Helmerich & Payne

Oil & Gas Drilling · Energy

Also trades as: 0J4G.L

Price

$43.55

-0.55 (-1.25%)

Market Cap

$4.35B

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Mixed

Growth

Mixed

Cash Flow

Weak

Stability

Strong

Valuation

Data not available

Dividends

Mixed

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Share count falling — buybacks

−7.9% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 107.8M (2021) → 99.3M (2025)

Winston Score History

The full picture

Helmerich & Payne is a company that rents out large drilling rigs to oil and gas companies. These rigs are used to drill wells deep into the ground to find and extract oil and natural gas. The company operates mostly in the United States, with a focus on major drilling regions like the Permian Basin in Texas, but also has some international operations.

The company makes money by charging oil and gas producers a daily rate to use its rigs and crews. Helmerich & Payne owns one of the largest fleets of high-tech "FlexRig" drilling rigs in North America, which gives it a reputation for reliability and efficiency compared to smaller competitors. However, its business is closely tied to oil prices — when prices fall, energy companies cut drilling budgets quickly, which reduces demand for rigs and puts pressure on revenue and profits, as the current negative operating margin reflects.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-0.6% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+145.1% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$34M/ year

↓ Declining (-17% vs prior year)

0.9% of revenue

In line with sector average (1%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

4.0%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$304M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Revenue declining

Helmerich & Payne's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

29.5%

Modest — 29.5% gross margin

Profit after running costs

Operating Margin

18.2%

Healthy — 18.2% operating margin

Return on the money invested

ROCE

9.1%

Below par — 9.1% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth

Sales YoY

+16.6%

Fast-growing sales (+16.6% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

1/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

10.1%

Modest free cash flow (10.1%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

What it owes vs what it owns

Debt / Equity

0.00

Conservative — low debt load (0.00)

Covers its interest

Interest Cover

2.34x

Tight — interest eats into profit (2.3x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend

Dividend Yield

2.25%

Moderate income — 2.25% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record

Dividend Growth

+0.0%

Dividend flat

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