This report should not be construed as providing investment advice. It is for educational purposes only.  Before making any investment decision, you should always do your own research or consult a investment professional.
While I try to be accurate, I assume no responsibility for any figure in this spreadsheet. 6/30/11
See my website on stocks or see my blog at the following sites.  www.spbrunner.com/stocks.html www.spbrunner.blogspot.com/
Ensign Energy Services www.ensignenergy.com ESI Fiscal Yr: Dec 31
Year 12/31/99 12/31/00 12/31/01 12/31/02 12/31/03 12/31/04 12/31/05 12/31/06 12/31/07 12/31/08 12/31/09 12/31/10 12/31/11 12/30/12 #Y
Revenue* $372.3 $672.0 $767.7 $651.8 $929.0 $1,059.5 $1,520.7 $1,807.2 $1,577.6 $1,705.6 $1,137.6 $1,355.7 $1,815.0 $2,233.0 101.73% <-Total Growth 10 Revenues
Increase -11.12% 80.50% 14.23% -15.10% 42.53% 14.05% 43.53% 18.84% -12.71% 8.11% -33.30% 19.17% 33.88% 23.03% 7.27% <-IRR #YR-> 10 Revenues
Rev per Share $2.58 $4.59 $5.20 $4.37 $6.18 $7.02 $10.04 $11.87 $10.31 $11.14 $7.42 $8.85 $11.88 $14.62 -2.27% <-IRR #YR-> 5 Revenues
P/S (Price/Sales) 2.16 2.02 1.28 1.91 1.67 1.79 2.34 1.55 1.48 1.19 2.02 1.70 1.28 1.04 6.79% <-IRR #YR-> 10 Rev Per share
Averages P/S 10 yr  1.68 5 yr  1.55 -2.50% <-IRR #YR-> 5 Rev Per share
*Revenue in M CDN $ 
-$672.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $1,355.7
-$1,520.7 $0.0 $0.0 $0.0 $0.0 $1,355.7
-$4.59 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $8.85
-$10.04 $0.00 $0.00 $0.00 $0.00 $8.85
YR 2011 YR 2012
EPS* $0.21 $0.59 $0.67 $0.35 $0.65 $0.77 $1.09 $2.18 $1.62 $1.68 $0.82 $0.79 $1.39 $1.79 35.04% <-Total Growth 10 Earnings
Increase -41.98% 185.37% 14.53% -48.51% 86.96% 19.38% 41.56% 100.00% -25.69% 3.70% -51.19% -3.66% 75.95% 28.78% 3.05% <-IRR #YR-> 10 Earnings
Earnings Yield 3.7% 6.3% 10.0% 4.1% 6.3% 6.1% 4.6% 11.9% 10.6% 12.7% 5.5% 5.3% 9.2% 11.8% -6.24% <-IRR #YR-> 5 Earnings
* ESP per share (Cdn GAAP) E/P 10 Yrs 6.20% 5Yrs 10.62%
-$0.59 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.79
-$1.09 $0.00 $0.00 $0.00 $0.00 $0.79
Pre-split '01 $0.46 $0.52
Pre-split '06 $0.15 $0.17 $0.20 $0.21 $0.24 $0.29
Div* $0.08 $0.09 $0.10 $0.10 $0.12 $0.15 $0.17 $0.28 $0.32 $0.33 $0.34 $0.36 $0.38 $0.38 316.50% <-Total Growth 10 Dividends
Increase 2.78% 11.35% 14.58% 4.22% 14.63% 23.40% 17.24% 64.71% 15.18% 3.10% 3.01% 4.38% 6.29% 0.00% 14.61% <-Median-> 10 Dividends
Yield H/L 1.80% 1.19% 1.30% 1.37% 1.26% 1.27% 0.94% 1.29% 1.72% 1.87% 2.55% 2.51% 1.34% <-Median-> 10 Dividends
Yield on High 1.20% 0.90% 0.99% 1.15% 1.09% 1.13% 0.70% 1.06% 1.37% 1.34% 1.91% 2.12% 1.14% <-Median-> 10 Dividends
Yield on Low 3.56% 1.73% 1.92% 1.69% 1.49% 1.44% 1.43% 1.66% 2.32% 3.13% 3.81% 3.08% 1.80% <-Median-> 10 Dividends
Yield on Cl 1.38% 0.93% 1.47% 1.23% 1.14% 1.16% 0.72% 1.52% 2.11% 2.52% 2.28% 2.38% 2.51% 2.51% 1.50% <-Median-> 10 Dividends
Payout Ratio 37.6% 14.7% 14.7% 29.7% 18.2% 18.8% 15.6% 12.8% 19.9% 19.8% 41.8% 45.3% 27.3% 21.2% 19.31% <-Median-> 10 Payout
