Tearsheet

Patterson-UTI Energy (PTEN)

Market Price (12/4/2025): $6.265 | Market Cap: $2.4 Bil
Sector: Energy | Industry: Oil & Gas Drilling

Patterson-UTI Energy (PTEN)

Market Price (12/4/2025): $6.265
Market Cap: $2.4 Bil
Sector: Energy
Industry: Oil & Gas Drilling

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 18%	Weak multi-year price returns 2Y Excs Rtn is -92%, 3Y Excs Rtn is -132%	Not profitable at operating income level Op Inc LTMOperating Income, Last Twelve Months is -67 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -1.4%
1	Valuation becoming less expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -34%		Debt is significant Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 56%
2	Attractive yield Dividend Yield is 3.1%, FCF Yield is 15%		Weak revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -17%, Rev Chg QQuarterly Revenue Change % is -13%
3	Megatrend and thematic drivers Megatrends include US Energy Independence. Themes include US Oilfield Technologies, and US LNG.		Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -7.9%

0	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 18%
1	Valuation becoming less expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -34%
2	Attractive yield Dividend Yield is 3.1%, FCF Yield is 15%
3	Megatrend and thematic drivers Megatrends include US Energy Independence. Themes include US Oilfield Technologies, and US LNG.
4	Weak multi-year price returns 2Y Excs Rtn is -92%, 3Y Excs Rtn is -132%
5	Not profitable at operating income level Op Inc LTMOperating Income, Last Twelve Months is -67 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -1.4%
6	Debt is significant Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 56%
7	Weak revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -17%, Rev Chg QQuarterly Revenue Change % is -13%
8	Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -7.9%

Valuation, Metrics & Events

	12/4/25	2024	2023	2022	2021
Share Price CYE	$6.26	$7.84	$9.92	$15.08	$7.47
Market Cap CYE ($ Bil)	2.4	3.1	4.1	3.2	1.6
Total Debt ($ Bil)	1.3	1.3	1.3	0.9	0.9
Total Cash ($ Bil)	0.2	0.2	0.2	0.1	0.1
Enterprise Value ($ Bil)	3.5	4.4	5.4	4.1	2.5
Valuation Ratios
P/S TTM	0.4	0.6	0.7	1.4	1.2
P/EBIT TTM	-29.6	-3.7	8.4	17.5	-2.4
P/E TTM	-14.5	-3.4	12.3	23.5	-2.5
Sector Ratios
P/S TTM (Sector)	1.4	1.5	1.5	1.2	1.3
P/EBIT TTM (Sector)	7.3	6.7	5.7	4.0	4.4
P/E TTM (Sector)	10.8	10.1	8.5	5.4	4.1

	12/4/25	2024	2023
Share Price CYE	$6.26	$7.84	$9.92
Market Cap CYE ($ Bil)	2.4	3.1	4.1
Total Debt ($ Bil)	1.3	1.3	1.3
Total Cash ($ Bil)	0.2	0.2	0.2
Enterprise Value ($ Bil)	3.5	4.4	5.4
Valuation Ratios
P/S TTM	0.4	0.6	0.7
P/EBIT TTM	-29.6	-3.7	8.4
P/E TTM	-14.5	-3.4	12.3
Sector Ratios
P/S TTM (Sector)	1.4	1.5	1.5
P/EBIT TTM (Sector)	7.3	6.7	5.7
P/E TTM (Sector)	10.8	10.1	8.5

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AI Generated Analysis | Feedback

Metric	Value	Date	Source
Average Drilling Rigs Operating in the United States	93	9302025	Link
Average Operating Rigs in the U.S. (Quarterly)	95	9302025	Link
U.S. Contract Drilling Operating Days (Quarterly)	8737	9302025	Link

Recent
12/01/2025	Dividend	Amount: $0.08 Payment On: 12/15/2025
Upcoming
2/04/2026	Earnings Release	Rev: - EPS: -

PTEN Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

AI Generated Analysis | Feedback

The stock price of Patterson-UTI Energy (PTEN) can be influenced by several factors related to its financial performance, drilling activity, broader oil and gas market conditions, and analyst sentiment. While the specific 11.1% movement from August 31, 2025, to December 4, 2025, cannot be confirmed from historical data, the following key points, based on recent available information up to late 2024 and early to mid-2025, highlight the types of factors that would drive such a change:

1. Q3 and Q4 2024 Financial Performance and Goodwill Impairment: Patterson-UTI Energy reported a total revenue of $1.4 billion for Q3 2024, but also a significant net loss attributable to common stockholders of $979 million, or $2.50 per share, which included an $885 million goodwill impairment. Despite this, adjusted net income and Adjusted EBITDA were positive. For Q4 2024, the company reported total revenue of $1.2 billion and a net loss of $52 million, or $0.13 per share. The company's full-year 2024 operating revenues were $5.38 billion, an increase from $4.15 billion in 2023, primarily driven by the completion services segment. These financial results, especially the large non-cash impairment charge, could significantly impact investor perception and stock valuation.

2. U.S. Drilling Activity and Rig Count: Patterson-UTI reported an average of 104 drilling rigs operating in the United States in December 2024, with a Q4 2024 average of 105 rigs. Looking ahead, the company anticipated average activity in 2025 would be slightly below 2024, with the rig count essentially steady from current levels. For August 2025, the company had an average of 94 drilling rigs operating in the United States. The stability or slight fluctuations in drilling rig activity, along with the company's focus on high-end equipment, are critical indicators for its revenue and profitability.

3. Oil and Natural Gas Market Outlook: The overall oil and gas market conditions play a significant role. The Q4 2024 outlook suggested that demand for oil continued to lag supply, with OPEC signaling delays in unwinding production cuts. The EIA forecasted an increase in demand for about 1.2 million barrels per day in 2025, but also projected a surplus for the remainder of 2025. Geopolitical shifts, US monetary policies, and the global transition to renewable energies were also identified as key drivers of oil market volatility. For natural gas, Patterson-UTI's CEO expected no recovery in activity or natural gas development in 2025 due to delays in LNG export capacity. However, the company is expanding its natural gas-powered equipment offerings, which could benefit it in the long term.

