Image Source: Dril-Quip Inc – 2018 Annual Report
By Callum Turcan
Dril-Quip Inc (DRQ) is a well-run oilfield services company that operates in a tough industry at a brutal time. The company primarily caters to the offshore upstream oil & gas space and its main products include surface and subsea wellheads, drilling and production riser systems, subsea control systems, and more. Dril-Quip does not pay out a common dividend at this time and has instead opted to maintain a pristine balance sheet, which we really like.
Our fair value estimate for Dril-Quip, derived