Patterson-UTI Energy Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Patterson-UTI Energy Inc reported revenue of $4.8B (-10.3% year on year) and net income of ($93.6M) (+90.3% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Total operating revenues | $4.8B | $5.4B | $4.1B | $2.6B |
| Operating costs and expenses | $3.7B | $3.9B | $2.8B | $1.8B |
| Depreciation, depletion, amortization and impairment | $940.3M | $1.2B | $731.4M | $483.9M |
| Impairment of goodwill | $0 | $885.2M | — | $0 |
| Selling, general and administrative | $255.1M | $268.3M | $170.0M | $116.6M |
| Merger and integration expense | $1.0M | $33.0M | $98.1M | $2.1M |
| Other operating expense (income), net | $14.6M | ($10.7M) | ($17.1M) | ($12.6M) |
| Total operating costs and expenses | $4.9B | $6.3B | $3.8B | $2.4B |
| Operating income (loss) | ($40.8M) | ($889.7M) | $352.0M | $211.0M |
| Interest income | $6.6M | $5.7M | $6.1M | $360.0K |
| Interest expense, net of amount capitalized | ($70.5M) | ($72.0M) | ($52.9M) | ($40.3M) |
| Other income (expense) | $1.7M | ($975.0K) | — | — |
| Total other income (expense) | ($62.2M) | ($67.2M) | ($44.9M) | ($43.2M) |
| Income (loss) before income taxes | ($103.0M) | ($956.9M) | $307.1M | $167.9M |
| Income tax expense (benefit) | ($9.9M) | $9.5M | $61.2M | $13.2M |
| Net income (loss) | ($93.1M) | ($966.4M) | $246.0M | — |
| Net income (loss) attributable to noncontrolling interest | $581.0K | $1.6M | ($340.0K) | — |
| Net income (loss) attributable to common stockholders | ($93.6M) | ($968.0M) | $246.3M | $154.7M |
| Basic (in usd per share) | -$0.24 | -$2.44 | $0.88 | $0.72 |
| Diluted (in usd per share) | -$0.24 | -$2.44 | $0.88 | $0.70 |
| Basic (in shares) | 383.5M | 397.2M | 279.5K | 215.9K |
| Diluted (in shares) | 383.5M | 397.2M | 280.1K | 219.5K |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Revenues | $1.2B | $1.1B | $1.2B | $1.2B |
| Operating costs and expenses | $947.3M | $849.2M | $893.8M | $929.4M |
| Depreciation, depletion, amortization and impairment | $217.8M | $218.4M | $225.6M | $261.9M |
| General and administrative | $67.5M | $68.8M | — | — |
| Other operating expense (income), net | $2.3M | ($4.7M) | $22.5M | ($7.0M) |
| Total operating costs and expenses | $1.2B | $1.1B | $1.2B | $1.2B |
| Operating income (loss) | ($7.0M) | ($14.3M) | ($28.1M) | ($29.5M) |
| Interest income | $2.9M | $2.8M | $1.5M | $1.3M |
| Interest expense, net of amount capitalized | ($20.4M) | ($17.5M) | ($17.5M) | ($17.6M) |
| Other income (expense) | ($3.5M) | $965.0K | $1.0M | ($1.6M) |
| Total other income (expense) | ($21.0M) | ($13.8M) | ($15.0M) | ($18.0M) |
| Income (loss) before income taxes | ($27.9M) | ($28.1M) | ($43.0M) | ($47.5M) |
| Income tax expense (benefit) | ($8.6M) | ($3.6M) | ($6.6M) | $1.2M |
| Net income (loss) | ($19.3M) | ($24.5M) | ($36.5M) | ($48.7M) |
| Net income (loss) attributable to noncontrolling interest | $327.0K | $151.0K | ($48.0K) | $447.0K |
| Net income (loss) attributable to common stockholders | ($19.6M) | ($24.6M) | ($36.4M) | ($49.1M) |
| Basic (in usd per share) | -$0.05 | -$0.06 | -$0.10 | -$0.13 |
| Diluted (in usd per share) | -$0.05 | -$0.06 | -$0.10 | -$0.13 |
| Basic (in shares) | 380.2M | 379.6M | 382.8M | 385.4M |
