Helmerich & Payne vs Valaris
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The short version
- Helmerich & Payne is the larger business, with $3.7B of revenue in fiscal 2025 against $2.4B for Valaris, about 1.6 times as much.
- Helmerich & Payne grew revenue faster (35.9%, against 0.3%).
- Valaris kept more of each dollar of sales as operating profit (20.1% operating margin, against 0.1%).
- Valaris turned more of its sales into free cash flow (8.6% FCF margin, against 3.1%).
- Valaris earned a higher return on the capital invested in it (14.4%, against 0.1%).
| Latest fiscal year | HP · FY25 | VAL · FY25 |
|---|---|---|
| Size | ||
| Market cap | $3.9B | $6.9B |
| Revenue | $3.7B | $2.4B |
| Free cash flow | $117M | $203M |
| Net income | −$164M | $983M |
| Growth | ||
| Revenue growth | 35.9% | 0.3% |
| 5-year growth | 16.1% | 2.9% |
| Share count change | 0.2% | −2.7% |
| Profitability | ||
| Gross margin | — | 31.2% |
| Operating margin | 0.1% | 20.1% |
| Net margin | −4.4% | 41.5% |
| FCF margin | 3.1% | 8.6% |
| Return on capital | 0.1% | 14.4% |
| Return on equity | −5.7% | 36.4% |
| Balance sheet | ||
| Net debt | $1.8B | $487M |
| Net debt / EBITDA | 2.9x | 0.8x |
| Dividends and buybacks | $101M | $100M |
| Valuation & quality | ||
| P/E | — | 7.3x |
| Piotroski F-score | 4 | 7 |
Revenue
FY16
HP $1.6B
VAL $2.8B
FY17
HP $1.8B
VAL $1.8B
FY18
HP $2.5B
VAL $1.7B
FY19
HP $2.8B
VAL $2.1B
FY20
HP $1.8B
VAL $1.4B
FY21
HP $1.2B
VAL —
FY22
HP $2.1B
VAL $1.6B
FY23
HP $2.9B
VAL $1.8B
FY24
HP $2.8B
VAL $2.4B
FY25
HP $3.7B
VAL $2.4B
HP
VAL
Operating margin
FY16
HP −1.6%
VAL 33.5%
FY17
HP −9.4%
VAL −7.2%
FY18
HP 1.3%
VAL −13.8%
FY19
HP 0.7%
VAL −32.6%
FY20
HP −35.0%
VAL −303.7%
FY21
HP −35.2%
VAL —
FY22
HP 2.2%
VAL 2.3%
FY23
HP 19.8%
VAL 3.0%
FY24
HP 16.6%
VAL 14.9%
FY25
HP 0.1%
VAL 20.1%
HP
VAL
Free cash flow
FY16
HP $497M
VAL $755M
FY17
HP −$26.4M
VAL −$277M
FY18
HP $91.3M
VAL −$482M
FY19
HP $397M
VAL −$504M
FY20
HP $398M
VAL −$346M
FY21
HP $54.3M
VAL —
FY22
HP −$17.0M
VAL −$80.0M
FY23
HP $438M
VAL −$429M
FY24
HP $190M
VAL −$99.7M
FY25
HP $117M
VAL $203M
HP
VAL
Return on capital
FY16
HP −0.5%
VAL 7.3%
FY17
HP −3.3%
VAL −0.9%
FY18
HP 0.8%
VAL −1.5%
FY19
HP 0.4%
VAL −3.8%
FY20
HP −13.4%
VAL −35.5%
FY21
HP −11.2%
VAL —
FY22
HP 0.8%
VAL —
FY23
HP 14.0%
VAL 3.0%
FY24
HP 9.2%
VAL 13.0%
FY25
HP 0.1%
VAL 14.4%
HP
VAL
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.