Payout Ratio CF 16.3% 14.5% 10.4% 17.1% 12.0% 12.4% 9.2% 10.8% 16.0% 15.4% 18.3% 20.3% 13.1% 11.3% 13.90% <-Median-> 10 Payout
Median 5 Yrs Div Yd 3.35% 5 4.49% 10 Yield  1.87% 2.28% Payout 19.91% 15.97% 15.34% <-IRR #YR-> 10 Dividends
* Dividends per share  6.0% Years 6.0% Years Last Div Inc ---> $0.088 $0.095 16.03% <-IRR #YR-> 5 Dividends
-$0.09 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.36
-$0.17 $0.00 $0.00 $0.00 $0.00 $0.36
H/LYield held 5 yrs 10.05% 3.47% 1.52% 2.98% 3.38% 2.35% 3.71% 4.31% 3.56% 3.00% 1.98% 1.76% 2.03% 3.19% <-Median-> 10 Dividends
H/LYield held 10 yrs 19.90% 9.88% 4.78% 8.44% 7.99% 4.95% 5.04% 5.08% 8.21% <-Median-> 6 Dividends
Graham No. $2.87 $5.52 $6.64 $4.97 $7.38 $8.64 $11.18 $18.89 $17.21 $19.63 $13.58 $13.50 $18.05 $20.48 144.74% <-Total Growth 10 Graham Price
Prem /Disc Med H/L 49.43% 31.06% 13.48% 50.30% 26.72% 32.25% 61.74% 14.62% 8.66% -9.66% -0.93% 5.48% 14.05% <-Median-> 10 Graham Price
Prem /Disc. High 123.34% 72.23% 49.81% 78.45% 46.27% 48.14% 116.87% 40.03% 36.46% 26.59% 31.85% 25.11% 43.15% <-Median-> 10 Graham Price
Prem /Disc. Low -24.49% -10.11% -22.84% 22.15% 7.16% 16.36% 6.60% -10.79% -19.14% -45.90% -33.71% -14.15% -12.47% <-Median-> 10 Graham Price
Prem /Disc. Cl 94.82% 67.70% 0.57% 67.49% 39.63% 45.31% 109.81% -2.64% -11.41% -32.66% 10.49% 11.34% -16.00% -25.97% 10.91% <-Median-> 10 Graham Price
Pre-split '01
Pre-split '06
Price Cl $5.59 $9.25 $6.68 $8.33 $10.30 $12.55 $23.46 $18.39 $15.25 $13.22 $15.00 $15.03 $15.16 $15.16 62.49% <-Total Growth 10 Stock Price
Increase 148.44% 65.47% -27.78% 24.70% 23.65% 21.84% 86.93% -21.61% -17.07% -13.31% 13.46% 0.20% 0.86% 0.00% 4.97% <-IRR #YR-> 10 Stock Price
P/E 27.27 15.81 9.97 24.14 15.97 16.30 21.52 8.44 9.41 7.87 18.29 19.03 10.91 8.47 -8.52% <-IRR #YR-> 5 Stock Price
Trailing P/E 15.82 45.12 11.42 12.43 29.86 19.46 30.47 16.87 7.00 8.16 8.93 18.33 19.19 10.91 6.81% <-IRR #YR-> 10 Price & Div
Median 10, 5 Yrs 1.84% 1.69% Div %  Ret. Price Inc -13.31% P/E:  16.13 9.41 -6.83% <-IRR #YR-> 5 Price & Div
-$9.25 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $15.03
-$23.46 $0.00 $0.00 $0.00 $0.00 $15.03
-$9.25 $0.10 $0.10 $0.12 $0.15 $0.17 $0.28 $0.32 $0.33 $0.34 $15.39
-$23.46 $0.28 $0.32 $0.33 $0.34 $15.39
Price Average H/L $4.29 $7.23 $7.54 $7.48 $9.35 $11.42 $18.09 $21.65 $18.71 $17.74 $13.45 $14.24 96.98% <-Total Growth 10 Stock Price
Increase 8.77% 68.61% 4.27% -0.83% 25.05% 22.20% 58.33% 19.71% -13.60% -5.19% -24.16% 5.87% 7.01% <-IRR #YR-> 10 Stock Price
P/E 20.91 12.36 11.25 21.67 14.49 14.83 16.59 9.93 11.55 10.56 16.40 18.03 -4.67% <-IRR #YR-> 5 Stock Price
Trailing P/E 12.13 35.26 12.88 11.16 27.09 17.71 23.49 19.86 8.58 10.95 8.01 17.37 9.14% <-IRR #YR-> 10 Price & Div
Median 10, 5 Yrs 2.12% 2.00% Div %  Ret. Price Inc -5.19% P/E:  14.66 11.55 -2.67% <-IRR #YR-> 5 Price & Div
-$7.23 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $14.24