| Diluted (in shares) | 380.2M | 379.6M | 382.8M | 385.4M |
| Cash dividends per common share (in usd per share) | $0.10 | $0.10 | $0.08 | $0.08 |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Cash, cash equivalents and restricted cash | $420.6M | $241.3M | $192.7M | — |
| Accounts receivable, net of allowance for credit losses of $14,469 and $15,047 at December 31, 2025 and 2024, respectively | $723.3M | $763.8M | $971.1M | $565.5M |
| Inventory | $160.3M | $167.0M | $180.8M | $58.0M |
| Other current assets | $113.9M | $123.2M | $141.1M | $67.9M |
| Total current assets | $1.4B | $1.3B | $1.5B | $829.4M |
| Property and equipment, net | $2.7B | $3.0B | $3.3B | $2.3B |
| Operating lease right of use asset | $43.0M | $44.4M | $47.6M | $20.8M |
| Finance lease right of use asset | $14.9M | $27.0M | $63.2M | — |
| Goodwill | $487.4M | $487.4M | $1.4B | — |
| Intangible assets, net | $814.8M | $929.6M | $1.1B | $5.8M |
| Deposits on equipment purchases | $11.8M | $15.7M | $28.3M | $13.1M |
| Other assets | $69.5M | $23.7M | $19.4M | $10.9M |
| Total assets | $5.6B | $5.8B | $7.4B | $3.1B |
| Accounts payable | $470.8M | $421.3M | $534.4M | $237.1M |
| Accrued liabilities | $366.5M | $385.8M | $446.3M | $304.1M |
| Operating lease liability | $18.7M | $13.3M | $13.5M | $5.1M |
| Finance lease liability | $7.7M | $15.2M | $44.0M | — |
| Current maturities of long-term debt | $0 | $6.4M | $12.2M | — |
| Total current liabilities | $863.6M | $842.0M | $1.1B | $551.0M |
| Long-term operating lease liability | $27.6M | $34.3M | $37.8M | $19.6M |
| Long-term finance lease liability | $5.5M | $10.2M | $13.0M | — |
| Long-term debt, net of debt discount and issuance costs of $6,362 and $7,637 at December 31, 2025 and 2024, respectively | $1.2B | $1.2B | $1.2B | $830.9M |
| Deferred tax liabilities, net | $215.8M | $238.1M | $248.1M | $28.7M |
| Other liabilities | $12.2M | $13.2M | $25.1M | $48.1M |
| Total liabilities | $2.3B | $2.4B | $2.6B | $1.5B |
| Preferred stock, par value $0.01; authorized 1,000,000 shares, no shares issued | 0 | 0 | 0 | 0 |
| Common stock, par value $0.01; authorized 800,000,000 and 800,000,000 shares with 523,736,898 and 520,784,783 issued and 379,301,646 and 387,344,755 outstanding at December 31, 2025 and 2024, respectively | 5.2M | 5.2M | 5.2M | 3.0M |
| Additional paid-in capital | $6.5B | $6.5B | $6.4B | $3.2B |
| Retained earnings (deficit) | ($1.3B) | ($1.0B) | $57.0M | ($87.4M) |
| Accumulated other comprehensive income (loss) | ($1.2M) | ($2.6M) | $472.0K | $0 |
| Treasury stock, at cost, 144,435,252 shares and 133,440,028 shares at December 31, 2025 and 2024, respectively | -2.0B | -2.0B | -1.7B | -1.5B |
| Total stockholders’ equity attributable to controlling interests | $3.2B | $3.5B | $4.8B | $1.7B |
| Noncontrolling interest | $6.2M | $10.0M | $8.4M | — |
| Total equity | $3.2B | $3.5B | $4.8B | — |
| Total liabilities and stockholders’ equity | $5.6B | $5.8B | $7.4B | $3.1B |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Cash, cash equivalents and restricted cash | $203.2M | $337.2M | $186.9M | $185.9M |
| Accounts receivable, net of allowance for credit losses of $16,442 and $14,469 at June 30, 2026 and December 31, 2025, respectively | $919.7M | $742.4M | $800.4M | $770.9M |
