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Patterson UTI Energy Inc (PTEN) stock

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NASDAQ: PTEN Nasdaq Oil & Gas Drilling Next results ~February 4, 2027

C+ Fundamentals grade

Patterson UTI Energy Inc is a US-listed company in the oil & gas drilling industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$19

Cash-flow model

Base case. Range ~$13–$26 across our lower- and higher-growth cases (1.5%–11.5% a year).

Price vs value

Undervalued

The price is below our entire value range; our base value is 58% above it.

Price used: $11.80, November 2, 2026

Patterson UTI Energy Inc valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 8 selling0 purchases and 18 sales by directors and officers, last 12 monthsInsider trades
  • Funds250 adding, 168 cuttingOf 69 active managers that changed their stake, 38 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Patterson UTI Energy files

10-Q filed November 2: Patterson UTI Energy

Rating: Hold to Buy Model value +42.7%

Revenue for the twelve months to September 2026 was $4.84bn, up 0.0% on a year earlier, against a decline of 6.9% a quarter earlier. Free-cash-flow margin held at 5.5%. Operating margin widened to 0.9% from -1.5%. Its fundamentals grade moves from D to C+. Our model value rises from $13.08 to $18.67 a share, against a share price of $11.80. The rating changes from Hold to Buy. At that price, our model says the market is pricing in cash flow shrinking about 0.1% a year for five years, slower than the 28.9% a year revenue growth it has delivered.

Source: 10-Q filed November 2, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (1)

Where Patterson UTI Energy stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $4.67bn, down 6.9% on a year earlier, a smaller fall than the 9.4% decline a quarter earlier. That puts it 1380 of 1447 for growth among all the companies we cover. Free-cash-flow margin fell to 3.8% from 6.6% a year earlier. Operating margin widened to -1.1% from -20.6%. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 4 of our 7 financial-health checks. Our cash-flow model value is $13.08 a share, against a share price of $12.22. At that price, our model says the market is pricing in about 4.1% a year of cash-flow growth for five years, slower than the 28.1% a year revenue growth it has delivered.

10-Q on SEC EDGAR

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~February 4, 2027 (estimated)

Patterson UTI Energy Inc's trailing-twelve-month revenue grew 0.0% year on year, with a free-cash-flow margin of 5.5%. Where it stands out: change in growth rate of +6.9pp ranks 1 of 6 oil & gas drilling companies we cover. Where it lags: operating margin of 0.9% ranks 5 of 5 oil & gas drilling companies we cover.

Our discounted-cash-flow model values the business at ~$19 per share in the base case (~$13–$26 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 7.9% while net income grew 81.7%: a 90pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Priced below our value. The share price of $11.80 is 58% below our value per share of $19.
  • Growth speeding up. The growth rate is 6.9 points higher than a quarter earlier.
  • Shrinking share count. Diluted shares fell 1.3% in a year, so each share owns more of the business.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 38.1% over 90 days.

Things to watch

  • Volatile shares. Over the past year the shares showed annualised volatility of 52% and a beta of -0.3 against the S&P 500.
  • Insiders selling. 8 insiders sold $34M of stock over the past 365 days and none bought (9% under pre-set trading plans).
  • Below peers: operating margin. Operating margin of 0.9% ranks 5 of 5 oil & gas drilling companies we cover (median 7.8%).
  • Below peers: net margin. Net margin of -0.5% ranks 5 of 6 oil & gas drilling companies we cover (median 0.1%).

Latest results: FY2026 Q3

Filed November 2, 2026
Earnings per share
$0.07 against an average estimate of $0.04: beat by 86.3%
Revenue
$1.34bn, up 14.1% on a year earlier
Share reaction
+5.7% in the first session after the results on October 29, 2026, against -2.1% for the S&P 500
Next report
October 28, 2026; average EPS estimate $0.04

Patterson UTI Energy's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-11.4%
  • 1 week-3.7%
  • 1 month+5.3%
  • This year+98.8%
  • 1 year+96.4%
  • 5 years+50.8%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$4.8B
Operating margin
0.9%
Net margin
-0.5%
EPS (TTM, diluted)
$-0.07

Growth

Revenue growth
+0.0%
Change in growth rate
+6.9 pts
Share count change
−1.3%

Cash

Free cash flow (TTM)
$266M
FCF margin
5.5%
Stock pay % of revenue
0.7%

Earnings

Last results
October 29, 2026
Next results (est.)
February 4, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Results
  3. Announcement
  4. Insider trade
  5. Announcement
  6. Insider trade
  7. Insider trade
  8. Insider trade
  9. Insider trade
  10. Announcement
  11. Results
  12. Results
  13. Announcement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Patterson UTI Energy Inc valuation models and calculator

What the price is pricing in

The share price implies about 0.3% a year of cash-flow growth for five years.That is slower than the 28.9% a year revenue growth Patterson UTI Energy has delivered.