-$18.09 $0.00 $0.00 $0.00 $0.00 $14.24
-$7.23 $0.10 $0.10 $0.12 $0.15 $0.17 $0.28 $0.32 $0.33 $0.34 $14.60
-$18.09 $0.28 $0.32 $0.33 $0.34 $14.60
Hi Mths Jul-Sep Jul-Sep Apr-Jun May Oct Dec Dec Jun May Jul Jun Jan
Pre-split '01 $38.45 $57.00
Pre-split '06 $12.82 $19.00 $19.90 $17.75 $21.58 $25.59
Price Hi $6.41 $9.50 $9.95 $8.88 $10.79 $12.80 $24.25 $26.45 $23.49 $24.85 $17.90 $16.89 77.79% <-Total Growth 10 Stock Price
Increase 7.40% 48.24% 4.74% -10.80% 21.58% 18.58% 89.53% 9.07% -11.19% 5.79% -27.97% -5.64% 5.92% <-IRR #YR-> 10 Stock Price
P/E 31.26 16.24 14.85 25.72 16.73 16.62 22.25 12.13 14.50 14.79 21.83 21.38 -6.98% <-IRR #YR-> 5 Stock Price
Trailing P/E 18.14 46.34 17.01 13.25 31.28 19.84 31.49 24.27 10.78 15.34 10.65 20.60
Median 10, 5 Yrs Price Inc -5.64% P/E:  16.67 14.79
-$9.50 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $16.89
-$24.25 $0.00 $0.00 $0.00 $0.00 $16.89
Low Mths Jan-Mar Jan-Mar Jul-Sep Jan-Mar Jan-Mar Jul-Sep Jan Nov Dec Dec Feb Sep
Price Low $2.17 $4.96 $5.13 $6.08 $7.91 $10.05 $11.92 $16.85 $13.92 $10.62 $9.00 $11.59 133.75% <-Total Growth 10 Stock Price
Increase 13.04% 128.85% 3.36% 18.54% 30.12% 27.13% 18.61% 41.36% -17.39% -23.71% -15.25% 28.78% 8.86% <-IRR #YR-> 10 Stock Price
P/E 10.57 8.48 7.65 17.61 12.26 13.05 10.94 7.73 8.59 6.32 10.98 14.67 -0.56% <-IRR #YR-> 5 Stock Price
Trailing P/E 6.13 24.19 8.76 9.07 22.91 15.58 15.48 15.46 6.39 6.56 5.36 14.13
Median 10, 5 Yrs Price Inc -15.25% P/E:  10.96 8.59
-$4.96 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $11.59
Yr 2011 Yr 2012
Market Cap $805 $1,355 $986 $1,243 $1,548 $1,894 $3,552 $2,800 $2,334 $2,024 $2,298 $2,303 $2,315 $2,315
# of Sh in M 144.08 146.51 147.64 149.22 150.33 150.90 151.41 152.27 153.04 153.14 153.23 153.21 152.73 152.73 Capital Stock Shares
Increase 1.89% 1.68% 0.77% 1.07% 0.74% 0.38% 0.34% 0.57% 0.51% 0.06% 0.06% -0.01% -0.31% 0.00% 0.45% <-Average 10 Shares
CF fr Op $M 68.1 86.9 140.0 89.3 146.6 176.2 280.2 395.2 309.1 331.0 286.2 269.2 441.4 513.2 209.81% <-Total Growth 10 Cash Flow
OPS $0.47 $0.59 $0.95 $0.60 $0.98 $1.17 $1.85 $2.60 $2.02 $2.16 $1.87 $1.76 $2.89 $3.36 196.26% <-Total Growth 10 Cash Flow
Increase -15.08% 25.48% 59.88% -36.89% 62.97% 19.69% 58.53% 40.21% -22.16% 7.01% -13.58% -5.93% 64.45% 16.26% 16.97% <-Average 10 Cash Flow
Non-Cash  -$5.59 $19.00 $7.94 $10.76 $26.76 $12.55 $56.94 $25.02 -$13.10 $75.75 -$28.84 $27.77 $0.00 $0.00 11.47% <-IRR #YR-> 10 Cash Flow
OPS Less Non-Cash $0.43 $0.72 $1.00 $0.67 $1.15 $1.25 $2.23 $2.76 $1.93 $2.66 $1.68 $1.94 $2.89 $3.36 -1.03% <-IRR #YR-> 5 Cash Flow
P/OCF on Close 12.88 12.80 6.67 12.42 8.93 10.03 10.53 6.66 7.88 4.98 8.93 7.75 5.25 4.51 10.37% <-IRR #YR-> 10 CF - non-cash
*Operational Cash Flow per share P/CF 10 yr 8.41 5 yr  7.75 -2.73% <-IRR #YR-> 5 CF - non-cash
-$0.59 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.76
-$1.85 $0.00 $0.00 $0.00 $0.00 $1.76
