Overview of Financial Statements
Financial statements are records that provide an overview of a company's financial performance and position. There are three main types of financial statements:
- Income Statement: Shows the company's revenue, expenses, and profit over a specific period.
- Balance Sheet: Provides a snapshot of the company's assets, liabilities, and equity at a specific point in time.
- Cash Flow Statement: Details the cash inflows and outflows from operating, investing, and financing activities over a period.
This page presents both annual and quarterly data for these financial statements. The charts below provide a visual representation of the key metrics from each statement, helping you to quickly understand the financial health of PGS ASA.
Income Statement
| Breakdown | December 31, 2023 | December 31, 2022 | December 31, 2021 | December 31, 2020 | December 31, 2019 | December 31, 2018 | December 31, 2017 | December 31, 2016 | December 31, 2015 | December 31, 2014 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $721.50M | $825.10M | $697.80M | $473.20M | $930.80M | $874.30M | $838.80M | $764.30M | $962.00M | $1.45B |
| Cost of Revenue | $569.70M | $673.70M | $706.90M | $505.00M | $811.50M | $760.50M | $991.70M | $860.70M | $881.60M | $1.18B |
| Gross Profit | $151.80M | $151.40M | $-9.10M | $-31.80M | $119.30M | $113.80M | $-152.90M | $-96.40M | $80.40M | $274.80M |
| Gross Profit Ratio | 21.00% | 18.35% | -1.30% | -6.72% | 12.82% | 13.02% | -18.23% | -12.61% | 8.36% | 18.90% |
| Research and Development Expenses | $5.90M | $6.90M | $6.50M | $8.70M | $9.70M | $10.80M | $17.60M | $19.50M | $20.30M | $37.60M |
| General and Administrative Expenses | $42.00M | $38.90M | $- | $- | $- | $- | $36.00M | $38.40M | $44.10M | $59.90M |
| Selling and Marketing Expenses | $- | $38.90M | $36.10M | $39.20M | $51.80M | $51.80M | $36.00M | $38.40M | $44.10M | $59.90M |
| Selling General and Administrative Expenses | $42.00M | $38.90M | $36.10M | $39.20M | $51.80M | $51.80M | $36.00M | $38.40M | $44.10M | $59.90M |
| Other Expenses | $201.30M | $3.40M | $-6.00M | $-38.80M | $-2.80M | $-1.20M | $-48.30M | $4.10M | $-15.10M | $700.00K |
| Operating Expenses | $249.20M | $49.20M | $36.60M | $9.10M | $61.50M | $62.60M | $53.60M | $71.30M | $64.40M | $97.50M |
| Cost and Expenses | $818.90M | $722.90M | $743.50M | $514.10M | $873.00M | $823.10M | $1.05B | $932.00M | $946.00M | $1.28B |
| Interest Income | $20.10M | $7.00M | $300.00K | $800.00K | $2.20M | $2.30M | $1.40M | $3.40M | $2.70M | $2.30M |
| Interest Expense | $110.10M | $110.30M | $99.40M | $78.40M | $67.50M | $54.90M | $57.80M | $46.10M | $29.50M | $30.10M |
| Depreciation and Amortization | $283.90M | $354.20M | $494.50M | $463.10M | $553.20M | $504.80M | $674.70M | $493.00M | $468.50M | $599.20M |
| EBITDA | $388.50M | $457.80M | $430.10M | $377.70M | $583.10M | $518.90M | $264.30M | $276.30M | $389.80M | $728.60M |
| EBITDA Ratio | 53.85% | 55.00% | 63.44% | 79.82% | 62.69% | 59.75% | 46.85% | 38.34% | 29.49% | 50.12% |
| Operating Income | $-97.40M | $106.00M | $-51.80M | $-85.40M | $30.30M | $39.40M | $-383.60M | $-180.30M | $-430.40M | $104.20M |
| Operating Income Ratio | -13.50% | 12.85% | -7.42% | -18.05% | 3.26% | 4.51% | -45.73% | -23.59% | -44.74% | 7.17% |
| Total Other Income Expenses Net | $91.90M | $-112.70M | $-112.00M | $-221.00M | $-92.20M | $-87.30M | $-84.60M | $-82.50M | $-75.10M | $-87.50M |