  • Priced in0.3%
  • Last 12 months0.0%
  • 3 years a year13.0%
  • 5 years a year28.9%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($12.15, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Buy12-month view
12-month price target
~$19
Price used
$12.15close November 3, 2026
Implied change
▲ +54%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Patterson UTI Energy Inc's free cash flow after stock-based pay with after-tax interest added back ($367M, FY2026 Q3 TTM), growing 7% and 7% in the next two years (forecasts, guidance and its record), then back to 6.5% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$13–~$26 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Patterson UTI Energy Inc's free cash flow after stock-based pay ( $367M, FY2026 Q3 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Patterson UTI Energy Inc as an operating company, with every model that fits that kind of business. Cost of equity 8.8%: the 10-year Treasury yield (4.9%) plus a beta of 0.87 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$19 ~$13–$26 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$6.1 ~$5.1–$7.6 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$14 ~$6.1–$19 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Patterson UTI Energy Inc with Oil & Gas Drilling in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −30%
  • Revenue growth 5 points higher ▲ +40%
  • Free-cash-flow margin 1 point lower ▼ −18%
  • Last year's free-cash-flow margin change, if it persists ▼ −8%
  • Discount rate 1 point higher ▼ −17%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $12$17$23$32$43$58
8.5% $8$12$17$23$31$41
10% $6$9$13$18$24$32

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$12.11$21.79$18.69$8.48$8.74$4.47$7.26$14.65$9.64$7.62$5.94$11.80
Market value$1.8bn$3.2bn$3.7bn$1.9bn$1.8bn$841m$1.4bn$3.2bn$2.7bn$3.0bn$2.3bn$4.5bn
+ Net debt (− = net cash)$742m$565m$825m$880m$801m$684m$741m$699m$1.1bn$995m$809m$908m
Enterprise value$2.5bn$3.7bn$4.6bn$2.7bn$2.6bn$1.5bn$2.2bn$3.9bn$3.8bn$4.0bn$3.1bn$5.4bn
Multiples
Price / sales 0.9x3.5x1.6x0.6x0.7x0.7x1.0x1.2x0.7x0.6x0.5x0.9x
Price / earnings ——n/m————20.8x11.0x———
Price / free cash flow 6.9x17.2x—20.8x5.1x6.3x—24.9x6.9x6.1x6.1x16.9x
EV / EBITDA ————————————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

36 /100

Weak moat

How hard Patterson UTI Energy's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median -6.2% of total assets over 10 years.

  • Durability 10 / 20

    Operating margin has been a median -12.2%; its worst year was -61.0%.

  • Cash conversion 9 / 20

    Free cash flow was positive in 6 of 10 years, at a median 5.7% of revenue.

  • Discipline 10 / 20

    The diluted share count rose 111.6% over five years; stock-based pay has been a median 1.2% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$0.05 +79% $4.9bn +2%
Next $0.34 +771% $5.3bn +8%

Next year's EPS estimate has moved +38.1% in 90 days, across 7 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is 0.0% on 90 days ago. In the last 30 days, 1 analyst raised Patterson UTI Energy Inc's forecast and 0 cut it.

Consensus EPS forecast Patterson UTI Energy Inc, last 90 days
−$0.10 $0.00 $0.10 $0.20 $0.30 $0.40 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: −$0.05 Current fiscal year, 60 days ago: −$0.05 Current fiscal year, 30 days ago: −$0.05 Current fiscal year, 7 days ago: −$0.05 Current fiscal year, Now: −$0.05 −$0.05 Next fiscal year, 90 days ago: $0.24 Next fiscal year, 60 days ago: $0.31 Next fiscal year, 30 days ago: $0.29 Next fiscal year, 7 days ago: $0.34 Next fiscal year, Now: $0.34 $0.34

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago −$0.05$0.24
60 days ago −$0.05$0.31
30 days ago −$0.05$0.29
7 days ago −$0.05$0.34
Now −$0.05$0.34

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $0.04 $0.07 +86.3%
Jun 2026 −$0.03 −$0.05 −46.8%
Mar 2026 −$0.10 −$0.06 +41.7%
Dec 2025 −$0.10 −$0.02 +80.8%

Adjusted EPS as companies report it, against the average analyst estimate.