4. Shareholder Returns and Capital Allocation: Patterson-UTI has been actively returning capital to shareholders through dividends and share repurchases. In Q3 2024, the company returned $71 million to shareholders, including $40 million in share repurchases. For the full year 2024, adjusted free cash flow was $523 million, and $52 million was returned to shareholders in Q4 2024. The company expects to generate significant free cash flow in 2025 and plans to return at least 50% of this to shareholders. These actions demonstrate management's confidence and can positively influence investor sentiment.

5. Analyst Ratings and Price Targets: As of late 2024 and early 2025, analysts had a "Hold" consensus rating for Patterson-UTI Energy. The average twelve-month stock price forecast by 13 Wall Street analysts was $7.39, with a high of $10.00 and a low of $6.00. More recent ratings from October 2025 showed an average price target of $7.00 from RBC Capital, Barclays, and Susquehanna, implying a potential upside. Analyst sentiment and their price targets can influence market perceptions and contribute to stock movements.

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Stock Movement Drivers

Fundamental Drivers

The 15.4% change in PTEN stock from 9/3/2025 to 12/3/2025 was primarily driven by a 18.9% change in the company's P/S Multiple.

	9032025	12032025	Change
Stock Price ($)	5.44	6.28	15.36%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	5019.21	4837.95	-3.61%
P/S Multiple	0.42	0.50	18.89%
Shares Outstanding (Mil)	385.37	382.82	0.66%
Cumulative Contribution			15.35%

LTM = Last Twelve Months as of date shown

Market Drivers

9/3/2025 to 12/3/2025

	Return	Correlation
PTEN	15.4%
Market (SPY)	6.2%	44.6%
Sector (XLE)	3.8%	66.1%

Fundamental Drivers

The 15.1% change in PTEN stock from 6/4/2025 to 12/3/2025 was primarily driven by a 21.3% change in the company's P/S Multiple.

	6042025	12032025	Change
Stock Price ($)	5.46	6.28	15.09%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	5148.09	4837.95	-6.02%
P/S Multiple	0.41	0.50	21.29%
Shares Outstanding (Mil)	386.52	382.82	0.96%
Cumulative Contribution			15.08%

LTM = Last Twelve Months as of date shown

Market Drivers

6/4/2025 to 12/3/2025

	Return	Correlation
PTEN	15.1%
Market (SPY)	15.1%	35.3%
Sector (XLE)	13.0%	73.8%

Fundamental Drivers

The -19.3% change in PTEN stock from 12/3/2024 to 12/3/2025 was primarily driven by a -16.6% change in the company's Total Revenues ($ Mil).

	12032024	12032025	Change
Stock Price ($)	7.78	6.28	-19.33%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	5800.09	4837.95	-16.59%
P/S Multiple	0.53	0.50	-5.48%
Shares Outstanding (Mil)	391.73	382.82	2.28%
Cumulative Contribution			-19.37%

LTM = Last Twelve Months as of date shown

Market Drivers

12/3/2024 to 12/3/2025

	Return	Correlation
PTEN	-19.3%
Market (SPY)	14.3%	62.5%
Sector (XLE)	-0.5%	82.7%

Fundamental Drivers

The -60.2% change in PTEN stock from 12/4/2022 to 12/3/2025 was primarily driven by a -76.6% change in the company's Shares Outstanding (Mil).

	12042022	12032025	Change
Stock Price ($)	15.77	6.28	-60.18%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	2325.61	4837.95	108.03%
P/S Multiple	1.47	0.50	-66.20%
Shares Outstanding (Mil)	216.82	382.82	-76.56%
Cumulative Contribution			-83.52%

LTM = Last Twelve Months as of date shown

Market Drivers

12/4/2023 to 12/3/2025

	Return	Correlation
PTEN	-42.2%
Market (SPY)	53.2%	54.9%
Sector (XLE)	15.0%	79.8%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
PTEN Return	-49%	62%	102%	-34%	-21%	-24%	-34%
Peers Return	-19%	1509%	59%	33%	-12%	-0%	2336%
S&P 500 Return	16%	27%	-19%	24%	23%	16%	112%
Monthly Win Rates [3]
PTEN Win Rate	33%	50%	67%	17%	58%	30%
Peers Win Rate	33%	47%	62%	50%	47%	56%
S&P 500 Win Rate	58%	75%	42%	67%	75%	70%
Max Drawdowns [4]
PTEN Max Drawdown	-84%	0%	0%	-41%	-31%	-35%
Peers Max Drawdown	-49%	-4%	-12%	-17%	-27%	-44%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: WFRD, NE, RIG, WHD, LBRT.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/3/2025 (YTD)

How Low Can It Go

Unique Key	Event	PTEN	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-50.8%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	103.4%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	Not Fully Recovered days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-84.5%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	543.5%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	447 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-73.6%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	278.8%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	Not Fully Recovered days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-78.8%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	372.6%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	1967 days	1480 days

Compare to WFRD, NE, RIG, WHD, LBRT

In The Past

Patterson-UTI Energy's stock fell -50.8% during the 2022 Inflation Shock from a high on 5/27/2022. A -50.8% loss requires a 103.4% gain to breakeven.

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About Patterson-UTI Energy (PTEN)

Patterson-UTI Energy, Inc., through its subsidiaries, provides onshore contract drilling services to oil and natural gas operators in the United States and internationally. It operates through three segments: Contract Drilling Services, Pressure Pumping Services, and Directional Drilling Services. The Contract Drilling Services segment markets its contract drilling services primarily in west Texas, Appalachia, Rockies, Oklahoma, South Texas, East Texas, and Colombia. As of December 31, 2021, this segment had a drilling fleet of 192 marketable land-based drilling rigs. The Pressure Pumping Services segment offers pressure pumping services that consist of well stimulation for the completion of new wells and remedial work on existing wells, as well as hydraulic fracturing, cementing, and acid pumping services in Texas and the Appalachian region. The Directional Drilling Services segment provides a suite of directional drilling services, including directional drilling and measurement-while-drilling services; supply and rental of downhole performance motors; and software and services that enhances the accuracy of directional and horizontal wellbores, wellbore quality, and on-bottom rate of penetration. It also services equipment to drilling contractors, as well as provides electrical controls and automation to the energy, marine, and mining industries in North America and other markets; and owns and invests in oil and natural gas assets as a non-operating working interest owner located principally in Texas and New Mexico. Patterson-UTI Energy, Inc. was founded in 1978 and is headquartered in Houston, Texas.

