RPC (RES)
Market Price (9/5/2026): $6.515 | Market Cap: $1.4 BilSector: Energy | Industry: Oil & Gas Equipment & Services
RPC (RES)
Market Price (9/5/2026): $6.515Market Cap: $1.4 BilSector: EnergyIndustry: Oil & Gas Equipment & Services
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 25% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 10% Attractive yieldDividend Yield is 2.5% Low stock price volatilityVol 12M is 47% Megatrend and thematic driversMegatrends include US Energy Independence. Themes include US Oilfield Technologies. | Weak multi-year price returns2Y Excs Rtn is -29%, 3Y Excs Rtn is -84% | Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 30x, P/EPrice/Earnings or Price/(Net Income) is 61x Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.9% Key risksRES key risks include [1] competitive disadvantages due to its smaller scale amid costly technological shifts to lower-emissions equipment and [2] a high degree of customer concentration. |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 25% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 10% |
| Attractive yieldDividend Yield is 2.5% |
| Low stock price volatilityVol 12M is 47% |
| Megatrend and thematic driversMegatrends include US Energy Independence. Themes include US Oilfield Technologies. |
| Weak multi-year price returns2Y Excs Rtn is -29%, 3Y Excs Rtn is -84% |
| Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 30x, P/EPrice/Earnings or Price/(Net Income) is 61x |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.9% |
| Key risksRES key risks include [1] competitive disadvantages due to its smaller scale amid costly technological shifts to lower-emissions equipment and [2] a high degree of customer concentration. |
Qualitative Assessment
AI Analysis | Feedback
Updated on 9/1/2026
RPC (RES) stock has remained largely at the same level since 5/31/2026 because of the following key factors:
1. Mixed Fiscal Q2 2026 Financial Performance. RPC reported an Adjusted diluted EPS of $0.08 for fiscal Q2 2026 (ended June 30, 2026), significantly surpassing the consensus estimate of $0.04. However, quarterly revenue of $460.9 million, while representing a 1% sequential increase and 9.5% year-over-year growth, fell slightly below analysts' expectations of $463.48 million. Furthermore, year-to-date net income for the first half of fiscal 2026 declined to $12.93 million from $22.178 million in the prior-year period, and free cash flow was $3.8 million, significantly less than the $17.62 million reported in the first half of 2025 due to working capital utilization. This combination of strong profitability metrics with a revenue miss and reduced year-over-year cash flow led to a balanced, largely neutral investor reaction.
2. Leadership Uncertainty with CEO Succession Plan. On June 23, 2026, RPC announced that its President and CEO, Ben M. Palmer, would retire by the end of 2026, and the board had initiated a search for his successor. This news introduced company-specific uncertainty regarding future leadership and strategic direction. The announcement triggered an almost 12% drop in the company's stock on June 24, 2026, reflecting investor apprehension over the departure of a long-serving executive at a critical juncture for the industry.
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RPC (RES) stock has remained largely at the same level since 5/31/2026 because of the following key factors:
1. Mixed Fiscal Q2 2026 Financial Performance. RPC reported an Adjusted diluted EPS of $0.08 for fiscal Q2 2026 (ended June 30, 2026), significantly surpassing the consensus estimate of $0.04. However, quarterly revenue of $460.9 million, while representing a 1% sequential increase and 9.5% year-over-year growth, fell slightly below analysts' expectations of $463.48 million. Furthermore, year-to-date net income for the first half of fiscal 2026 declined to $12.93 million from $22.178 million in the prior-year period, and free cash flow was $3.8 million, significantly less than the $17.62 million reported in the first half of 2025 due to working capital utilization. This combination of strong profitability metrics with a revenue miss and reduced year-over-year cash flow led to a balanced, largely neutral investor reaction.
2. Leadership Uncertainty with CEO Succession Plan. On June 23, 2026, RPC announced that its President and CEO, Ben M. Palmer, would retire by the end of 2026, and the board had initiated a search for his successor. This news introduced company-specific uncertainty regarding future leadership and strategic direction. The announcement triggered an almost 12% drop in the company's stock on June 24, 2026, reflecting investor apprehension over the departure of a long-serving executive at a critical juncture for the industry.
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Updated on 9/1/2026
RPC (RES) stock has remained largely at the same level since 5/31/2026 because of the following key factors:
1. Mixed Fiscal Q2 2026 Financial Performance. RPC reported an Adjusted diluted EPS of $0.08 for fiscal Q2 2026 (ended June 30, 2026), significantly surpassing the consensus estimate of $0.04. However, quarterly revenue of $460.9 million, while representing a 1% sequential increase and 9.5% year-over-year growth, fell slightly below analysts' expectations of $463.48 million. Furthermore, year-to-date net income for the first half of fiscal 2026 declined to $12.93 million from $22.178 million in the prior-year period, and free cash flow was $3.8 million, significantly less than the $17.62 million reported in the first half of 2025 due to working capital utilization. This combination of strong profitability metrics with a revenue miss and reduced year-over-year cash flow led to a balanced, largely neutral investor reaction.
2. Leadership Uncertainty with CEO Succession Plan. On June 23, 2026, RPC announced that its President and CEO, Ben M. Palmer, would retire by the end of 2026, and the board had initiated a search for his successor. This news introduced company-specific uncertainty regarding future leadership and strategic direction. The announcement triggered an almost 12% drop in the company's stock on June 24, 2026, reflecting investor apprehension over the departure of a long-serving executive at a critical juncture for the industry.