How our valuation uses these forecasts

Our cash-flow model grows Patterson UTI Energy Inc's revenue by +7.0% next year and +7.0% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+7.6%, weight 45%) and the company's own record (+6.5%, weight 55%) . How the weights are set.

Analyst recommendations

16 analysts, Oct 2026
Buy956%
Hold744%
Sell00%

Monthly trend

  1. Oct 202645716
  2. Sep 202645615
  3. Aug 202645615
  4. Jul 202645615

Counts of recommendations published by analysts covering Patterson UTI Energy Inc, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
8.5%
of tradable shares
Days to cover
3.64
at average volume
Short interest, 1 month
−21%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
1.9%
of shares
Employees
7,900
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +96.4%

$6.01 on October 31, 2025 to $11.80

ThenNowEffect
Revenue (last 12 months) $5.0bn $4.7bn −6.9%
P/S multiple 0.5x 1.0x +106.8%
Share count 388m 380m +2.0%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
PTEN+62%+102%−34%−21%−22%+99%
Industry peers (median)+23%+89%+30%−32%−3%+51%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
PTEN50%67%17%58%33%64%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
PTEN−40%−45%−44%−41%−43%−33%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 3, 2015: 94% from February 14, 2017 to April 3, 2020. Getting back needed a 1573% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$5.18 – $13.32
From 52-week high
−11.4%
vs 50-day average
−0.6%
vs 200-day average
+12.7%
Volatility (1 year)
52%
Beta vs S&P 500
-0.35

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
11 up, 1 down
typical move ±5.4%
After a week
8 up, 3 down
typical move ±5.0%
After a month
5 up, 6 down
typical move ±12.2%
Results releasedNext dayS&P 500 next day5 days21 days
October 29, 2026 +5.7% −2.1% — —
July 30, 2026 +12.3% +2.4% +7.7% +33.2%
April 23, 2026 +4.8% +0.4% +13.0% +13.9%
February 5, 2026 +8.9% +0.6% +2.4% +18.0%
January 5, 2026 +2.6% +1.3% +4.3% +22.9%
October 23, 2025 +9.0% +1.4% +3.6% −9.0%
July 24, 2025 −4.1% +0.5% −4.2% −5.8%
April 24, 2025 +3.6% +2.8% −0.3% −2.7%
February 6, 2025 +2.9% −0.6% +8.4% −11.1%
October 24, 2024 +4.7% +0.2% −1.7% +11.3%
July 25, 2024 +5.0% +0.6% +2.8% −6.2%
May 2, 2024 +1.7% +2.2% +6.3% −0.2%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Patterson UTI Energy Inc’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: fundamentals grade C+ (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: the shares trade below our fair value: a collar caps upside the model expects.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Patterson UTI Energy Inc in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Patterson UTI Energy Inc
$4B $4.5B $5B $5.5B $6B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $4.1B Revenue (TTM), FY24 Q1: $4.9B Revenue (TTM), FY24 Q2: $5.5B Revenue (TTM), FY24 Q3: $5.8B Revenue (TTM), FY24 Q4: $5.4B Revenue (TTM), FY25 Q1: $5.1B Revenue (TTM), FY25 Q2: $5B Revenue (TTM), FY25 Q3: $4.8B Revenue (TTM), FY25 Q4: $4.8B Revenue (TTM), FY26 Q1: $4.7B Revenue (TTM), FY26 Q2: $4.7B Revenue (TTM), FY26 Q3: $4.8B $4.8B

