Helmerich & Payne

Oil & Gas Drilling · Energy

Price

$34.14

+0.72 (+2.15%)

Market Cap

$3.41B

Winston Score

Winston is worried

Weak fundamentals across most pillars.

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)

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.

Winston Score History

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

-8.2% YoY

YoY Growth Rate

Revenue declining

EPS Growth

<−1,000% YoY

YoY Growth Rate

Earnings declining

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

Insiders holding steady — not selling despite ability to

Cash Runway

~23 months

$203M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Adequate runway but may need to raise capital within 2 years

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.

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Quality

Gross Margin

7.0%

Thin — 7.0% gross margin

Operating Margin

-1.3%

Losing money on operations — -1.3%

ROCE

-0.3%

Weak — -0.3% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

+29.2%

Fast-growing sales (29.2% YoY)

EPS YoY

-284.0%

Earnings shrinking (-284.0% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

EPS Consistency

0/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

Data not available

FCF Margin

1.0%

Thin free cash flow (1.0%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity

0.79

Moderate — manageable debt (0.79)

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend Yield

2.93%

Moderate income — 2.93% yield

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

Dividend Growth

+0.0%

Dividend flat

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