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Helmerich & Payne, Inc., together with its subsidiaries, provides drilling solutions and technologies for oil and gas exploration and production companies. The company operates through North America Solutions, Offshore Solutions, and International Solutions segments. The North America Solutions segment conducts operations primarily in Texas. The Offshore Solutions segment has drilling operations in Louisiana and in U.S. federal waters the North Sea and Norwegian Sea off the coast of Norway, Caspian Sea and other international waters. The International Solutions segment conducts drilling operations in Saudi Arabia, Argentina, Bahrain, Oman, Germany, and Kuwait. The company focuses on developing, promoting, and commercializing technologies designed to enhance the drilling operations, as well as wellbore quality and placement. It also owns and operates commercial real estate properties. In addition, the company's real estate investments include a shopping center. Helmerich & Payne, Inc. was founded in 1920 and is headquartered in Tulsa, Oklahoma.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $3.7B | $659M | $-164M | $117M | -6.0% | 35.9% | -147.6% |
| 2024 | $2.8B | $907M | $344M | $190M | 11.8% | -4.0% | -20.7% |
| 2023 | $2.9B | $993M | $434M | $438M | 15.7% | 39.5% | 6143.3% |
| 2022 | $2.1B | $454M | $7M | $-39M | 0.3% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 2,058.94 | 2,872.42 | 2,756.61 | 3,746.01 |
| Operating Revenue | - | 2,049.84 | 2,862.68 | 2,746.13 | 3,678.66 |
| Cost Of Revenue | - | 1,829.76 | 2,090.91 | 2,022.02 | 3,136.49 |
| Gross Profit | - | 229.18 | 781.51 | 734.58 | 609.52 |
| Operating Expense | - | 213.57 | 241.26 | 290.32 | 377.20 |
| Research And Development | - | 26.56 | 30.10 | 40.96 | 34.12 |
| Selling General And Administration | - | 182.37 | 206.69 | 244.88 | 287.05 |
| Total Expenses | - | 2,043.33 | 2,332.17 | 2,312.35 | 3,513.69 |
| Operating Income | - | 15.62 | 540.25 | 444.26 | 232.32 |
| Total Operating Income As Reported | - | 45.29 | 568.31 | 457.45 | 3.32 |
| EBITDA | - | 453.69 | 992.98 | 907.46 | 658.78 |
| Normalized EBITDA | - | 426.16 | 960.04 | 885.87 | 919.84 |
| EBIT | - | 50.52 | 610.66 | 510.11 | 33.70 |
| Interest Income | - | 18.09 | 28.39 | 41.17 | 35.21 |
| Interest Expense | - | 19.20 | 17.28 | 29.09 | 107.81 |
| Net Interest Income | - | -1.11 | 11.11 | 12.08 | -72.60 |
| Other Non Operating Income Expenses | - | -10.71 | 9.08 | 3.09 | 27.23 |
| Other Income Expense | - | 16.81 | 42.02 | 24.68 | -233.84 |
| Interest Income Non Operating | - | 18.09 | 28.39 | 41.17 | 35.21 |
| Interest Expense Non Operating | - | 19.20 | 17.28 | 29.09 | 107.81 |
| Net Non Operating Interest Income Expense | - | -1.11 | 11.11 | 12.08 | -72.60 |
| Pretax Income | - | 31.32 | 593.38 | 481.02 | -74.11 |
| Tax Provision | - | 24.37 | 159.28 | 136.85 | 85.84 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 5.78 | 8.83 | 6.15 | -54.82 |
| Net Income Continuous Operations | - | 6.95 | 434.10 | 344.16 | -159.95 |
| Net Income From Continuing And Discontinued Operation | - | 6.95 | 434.10 | 344.16 | -163.70 |
| Net Income From Continuing Operation Net Minority Interest | - | 6.95 | 434.10 | 344.16 | -163.70 |
| Net Income | - | 6.95 | 434.10 | 344.16 | -163.70 |
| Net Income Common Stockholders | - | 5.44 | 428.24 | 339.44 | -165.09 |
| Net Income Including Noncontrolling Interests | - | 6.95 | 434.10 | 344.16 | -159.95 |
| Normalized Income | - | -14.79 | 409.99 | 328.73 | 42.55 |
| Diluted NI Availto Com Stockholders | - | 5.44 | 428.25 | 339.44 | -165.09 |
| Basic Average Shares | - | 105.89 | 102.45 | 98.86 | 99.27 |
| Diluted Average Shares | - | 106.56 | 102.85 | 99.07 | 99.27 |
| Reconciled Depreciation | - | 403.17 | 382.31 | 397.34 | 625.08 |
| Reconciled Cost Of Revenue | - | 1,829.76 | 2,090.91 | 2,022.02 | 3,136.49 |
| Total Unusual Items | - | 27.53 | 32.94 | 21.59 | -261.06 |
| Total Unusual Items Excluding Goodwill | - | 27.53 | 32.94 | 21.59 | -261.06 |
| Minority Interests | - | - | 0 | 0 | -3.75 |
| Net Income Discontinuous Operations | 11.31 | 0.40 | - | - | - |
| Special Income Charges | - | -30.41 | 28.06 | 13.19 | -229.01 |
| Gain On Sale Of Business | 0 | 0 | - | - | - |
| Other Special Charges | - | 60.08 | - | - | - |
| Impairment Of Capital Assets | - | -25.08 | -36.08 | -33.31 | 160.63 |
| Restructuring And Mergern Acquisition | - | 0.84 | 0 | 14.98 | 66.83 |
| Gain On Sale Of Security | - | 57.94 | 4.88 | 8.40 | -32.06 |
| Gain On Sale Of Ppe | - | 5.43 | -8.02 | -5.14 | -1.54 |
| Other Operating Expenses | - | 4.64 | 4.48 | 4.48 | 56.02 |
| Otherunder Preferred Stock Dividend | - | 1.51 | 5.86 | 4.73 | 1.40 |
| Average Dilution Earnings | - | 0 | 0.01 | 0 | 0 |
Energy sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Helmerich & Payne, Inc.this co. | HP | $4.0B | -24.17 | 1.45 | -6.0% | 9.06 |
| Cactus, Inc. | WHD | $4.1B | 24.62 | 3.33 | 13.5% | 12.23 |
| Comstock Resources, Inc. | CRK | $4.1B | 9.67 | 1.53 | 15.9% | 5.06 |
| Crescent Energy Company | CRGY | $4.0B | 30.32 | 0.78 | 2.6% | 5.84 |
| Oceaneering International, Inc. | OII | $4.0B | 11.22 |
| - |
| - |
| - |
| - |
| - |
| 3.71 |
| 33.0% |
| 9.77 |
| International Seaways, Inc. | INSW | $3.9B | 12.56 | 1.92 | 15.3% | 8.43 |
| Peabody Energy Corporation | BTU | $3.8B | -71.88 | 1.08 | -1.5% | 9.47 |
| Tidewater Inc. | TDW | $3.7B | 11.04 | 2.71 | 24.5% | 8.67 |
| CVR Energy, Inc. | CVI | $3.4B | 125.66 | 4.65 | 3.7% | 7.89 |
| Peer Median | - | 11.89 | 2.31 | 14.4% | 8.55 | |