Baker Hughes Part 2: Estimates And Relative Valuation
Revenue estimates suggest a steady trend in the next three years. EBITDA will also improve but at a more moderate...
Baker Hughes Part 1: Various LNG And Renewable Energy Projects Will Drive Business
A multi-year growth cycle will benefit Baker Hughes’s North American market significantly and will also help participate in the Middle...
Halliburton Part 2: Estimates And Relative Valuation
The revenue estimate is firm for NTM 2023 but may slow down after that. EBITDA can stay muted in the...
Halliburton Part 1: It Has The Right Value Drivers, But Valuation Can Drag In
Halliburton sees higher capex and US onshore rig count growth from the private operators in 2022. It will prioritize short-cycle...
Calfrac Well Services Part 2: Estimates And Valuation
Revenue estimates suggest higher revenues in NTM 2022, but the topline can flatten or decrease afterward. EBITDA can increase significantly...
Calfrac Well Services Part 1: Cash Flow Concerns Versus Growing Activity
Calfrac's frac fleet count in the US stepped up in early 2022 but is unlikely to increase much from here....
TechnipFMC Part 2: Relative Valuation Analysis
Most of the sell-side analysts recommend “Buy” for FTI. The stock has 34% return potential at the current price, according...
TechnipFMC Part 1: LNG Demand Growth And Renewable Transition Drive
FTI's inbound order to strengthen further, indicating better revenue visibility in FY2022. A higher US LNG export and LNG price...
Mammoth Energy Services Part 2: Estimates And Valuation
Revenue estimates suggest an increasing trend in the next couple of years. EBITDA can stay in the red in the...
Mammoth Energy Services Part 1: Strong Outlook Despite Mild Performance
The infrastructure business disappointed in Q4, but the economy provides sufficient tailwinds to the business in the medium term. Mammoth...
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