AI Generated Analysis | Feedback

Here are 1-3 brief analogies for Patterson-UTI Energy (PTEN):

Essentially, a specialized Halliburton or Schlumberger for North American onshore drilling and hydraulic fracturing services.
The Caterpillar for oil and gas wells – providing and operating the heavy machinery and services to get oil out of the ground.
Like a large-scale Fluor or Kiewit for building and servicing oil and gas wells.

AI Generated Analysis | Feedback

Contract Drilling Services: Provides onshore drilling rigs and related services to exploration and production companies for oil and natural gas wells.
Pressure Pumping Services: Delivers hydraulic fracturing and other well completion services essential for maximizing hydrocarbon recovery from wells.
Reservoir Solutions: Offers specialized services including directional drilling, downhole technology, and rental tools designed to optimize wellbore placement and efficiency.

AI Generated Analysis | Feedback

Major Customers of Patterson-UTI Energy (PTEN)

Patterson-UTI Energy (PTEN) primarily sells its drilling and completion services to other companies in the oil and natural gas industry.

According to its public filings, Patterson-UTI Energy serves a diverse customer base, and no single customer accounted for 10% or more of its consolidated revenues in recent fiscal years (e.g., 2023, 2022, 2021). As such, PTEN does not identify specific "major customers" by name in its annual reports.

However, PTEN's customers generally fall into the following categories:

Major integrated oil and gas companies
Large and small independent oil and gas companies
National oil and gas companies

These categories encompass a wide array of exploration and production (E&P) companies that require PTEN's services for contract drilling, pressure pumping, and other completion activities across various North American basins.

AI Generated Analysis | Feedback

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AI Generated Analysis | Feedback

William Andrew Hendricks, Jr. President, Chief Executive Officer, Director Mr. Hendricks joined Patterson-UTI Energy in early 2012 as Chief Operating Officer and was appointed Chief Executive Officer later that year. He has over 30 years of experience in the global oil and gas industry. Prior to Patterson-UTI, he worked for Schlumberger for 24 years, where his last role was President of Schlumberger Drilling & Measurements from 2010 to 2012. He began his career working on an offshore drilling rig for Ocean Drilling & Exploration Company. Mr. Hendricks holds a Bachelor of Science degree in Petroleum Engineering from Texas A&M University. C. Andrew Smith Executive Vice President, Chief Financial Officer Mr. Smith has served as Executive Vice President and Chief Financial Officer of Patterson-UTI Energy since September 2017. Before joining Patterson-UTI, he was the Chief Financial Officer and Executive Vice President of Kirby Corporation from 2014 to 2017. Mr. Smith also held various senior positions at Global Industries, Natco Group, and Benthic Geotech. He is a Certified Public Accountant (CPA). James Michael Holcomb Chief Operating Officer Mr. Holcomb has been the Chief Business Officer and Executive Vice President of Patterson-UTI Energy since January 2023. He previously served as President of Patterson-UTI Drilling Company and Senior Vice President of Operations of Patterson-UTI Drilling Company LLC from April 2006 to January 2012. Kenneth N. Berns Executive Vice President and Chief Commercial Officer Mr. Berns serves as Executive Vice President and Chief Commercial Officer for Patterson-UTI Energy. He is also a Certified Public Accountant (CPA). Seth D. Wexler Executive Vice President, General Counsel and Secretary Mr. Wexler has served as Executive Vice President, General Counsel and Secretary of Patterson-UTI Energy since January 2023. He previously held the position of Senior Vice President, General Counsel and Secretary at Seventy Seven Energy Inc.

AI Generated Analysis | Feedback

The accelerating global energy transition, driven by advancements in renewable energy technologies (solar, wind), battery storage, and electric vehicles, is leading to a structural decline in the long-term demand for oil and natural gas. This directly threatens Patterson-UTI's core business by reducing the addressable market and demand for its drilling and completion services, which are predominantly tied to hydrocarbon extraction.

AI Generated Analysis | Feedback

Patterson-UTI Energy (PTEN) operates primarily in North America, providing a range of oilfield services. The addressable markets for their main products and services are sized as follows:

Contract Drilling Services: The North America drilling services market was valued at approximately USD 4.31 billion in 2024.
Pressure Pumping Services: The North America pressure pumping market is projected to reach USD 8.2 billion by 2024, with a forecasted growth to USD 12.0 billion by 2034.
Broader Oilfield Services Market (including drilling, completion, directional drilling, and rental equipment): The North America oilfield services market size was calculated to be USD 46.27 billion in 2024 and is anticipated to be worth USD 61.03 billion by 2033.

AI Generated Analysis | Feedback

Patterson-UTI Energy (PTEN) anticipates several key drivers for revenue growth over the next two to three years:

Increased Natural Gas Drilling Activity: The company expects a potential increase in natural gas drilling activity, particularly in 2026, propelled by the development and commissioning of new Liquefied Natural Gas (LNG) facilities. This trend is expected to boost demand for drilling and completion services.
Expansion and Adoption of Digital and Automation Technologies: Patterson-UTI is investing in and expanding its digital portfolio, including the launch of the PTEN Digital Performance Center and new technologies like Vertex™ Automated Controls. These advanced solutions are designed to enhance operational efficiency and optimize drilling and completion processes for customers, which is anticipated to drive adoption and revenue from these differentiated services.
Realization of Synergies and Integrated Service Offerings from Recent Acquisitions: The company completed strategic acquisitions of Ulterra and merged with NexTier, aiming to enhance its market positioning in the drilling and completions sector. The ongoing integration of these operations and commercial strategies, focusing on fully integrated drilling and completion services, is expected to expand Patterson-UTI's offerings and market share.
Growth in International Drilling Products Business: Patterson-UTI projects growth in its international Drilling Products segment. This international expansion is expected to contribute to a sequential increase in Drilling Products revenue.

AI Generated Analysis | Feedback

Share Repurchases

Patterson-UTI Energy repurchased approximately $1 billion in shares under an ongoing buyback program announced in 2013, having repurchased over 92 million shares as of Q3 2025.
The company plans to return at least $400 million to shareholders in 2024, including at least $270 million in buybacks.
As of Q3 2024, Patterson-UTI had $780 million authorized for repurchase, representing about 25% of its market capitalization, with management expecting significant further buybacks.