3. Cautious Analyst Sentiment and Price Targets. Throughout the specified period, analyst sentiment towards RPC remained cautious, culminating in a consensus "Reduce" rating for the stock. Analysts maintained or lowered their price targets; for instance, Susquehanna decreased its price objective for RPC from $7.50 to $6.00 on July 8, 2026. This generally subdued outlook from the analyst community, with an average price target of $6.00, likely acted as a ceiling, preventing the stock from experiencing significant upward momentum.
4. Broader Macroeconomic Headwinds in the Oilfield Services Sector. Despite crude oil prices remaining elevated (e.g., West Texas Intermediate between $109 and $112 per barrel in May 2026), the oilfield services sector did not experience a robust upcycle during the period. Exploration and Production (E&P) operators maintained disciplined capital programs, resulting in a muted increase in the U.S. rig count. Additionally, input costs for oilfield services firms increased in fiscal Q1 2026. These industry-wide factors, including challenges in North America such as declining production from mature oilfields, created a restrictive environment for growth, contributing to the stagnant trend in RPC's stock price.
Show less
RPC (RES) stock has remained largely at the same level since 5/31/2026 because of the following key factors:
1. Mixed Fiscal Q2 2026 Financial Performance. RPC reported an Adjusted diluted EPS of $0.08 for fiscal Q2 2026 (ended June 30, 2026), significantly surpassing the consensus estimate of $0.04. However, quarterly revenue of $460.9 million, while representing a 1% sequential increase and 9.5% year-over-year growth, fell slightly below analysts' expectations of $463.48 million. Furthermore, year-to-date net income for the first half of fiscal 2026 declined to $12.93 million from $22.178 million in the prior-year period, and free cash flow was $3.8 million, significantly less than the $17.62 million reported in the first half of 2025 due to working capital utilization. This combination of strong profitability metrics with a revenue miss and reduced year-over-year cash flow led to a balanced, largely neutral investor reaction.
2. Leadership Uncertainty with CEO Succession Plan. On June 23, 2026, RPC announced that its President and CEO, Ben M. Palmer, would retire by the end of 2026, and the board had initiated a search for his successor. This news introduced company-specific uncertainty regarding future leadership and strategic direction. The announcement triggered an almost 12% drop in the company's stock on June 24, 2026, reflecting investor apprehension over the departure of a long-serving executive at a critical juncture for the industry.
3. Cautious Analyst Sentiment and Price Targets. Throughout the specified period, analyst sentiment towards RPC remained cautious, culminating in a consensus "Reduce" rating for the stock. Analysts maintained or lowered their price targets; for instance, Susquehanna decreased its price objective for RPC from $7.50 to $6.00 on July 8, 2026. This generally subdued outlook from the analyst community, with an average price target of $6.00, likely acted as a ceiling, preventing the stock from experiencing significant upward momentum.
4. Broader Macroeconomic Headwinds in the Oilfield Services Sector. Despite crude oil prices remaining elevated (e.g., West Texas Intermediate between $109 and $112 per barrel in May 2026), the oilfield services sector did not experience a robust upcycle during the period. Exploration and Production (E&P) operators maintained disciplined capital programs, resulting in a muted increase in the U.S. rig count. Additionally, input costs for oilfield services firms increased in fiscal Q1 2026. These industry-wide factors, including challenges in North America such as declining production from mature oilfields, created a restrictive environment for growth, contributing to the stagnant trend in RPC's stock price.
Show less
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Stock Movement Drivers
Fundamental Drivers
The -1.1% change in RES stock from 5/31/2026 to 9/4/2026 was primarily driven by a -9.0% change in the company's P/E Multiple.| (LTM values as of) | 5312026 | 9042026 | Change |
|---|---|---|---|
| Stock Price ($) | 6.57 | 6.50 | -1.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,748 | 1,789 | 2.3% |
| Net Income Margin (%) | 1.2% | 1.3% | 6.8% |
| P/E Multiple | 67.2 | 61.2 | -9.0% |
| Shares Outstanding (Mil) | 214 | 215 | -0.6% |
| Cumulative Contribution | -1.1% |
Market Drivers
5/31/2026 to 9/4/2026| Return | Correlation | |
|---|---|---|
| RES | -1.1% | |
| Market (SPY) | 1.8% | 17.0% |
| Sector (XLE) | 13.8% | 56.0% |
Fundamental Drivers
The 13.3% change in RES stock from 2/28/2026 to 9/4/2026 was primarily driven by a 67.9% change in the company's P/E Multiple.| (LTM values as of) | 2282026 | 9042026 | Change |
|---|---|---|---|
| Stock Price ($) | 5.74 | 6.50 | 13.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,627 | 1,789 | 10.0% |
| Net Income Margin (%) | 2.0% | 1.3% | -35.3% |
| P/E Multiple | 36.5 | 61.2 | 67.9% |
