Our FRISK® score is drilling deep for our subscribers to unearth the high financial stress lurking within well site service provider Basic Energy Services, Inc. The Fort Worth, Tx. company has been at a lowest-possible FRISK® score of "1" since April 2019:
This High Risk Report chronicles the messy situation that Basic Energy Services is currently in. Even though the company has been faithful in paying its bills on time to this point, the FRISK® score - 96% accurate in predicting public company bankruptcy - is signaling big-time risk. The company has experienced operating and net losses in each of the last five fiscal quarters, for example, along with a steady decline in working capital throughout 2019.
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About High Risk Reports
Our High Risk Reports feature companies that are exhibiting a significantly high level of financial distress, as indicated by our proprietary FRISK® score.
The reports highlight the factors that have pushed a company's score lower on the "1" (worst) to "10" (best) FRISK® score, which is 96% accurate in predicting bankruptcy over a 12-month period. The High Risk Reports also includes analysis on financial indicators such as the company’s DBT index, stock performance, financial ratios and how it is performing relative to its industry peers.
The ultimate goal of the High Risk Report series is two-part: provide an early warning for those doing business with an increasingly distressed company and inform of the many signals that should be examined when assessing financial risks.