Share Issuance

Patterson-UTI Energy issued 34.9 million shares of common stock as part of the consideration for the acquisition of Ulterra Drilling Technologies in August 2023.
The merger with NexTier Oilfield Solutions in June 2023 was an all-stock transaction, where NexTier shareholders received 0.7520 shares of Patterson-UTI common stock for each NexTier share, with Patterson-UTI shareholders owning approximately 55% of the combined company. This acquisition involved the issuance of 178 million shares.
The company's outstanding shares increased significantly by 30.05% in 2023 and 38.98% in 2024, largely due to acquisitions.

Outbound Investments

In August 2023, Patterson-UTI Energy acquired Ulterra Drilling Technologies, a global provider of specialized drill bit solutions, for $370 million in cash and 34.9 million shares of Patterson-UTI common stock.
Patterson-UTI merged with NexTier Oilfield Solutions in an all-stock transaction in June 2023, creating a combined entity with an enterprise value of approximately $5.4 billion.
In July 2021, the company acquired Pioneer Energy Services Corp., which provided land-based contract drilling and production services, for $295 million.

Capital Expenditures

Patterson-UTI Energy expects capital expenditures for 2025 to be approximately $600 million, primarily for strategic investments in technology across all businesses.
Total capital expenditures for the third quarter of 2025 were $144 million.
The company anticipates lower capital expenditures in 2026 compared to 2025, while continuing to maintain key fleet assets and invest in new technologies to generate free cash flow.

Better Bets than Patterson-UTI Energy (PTEN)

	PTEN	Better Performance than PTEN
Metric	Value	INDUSTRY: Oil & Gas Drilling
Rev Chg LTM	-16.6%	HP (25.9%), NE (24.3%), RIG (16.9%), VAL (6.8%), SDRL (-9.3%)
Rev Chg 3Y Avg	33.5%	NE (59.6%), BORR (45.4%)
Op Mgn LTM	-1.4%	VAL (22.7%), NE (18.5%), RIG (15.5%), HP (9.1%), SDRL (2.5%)
CFO/Rev LTM	18.2%	NE (26.1%), VAL (24.8%), PDS (24.5%), BORR (20.1%), NBR (19.1%)
FCF/Rev LTM	6.0%	RIG (12.4%), PDS (11.4%), NE (11.4%), VAL (10.3%)
Total Yield	-3.8%	VAL (11.6%), BORR (11.0%), NE (8.6%), SDRL (1.8%), HP (0.7%)
P/S	0.4	NBR (0.2), PDS (0.4)
P/Op Inc	-29.4

	PTEN	Better Performance than PTEN
Metric	Value	SECTOR: Energy
Rev Chg LTM	-16.6%	ENB (32.3%), WMB (9.0%), COP (8.2%), XOM (-3.3%), CVX (-3.6%)
Rev Chg 3Y Avg	33.5%	UEC (10082.6%), UUUU (91.8%), NE (59.6%), PR (48.7%), TDW (45.6%)
Op Mgn LTM	-1.4%	WMB (34.3%), COP (21.0%), ENB (17.4%), XOM (11.4%), CVX (8.1%)
CFO/Rev LTM	18.2%	WMB (48.2%), KMI (34.9%), COP (33.3%), CNQ (33.2%), ENB (20.0%)
FCF/Rev LTM	6.0%	WMB (15.0%), COP (11.9%), XOM (8.8%), CVX (8.2%), ENB (6.3%)
Total Yield	-3.8%	ENB (12.9%), COP (10.8%), XOM (10.3%), CVX (8.3%), WMB (6.2%)
P/S	0.4	PAGP (0.1), PBF (0.1), DK (0.2), SUN (0.3), DINO (0.4)
P/Op Inc	-29.4

	PTEN	Better Performance than PTEN
Metric	Value	ALL OTHER SECTORS
Rev Chg LTM	-16.6%	NVDA (71.6%), MSFT (15.6%), GOOGL (13.4%), AMZN (10.9%), AAPL (6.0%)
Rev Chg 3Y Avg	33.5%	NVDA (92.0%), HOOD (47.5%), KKR (44.5%), APP (36.0%), CRWD (33.5%)
Op Mgn LTM	-1.4%	NVDA (58.1%), MSFT (46.3%), GOOGL (32.2%), AAPL (31.9%), AMZN (11.4%)
CFO/Rev LTM	18.2%	MSFT (50.0%), NVDA (46.6%), AVGO (42.4%), GOOGL (39.3%), AAPL (26.6%)
FCF/Rev LTM	6.0%	NVDA (43.6%), AVGO (41.6%), MSFT (26.6%), AAPL (23.5%), GOOGL (19.1%)
Total Yield	-3.8%	GOOGL (4.6%), MSFT (3.4%), AMZN (3.0%), AAPL (3.0%), NVDA (2.3%)
P/S	0.4	CVS (0.2), MCK (0.2), CI (0.3), GM (0.3), ELV (0.4)
P/Op Inc	-29.4

		Best Bets In Energy Sector
	PTEN
What You Pay
P/E	-14.6
P/EBIT	-29.7
What You Get
Rev Chg Q	-13.4%
Rev Chg LTM	-16.6%
Rev Chg 3Y Avg	33.5%
FCF/Rev 3Y Avg	8.5%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 5.4%, alpha of -0.1%, and sharpe of 0.25

Latest Trefis Analyses

	Title	Topic	Date
0	DASHBOARDS
1	null
2	Patterson-UTI Energy (PTEN) Debt Comparison	Financials
3	Patterson-UTI Energy (PTEN) Operating Income Comparison	Financials
4	Patterson-UTI Energy (PTEN) Net Income Comparison	Financials
5	Patterson-UTI Energy (PTEN) Operating Cash Flow Comparison	Financials
6	Patterson-UTI Energy (PTEN) EBITDA Comparison	Financials
7	Patterson-UTI Energy (PTEN) Revenue Comparison	Financials
8	Patterson-UTI Energy (PTEN) Tax Expense Comparison	Financials
9	Why Patterson-UTI Energy Stock Moved: PTEN Stock Has Lost 63% Since 2022 Fiscal End, Primarily Due To Unfavorable Change In Price To Sales Multiple (P/S)
10	PTEN Dip Buy Analysis
11	ARTICLES
12	Stocks Trading At 52-Week Low		August 21st, 2025