-$0.72 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.94
-$2.23 $0.00 $0.00 $0.00 $0.00 $1.94
OPM 18.29% 12.93% 18.24% 13.70% 15.78% 16.63% 18.43% 21.87% 19.60% 19.41% 25.16% 19.86% 24.32% should be zero, it is a check on calculations
Diff from Ave -3.3% -31.6% -3.6% -27.6% -16.6% -12.1% -2.6% 15.6% 3.6% 2.6% 33.0% 5.0% 28.5% 0.00 <-Median-> 10 OPM
*Operational Profit Margin (CF/Revenue) Ratio OPM 10 Yrs 18.92% 5 Yrs 19.86%
Q2 2011
Curr Assets $152.31 $220.06 $199.80 $224.80 $293.72 $329.87 $492.10 $467.88 $395.78 $518.26 $445.34 $488.51 $467.74 Liq ratio of 1.5 and up, best Assets
Curr Liab. $114.56 $168.25 $123.24 $258.40 $307.03 $315.66 $503.98 $404.72 $335.51 $411.23 $337.45 $392.58 $384.61 1.17 <-Median-> 10 Liabilities
Liquidity 1.33 1.31 1.62 0.87 0.96 1.05 0.98 1.16 1.18 1.26 1.32 1.24 1.22 1.24 <-Median-> 5 Ratio
Assets $489.47 $606.63 $643.03 $867.80 $1,034.69 $1,139.24 $1,522.34 $1,762.15 $1,786.6 $2,228.8 $2,128.1 $2,244.2 $2,284.9 A/L ratio of 1.5 and up, best Assets
Liab. $232.30 $267.97 $210.98 $392.33 $471.04 $489.50 $750.44 $654.54 $542.4 $667.7 $597.3 $673.4 $694.4 2.87 <-Median-> 10 Liabilities
Liquidity 2.11 2.26 3.05 2.21 2.20 2.33 2.03 2.69 3.29 3.34 3.56 3.33 3.29 3.33 <-Median-> 5 Ratio
Book Value $257.17 $338.65 $432.06 $475.48 $563.66 $649.74 $771.90 $1,108 $1,244 $1,561 $1,531 $1,571 $1,590 363.85% <-Total Growth 10 Book Value
BV per share $1.78 $2.31 $2.93 $3.19 $3.75 $4.31 $5.10 $7.27 $8.13 $10.19 $9.99 $10.25 $10.41 $10.41 343.56% <-Total Growth 10 Book Value
Change -3.63% 29.51% 26.60% 8.89% 17.67% 14.83% 18.40% 42.68% 11.77% 25.40% -2.00% 2.63% 1.57% 0.6052 Current/Historical Book Value
P/BV (CL) 3.13 4.00 2.28 2.61 2.75 2.91 4.60 2.53 1.88 1.30 1.50 1.47 1.46 16.06% <-IRR #YR-> 10 Book Value
Change 157.79% 27.77% -42.96% 14.52% 5.08% 6.10% 57.88% -45.06% -25.80% -30.87% 15.78% -2.37% -0.69% 15.00% <-IRR #YR-> 5 Book Value
Leverage (A/BK) 1.90 1.79 1.49 1.83 1.84 1.75 1.97 1.59 1.44 1.43 1.39 1.43 1.44 1.54 <-Median-> 10 A/BV
Debt/Equity Ratio 0.90 0.79 0.49 0.83 0.84 0.75 0.97 0.59 0.44 0.43 0.39 0.43 0.44 0.54 <-Median-> 10 Debt/Eq Ratio
Sharerholders Equity (Assets less liabilities) P/BV 10 yr Ave 2.41 5 yr Ave 1.50
-$2.31 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $10.25
-$5.10 $0.00 $0.00 $0.00 $0.00 $10.25
Q2 2011
ROE 0.0% 0.0% 0.0% 0.0% 2.0% 6.0% 6.6% 0.00% <-Median-> 5 Compreh. Inc
Comprehensive Inc $0.00 $0.00 $0.00 $0.00 $30.66 $94.43 $105.18 <-12 mths Compreh. Inc
ROE 11.6% 25.7% 23.3% 10.9% 17.6% 18.3% 22.0% 30.8% 20.1% 14.5% 8.2% 7.7% 10.2% <------- Net Income/Shareholders' equity
5Yr Median 27.7% 25.7% 23.3% 18.6% 17.6% 18.3% 18.3% 18.3% 20.1% 20.1% 20.1% 14.5% 10.2% <-12 mths
Net Income $29.84 $87.00 $100.83 $51.74 $99.03 $118.85 $169.67 $341.28 $249.77 $225.96 $125.44 $121.43 $162.34 <-12 mths 39.57% <-Total Growth 10 Net Income
Oper C. F. $68.11 $86.91 $140.02 $89.31 $146.63 $176.18 $280.25 $395.16 $309.15 $331.03 $286.24 $269.25 C F Statement  Oper C. F.