| Shares Outstanding (Mil) | 204 | 215 | -5.2% |
| Cumulative Contribution | 13.3% |
Market Drivers
2/28/2026 to 9/4/2026| Return | Correlation | |
|---|---|---|
| RES | 13.3% | |
| Market (SPY) | 12.6% | -5.1% |
| Sector (XLE) | 15.3% | 58.7% |
Fundamental Drivers
The 40.0% change in RES stock from 8/31/2025 to 9/4/2026 was primarily driven by a 233.8% change in the company's P/E Multiple.| (LTM values as of) | 8312025 | 9042026 | Change |
|---|---|---|---|
| Stock Price ($) | 4.64 | 6.50 | 40.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,427 | 1,789 | 25.4% |
| Net Income Margin (%) | 3.8% | 1.3% | -66.1% |
| P/E Multiple | 18.3 | 61.2 | 233.8% |
| Shares Outstanding (Mil) | 212 | 215 | -1.3% |
| Cumulative Contribution | 40.0% |
Market Drivers
8/31/2025 to 9/4/2026| Return | Correlation | |
|---|---|---|
| RES | 40.0% | |
| Market (SPY) | 20.4% | 8.8% |
| Sector (XLE) | 45.1% | 49.4% |
Fundamental Drivers
The -11.8% change in RES stock from 8/31/2023 to 9/4/2026 was primarily driven by a -92.0% change in the company's Net Income Margin (%).| (LTM values as of) | 8312023 | 9042026 | Change |
|---|---|---|---|
| Stock Price ($) | 7.37 | 6.50 | -11.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,834 | 1,789 | -2.5% |
| Net Income Margin (%) | 16.0% | 1.3% | -92.0% |
| P/E Multiple | 5.4 | 61.2 | 1024.3% |
| Shares Outstanding (Mil) | 216 | 215 | 0.7% |
| Cumulative Contribution | -11.8% |
Market Drivers
8/31/2023 to 9/4/2026| Return | Correlation | |
|---|---|---|
| RES | -11.8% | |
| Market (SPY) | 77.1% | 29.5% |
| Sector (XLE) | 57.5% | 64.7% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| RES Return | 44% | 97% | -16% | -16% | -5% | 21% | 127% |
| Peers Return | 28% | 70% | -2% | -7% | -1% | 50% | 196% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 106% |
Monthly Win Rates [3] | |||||||
| RES Win Rate | 58% | 42% | 42% | 50% | 50% | 44% | |
| Peers Win Rate | 53% | 65% | 40% | 48% | 52% | 69% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 56% | |
Max Drawdowns [4] | |||||||
| RES Max Drawdown | -53% | -53% | -33% | -29% | -38% | -36% | |
| Peers Max Drawdown | -34% | -43% | -31% | -32% | -38% | -31% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: HAL, SLB, BKR, LBRT, PTEN.
[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] 2026 data is for the year up to 9/4/2026 (YTD)
How Low Can It Go
| Event | RES | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -29.3% | -18.8% |
| % Gain to Breakeven | 41.4% | 23.1% |
| Time to Breakeven | 279 days | 79 days |
| 2020 COVID-19 Crash | ||
| % Loss | -54.3% | -33.7% |
| % Gain to Breakeven | 118.9% | 50.9% |
| Time to Breakeven | 301 days | 140 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -27.6% | -12.2% |
| % Gain to Breakeven | 38.1% | 13.9% |
| Time to Breakeven | 7 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -61.8% | -6.8% |
| % Gain to Breakeven | 161.9% | 7.3% |
| Time to Breakeven | 482 days | 15 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -43.7% | -17.9% |
| % Gain to Breakeven | 77.6% | 21.8% |
| Time to Breakeven | 500 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -20.5% | -15.4% |
| % Gain to Breakeven | 25.8% | 18.2% |
| Time to Breakeven | 16 days | 125 days |
In The Past
RPC's stock fell -29.3% during the 2025 US Tariff Shock. Such a loss loss requires a 41.4% gain to breakeven.
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Asset Allocation
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| Event | RES | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -29.3% | -18.8% |
| % Gain to Breakeven | 41.4% | 23.1% |
| Time to Breakeven | 279 days | 79 days |
| 2020 COVID-19 Crash | ||
| % Loss | -54.3% | -33.7% |
| % Gain to Breakeven | 118.9% | 50.9% |
| Time to Breakeven | 301 days | 140 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -27.6% | -12.2% |
| % Gain to Breakeven | 38.1% | 13.9% |
| Time to Breakeven | 7 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -61.8% | -6.8% |
| % Gain to Breakeven | 161.9% | 7.3% |
| Time to Breakeven | 482 days | 15 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -43.7% | -17.9% |
| % Gain to Breakeven | 77.6% | 21.8% |
| Time to Breakeven | 500 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -20.5% | -15.4% |
| % Gain to Breakeven | 25.8% | 18.2% |
| Time to Breakeven | 16 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -56.1% | -53.4% |
| % Gain to Breakeven | 127.5% | 114.4% |
| Time to Breakeven | 317 days | 1085 days |
| Summer 2007 Credit Crunch | ||
| % Loss | -30.0% | -8.6% |
| % Gain to Breakeven | 42.9% | 9.5% |
| Time to Breakeven | 256 days | 47 days |
In The Past
RPC's stock fell -29.3% during the 2025 US Tariff Shock. Such a loss loss requires a 41.4% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About RPC (RES)
RPC, Inc. (RES) is a global provider of essential oilfield services and equipment, primarily serving oil and gas companies involved in the exploration, production, and development of oil and gas properties. The company plays a crucial role in enabling its customers to efficiently extract and maintain hydrocarbon resources from wells.