	Title
0	DASHBOARDS
1	null
2	Patterson-UTI Energy (PTEN) Debt Comparison
3	Patterson-UTI Energy (PTEN) Operating Income Comparison
4	Patterson-UTI Energy (PTEN) Net Income Comparison
5	Patterson-UTI Energy (PTEN) Operating Cash Flow Comparison
6	Patterson-UTI Energy (PTEN) EBITDA Comparison
7	Patterson-UTI Energy (PTEN) Revenue Comparison
8	Patterson-UTI Energy (PTEN) Tax Expense Comparison
9	Why Patterson-UTI Energy Stock Moved: PTEN Stock Has Lost 63% Since 2022 Fiscal End, Primarily Due To Unfavorable Change In Price To Sales Multiple (P/S)
10	PTEN Dip Buy Analysis
11	ARTICLES
12	Stocks Trading At 52-Week Low

Trade Ideas

Select past ideas related to PTEN. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
WHD_11212025_Dip_Buyer_ValueBuy	11212025	WHD	Cactus	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	8.3%	8.3%	0.0%
OVV_10172025_Dip_Buyer_FCFYield	10172025	OVV	Ovintiv	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	13.3%	13.3%	0.0%
COP_10102025_Dip_Buyer_FCFYield	10102025	COP	ConocoPhillips	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	2.8%	2.8%	-2.3%
HAL_10102025_Dip_Buyer_FCFYield	10102025	HAL	Halliburton	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	22.5%	22.5%	-0.7%
OXY_10102025_Dip_Buyer_FCFYield	10102025	OXY	Occidental Petroleum	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	-0.4%	-0.4%	-5.7%

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
WHD_11212025_Dip_Buyer_ValueBuy	11212025	WHD	Cactus	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	8.3%	8.3%	0.0%
OVV_10172025_Dip_Buyer_FCFYield	10172025	OVV	Ovintiv	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	13.3%	13.3%	0.0%
COP_10102025_Dip_Buyer_FCFYield	10102025	COP	ConocoPhillips	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	2.8%	2.8%	-2.3%
HAL_10102025_Dip_Buyer_FCFYield	10102025	HAL	Halliburton	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	22.5%	22.5%	-0.7%
OXY_10102025_Dip_Buyer_FCFYield	10102025	OXY	Occidental Petroleum	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	-0.4%	-0.4%	-5.7%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
MPLT	MapLight Therapeutics	0.7	31.3%
AEVA	Aeva Technologies	0.8	25.7%	188.2%
DC	Dakota Gold	0.6	19.7%	150.9%
SERV	Serve Robotics	0.7	18.2%	-12.6%
ACDC	ProFrac	0.7	17.6%	-45.0%
HY	Hyster Yale	0.6	15.6%	-29.9%
AEO	American Eagle Outfitters	4.1	15.1%	49.7%
BEAM	Beam Therapeutics	2.7	14.4%	7.8%
GOSS	Gossamer Bio	0.8	14.4%	278.1%
FTRE	Fortrea	1.3	14.4%	-21.8%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
PSTG	Pure Storage	22.6	-27.3%	12.1%
GTLB	GitLab	6.3	-12.8%	-32.9%
CTEV	Claritev	0.7	-11.3%
FBYD	Falcons Beyond Global	0.7	-11.2%	131.2%
ACHC	Acadia Healthcare	1.3	-10.9%	-63.0%
ULS	UL Solutions	16.0	-10.7%	60.4%
HPK	HighPeak Energy	0.7	-10.6%	-59.8%
OS	OneStream	3.5	-10.4%	-35.0%
ARE	Alexandria Real Estate Equities	8.2	-10.1%	-47.9%
THO	Thor Industries	5.3	-9.5%	6.6%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
HPP	Hudson Pacific Properties	6.3	641.5%	-34.3%
TLRY	Tilray Brands	7.5	618.1%	-46.9%
TMC	TMC The Metals	2.8	42.2%	589.3%
VERA	Vera Therapeutics	2.6	40.2%	-2.4%
ARWR	Arrowhead Pharmaceuticals	9.0	39.1%	246.1%
TE	T1 Energy	0.7	37.4%
MPLT	MapLight Therapeutics	0.7	32.1%
AEVA	Aeva Technologies	0.8	31.1%	188.2%
AMKR	Amkor Technology	10.9	30.2%	73.4%
DC	Dakota Gold	0.6	30.2%	150.9%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
JANX	Janux Therapeutics	1.1	-50.7%	-68.0%
VTYX	Ventyx Biosciences	0.6	-25.0%	258.0%
CTEV	Claritev	0.7	-23.5%
AMBA	Ambarella	3.0	-22.9%	-3.6%
FULC	Fulcrum Therapeutics	0.6	-21.5%	92.8%
PD	PagerDuty	1.1	-20.5%	-33.9%
NTNX	Nutanix	12.7	-19.3%	-22.4%
CNK	Cinemark	2.6	-18.0%	-25.2%
PSTG	Pure Storage	22.6	-17.2%	12.1%
ZS	Zscaler	38.1	-15.9%	35.1%

1 Month Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
OLMA	Olema Pharmaceuticals	2.3	223.6%	367.4%
COGT	Cogent Biosciences	5.4	152.6%	402.1%
CDTX	Cidara Therapeutics	5.9	115.1%	722.1%
IRWD	Ironwood Pharmaceuticals	0.6	100.5%	-15.8%
TERN	Terns Pharmaceuticals	2.5	95.9%	396.2%
FRGE	Forge Global	0.6	90.3%	217.8%
SGML	Sigma Lithium	1.1	87.3%	-10.6%
INSP	Inspire Medical Systems	4.0	82.8%	-27.3%
NPCE	NeuroPace	0.6	77.2%	48.9%
ALMS	Alumis	0.6	71.9%	-0.3%

1 Month Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
UP	Wheels Up Experience	0.4	-52.7%	-62.4%
CCOI	Cogent Communications	0.9	-51.9%	-72.9%
SMR	NuScale Power	3.0	-50.7%	12.3%
FRMI	Fermi	10.3	-47.5%
AMSC	American Superconductor	1.4	-47.2%	30.1%
TLRY	Tilray Brands	7.5	-46.1%	-46.9%
BTDR	Bitdeer Technologies	2.4	-44.8%	-41.8%
EXOD	Exodus Movement	0.4	-43.1%	-53.3%
STUB	Stubhub	3.5	-39.8%
METC	Ramaco Resources	1.0	-39.4%	66.9%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
MPLT	MapLight Therapeutics	0.7	31.3%
AEVA	Aeva Technologies	0.8	25.7%	188.2%
DC	Dakota Gold	0.6	19.7%	150.9%
SERV	Serve Robotics	0.7	18.2%	-12.6%
ACDC	ProFrac	0.7	17.6%	-45.0%
HY	Hyster Yale	0.6	15.6%	-29.9%
AEO	American Eagle Outfitters	4.1	15.1%	49.7%
BEAM	Beam Therapeutics	2.7	14.4%	7.8%
GOSS	Gossamer Bio	0.8	14.4%	278.1%
FTRE	Fortrea	1.3	14.4%	-21.8%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
PSTG	Pure Storage	22.6	-27.3%	12.1%
GTLB	GitLab	6.3	-12.8%	-32.9%
CTEV	Claritev	0.7	-11.3%
FBYD	Falcons Beyond Global	0.7	-11.2%	131.2%
ACHC	Acadia Healthcare	1.3	-10.9%	-63.0%
ULS	UL Solutions	16.0	-10.7%	60.4%
HPK	HighPeak Energy	0.7	-10.6%	-59.8%
OS	OneStream	3.5	-10.4%	-35.0%
ARE	Alexandria Real Estate Equities	8.2	-10.1%	-47.9%
THO	Thor Industries	5.3	-9.5%	6.6%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
HPP	Hudson Pacific Properties	6.3	641.5%	-34.3%
TLRY	Tilray Brands	7.5	618.1%	-46.9%
TMC	TMC The Metals	2.8	42.2%	589.3%
VERA	Vera Therapeutics	2.6	40.2%	-2.4%
ARWR	Arrowhead Pharmaceuticals	9.0	39.1%	246.1%
TE	T1 Energy	0.7	37.4%
MPLT	MapLight Therapeutics	0.7	32.1%
AEVA	Aeva Technologies	0.8	31.1%	188.2%
AMKR	Amkor Technology	10.9	30.2%	73.4%
DC	Dakota Gold	0.6	30.2%	150.9%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
JANX	Janux Therapeutics	1.1	-50.7%	-68.0%
VTYX	Ventyx Biosciences	0.6	-25.0%	258.0%
CTEV	Claritev	0.7	-23.5%
AMBA	Ambarella	3.0	-22.9%	-3.6%
FULC	Fulcrum Therapeutics	0.6	-21.5%	92.8%
PD	PagerDuty	1.1	-20.5%	-33.9%
NTNX	Nutanix	12.7	-19.3%	-22.4%
CNK	Cinemark	2.6	-18.0%	-25.2%
PSTG	Pure Storage	22.6	-17.2%	12.1%
ZS	Zscaler	38.1	-15.9%	35.1%

Peer Comparisons for Patterson-UTI Energy

Peers to compare with:

Financials

	PTEN	WFRD	NE	RIG	WHD	LBRT	Median
Name	Patterso.	Weatherf.	Noble	Transoce.	Cactus	Liberty .
Mkt Price	6.28	76.96	33.12	4.45	45.90	19.09	26.10
Mkt Cap	2.4	5.5	5.3	4.3	3.2	3.1	3.7
Rev LTM	4,838	4,970	3,448	3,874	1,090	3,911	3,892
Op Inc LTM	-67	725	636	601	261	75	431
FCF LTM	289	382	392	482	208	-2	335
FCF 3Y Avg	395	498	249	1	253	240	251
CFO LTM	880	657	901	606	253	591	632
CFO 3Y Avg	1,016	742	722	396	294	832	732

Growth & Margins

	PTEN	WFRD	NE	RIG	WHD	LBRT	Median
Name	Patterso.	Weatherf.	Noble	Transoce.	Cactus	Liberty .
Rev Chg LTM	-16.6%	-10.2%	24.3%	16.9%	-3.8%	-12.0%	-7.0%
Rev Chg 3Y Avg	33.5%	7.6%	59.6%	14.6%	22.9%	4.8%	18.7%
Rev Chg Q	-13.4%	-12.6%	-0.3%	8.4%	-10.0%	-16.8%	-11.3%
QoQ Delta Rev Chg LTM	-3.6%	-3.4%	-0.1%	2.1%	-2.6%	-4.7%	-3.0%
Op Mgn LTM	-1.4%	14.6%	18.5%	15.5%	24.0%	1.9%	15.1%
Op Mgn 3Y Avg	4.9%	15.8%	21.8%	5.9%	25.4%	10.0%	12.9%
QoQ Delta Op Mgn LTM	1.4%	-0.8%	-2.2%	2.0%	-0.8%	-2.8%	-0.8%
CFO/Rev LTM	18.2%	13.2%	26.1%	15.6%	23.2%	15.1%	16.9%
CFO/Rev 3Y Avg	22.1%	14.3%	24.3%	11.6%	27.3%	18.7%	20.4%
FCF/Rev LTM	6.0%	7.7%	11.4%	12.4%	19.1%	-0.1%	9.5%
FCF/Rev 3Y Avg	8.5%	9.6%	8.2%	-1.5%	23.5%	5.1%	8.3%

Valuation

	PTEN	WFRD	NE	RIG	WHD	LBRT	Median
Name	Patterso.	Weatherf.	Noble	Transoce.	Cactus	Liberty .
Mkt Cap	2.4	5.5	5.3	4.3	3.2	3.1	3.7
P/S	0.4	1.0	1.3	0.8	2.5	0.5	0.9
P/EBIT	-29.7	6.7	8.1	-1.2	10.6	7.3	7.0
P/E	-14.6	12.1	19.8	-1.0	15.7	10.7	11.4
P/CFO	2.3	7.5	5.0	4.9	10.7	3.4	5.0
Total Yield	-3.8%	9.7%	8.6%	-97.8%	7.7%	12.0%	8.2%
Dividend Yield	3.1%	1.5%	3.6%	0.0%	1.4%	2.6%	2.1%
FCF Yield 3Y Avg	14.0%	8.4%	4.9%	2.5%	7.6%	7.6%	7.6%
D/E	0.6	0.4	0.4	2.1	0.0	0.3	0.4
Net D/E	0.6	0.2	0.3	1.8	-0.1	0.3	0.3

