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Helmerich & Payne

HP NYSE Oil & Gas Drilling Financials FY2016–FY2025

Helmerich & Payne's revenue rose 35.9% to $3.7 billion in fiscal 2025. Its operating margin was 0.1%, down from 16.6% a year earlier. Free cash flow was $117 million, down 38.5%. It paid out $101 million in dividends and buybacks, 86% of free cash flow. The diluted share count rose 0.2%.

Last close · Oct 23, 2026

$38.95

4.9%
Value it Compare
Revenue Total sales reported in the income statement.
$3.7B
35.9% vs prior year
Operating margin Operating income as a share of revenue.
0.1%
16.5 pts
Net income Profit after all expenses, interest and tax.
−$164M
147.6%
Free cash flow Cash from operations minus capital spending.
$117M
38.5%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
0.1%
9.1 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$3.9B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
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What Helmerich & Payne does

No business description yet.

Legal name
HELMERICH & PAYNE, INC.
Fiscal year ends
September 30, 2025
Latest annual report
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Accession · CIK
0000046765-25-000071
0000046765

Revenue and margins

Helmerich & Payne had $3.7B of revenue in fiscal 2025, up 35.9% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $117M in fiscal 2025, 3.1% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Helmerich & Payne returned $101M to shareholders in fiscal 2025, 86% of free cash flow. The diluted share count rose 0.2%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Helmerich & Payne yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

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Adds net cash of −$1.8B and divides by 99.3M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Balance sheet

Cash, debt and the ratios that show how comfortably Helmerich & Payne can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $1.1B$349M$351M$510M$218M
Debt incl. finance leases $1.0B$543M$545M$1.8B$2.1B
Net debt / EBITDA —0.4x0.2x1.5x2.9x
Debt / equity 0.4x0.2x0.2x0.6x0.7x
Interest coverage −17.9x2.4x32.9x15.7x0.0x
Current ratio 1.8x2.5x2.4x2.7x1.8x
Quick ratio 1.7x2.3x2.2x2.4x1.4x
Total assets $5.0B$4.4B$4.4B$5.8B$6.7B
Total liabilities $2.1B$1.6B$1.6B$2.9B$3.9B
Shareholders' equity $2.9B$2.8B$2.8B$2.9B$2.8B
Net debt (− = net cash) −$74.5M$193M$194M$1.3B$1.8B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$11.3M

4 insiders

Of sales under plans

7%

$0.8M

DateInsiderTradeSharesPriceValueFiling
Sep 1, 2026 Michael LennoxEVP, Western Hemisphere Land Sold plan 10,000 $45.00 $0.5M Form 4
Aug 20, 2026 Hans HelmerichDirector Sold 94,470 $43.90 $4.1M Form 4
Aug 17, 2026 Cara M. HairSVP, Corp. Services & CLO Sold 11,149 $44.27 $0.5M Form 4
Aug 14, 2026 Sara Marie MomperVP, CAO Sold 5,054 $44.28 $0.2M Form 4
Aug 10, 2026 Michael LennoxEVP, Western Hemisphere Land Sold plan 5,000 $40.00 $0.2M Form 4
Jul 22, 2026 Michael LennoxEVP, Western Hemisphere Land Sold plan 5,000 $35.00 $0.2M Form 4
May 18, 2026 Cara M. HairSVP, Corp. Services & CLO Sold 28,345 $41.45 $1.2M Form 4
Mar 19, 2026 Cara M. HairSVP, Corp. Services & CLO Sold 58,771 $36.62 $2.2M Form 4
Dec 19, 2025 Hans HelmerichDirector Sold 75,000 $28.12 $2.1M Form 4
Dec 3, 2025 Sara Marie MomperVP, CAO Sold 6,681 $30.23 $0.2M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✕
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✓ ✕ ✕
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✕ ✕ ✓
Current ratio rose ✕ ✓ ✕
Share count didn't rise ✓ ✓ ✕
Gross margin rose — — —
Revenue rose relative to assets ✓ ✕ ✓
F-score 6 / 85 / 84 / 8
Accruals ratio −9.2%−6.7%−11.3%
Altman Z'' 5.574.072.68

