Helmerich Financials
This page shows Helmerich (HP) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Recent revenue growth has been swallowed by a much heavier asset and financing base, leaving incremental sales with little profit.
From FY2023 to FY2025, operating margin fell from19.8% to0.1% . Even with revenue at$3.75B , operating cash flow was only$543M , which suggests the larger business is no longer enjoying the same rebound economics and now needs more spending and balance-sheet support to produce each dollar of sales.
This remains an asset-heavy model: depreciation reached
The balance sheet has shifted from light leverage to a more debt-backed posture, with debt to equity moving from 0.2x in FY2023 to 0.7x in FY2025. Liquidity is still decent at 1.8x current ratio, but cash of
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Helmerich's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Helmerich has an operating margin of 0.1%, meaning the company retains $0 of operating profit per $100 of revenue. This results in a moderate score of 42/100, indicating healthy but not exceptional operating efficiency. This is down from 16.6% the prior year.
Helmerich's revenue surged 35.9% year-over-year to $3.7B, reflecting rapid business expansion. This strong growth earns a score of 57/100.
Helmerich carries a low D/E ratio of 0.73, meaning only $0.73 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 87/100, indicating a strong balance sheet with room for future borrowing.
Helmerich's current ratio of 1.80 indicates adequate short-term liquidity, earning a score of 32/100. The company can meet its near-term obligations, though with limited headroom.
Helmerich has a free cash flow margin of 3.1%, earning a moderate score of 42/100. The company generates positive cash flow after capital investments, but with room for improvement.
Helmerich generates a -5.8% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 20/100. This is down from 11.8% the prior year.
Helmerich scores 1.82, placing it in the grey zone between 1.81 and 2.99. This signals moderate financial risk that warrants monitoring.
Helmerich passes 5 of 9 financial strength tests. 2 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Helmerich generates $-3.32 in operating cash flow ($543.0M OCF vs -$163.7M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Helmerich earns $0.0 in operating income for every $1 of interest expense ($3.3M vs $107.8M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Helmerich generated $3.7B in revenue in fiscal year 2025. This represents an increase of 35.9% from the prior year.
Helmerich's EBITDA was $628.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 26.5% from the prior year.
Helmerich reported -$163.7M in net income in fiscal year 2025. This represents a decrease of 147.6% from the prior year.
Helmerich earned $-1.66 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 148.4% from the prior year.
Cash & Balance Sheet
Helmerich generated $116.6M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 38.5% from the prior year.
Helmerich held $196.8M in cash against $2.1B in long-term debt as of fiscal year 2025.
Helmerich paid $0.25 per share in dividends in fiscal year 2025. This represents an increase of 0.0% from the prior year.
Helmerich had 98M shares outstanding in fiscal year 2025. This represents a decrease of 0.3% from the prior year.
Margins & Returns
Helmerich's gross margin was 33.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 8.1 percentage points from the prior year.
Helmerich's operating margin was 0.1% in fiscal year 2025, reflecting core business profitability. This is down 16.5 percentage points from the prior year.
Helmerich's net profit margin was -4.4% in fiscal year 2025, showing the share of revenue converted to profit. This is down 16.9 percentage points from the prior year.
Helmerich's ROE was -5.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 17.6 percentage points from the prior year.
Capital Allocation
Helmerich invested $34.1M in research and development in fiscal year 2025. This represents a decrease of 16.7% from the prior year.
Helmerich spent $0 on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 100.0% from the prior year.
Helmerich invested $426.4M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 13.9% from the prior year.
