Helmerich and Payne (HP) financial statements
Helmerich and Payne reported revenue of $3.7B in fiscal 2025, up 9.5% a year over 9 years.
Net income was -$164M and the operating margin 0.1%, against -1.6% in 2016.
Free cash flow was $117M, and the company returned $101M in dividends.
The diluted share count fell 8% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Helmerich and Payne's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.6B | $1.8B | $2.5B | $2.8B | $1.8B | $1.2B | $2.0B | $2.9B | $2.7B | $3.7B |
| Cost of revenue | — | $1.2B | $1.6B | $1.8B | $1.2B | $953M | $1.4B | $1.7B | $1.6B | $2.5B |
| Gross profit | — | $548M | $827M | $982M | $577M | $258M | $623M | $1.2B | $1.1B | $1.2B |
| Research and development | $10M | $12M | $18M | $27M | $22M | $22M | $27M | $30M | $41M | $34M |
| Selling, general and admin | $146M | $148M | $199M | $194M | $168M | $172M | $182M | $207M | $245M | $287M |
| Operating income | -$26M | -$169M | $33M | $21M | -$620M | -$429M | $45M | $568M | $457M | $3M |
| Interest expense | $23M | $20M | $24M | $25M | $24M | $24M | $19M | $17M | $29M | $108M |
| Pre-tax income | -$73M | -$185M | $16M | -$51M | -$636M | -$430M | $31M | $593M | $481M | -$74M |
| Income tax | -$20M | -$57M | -$477M | -$19M | -$140M | -$104M | $24M | $159M | $137M | $86M |
| Net income | -$57M | -$128M | $483M | -$34M | -$494M | -$326M | $7M | $434M | $344M | -$164M |
| EPS (diluted) | -$0.54 | -$1.20 | $4.37 | -$0.34 | -$4.60 | -$3.04 | $0.05 | $4.16 | $3.43 | -$1.66 |
| Diluted shares | 108M | 108M | 109M | 109M | 108M | 108M | 107M | 103M | 99M | 99M |
| Gross margin | — | 30.6% | 33.4% | 35.3% | 32.7% | 21.3% | 30.4% | 40.3% | 40.8% | 31.7% |
| Operating margin | -1.6% | -9.4% | 1.3% | 0.7% | -35.2% | -35.4% | 2.2% | 19.9% | 16.7% | 0.1% |
| Net margin | -3.5% | -7.2% | 19.5% | -1.2% | -28.1% | -26.9% | 0.3% | 15.2% | 12.5% | -4.4% |
Balance sheet
Fiscal years, from Helmerich and Payne's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $950M | $566M | $326M | $401M | $577M | $1.1B | $349M | $351M | $510M | $218M |
| Receivables | $375M | $477M | $565M | $496M | $193M | $229M | $459M | $404M | $419M | $783M |
| Inventory | $124M | $137M | $158M | $150M | $104M | $84M | $88M | $94M | $118M | $324M |
| Total current assets | $1.6B | $1.2B | $1.1B | $1.1B | $963M | $1.6B | $1.0B | $1.0B | $1.2B | $1.5B |
| Property, plant and equipment | $5.1B | $5.0B | $4.9B | $4.5B | $3.6B | $3.1B | $3.0B | $2.9B | $3.0B | $4.3B |
| Goodwill | $5M | $52M | $65M | $83M | $46M | $46M | $46M | $46M | $46M | $183M |
| Total assets | $6.8B | $6.4B | $6.2B | $5.8B | $4.8B | $5.0B | $4.4B | $4.4B | $5.8B | $6.7B |
| Total current liabilities | $330M | $344M | $377M | $410M | $219M | $866M | $395M | $419M | $447M | $815M |
| Long-term debt | $492M | $493M | $494M | $479M | $481M | $542M | $543M | $545M | $1.8B | $2.1B |
| Total liabilities | $2.3B | $2.3B | $1.8B | $1.8B | $1.5B | $2.1B | $1.6B | $1.6B | $2.9B | $3.9B |
| Shareholders' equity | $4.6B | $4.2B | $4.4B | $4.0B | $3.3B | $2.9B | $2.8B | $2.8B | $2.9B | $2.8B |
| Net debt | -$414M | -$28M | $210M | $131M | -$7M | $108M | $310M | $288M | $1.6B | $1.9B |
Cash flow
Fiscal years, from Helmerich and Payne's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $755M | $371M | $558M | $856M | $539M | $136M | $234M | $834M | $685M | $543M |
| Capital spending | $257M | $398M | $467M | $458M | $141M | $82M | $251M | $395M | $495M | $426M |
| Free cash flow | $497M | -$26M | $91M | $397M | $398M | $54M | -$17M | $438M | $190M | $117M |
| Stock-based compensation | $24M | $26M | $32M | $34M | $36M | $28M | $28M | $32M | $31M | $32M |
| Dividends paid | $300M | $306M | $308M | $313M | $260M | $109M | $107M | $201M | $168M | $101M |
| Net borrowing | -$40M | — | — | $0 | $0 | $549M | $0 | $0 | $1.2B | $400M |
| Free cash flow margin | 30.6% | -1.5% | 3.7% | 14.3% | 22.6% | 4.5% | -0.8% | 15.3% | 6.9% | 3.2% |
| Dividends per share | $2.78 | $2.82 | $2.82 | $2.87 | $2.41 | $1.01 | $1.01 | $1.96 | $1.70 | $1.01 |
Questions
What was Helmerich and Payne's revenue in 2025?
$3.7B in fiscal 2025, from its 10-K filing.
How much free cash flow does Helmerich and Payne generate?
$117M in fiscal 2025 (operating cash flow minus capital spending).
From Helmerich and Payne's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.