DWSN
Dawson Geophysical Company
DWSN's fundamentals are strong: revenue grew 86% and its operating margin went from −14% to 4.6%. Its PE isn't a useful guide right now because of how its recent earnings were reported.
DWSN Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Healthy | |
| Under pressure | |
| Strong |
DWSN's revenue, profitability and balance sheet are currently healthy, but its cash flow is under pressure.
DWSN PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 12x | $1.53 | — |
| Cheap | 18x | $2.33 | +53% |
| Fair | 26x | $3.33 | +118% |
| Expensive | 29x | $3.78 | +147% |
Historical ranges are pointers, not guarantees.
DWSN's PE is 12x, but its earnings don't support one, so it isn't a reliable read right now.
DWSN Forward outlook
There aren't enough analyst estimates for DWSN to show an outlook.
DWSN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | $0.13 | +$0.38 |
| Q1 2026 | $0.16 | +$0.45 |
| Q4 2025 | -$0.06 | +$0.07 |
| Q3 2025 | -$0.11 | +$0.05 |
| Q2 2025 | -$0.25 | -$0.07 |
| Q1 2025 | -$0.29 | -$0.05 |
| Q4 2024 | -$0.13 | +$0.32 |
| Q3 2024 | -$0.16 | +$0.36 |
DWSN has returned to profit: it earned $0.13 per share over the past year, after losing money the year before.
DWSN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $17.9M | +82% |
| Q1 2026 | $36.7M | +128% |
| Q4 2025 | $27M | +72% |
| Q3 2025 | $22.7M | +58% |
| Q2 2025 | $9.9M | -21% |
| Q1 2025 | $16.1M | -49% |
| Q4 2024 | $15.6M | -36% |
| Q3 2024 | $14.4M | -37% |
DWSN's revenue is recovering but still below its 2020 peak: $18M last quarter, up 82% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | -17% | +7.2 points |
| Q1 2026 | 22% | +16 points |
| Q4 2025 | 3.1% | +7.4 points |
| Q3 2025 | -5.2% | +35 points |
| Q2 2025 | -24% | +6.6 points |
| Q1 2025 | 6.4% | -12 points |
| Q4 2024 | -4.3% | +5.2 points |
| Q3 2024 | -40% | -15 points |
DWSN's operating margin was −17% last quarter, up 7.2 points from the same quarter a year ago.
DWSN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q4 2025 | $1.4M | +$7.1M |
| Q3 2025 | -$10.2M | -$5.9M |
| Q4 2024 | -$5.7M | -$3M |
| Q3 2024 | -$4.3M | -$409K |
| Q2 2024 | $5.1M | -29% |
| Q1 2024 | $1.2M | +$4.6M |
| Q4 2023 | -$2.7M | +$2.1M |
| Q3 2023 | -$3.9M | +$1.2M |
DWSN has burned cash in most quarters: −$4M over the past year, against −$4M the year before.
DWSN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.2% | -54.9K shares |
| 1 year | +0.2% | +65.9K shares |
| 3 years | +24% | +6.1M shares |
| 5 years | +32% | +7.5M shares |
| Available history | +33% | +7.7M shares |
DWSN has 31M diluted shares, about the same as a year ago.
DWSN Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 1.0x | Very low |
| Q1 2026 | 1.5x | Healthy |
| Q4 2025 | 3.2x | Elevated |
| Q3 2025 | 2.6x | Moderate |
| Q4 2024 | 1.0x | Very low |
| Q2 2024 | -15.0x | Net Cash |
| Q1 2024 | -24.0x | Net Cash |
| Q4 2020 | -12.8x | Net Cash |
DWSN's net debt is about a year of its operating earnings (EBITDA).
DWSN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 35.0 | Neutral |
| Stochastic | 2.3 | Oversold |
DWSN's weekly RSI is 35 (neutral) and its Stochastic is 2 (oversold).
DWSN PE vs Energy Sector
| Metric | DWSN | Sector median | Relative |
|---|---|---|---|
| PE | 12x | 13x | 10% below |
| PE % | 0 | 61 | 61 pts below |
DWSN is trading at 12x earnings, a 10% discount to the Energy sector's median of 13x, though its earnings don't support one.
DWSN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $2.19 | 30% below |
| 20 week MA | $3.48 | 56% below |
| 50 week MA | $3.19 | 52% below |
| 100 week MA | $2.35 | 35% below |
| 200 week MA | $2.04 | 25% below |
DWSN is in a downtrend: it's below all five of its weekly moving averages, and 25% below its 200-week average.
DWSN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $2.36 | $2.15 | -8.9% |
| 2021 | $2.15 | $2.29 | +6.5% |
| 2022 | $2.29 | $2.10 | -8.3% |
| 2023 | $2.10 | $1.83 | -13% |
| 2024 | $1.83 | $1.42 | -22% |
| 2025 | $1.42 | $1.70 | +20% |
| 2026 YTD | $1.70 | $1.53 | -10% |
DWSN has finished lower in four of the last six years. It's down 10% so far in 2026.