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Helmerich & Payne HP $3.9B 35.9% 0.1% 3.1% 0.1% — 4
Transocean RIG $7.7B 12.5% −58.9% 15.8% −12.4% — 6 Compare →
Noble NE $7.6B 7.5% 12.7% 13.2% 5.3% 50.7x 5 Compare →
Patterson-UTI Energy PTEN $4.6B −10.3% −0.9% 7.7% −0.8% — 6 Compare →
Valaris VAL $6.9B 0.3% 20.1% 8.6% 14.4% 7.3x 7 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $1.6B $1.8B $2.5B $2.8B $1.8B $1.2B $2.1B $2.9B $2.8B $3.7B
Research and development $10.3M $12.0M $18.2M $27.5M $21.6M $21.7M $26.6M $30.1M $41.0M $34.1M
Operating income −$26.0M −$169M $33.0M $20.6M −$620M −$429M $45.3M $568M $457M $3.3M
Interest expense $22.9M $19.7M $24.3M $25.2M $24.5M $24.0M $19.2M $17.3M $29.1M $108M
Pretax income −$72.7M −$185M $15.8M −$51.2M −$637M −$430M $31.3M $593M $481M −$74.1M
Income tax −$19.7M −$56.7M −$477M −$18.7M −$140M −$104M $24.4M $159M $137M $85.8M
Net income −$56.8M −$128M $483M −$33.7M −$495M −$326M $7.0M $434M $344M −$164M
Diluted EPS −$0.54 −$1.20 $4.37 −$0.34 −$4.60 −$3.04 $0.05 $4.16 $3.43 −$1.66
Diluted shares 0.11B 0.11B 0.11B 0.11B 0.11B 0.11B 0.11B 0.10B 0.10B 0.10B
Cash flow
Cash from operations $755M $371M $558M $856M $539M $136M $234M $834M $685M $543M
Capital expenditure $257M $398M $467M $458M $141M $82.1M $251M $396M $495M $426M
Free cash flow $497M −$26.4M $91.3M $397M $398M $54.3M −$17.0M $438M $190M $117M
Depreciation and amortization $599M $586M $584M $563M $482M $420M $403M $382M $397M $625M
Stock-based compensation $24.4M $26.2M $31.7M $34.3M $36.3M $27.9M $28.0M $32.5M $31.2M $31.6M
Acquisitions $0.0M $70.4M $47.9M $16.2M $0.0M $0.0M $0.0M $0.0M $0.0M $1.8B
Share buybacks $0.0M $0.0M $0.0M $42.8M $28.5M $0.0M $77.0M $247M $51.3M $0.0M
Dividends paid $300M $306M $308M $313M $260M $109M $107M $202M $169M $101M
Dividends and buybacks $300M $306M $308M $356M $289M $109M $184M $449M $220M $101M
Balance sheet
Cash and short-term investments $950M $566M $326M $401M $577M $1.1B $349M $351M $510M $218M
Total debt $492M $493M $494M $479M $481M $1.0B $543M $545M $1.8B $2.1B
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Current assets $1.6B $1.2B $1.1B $1.1B $963M $1.6B $1.0B $1.0B $1.2B $1.5B
Current liabilities $330M $344M $377M $410M $219M $866M $395M $419M $447M $815M
Inventory $124M $137M $158M $150M $104M $84.1M $88.0M $94.2M $118M $324M
Property and equipment, net $5.1B $5.0B $4.9B $4.5B $3.6B $3.1B $3.0B $2.9B $3.0B $4.3B
Total assets $6.8B $6.4B $6.2B $5.8B $4.8B $5.0B $4.4B $4.4B $5.8B $6.7B
Total liabilities $2.3B $2.3B $1.8B $1.8B $1.5B $2.1B $1.6B $1.6B $2.9B $3.9B
Shareholders' equity $4.6B $4.2B $4.4B $4.0B $3.3B $2.9B $2.8B $2.8B $2.9B $2.8B
Margins
Operating margin −1.6% −9.4% 1.3% 0.7% −35.0% −35.2% 2.2% 19.8% 16.6% 0.1%
EBITDA margin 35.3% 23.1% 24.8% 20.9% −7.8% −0.7% 21.8% 33.1% 31.0% 16.8%
Net margin −3.5% −7.1% 19.4% −1.2% −27.9% −26.8% 0.3% 15.1% 12.5% −4.4%
FCF margin 30.6% −1.5% 3.7% 14.2% 22.4% 4.5% −0.8% 15.3% 6.9% 3.1%
Returns
Return on capital −0.5% −3.3% 0.8% 0.4% −13.4% −11.2% 0.8% 14.0% 9.2% 0.1%
Return on capital employed −0.4% −2.7% 0.6% 0.4% −12.4% −9.8% 1.1% 14.3% 9.8% 0.1%
Return on equity −1.2% −2.9% 11.3% −0.8% −13.5% −10.5% 0.2% 15.7% 12.1% −5.7%
Return on assets −0.8% −1.9% 7.6% −0.6% −9.3% −6.6% 0.2% 9.9% 6.8% −2.6%
Growth
Revenue growth −48.6% 11.1% 37.8% 12.5% −36.6% −31.3% 69.0% 39.5% −4.0% 35.9%
Net income growth −113.5% — — −107.0% — — — 6,143.4% −20.7% −147.6%
EPS growth −114.0% — — −107.8% — — — 8,220.0% −17.6% −148.4%
FCF growth 67.4% −105.3% — 335.4% 0.2% −86.4% −131.3% — −56.7% −38.5%
Share count change −0.5% 0.5% 0.8% −0.2% −1.1% −0.2% −1.2% −3.5% −3.7% 0.2%
Financial health
Net debt / EBITDA −0.8x −0.2x 0.3x 0.1x — — 0.4x 0.2x 1.5x 2.9x
Debt / equity 0.1x 0.1x 0.1x 0.1x 0.1x 0.4x 0.2x 0.2x 0.6x 0.7x
Interest coverage −1.1x −8.6x 1.4x 0.8x −25.3x −17.9x 2.4x 32.9x 15.7x 0.0x
Current ratio 4.8x 3.6x 3.0x 2.7x 4.4x 1.8x 2.5x 2.4x 2.7x 1.8x
Quick ratio 4.4x 3.2x 2.5x 2.4x 3.9x 1.7x 2.3x 2.2x 2.4x 1.4x
Capital allocation
Capex / revenue 15.8% 22.0% 18.8% 16.4% 7.9% 6.7% 12.2% 13.8% 18.0% 11.4%
Stock comp / revenue 1.5% 1.5% 1.3% 1.2% 2.1% 2.3% 1.4% 1.1% 1.1% 0.8%
Payouts / FCF 60.4% — 337.9% 89.6% 72.6% 201.0% — 102.4% 115.9% 86.4%
Quality scores
Piotroski F-score 5.0 3.0 5.0 4.0 4.0 4.0 8.0 6.0 5.0 4.0
Altman Z'' 5.3 4.6 5.4 5.2 4.5 3.5 4.7 5.6 4.1 2.7
Accruals ratio −11.6% −7.5% −1.2% −14.8% −19.4% −9.4% −4.8% −9.2% −6.7% −11.3%

Source: SEC EDGAR XBRL filings (CIK 0000046765). Data updated October 21, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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