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SeaDrill Limited Message Board

  • madmoneycramer madmoneycramer May 16, 2013 9:59 PM Flag

    SDRL: Balance sheet is not ideal..... $650M cash vs $12B debt??? should cut dividend by $1.00

     

    and pay down debt a bit more.....

    Balance Sheet
    Total Cash (mrq): 651.00M
    Total Debt (mrq): 12.22B ???
    Total Debt/Equity (mrq): 202.77

    Book Value Per Share (mrq): 11.73

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    • You have conveniently forgotten firm future contract revenue of some $20 billion - they have a lot of debt, but this is conventionally financed against asset value and revenue commitments. You don't need as much cash on hand when you already know what sales are going to be over the next 3 or 4 years.

      Sentiment: Buy

 
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