PATTERSON UTI ENERGY INC PTEN
We are a Houston, Texas-based leading provider of drilling and completion services to oil and natural gas exploration and production companies in the United States and other select countries, including contract drilling services, integrated well completion services and directional drilling services in the United States, and specialized drill bit solutions in the United States, Middle East and many other regions around the world. We operate under three reportable business segments: (i) drilling services, (ii) completion services, and (iii) drilling products.
Our contract drilling business operates in the continental United States and internationally in Colombia and Ecuador and, from time to time, we pursue contract drilling opportunities in other select markets. We also provide a comprehensive suite of directional drilling services in most major producing onshore oil and natural gas basins in the United States, and we provide services that improve the statistical accuracy of wellbore placement for directional and horizontal wells. We also provide electrical controls and automation to the energy, marine and mining industries, in North America and other select markets.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.79B | $5.31B | $4.07B | $2.57B | $1.36B | $1.12B | $2.47B | $3.33B | $2.36B | $915.9M |
| SG&A | $255.1M | $268.3M | $170.0M | $116.6M | $92.4M | $97.6M | $133.5M | $134.1M | $105.8M | $69.2M |
| Total operating expenses | $4.87B | $6.27B | $3.79B | $2.44B | $2.03B | $2.02B | $2.93B | $3.65B | $2.65B | $1.37B |
| Operating income | -$40.8M | -$889.7M | $352.0M | $211.0M | -$677.8M | -$892.3M | -$461.6M | -$322.2M | -$292.5M | -$456.2M |
| Interest expense | $70.5M | $72.0M | $52.9M | $40.3M | $42.0M | $40.8M | $75.2M | $51.6M | $37.5M | $40.4M |
| Pre-tax income | -$103.0M | -$956.9M | $307.1M | $167.9M | -$719.8M | -$931.0M | -$530.4M | -$367.4M | -$327.8M | -$496.2M |
| Income tax | $9.9M | $9.5M | $61.2M | $13.2M | $62.7M | $127.3M | $104.7M | $46.0M | $333.7M | $177.6M |
| Net income | -$93.1M | -$966.4M | $246.0M | $154.7M | -$654.5M | -$803.7M | -$425.7M | -$321.4M | $5.9M | -$318.6M |
| EPS, basic | -0.24 | -2.44 | 0.88 | 0.72 | -3.36 | -4.27 | -2.10 | -1.47 | 0.03 | -2.18 |
| EPS, diluted | -0.24 | -2.44 | 0.88 | 0.70 | -3.36 | -4.27 | -2.10 | -1.47 | 0.03 | -2.18 |
| Shares, diluted (wtd. avg.) | $383.5M | $397.2M | $280.1M | $219.5M | $195.0K | $188.0K | $203.0K | $218.6M | $199.9M | $146.2M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $418.5M | $239.2M | $192.7M | $137.6M | $117.5M | $224.9M | $174.2M | $245.0M | $42.8M | $35.2M |
| Receivables | $723.3M | $763.8M | $971.1M | $565.5M | $356.1M | $160.2M | $339.7M | $558.8M | $580.4M | $148.1M |
| Inventory | $160.3M | $167.0M | $180.8M | $65.4M | $42.4M | $33.1M | $36.4M | $65.6M | $69.2M | $20.2M |
| Total current assets | $1.42B | $1.30B | $1.49B | $829.4M | $583.7M | $478.0M | $631.8M | $950.2M | $746.9M | $246.9M |
| Property, plant and equipment | $2.71B | $3.01B | $3.34B | $2.26B | $2.33B | $2.76B | $3.31B | $4.00B | $4.25B | $3.41B |
| Goodwill | $487.4M | $487.4M | $1.38B | $0 | $0 | — | $395.1M | $410.8M | $611.5M | $86.2M |
| Other intangibles | $814.8M | $929.6M | $1.05B | $5.8M | $7.5M | $30.1M | $48.9M | $66.9M | $75.6M | $2.7M |
| Total assets | $5.57B | $5.83B | $7.42B | $3.14B | $2.96B | $3.30B | $4.44B | $5.47B | $5.76B | $3.77B |
| Accounts payable | $470.8M | $421.3M | $534.4M | $237.1M | $190.2M | $91.0M | $170.5M | $289.0M | $319.6M | $125.7M |
| Short-term debt | $0 | $6.4M | $12.2M | $0 | — | — | — | — | — | — |
| Total current liabilities | $863.6M | $842.0M | $1.05B | $551.0M | $435.9M | $273.7M | $400.6M | $526.3M | $546.2M | $264.8M |
| Long-term debt | $1.22B | $1.22B | $1.22B | $830.9M | $852.3M | $901.5M | $966.5M | $1.12B | $598.8M | $598.4M |
| Total liabilities | $2.35B | $2.36B | $2.60B | $1.48B | $1.35B | $1.28B | $1.61B | $1.96B | $1.78B | $1.52B |
| Retained earnings | -$1.26B | -$1.04B | $57.0M | -$87.4M | -$198.3M | $472.0M | $1.29B | $1.75B | $2.11B | $2.12B |
| Total equity | $3.22B | $3.47B | $4.82B | $1.67B | $1.61B | $2.02B | $2.83B | $3.51B | $3.98B | $2.25B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $961.2M | $1.18B | $1.01B | $566.2M | $95.5M | $278.9M | $696.2M | $730.7M | $300.7M | $305.0M |
| Stock-based compensation | $39.3M | $46.4M | $46.8M | $21.1M | $21.6M | $26.6M | $39.3M | $37.9M | $44.5M | $28.3M |
| Capital expenditure | $589.0M | $678.4M | $615.7M | $436.8M | $166.3M | $145.5M | $347.5M | $641.5M | $567.1M | $119.8M |
| Investing cash flow | -$567.2M | -$654.7M | -$1.02B | -$413.2M | -$131.6M | -$125.0M | -$301.8M | -$584.6M | -$1.01B | -$97.8M |
| Financing cash flow | -$210.7M | -$475.0M | $65.6M | -$133.4M | -$71.9M | -$103.2M | -$465.2M | $56.9M | $716.6M | -$285.3M |
| Dividends paid | $122.5M | $126.8M | $100.0M | $43.1M | $15.6M | $18.9M | $32.4M | $30.6M | $16.3M | $23.6M |
| Buybacks | $69.6M | $290.4M | $200.7M | $70.1M | $6.3M | $21.2M | $255.5M | $161.7M | $6.8M | $3.6M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000889900-26-000020.
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