ROWAN COMPANIES PLC

CIK 0000085408

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Filings

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Analytical signals

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Calculations over this company’s filings, each compared with a stated threshold. They indicate where to read more closely; they are analytical evidence, not conclusions, and none implies wrongdoing.

Pension funding

P-07 · Calculated

Threshold met

FY 2018-12-31

The funded ratio of defined-benefit plans against shareholder equity.

DB plan 69% funded — -$239M deficit (5% of equity)

Trend: flat

P-07 inputs
Input	Value
model score (0–100)	66.5
benefit_obligation	774700000
plan_assets	535500000
funded_ratio	0.6912
deficit	-239200000
deficit_vs_equity	0.0475
thresholds.elevated	<90% funded
thresholds.triggered	<80% funded or deficit >25% of equity
stale	false
latest_filing_period	2018-12-31

Trend

10-K· 2019-02-27 Methodology

Interest coverage

P-13 · Calculated

Elevated

FY 2018-12-31

Whether operating earnings cover interest expense, and for how many consecutive years they did not.

EBIT is negative: operating earnings do not cover interest expense

Trend: flat

P-13 inputs
Input	Value
model score (0–100)	70.0
icr_by_year.2018-12-31	-1.841
icr_by_year.2017-12-31	1.531
icr_by_year.2016-12-31	3.323
icr_by_year.2015-12-31	2.114
consecutive_years_below_1	1
altman_z_double_prime	3.889
definitions.zombie	ICR<1 for 3+ consecutive FYs (BIS 2018)
definitions.z_distress	<1.1 distress, 1.1-2.6 gray, >2.6 safe
inputs.ebit_t	-287800000
inputs.interest_expense_t	156300000
stale	false
latest_filing_period	2018-12-31

Trend

10-K· 2019-02-27 Methodology

Effective tax rate

P-05 · Calculated

Below threshold

FY 2017-12-31

ETR 26.8% — within normal range of statutory

Trend: flat

The gap between the effective and the statutory tax rate, and whether it persists across three years.

P-05 inputs
Input	Value
model score (0–100)	37.4
etr_by_year.2017-12-31	0.2679
etr_by_year.2016-12-31	0.0154
statutory_rate	0.21
gap_by_year.2017-12-31	-0.0579
gap_by_year.2016-12-31	0.1946
note	Low ETR can be fully legitimate; this flags persistence + magnitude for review.
stale	false
latest_filing_period	2018-12-31

Trend

10-K· 2018-02-28 Methodology

Restatement indicators

P-12 · Calculated

Below threshold

FY 2018-12-31

F-Score 0.13 is at or below the 1.0 reference level

Trend: flat

How closely reported accruals and financing patterns resemble those of companies that later restated.

P-12 inputs
Input	Value
model score (0–100)	4.4
f_score	0.131
probability	0.00048
components.rsst	-0.0226
components.drec	0.0043
components.dinv	null
components.soft	0.1096
components.dcs	null
components.droa	-0.0514
components.issue	0
model	Dechow et al. 2011, Model 1 (simplified RSST)
thresholds.elevated	1
thresholds.triggered	1.85
stale	false
latest_filing_period	2018-12-31

Trend

10-K· 2019-02-27 Methodology

No stored result for Earnings quality, Subsidiary jurisdictions, ESG disclosure support, Insider filing timing, Language change, Strategic-review language, Carbon-exposed assets. Some signals are computed on request, and others need inputs this company’s filings do not tag; a missing result is not a finding either way.

Methodology and sources

Financial figures come from SEC XBRL company facts (annual reports). Choose any evidence marker to see the filing behind a value.
Filing text comes from SEC EDGAR. Browse this company on EDGAR ↗
Signals are calculated by Stratum from those filings. Some use AI to read filing text, and every AI claim must quote the document verbatim or it is discarded. Full methodology

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