RPC operates through two main segments. Its Technical Services segment offers specialized services vital for the completion, production, and maintenance of wells, including pressure pumping, hydraulic fracturing, acidizing, cementing, coiled tubing, and well control. The Support Services segment provides a comprehensive range of rental tools for onshore and offshore drilling, completion, and workover activities, alongside critical services like oilfield pipe inspection, management, and storage, as well as well control training.
With a broad operational footprint, RPC serves customers across significant oil and gas regions, including the United States, Canada, Latin America, Africa, the Middle East, and parts of Asia and Eastern Europe. Its diverse offerings cater to the intricate needs of its upstream oil and gas clients, supporting their operations from initial drilling to ongoing maintenance.
AI Analysis | Feedback
RPC is like:
- A smaller Schlumberger or Halliburton, providing a range of specialized services and equipment for oil and gas wells.
- The Caterpillar for the oil and gas industry, offering essential heavy equipment and technical services to support well operations.
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Technical Services
- Pressure Pumping & Fracturing: Services involving the injection of fluids at high pressure to stimulate oil and gas wells.
- Acidizing & Cementing: Chemical treatments (acidizing) and wellbore sealing (cementing) services for well completion and maintenance.
- Downhole Tools: Specialized equipment and services for operations performed within the wellbore.
- Coiled Tubing & Snubbing: Interventional services using flexible tubing or specialized equipment to perform wellbore operations under pressure.
- Nitrogen Services: Use of nitrogen for wellbore displacement, cleanouts, or pressure control.
- Well Control Services: Services and equipment designed to prevent uncontrolled flow of formation fluids from a well.
- Wireline & Pump Down Services: Services involving the use of a wireline or fluid pumping to convey tools and equipment into wells.
- Fishing Services: Retrieval of lost or stuck equipment from a wellbore.
Support Services
- Oilfield Equipment Rental: Provides a wide range of tools and equipment for drilling, completion, and workover activities.
- Pipe Inspection & Management: Services for inspecting, managing, and storing oilfield pipes.
- Well Control Training & Consulting: Offers educational programs and expert advice on well control procedures and safety.
AI Analysis | Feedback
RPC, Inc. (symbol: RES) primarily sells its oilfield services and equipment to other companies.
Based on the company's public filings, RPC serves a diverse customer base consisting of independent and major oil and natural gas exploration and production companies. However, RPC explicitly states that no single customer accounts for a material portion of its consolidated revenues. As such, the company does not have "major customers" in the sense of individually identifiable entities contributing a significant percentage of its sales that are publicly disclosed. Therefore, specific names of major customer companies cannot be provided.
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Ben M. Palmer President and Chief Executive Officer
Mr. Palmer has served as President and Chief Executive Officer of RPC, Inc. since May 17, 2022. He previously held the position of Vice President, Chief Financial Officer, and Treasurer of RPC, Inc. starting in 1996, and also assumed the role of Corporate Secretary in 2018. Additionally, he serves as the President and Chief Executive Officer of Marine Products Corporation, an affiliated company, where he previously was Vice President, Chief Financial Officer, Treasurer, and Corporate Secretary. Before joining RPC, Inc., Mr. Palmer spent three years as the CFO of EQ Services, a commercial mortgage and asset management subsidiary of The Equitable Companies. His career also includes ten years with Arthur Andersen LLP in its audit and business advisory services division. He holds a Bachelor of Science in Business Administration from Auburn University.
Michael L. Schmit Vice President, Chief Financial Officer, Treasurer and Corporate Secretary
Mr. Schmit was appointed Vice President, Chief Financial Officer, Treasurer, and Corporate Secretary of RPC, Inc. on May 17, 2022. He also holds the same positions at Marine Products Corporation. Prior to joining RPC, Inc., he was Chief Accounting Officer at Schweitzer-Mauduit International, Inc. (SWM International), a global performance materials engineering and manufacturing company, since 2019. He previously served as Chief Accounting Officer and Corporate Controller of Chart Industries. Earlier in his career, Mr. Schmit worked in various financial and risk management roles for other public and private companies, including Georgia-Pacific, LLC, and spent time in public accounting with Ernst & Young in both the U.S. and Australia. He earned a B.S. in Business Administration with a major in accounting from the University of Nebraska and is a CPA.
Richard A. Hubbell Executive Chairman of the Board
Mr. Hubbell has served as Executive Chairman of the Board of RPC, Inc. since May 17, 2022. He previously held the roles of President of RPC, Inc. since 1987 and Chief Executive Officer from 2003 until May 17, 2022. Mr. Hubbell joined Rollins, Inc., the company from which RPC, Inc. was spun off, in 1970 and served as Executive Vice President of Rollins Communications, Inc. He is also the Executive Chairman of the Board at Marine Products Corporation, where he was previously President and Chief Executive Officer since its spin-off in 2001. He received a Bachelor of Arts in Economics from Westminster College.
AI Analysis | Feedback
The key risks to RPC, Inc.'s business are primarily driven by the cyclical nature of the oil and gas industry and the competitive landscape in which it operates.
