HP

MKT CAP:$4B

Helmerich & Payne, Inc.

Market Cap

$4B

Energy·Oil & Gas Drilling·🇺🇸 United States·NYSE

Energy·Oil & Gas Drilling·🇺🇸·NYSE

Stock Price

$37.58+$7.64 (+25.52%)

Apr 23, 2026

Company Details

Helmerich & Payne, Inc., together with its subsidiaries, provides drilling services and solutions for exploration and production companies. The company operates through three segments: North America Solutions, Offshore Gulf of Mexico, and I...

CEO

Raymond John Adams

IPO Date

Oct 15, 1980

Website

www.hpinc.com

Key Metrics TTM

Revenue

$3.1B

+6.3% YoY

Net Income

$158M

EPS (Diluted)

$1.55

Free Cash Flow

$283M

Revenue / Share

$30.88

Gross Margin

20.9%

Operating Margin

10.8%

Net Margin

5.1%

FCF Margin

9.2%

P/S

1.2x

P/E

24.1x

Earnings Reports

Q1 2026

May 6, 2026

PENDING

Q4 2025

Nov 21, 2025

$1.0B+45.8%EPS -$0.58

Q1 2025

Feb 5, 2025

$677M+0.0%EPS $0.54

FY 2024

Nov 13, 2024

$2.8B-4.0%EPS $3.43

Q4 2024

Nov 13, 2024

$694MEPS $0.75

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 16	$366M	$42M	-$13M
Q4 16	$332M	-$59M	-$93M
Q1 18	$564M	$48M	$4M
Q3 19	$688M	$100M	-$168M
Q2 20	$634M	$86M	$38M
Q3 20	$317M	$4M	-$43M
Q4 21	$344M	-$17M	-$74M
Q1 23	$720M	$194M	$138M
Q2 23	$769M	$224M	$175M
Q3 23	$724M	$200M	$149M
Q1 24	$677M	$180M	$123M
Q2 24	$688M	$182M	$111M
Q4 24	$694M	$185M	$107M
Q1 25	$677M	$166M	$90M
Q4 25	$1.0B	$108M	$23M

Valuation

Quarter	P/S	P/E
Q3 16	—	—
Q4 16	—	—
Q1 18	—	—
Q3 19	2.0x	15.1x
Q2 20	1.7x	—
Q3 20	1.7x	—
Q4 21	1.9x	—
Q1 23	1.9x	—
Q2 23	1.8x	28.3x
Q3 23	1.5x	13.8x
Q1 24	1.3x	8.4x
Q2 24	1.3x	8.7x
Q4 24	1.4x	10.9x
Q1 25	1.4x	12.3x
Q4 25	1.2x	24.1x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 16	$123M	$84M
Q4 16	$138M	$101M
Q1 18	$72M	-$19M
Q3 19	$250M	$177M
Q2 20	$121M	$73M
Q3 20	$214M	$187M
Q4 21	$47M	$14M
Q1 23	$185M	$89M
Q2 23	$141M	$55M
Q3 23	$293M	$192M
Q1 24	$175M	$38M
Q2 24	$144M	$25M
Q4 24	$169M	$63M
Q1 25	$158M	$52M
Q4 25	$207M	$143M

Capital Expenditures

Quarter	CapEx
Q3 16	$39M
Q4 16	$38M
Q1 18	$92M
Q3 19	$74M
Q2 20	$48M
Q3 20	$27M
Q4 21	$33M
Q1 23	$96M
Q2 23	$85M
Q3 23	$100M
Q1 24	$136M
Q2 24	$118M
Q4 24	$106M
Q1 25	$106M
Q4 25	$64M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 20	+72.9%	+56.8%
Q3 20	-4.3%	-15.2%
Q4 21	-39.1%	-25.4%
Q1 23	+4.6%	-32.1%
Q2 23	+21.4%	-0.2%
Q3 23	+128.1%	+59.8%
Q1 24	+97.0%	+32.5%
Q2 24	-4.4%	-0.8%
Q4 24	-9.8%	-1.1%
Q1 25	-6.4%	+2.1%
Q4 25	+49.4%	+78.6%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 16	$6M	1.5%
Q4 16	$5M	1.4%
Q1 18	$7M	1.3%
Q3 19	$9M	1.3%
Q2 20	$11M	1.7%
Q3 20	$11M	3.5%
Q4 21	$0	0.0%
Q1 23	$8M	1.1%
Q2 23	$7M	1.0%
Q3 23	$8M	1.1%
Q1 24	$8M	1.1%
Q2 24	$8M	1.2%
Q4 24	$7M	1.1%
Q1 25	$7M	1.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	SG&A
Q3 16	$3M	$46M	—
Q4 16	$2M	$34M	—
Q1 18	$3M	$47M	—
Q3 19	$7M	$47M	—
Q2 20	$6M	—	$42M
Q3 20	$4M	—	$43M
Q4 21	$5M	—	$52M
Q1 23	$7M	—	$48M
Q2 23	$9M	—	$53M
Q3 23	$7M	—	$49M
Q1 24	$9M	—	$57M
Q2 24	$13M	—	$61M
Q4 24	$9M	—	$59M
Q1 25	$9M	—	$63M
Q4 25	$8M	—	$78M