| Income Before Tax | $-5.50M | $-6.70M | $-163.80M | $-306.40M | $-37.60M | $-47.90M | $-468.20M | $-262.80M | $-505.50M | $16.70M |
| Income Before Tax Ratio | -0.76% | -0.81% | -23.47% | -64.75% | -4.04% | -5.48% | -55.82% | -34.38% | -52.55% | 1.15% |
| Income Tax Expense | $9.00M | $26.10M | $15.60M | $15.10M | $34.10M | $40.00M | $55.20M | $31.20M | $22.40M | $67.60M |
| Net Income | $-14.50M | $-32.80M | $-179.40M | $-321.50M | $-71.70M | $-87.90M | $-523.40M | $-293.90M | $-527.90M | $-50.90M |
| Net Income Ratio | -2.01% | -3.98% | -25.71% | -67.94% | -7.70% | -10.05% | -62.40% | -38.45% | -54.88% | -3.50% |
| EPS | $-0.02 | $-0.06 | $-0.42 | $-0.84 | $-0.21 | $-0.26 | $-1.54 | $-1.20 | $-2.41 | $-0.24 |
| EPS Diluted | $-0.02 | $-0.05 | $-0.42 | $-0.84 | $-0.21 | $-0.26 | $-1.53 | $-1.20 | $-2.40 | $-0.23 |
| Weighted Average Shares Outstanding | 921.84M | 592.42M | 424.72M | 382.76M | 340.58M | 340.57M | 339.85M | 243.99M | 218.59M | 216.40M |
| Weighted Average Shares Outstanding Diluted | 932.40M | 600.51M | 424.72M | 384.48M | 342.58M | 343.02M | 342.24M | 245.08M | 219.73M | 217.19M |
| SEC Filing | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source |
Balance Sheet
| Breakdown | December 31, 2023 | December 31, 2022 | December 31, 2021 | December 31, 2020 | December 31, 2019 | December 31, 2018 | December 31, 2017 | December 31, 2016 | December 31, 2015 | December 31, 2014 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and Cash Equivalents | $177.70M | $363.80M | $170.00M | $156.70M | $40.60M | $74.50M | $47.30M | $61.70M | $81.60M | $54.70M |
| Short Term Investments | $- | $- | $- | $- | $- | $- | $- | $- | $- | $14.20M |
| Cash and Short Term Investments | $177.70M | $363.80M | $170.00M | $156.70M | $40.60M | $74.50M | $47.30M | $61.70M | $81.60M | $54.70M |
| Net Receivables | $362.00M | $354.10M | $234.40M | $- | $355.00M | $- | $356.20M | $279.30M | $346.90M | $543.10M |
| Inventory | $31.10M | $29.40M | $26.80M | $21.80M | $29.10M | $32.80M | $40.50M | $38.50M | $40.40M | $55.70M |
| Other Current Assets | $363.70M | $358.20M | $236.20M | $231.10M | $356.40M | $348.50M | $359.90M | $281.60M | $348.30M | $547.00M |
| Total Current Assets | $572.50M | $751.40M | $433.00M | $409.60M | $426.10M | $455.80M | $447.70M | $381.80M | $470.30M | $657.40M |
| Property Plant Equipment Net | $751.80M | $740.40M | $787.50M | $898.00M | $1.13B | $1.06B | $1.30B | $1.39B | $1.40B | $1.66B |
| Goodwill | $- | $- | $- | $- | $- | $- | $- | $- | $- | $139.90M |
| Intangible Assets | $388.50M | $373.60M | $500.00M | $709.10M | $659.70M | $761.20M | $635.40M | $806.20M | $856.60M | $879.00M |
| Goodwill and Intangible Assets | $388.50M | $373.60M | $500.00M | $709.10M | $659.70M | $761.20M | $635.40M | $806.20M | $856.60M | $1.02B |
| Long Term Investments | $- | $- | $- | $- | $- | $57.70M | $70.50M | $89.60M | $50.60M | $32.50M |
| Tax Assets | $16.30M | $- | $- | $- | $- | $38.90M | $23.50M | $55.50M | $79.40M | $95.90M |
| Other Non-Current Assets | $87.50M | $87.90M | $72.30M | $77.10M | $83.50M | $8.90M | $8.10M | $92.30M | $59.70M | $94.80M |
| Total Non-Current Assets | $1.24B | $1.20B | $1.36B | $1.68B | $1.88B | $1.93B | $2.04B | $2.44B | $2.44B | $2.91B |
| Other Assets | $- | $- | $- | $- | $- | $- | $- | $100.00K | $- | $- |
| Total Assets | $1.82B | $1.95B | $1.79B | $2.09B | $2.30B | $2.38B | $2.48B | $2.82B | $2.91B | $3.56B |
