4M | $0.3M | $0.4M |
| Total assets | $188M | $168M | $151M | $128M | $103M | $74.0M | $68.7M | $57.5M | $30.9M | $56.0M |
| Total liabilities | $16.2M | $26.6M | $33.7M | $24.4M | $12.4M | $11.6M | $19.9M | $26.1M | $13.6M | $40.2M |
| Shareholders' equity | $171M | $141M | $117M | $103M | $91.0M | $62.5M | $48.8M | $31.4M | $17.3M | $15.8M |
| Margins | ||||||||||
| Gross margin | β | 11.2% | 13.8% | 15.6% | 19.9% | β17.5% | 26.6% | 10.5% | 15.0% | 17.2% |
| Operating margin | β34.5% | β24.3% | β16.2% | β11.1% | β16.3% | β118.4% | β43.0% | β13.5% | β6.1% | β2.2% |
| EBITDA margin | β2.3% | 0.8% | 3.2% | 3.8% | 3.7% | β66.3% | β20.1% | β4.7% | 1.6% | 5.3% |
| Net margin | β27.9% | β20.3% | β15.8% | β10.4% | β15.3% | β117.8% | β36.1% | β12.5% | β5.6% | β2.6% |
| FCF margin | 0.4% | β9.8% | β1.9% | 3.5% | 19.5% | β67.0% | β9.1% | β3.0% | β5.0% | 9.4% |
| Returns | ||||||||||
| Return on capital | β31.5% | β27.1% | β21.9% | β16.3% | β22.3% | β62.2% | β57.7% | β44.8% | β19.5% | β4.7% |
| Return on capital employed | β27.5% | β25.7% | β20.3% | β14.9% | β14.6% | β44.0% | β42.3% | β37.2% | β21.7% | β5.7% |
| Return on equity | β22.4% | β20.3% | β18.9% | β13.8% | β13.6% | β37.9% | β33.5% | β30.3% | β16.9% | β11.7% |
| Return on assets | β20.4% | β17.9% | β15.3% | β10.9% | β11.4% | β32.8% | β26.1% | β19.3% | β9.3% | β4.5% |
| Return on tangible equity | β23.3% | β22.2% | β20.9% | β14.8% | β14.6% | β46.9% | β38.5% | β39.1% | β24.3% | β12.6% |
| Growth | ||||||||||
| Revenue growth | β | 13.7% | β1.5% | β5.4% | β40.9% | β71.3% | 109.1% | 87.6% | β23.4% | 2.0% |
| FCF growth | β | β3,232.0% | β | β | 230.3% | β198.6% | β | β | β | β |
| Share count change | β | 0.4% | 0.6% | 1.2% | 0.9% | 0.8% | 5.9% | 7.1% | 15.4% | 0.4% |
| Financial health | ||||||||||
| Net debt / EBITDA | β | β24.2x | β4.3x | β4.0x | β13.0x | β | β | β | 2.9x | 3.7x |
| Debt / equity | 0.0x | 0.1x | 0.1x | 0.0x | 0.0x | 0.0x | 0.0x | 0.1x | 0.1x | 1.1x |
| Interest coverage | β182.6x | β240.3x | β61.3x | β37.3x | β168.6x | β1,391.9x | β716.2x | β126.9x | β28.6x | β3.1x |
| Current ratio | 5.0x | 3.9x | 2.8x | 3.6x | 7.9x | 5.6x | 2.7x | 1.7x | 1.5x | 0.8x |
| Quick ratio | 5.0x | 3.9x | 2.8x | 3.6x | 7.9x | 5.6x | 2.7x | 1.7x | 1.5x | 0.8x |
| Capital allocation | ||||||||||
| Capex / revenue | 6.0% | 5.5% | 10.2% | 3.0% | 3.3% | 2.0% | 2.8% | 3.8% | 2.5% | 9.0% |
| Stock comp / revenue | 0.6% | 0.6% | 0.9% | 0.8% | 0.8% | 1.9% | 0.8% | β | 0.6% | 0.2% |
| Quality scores | ||||||||||
| Piotroski F-score | β | 3.0 | 5.0 | 7.0 | 5.0 | 1.0 | 4.0 | 4.0 | 4.0 | 4.0 |
| Altman Z'' | 11.9 | 6.2 | 4.0 | 4.7 | 8.1 | 2.1 | β2.3 | β5.6 | β13.2 | β8.5 |
| Accruals ratio | β25.1% | β14.1% | β23.4% | β17.7% | β28.4% | β14.7% | β21.5% | β20.5% | β5.1% | β36.6% |
Source: SEC EDGAR XBRL filings (CIK 0000799165). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.