Invest. C. F -$45.08 -$72.38 -$71.03 -$180.62 -$126.89 -$138.09 -$311.76 -$285.43 -$326.15 -$239.04 -$175.46 -$252.75 C F Statement  Invest. C. F
Total Accruals $6.81 $72.47 $31.84 $143.06 $79.29 $80.76 $201.18 $231.56 $266.77 $133.97 $14.66 $104.93 Accruals
Total Assets $489.5 $606.6 $643.0 $867.8 $1,034.7 $1,139.2 $1,522.3 $1,762.1 $1,786.6 $2,228.8 $2,128.1 $2,244.2 Balance Sheet Assets
Accruals Ratio 1.39% 11.95% 4.95% 16.49% 7.66% 7.09% 13.22% 13.14% 14.93% 6.01% 0.69% 4.68% Ratio
up/down/neutral Need free cash flow (cash from operations, with depreciation and amortization added back and capital spending subtracted) to amply cover the payouts.
Chge in Close 148.44% 65.47% -27.78% 24.70% 23.65% 21.84% 86.93% -21.61% -17.07% -13.31% 13.46% 0.20%
Any Predictions?
Fin. C. F -$24.71 -$21.33 -$30.44 $64.90 -$20.94 -$44.04 $47.80 -$127.15 $4.38 $1.98 -$71.53 -$62.13 C F Statement  Fin. C. F
Total Accruals $31.51 $93.81 $62.28 $78.16 $100.23 $124.80 $153.38 $358.71 $262.40 $131.99 $86.19 $167.06 Accruals
Accruals Ratio 6.44% 15.46% 9.68% 9.01% 9.69% 10.95% 10.08% 20.36% 14.69% 5.92% 4.05% 7.44% Ratio
October 10, 2011.  Last estimates that I got for 2010 and 2011 were $.74 and $1.10 for EPS and $1.78 and $2.30 for CF
Oct 11, 2010.  Last time I looked at this stock I got 2009 and 2010 estimates of $1.10 and $1.10 for earnings $1.59 and $2.00 for CF.
May 15, 2009 reviewed spreadsheet estimates for blog.
May 7, 2009 started spreadsheet.  They have paid dividends since Sep 1995.
How they make their money.
With headquarters in Calgary, Alberta, Ensign is an industry leader in the delivery of oilfield services worldwide to the oil and gas industry.  They operate in North and South American, Middle East, 
South East Asia, Africa, Australia and New Zealand.
For most ratios, lower is better when looking for a good stock price.  However, there are exceptions such as for yield and asset/liability ratios and here you want a higher ratios to indicate a good stock price.  
Also, for the Operational Profit Margin, a higher percentage is better.  With the OPM, you should only compare companies in similar industries.
Copyright © 2008 Website of SPBrunner. All rights reserved.
Geddes, Robert Harold (CEO) 0.266 $4,034,440 0.17%
Dagenais, Glenn Orval James (CFO) 0.862 $13,068,451 0.56%
Edwards, Norman Murray (officer) 25.404 $385,127,369 16.63%
Porter, Selby Warren 0.735 $11,144,010 0.48%
Howe, James Brian 0.430 $6,512,584 0.28%
Instituions 54.191
3.504 6.91%
50.687