HP Income Statement
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $932.4M-8.3% | $1.0B+0.5% | $1.0B-2.8% | $1.0B+2.4% | $1.0B+50.0% | $677.3M-2.4% | $693.8M-0.6% | $697.7M |
| Cost of Revenue | $661.2M-3.2% | $682.8M-1.7% | $694.6M-1.4% | $704.2M+0.4% | $701.7M+70.8% | $410.9M+1.4% | $405.2M-2.3% | $414.9M |
| Gross Profit | $271.2M-18.9% | $334.2M+5.4% | $317.1M-5.8% | $336.7M+7.1% | $314.4M+18.0% | $266.4M-7.7% | $288.6M+2.0% | $282.8M |
| R&D Expenses | $7.0M+5.6% | $6.6M-12.2% | $7.6M-2.7% | $7.8M-17.5% | $9.4M+0.7% | $9.4M+5.3% | $8.9M-15.8% | $10.6M |
| SG&A Expenses | $71.1M+0.9% | $70.4M-9.3% | $77.6M+18.5% | $65.5M-18.9% | $80.8M+28.1% | $63.1M-5.7% | $66.9M+11.2% | $60.2M |
| Operating Income | -$36.9M+38.4% | -$59.9M-3992.3% | -$1.5M+98.9% | -$128.3M-404.2% | $42.2M-53.6% | $90.9M-16.9% | $109.4M-3.6% | $113.5M |
| Interest Expense | $25.8M+0.8% | $25.6M-8.5% | $28.0M-4.2% | $29.2M+3.0% | $28.3M+27.1% | $22.3M+38.3% | $16.1M+271.9% | $4.3M |
| Income Tax | $9.3M-17.0% | $11.2M+278.8% | -$6.3M-121.6% | $29.0M-30.1% | $41.5M+91.5% | $21.6M-47.0% | $40.9M+21.3% | $33.7M |
| Net Income | -$58.6M+39.4% | -$96.7M-68.6% | -$57.4M+64.8% | -$162.8M-9940.3% | $1.7M-97.0% | $54.8M-27.4% | $75.5M-14.9% | $88.7M |
| EPS (Diluted) | $-0.59+39.8% | $-0.98 | N/A | $-1.64-16500.0% | $0.01-98.1% | $0.54 | N/A | $0.88 |
HP Balance Sheet
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $6.3B-1.9% | $6.5B-3.7% | $6.7B-2.3% | $6.9B-5.3% | $7.2B+24.5% | $5.8B+0.6% | $5.8B+28.9% | $4.5B |
| Current Assets | $1.5B+0.7% | $1.5B-0.2% | $1.5B-1.7% | $1.5B-0.2% | $1.5B+21.9% | $1.2B+2.7% | $1.2B+22.9% | $970.3M |
| Cash & Equivalents | $177.2M-28.3% | $247.2M+25.6% | $196.8M+18.5% | $166.1M-5.0% | $174.8M-55.3% | $391.2M+80.0% | $217.3M+6.7% | $203.6M |
| Inventory | $330.5M+1.8% | $324.8M+0.2% | $324.3M-1.7% | $330.0M+2.6% | $321.6M+152.7% | $127.3M+8.0% | $117.9M+2.2% | $115.3M |
| Accounts Receivable | N/A | N/A | $752.8M | N/A | N/A | N/A | $418.6M | N/A |
| Goodwill | $183.8M+0.7% | $182.6M-0.2% | $182.9M+9.8% | $166.6M-51.6% | $343.8M+653.1% | $45.7M0.0% | $45.7M0.0% | $45.7M |
| Total Liabilities | $3.7B-1.3% | $3.8B-3.1% | $3.9B-3.0% | $4.0B-4.6% | $4.2B+46.0% | $2.9B+0.2% | $2.9B+76.0% | $1.6B |
| Current Liabilities | $863.3M+19.6% | $721.9M-11.4% | $814.8M+0.6% | $809.8M-8.8% | $887.6M+103.7% | $435.7M-2.5% | $446.9M-2.2% | $456.8M |
| Long-Term Debt | $1.9B-8.4% | $2.0B-1.5% | $2.1B-5.8% | $2.2B-2.2% | $2.2B+25.4% | $1.8B0.0% | $1.8B+226.7% | $545.6M |
| Total Equity | $2.6B-2.7% | $2.7B-4.5% | $2.8B-1.3% | $2.9B-6.1% | $3.1B+3.6% | $2.9B+1.0% | $2.9B+2.1% | $2.9B |
| Retained Earnings | $2.4B-3.4% | $2.5B-4.7% | $2.6B-3.1% | $2.7B-6.5% | $2.9B-0.8% | $2.9B+1.0% | $2.9B+1.8% | $2.8B |
HP Cash Flow Statement
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $36.6M-79.9% | $182.4M-11.8% | $206.9M+70.2% | $121.6M+117.0% | $56.0M-64.6% | $158.4M-6.2% | $168.8M-14.5% | $197.4M |
| Capital Expenditures | $62.9M-7.0% | $67.6M+5.3% | $64.1M-33.9% | $97.0M-38.9% | $158.7M+49.1% | $106.5M+0.5% | $106.0M-21.1% | $134.4M |
| Free Cash Flow | -$26.3M-122.9% | $114.9M-19.6% | $142.8M+480.6% | $24.6M+124.0% | -$102.7M-298.0% | $51.9M-17.4% | $62.8M-0.4% | $63.0M |
| Investing Cash Flow | -$54.0M+7.3% | -$58.3M-10.3% | -$52.8M+7.3% | -$57.0M+96.9% | -$1.9B-3648.2% | $52.7M+150.3% | -$104.8M+19.1% | -$129.5M |
| Financing Cash Flow | -$58.3M+16.5% | -$69.8M+54.7% | -$154.0M-70.2% | -$90.5M-126.3% | $344.3M+1138.5% | -$33.1M-102.8% | $1.2B+2561.5% | -$48.0M |
| Dividends Paid | $25.4M+0.7% | $25.2M+0.1% | $25.2M0.0% | $25.2M-0.4% | $25.3M+1.1% | $25.0M-40.5% | $42.0M0.0% | $42.0M |
| Share Buybacks | N/A | N/A | $0 | $0 | $0 | $0 | $0 | $0 |
HP Financial Ratios
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 29.1%-3.8pp | 32.9%+1.5pp | 31.4%-1.0pp | 32.4%+1.4pp | 30.9%-8.4pp | 39.3%-2.3pp | 41.6%+1.1pp | 40.5% |
