Patterson-UTI Energy (PTEN) financial statements
Patterson-UTI Energy reported revenue of $4.8B in fiscal 2025, up 20.3% a year over 9 years.
Net income was -$94M and the operating margin -0.8%, against -49.8% in 2016.
Free cash flow was $372M, and the company returned $122M in dividends and $70M in net buybacks.
The diluted share count rose 162% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Patterson-UTI Energy's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $916M | $2.4B | $3.3B | $2.5B | $1.1B | $1.4B | $2.6B | $4.1B | $5.4B | $4.8B |
| Selling, general and admin | $69M | $106M | $134M | $134M | $98M | $92M | $117M | $170M | $268M | $255M |
| Operating income | -$456M | -$293M | -$322M | -$462M | -$892M | -$678M | $211M | $352M | -$890M | -$41M |
| Interest expense | $40M | $37M | $52M | $75M | $41M | $42M | $40M | $53M | $72M | $71M |
| Pre-tax income | -$496M | -$328M | -$367M | -$530M | -$931M | -$720M | $168M | $307M | -$957M | -$103M |
| Income tax | -$178M | -$334M | -$46M | -$105M | -$127M | -$63M | $13M | $61M | $9M | -$10M |
| Net income | -$319M | $6M | -$321M | -$426M | -$804M | -$655M | $155M | $246M | -$968M | -$94M |
| EPS (diluted) | -$2.18 | $0.03 | -$1.47 | -$2.10 | -$4.27 | -$3.36 | $0.70 | $0.88 | -$2.44 | -$0.24 |
| Diluted shares | 146M | 200M | 219M | 203M | 188M | 195M | 219M | 280M | 397M | 383M |
| Operating margin | -49.8% | -12.4% | -9.7% | -18.7% | -79.4% | -49.9% | 8.0% | 8.5% | -16.5% | -0.8% |
| Net margin | -34.8% | 0.3% | -9.7% | -17.2% | -71.5% | -48.2% | 5.8% | 5.9% | -18.0% | -1.9% |
Balance sheet
Fiscal years, from Patterson-UTI Energy's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $35M | $43M | $245M | $174M | $225M | $118M | $138M | $193M | $239M | $419M |
| Receivables | $148M | $580M | $559M | $340M | $160M | $356M | $566M | $971M | $764M | $723M |
| Inventory | $20M | $69M | $66M | $36M | $33M | $42M | $65M | $181M | $167M | $160M |
| Total current assets | $247M | $747M | $950M | $632M | $478M | $584M | $829M | $1.5B | $1.3B | $1.4B |
| Property, plant and equipment | $3.4B | $4.3B | $4.0B | $3.3B | $2.8B | $2.3B | $2.3B | $3.3B | $3.0B | $2.7B |
| Goodwill | $86M | $611M | $411M | $395M | — | $0 | $0 | $1.4B | $487M | $487M |
| Total assets | $3.8B | $5.8B | $5.5B | $4.4B | $3.3B | $3.0B | $3.1B | $7.4B | $5.8B | $5.6B |
| Total current liabilities | $265M | $546M | $526M | $401M | $274M | $436M | $551M | $1.1B | $842M | $864M |
| Long-term debt | $598M | $599M | $1.1B | $967M | $901M | $852M | $831M | $1.2B | $1.2B | $1.2B |
| Total liabilities | $1.5B | $1.8B | $2.0B | $1.6B | $1.3B | $1.3B | $1.5B | $2.6B | $2.4B | $2.3B |
| Shareholders' equity | $2.2B | $4.0B | $3.5B | $2.8B | $2.0B | $1.6B | $1.7B | $4.8B | $3.5B | $3.2B |
| Net debt | $563M | $556M | $874M | $792M | $677M | $735M | $693M | $1.0B | $987M | $803M |
Cash flow
Fiscal years, from Patterson-UTI Energy's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $305M | $301M | $731M | $696M | $279M | $95M | $566M | $1.0B | $1.2B | $961M |
| Capital spending | $120M | $567M | $641M | $348M | $145M | $166M | $437M | $616M | $678M | $589M |
| Free cash flow | $185M | -$266M | $89M | $349M | $133M | -$71M | $129M | $390M | $497M | $372M |
| Stock-based compensation | $28M | $44M | $38M | $39M | $27M | $22M | $21M | $47M | $46M | $39M |
| Dividends paid | $24M | $16M | $31M | $32M | $19M | $16M | $43M | $100M | $127M | $122M |
| Share buybacks (net) | -$4M | -$7M | -$162M | -$255M | -$21M | -$6M | -$70M | -$201M | -$290M | -$70M |
| Net borrowing | -$255M | — | $521M | — | — | — | — | — | — | — |
| Free cash flow margin | 20.2% | -11.3% | 2.7% | 14.1% | 11.9% | -5.2% | 4.9% | 9.4% | 9.2% | 7.7% |
| Dividends per share | $0.16 | $0.08 | $0.14 | $0.16 | $0.10 | $0.08 | $0.20 | $0.36 | $0.32 | $0.32 |
Questions
What was Patterson-UTI Energy's revenue in 2025?
$4.8B in fiscal 2025, from its 10-K filing.
How much free cash flow does Patterson-UTI Energy generate?
$372M in fiscal 2025 (operating cash flow minus capital spending).
From Patterson-UTI Energy's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.