PTEN

MKT CAP:$4B

Patterson-UTI Energy, Inc.

Market Cap

$4B

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

Energy·Oil & Gas Drilling·🇺🇸·NASDAQ

Stock Price

$10.81+$4.34 (+67.08%)

Apr 22, 2026

Company Details

Patterson-UTI Energy, Inc., through its subsidiaries, provides onshore contract drilling services to oil and natural gas operators in the United States and internationally. It operates through three segments: Contract Drilling Services, Pre...

CEO

William Andrew Hendricks Jr.

IPO Date

Nov 2, 1993

Website

www.patenergy.com

Key Metrics TTM

Revenue

$4.7B

-10.5% YoY

Net Income

-$119M

EPS (Diluted)

-$0.31

Free Cash Flow

$273M

Revenue / Share

$12.29

Gross Margin

3.1%

Operating Margin

-1.6%

Net Margin

-2.6%

FCF Margin

5.9%

P/S

0.9x

P/E

—

Earnings Reports

Q1 2026

Apr 22, 2026

NEW

$1.1BEPS -$0.06

FY 2025

Feb 10, 2026

$4.8B-10.3%EPS -$0.24

Q4 2025

Feb 10, 2026

$1.2BEPS -$0.02

Q3 2025

Oct 28, 2025

$1.2B-13.4%EPS -$0.10

Q2 2025

Jul 29, 2025

$1.2BEPS -$0.13

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 21	$292M	-$87M	-$109M
Q3 21	$358M	-$68M	-$90M
Q4 21	$466M	-$324M	-$361M
Q1 22	$509M	$9M	-$19M
Q2 22	$622M	$54M	$37M
Q3 22	$728M	$105M	$76M
Q4 22	$788M	$149M	$117M
Q1 23	$792M	$151M	$126M
Q2 23	$759M	$144M	$105M
Q4 23	$1.6B	$186M	$125M
Q1 24	$1.5B	$158M	$87M
Q3 24	$1.4B	-$29M	-$991M
Q2 25	$1.2B	$28M	-$29M
Q3 25	$1.2B	$57M	-$28M
Q4 25	$1.2B	$58M	-$4M
Q1 26	$1.1B	$0	-$14M

Valuation

Quarter	P/S	P/E
Q2 21	2.0x	—
Q3 21	1.6x	—
Q4 21	1.4x	—
Q1 22	2.0x	—
Q2 22	1.8x	—
Q3 22	1.2x	—
Q4 22	1.4x	23.4x
Q1 23	0.9x	9.3x
Q2 23	1.1x	10.0x
Q4 23	1.1x	12.4x
Q1 24	1.0x	15.8x
Q3 24	0.6x	—
Q2 25	0.4x	—
Q3 25	0.4x	—
Q4 25	0.5x	—
Q1 26	0.9x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 21	$36M	-$2M
Q3 21	$7M	-$27M
Q4 21	$44M	-$32M
Q1 22	$34M	-$61M
Q2 22	$51M	-$45M
Q3 22	$178M	$52M
Q4 22	$303M	$184M
Q1 23	$234M	$117M
Q2 23	$163M	$30M
Q4 23	$453M	$247M
Q1 24	$366M	$139M
Q3 24	$296M	$116M
Q2 25	$140M	-$4M
Q3 25	$216M	$71M
Q4 25	$398M	$259M
Q1 26	$64M	-$53M

Capital Expenditures

Quarter	CapEx
Q2 21	$38M
Q3 21	$34M
Q4 21	$75M
Q1 22	$95M
Q2 22	$96M
Q3 22	$126M
Q4 22	$119M
Q1 23	$118M
Q2 23	$132M
Q4 23	$205M
Q1 24	$227M
Q3 24	$181M
Q2 25	$144M
Q3 25	$144M
Q4 25	$139M
Q1 26	$117M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 21	+16.5%	-2.0%
Q3 21	+72.8%	+39.2%
Q4 21	+111.3%	+139.8%
Q1 22	+111.4%	+47.4%
Q2 22	+113.3%	+45.9%
Q3 22	+103.3%	+45.4%
Q4 22	+69.0%	-18.8%
Q1 23	+55.4%	+26.0%
Q2 23	+22.0%	+11.8%
Q4 23	+117.8%	+124.2%
Q1 24	+91.6%	+111.9%
Q3 24	+71.4%	+252.6%
Q2 25	+60.7%	+90.9%
Q3 25	-25.8%	-17.5%
Q4 25	-23.8%	-18.9%
Q1 26	-17.7%	-51.8%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 21	$6M	2.0%
Q3 21	$5M	1.4%
Q4 21	$5M	1.0%
Q1 22	$5M	0.9%
Q2 22	$0	0.0%
Q3 22	$6M	0.8%
Q4 22	$6M	0.7%
Q1 23	-$758.0K	-0.1%
Q2 23	$7M	0.9%
Q4 23	$13M	0.8%
Q1 24	$12M	0.8%
Q3 24	$13M	1.0%
Q2 25	$10M	0.8%
Q3 25	$9M	0.7%
Q4 25	$0	0.0%
Q1 26	$4M	0.4%

