HP
Helmerich & Payne, Inc.
$38.18
-0.05% 2026-10-20
EnergyS&P 600
HPSPY
1W
-2.3%
1M
-6.7%
3M
+11.0%
6M
+8.4%
YTD
+35.8%
1Y
+66.6%
Live chart
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Grades vs sector
Momentum67th pct in sectorB
Momentum
67th pct in sector
12-1 return: +45.5%
Percentile within its GICS sector across the S&P 1500.
Percentile within its GICS sector across the S&P 1500.
Growth17th pct in sectorD
Growth
17th pct in sector
Revenue growth (YoY): -0.6%
Percentile within its GICS sector across the S&P 1500.
Percentile within its GICS sector across the S&P 1500.
Value40th pct in sectorC-
Value
40th pct in sector
Forward E/P: 4.2% · EBITDA/EV: 15.1%
Percentile within its GICS sector across the S&P 1500.
Percentile within its GICS sector across the S&P 1500.
Profitability8th pct in sectorF
Profitability
8th pct in sector
Profit margin: -3.4% · Return on equity: -4.6%
Percentile within its GICS sector across the S&P 1500.
Percentile within its GICS sector across the S&P 1500.
RevisionsNot enough data yet–
Revisions
Not enough data yet
EPS estimate change, 30 days (current FY): –
30-day change in analysts' current-year EPS estimate; graded across covered stocks.
30-day change in analysts' current-year EPS estimate; graded across covered stocks.
Our models
Not held by any of our 5 live models right now.
Quality Growth
not ranked (outside this model's universe or screens)
Momentum Top 15not ranked (outside this model's universe or screens)
Momentum Blendnot in the current book
New Highs Growthnot ranked (outside this model's universe or screens)
Conviction 20not in the current book
News
More newsHelmerich & Payne, Inc. Schedules Fiscal Fourth Quarter 2026 and Year End Conference Call and Webcast
Business Wire · Oct 14
Are Investors Undervaluing Helmerich & Payne (HP) Right Now?
Zacks · Oct 13
2 Reasons to Watch HP and 1 to Stay Cautious
StockStory · Oct 12
Helmerich & Payne Positioned for Steady Demand, Geothermal Growth, RBC Says
MT Newswires · Oct 12
UBS Adjusts Price Target on Helmerich & Payne to $50 From $49, Maintains Buy Rating
MT Newswires · Oct 12
Key stats
Market cap$3.8B
P/E (trailing)–
P/E (forward)24.5
52-week range23.20 – 48.17
Revenue growth (YoY, latest qtr)-0.6%
Dividend yield2.62%
Analyst consensusBuy (16)
Mean price target$45.44 (+19%)
Valuation and fundamentals
Valuation & fundamentals
Bottom line
Leans undervalued
Model read-out from the numbers below, not advice. Score +2 (DCF counts double).
▲DCF (base case)above the price by 185%
▼Forward P/E vs sector24.5x vs median 13.6x
•Piotroski F-score5/9
•Altman Z2.4 (grey)
•Net debt / EBITDA2.0x
▲Analyst target+19% (16 analysts)
Discounted cash flow
CyclicalValued on average-cycle margins
Oil & Gas Drilling profits swing with the business cycle, so one year's cash flow can be far above or below normal. Instead of the last 12 months' free cash flow (0.3B, a 8% margin), the DCF and reverse DCF use the average free-cash-flow margin over FY2016–FY2025 (10 years: 9.8%) times current revenue = 0.4B. On trailing cash flow the base case would be $84; on mid-cycle cash flow it is $109. Glossary
Bear
$58
+51%
growth 6% · disc. 8.7% · term. 2.0%
Base
$109
+185%
growth 11% · disc. 7.7% · term. 2.5%
Bull
$191
+401%
growth 14% · disc. 6.7% · term. 3.0%
Starting cash flow is mid-cycle: 9.8% average margin × current revenue = 0.4B (last 12 months: 0.3B at a 8% margin). On trailing cash flow the base case would be $84.
Reverse DCFfor context, not a signal
A normal DCF guesses future cash flows and works out a price. A reverse DCF runs it backwards: it starts from today's price and asks how fast free cash flow would have to grow to justify it. It tells you what the market is assuming, not whether the stock is cheap or expensive, and it is not a buy or sell signal. Glossary
Today's price implies shrinking cash flows: about -2% a year for 10 years.
Implied
-2%/yr
FCF, last 3 yrs
n/a
FCF, last 5 yrs
-22%/yr
Revenue, last 3 yrs
+22%/yr
Revenue, last 5 yrs
+16%/yr
Same inputs as the DCF above: mid-cycle free cash flow 0.4B, 7.7% discount rate, 2.5% growth after year 10, net debt and today's share count. Actual growth rates are compound annual rates from SEC annual filings through FY2025; "n/a" means too little history or a negative starting year.
Edit assumptions · recalculates instantly
Your value per share–
Free cash flow = operating cash flow − capital spending, trailing 12 months (TTM to 2026-06-30). Growth default: average of 3-year revenue CAGR and latest revenue growth, capped at 30%. Years 6–10 fade linearly to terminal growth. Discount rate = 4.25% risk-free assumption + beta 0.69 × 5% equity premium, kept within 7–13%. Bear: lower growth, +1 pt discount, 2% terminal. Bull: higher growth, −1 pt, 3%.
