Dawson Geophysical Company

DWSN

$3.63

+9.34%

2026-09-03 16:00:01 EDT+$0.31

Energy

Oil & Gas Equipment & Services

NASDAQ

Active Trading

Dawson Geophysical Company (DWSN) specializes in the collection and interpretation of onshore seismic data, operating across both the United States and Canada. ...

Price Action of DWSN

$3.63

+9.34%+$0.31

High—

Low—

52W High-53.8%

Rel. vol—

Interval

Range3.9h

Volume—SMA5SMA10

—

Dawson Geophysical Company, headquartered in Midland, Texas, is a leading provider of onshore seismic data acquisition services in North America. Founded in 1952 by L. Decker Dawson, the company has built a reputation for innovation and integrity, operating for over six decades. Dawson acquires and processes 2D, 3D, and multi-component ...Dawson Geophysical Company, headquartered in Midland, Texas, is a leading provider of onshore seismic data acquisition services in North America. Founded in 1952 by L. Decker Dawson, the company has built a reputation for innovation and integrity, operating for over six decades. Dawson acquires and processes 2D, 3D, and multi-component seismic data for a diverse clientele, including major and independent oil and gas companies and multi-client data repositories. The company serves both land and transitional zone operations and extends services to potash mining. As of the latest data, Dawson has 269 full-time employees and operates with a focus on safety, achieving a recordable injuries rate of zero. The company is led by CEO Tony Clark, who joined in April 2023 as part of an asset purchase, with a team including Ray Mays as COO and Ian Shaw as CFO. Financially, Dawson reported a market capitalization of approximately $131 million, with a price-to-earnings ratio of 27.06 and a return on equity of 26.7%. The company has a gross profit margin of 25.1% and an EBITDA margin of 12.6%, indicating operational efficiency. Dawson's services are critical for petroleum resource development, and it continues to adapt to industry trends, focusing on onshore seismic acquisition despite market fluctuations. The company is a subsidiary of Wilks Brothers, LLC, and trades on NASDAQ under the symbol DWSN.ExpandCollapse

Founded

1952

Employees

269

CEO

Anthony Clark

Full Name

Dawson Geophysical Company

Sector

Energy

Industry

Oil & Gas Equipment & Services

ROE

19.56%

Market Cap

$0.11B

Current Ratio

0.87

WACC

5.32%

ROIC

15.55%

Contact Information

https://www.dawson3d.com

432 684 3000

508 West Wall, Midland, TX 79701

Key Metrics of DWSN

Snapshot

Latest / TTM · 6 periods

Market Cap

$112.72M

ROCE

17.2%

EV / EBITDA

12.42x

+22.9% YoY

FCF Yield

-3.9%

-18.7% YoY

Cash Conversion Cycle

-7.9d

Current Ratio

0.87

Quick take

TTM —

Current ratio below 1.0

Negative working capital

Financial Highlights of DWSN

Profitability trend

Latest / TTM · 6 periods

Gross Margin

26.6%

Net Margin

3.5%

P/E Ratio

29.73x

n/a

Debt / Equity

1.00

n/a

Current Ratio

0.87

Dividend Yield

0.0%

Understanding

TTM —

Current ratio below 1.0

Calendar of DWSN

Upcoming

Sep 30, 2026In 26 days
Q3 FY2026 · Estimated results
Est. EPS $-0.14 · Revenue $43.20M · 1 analysts
Dec 31, 2026
FY2026 · Estimated annual results
Est. EPS $-1.45 · Revenue $153.55M · 1 analysts
Dec 31, 2027
FY2027 · Estimated annual results
Est. EPS $-0.75 · Revenue $171.00M · 1 analysts
Dec 31, 2028
FY2028 · Estimated annual results
Est. EPS $-0.87 · Revenue $145.00M · 1 analysts

Recent history

Aug 14, 2026
Q2 FY2026 · Results reported
EPS $-0.11 · Revenue $17.91M
View filing
May 15, 2026
Q1 FY2026 · Results reported
EPS $0.25 · Revenue $36.70M
View filing
Mar 31, 2026
FY2025 · Annual results
EPS $-0.06 · Revenue $75.63M
View filing
Nov 13, 2025
Q3 FY2025 · Results reported
EPS $-0.04 · Revenue $22.75M
View filing
Aug 13, 2025
Q2 FY2025 · Results reported
EPS $-0.08 · Revenue $9.85M
View filing
May 14, 2025
Q1 FY2025 · Results reported
EPS $0.03 · Revenue $16.08M
View filing