OpEx Breakdown

Quarter	G&A	SG&A
Q2 21	—	$24M
Q3 21	$22M	—
Q4 21	$24M	—
Q1 22	$27M	—
Q2 22	—	$26M
Q3 22	—	$28M
Q4 22	—	$35M
Q1 23	—	$31M
Q2 23	—	$33M
Q4 23	—	$62M
Q1 24	—	$65M
Q3 24	—	$66M
Q2 25	$64M	—
Q3 25	—	$62M
Q4 25	—	$62M
Q1 26	$69M	—

Revenue Segments

Quarter	Contract Drilling	Directional Drilling	Other	Pressure Pumping	Completion Services	Drilling Products	Drilling Services
Q2 21	$142M	$25M	$13M	$112M	—	—	—
Q3 21	$158M	$32M	$16M	$153M	—	—	—
Q4 21	$231M	$35M	$17M	$183M	—	—	—
Q1 22	$257M	$43M	$20M	$190M	—	—	—
Q2 22	$305M	$55M	$24M	$238M	—	—	—
Q3 22	$356M	$59M	$25M	$288M	—	—	—
Q4 22	$399M	$59M	$23M	$307M	—	—	—
Q1 23	$419M	$56M	$23M	$293M	—	—	—
Q2 23	$432M	$55M	$21M	$250M	—	—	—
Q1 24	—	—	$18M	—	$945M	$90M	$458M
Q3 24	—	—	$15M	—	$832M	$89M	$422M
Q2 25	—	—	$8M	—	$719M	$88M	$404M
Q3 25	—	—	$5M	—	$705M	$86M	$380M
Q4 25	—	—	$5M	—	$702M	$84M	$361M

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$20M	$0	$20M
Q3 22	$43M	$0	$43M
Q4 22	$138M	$0	$138M
Q1 23	$157M	$0	$157M
Q2 23	$150M	$0	$150M
Q3 23	$67M	$0	$67M
Q4 23	$193M	$0	$193M
Q1 24	$170M	$0	$170M
Q2 24	$75M	$0	$75M
Q3 24	$113M	$2M	$115M
Q4 24	$239M	$0	$239M
Q1 25	$223M	$0	$223M
Q2 25	$184M	$0	$184M
Q3 25	$185M	$0	$185M
Q4 25	$421M	$0	$421M
Q1 26	$337M	$0	$337M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 21	188M	+0.4%	+1.0%
Q3 21	189M	+0.3%	+0.9%
Q4 21	215M	+13.8%	+14.7%
Q1 22	215M	+0.1%	+14.7%
Q2 22	220M	+2.0%	+16.6%
Q3 22	220M	+0.4%	+16.7%
Q4 22	220M	-0.3%	+2.2%
Q1 23	216M	-1.8%	+0.3%
Q2 23	209M	-3.2%	-4.9%
Q4 23	419M	+100.4%	+89.9%
Q1 24	410M	-2.1%	+86.4%
Q3 24	392M	-4.4%	+81.5%
Q2 25	386M	-1.5%	+84.7%
Q3 25	385M	-0.3%	-8.1%
Q4 25	379M	-1.5%	-7.5%
Q1 26	380M	+0.1%	-3.1%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 21	$97.3K	3K
Q3 21	$119.3K	3K
Q4 21	$93.3K	5K
Q1 22	$101.9K	5K
Q2 22	$124.4K	5K
Q3 22	$145.5K	5K
Q4 22	$121.3K	7K
Q1 23	$121.8K	7K
Q2 23	$116.8K	7K
Q4 23	$149.5K	11K
Q1 24	$142.5K	11K
Q3 24	$128.0K	11K
Q2 25	$132.5K	9K
Q3 25	$127.8K	9K
Q4 25	$145.7K	8K
Q1 26	$141.4K	8K

Revenue / Employee