Solaris Oilfield Infrastructure Inc. (SOI) Financial Statements (2025 and earlier)
Company Profile
| Business Address |
9651 KATY FREEWAY HOUSTON, TX 77024 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 3533 - Oil and Gas Field Machinery and Equipment (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 9/30/2024 MRQ | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 5,833 | 8,835 | 36,497 | 60,366 | 66,882 | 25,057 | |||
| Cash and cash equivalents | 5,833 | 8,835 | 36,497 | 60,366 | 66,882 | 25,057 | |||
| Restricted cash and investments | |||||||||
| Receivables | 13,523 | 64,543 | 39,513 | 18,243 | 38,787 | 39,978 | |||
| Inventory, net of allowances, customer advances and progress billings | 6,672 | 5,289 | 1,654 | 954 | 7,144 | 10,470 | |||
| Inventory | 6,672 | 5,289 | 1,654 | 954 | 7,144 | 10,470 | |||
| Prepaid expense | 1,166 | 964 | 720 | 554 | 865 | 576 | |||
| Asset, held-for-sale, not part of disposal group | 3,000 | ||||||||
| Deposits current assets | 123 | 122 | 75 | 77 | 1,245 | 882 | |||
| Other current assets | 2,095 | 2,140 | 2,054 | 1,295 | 1,837 | 1,232 | |||
| Other undisclosed current assets | 34,729 | 6,850 | 555 | 243 | 822 | 2,570 | |||
| Total current assets: | 67,141 | 88,743 | 81,068 | 81,732 | 117,582 | 80,765 | |||
| Noncurrent Assets | |||||||||
| Inventory, Noncurrent | 1,593 | 1,569 | 2,676 | 3,318 | |||||
| Finance lease, right-of-use asset, after accumulated amortization | ✕ | ||||||||
| Operating lease, right-of-use asset | 10,721 | 4,033 | 4,182 | 4,708 | 7,871 | ✕ | |||
| Property, plant and equipment | 306,583 | 296,538 | |||||||
| Intangible assets, net (including goodwill) | 13,706 | 14,433 | 15,207 | 15,986 | 20,997 | 21,776 | |||
| Goodwill | 13,004 | 13,004 | 13,004 | 13,004 | 17,236 | 17,236 | |||
| Intangible assets, net (excluding goodwill) | 702 | 1,429 | 2,203 | 2,982 | 3,761 | 4,540 | |||
| Deferred income tax assets | 48,010 | 55,370 | 62,942 | 59,805 | 51,414 | ✕ | |||
| Other noncurrent assets | 342 | 268 | 57 | 463 | 625 | 1,454 | |||
| Accounts receivable, excluding accrued interest, after allowance for credit loss | ✕ | 1,663 | ✕ | ✕ | ✕ | ||||
| Other undisclosed noncurrent assets | 325,121 | 298,160 | 240,091 | 245,884 | 24,624 | ||||
| Total noncurrent assets: | 401,156 | 373,833 | 325,155 | 330,164 | 387,490 | 344,392 | |||
| TOTAL ASSETS: | 468,297 | 462,576 | 406,223 | 411,896 | 505,072 | 425,157 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 32,946 | 51,186 | 26,845 | 18,849 | 18,271 | 21,785 | |||
| Accounts payable | 12,654 | 25,934 | 9,927 | 6,863 | 3,824 | 9,127 | |||
| Accrued liabilities | 20,292 | 25,252 | 16,918 | 11,986 | 14,447 | 12,658 | |||
| Deferred revenue | ✕ | ||||||||
| Debt | 2,462 | 1,924 | 31 | 30 | 626 | 35 | |||
| Other liabilities | 408 | 790 | 496 | 75 | 74 | 515 | |||
| Due to related parties | ✕ | ✕ | 72 | 80 | 55 | 74 | |||
| Contract with customer, liability | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 12,990 | ||
| Other undisclosed current liabilities | 1,385 | 1,937 | 1,847 | 1,198 | 1,342 | ||||
| Total current liabilities: | 37,201 | 55,909 | 29,299 | 20,207 | 20,387 | 35,325 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 32,401 | 11,429 | 6,772 | 7,519 | 7,985 | 13,154 | |||
| Long-term debt, excluding current maturities | 30,000 | 8,000 | 13,000 | ||||||
| Capital lease obligations | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 154 | ||
| Finance lease, liability | 2,401 | 3,429 | 70 | 100 | 130 | ✕ | |||
| Liabilities, other than long-term debt, including: | 11,585 | 78,109 | 72,276 | 68,691 | 67,042 | 633 | |||
| Contract with customer, liability | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 12,468 | ||
| Due to related parties | ✕ | ✕ | 71,530 | 71,892 | 68,097 | 66,582 | 56,149 | ||
| Other liabilities | 44 | 367 | 384 | 594 | 460 | ||||