- Industry Volatility and Dependence on Oil and Natural Gas Prices: The demand for RPC's oilfield services and equipment is directly tied to the capital spending of oil and gas companies, which in turn is heavily influenced by the volatile prices of oil and natural gas and the overall performance of the U.S. economy. This unpredictability can significantly impact RPC's operations and financial performance.
- Intense Competition and Pricing Pressures: RPC operates in a highly competitive oilfield services market, contending with both large integrated service providers and smaller specialized firms. This intense competition leads to pricing pressures, particularly in key service lines such as pressure pumping, which can negatively affect the company's profitability and margins.
- Dependence on a Limited Number of Customers: While having major clients can be advantageous, a significant reliance on a single customer for a substantial portion of revenue poses a risk. Should such a relationship falter, it could lead to instability in RPC's revenue streams.
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The accelerating global energy transition, driven by increasing investment in renewable energy sources and widespread decarbonization initiatives, poses an emerging threat to RPC. As the world shifts away from fossil fuels, the long-term demand for oil and gas exploration, production, and development services, which form the core of RPC's business, could significantly diminish.
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Addressable Markets for RPC, Inc. (RES) Main Products and Services
Technical Services Segment
- Pressure Pumping (includes Fracturing):
- Global market size was valued at USD 100.47 billion in 2025 and is projected to reach USD 167.52 billion by 2033. North America is expected to maintain its dominance in this market.
- The global hydraulic fracturing market size was valued at USD 64.41 billion in 2025 and is predicted to increase to approximately USD 142.4 billion by 2035. Asia Pacific led the global market with a 60% share in 2025.
- Acidizing: null
- Cementing:
- The global well cementing market size was valued at USD 10.99 billion in 2025 and is projected to grow to USD 21.39 billion by 2034. North America dominated the well cementing market with a market share of 42.50% in 2025.
- Downhole Tools:
- The global downhole tools market size was estimated at USD 6.1 billion in 2024 and is expected to grow to USD 7.8 billion by 2029. North America held the largest share of 34.9% of the global market in 2025.
- Coiled Tubing:
- The coiled tubing services market size is estimated at USD 7.66 billion in 2025 and is expected to reach USD 9.86 billion by 2030. North America accounted for 43.8% of the market share in 2024.
- Snubbing: null
- Nitrogen: null
- Well Control: null
- Wireline:
- The Wireline Services Market was valued at USD 25.61 billion in 2024 and is poised to grow from USD 27.32 billion in 2025 to USD 45.9 billion by 2033.
- Pump Down: null
- Fishing Services: null
Support Services Segment
- Rental Tools (Oilfield Equipment Rental):
- The global Oilfield Equipment Rental Services Market size was valued at USD 28.2 billion in 2024 and is poised to grow from USD 30.0 billion in 2025 to USD 49.29 billion by 2033. North America dominates the market in 2025.
- Oilfield Pipe Inspection:
- The global Oil and Gas Pipeline Inspection Service Market is projected to reach USD 11.25 billion in 2026, and is projected to hit USD 14.96 billion by 2035. North America dominates this market.
- Pipe Management and Storage Services:
- The global pipeline integrity management market is calculated at USD 2.42 billion in 2025 and is predicted to increase to approximately USD 3.80 billion by 2035. North America dominated the global market with the largest market share of 40% in 2025.
- Well Control Training and Consulting Services: null
Overall Oilfield Services Market
- The global oilfield services market size was estimated at USD 140.43 billion in 2024 and is projected to reach USD 196.22 billion by 2032.
- 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 Analysis | Feedback
RPC, Inc. (RES) is expected to drive future revenue growth over the next 2-3 years through several key strategies and market dynamics:
- Strategic Acquisitions, notably Pintail Completions: The acquisition of Pintail Completions, finalized on April 1, 2025, significantly contributed to RPC's 2025 revenue growth and is anticipated to continue bolstering its presence and service diversity, particularly in wireline services, within the Permian Basin. This acquisition is expected to be accretive to earnings per share and cash flow.
- Diversification and Emphasis on Less Capital-Intensive and Specialized Technical Service Lines: RPC is strategically focusing on expanding its less capital-intensive service lines and specialized technical services. Specific growth has been noted in services such as cementing, snubbing, and well control. The company expects the delivery of a custom big bore snubbing unit in 2026 to support a long-term customer in gas storage maintenance.
- Expansion of Downhole Tool Offerings and Technology: Growth is expected from the continued market penetration of Thru Tubing Solutions, including its A-10 downhole motor and the expansion of the Metal Max product into new markets. Additionally, the ongoing marketing and increasing adoption of the UnPlug technology are considered drivers for new product and service growth within downhole tools.
- Capitalizing on Increased Permian Basin Operator Activity: While facing some recent declines, management anticipates that wireline services, particularly through Pintail Completions (the largest wireline provider in the Permian Basin), will closely track the activity levels of large operators in the Permian Basin in 2026. This suggests revenue growth tied to increased exploration and production activities by key customers in this significant region.
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Share Repurchases
- RPC, Inc. repurchased approximately $11.34 million in shares during the first quarter of 2023.
- In the fourth quarter of 2023, the company bought back approximately $8.65 million in shares.
- During the first quarter of 2024, share repurchases amounted to approximately $9.86 million.
Share Issuance
- The number of shares outstanding for RPC, Inc. was approximately 213 million at the end of 2022 and 2021.
