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1. Company Snapshot

1.a. Company Description

Dawson Geophysical Company provides onshore seismic data acquisition and processing services in the United States and Canada.The company acquires and processes 2-D, 3-D, and multi-component seismic data for its clients, including oil and gas companies, and independent oil and gas operators, as well as providers of multi-client data libraries.Its seismic crews supply seismic data primarily to companies engaged in the exploration and development of oil and natural gas on land and in land-to-water transition areas.


The company also serves the potash mining industry.Dawson Geophysical Company was founded in 1952 and is headquartered in Midland, Texas.Dawson Geophysical Company is a subsidiary of Wilks Brothers, LLC.

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1.b. Last Insights on DWSN

Dawson Geophysical Company's recent performance was driven by a strengthening backlog, with management expecting one large channel crew to be highly utilized from April to year-end. This uptick in activity is expected to contribute to improved revenue and profitability. Additionally, the company's ability to secure a significant crew for an extended period suggests a high level of customer commitment and demand for its services.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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DAWSON GEOPHYSICAL REPORTS THIRD QUARTER 2025 RESULTS

Nov -12

Source: prnewswire.com

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DAWSON GEOPHYSICAL REPORTS SECOND QUARTER 2025 RESULTS

Aug -12

Source: prnewswire.com

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DAWSON GEOPHYSICAL REPORTS FIRST QUARTER 2025 RESULTS

May -13

Source: prnewswire.com

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DAWSON GEOPHYSICAL REPORTS FOURTH QUARTER AND YEAR END 2024 RESULTS

Mar -28

Source: prnewswire.com

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DAWSON GEOPHYSICAL REPORTS THIRD QUARTER 2024 RESULTS

Nov -12

Source: prnewswire.com

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DWSN Stock Drops 6.79% Amid Industry Volatility

Oct -02

Source: gurufocus.com

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DAWSON GEOPHYSICAL REPORTS SECOND QUARTER 2024 RESULTS

Aug -12

Source: prnewswire.com

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DAWSON GEOPHYSICAL REPORTS FIRST QUARTER 2024 RESULTS

May -13

Source: prnewswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.50%)

6. Segments

Fee

Expected Growth: 4.5%

Growing demand for seismic data acquisition and processing services in the oil and gas industry, driven by increasing exploration and production activities, is expected to drive Dawson Geophysical Company's fee growth. Advancements in technology and increasing adoption of 3D and 4D seismic imaging are also contributing to the growth.

Reimbursable Revenue

Expected Growth: 4.5%

Increasing demand for seismic data acquisition, growth in oil and gas exploration, and rising investments in energy infrastructure drive the reimbursable revenue growth for Dawson Geophysical Company.

7. Detailed Products

2D Seismic Data Acquisition

Dawson Geophysical Company provides 2D seismic data acquisition services, which involve the collection of seismic data along a single line of receivers, providing a two-dimensional image of the subsurface.

3D Seismic Data Acquisition

Dawson Geophysical Company offers 3D seismic data acquisition services, which involve the collection of seismic data over a large area, providing a three-dimensional image of the subsurface.

Seismic Data Processing

Dawson Geophysical Company provides seismic data processing services, which involve the processing and analysis of seismic data to create detailed images of the subsurface.

Seismic Data Interpretation

Dawson Geophysical Company offers seismic data interpretation services, which involve the analysis and interpretation of seismic data to identify potential hydrocarbon reservoirs and optimize drilling locations.

Land Seismic Acquisition

Dawson Geophysical Company provides land seismic acquisition services, which involve the collection of seismic data on land, providing detailed images of the subsurface.

Marine Seismic Acquisition

Dawson Geophysical Company offers marine seismic acquisition services, which involve the collection of seismic data in marine environments, providing detailed images of the subsurface.

8. Dawson Geophysical Company's Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Dawson Geophysical Company is moderate due to the availability of alternative services and technologies that can replace seismic data acquisition services.

Bargaining Power Of Customers

The bargaining power of customers is low due to the specialized nature of Dawson Geophysical Company's services, which limits the ability of customers to negotiate prices.

Bargaining Power Of Suppliers

The bargaining power of suppliers is moderate due to the availability of alternative suppliers of equipment and services, but the specialized nature of Dawson Geophysical Company's operations limits the bargaining power of suppliers.

Threat Of New Entrants

The threat of new entrants is low due to the high capital requirements and specialized expertise required to enter the seismic data acquisition services market.

Intensity Of Rivalry

The intensity of rivalry is high due to the competitive nature of the seismic data acquisition services market, with several established players competing for market share.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 16.55%
Debt Cost 3.95%
Equity Weight 83.45%
Equity Cost 8.24%
WACC 7.53%
Leverage 19.83%

11. Quality Control: Dawson Geophysical Company passed 3 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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NCS Multistage Holdings

A-Score: 5.3/10

Value: 7.9

Growth: 4.8

Quality: 6.9

Yield: 0.0

Momentum: 10.0

Volatility: 2.3

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Dawson Geophysical

A-Score: 4.5/10

Value: 7.2

Growth: 4.6

Quality: 3.2

Yield: 4.0

Momentum: 8.0

Volatility: 0.0

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Smart Sand

A-Score: 4.5/10

Value: 5.3

Growth: 4.4

Quality: 3.1

Yield: 6.0

Momentum: 4.0

Volatility: 4.0

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Superior Drilling Products

A-Score: 4.3/10

Value: 7.2

Growth: 5.4

Quality: 7.2

Yield: 0.0

Momentum: 5.0

Volatility: 1.0

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Newpark Resources

A-Score: 3.8/10

Value: 5.5

Growth: 1.7

Quality: 5.4

Yield: 0.0

Momentum: 5.0

Volatility: 5.3

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DMC Global

A-Score: 3.4/10

Value: 9.1

Growth: 3.8

Quality: 3.1

Yield: 0.0

Momentum: 1.5

Volatility: 2.7

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

2.01$

Current Price

2.01$

Potential

-0.00%

Expected Cash-Flows