| Operating Margin | -4.0%+1.9pp | -5.9%-5.8pp | -0.1%+12.2pp | -12.3%-16.5pp | 4.2%-9.3pp | 13.4%-2.3pp | 15.8%-0.5pp | 16.3% |
| Net Margin | -6.3%+3.2pp | -9.5%-3.8pp | -5.7%+10.0pp | -15.6%-15.8pp | 0.2%-7.9pp | 8.1%-2.8pp | 10.9%-1.8pp | 12.7% |
| Return on Equity | -2.2%+1.3pp | -3.6%-1.6pp | -2.0%+3.7pp | -5.7%-5.7pp | 0.1%-1.8pp | 1.9%-0.7pp | 2.6%-0.5pp | 3.1% |
| Return on Assets | -0.9%+0.6pp | -1.5%-0.6pp | -0.9%+1.5pp | -2.4%-2.4pp | 0.0%-0.9pp | 0.9%-0.4pp | 1.3%-0.7pp | 2.0% |
| Current Ratio | 1.71-0.3 | 2.03+0.2 | 1.80-0.0 | 1.84+0.2 | 1.68-1.1 | 2.81+0.1 | 2.67+0.5 | 2.12 |
| Debt-to-Equity | 0.71-0.0 | 0.75+0.0 | 0.73-0.0 | 0.76+0.0 | 0.73+0.1 | 0.600.0 | 0.61+0.4 | 0.19 |
| FCF Margin | -2.8%-14.1pp | 11.3%-2.8pp | 14.1%+11.8pp | 2.4%+12.5pp | -10.1%-17.8pp | 7.7%-1.4pp | 9.0%+0.0pp | 9.0% |
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Frequently Asked Questions
What is Helmerich's annual revenue?
Helmerich (HP) reported $3.7B in total revenue for fiscal year 2025. This represents a 35.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Helmerich's revenue growing?
Helmerich (HP) revenue grew by 35.9% year-over-year, from $2.8B to $3.7B in fiscal year 2025.
Is Helmerich profitable?
No, Helmerich (HP) reported a net income of -$163.7M in fiscal year 2025, with a net profit margin of -4.4%.
What is Helmerich's EBITDA?
Helmerich (HP) had EBITDA of $628.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Helmerich have?
As of fiscal year 2025, Helmerich (HP) had $196.8M in cash and equivalents against $2.1B in long-term debt.
What is Helmerich's gross margin?
Helmerich (HP) had a gross margin of 33.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Helmerich's operating margin?
Helmerich (HP) had an operating margin of 0.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Helmerich's net profit margin?
Helmerich (HP) had a net profit margin of -4.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Helmerich pay dividends?
Yes, Helmerich (HP) paid $0.25 per share in dividends during fiscal year 2025.
What is Helmerich's return on equity (ROE)?
Helmerich (HP) has a return on equity of -5.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Helmerich's free cash flow?
Helmerich (HP) generated $116.6M in free cash flow during fiscal year 2025. This represents a -38.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Helmerich's operating cash flow?
Helmerich (HP) generated $543.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Helmerich's total assets?
Helmerich (HP) had $6.7B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Helmerich's capital expenditures?
Helmerich (HP) invested $426.4M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Helmerich spend on research and development?
Helmerich (HP) invested $34.1M in research and development during fiscal year 2025.
What is Helmerich's current ratio?
Helmerich (HP) had a current ratio of 1.80 as of fiscal year 2025, which is generally considered healthy.
What is Helmerich's debt-to-equity ratio?
Helmerich (HP) had a debt-to-equity ratio of 0.73 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Helmerich's return on assets (ROA)?
Helmerich (HP) had a return on assets of -2.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Helmerich's Altman Z-Score?
Helmerich (HP) has an Altman Z-Score of 1.82, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Helmerich's Piotroski F-Score?
Helmerich (HP) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Helmerich's earnings high quality?
Helmerich (HP) has an earnings quality ratio of -3.32x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Helmerich cover its interest payments?
Helmerich (HP) has an interest coverage ratio of 0.0x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Helmerich?
Helmerich (HP) scores 47 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.