Returns

	PTEN	WFRD	NE	RIG	WHD	LBRT	Median
Name	Patterso.	Weatherf.	Noble	Transoce.	Cactus	Liberty .
1M Rtn	-0.5%	2.3%	11.0%	12.4%	3.8%	3.9%	3.9%
3M Rtn	15.4%	23.8%	16.9%	48.8%	14.0%	83.4%	20.4%
6M Rtn	15.1%	66.4%	27.9%	68.6%	3.9%	60.7%	44.3%
12M Rtn	-19.3%	-7.7%	5.2%	0.9%	-30.6%	5.3%	-3.4%
3Y Rtn	-60.2%	83.1%	-0.7%	6.2%	-13.3%	24.7%	2.8%
1M Excs Rtn	-0.5%	2.3%	11.1%	12.4%	3.8%	4.0%	3.9%
3M Excs Rtn	3.9%	17.9%	9.6%	38.2%	0.9%	72.6%	13.7%
6M Excs Rtn	0.4%	51.7%	13.2%	53.8%	-10.9%	46.0%	29.6%
12M Excs Rtn	-34.0%	-18.4%	-7.0%	-12.4%	-45.7%	-7.3%	-15.4%
3Y Excs Rtn	-131.6%	11.0%	-68.0%	-58.1%	-79.6%	-47.3%	-63.1%

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End	9/30/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date	10/28/2025	2/11/2025	2/27/2024	2/13/2023	2/16/2022	2/9/2021	2/13/2020
Key Financials
Total Revenue	4,838	5,378	4,146	2,648	1,357	1,124	2,471
EBITDA	907	287	1,091	692	171	-219	549
Operating Income	-67	29	450	213	-666	-459	-444
Net Income	-136	-968	246	155	-655	-804	-426
EPS	-0.36	-2.44	0.88	0.72	-3.36	-4.27	-2.10
Growth Rates
Total Revenue Growth	-16.6%	29.7%	56.6%	95.1%	20.7%	-54.5%	-25.7%
EBITDA Growth	99.5%	-73.7%	57.7%	303.8%	178.1%	-140.0%	-8.6%
Operating Income Growth	-135.9%	-93.7%	111.2%	132.0%	-45.1%	-3.4%	-309.7%
Net Income Growth	84.1%	-493.0%	59.2%	123.6%	18.6%	-88.8%	-32.4%
Margins
EBITDA Margin	18.8%	5.3%	26.3%	26.1%	12.6%	-19.5%	22.2%
Operating Income Margin	-1.4%	0.5%	10.9%	8.0%	-49.1%	-40.8%	-18.0%
Net Income Margin	-2.8%	-18.0%	5.9%	5.8%	-48.2%	-71.5%	-17.2%
Cash & Debt
Total Cash	185	239	190	138	118	225	174
Total Debt	1,288	1,299	1,345	856	877	928	1,003
Net Debt / (Cash)	1,104	1,060	1,155	718	760	703	829
Cash Flows
Net Cash from Operations	880	1,176	1,006	566	95	279	696
Free Cash from Operations	289	497	390	129	-71	133	349
Returns to Shareholders
Dividends	123	127	100	43	16	19	32
Share Repurchases	90	290	201	70	6	21	255

$ Mil \| FY: 12/31	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4
Period End	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022
Filing Date	10/28/2025	7/29/2025	4/29/2025	2/11/2025	10/28/2024	7/29/2024	5/6/2024	2/27/2024	11/9/2023	8/1/2023	5/1/2023	2/13/2023
Key Financials Quarterly
Total Revenue	1,176	1,219	1,281	1,162	1,357	1,348	1,510	1,584	1,011	759	792	788
Ebitda	200	232	252	223	-616	315	365	391	209	235	257	240
Operating Income	-28	-29	17	-28	-99	56	99	132	80	113	126	117
Net Income	-36	-49	1	-52	-979	11	51	62	0	85	100	100
EPS	-0.10	-0.13	0.00	-0.13	-2.50	0.03	0.13	0.09	0.00	0.41	0.47	0.46
Key Financials TTM
Total Revenue TTM	4,838	5,019	5,148	5,378	5,800	5,454	4,865	4,146	3,351	3,067	2,930	2,648
Ebitda TTM	907	91	174	287	455	1,280	1,200	1,091	940	928	849	692
Operating Income TTM	-67	-138	-53	29	188	367	423	450	435	432	356	213
Net Income TTM	-136	-1,078	-1,018	-968	-854	124	198	246	284	346	283	155
Growth Rates Quarterly
Total Revenue Growth	-13.4%	-9.6%	-15.2%	-26.6%	34.2%	77.7%	90.7%	100.9%	39.0%	22.0%	55.4%	69.0%
EBITDA Growth	132.5%	-26.3%	-30.9%	-43.0%	-394.9%	34.1%	42.1%	63.0%	6.1%	50.7%	157.8%	386.3%
Operating Income Growth	71.7%	-151.9%	-82.5%	-121.2%	-223.5%	-50.3%	-21.2%	12.7%	4.6%	204.6%	840.2%	133.3%
Net Income Growth	96.3%	-543.7%	-98.0%	-183.3%	-1957622.0%	-86.9%	-48.6%	-38.1%	-99.9%	286.6%	446.4%	127.7%
Margins Quarterly
EBITDA Margin	17.0%	19.0%	19.7%	19.2%	-45.4%	23.4%	24.2%	24.7%	20.6%	31.0%	32.4%	30.4%
Operating Income Margin	-2.4%	-2.4%	1.4%	-2.4%	-7.3%	4.1%	6.6%	8.3%	7.9%	14.8%	15.9%	14.8%
Net Income Margin	-3.1%	-4.0%	0.1%	-4.4%	-72.1%	0.8%	3.4%	3.9%	0.0%	11.1%	12.6%	12.7%
Cash & Debt
Total Cash	185	184	223	239	113	72	170	190	67	150	157	138
Total Debt	1,288	1,287	1,292	1,299	1,312	1,314	1,321	1,345	1,348	844	846	856
Net Debt / (Cash)	1,104	1,103	1,069	1,060	1,199	1,241	1,151	1,155	1,280	694	688	718
Cash Flows Quarterly
FCF from Operations	216	140	208	316	296	198	366	453	156	163	234	303
Cash Flows TTM
FCF from Operations TTM	880	960	1,018	1,176	1,312	1,172	1,137	1,006	856	878	767	566
Returns to Shareholders Quarterly
Dividends	30	31	31	31	31	32	33	33	33	17	17	17
Share Repurchases	34	16	20	20	40	132	98	76	23	27	74	57
Return on Invested Capital (ROIC) Quarterly
ROIC	-2.7%	-3.2%	0.9%	-3.1%	-10.1%	2.3%	7.0%	8.2%	0.4%	48.6%	49.9%	42.4%
Return on Invested Capital (ROIC) TTM
ROIC TTM	-1.9%	-3.7%	-1.5%	0.8%	5.0%	6.2%	8.0%	8.5%	8.5%	48.0%	38.1%	19.3%