Source: SEC EDGAR filings. Retrieved November 2, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $4.1B
FY24 Q1 $4.9B
FY24 Q2 $5.5B
FY24 Q3 $5.8B
FY24 Q4 $5.4B
FY25 Q1 $5.1B
FY25 Q2 $5B
FY25 Q3 $4.8B
FY25 Q4 $4.8B
FY26 Q1 $4.7B
FY26 Q2 $4.7B
FY26 Q3 $4.8B
Revenue growth, TTM YoY Patterson UTI Energy Inc
-50% 0% 50% 100% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: 56.6% Revenue growth, TTM YoY, FY24 Q1: 66.0% Revenue growth, TTM YoY, FY24 Q2: 77.9% Revenue growth, TTM YoY, FY24 Q3: 73.1% Revenue growth, TTM YoY, FY24 Q4: 29.7% Revenue growth, TTM YoY, FY25 Q1: 5.8% Revenue growth, TTM YoY, FY25 Q2: -8.0% Revenue growth, TTM YoY, FY25 Q3: -16.6% Revenue growth, TTM YoY, FY25 Q4: -10.3% Revenue growth, TTM YoY, FY26 Q1: -9.4% Revenue growth, TTM YoY, FY26 Q2: -6.9% Revenue growth, TTM YoY, FY26 Q3: 0.0% 0.0%

Source: SEC EDGAR filings. Retrieved November 2, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 56.6%
FY24 Q1 66.0%
FY24 Q2 77.9%
FY24 Q3 73.1%
FY24 Q4 29.7%
FY25 Q1 5.8%
FY25 Q2 -8.0%
FY25 Q3 -16.6%
FY25 Q4 -10.3%
FY26 Q1 -9.4%
FY26 Q2 -6.9%
FY26 Q3 0.0%
Operating margin (TTM) Patterson UTI Energy Inc
-30% -20% -10% 0% 10% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: 8.5% Operating margin (TTM), FY24 Q1: 6.4% Operating margin (TTM), FY24 Q2: 4.7% Operating margin (TTM), FY24 Q3: -12.9% Operating margin (TTM), FY24 Q4: -16.5% Operating margin (TTM), FY25 Q1: -18.6% Operating margin (TTM), FY25 Q2: -20.6% Operating margin (TTM), FY25 Q3: -1.5% Operating margin (TTM), FY25 Q4: -0.8% Operating margin (TTM), FY26 Q1: -1.5% Operating margin (TTM), FY26 Q2: -1.1% Operating margin (TTM), FY26 Q3: 0.9% 0.9%

Source: SEC EDGAR filings. Retrieved November 2, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 8.5%
FY24 Q1 6.4%
FY24 Q2 4.7%
FY24 Q3 -12.9%
FY24 Q4 -16.5%
FY25 Q1 -18.6%
FY25 Q2 -20.6%
FY25 Q3 -1.5%
FY25 Q4 -0.8%
FY26 Q1 -1.5%
FY26 Q2 -1.1%
FY26 Q3 0.9%
FCF margin (TTM) Patterson UTI Energy Inc
2% 4% 6% 8% 10% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 9.4% FCF margin (TTM), FY24 Q1: 8.5% FCF margin (TTM), FY24 Q2: 8.2% FCF margin (TTM), FY24 Q3: 9.8% FCF margin (TTM), FY24 Q4: 9.2% FCF margin (TTM), FY25 Q1: 7.9% FCF margin (TTM), FY25 Q2: 6.6% FCF margin (TTM), FY25 Q3: 6.0% FCF margin (TTM), FY25 Q4: 7.7% FCF margin (TTM), FY26 Q1: 5.9% FCF margin (TTM), FY26 Q2: 3.8% FCF margin (TTM), FY26 Q3: 5.5% 5.5%

