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Patterson-UTI Energy

PTEN Nasdaq Oil & Gas Drilling Financials FY2016–FY2025

Patterson-UTI Energy's revenue fell 10.2% to $4.8 billion in fiscal 2025. Its operating margin was −0.8%, up from −16.5% a year earlier. Free cash flow was $372 million, down 25.1%. It paid out $192 million in dividends and buybacks, 52% of free cash flow. The diluted share count fell 3.5%.

Last close · Oct 23, 2026

$11.97

5.6%
Value it Compare
Revenue Total sales reported in the income statement.
$4.8B
10.3% vs prior year
Operating margin Operating income as a share of revenue.
−0.9%
15.7 pts
Net income Profit after all expenses, interest and tax.
−$93.6M
Free cash flow Cash from operations minus capital spending.
$372M
25.1%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
−0.8%
12.7 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$4.6B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
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What Patterson-UTI Energy does

No business description yet.

Legal name
PATTERSON UTI ENERGY INC
Fiscal year ends
December 31, 2025
Latest annual report
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Accession · CIK
0000889900-26-000013
0000889900

Revenue and margins

Patterson-UTI Energy had $4.8B of revenue in fiscal 2025, down 10.3% 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 $372M in fiscal 2025, 7.7% 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

Patterson-UTI Energy returned $192M to shareholders in fiscal 2025, 52% of free cash flow. The diluted share count fell 3.5%.

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

Value Patterson-UTI Energy 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

—

Adds net cash of −$822M and divides by 383.5M 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 Patterson-UTI Energy can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $118M$138M$190M$239M$419M
Debt incl. finance leases $859M$836M$1.3B$1.3B$1.2B
Debt / equity 0.5x0.5x0.3x0.4x0.4x
Interest coverage −16.2x5.2x6.7x−12.4x−0.6x
Current ratio 1.3x1.5x1.4x1.5x1.6x
Quick ratio 1.2x1.4x1.2x1.3x1.5x
Total assets $3.0B$3.1B$7.4B$5.8B$5.6B
Total liabilities $1.3B$1.5B$2.6B$2.4B$2.3B
Shareholders' equity $1.6B$1.7B$4.8B$3.5B$3.2B
Net debt (− = net cash) $741M$699M$1.1B$1.0B$822M

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

$21.7M

7 insiders

Of sales under plans

14%

$3.0M

DateInsiderTradeSharesPriceValueFiling
Sep 18, 2026 William Andrew Hendricks JRPresident & CEO, Director Sold plan 250,000 $11.91 $3.0M Form 4
Sep 2, 2026 Robert Wayne Drummond JrDirector Sold 198,395 $12.85 $2.5M Form 4
Sep 2, 2026 William Andrew Hendricks JRPresident & CEO, Director Sold 250,000 $12.93 $3.2M Form 4
Sep 1, 2026 Robert Wayne Drummond JrDirector Sold 1,605 $12.85 $0.0M Form 4
Sep 1, 2026 Seth David WexlerEVP, General Counsel&Secretary Sold 120,000 $12.75 $1.5M Form 4
Aug 25, 2026 James Carl StewartDirector Sold 207,000 $11.54 $2.4M Form 4
Jun 8, 2026 Forrest C RobinsonChief Accounting Officer Sold 13,670 $12.01 $0.2M Form 4
Jun 5, 2026 William Andrew Hendricks JRPresident & CEO, Director Sold 200,000 $11.64 $2.3M Form 4
May 28, 2026 James Michael HolcombEVP & Chief Operating Officer Sold 150,000 $11.47 $1.7M Form 4
May 5, 2026 Cesar JaimeDirector Sold 10,000 $12.29 $0.1M Form 4
May 4, 2026 Robert Wayne Drummond JrDirector Sold 61,475 $12.02 $0.7M Form 4
May 1, 2026 Robert Wayne Drummond JrDirector Sold 322,699 $12.04 $3.9M 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 / 84 / 86 / 8
Accruals ratio −14.4%−32.4%−18.5%
Altman Z'' 2.680.451.31

