Petrofac Ltd

Petrofac's capital structure is highly leveraged, with total liabilities of $3.16 billion and total equity of -$401 million, resulting in a debt-to-equity ratio of -2.32 [doc:HA-latest]. The company's liquidity position is weak, with cash and equivalents of $80 million and a current ratio of 0.72, indicating a potential inability to meet short-term obligations [doc:HA-latest]. Operating cash flow is negative at -$97 million, and free cash flow is -$456 million, further highlighting the company's cash flow challenges [doc:HA-latest]. Profitability metrics are severely negative, with a net loss of $505 million and an operating loss of $420 million. Return on assets is -18.3%, and return on equity is 125.94%, which is misleading due to the negative equity base [doc:HA-latest]. These figures are well below the industry median for profitability and returns, indicating a significant underperformance relative to peers [doc:industry_config]. The company operates through three segments: Engineering & Construction, Asset Solutions, and Integrated Energy Services. Revenue concentration data is not provided, but the Engineering & Construction segment is likely the largest contributor, given its fixed-price project execution services [doc:HA-latest]. Geographic exposure is not explicitly detailed, but the company's operations span onshore and offshore oil and gas projects globally [doc:HA-latest]. Growth trajectory is negative, with a net loss and declining cash flow. The company's capital expenditure of -$16 million suggests a reduction in investment, which may indicate a strategic shift or financial constraints [doc:HA-latest]. Analyst estimates confirm the weak performance, with a last actual EPS of -$0.93 and revenue of $2.496 billion [doc:]. Risk factors include medium liquidity risk and a negative net cash position after subtracting total debt. The company's dilution risk is low, but the negative equity and high leverage increase financial risk [doc:HA-latest]. Recent events, such as the ESG controversies score of 6.8, suggest potential governance and social risks [doc:market data ESG controversies score]. Recent filings and transcripts have not been provided, but the company's financial performance and risk profile suggest a need for close monitoring of its liquidity and debt management strategies [doc:HA-latest].