| Inventory | $140.8M | $150.6M | $155.9M | $163.7M |
| Other current assets | $108.6M | $92.1M | $134.2M | $120.6M |
| Total current assets | $1.4B | $1.3B | $1.3B | $1.2B |
| Property and equipment, net | $2.6B | $2.6B | $2.8B | $2.8B |
| Operating lease right of use asset | $42.1M | $38.0M | $43.2M | $41.7M |
| Finance lease right of use asset | $8.2M | $7.8M | $22.0M | $22.7M |
| Goodwill | $487.4M | $487.4M | $487.4M | $487.4M |
| Intangible assets, net | $755.2M | $784.2M | $843.0M | $872.0M |
| Deposits on equipment purchases | $20.0M | $14.2M | $11.1M | $19.0M |
| Other assets | $89.2M | $78.7M | $63.4M | $56.4M |
| Total assets | $5.4B | $5.4B | $5.5B | $5.6B |
| Accounts payable | $513.2M | $442.4M | $461.3M | $426.5M |
| Accrued liabilities | $248.3M | $256.3M | $283.9M | $261.7M |
| Operating lease liability | $17.0M | $15.8M | $17.2M | $15.1M |
| Finance lease liability | $5.6M | $5.7M | $15.4M | $13.2M |
| Total current liabilities | $784.1M | $720.3M | $777.8M | $716.5M |
| Long-term operating lease liability | $27.6M | $25.1M | $29.1M | $29.6M |
| Long-term finance lease liability | $1.2M | $928.0K | $5.8M | $8.6M |
| Long-term debt, net of debt discount and issuance costs of $10,722 and $6,362 at June 30, 2026 and December 31, 2025, respectively | $1.2B | $1.2B | $1.2B | $1.2B |
| Deferred tax liabilities, net | $203.2M | $212.0M | $232.8M | $240.1M |
| Other liabilities | $15.8M | $15.2M | $11.7M | $11.8M |
| Total liabilities | $2.3B | $2.2B | $2.3B | $2.2B |
| Common stock, par value $0.01; authorized 800,000,000 shares with 526,633,185 and 523,736,898 issued and 381,380,305 and 379,301,646 outstanding at June 30, 2026 and December 31, 2025, respectively | 5.3M | 5.2M | 5.2M | 5.2M |
| Additional paid-in capital | $6.5B | $6.5B | $6.5B | $6.5B |
| Retained earnings (deficit) | ($1.4B) | ($1.3B) | ($1.2B) | ($1.2B) |
| Accumulated other comprehensive income (loss) | ($2.3M) | ($1.7M) | ($1.8M) | ($1.0M) |
| Treasury stock, at cost, 145,252,880 and 144,435,252 shares at June 30, 2026 and December 31, 2025, respectively | -2.0B | -2.0B | -2.0B | -2.0B |
| Total stockholders’ equity attributable to controlling interests | $3.1B | $3.2B | $3.2B | $3.3B |
| Noncontrolling interest | $6.7M | $6.3M | $6.3M | $6.3M |
| Total equity | $3.1B | $3.2B | $3.3B | $3.3B |
| Total liabilities and stockholders’ equity | $5.4B | $5.4B | $5.5B | $5.6B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net income (loss) | ($93.1M) | ($966.4M) | $246.0M | $154.7M |
| Depreciation, depletion, amortization and impairment | $940.3M | $1.2B | $731.4M | $483.9M |
| Impairment of goodwill | $0 | $885.2M | — | $0 |
| Deferred income tax expense (benefit) | ($21.7M) | ($1.8M) | $51.9M | $7.0M |
| Stock-based compensation | $39.3M | $46.4M | $46.8M | $21.1M |
| Net gain on asset disposals | ($693.0K) | ($3.7M) | ($1.8M) | ($12.1M) |
| Other | $737.0K | $7.9M | $59.0K | — |
| Accounts receivable | $40.6M | $203.7M | $84.5M | ($209.2M) |
| Inventory | ($1.8M) | ($11.5M) | ($30.8M) | — |
| Other current assets | $16.0M | $19.6M | ($10.4M) | — |
| Other assets | $16.5M | $33.8M | $24.7M | — |