Segment Financials

Assets by Segment

$ Mil	2024	2023	2022	2021	2020
Completion Services	3,836
Drilling Services	2,369
Drilling Products	1,012
Corporate	145	190	157	301	261
Other	59
Contract drilling		2,197	2,170	2,315	3,190
Directional drilling		121	87	108	164
Other operations		94	86	89	128
Pressure pumping		542	458	487	696
Total	7,420	3,144	2,958	3,299	4,440

Price Behavior

Price Behavior

Market Price	$6.28
Market Cap ($ Bil)	2.4
First Trading Date	11/02/1993
Distance from 52W High	-30.0%
	50 Days	200 Days
DMA Price	$5.80	$6.03
DMA Trend	down	up
Distance from DMA	8.3%	4.2%
	3M	1YR
Volatility	51.8%	59.5%
Downside Capture	95.60	145.70
Upside Capture	135.19	105.73
Correlation (SPY)	43.0%	62.6%

PTEN Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	1.77	2.02	1.80	1.61	1.88	1.59
Up Beta	2.13	1.92	2.94	2.56	1.93	1.51
Down Beta	3.43	3.36	3.02	2.57	2.73	2.28
Up Capture	82%	197%	84%	80%	97%	87%
Bmk +ve Days	13	26	39	74	142	427
Stock +ve Days	10	22	31	61	120	351
Down Capture	176%	120%	99%	96%	124%	109%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	8	18	30	62	122	387

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

1Y 5Y 10Y

Based On 1-Year Data

		Comparison of PTEN With Other Asset Classes (Last 1Y)
	PTEN	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-21.1%	-1.1%	15.3%	58.9%	4.6%	-5.8%	-3.1%
Annualized Volatility	59.2%	24.6%	19.7%	19.4%	15.9%	17.8%	35.7%
Sharpe Ratio	-0.17	-0.09	0.60	2.26	0.09	-0.48	0.04
Correlation With Other Assets		82.5%	62.5%	5.5%	61.8%	44.3%	24.3%

ETFs used for asset classes: Sector ETF = XLE, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Based On 5-Year Data

		Comparison of PTEN With Other Asset Classes (Last 5Y)
	PTEN	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	8.3%	22.4%	15.0%	17.9%	11.9%	4.9%	37.1%
Annualized Volatility	57.5%	27.1%	17.1%	15.5%	18.9%	19.0%	49.1%
Sharpe Ratio	0.37	0.76	0.71	0.93	0.52	0.17	0.64
Correlation With Other Assets		77.9%	40.9%	14.6%	55.5%	29.0%	16.9%

Based On 10-Year Data

		Comparison of PTEN With Other Asset Classes (Last 10Y)
	PTEN	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-7.4%	7.1%	14.5%	14.2%	5.6%	5.4%	76.3%
Annualized Volatility	62.5%	29.9%	18.0%	14.8%	17.7%	20.9%	55.9%
Sharpe Ratio	0.15	0.29	0.69	0.79	0.25	0.23	0.95
Correlation With Other Assets		76.6%	45.3%	4.8%	54.4%	33.4%	11.8%

Short Interest

Short Interest: As Of Date	11142025
Short Interest: Shares Quantity	28,938,237
Short Interest: % Change Since 10312025	-7.9%
Average Daily Volume	7,880,091
Days-to-Cover Short Interest	3.67
Basic Shares Quantity	382,819,000
Short % of Basic Shares	7.6%

SEC Filings

Expand for More

Report Date	Filing Date	Filing
9302025	10282025	10-Q 9/30/2025
6302025	7292025	10-Q 6/30/2025
3312025	4292025	10-Q 3/31/2025
12312024	2112025	10-K 12/31/2024
9302024	10282024	10-Q 9/30/2024
6302024	7292024	10-Q 6/30/2024
3312024	5062024	10-Q 3/31/2024
12312023	2272024	10-K 12/31/2023
9302023	11092023	10-Q 9/30/2023
6302023	8012023	10-Q 6/30/2023
3312023	5012023	10-Q 3/31/2023
12312022	2132023	10-K 12/31/2022
9302022	10312022	10-Q 9/30/2022
6302022	8022022	10-Q 6/30/2022
3312022	5032022	10-Q 3/31/2022
12312021	2162022	10-K 12/31/2021

Insider Activity

Expand for More

	Owner	Title	Filing Date	Action	Price	Shares	Transacted Value	Value of Held Shares	Form
0	STEWART JAMES CARL		6042025	Sell	5.51	74,500	410,495	5,098,150	Form
1	STEWART JAMES CARL		5132025	Sell	5.98	5,500	32,890	5,978,529	Form
2	Hendricks William Andrew JR	President & CEO	3132025	Buy	7.88	25,000	197,000	19,562,825	Form
3	STEWART JAMES CARL		3112025	Sell	7.42	48,149	357,266	634,224	Form
4	Drummond Robert Wayne Jr		2182025	Sell	8.89	230,000	2,044,700	13,771,330	Form

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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Patterson-UTI Energy (PTEN)

Market Price (12/4/2025): $6.265 | Market Cap: $2.4 BilSector: Energy | Industry: Oil & Gas Drilling

Patterson-UTI Energy (PTEN)

Market Price (12/4/2025): $6.265Market Cap: $2.4 BilSector: EnergyIndustry: Oil & Gas Drilling

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Market Price (12/4/2025): $6.265 | Market Cap: $2.4 Bil
Sector: Energy | Industry: Oil & Gas Drilling

Market Price (12/4/2025): $6.265
Market Cap: $2.4 Bil
Sector: Energy
Industry: Oil & Gas Drilling