Borrowing rising faster than profit.Since FY Sep 2022 (an unusually weak year for operating profit): debt +280%, operating profit −93%.Since FY Sep 2022: debt +280%, operating profit −93%.
Helmerich & Payne's debt grew 280% since FY Sep 2022 while operating profit changed −93%.
Valuation signals disagree. Cheaper than 65% of peers on free cash flow, but only 0% on earnings.
Relative to its free cash flow, Helmerich & Payne looks cheaper than 65% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.
Sales growing faster than profits.Since FY Sep 2022 (an unusually weak year for operating profit): revenue +82%, operating profit −93%.Since FY Sep 2022: revenue +82%, operating profit −93%.
Since FY Sep 2022, Helmerich & Payne's revenue changed +82% while operating profit fell 93%: costs rose faster than sales.
Share count shrinking. Shares outstanding down 5.1% from September 2022 to July 2026.
Helmerich & Payne had 5.1% fewer shares at July 2026 than at September 2022, mainly through buybacks, so each remaining share owns a larger slice of the business.
Since last quarter: No major changeValuation also moves with the share price every day.
Why it changed since the Oct 27, 2026 close: Score 47 → 46
Share price -4.6%+4
Company's reported figures updated-2
Peer companies moved-3
Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.
Sector-normalized EBITDA, earnings, and free cash flow yields.
Earnings yield-3.6%
SEC filings · 12 months to Jun 2026Negative (a loss or cash outflow), so it counts as zero whatever the share price30% base weight · Z-score -1.49Sector median: 0.0522 · MAD: 0.0351
EBITDA yield15.2%
SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score 0.60Sector median: 0.1209 · MAD: 0.0518
Free cash flow yield8.3%
SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score 0.44Sector median: 0.0618 · MAD: 0.0491
Why it changed since the Oct 27, 2026 close: Score 12 → 13
Peer companies moved+1
Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.
Why it changed since the Oct 27, 2026 close: Safety percentile 54 → 55
Peer companies moved+1
Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.
Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.
Questions investors ask about Helmerich & Payne
Is Helmerich & Payne getting weaker?
Its latest SEC filing (Aug 6, 2026) got stronger: operating margin rose 7.9 points to 2.3%. Its overall score is unchanged at 45/100 since Oct 28, 2026.
How is Helmerich & Payne valued vs its peers?
Priced about in line with its peers. Valuation scores 46/100 against 404 energy peers.Free cash flow yield 8.3% vs a peer median of 6.2% (stronger than 65% of peers).Free cash flow yield 8.3% vs peers 6.2% (stronger than 65% of peers).Earnings yield -3.6% vs a peer median of 5.2% (weaker than 100% of peers).Earnings yield -3.6% vs peers 5.2% (weaker than 100% of peers).
Is Helmerich & Payne growing?
Yes, faster than most of its peers. Growth scores 65/100 against 404 energy peers.3-year revenue growth 12.0% vs a peer median of -1.3% (stronger than 83% of peers).3-year revenue growth 12.0% vs peers -1.3% (stronger than 83% of peers).
How profitable is Helmerich & Payne?
Less profitable than most of its peers. Profitability scores 13/100 against 404 energy peers.Return on assets -2.2% vs a peer median of 4.4% (weaker than 89% of peers).Return on assets -2.2% vs peers 4.4% (weaker than 89% of peers).
How risky is Helmerich & Payne?
Moderate risk relative to 404 energy peers, judged on debt, liquidity and share-price swings.Current ratio 1.96× vs a peer median of 1.37× (stronger than 72% of peers).Current ratio 1.96× vs peers 1.37× (stronger than 72% of peers).Beta 0.69 vs a peer median of 0.57 (weaker than 62% of peers).Beta 0.69 vs peers 0.57 (weaker than 62% of peers). A relative measure, not a bankruptcy probability.
Latest filing: what changed
Quarter ended Jun 30, 2026 · filed Aug 6, 2026 · compared with the quarter ended Mar 31, 2026
Got stronger
Operating margin rose 7.9 points to 2.3%
Worth watching: Helmerich & Payne is in the bottom fifth of its sector on profitability. From 2021 to 2025, 63% of companies in that position posted a loss over the following year, against 4% for the top fifth.
Previous quarter
Latest quarter
Change
Revenue (12 months)
4.0B USD
4.0B USD
−0.2%
Net income (12 months)
−375.4M USD
−137.0M USD
−63.5%
Operating margin
-5.7%
2.3%
+7.9 pts
Free cash flow (12 months)
256.0M USD
315.3M USD
+23.2%
Debt
2.0B USD
1.9B USD
−7.0%
Cash
177.2M USD
204.4M USD
+15.4%
Shares outstanding
99.9M
99.9M
+0.0%
From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.
Industry valuation context
Sector: Energy · 117 companies
Valuations in Energy are above their usual range since 2016.
71% of months since 2016 were valued lower than now.
41% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +37% and earnings +10% (medians): prices rose faster than earnings.
Median price-to-sales is −30% vs the whole market, against a usual −35%.
2016Shaded: most expensive fifth of its range2026
Shown for Energy: too few Oil & Gas Drilling companies have a long enough history of their own.
This is a cyclical group: after a downturn, trailing earnings and sales fall faster than prices, which can make valuations look high near a cycle's low.
Describes valuations since 2016; it does not predict prices. US companies worth $1B+, from SEC filings and month-end prices, as of Aug 2026. Today's companies and industry labels are used throughout. Measured on earnings, EBITDA, sales and free cash flow yields. How this works
Financials
Fiscal years from SEC annual filings · change vs the prior year
Key ratios
FY Sep 2021
FY Sep 2022
FY Sep 2023
FY Sep 2024
FY Sep 2025
Change
Operating margin
-35.2%
2.2%
19.8%
16.6%
0.1%
▼ 17 pts
Net margin
-26.8%
0.3%
15.1%
12.5%
-4.4%
▼ 17 pts
Return on assets (ROA)
-6.5%
0.2%
9.9%
6.0%
-2.4%
▼ 8.4 pts
Return on equity (ROE)
-11.2%
0.3%
15.7%
11.8%
-5.8%
▼ 18 pts
Free cash flow margin
4.5%
-0.8%
15.3%
6.9%
3.1%
▼ 3.8 pts
Current ratio
1.83×
2.54×
2.40×
2.67×
1.80×
▼ 33%
Quick ratio
1.73×
2.32×
2.18×
2.40×
1.40×
▼ 42%
Debt to equity
0.35×
0.20×
0.20×
0.61×
0.73×
▲ 19%
Interest coverage
-17.89×
2.36×
32.88×
15.72×
0.03×
▼ 100%
HP price history
Price history is added with the daily price update and will appear after the next one.