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Helmerich & Payne, Inc.

HP Energy Oil & Gas Drilling

Helmerich & Payne, Inc.’s revenue for fiscal 2025 (year ended September 2025) was $3.7 billion, up 35.9% from fiscal 2024.

Revenue
−0.58%
EPS
+145.1%
Free cash flow
+574.7%
Total debt
−15.0%

Quarter to June 2026, against a year earlier

34.90 1.21 −3.35%
Market cap
$3.5B
P/E
0.0×
Fwd P/E
−76.5×
Dividend yield
2.87%
F-score
4/9
Altman Z
1.56
Beneish M
−2.37
Dividend safety
16/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 11.33
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell 2 — — 1 — 1 — 1 4 1 — —
Insider Ownership 4.29%

Capital & Financial Ratios $m

Size
Market Cap 3,470.00
Revenue ttm 3,995.99
Net income ttm (128.44)
Free cash flow ttm 489.61
Net debt Q 1,597.18
Valuation
P/E 0.00
Forward P/E (76.50) (negative: loss-making)
Price / sales 0.87
Forward P/S Powerpack
Price / FCF 7.12
Price / book 1.31
Financial health
Current ratio Q 1.96 (at or above 1.5: strong)
Debt / equity Q 0.70
Interest coverage Q 7.70
Growth
Revenue growth Q −0.58% (below 0%: shrinking)
Operating income growth Q +246.73% (above 0%: growing)
EPS, this year −141.83% (below 0%: weak)
EPS, next year A +479.87% (at or above 15%: strong)
Revenue, next year A +8.38%
EPS, past 5 yrs —
EPS, next 5 yrs A +31.60% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.3×, against a ten-year median of 2.0×; over the ten years it ranged from 0.7× in 2020 to 4.9× in 2017.
P/S against its own 10 years 13.75%
10-year low 10-year high
P/B against its own 10 years 47.85%
10-year low 10-year high
EV/Sales against its own 10 years 16.46%
10-year low 10-year high
EV/FCF against its own 10 years 27.06%
10-year low 10-year high

Dividends

Yield
2.87%
Annual rate
1.00
Payout ratio
—
Growth, 2018–26
−12.2%/yr
  1. 2.82 ’18
  2. 2.84 ’19 +1
  3. 1.92 ’20 −32
  4. 1.00 ’21 −48
  5. 0.75 ’22 −25
  6. 0.50 ’23 −33
  7. 0.75 ’24 +50
  8. 1.00 ’25 +33
  9. 1.00 ’26 +0
paid change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 410 579 246 265
Receivables 404 419 783 869
Inventory 94 118 324 326
Other 1 — 15 13
1,007 1,192 1,465 1,570
2023 2024 2025 Q'26
Payables 131 135 218 207
ST’ Debt 14 — 7 7
Other — — — —
419 447 815 800

Compound Annual Growth %

10y 5y 3y
Sales 1.71% 16.13% 22.08%
Cash Flow (9.22%) 0.15% 32.40%
Earnings 0.00% 0.00% 0.00%
Book Value (5.34%) (3.14%) 0.76%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.11 Actual −0.11

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.26 −0.01 Miss by 0.27
Q1 FY26 0.12 −0.15 Miss by 0.27
Q2 FY26 −0.06 −0.38 Miss by 0.32
Q3 FY26 0.11 −0.11 Miss by 0.22
Q4 FY26 0.26 — Reports 18 November 2026

EPS $

Dec Mar Jun Sep Year
’26 (0.98) (0.59) 0.74 — —
’25 0.54 0.01 (1.64) (0.58) (1.66)
’24 0.94 0.86 0.88 0.76 3.43
’23 0.91 1.55 0.93 0.77 4.16
’22 (0.48) (0.05) 0.16 0.42 0.05
’21 (0.66) (1.13) (0.52) (0.74) (3.04)
’20 0.27 (3.88) (0.43) (0.55) (4.60)
Fiscal quarters ending in the months shown.

Revenue $m

Dec Mar Jun Sep Year
’26 1,017 932 1,035 — —
’25 677 1,016 1,041 1,012 3,746
’24 677 688 698 694 2,757
’23 720 769 724 660 2,872
’22 410 468 550 631 2,059
’21 246 296 332 344 1,219
’20 615 634 317 208 1,774
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Dec Mar Jun Sep Year
’26 182 37 154 — —
’25 158 56 122 207 543
’24 175 144 197 169 685
’23 185 141 293 215 834
’22 (4) 23 98 117 234
’21 (20) 78 31 47 136
’20 112 121 214 93 539
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Dec Mar Jun Sep Year
’26 126 (15) 226 — —
’25 64 (89) 33 154 162
’24 50 34 77 74 236
’23 120 72 208 108 508
’22 (30) (31) 35 50 24
’21 (27) 68 26 117 184
’20 78 85 193 120 476
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.7
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to September

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 1,624 1,805 2,487 2,798 1,774 1,219 2,059 2,872 2,757 3,746 3,996 +9.7% 4,060 4,292 4,494 +6.3%
Gross margin, % 44.66 30.78 33.56 35.37 32.89 21.40 30.49 40.36 40.90 31.46 28.82 (13.2) pt
EBT (73) (185) 16 (51) (636) (430) 31 593 481 (74) (42) +0.2%
EBT margin, % (4.47) (10.23) 0.64 (1.83) (35.88) (35.28) 1.52 20.66 17.45 (1.98) (1.05) +2.5 pt
Net income (57) (128) 483 (34) (494) (326) 7 434 344 (160) (128) +12.2%
Per share, $
Per share, $ Revenue 15.04 16.63 22.85 25.62 16.42 11.30 19.44 28.04 27.88 37.73 39.99 +10.8%
Earnings (0.54) (1.20) 4.39 (0.34) (4.60) (3.04) 0.05 4.18 3.43 (1.66) (1.41) +13.3%
Cash flow 6.99 3.42 5.12 7.84 4.99 1.27 2.21 8.14 6.93 5.47 5.80 (2.7%)
Capex (2.18) (3.45) (3.88) (3.73) (0.58) 0.44 (1.99) (3.18) (4.54) (3.83) (0.90) +6.5%
Free cash flow 4.81 (0.03) 1.25 4.10 4.41 1.71 0.22 4.96 2.39 1.64 4.90 (11.3%)
Book value 42.23 38.38 40.26 36.74 30.72 27.01 26.12 27.06 29.51 28.50 26.72 (4.3%)
Shares, m 108 109 109 109 108 108 106 102 99 99 100 (0.9%)
Valuation, ×
Valuation, × P/E 0.00 0.00 15.96 0.00 0.00 0.00 739.40 9.65 8.82 0.00 0.00 77.4
P/S 4.47 3.08 3.07 1.56 0.89 2.43 1.90 1.44 1.09 0.59 0.87 2.1
P/B 1.59 1.34 1.74 1.09 0.48 1.01 1.42 1.49 1.03 0.78 1.31 1.2
EV/Sales 4.22 3.06 3.15 1.61 0.84 2.34 1.98 1.49 1.53 1.07 1.27 2.1
EV/FCF 13.19 (1,870.09) 57.76 10.03 3.14 15.44 172.48 8.43 17.90 24.71 10.39 (154.7)
Cash, $m
Cash, $m Operating cash flow 755 371 558 856 539 136 234 834 685 543 580 (3.6%)
Capex (235) (374) (422) (408) (62) 48 (210) (325) (449) (381) (90) +5.5%
Free cash flow 519 (3) 136 448 476 184 24 508 236 162 490 (12.1%)
Balance, $m
Balance, $m Working capital 1,243 891 738 705 744 720 608 588 745 651 770 (6.9%)
Net debt (458) (73) 168 78 (85) (109) 169 149 1,203 1,818 1,597 n/m
Shareholders’ equity 4,561 4,165 4,383 4,012 3,319 2,913 2,765 2,772 2,917 2,829 2,670 (5.2%)
Returns, %
Returns, % ROA (0.81) (1.93) 7.63 (0.56) (9.27) (6.61) 0.12 9.94 6.77 (2.62) (2.08) (1.8) pt
ROIC (0.40) (2.58) 0.45 0.31 (11.99) (9.55) 0.96 12.16 6.94 0.04 1.32 +0.4 pt
ROE (1.20) (2.94) 11.29 (0.80) (13.49) (10.47) 0.19 15.68 12.10 (5.70) (4.95) (4.5) pt
People
People Employees 4,840 8,123 9,777 8,510 4,138 5,444 7,000 6,200 6,200 6,200 — +2.8%
Revenue/emp, $m 0.34 0.22 0.25 0.33 0.43 0.22 0.29 0.46 0.44 0.60 — +6.8%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Sep 2025 · latest quarter Jun 2026

Helmerich & Payne, Inc. vs peers in Oil & Gas Drilling (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
NE Noble Corporation PLC $6.4B 116× — (loss-making) −8.68% (below 0%: shrinking) n/m −116.84% (below 0%: shrinking) 35.71% 8.24% Compare
RIG Transocean Ltd. $5.7B 20.3× 22.1× −8.85% (below 0%: shrinking) n/m −49.44% (below 0%: shrinking) 100.00% 15.26% Compare
VAL Valaris Limited $5.4B 6.8× 30.5× −0.35% (below 0%: shrinking) −74.70% (below 0%: shrinking) −105.11% (below 0%: shrinking) 29.70% 13.70% Compare
PTEN Patterson-UTI Energy, Inc. $3.8B — (loss-making) — (loss-making) +14.14% (above 0%: growing) n/m +169.62% (above 0%: growing) 25.09% 4.71% Compare
HP Helmerich & Payne, Inc. $3.5B — (loss-making) — (loss-making) −0.58% (below 0%: shrinking) n/m +574.70% (above 0%: growing) 29.52% 18.19%
SDRL Seadrill Limited $2.6B — (loss-making) 119× +17.91% (above 0%: growing) n/m +2,066.67% (above 0%: growing) 0.00% 10.28% Compare
NBR Nabors Industries Ltd. $1.1B — (loss-making) — (loss-making) +6.16% (above 0%: growing) −93.96% (below 0%: shrinking) +135.53% (above 0%: growing) 38.77% 8.96% Compare
BORR Borr Drilling Limited $962.6M — (loss-making) — (loss-making) −13.22% (below 0%: shrinking) n/m −323.94% (below 0%: shrinking) 24.62% 0.13% Compare
SOC Sable Offshore Corp. $349.2M — (loss-making) — — n/m +90.17% (above 0%: growing) 100.00% (48.78%) Compare
Median of peers $3.2B 20.3× 30.5× −0.35% — +20.36% 32.70% 8.60%

All 9 Oil & Gas Drilling stocks →

Pay and ownership Proxy statement filed 22 January 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 9.01m 5.29m 186.00
2024 9.34m 4.72m 245.00
2023 8.60m 8.41m 324.00
2022 8.00m 15.45m 271.00
2021 8.47m 11.86m 195.00

Ownership

Directors and executive officers, together 4.40% of Common Stock
BlackRock, Inc. 14.10% of Common Stock
The Vanguard Group, Inc. 11.50% of Common Stock
State Farm Mutual Automobile Insurance Company One State Farm Plaza Bloomington, IL 8.10% of Common Stock
Dimensional Fund Advisors LP Bee Cave Road, Building One Austin, TX 5.10% of Common Stock
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Helmerich & Payne, Inc. (HP) Latest News

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HP metrics, ten years each

stockrow.com/HP · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com