- Shares outstanding increased to approximately 213 million by the end of 2023.
- By the fourth quarter of 2025, RPC, Inc. had approximately 222 million shares outstanding, an increase of 0.5% from the prior quarter.
Outbound Investments
- On April 1, 2025, RPC, Inc. finalized the acquisition of Pintail Completions.
- This acquisition bolstered RPC's presence in the Permian Basin and diversified its service offerings.
- The Pintail Completions acquisition contributed $98.9 million to revenue in the second quarter of 2025 and $295.8 million to full-year 2025 revenue.
Capital Expenditures
- Full-year capital expenditures for RPC, Inc. in 2025 totaled $148 million.
- These capital expenditures primarily focused on maintenance, opportunistic asset purchases, and upgrades to ERP and other IT systems.
- For 2026, expected capital expenditures are projected to be between $150 million and $180 million, with management indicating adjustments based on activity levels.
Peer Outperformance in Oil & Gas Equipment & Services
RES has trailed 73% of its 33 Oil & Gas Equipment & Services peers over 5Y. Among the peers that beat it are WFRD and HAL. Oil & Gas Equipment & Services ranks 4th of 7 industries in Energy by median 5Y return. The sector’s gains have largely come from elsewhere.
Share of Oil & Gas Equipment & Services constituents that RES has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
34%
of 38 industry peers · 39.1% return
3Y
22%
of 37 industry peers · -14.7% return
5Y
27%
of 33 industry peers · 78.4% return
Oil & Gas Equipment & Services peers with revenue growth within 4pp of RES's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
| Ticker | Name | Rev Growth 3Y Avg | P/E | 1Y | 3Y | 5Y | 5Y Gap |
|---|---|---|---|---|---|---|---|
| RES | RPC | 0.9% | 61.2x | 39.1% | -14.7% | 78.4% | — |
| WFRD | Weatherford International | 0.3% | 18.8x | 54.8% | 8.8% | 542.1% | +464pp |
| HAL | Halliburton | 0.0% | 19.3x | 68.3% | -2.5% | 102.6% | +24pp |
Price returns, excluding dividends. P/E shown for context only and not used for matching.
Median price return by industry across the Energy sector, ranked by 5Y. Oil & Gas Equipment & Services is RES's own industry. Use this to see which corners of the sector have carried the returns.
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Oil & Gas Refining & Marketing | 11 | 111.1% | 113.5% | 407.7% | PBF 768% · MPC 646% · VLO 569% |
| Integrated Oil & Gas | 7 | 48.0% | 55.0% | 246.3% | IMO 432% · SU 346% · CVE 319% |
| Oil & Gas Storage & Transportation | 18 | 34.5% | 116.5% | 227.7% | INSW 828% · LPG 783% · TRGP 615% |
| Oil & Gas Equipment & Services ← | 34 | 60.6% | 22.0% | 125.2% | FTI 1129% · SEI 775% · TDW 725% |
| Coal & Consumable Fuels | 14 | 30.6% | 55.2% | 112.0% | EU 1144% · LEU 450% · CCJ 373% |
| Oil & Gas Exploration & Production | 51 | 29.2% | 5.4% | 110.9% | KGEI 8100% · OBE 7152% · EP 3033% |
| Oil & Gas Drilling | 7 | 72.6% | 0.7% | 100.8% | VAL 188% · PDS 168% · NE 116% |
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| RPC Earnings Notes | 12/16/2025 | |
| With RPC Stock Surging, Have You Considered The Downside? | 10/17/2025 | |
| RPC (RES) Operating Cash Flow Comparison | 08/08/2025 | |
| RPC (RES) Debt Comparison | 08/08/2025 | |
| RPC (RES) Net Income Comparison | 08/08/2025 | |
| RPC (RES) Operating Income Comparison | 08/08/2025 | |
| RPC (RES) Revenue Comparison | 08/08/2025 | |
| RPC (RES) EBITDA Comparison | 08/08/2025 | |
| RPC (RES) Tax Expense Comparison | 08/08/2025 | |
| Why RPC Stock Moved: RES Stock Has Lost 33% Since 2022 Fiscal End, Primarily Due To Unfavorable Change In Price To Sales Multiple (P/S) | 08/08/2025 |
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 28.83 |
