HP
Helmerich & Payne, Inc.
HP lost money over the past year, so it has no meaningful PE right now. Analysts expect earnings to recover and profitability to improve, though they disagree widely on how much.
HP Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Under pressure | |
| Healthy | |
| Stable |
HP's cash flow is currently healthy, and its revenue and balance sheet are stable, but its profitability is under pressure.
HP PE Valuation
HP has no meaningful PE right now: it lost money over the past year.
HP Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect earnings and revenue growth for HP, with profitability improving. However, they disagree widely on these estimates.
HP Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.53 | — |
| Q2 2026 | -$1.40 | -$1.08 |
| Q1 2026 | -$3.78 | -272% |
| Q4 2025 | -$3.18 | -205% |
| Q3 2025 | -$1.66 | -148% |
| Q2 2025 | -$0.32 | -109% |
| Q1 2025 | $2.20 | -37% |
| Q4 2024 | $3.03 | -28% |
| Q3 2024 | $3.43 | -18% |
HP is still losing money, but far less than before: $1.40 per share over the past year, against $5.52 at its worst in late 2020.
HP Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $1B | -0.6% |
| Q1 2026 | $932.4M | -8.2% |
| Q4 2025 | $1B | +50% |
| Q3 2025 | $1B | +46% |
| Q2 2025 | $1B | +49% |
| Q1 2025 | $1B | +48% |
| Q4 2024 | $677.3M | 0% |
| Q3 2024 | $693.8M | +5.2% |
HP's revenue is growing: $1B last quarter, about level with the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 18% | +31 points |
| Q1 2026 | -4% | -8.1 points |
| Q4 2025 | -5.9% | -19 points |
| Q3 2025 | -0.1% | -16 points |
| Q2 2025 | -12% | -28 points |
| Q1 2025 | 4.2% | -12 points |
| Q4 2024 | 13% | -4.9 points |
| Q3 2024 | 15% | +1.1 points |
HP's operating margin was 18% last quarter, up 31 points from the same quarter a year ago.
HP Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $83.9M | +241% |
| Q1 2026 | -$26.3M | +$76.4M |
| Q4 2025 | $114.9M | +121% |
| Q3 2025 | $142.8M | +127% |
| Q2 2025 | $24.6M | -61% |
| Q1 2025 | -$102.7M | -504% |
| Q4 2024 | $51.9M | +35% |
| Q3 2024 | $62.8M | -38% |
HP still generates free cash flow, though less than at its 2023 peak: $315M over the past year.
HP Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.2% | +152K shares |
| 1 year | +0.6% | +608K shares |
| 3 years | -1.5% | -1.5M shares |
| 5 years | -7.3% | -7.9M shares |
| Available history | -8.4% | -9.2M shares |
HP has 100M diluted shares, up 0.6% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | $3.9M |
| Q4 2023 | $47.4M |
HP Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 2.0x | Moderate |
| Q1 2026 | 3.6x | Elevated |
| Q4 2025 | 3.2x | Elevated |
| Q3 2025 | 3.0x | Moderate |
| Q2 2025 | 3.1x | Elevated |
| Q1 2025 | 2.6x | Moderate |
| Q4 2024 | 1.7x | Healthy |
| Q3 2024 | 1.8x | Healthy |
HP's net debt is about 2.0 years of its operating earnings (EBITDA), down from 3.1 years a year ago.
HP Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 48.5 | Neutral |
| Stochastic | 33.2 | Neutral |
HP's weekly RSI is 48 (neutral) and its Stochastic is 33 (neutral).
HP PE vs Energy Sector
| Metric | HP | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 13x | — |
HP has no meaningful PE right now: it lost money over the past year.
HP Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $38.6 | 3.8% below |
| 20 week MA | $38.7 | 4.1% below |
| 50 week MA | $36.3 | 2.4% above |
| 100 week MA | $29.6 | 26% above |
| 200 week MA | $33.6 | 11% above |
HP has slipped below its 8- and 20-week averages, though it's still 11% above its 200-week average.
HP Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $44.4 | $24.2 | -46% |
| 2021 | $24.2 | $24.8 | +2.3% |
| 2022 | $24.8 | $48.9 | +98% |
| 2023 | $48.9 | $36.2 | -26% |
| 2024 | $36.2 | $30.8 | -15% |
| 2025 | $30.8 | $27.9 | -9.5% |
| 2026 YTD | $27.9 | $37.1 | +33% |
HP has finished three years in a row lower, and it's up 33% so far in 2026.