Helmerich & Payne Inc. Common Stock (HP)

FairStock Score: 44/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I approach drilling contractors with caution, because they sell a cyclical service and rarely possess a durable moat. Helmerich & Payne has scale and technology across North America, Offshore, and International, but its results show the commodity cycle: in fiscal 2023 it earned $434.1M, or $4.16 per diluted share, on $2.9B of revenue; in fiscal 2024 it earned $344.2M, or $3.43 per share, on $2.7B; then in fiscal 2025 it lost $163.7M, or $1.66 per share, on $3.7B of revenue. The latest filed quarter, fiscal Q3 2026 ended 2026-06-30, showed a welcome rebound to $75.7M of net income and $0.74 per share on $986.9M of revenue, versus a $162.8M loss and -$1.64 per share in fiscal Q3 2025. Still, fiscal Q1 2026 and Q2 2026 lost $96.7M and $58.6M, so the recovery is not yet proven. FairStock’s calculations at the 2026-10-13 close show a negative trailing P/E of -28.12, P/B of 1.52, EV/EBITDA of 7.00, and an 8.1% FCF yield on $315.3M trailing free cash flow. The 2.44% dividend and 0.65 beta are attractions, but D/E of 0.70, Altman Z-Score of 1.54, ROCE of 0.94%, and FairStock Score of 44/100 warn that this is no fortress. The Lynch category is TURNAROUND—loss in latest year after earlier profits. Price looks fair, not compelling, unless the profit rebound persists and cash flow covers the dividend.

In plain English: Helmerich & Payne provides drilling rigs and technology for oil and gas producers. The business is very cyclical: it made large profits in fiscal 2023 and 2024, lost money in fiscal 2025, and has just returned to a quarterly profit. At the current price, the stock looks roughly fair to modestly inexpensive based on cash flow and accounting value, but the weak recent earnings make it risky.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q3 2026 10-Q (period ended 2026-06-30) · fiscal Q2 2026 10-Q (period ended 2026-03-31) · fiscal Q1 2026 10-Q (period ended 2025-12-31) · fiscal Q3 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-09-30) · FY2024 10-K (period ended 2024-09-30) · FY2023 10-K (period ended 2023-09-30)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer