RPC, Inc. (RES)

Industry: Oil & Gas Equipment & Services Model: Peers Multiples Valuation

Valuation Snapshot

Ticker	Rank	Name	Rev TTM (M)	Trailing P/E	Forward P/E	Trailing EV/EBITDA	Forward EV/EBITDA	Trailing EV/EBIT	Forward EV/EBIT
VAL	22	Valaris Limited	2,416	8.64	8.64	4.82	4.82	7.67	7.01
VAL-WT	23	Valaris Limited Wa	2,416	8.64	8.64	4.82	4.82	7.67	7.01
002353.SZ	24	Yantai Jereh Oilfi	2,232	20.10	17.86	15.71	14.46	22.18	14.58
PFHC	25	ProFrac Holding Co	1,960	-	-	17.96	17.96	-	-
CEU.TO	26	CES Energy Solutio	1,766	11.49	11.49	6.91	6.91	9.71	5.05
XPRO	27	Expro Group Holdin	1,662	19.90	19.90	4.55	4.55	10.16	9.87
0196.HK	28	Honghua Group Limi	1,592	-	-	9.39	11.76	15.89	184.19
RES	29	RPC, Inc.	1,536	21.76	21.76	4.18	2.11	11.18	15.70
VTOL	30	Bristow Group Inc.	1,490	7.31	7.31	7.33	6.57	8.49	10.82
AROC	31	Archrock, Inc.	1,439	17.32	17.32	9.42	8.32	99.61	11.74
7293.KL	32	Yinson Holdings Be	1,430	11.94	10.28	6.61	5.29	7.72	4.79
3337.HK	33	Anton Oilfield Ser	1,409	7.18	7.18	1.93	1.61	2.74	2.30
TDW	34	Tidewater Inc.	1,361	17.40	17.40	6.13	6.13	11.55	9.58
SLCA	35	U.S. Silica Holdin	1,346	13.55	13.55	8.75	8.92	10.09	9.42
CGG.PA	36	CGG	1,346	12.12	12.12	3.29	3.57	16.09	9.68
HLX	37	Helix Energy Solut	1,312	22.58	20.46	5.73	5.39	6.52	10.94

Line Item	Trailing P/E	Forward P/E	Trailing EV/EBITDA	Forward EV/EBITDA	Trailing EV/EBIT	Forward EV/EBIT
Winsorized Median Multiple	11.94	11.49	6.13	5.39	9.10	9.50
Full Range Median Multiple	12.12	12.12	6.61	6.13	9.90	9.63
Industry Multiple	13.71	13.24	7.56	7.41	16.86	21.21
Market Implied Multiple	28.02	28.02	5.53	2.79	14.78	20.76
Company (RES) Multiple	21.76	21.76	4.18	2.11	11.18	15.70
(*) Net Income / EBITDA / Revenue	48	48	222	441	83	59
Winsorized Enterprise Value	N/A	N/A	1,364	2,376	757	563
Full Range Median Enterprise Value	N/A	N/A	1,470	2,703	824	570
(-) Net Debt	-112	-112	-112	-112	-112	-112
Winsorized Equity Value	572	551	1,477	2,488	869	675
Full Range Median Equity Value	580	580	1,582	2,816	936	683
(/) Shares Outstanding	219	219	219	219	219	219
Winsorized Fair Value	$2.61	$2.51	$6.74	$11.36	$3.97	$3.08
Full Range Median Fair Value	$2.65	$2.65	$7.23	$12.86	$4.28	$3.12
Current Price	$6.13	$6.13	$6.13	$6.13	$6.13	$6.13
Upside / Downside	-57.40%	-58.98%	10.01%	85.38%	-35.22%	-49.71%
Safety Margin	30.0%	30.0%	30.0%	30.0%	30.0%	30.0%
Buy Price	$1.83	$1.76	$4.72	$7.95	$2.78	$2.16
Buy / Don't Buy	Don’t Buy	Don’t Buy	Don’t Buy	BUY	Don’t Buy	Don’t Buy