Loading financials from SEC filings…
Oil & gas drilling · Energy · Fiscal year ends Dec 31
Patterson Uti Energy reported revenue of $4.8B in the fiscal year ended Dec 2025, down 9.8% from the year before. Operating income was −$41M, an operating margin of −0.9%, and net income was −$94M. Operating cash flow of $961M less capital expenditure of $589M left free cash flow of $372M. Net debt was $803M.
Ranks among the 7 oil & gas drilling companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 1,357 | 2,567 | 4,072 | 5,312 | 4,794 |
| Selling, general & admin | 92.4 | 117 | 170 | 268 | 255 |
| Operating income | −678 | 211 | 352 | −890 | −40.8 |
| Interest expense | 42.0 | 40.3 | 52.9 | 72.0 | 70.5 |
| Pre-tax income | −720 | 168 | 307 | −957 | −103 |
| Income tax | −62.7 | 13.2 | 61.2 | 9.5 | −9.9 |
| Net income | −655 | 155 | 246 | −968 | −93.6 |
| Diluted EPS | −3.36 | 0.70 | 0.88 | −2.44 | −0.24 |
| Diluted shares | 0.2 | 219 | 280 | 397 | 383 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 118 | 138 | 190 | 239 | 419 |
| Receivables | 356 | 566 | 971 | 764 | 723 |
| Inventory | 42.4 | 65.4 | 181 | 167 | 160 |
| Current assets | 584 | 829 | 1,486 | 1,295 | 1,418 |
| Net PP&E | 2,332 | 2,261 | 3,340 | 3,010 | 2,711 |
| Goodwill | 0.0 | 0.0 | 1,380 | 487 | 487 |
| Total assets | 2,958 | 3,144 | 7,420 | 5,833 | 5,570 |
| Payables | 190 | 237 | 534 | 421 | 471 |
| Deferred revenue | 60.3 | 110 | 98.9 | 75.2 | 79.3 |
| Current liabilities | 436 | 551 | 1,050 | 842 | 864 |
| Short-term debt | – | 0.0 | 12.2 | 6.4 | 0.0 |
| Long-term debt | 852 | 831 | 1,225 | 1,220 | 1,221 |
| Total liabilities | 1,348 | 1,478 | 2,599 | 2,358 | 2,346 |
| Shareholders' equity | 1,609 | 1,666 | 4,812 | 3,466 | 3,219 |
| Backlog (remaining obligations) | – | 830 | 700 | 426 | 291 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 95.5 | 566 | 1,006 | 1,176 | 961 |
| Capital expenditure | 166 | 437 | 616 | 678 | 589 |
| Free cash flow | −70.8 | 129 | 390 | 497 | 372 |
| Stock-based compensation | 21.6 | 21.1 | 46.8 | 46.4 | 39.3 |
| Acquisitions | 29.4 | 0.0 | 65.2 | 0.0 | 0.0 |
| Share buybacks | 6.3 | 70.1 | 201 | 290 | 69.6 |
| Dividends paid | 15.6 | 43.1 | 100 | 127 | 122 |
| Dividend per share | 0.08 | 0.20 | 0.32 | 0.32 | 0.32 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 89.2% | 58.6% | 30.5% | −9.8% |
| Operating income growth (YoY) | – | – | 66.8% | −352.8% | – |
| EPS growth (YoY) | – | – | 25.7% | −377.3% | – |
| Operating margin | −49.9% | 8.2% | 8.6% | −16.7% | −0.9% |
| Net margin | −48.2% | 6.0% | 6.0% | −18.2% | −2.0% |
| Return on equityBlank when equity is negative | −40.7% | 9.3% | 5.1% | −27.9% | −2.9% |
| ROCEEBIT ÷ (assets − current liabilities) | −26.9% | 8.1% | 5.5% | −17.8% | −0.9% |
| Free cash flow margin | −5.2% | 5.0% | 9.6% | 9.4% | 7.8% |
| Cash conversion (CFO ÷ net income) | −0.15x | 3.66x | 4.08x | −1.21x | −10.3x |
| Receivable days | 96 | 80 | 87 | 52 | 55 |
| Interest cover | −16.1x | 5.24x | 6.66x | −12.4x | −0.58x |
| Debt ÷ equity | 0.53x | 0.50x | 0.26x | 0.35x | 0.38x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 735 | 693 | 1,047 | 987 | 803 |
| Current ratio | 1.34x | 1.51x | 1.41x | 1.54x | 1.64x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.