| Mkt Cap | 17.9 |
| Rev LTM | 13,523 |
| Op Inc LTM | 1,497 |
| FCF LTM | 951 |
| FCF 3Y Avg | 1,200 |
| CFO LTM | 1,742 |
| CFO 3Y Avg | 2,173 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 1.5% |
| Rev Chg 3Y Avg | 3.1% |
| Rev Chg Q | 4.3% |
| QoQ Delta Rev Chg LTM | 1.1% |
| Op Inc Chg LTM | -8.9% |
| Op Inc Chg 3Y Avg | -18.6% |
| Op Mgn LTM | 8.0% |
| Op Mgn 3Y Avg | 9.3% |
| QoQ Delta Op Mgn LTM | -0.2% |
| CFO/Rev LTM | 14.0% |
| CFO/Rev 3Y Avg | 17.5% |
| FCF/Rev LTM | 5.8% |
| FCF/Rev 3Y Avg | 7.8% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Technical Services | 1,536 | 1,326 | 1,516 | 1,516 | 815 |
| Support Services | 91 | 89 | 101 | 85 | 50 |
| Corporate | 0 | ||||
| Gain on disposition of assets, net | 0 | ||||
| Pension Settlement charges | 0 | ||||
| Total | 1,627 | 1,415 | 1,617 | 1,602 | 865 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Technical Services | 68 | 89 | 246 | 282 | 24 |
| Support Services | 14 | 16 | 26 | 18 | -6 |
| Gain on disposition of assets, net | 8 | 8 | 9 | 9 | 11 |
| Acquisition related employment costs | -20 | ||||
| Unallocated corporate expenses | -25 | -16 | -18 | -18 | |
| Pension Settlement charges | -18 | -3 | 0 | ||
| Corporate | -13 | ||||
| Total | 45 | 98 | 245 | 288 | 16 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Technical Services | 1,064 | 895 | 868 | 823 | 580 |
| Unallocated | 303 | 406 | 225 | ||
| Support Services | 102 | 86 | 82 | 80 | 69 |
| Corporate | 338 | 215 | |||
| Gain on disposition of assets, net | 0 | 0 | |||
| Pension Settlement charges | 0 | 0 | |||
| Total | 1,468 | 1,386 | 1,287 | 1,129 | 864 |
Price Behavior
Price Behavior
| Market Price | $6.50 | |
| Market Cap ($ Bil) | 1.4 | |
| First Trading Date | 12/30/1987 | |
| Distance from 52W High | -17.7% | |
| 50 Days | 200 Days | |
| DMA Price | $5.95 | $6.22 |
| DMA Trend | up | down |
| Distance from DMA | 9.3% | 4.5% |
| 3M | 1YR | |
| Volatility | 44.0% | 47.2% |
| Downside Capture | 63.64 | 19.94 |
| Upside Capture | 32.70 | 54.07 |
| Correlation (SPY) | 17.9% | 9.4% |
RES Betas & Captures as of 8/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.03 | 0.99 | 0.65 | -0.15 | 0.34 | 0.87 |
| Up Beta | 2.10 | 3.44 | 0.28 | -1.02 | -0.27 | 0.93 |
| Down Beta | 4.36 | 1.31 | 0.66 | 0.06 | 0.84 | 1.36 |
| Up Capture | 125% | 45% | 72% | 21% | 46% | 19% |
| Bmk +ve Days | 10 | 21 | 32 | 68 | 138 | 427 |
| Stock +ve Days | 12 | 23 | 32 | 64 | 132 | 365 |
| Down Capture | -227% | -87% | 84% | -3% | 27% | 86% |
| Bmk -ve Days | 11 | 21 | 32 | 59 | 113 | 324 |
| Stock -ve Days | 7 | 17 | 30 | 61 | 113 | 365 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with RES | |
|---|---|---|---|---|
| RES | 39.3% | 47.2% | 0.85 | - |
| Sector ETF (XLE) | 47.5% | 21.7% | 1.70 | 49.0% |
| Equity (SPY) | 19.7% | 12.8% | 1.13 | 8.7% |
| Gold (GLD) | 24.6% | 29.2% | 0.75 | -2.2% |
| Commodities (DBC) | 44.1% | 20.4% | 1.69 | 40.2% |
| Real Estate (VNQ) | 9.1% | 13.6% | 0.39 | -1.8% |
| Bitcoin (BTCUSD) | -26.9% | 43.8% | -0.59 | 14.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with RES | |
|---|---|---|---|---|
| RES | 12.4% | 52.0% | 0.41 | - |
| Sector ETF (XLE) | 25.4% | 25.7% | 0.86 | 69.6% |
| Equity (SPY) | 12.8% | 17.2% | 0.57 | 30.0% |
| Gold (GLD) | 19.1% | 18.8% | 0.82 | 7.9% |
| Commodities (DBC) | 10.7% | 19.5% | 0.43 | 49.4% |
| Real Estate (VNQ) | 1.7% | 18.9% | -0.01 | 21.8% |
| Bitcoin (BTCUSD) | 10.6% | 52.6% | 0.38 | 13.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with RES | |
|---|---|---|---|---|
| RES | -7.0% | 57.4% | 0.11 | - |
| Sector ETF (XLE) | 10.6% | 29.6% | 0.39 | 66.2% |
| Equity (SPY) | 15.3% | 17.9% | 0.72 | 31.1% |
| Gold (GLD) | 12.4% | 16.3% | 0.62 | 3.6% |