Source: SEC EDGAR filings. Retrieved November 2, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 9.4%
FY24 Q1 8.5%
FY24 Q2 8.2%
FY24 Q3 9.8%
FY24 Q4 9.2%
FY25 Q1 7.9%
FY25 Q2 6.6%
FY25 Q3 6.0%
FY25 Q4 7.7%
FY26 Q1 5.9%
FY26 Q2 3.8%
FY26 Q3 5.5%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 782 1,463 2,566 2,723 2,716 3,182 1,891 916 2,357 3,327 2,471 1,124 1,357 2,648 4,146 5,378 4,827 4,838
Operating income −48 201 526 497 322 283 −407 −456 −293 −322 −462 −892 −678 211 352 −890 −41 42
Net income −38 117 322 297 188 163 −294 −319 6 −321 −426 −804 −655 155 246 −968 −94 −25
Diluted EPS −$0.25 $0.76 $2.06 $1.96 $1.28 $1.11 −$2.00 −$2.18 $0.03 −$1.47 −$2.10 −$4.27 −$3.36 $0.70 $0.88 −$2.44 −$0.24 −$0.07
Growth (year on year)
Revenue −62.1% +87.1% +75.4% +6.1% −0.3% +17.2% −40.6% −51.6% +157.3% +41.2% −25.7% −54.5% +20.7% +95.1% +56.6% +29.7% −10.3% +0.0%
Operating income −108.8% — +161.6% −5.4% −35.2% −12.1% −243.7% — — — — — — — +66.8% −352.8% — —
Net income −111.0% — +175.7% −7.9% −36.7% −13.5% −281.0% — — — — — — — +59.2% −493.0% — —
Diluted EPS −111.2% — +171.1% −4.9% −34.7% −13.3% −280.2% — — — — — — — +25.7% −377.3% — —
Margins
Operating margin −6.2% 13.7% 20.5% 18.3% 11.9% 8.9% −21.5% −49.8% −12.4% −9.7% −18.7% −79.4% −49.9% 8.0% 8.5% −16.5% −0.8% 0.9%
Net margin −4.9% 8.0% 12.6% 10.9% 6.9% 5.1% −15.6% −34.8% 0.3% −9.7% −17.2% −71.5% −48.2% 5.8% 5.9% −18.0% −1.9% −0.5%
Free-cash-flow margin 0.1% −14.5% −5.6% 1.2% 8.3% −10.2% 13.5% 20.2% −11.3% 2.7% 14.1% 11.9% −5.2% 4.9% 9.4% 9.2% 7.7% 5.5%
Cash flow
Cash from operations 454 526 869 1,005 889 729 999 305 301 731 696 279 95 566 1,006 1,176 961 818
Capital spending 453 738 1,012 974 662 1,052 744 120 567 641 348 145 166 437 616 678 589 552
Free cash flow 1 −212 −143 31 226 −324 256 185 −266 89 349 133 −71 129 390 497 372 266
Stock-based pay 18 17 21 23 26 27 29 28 44 38 39 27 22 21 47 46 39 33
Free cash flow after stock pay −17 −229 −164 8 201 −351 227 157 −311 51 309 107 −92 108 343 451 333 233
Balance sheet
Cash 50 28 24 111 250 43 113 35 43 245 174 225 118 138 190 239 419 337
Total debt 0 399 503 699 693 986 855 600 868 1,125 975 909 859 836 1,246 1,234 1,227 1,245
Net debt (negative = net cash) −50 371 479 588 443 942 742 565 825 880 801 684 741 699 1,056 995 809 908
Diluted shares 152m 153m 155m 152m 145m 145m 145m 146m 200m 219m 203m 188m 195m 219m 280m 397m 383m 381m
Returned to shareholders
Dividends 31 31 31 30 29 58 59 24 16 31 32 19 16 43 100 127 122 144
Buybacks 2 2 4 170 74 14 8 4 7 162 255 21 6 70 201 290 70 34
Total returned 32 33 35 201 103 72 67 27 23 192 288 40 22 113 301 417 192 178

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

4 of 7 checks passed · September 30, 2026
What it owns · $5.5bn
Short-term assets $1.5bnLonger-term assets $3.9bn
What it owes, and who funded it · $5.4bn
Short-term liabilities $877mLonger-term liabilities $1.5bnShareholders' equity $3.1bn
  • Short-term assets cover short-term liabilities $1.5bn of assets due within a year against $877m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $1.5bn short-term assets against $1.5bn of longer-dated liabilities.
  • More cash than debt $337m of cash against $1.2bn of debt.
  • Debt below 40% of shareholders' equity Debt is 40% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 54% to 40% over five years.
  • A year's operating cash flow covers at least 20% of debt $818m of operating cash flow against $1.2bn of debt.
  • Operating profit covers interest at least five times over Operating income of $42m against $76m of interest.

