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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 |
| 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 |
| Operating Income | - | 15.62 | 540.25 | 444.26 | 232.32 |
| EBITDA | - | 453.69 | 992.98 | 907.46 | 658.78 |
| EBIT | - | 50.52 | 610.66 | 510.11 | 33.70 |
| Pretax Income | - | 31.32 | 593.38 | 481.02 | -74.11 |
| Tax Provision | - | 24.37 | 159.28 | 136.85 | 85.84 |
| Net Income | - | 6.95 | 434.10 | 344.16 | -163.70 |
| Net Income Common Stockholders | - | 5.44 | 428.24 | 339.44 | -165.09 |
| Total Expenses | - | 2,043.33 | 2,332.17 | 2,312.35 | 3,513.69 |
| Interest Expense | - | 19.20 | 17.28 | 29.09 | 107.81 |
| Interest Income | - | 18.09 | 28.39 | 41.17 | 35.21 |
| Research And Development | - | 26.56 | 30.10 | 40.96 | 34.12 |
| Selling General And Administration | - | 182.37 | 206.69 | 244.88 | 287.05 |
| Normalized EBITDA | - | 426.16 | 960.04 | 885.87 | 919.84 |
| Normalized Income | - | -14.79 | 409.99 | 328.73 | 42.55 |
| Market Cap | 3,899.91 | 3,899.91 | 3,899.91 | 3,899.91 | 3,899.91 |
Energy sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Helmerich & Payne, Inc.this co. | HP | - | -23.82 | 1.43 | -6.0% | 8.98 |
| Comstock Resources, Inc. | CRK | $5.0B | 11.84 | 1.88 | 15.9% | 5.73 |
| Tidewater Inc. | TDW | $4.4B | 13.11 | 3.21 | 24.5% | 10.26 |
| International Seaways, Inc. | INSW | $3.9B | 12.71 | 1.95 | 15.3% | 8.52 |
| Cactus, Inc. | WHD | $3.9B | 23.74 |
| - |
| - |
| - |
| - |
| - |
| 3.21 |
| 13.5% |
| 11.78 |
| SM Energy Company | SM | $3.3B | 10.65 | 1.43 | 13.5% | 4.18 |
| Par Pacific Holdings, Inc. | PARR | $3.3B | 8.60 | 2.10 | 24.4% | 6.02 |
| CVR Energy, Inc. | CVI | $3.1B | 117.36 | 4.34 | 3.7% | 7.51 |
| Crescent Energy Company | CRGY | $3.1B | 31.41 | 0.81 | 2.6% | 5.92 |
| Peer Median | - | 12.91 | 2.02 | 14.4% | 6.76 | |