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
Patterson-UTI Energy PTEN $4.6B −10.3% −0.9% 7.7% −0.8% — 6
Transocean RIG $7.7B 12.5% −58.9% 15.8% −12.4% — 6 Compare →
Helmerich & Payne HP $3.9B 35.9% 0.1% 3.1% 0.1% — 4 Compare →
Noble NE $7.6B 7.5% 12.7% 13.2% 5.3% 50.7x 5 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 $916M $2.4B $3.3B $2.5B $1.1B $1.4B $2.6B $4.1B $5.4B $4.8B
Operating income −$456M −$293M −$322M −$462M −$892M −$678M $211M $352M −$890M −$40.8M
Interest expense $40.4M $37.5M $51.6M $75.2M $40.8M $42.0M $40.3M $52.9M $72.0M $70.5M
Pretax income −$496M −$328M −$367M −$530M −$931M −$720M $168M $307M −$957M −$103M
Income tax −$178M −$334M −$46.0M −$105M −$127M −$62.7M $13.2M $61.2M $9.5M −$9.9M
Net income −$319M $5.9M −$321M −$426M −$804M −$655M $155M $246M −$968M −$93.6M
Diluted EPS −$2.18 $0.03 −$1.47 −$2.10 −$4.27 −$3.36 $0.70 $0.88 −$2.44 −$0.24
Diluted shares 0.15B 0.20B 0.22B 0.20B 0.19B 0.20B 0.22B 0.28B 0.40B 0.38B
Cash flow
Cash from operations $305M $301M $731M $696M $279M $95.5M $566M $1.0B $1.2B $961M
Capital expenditure $120M $567M $642M $348M $146M $166M $437M $616M $678M $589M
Free cash flow $185M −$266M $89.2M $349M $133M −$70.8M $129M $390M $497M $372M
Stock-based compensation $28.3M $44.5M $37.9M $39.3M $26.6M $21.6M $21.1M $46.8M $46.4M $39.3M
Acquisitions $0.2M $502M $14.2M $0.0M $0.0M $29.4M $0.0M $65.2M $0.0M $0.0M
Share buybacks $3.6M $6.8M $162M $256M $21.2M $6.3M $70.1M $201M $290M $69.6M
Dividends paid $23.6M $16.3M $30.6M $32.4M $18.9M $15.6M $43.1M $100M $127M $123M
Dividends and buybacks $27.2M $23.1M $192M $288M $40.0M $21.9M $113M $301M $417M $192M
Balance sheet
Cash and short-term investments $35.2M $42.8M $245M $174M $225M $118M $138M $190M $239M $419M
Total debt $600M $868M $1.1B $975M $909M $859M $836M $1.2B $1.2B $1.2B
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $56.9M $25.4M $13.2M
Current assets $247M $747M $950M $632M $478M $584M $829M $1.5B $1.3B $1.4B
Current liabilities $265M $546M $526M $401M $274M $436M $551M $1.1B $842M $864M
Inventory $20.2M $69.2M $65.6M $36.4M $33.1M $42.4M $65.4M $181M $167M $160M
Property and equipment, net $3.4B $4.3B $4.0B $3.3B $2.8B $2.3B $2.3B $3.3B $3.0B $2.7B
Total assets $3.8B $5.8B $5.5B $4.4B $3.3B $3.0B $3.1B $7.4B $5.8B $5.6B
Total liabilities $1.5B $1.8B $2.0B $1.6B $1.3B $1.3B $1.5B $2.6B $2.4B $2.3B
Shareholders' equity $2.2B $4.0B $3.5B $2.8B $2.0B $1.6B $1.7B $4.8B $3.5B $3.2B
Margins
Operating margin −49.8% −12.4% −9.7% −18.7% −79.4% −49.9% 8.0% 8.5% −16.5% −0.9%
Net margin −34.8% 0.3% −9.7% −17.2% −71.5% −48.2% 5.8% 5.9% −18.0% −1.9%
FCF margin 20.2% −11.3% 2.7% 14.1% 11.9% −5.2% 4.9% 9.4% 9.2% 7.7%
Returns
Return on capital −11.8% −6.1% −5.5% −9.1% −22.3% −21.2% 8.3% 6.8% −13.5% −0.8%
Return on capital employed −11.9% −6.7% −6.3% −10.3% −25.3% −24.4% 8.3% 7.9% −15.7% −0.8%
Return on equity −13.3% 0.2% −8.6% −13.4% −33.1% −36.1% 9.4% 7.6% −23.4% −2.8%
Return on assets −7.7% 0.1% −5.7% −8.6% −20.8% −20.9% 5.1% 4.7% −14.6% −1.6%
Growth
Revenue growth −51.6% 157.3% 41.2% −25.7% −54.5% 20.7% 95.1% 56.6% 29.7% −10.3%
Net income growth — — −5,538.6% — — — — 59.3% −493.0% —
EPS growth — — −5,000.0% — — — — 25.7% −377.3% —
FCF growth −27.6% −243.8% — 290.9% −61.8% −153.1% — 201.6% 27.4% −25.1%
Share count change 0.5% 36.7% 9.4% −7.1% −7.4% 3.7% 12.6% 27.6% 41.8% −3.5%
Financial health
Debt / equity 0.3x 0.2x 0.3x 0.3x 0.5x 0.5x 0.5x 0.3x 0.4x 0.4x
Interest coverage −11.3x −7.8x −6.3x −6.1x −21.9x −16.2x 5.2x 6.7x −12.4x −0.6x
Current ratio 0.9x 1.4x 1.8x 1.6x 1.8x 1.3x 1.5x 1.4x 1.5x 1.6x
Quick ratio 0.9x 1.2x 1.7x 1.5x 1.6x 1.2x 1.4x 1.2x 1.3x 1.5x
Capital allocation
Capex / revenue 13.1% 24.1% 19.3% 14.1% 12.9% 12.3% 16.5% 14.9% 12.6% 12.2%
Stock comp / revenue 3.1% 1.9% 1.1% 1.6% 2.4% 1.6% 0.8% 1.1% 0.9% 0.8%
Payouts / FCF 14.7% — 215.6% 82.6% 30.0% — 87.5% 77.1% 83.9% 51.6%
Quality scores
Piotroski F-score 3.0 6.0 3.0 4.0 4.0 3.0 7.0 6.0 4.0 6.0
Altman Z'' 2.5 3.4 3.0 2.5 0.7 −0.2 2.1 2.7 0.5 1.3
Accruals ratio −15.1% −6.2% −18.7% −22.6% −28.0% −24.0% −13.5% −14.4% −32.4% −18.5%

Source: SEC EDGAR XBRL filings (CIK 0000889900). 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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