From Patterson UTI Energy Inc's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q3 TTM
Buybacks (TTM)
$33.9M
Dividends (TTM)
$144M
Returned to shareholders
67%
of free cash flow
Buybacks, last 3 fiscal years
$561M
Diluted share count
−1.3%
year over year
Total shareholder yield
4.0%
dividends 3.2% + buybacks 0.8% of market value
Sales & admin spending
5.3%
of revenue
Days sales outstanding
71 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in oil & gas drilling
Last 12 months unless stated PTEN HP NE SDRL PDS BORR Median
Revenue, last 12 months $4.8bn $4.0bn $3.0bn $1.5bn $1.3bn $1.0bn $2.3bn
Revenue growth, last 12 months 0.0% 16.6% −13.0% 13.1% −5.0% 1.0% 0.5%
Revenue growth, 3-year average 13.0% 12.0% 5.3% — — — 12.0%
Revenue growth, latest quarter 14.1% −0.6% −8.7% 19.1% — — 6.8%
Operating margin 0.9% 2.3% 12.0% 7.8% 31.5% 31.6% 9.9%
Operating margin, 3-year average −4.5% 7.3% 16.3% −151.2% — <−999% −4.5%
Net margin −0.5% −3.4% 1.8% 0.1% 0.1% 4.4% 0.1%
Cash from operations / revenue 16.9% 14.5% 25.0% −3.4% 22.4% 24.7% 19.7%
Free-cash-flow margin 5.5% 7.9% 3.2% −21.0% 8.1% 16.0% 6.7%
Free-cash-flow margin, 3-year average 7.1% 5.8% 7.6% −32.1% 5.3% <−999% 5.5%
Stock pay / revenue 0.7% 0.9% 1.0% 1.1% — 1.1% 1.0%
Change in share count −1.3% 0.5% −0.8% −2.3% −6.3% 4.0% −1.1%

Median of all 6 companies we cover in oil & gas drilling. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

6 oil & gas drilling companies
Measure Company Peer median Rank
Revenue growth Growth 0.0% 1.0% 4 of 6
Change in growth rate Growth +6.9pp -1.7pp 1 of 6
Operating margin Profitability 0.9% 7.8% 5 of 5
Net margin Profitability -0.5% 0.1% 5 of 6
Free-cash-flow margin Cash generation 5.5% 7.9% 4 of 6
Stock pay as % of revenue Cash generation 0.7% 1.0% 1 of 5
Long-term debt as % of assets Balance sheet 22.6% 26.4% 2 of 6
Change in share count Balance sheet -1.3% -0.8% 3 of 6
Days sales outstanding Balance sheet 71 days 73 days 2 of 5

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue Share YoY
Completion Services $2.9B 59.9% ▼ 10.5%
Drilling Services $1.6B 32.3% ▼ 9.8%
Drilling Products $344M 7.1% ▼ 2.3%
Other $33M 0.7% ▼ 49.7%
Geography
Region Revenue Share YoY
United States $4.7B 97.2% ▼ 10.7%
Other Non US Countries $75.1M 1.6% ▼ 9.5%
Canada $34.7M 0.7% ▲ 3.7%
CO $27.6M 0.6% ▲ 125.4%

From Patterson UTI Energy Inc's 10-K filed February 10, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$3.9B
Institutions reporting
431
Shares held vs prior quarter
▲ 1.0%
Positions opened / closed
74 / 56

Top buyers and sellers, Q2 2026: 250 institutions bought and 168 sold ; the biggest buyer was Encompass Capital Advisors LLC (+5.9M shares) and the biggest seller Blackstone Inc (−5.0M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $577M 62.9M 14.7% ▲ 3.3%
Vanguard Portfolio Management LLC $250M 27.2M 6.3% ▲ 0.5%
Dimensional Fund Advisors LP $209M 22.8M 5.3% ▲ 7.4%
Vanguard Capital Management LLC $153M 16.7M 3.9% ▲ 0.4%
Goldman Sachs Group Inc $150M 16.3M 3.8% ▲ 7.3%
American Century Companies Inc $149M 16.2M 3.8% ▼ 1.0%
State Street Corp $139M 15.1M 3.5% ▲ 0.7%
Sourcerock Group LLC $134M 14.6M 3.4% ▼ 10.8%
Invesco Ltd. $119M 12.9M 3.0% ▼ 3.3%
Fuller & Thaler Asset Management, Inc. $109M 11.8M 2.8% ▼ 3.5%
Geode Capital Management, LLC $95.4M 10.4M 2.4% ▲ 17.8%
Principal Financial Group Inc $82.8M 9.0M 2.1% ▼ 4.5%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Patterson UTI Energy Inc's complete shareholder register. Values are as reported by the filers ; 3 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $33.9M 18 trades by 8 insiders · 9% under pre-set plans
Net ▼ $33.9M net selling
Insider Date Trade Shares Price Value
Hendricks William Andrew Jr President & CEO September 18, 2026 Sell pre-set plan 250,000 $11.91 $3M
Hendricks William Andrew Jr President & CEO September 2, 2026 Sell 250,000 $12.93 $3.2M
Drummond Robert Wayne Jr Director September 2, 2026 Sell 198,395 $12.85 $2.5M
Wexler Seth David EVP, General Counsel&Secretary September 1, 2026 Sell 120,000 $12.75 $1.5M
Drummond Robert Wayne Jr Director September 1, 2026 Sell 1,605 $12.85 $20,624
Stewart James Carl Director August 25, 2026 Sell 207,000 $11.54 $2.4M
Robinson Forrest C Chief Accounting Officer June 8, 2026 Sell 13,670 $12.01 $164,177
Hendricks William Andrew Jr President & CEO June 5, 2026 Sell 200,000 $11.64 $2.3M
Holcomb James Michael EVP & Chief Operating Officer May 28, 2026 Sell 150,000 $11.47 $1.7M
Jaime Cesar Director May 5, 2026 Sell 10,000 $12.29 $122,900
Drummond Robert Wayne Jr Director May 4, 2026 Sell 61,475 $12.02 $738,930
Hendricks William Andrew Jr President & CEO May 1, 2026 Sell 250,000 $11.85 $3M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 15 trades and filings