Financial Statements of DWSN

5Y Trend (Revenue, Earnings, FCF)

Metric	Latest	YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.	QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).	$75.6M	+2.0%	-51.2%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.	$-1.9M	+52.9%	-144.9%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.	+9.7%	+33.5%	+127.0%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).	-2.2%	+64.1%	-170.2%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.	-2.6%	+53.8%	-192.0%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.	$7.1M	+291.5%	+429.0%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.	+9.4%	+287.8%	+774.0%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.	130.7%	+290.9%	+6.2%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.	0.81x	-44.4%	-13.7%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.	$56.0M	+81.4%	-14.1%

Actual vs Estimate

A Dec 31Q Jun 30

Metric	Annual (A vs E)	Annual Surprise	Quarter (A vs E)	Quarter Surprise
EPS Surprise	-0.06 vs -1.45	+95.7%	-0.11 vs -0.13	+15.4%
Revenue Surprise	$75.6M vs $153.6M	-50.7%	$17.9M vs $39.6M	-54.8%

Insider Transactions of DWSN

Acquisitions (A)

Since Aug 18, 2025

Disposals (D)

Since Aug 18, 2025

Monthly shares of acquisitions/disposals with close price trend (shared daily price source)

Insider Trading Snapshot

Date	Executive	Title	Security	Side	Shares	Price
Jun 30, 2026	Mays Ray L	officer: EVP & Chief Operating Officer	Dawson Geophysical Company-Common Stock $0.01 par value	A	150	—
Dec 31, 2025	Wilks Farris	director, 10 percent owner:	Common Stock, par value $0.01 per share	D	15,547,010	$0.01
Oct 27, 2025	Mays Ray L	officer: EVP & Chief Operating Officer	Dawson Geophysical Company-Common Stock $0.01 par value	A	100,000	—
Oct 27, 2025	Clark William Anthony	officer: CEO & President	Dawson Geophysical Company-Common Stock $0.01 par value	A	150,000	—
Sep 9, 2025	Clark William Anthony	officer: CEO & President	Dawson Geophysical Company-Common Stock $0.01 par value	A	550	$1.59

Earnings Call Transcript of DWSN

1 transcript segments

Q4 2025

Unknown Speaker

Operator: Good day, and welcome to the Dawson Geophysical Fourth Quarter 2025 Earnings Conference Call. Statements made by management during this call with respect to forecasts, estimates or other expectations regarding future events or which provide any information other than historical facts may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's current expectations and include known and unknown risks, uncertainties and other factors, many of which the company is unable to predict or control, that may cause the company's actual future results or performance to materially differ from any future results or performance expressed or implied by those statements. Wherever possible, we will try to identify those forward-looking statements by using words such as believe, expect, anticipate, pursue, forecast and similar expressions. These risks and uncertainties include the risk factors disclosed by the company from time to time in its filings with the SEC, including in the company's annual report on Form 10-K, expected to be filed with the SEC on March 31, 2026. Furthermore, as we start this call, please also refer to the statement regarding forward-looking statements incorporated in the company's press release issued yesterday, and please note that the content of the company's conference call this morning is covered by those statements. During this conference call, management will make references to adjusted EBITDA and free cash flow, which are non-GAAP financial measures. A reconciliation of these non-GAAP measures to the most directly comparable GAAP measures can be found in the company's current earnings release, a copy of which is located on the company's website, www.dawson3d.com. The call is scheduled for 30 minutes, and the company will not provide any guidance. Shareholders who might have questions are encouraged to contact the company directly. I would now like to turn the call over to Tony Clark, President and CEO of Dawson Geophysical Company. Please go ahead, sir. Anthony Clark: Thank you, Olivia. Good morning and welcome to Dawson Geophysical's Fourth Quarter 2025 Earnings and Operations Conference Call. As Olivia said, my name is Tony Clark, President and CEO of the company. Joining me on the call is Ian Shaw, Chief Financial Officer. Before I start the call, I have a few items to cover. If you would like to listen to a replay of today's call, it will be available via webcast by going to the Investor Relations section of the company's website at www.dawson3d.com. Information reported on this call speaks only of today, Tuesday, March 31, 2026. And therefore, you are advised that time-sensitive information may no longer be accurate at the time of any replay listening. Turning to a review of our current operations, outlook and fourth quarter year-end December 31, 2025 results. I am proud of the continued progress the …