| Account Payables | $69.20M | $45.60M | $45.30M | $31.20M | $56.10M | $67.00M | $81.50M | $54.90M | $52.60M | $74.90M |
| Short Term Debt | $166.90M | $400.00M | $198.50M | $1.19B | $489.30M | $54.40M | $77.60M | $38.80M | $24.80M | $24.80M |
| Tax Payables | $40.20M | $34.60M | $17.70M | $14.30M | $24.60M | $46.40M | $36.10M | $33.80M | $37.60M | $60.50M |
| Deferred Revenue | $- | $- | $- | $- | $267.90M | $293.80M | $208.20M | $152.60M | $195.70M | $280.20M |
| Other Current Liabilities | $340.40M | $244.40M | $202.90M | $283.50M | $252.10M | $257.30M | $172.00M | $118.90M | $183.40M | $249.60M |
| Total Current Liabilities | $616.70M | $724.60M | $464.40M | $1.52B | $822.10M | $425.10M | $367.20M | $246.40M | $298.40M | $409.80M |
| Long Term Debt | $668.40M | $714.00M | $1.05B | $118.50M | $792.20M | $1.16B | $1.14B | $1.13B | $1.10B | $1.16B |
| Deferred Revenue Non-Current | $1.90M | $- | $28.30M | $46.30M | $41.50M | $52.20M | $75.10M | $58.00M | $37.10M | $65.80M |
| Deferred Tax Liabilities Non-Current | $100.00K | $100.00K | $100.00K | $100.00K | $100.00K | $800.00K | $800.00K | $2.50M | $1.60M | $14.10M |
| Other Non-Current Liabilities | $1.80M | $4.40M | $2.40M | $13.00M | $8.70M | $20.20M | $24.40M | $18.70M | $13.40M | $11.60M |
| Total Non-Current Liabilities | $672.20M | $718.50M | $1.08B | $177.90M | $842.50M | $1.24B | $1.24B | $1.21B | $1.15B | $1.25B |
| Other Liabilities | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Total Liabilities | $1.29B | $1.44B | $1.55B | $1.70B | $1.66B | $1.66B | $1.60B | $1.46B | $1.45B | $1.66B |
| Preferred Stock | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Common Stock | $325.90M | $313.20M | $158.90M | $154.20M | $138.50M | $138.50M | $138.50M | $133.70M | $104.00M | $96.50M |
| Retained Earnings | $-856.30M | $-834.60M | $-840.20M | $-675.60M | $-346.50M | $-257.20M | $-105.60M | $505.70M | $799.90M | $1.34B |
| Accumulated Other Comprehensive Income Loss | $- | $- | $- | $- | $- | $-1.75B | $-1.76B | $-1.74B | $-1.62B | $-1.69B |
| Other Total Stockholders Equity | $1.06B | $1.03B | $926.40M | $917.80M | $845.10M | $840.50M | $846.60M | $807.50M | $559.80M | $464.20M |
| Total Stockholders Equity | $527.70M | $510.20M | $245.10M | $396.40M | $637.10M | $721.80M | $879.50M | $1.36B | $1.46B | $1.90B |
| Total Equity | $527.70M | $510.20M | $245.10M | $396.40M | $637.10M | $721.80M | $879.50M | $1.36B | $1.46B | $1.90B |
| Total Liabilities and Stockholders Equity | $1.82B | $1.95B | $1.79B | $2.09B | $2.30B | $2.38B | $2.48B | $2.82B | $2.91B | $3.56B |
| Minority Interest | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Total Liabilities and Total Equity | $1.82B | $1.95B | $1.79B | $2.09B | $2.30B | $2.38B | $2.48B | $2.82B | $2.91B | $3.56B |
| Total Investments | $5.20M | $6.50M | $12.30M | $9.60M | $38.10M | $57.70M | $70.50M | $89.60M | $50.60M | $46.70M |
| Total Debt | $835.30M | $1.11B | $1.25B | $1.31B | $1.28B | $1.22B | $1.21B | $1.17B | $1.12B | $1.18B |
| Net Debt | $657.60M | $750.20M | $1.08B | $1.15B | $1.24B | $1.14B | $1.17B | $1.11B | $1.04B | $1.13B |
Cash Flow Statement
| Breakdown | December 31, 2023 | December 31, 2022 | December 31, 2021 | December 31, 2020 | December 31, 2019 | December 31, 2018 | December 31, 2017 | December 31, 2016 | December 31, 2015 | December 31, 2014 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | $-5.50M | $-6.70M | $-163.80M | $-306.40M | $-71.70M | $-87.90M | $-523.40M | $-293.90M | $-527.90M | $-50.90M |