No trades in Patterson UTI Energy Inc disclosed in the last 12 months; 15 earlier trades on record.

  • Debbie Wasserman Schultz(D-FL 25):Purchase, $1,001 - $15,000, traded October 23, 2024, filed November 20, 2024
  • Josh Gottheimer(D-NJ 5):Purchase, $1,001 - $15,000, traded January 11, 2024, filed February 15, 2024
  • Josh Gottheimer(D-NJ 5):Sale (partial), $1,001 - $15,000, traded December 11, 2023, filed January 7, 2024

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around February 4, 2027 estimated from the company's past filing pattern, not announced

  • October 29, 2026
  • July 30, 2026
  • April 23, 2026
  • February 5, 2026
  • January 5, 2026
  • October 23, 2025

Recent SEC filings

Data status

When each part of this page on Patterson UTI Energy Inc was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Patterson UTI Energy Inc in brief

What does Patterson UTI Energy Inc do?
Patterson UTI Energy Inc is a US-listed company in the oil & gas drilling industry. Its financial year ends in December.
What is Patterson UTI Energy Inc's stock ticker?
Patterson UTI Energy Inc trades under the ticker PTEN on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Patterson UTI Energy Inc's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Patterson UTI Energy Inc reported revenue of $4.8B, 0.0% higher than a year earlier, according to its SEC filings.
What is Patterson UTI Energy Inc's free cash flow?
Patterson UTI Energy Inc's free-cash-flow margin is 5.5% of revenue over the trailing twelve months, ranking 4 of the 6 oil & gas drilling companies we cover.
What is Patterson UTI Energy Inc's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Patterson UTI Energy Inc's free cash flow after stock-based pay gives ~$19 per share in the base case, and ~$13–$26 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Patterson UTI Energy Inc's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Portfolio Management LLC and Dimensional Fund Advisors LP. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Patterson UTI Energy Inc buying back stock, and does it pay a dividend?
Patterson UTI Energy Inc spent $33.9M on share repurchases over the trailing twelve months, and its diluted share count fell 1.3% over the year.
What is Patterson UTI Energy Inc's market cap?
On November 2, 2026, Patterson UTI Energy Inc's market capitalisation was about $4.5B and net debt of $908M. Market figures come from third-party market data and may be delayed.
Does Patterson UTI Energy Inc pay a dividend?
Yes: Patterson UTI Energy Inc paid $144M in dividends over the trailing twelve months, a dividend yield of 3.23%.
How much debt does Patterson UTI Energy Inc have?
Patterson UTI Energy Inc's debt-to-equity ratio is 40.2%, from its latest balance sheet (54.1% five years earlier). The financial health section below sets out its other solvency checks.
Who are Patterson UTI Energy Inc's competitors?
In our Oil & Gas Drilling peer group, the companies closest to Patterson UTI Energy Inc are Helmerich & Payne, Inc., Noble Corp plc, Seadrill Ltd, Precision Drilling Corp and Borr Drilling Ltd. The side-by-side comparison below sets their revenue, margins and growth against Patterson UTI Energy Inc's.
Are insiders buying or selling Patterson UTI Energy Inc stock?
Over the last 12 months, Patterson UTI Energy Inc's directors and officers reported 0 open-market purchases and 18 sales on Form 4. The insider trading page charts every trade.
When is Patterson UTI Energy Inc's next earnings date?
Around February 4, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Patterson UTI Energy Inc announces its own schedule.