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Patterson-UTI Energy, Inc.

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Patterson-UTI Energy, Inc. • NASDAQ
$5.80 ▲ 2.11% (+0.12)
Market Cap $2.24 B
52w High $9.57
52w Low $5.10
Dividend Yield 0.32%
P/E -15.68
Volume 2.94M
Outstanding Shares 386.02M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.176B ▼ $84.577M ▲ $-36.402M ▲ -3.096% ▲ $-0.095 ▲ $200.044M ▼
Q2-2025 $1.219B ▼ $57.585M ▼ $-49.144M ▼ -4.03% ▼ $-0.13 ▼ $232M ▼
Q1-2025 $1.281B ▲ $70.312M ▼ $1.005M ▲ 0.078% ▲ $0.003 ▲ $252.243M ▲
Q4-2024 $1.162B ▼ $79.212M ▼ $-51.582M ▲ -4.439% ▲ $-0.13 ▲ $222.859M ▲
Q3-2024 $1.357B $961.264M $-978.761M -72.115% $-2.5 $-615.92M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $184.783M ▲ $5.533B ▼ $2.278B ▲ $3.249B ▼
Q2-2025 $183.768M ▼ $5.576B ▼ $2.227B ▼ $3.342B ▼
Q1-2025 $223.087M ▼ $5.765B ▼ $2.33B ▼ $3.427B ▼
Q4-2024 $239.182M ▲ $5.833B ▼ $2.358B ▼ $3.466B ▼
Q3-2024 $115.482M $5.964B $2.392B $3.562B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-36.45M ▲ $215.803M ▲ $-147.634M ▼ $-65.854M ▼ $1.022M ▲ $71.324M ▲
Q2-2025 $-48.697M ▼ $139.749M ▼ $-124.703M ▲ $-53.847M ▲ $-39.313M ▼ $-4.457M ▼
Q1-2025 $1.29M ▲ $208.141M ▼ $-164.504M ▼ $-58.873M ▲ $-16.089M ▼ $46.31M ▼
Q4-2024 $-50.377M ▲ $315.834M ▲ $-129.929M ▲ $-63.66M ▲ $125.811M ▲ $175.484M ▲
Q3-2024 $-978.334M $296.289M $-175.311M $-78.794M $40.446M $115.702M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Completion Services
Completion Services
 $650.00M ▲$770.00M ▲$720.00M ▼$710.00M ▼
Drilling Products
Drilling Products
 $0 ▲$90.00M ▲$90.00M ▲$90.00M ▲
Drilling Services
Drilling Services
 $410.00M ▲$410.00M ▲$400.00M ▼$380.00M ▼
Other
Other
 $0 ▲$20.00M ▲$10.00M ▼$0 ▼

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown strongly over the past several years, showing that Patterson‑UTI has been able to win more work and benefit from the recovery in drilling and completion activity. Profitability, however, has been uneven. After years of losses, the company returned to profitability in the middle of the period but slipped back into a notable loss in the most recent year despite record sales. That pattern suggests rising costs, pricing pressure, integration expenses, or other one‑off items weighing on margins. Overall, this is a business with clear top‑line momentum but still-choppy bottom‑line performance, reflecting both industry cyclicality and the challenges of integrating and scaling a larger, more complex operation.

Balance Sheet

Balance Sheet The balance sheet shows a much larger company today than a few years ago, with total assets and shareholders’ equity expanding significantly, likely reflecting acquisitions and fleet investments. Debt has also increased but not dramatically, which points to a moderate leverage level for a capital‑intensive business. Cash on hand remains relatively small, so the company likely depends on ongoing cash generation and credit access rather than large cash reserves. The recent dip in equity alongside losses indicates that financial flexibility is decent but not unlimited, and sustained profitability will be important to keep the balance sheet strong.

Cash Flow

Cash Flow Cash generation from operations has improved steadily, moving from modest levels to comfortably positive territory. Even after substantial spending on new equipment and upgrades, the company has generally produced positive free cash flow, aside from a brief soft patch earlier in the period. Capital spending has climbed meaningfully, signaling a deliberate push to upgrade and expand the fleet, particularly high‑spec and more sustainable assets. Overall, the cash flow picture is a relative strength: the business is now generating enough cash to support reinvestment, though continued discipline will be needed in downturns when activity and pricing may soften.

Competitive Edge

Competitive Edge Patterson‑UTI operates in a tough, cyclical field, but it has built a meaningful position through scale, technology, and breadth of services. It offers contract drilling, pressure pumping, directional drilling, and wellbore guidance as an integrated package, which simplifies life for customers and can lower their total cost. Its fleet of modern, high‑spec land rigs is well suited for complex horizontal shale wells, and performance‑based contracts help tie its economics to customer success. At the same time, the company is still exposed to swings in oil and gas prices, customer capital budgets, and oversupply of rigs or frac fleets. In short, it has an above‑average toolkit in a structurally volatile industry.

Innovation and R&D

Innovation and R&D The company’s innovation efforts are a clear highlight. Its APEX rigs and CORTEX automation platform use data and software to standardize and speed up drilling, reduce human error, and extend equipment life. Modules that automate drilling, reaming, and data transmission, plus tools to reduce harmful vibrations, all aim to deliver faster, more predictable wells. Patterson‑UTI is also pushing into lower‑emission operations with its natural gas‑powered Emerald line, which aligns with both cost and environmental priorities for many customers. Directional drilling and data‑analytics capabilities add another layer of differentiation. The main questions are how quickly customers adopt these technologies across the fleet and whether the company can consistently translate technical advantages into stronger margins and contract terms.

Summary

Patterson‑UTI has transformed from a smaller, mostly loss‑making driller into a larger, more technologically sophisticated energy services platform with solid revenue growth and improving cash generation. Its strengths lie in a modern, high‑spec fleet, integrated drilling and completion services, and a strong push into automation, data analytics, and natural gas‑powered equipment. However, profitability remains uneven, the business is highly cyclical, and recent losses show that scale and innovation have not fully insulated it from industry headwinds or integration and cost challenges. The company appears well positioned from a capabilities standpoint, but its financial outcomes will continue to depend heavily on commodity cycles, customer spending patterns, and its own execution in turning technical and service advantages into durable, stable earnings.

NEWS

November 5, 2025 · 4:50 PM UTC

Patterson-UTI Reports Drilling Activity for October 2025

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October 22, 2025 · 6:20 PM UTC

Patterson-UTI Energy Reports Financial Results for the Quarter Ended September 30, 2025

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October 6, 2025 · 6:00 PM UTC

Patterson-UTI Energy Announces Third Quarter Earnings Conference Call and Webcast

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October 3, 2025 · 4:20 PM UTC

Patterson-UTI Reports Drilling Activity for September 2025

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September 19, 2025 · 8:50 AM UTC

Patterson-UTI Energy Congratulates Leslie Beyer following her Confirmation as the Assistant Secretary for Land and Minerals Management at the U.S. Department of the Interior; Beyer Resigns her Patterson-UTI Director Position

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