| Depreciation and Amortization | $283.90M | $354.20M | $494.50M | $463.10M | $553.20M | $504.80M | $674.70M | $493.00M | $468.50M | $599.20M |
| Deferred Income Tax | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Stock Based Compensation | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Change in Working Capital | $100.20M | $-67.50M | $-89.60M | $125.90M | $-57.40M | $-23.10M | $52.70M | $47.70M | $115.00M | $-27.70M |
| Accounts Receivables | $57.10M | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Inventory | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Accounts Payables | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Other Working Capital | $43.10M | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Other Non Cash Items | $88.60M | $91.30M | $85.50M | $83.90M | $50.20M | $52.10M | $77.80M | $74.10M | $432.30M | $63.70M |
| Net Cash Provided by Operating Activities | $467.20M | $371.30M | $326.60M | $366.50M | $474.30M | $445.90M | $281.80M | $320.90M | $487.90M | $584.30M |
| Investments in Property Plant and Equipment | $-89.20M | $-164.80M | $-172.90M | $-263.50M | $-322.20M | $-345.00M | $-379.20M | $-430.30M | $-486.30M | $-753.90M |
| Acquisitions Net | $- | $- | $- | $- | $- | $- | $-254.10M | $-214.60M | $-410.90M | $-376.70M |
| Purchases of Investments | $- | $- | $- | $- | $- | $- | $-2.30M | $-93.10M | $-24.20M | $-32.30M |
| Sales Maturities of Investments | $- | $- | $- | $- | $- | $- | $23.70M | $2.50M | $88.60M | $6.20M |
| Other Investing Activities | $-196.00M | $3.00M | $1.00M | $8.90M | $69.70M | $-5.10M | $311.80M | $206.80M | $405.90M | $370.40M |
| Net Cash Used for Investing Activities | $-285.20M | $-161.80M | $-171.90M | $-254.60M | $-252.50M | $-350.10M | $-300.10M | $-528.70M | $-426.90M | $-786.30M |
| Debt Repayment | $-296.40M | $-123.00M | $-19.50M | $53.90M | $-136.20M | $-5.20M | $24.60M | $32.20M | $-64.00M | $148.70M |
| Common Stock Issued | $39.80M | $241.40M | $- | $91.90M | $- | $- | $35.40M | $217.10M | $104.20M | $2.90M |
| Common Stock Repurchased | $-1.30M | $-400.00K | $- | $- | $- | $- | $- | $- | $- | $-15.10M |
| Dividends Paid | $- | $- | $- | $- | $- | $- | $- | $- | $-20.30M | $-84.00M |
| Other Financing Activities | $-110.20M | $-133.70M | $-121.90M | $-141.60M | $-119.50M | $-63.40M | $-56.30M | $-61.40M | $-54.00M | $-59.60M |
| Net Cash Used Provided by Financing Activities | $-368.10M | $-15.70M | $-141.40M | $4.20M | $-255.70M | $-68.60M | $3.70M | $187.90M | $-34.10M | $-7.10M |
| Effect of Forex Changes on Cash | $- | $- | $- | $- | $- | $- | $200.00K | $- | $- | $- |
| Net Change in Cash | $-186.10M | $193.80M | $13.30M | $116.10M | $-33.90M | $27.20M | $-14.40M | $-19.90M | $26.90M | $-209.10M |
| Cash at End of Period | $177.70M | $363.80M | $170.00M | $156.70M | $40.60M | $74.50M | $47.30M | $61.70M | $81.60M | $54.70M |
| Cash at Beginning of Period | $363.80M | $170.00M | $156.70M | $40.60M | $74.50M | $47.30M | $61.70M | $81.60M | $54.70M | $263.80M |
| Operating Cash Flow | $467.20M | $371.30M | $326.60M | $366.50M | $474.30M | $445.90M | $281.80M | $320.90M | $487.90M | $584.30M |
| Capital Expenditure | $-285.20M | $-164.80M | $-172.90M | $-263.50M | $-322.20M | $-345.00M | $-379.20M | $-430.30M | $-486.30M | $-753.90M |
| Free Cash Flow | $182.00M | $206.50M | $153.70M | $103.00M | $152.10M | $100.90M | $-97.40M | $-109.40M | $1.60M | $-169.60M |