Revenue Segments

Quarter	All Other Segments	International Land	Offshore	U S Land	Contract Drilling	Service, Other	International Solutions Segment	North America Solutions	Offshore Gulfof Mexico	Other Segments
Q3 16	$3M	$48M	$30M	$285M	—	—	—	—	—	—
Q4 16	$3M	$58M	$32M	$238M	—	—	—	—	—	—
Q1 18	$6M	$63M	$33M	$462M	—	—	—	—	—	—
Q3 19	—	—	—	—	$685M	$3M	—	—	—	—
Q4 21	—	—	—	—	—	—	$17M	$293M	$31M	$12M
Q1 23	—	—	—	—	—	—	$55M	$627M	$35M	$19M
Q2 23	—	—	—	—	—	—	$56M	$676M	$35M	$20M
Q3 23	—	—	—	—	—	—	$49M	$642M	$31M	$20M
Q1 24	—	—	—	—	—	—	$55M	$594M	$26M	$18M
Q2 24	—	—	—	—	—	—	$26M	$613M	$46M	$19M
Q4 24	—	—	—	—	—	—	$86M	$618M	—	$18M
Q1 25	—	—	—	—	—	—	$47M	$598M	$29M	$19M

Revenue by Geography

Quarter	Argentina	Colombia	Other Foreign	United States	United Arab Emirates	Australia	Saudi Arabia	Azerbaijan	Germany	Kuwait	Norway	Oman
Q3 19	$41M	$3M	$2M	$641M	—	—	—	—	—	—	—	—
Q2 20	$30M	$5M	$869.0K	$582M	$6M	—	—	—	—	—	—	—
Q3 20	$7M	$413.0K	$552.0K	$294M	$8M	—	—	—	—	—	—	—
Q4 21	$11M	—	$817.0K	$326M	—	—	—	—	—	—	—	—
Q1 23	$34M	$16M	$655.0K	$664M	$2M	—	—	—	—	—	—	—
Q2 23	$35M	$14M	$1M	$712M	$3M	—	—	—	—	—	—	—
Q3 23	$32M	$9M	$618.0K	$675M	$2M	—	—	—	—	—	—	—
Q1 24	$36M	$8M	$777.0K	$622M	$2M	$4M	—	—	—	—	—	—
Q2 24	$34M	$1M	$1M	$641M	$3M	$3M	—	—	—	—	—	—
Q4 24	$34M	$278.0K	$641.0K	$648M	$2M	$4M	—	—	—	—	—	—
Q1 25	$35M	—	$1M	$629M	—	$5M	$3M	—	—	—	—	—
Q4 25	$36M	$15M	$83M	$605M	—	—	$60M	$47M	$24M	$11M	$59M	$65M

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$202M	$148M	$351M
Q3 22	$189M	$144M	$333M
Q4 22	$268M	$117M	$385M
Q1 23	$229M	$118M	$348M
Q2 23	$160M	$85M	$245M
Q3 23	$221M	$73M	$293M
Q4 23	$257M	$94M	$351M
Q1 24	$214M	$84M	$298M
Q2 24	$194M	$83M	$277M
Q3 24	$204M	$86M	$290M
Q4 24	$217M	$293M	$510M
Q1 25	$391M	$135M	$526M
Q2 25	$175M	$21M	$196M
Q3 25	$166M	$21M	$187M
Q4 25	$224M	$21M	$246M
Q1 26	$247M	$22M	$269M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 16	108M	—	—
Q4 16	108M	+0.0%	—
Q1 18	109M	+0.9%	—
Q3 19	109M	+0.3%	—
Q2 20	109M	-0.8%	+0.5%
Q3 20	107M	-1.0%	-0.6%
Q4 21	108M	+0.4%	-1.1%
Q1 23	106M	-1.7%	-3.0%
Q2 23	104M	-1.6%	-3.9%
Q3 23	102M	-2.7%	-5.5%
Q1 24	100M	-1.9%	-7.7%
Q2 24	99M	-0.6%	-6.7%
Q4 24	99M	-0.1%	-5.1%
Q1 25	99M	+0.2%	-2.4%
Q4 25	99M	+0.3%	-0.2%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 16	$54.2K	7K
Q4 16	$68.5K	5K
Q1 18	$69.4K	8K
Q3 19	$70.4K	10K
Q2 20	$74.5K	9K
Q3 20	$37.3K	9K
Q4 21	$58.0K	6K
Q1 23	$90.0K	8K
Q2 23	$96.2K	8K
Q3 23	$90.5K	8K
Q1 24	$95.4K	7K
Q2 24	$96.9K	7K
Q4 24	$99.1K	7K
Q1 25	$96.8K	7K
Q4 25	$163.2K	6K

Revenue / Employee