| Commodities (DBC) | 7.9% | 18.1% | 0.35 | 47.8% |
| Real Estate (VNQ) | 4.8% | 20.7% | 0.19 | 23.1% |
| Bitcoin (BTCUSD) | 64.0% | 66.2% | 1.04 | 9.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 9/1/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/30/2026 | 5.9% | 13.1% | 25.9% |
| 5/7/2026 | -3.4% | -5.4% | -7.2% |
| 2/3/2026 | -17.4% | -13.6% | -6.4% |
| 10/30/2025 | 11.8% | 8.2% | 8.4% |
| 7/24/2025 | -3.8% | -4.6% | -10.0% |
| 4/24/2025 | 0.8% | -4.1% | -7.3% |
| 1/30/2025 | -3.9% | -3.1% | -12.5% |
| 10/24/2024 | -4.6% | -8.7% | -1.6% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 12 | 10 | 11 |
| # Negative | 12 | 14 | 13 |
| Median Positive | 8.0% | 14.3% | 8.8% |
| Median Negative | -4.3% | -5.0% | -10.1% |
| Max Positive | 20.1% | 30.2% | 65.1% |
| Max Negative | -17.4% | -17.3% | -25.8% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/30/2026 | 5.9% | 13.1% | 25.9% |
| 5/7/2026 | -3.4% | -5.4% | -7.2% |
| 2/3/2026 | -17.4% | -13.6% | -6.4% |
| 10/30/2025 | 11.8% | 8.2% | 8.4% |
| 7/24/2025 | -3.8% | -4.6% | -10.0% |
| 4/24/2025 | 0.8% | -4.1% | -7.3% |
| 1/30/2025 | -3.9% | -3.1% | -12.5% |
| 10/24/2024 | -4.6% | -8.7% | -1.6% |
| 7/25/2024 | 20.1% | 29.5% | 8.8% |
| 4/25/2024 | -7.1% | -17.3% | -14.1% |
| 1/25/2024 | 6.1% | 5.9% | 5.7% |
| 10/25/2023 | 0.7% | -4.3% | -15.3% |
| 7/26/2023 | -5.9% | -8.9% | -10.1% |
| 4/26/2023 | -0.4% | -8.0% | 1.4% |
| 1/25/2023 | 11.8% | 15.5% | 2.1% |
| 10/26/2022 | 9.9% | 19.4% | 0.7% |
| 7/27/2022 | 18.5% | 17.6% | 28.3% |
| 4/27/2022 | -5.8% | -2.4% | -14.6% |
| 1/26/2022 | 3.5% | 5.1% | 34.7% |
| 10/27/2021 | -0.7% | -7.4% | -25.8% |
| 7/28/2021 | -1.6% | -3.9% | -14.1% |
| 4/28/2021 | 3.0% | 6.8% | -1.6% |
| 1/27/2021 | 16.5% | 30.2% | 65.1% |
| 10/28/2020 | -11.7% | -3.4% | 36.2% |
| SUMMARY STATS | |||
| # Positive | 12 | 10 | 11 |
| # Negative | 12 | 14 | 13 |
| Median Positive | 8.0% | 14.3% | 8.8% |
| Median Negative | -4.3% | -5.0% | -10.1% |
| Max Positive | 20.1% | 30.2% | 65.1% |
| Max Negative | -17.4% | -17.3% | -25.8% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/30/2026 | 10-Q |
| 03/31/2026 | 05/08/2026 | 10-Q |
| 12/31/2025 | 02/27/2026 | 10-K |
| 09/30/2025 | 10/30/2025 | 10-Q |
| 06/30/2025 | 07/24/2025 | 10-Q |
| 03/31/2025 | 04/24/2025 | 10-Q |
| 12/31/2024 | 02/28/2025 | 10-K |
| 09/30/2024 | 10/24/2024 | 10-Q |
| 06/30/2024 | 07/25/2024 | 10-Q |
| 03/31/2024 | 04/25/2024 | 10-Q |
| 12/31/2023 | 02/28/2024 | 10-K |
| 09/30/2023 | 10/26/2023 | 10-Q |
| 06/30/2023 | 07/28/2023 | 10-Q |
| 03/31/2023 | 04/28/2023 | 10-Q |
| 12/31/2022 | 02/27/2023 | 10-K |
| 09/30/2022 | 10/28/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/30/2026 | 10-Q |
| 03/31/2026 | 05/08/2026 | 10-Q |
| 12/31/2025 | 02/27/2026 | 10-K |
| 09/30/2025 | 10/30/2025 | 10-Q |
| 06/30/2025 | 07/24/2025 | 10-Q |
| 03/31/2025 | 04/24/2025 | 10-Q |
| 12/31/2024 | 02/28/2025 | 10-K |
| 09/30/2024 | 10/24/2024 | 10-Q |
| 06/30/2024 | 07/25/2024 | 10-Q |
| 03/31/2024 | 04/25/2024 | 10-Q |
| 12/31/2023 | 02/28/2024 | 10-K |
| 09/30/2023 | 10/26/2023 | 10-Q |
| 06/30/2023 | 07/28/2023 | 10-Q |
| 03/31/2023 | 04/28/2023 | 10-Q |
| 12/31/2022 | 02/27/2023 | 10-K |
| 09/30/2022 | 10/28/2022 | 10-Q |
| 06/30/2022 | 07/29/2022 | 10-Q |
| 03/31/2022 | 04/29/2022 | 10-Q |
| 12/31/2021 | 02/28/2022 | 10-K |
| 09/30/2021 | 10/29/2021 | 10-Q |
| 06/30/2021 | 07/30/2021 | 10-Q |
| 03/31/2021 | 04/30/2021 | 10-Q |
| 12/31/2020 | 02/26/2021 | 10-K |
| 09/30/2020 | 10/30/2020 | 10-Q |
| 06/30/2020 | 07/31/2020 | 10-Q |
| 03/31/2020 | 05/08/2020 | 10-Q |
| 12/31/2019 | 02/28/2020 | 10-K |
| 09/30/2019 | 10/31/2019 | 10-Q |
Industry Resources
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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