| Operating lease, liability | 11,541 | 6,212 | 6,702 | 7,419 | 7,855 | ✕ | |||
| Other undisclosed liabilities, other than long-term debt | (67,984) | ||||||||
| Other undisclosed noncurrent liabilities | 71,530 | 68,617 | |||||||
| Total noncurrent liabilities: | 115,516 | 89,538 | 79,048 | 76,210 | 75,027 | 82,404 | |||
| Total liabilities: | 152,717 | 145,447 | 108,347 | 96,417 | 95,414 | 117,729 | |||
| Equity | |||||||||
| Equity, attributable to parent, including: | 205,983 | 215,715 | 203,149 | 201,254 | 263,847 | 168,521 | |||
| Treasury stock, value | (2,526) | (1,414) | |||||||
| Additional paid in capital | 188,379 | 202,551 | 196,912 | 180,415 | 191,843 | 126,347 | |||
| Retained earnings | 17,314 | 12,847 | 5,925 | 20,549 | 74,222 | 43,317 | |||
| Other undisclosed equity, attributable to parent | 290 | 317 | 312 | 290 | 308 | 271 | |||
| Equity, attributable to noncontrolling interest | 109,597 | 101,414 | 94,727 | 114,225 | 145,811 | 138,907 | |||
| Total equity: | 315,580 | 317,129 | 297,876 | 315,479 | 409,658 | 307,428 | |||
| TOTAL LIABILITIES AND EQUITY: | 468,297 | 462,576 | 406,223 | 411,896 | 505,072 | 425,157 | |||
Income Statement (P&L) ($ in thousands)
| 9/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 292,947 | 320,005 | 159,189 | 102,976 | 241,687 | 197,196 | ||
| Cost of revenue | (214,671) | (255,127) | (140,312) | (71,546) | (88,246) | (70,967) | ||
| Cost of goods and services sold | (177,847) | (219,775) | (115,459) | (2,565) | ||||
| Gross profit: | 78,276 | 64,878 | 18,877 | 31,430 | 153,441 | 126,229 | ||
| Operating expenses | (28,374) | (23,074) | (19,264) | (91,330) | (45,511) | (26,942) | ||
| Other operating income (expense), net | (639) | (1,847) | 2,357 | (5,782) | (585) | |||
| Other undisclosed operating income (loss) | 639 | 1,847 | (2,357) | 5,782 | 585 | |||
| Operating income (loss): | 49,902 | 41,804 | (387) | (59,900) | 107,930 | 99,287 | ||
| Interest and debt expense | (327) | (115) | (4) | (176) | (634) | (374) | ||
| Income (loss) from continuing operations before equity method investments, income taxes: | 49,575 | 41,689 | (391) | (60,076) | 107,296 | 98,913 | ||
| Other undisclosed income (loss) from continuing operations before income taxes | (2,980) | (374) | (243) | 14 | ||||
| Income (loss) from continuing operations before income taxes: | 46,595 | 41,315 | (634) | (60,062) | 107,296 | 98,913 | ||
| Income tax expense (benefit) | (7,820) | (7,803) | (626) | 8,969 | (16,936) | (12,961) | ||
| Income (loss) from continuing operations: | 38,775 | 33,512 | (1,260) | (51,093) | 90,360 | 85,952 | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | (1,260) | (51,093) | 90,360 | 85,952 | |
| Net income (loss): | 38,775 | 33,512 | (1,260) | (51,093) | 90,360 | 85,952 | ||
| Net income (loss) attributable to noncontrolling interest | (14,439) | (12,354) | 392 | 21,752 | (38,353) | (43,521) | ||
| Net income (loss) attributable to parent: | 24,336 | 21,158 | (868) | (29,341) | 52,007 | 42,431 | ||
| Undistributed earnings (loss) allocated to participating securities, basic | (1,169) | (847) | (365) | (314) | (1,120) | (1,230) | ||
| Other undisclosed net income available to common stockholders, basic | ||||||||
| Net income (loss) available to common stockholders, diluted: | 23,167 | 20,311 | (1,233) | (29,655) | 50,887 | 41,201 | ||
Comprehensive Income ($ in thousands)
| 9/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | 38,775 | 33,512 | (1,260) | (51,093) | 90,360 | 85,952 | ||
| Comprehensive income (loss): | 38,775 | 33,512 | (1,260) | (51,093) | 90,360 | 85,952 | ||
| Comprehensive income (loss), net of tax, attributable to noncontrolling interest | (14,439) | (12,354) | 392 | 21,752 | (38,353) | (43,521) | ||
| Comprehensive income (loss), net of tax, attributable to parent: | 24,336 | 21,158 | (868) | (29,341) | 52,007 | 42,431 | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.