RPC, Inc.

Worth knowing

• Buybacks largely absorbed by stock pay. Stock-based pay expense $30M vs $34M spent repurchasing shares over the 3 fiscal years to 2025. Shares outstanding changed +2.3% from December 2022 to July 2026.

  Over three fiscal years RPC recorded $30M of stock-based pay expense and spent $34M repurchasing shares (repurchases can include shares withheld to cover employees' taxes). The share count barely moved (+2.3%), so much of the repurchasing offset new employee shares rather than shrinking the count.Over three fiscal years RPC recorded $30M of stock-based pay expense and spent $34M repurchasing shares. The share count barely moved (+2.3%), so much of the repurchasing offset new employee shares rather than shrinking the count.

• Valuation signals disagree. Cheaper than 71% of peers on operating cash profit (EBITDA), but only 25% on earnings.Cheaper than 71% of peers on operating cash profit, but only 25% on earnings.

  Relative to its operating cash profit (EBITDA), RPC looks cheaper than 71% of peers; relative to its earnings, cheaper than only 25%. The valuation score blends the two, so look at which measure fits this business best.Relative to its operating cash profit, RPC looks cheaper than 71% of peers; relative to its earnings, cheaper than only 25%. The valuation score blends the two, so look at which measure fits this business best.

• Sales growing faster than profits. Since 2022: revenue +1.5%, operating profit −84%.

  Since 2022, RPC's revenue changed +1.5% while operating profit fell 84%: costs rose faster than sales.

• Profit is backed by cash. Free cash flow is 171% of reported profit.

  RPC's free cash flow is 171% of its reported profit, so its earnings are turning into cash it can reinvest, pay out or use to reduce debt.