Multiples vs Energy
P/E (trailing)
sector median 17.7×
–Forward P/E
pricier
sector median 13.6× · 89th pct
24.5×pricier
EV / EBITDA
cheaper
sector median 8.1× · 35th pct
6.6×cheaper
Price / sales
cheaper
sector median 2.2× · 17th pct
1.0×cheaper
Price / book
cheaper
sector median 1.9× · 20th pct
1.3×cheaper
FCF yield
cheaper
sector median 7.7% · 54th pct
8.3%cheaper
Forward EPS $1.56 vs trailing $-1.39. Forward P/E uses analysts' next-12-month estimate.
Backlog (remaining performance obligations)
RPO
$6.1B
as of 2026-06-30
vs a year ago
+13%
YoY
× TTM revenue
1.53×
coverage
Contracted revenue not yet recognized, from SEC filings (XBRL tag RevenueRemainingPerformanceObligation).
Quality & financial health
Gross margin
–
Operating margin
2.3%
FCF margin
7.9%
Net margin
-3.4%
Return on equity
-4.6%
Return on invested capital
1.6%
Net debt / EBITDA
2.0×
Current ratio
2.0×
Interest cover
0.9×
Cash conversion (OCF/NI)
–
Piotroski F-score 5/9 · last two fiscal years
✗ Positive net income✓ Positive operating cash flow✗ Return on assets improved✓ Cash flow above net income✓ Long-term debt / assets fell✗ Current ratio improved✓ No share dilution✗ Gross margin improved✓ Asset turnover improved
Altman Z-score 2.4 (grey zone; above 3.0 = safe, below 1.8 = distress). Not meaningful for banks and insurers.
Analysts
Mean target
$45
+19%
Analysts
16
Buy
Range
$32–$51
low – high
● price · ◆ mean target
Annual history
| FY | Revenue | Net income | Free cash flow |
|---|---|---|---|
| 2025 | $3.7B | $-163.7M | $116.6M |
| 2024 | $2.8B | $344.2M | $189.6M |
| 2023 | $2.9B | $434.1M | $438.2M |
| 2022 | $2.1B | $7.0M | $-17.0M |
| 2021 | $1.2B | $-326.1M | $54.3M |
| 2020 | $1.8B | $-494.5M | $398.1M |
From the company's 10-K filings via SEC XBRL. 3-year revenue CAGR +22.1%.
Earnings
Next report: 2026-11-18 · during market · EPS est 0.26
EstimateActual (beat)Actual (miss)
| Report | EPS est | Actual | Surprise |
|---|---|---|---|
| 2026-08-05 | 0.10 | -0.11 | -210.5% |
| 2026-05-06 | -0.04 | -0.38 | -840.4% |
| 2026-02-04 | 0.11 | -0.15 | -241.9% |
| 2025-11-17 | 0.26 | -0.01 | -103.8% |
| 2025-08-06 | 0.21 | 0.22 | +3.1% |
| 2025-05-07 | 0.62 | 0.02 | -96.8% |
| 2025-02-05 | 0.67 | 0.71 | +5.3% |
| 2024-11-13 | 0.82 | 0.76 | -7.2% |
Quarterly revenue
| Quarter | Revenue | YoY |
|---|---|---|
| 2026-06-30 | $1.0B | -0.6% |
| 2026-03-31 | $932.4M | – |
| 2025-12-31 | $1.0B | – |
| 2025-09-30 | $1.0B | – |
| 2025-06-30 | $1.0B | – |
Analyst actions
UBS
PT $50
2026-10-12 · main
Buy → BuyPT $50
Barclays
PT $51
2026-10-12 · main
Overweight → OverweightPT $51
Susquehanna
PT $50
2026-10-05 · main
Positive → PositivePT $50
RBC Capital
PT $49
2026-09-10 · main
Sector Perform → Sector PerformPT $49
Citigroup
PT $48
2026-09-04 · main
Neutral → NeutralPT $48
Morgan Stanley
PT $41
2026-08-20 · main
Underweight → UnderweightPT $41
Recent dividends
2026-08-18: $0.250 · 2026-05-18: $0.250 · 2026-02-13: $0.250 · 2025-11-18: $0.250 · 2025-08-15: $0.250 · 2025-05-15: $0.250 · 2025-02-14: $0.250 · 2024-11-18: $0.250
Insider trades
Lennox Michael
$450.0K
EVP, WESTERN HEMISPHERE LAND · 2026-09-01
SELL$450.0K
Helmerich Hans
$1.1M
Director · 2026-08-20
SELL$1.1M
Helmerich Hans
$2.9M
Director · 2026-08-20
SELL$2.9M
Helmerich Hans
$196.2K
Director · 2026-08-20
SELL$196.2K
Hair Cara M.
$493.6K
SVP, CORP. SERVICES & CLO · 2026-08-17
SELL$493.6K
Momper Sara Marie
$223.8K
VP, CAO · 2026-08-14
SELL$223.8K
Lennox Michael
$200.0K
EVP, WESTERN HEMISPHERE LAND · 2026-08-10
SELL$200.0K
Lennox Michael
$175.0K
EVP, WESTERN HEMISPHERE LAND · 2026-07-22
SELL$175.0K
None
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None · None
SELL–
None
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None · None
SELL–
None
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None · None
SELL–
Stats refreshed 2026-10-20 18:09:19 ET from Yahoo Finance (yfinance). "–" means the data isn't available. Refresh now
coteau
Coteau Systematic Strategies publishes stock research and model portfolios. It doesn't manage money or give investment advice. Results are hypothetical unless marked Live. Data: Yahoo Finance (delayed) and SEC EDGAR.