Leadership Team of DWSN

5 executives

Name	Title	Compensation	Gender	Year Born	Status
Anthony Clark	President & Chief Executive Officer	USD 545,611	Male	1958	Active
Ray L. Mays	Executive Vice President & Chief Operating Officer	USD 504,414	Male	1958	Active
Ian Shaw	Chief Financial Officer	USD 187,935	Male	1984	Active
Idaly Carter	Vice President of Human Resources	—	Female	—	Active
David D. Nobles	Vice President & General Counsel	—	Male	—	Active

Recent News of DWSN

Zacks Investment Research8/24/2026Neutral

DWSN Stock Slides 22% as Q2 Loss Widens Y/Y on Higher Costs

Dawson's Q2 revenues surge 82% y/y, but higher strategic transaction, depreciation and interest costs widen the company's net loss.

PRNewsWire8/13/2026Neutral

DAWSON GEOPHYSICAL REPORTS SECOND QUARTER 2026 RESULTS

MIDLAND, Texas, Aug. 13, 2026 /PRNewswire/ -- Dawson Geophysical Company (NASDAQ: DWSN) (the "Company") today reported unaudited financial results for its second quarter ended June 30, 2026. Second quarter 2026 Highlights Recognized fee revenue of $14 million, a 60% increase over the second quarter of 2025 Net loss of $3.4 million, $0.11 per share, which included $1.7 million of strategic transaction costs Generated Adjusted EBITDA of $0.6 million, an improvement of $1.8 million over the second quarter of 2025 Fourth consecutive quarter of positive Adjusted EBITDA, for the first time since the three months ended September 30, 2018 Year-to-Date 2026 Highlights Increased fee revenue 94% to $46.5 million Net income of $4.2 million, $0.14 per share, which included $2.4 million of strategic transaction costs Generated Adjusted EBITDA of $11.5 million, an 875% increase over the six months ended June 30, 2025 Adjusted EBITDA is a non-GAAP financial measure.

Defense World7/23/2026Neutral

Dawson Geophysical (NASDAQ:DWSN) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Dawson Geophysical Company (NASDAQ: DWSN - Get Free Report)'s share price passed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $3.52 and traded as high as $5.24. Dawson Geophysical shares last traded at $4.88, with a volume of 326,314 shares changing hands.

Zacks Investment Research7/21/2026Neutral

2 Microcap Energy Stocks to Watch That Have Soared More Than 100% YTD

BDCO and DWSN surge 195.7% and 182.1%, respectively, YTD, as refining gains and investments in seismic technology lift profits and expand opportunities.

Zacks Investment Research7/21/2026Neutral

Zacks Initiates Coverage of DWSN With Neutral Recommendation

Discover why Zacks, being the first on Wall Street to initiate the stock coverage, rates Dawson as "Neutral." Explore how DWSN's operational turnaround, fleet modernization and expanding growth opportunities support its outlook.

Historical Employee Count of DWSN

Current

269

Change

+15.45%

Minimum

190

Maximum

281

Recent Filings

Report Date	Employees	Form Type	Filing Date	SEC Filing
Dec 31, 2025	269	10-K	Mar 31, 2026	View
Dec 31, 2024	233	10-K	Apr 2, 2025	View
Dec 31, 2023	281	10-K	Apr 1, 2024	View
Dec 31, 2022	226	10-K	Mar 13, 2023	View
Dec 31, 2021	190	10-K	Mar 18, 2022	View

Related stocksOil & Gas Equipment & Services

Browse all US stocks →

About UsPrivacy PolicyTerms of ServiceDisclaimerStock DirectoryETFsIndices13F HoldingsAnalyst TargetsFree ToolsTechnology MapJoin our Slack

Plutux is not an investment adviser. Market data and AI-generated analysis are for information and education only, not investment advice. Disclaimer

Dawson Geophysical Company