What is the cash flow this year and net debt up to now for exm and drys? What is the cash flow and net debt if the new debt and revenue for new 4 drill ships are included? Let's assume the 4 drill ship will get the same rate.
The cash flow here mean that cash generated from operating minus interest and tax.
OK,I took a quick look. It looks like the net debt will be around $1.5b after 300m stock offer for DRYS. The cash flow is around $400m each year. So it will take around 4 years to have ability to pay the all debt if they don't invest any cash. The net debt will be around $3.0b if new loan for drillship is included. The cash flow is around $700 each year if 4 drillship can have the same rate as the rate for last one. So it will take less than 5 years to have enough cash to pay all the debt. The net debt for EXM is around 1.1b now. The cash flow is around $160M each year. It will take around 7 years to have enough cash to pay all the debt. So EXM may have more debt problemS than DRYS. I think DRYS price will catch up EXM some time soon.