| Accounts payable | $71.3M | ($112.9M) | ($69.7M) | $39.0M |
| Accrued liabilities | ($21.5M) | ($66.6M) | ($23.5M) | $65.1M |
| Other liabilities | ($24.8M) | ($30.1M) | ($42.1M) | $28.2M |
| Net cash provided by operating activities | $961.2M | $1.2B | $1.0B | $566.2M |
| Acquisitions, net of cash acquired - NexTier | $0 | $0 | $0 | $0 |
| Acquisitions, net of cash acquired - Ulterra | $0 | $3.0M | ($65.2M) | — |
| Purchases of property and equipment | ($589.0M) | ($678.4M) | ($615.7M) | ($436.8M) |
| Investment in unconsolidated affiliate | ($10.5M) | — | — | — |
| Proceeds from disposal of assets, including insurance recoveries | $44.1M | $25.8M | — | — |
| Other | ($11.7M) | ($5.2M) | ($5.9M) | ($2.5M) |
| Net cash used in investing activities | ($567.2M) | ($654.7M) | ($1.0B) | ($413.2M) |
| Purchases of treasury stock | ($69.6M) | ($290.4M) | ($200.7M) | ($70.1M) |
| Dividends paid | ($122.5M) | ($126.8M) | ($100.0M) | ($43.1M) |
| Proceeds from borrowings under revolving credit facility | $0 | $50.0M | $420.0M | $150.0M |
| Repayment of borrowings under revolving credit facility | $0 | ($50.0M) | ($420.0M) | ($150.0M) |
| Proceeds from issuance of senior notes | $0 | $0 | $396.4M | — |
| Repayment of senior notes | $0 | $0 | ($7.8M) | ($19.8M) |
| Payments of finance leases | ($7.8M) | ($45.5M) | ($15.9M) | — |
| Other | ($10.8M) | ($12.3M) | ($4.0M) | — |
| Net cash provided by (used in) financing activities | ($210.7M) | ($475.0M) | $65.6M | ($133.4M) |
| Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash | ($4.0M) | $2.8M | $1.2M | $449.0K |
| Net change in cash, cash equivalents and restricted cash | $179.3M | $48.6M | $55.1M | $20.0M |
| Cash, cash equivalents and restricted cash at beginning of year | $241.3M | $192.7M | $137.6M | $117.5M |
| Cash, cash equivalents and restricted cash at end of year | $420.6M | $241.3M | — | — |
| Interest, net of capitalized interest of $734 in 2025, $1,334 in 2024, and $1,692 in 2023 | ($66.9M) | ($68.6M) | ($39.6M) | ($39.9M) |
| Income taxes | ($8.1M) | ($14.8M) | ($27.2M) | ($1.5M) |
| Net decrease in payables for purchases of property and equipment | ($22.0M) | ($133.0K) | ($15.1M) | $8.0M |
| Net decrease in deposits on equipment purchases | $3.9M | $12.6M | $7.9M | ($12.2M) |
| Issuance of common stock for business acquisitions | 0 | 0 | 3.2B | 0 |
| Purchases of property and equipment through exchange of lease right of use asset | $8.1M | $31.0M | $3.2M | — |
| Derecognition of right of use asset | ($8.1M) | ($36.1M) | ($3.2M) | — |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net income (loss) | ($43.8M) | ($24.5M) | ($83.9M) | ($47.4M) |
| Depreciation, depletion, amortization and impairment | $436.2M | $218.4M | $719.3M | $493.7M |
| Deferred income tax expense (benefit) | ($12.6M) | ($3.8M) | ($5.6M) | $1.7M |
| Stock-based compensation | $12.9M | $4.4M | $30.5M | $21.9M |
| Net (gain) loss on asset disposals | $3.6M | $1.9M | ($1.7M) | ($973.0K) |
| Colombia contract drilling exit costs | $20.0M | — | — | — |
| Other | $61.0K | ($1.6M) | $27.0K | ($2.0M) |
| Accounts receivable | ($196.9M) | ($17.8M) | ($37.0M) | ($6.9M) |
| Inventory | ($18.4M) | ($5.7M) | $5.1M | $2.3M |
| Other current assets | $2.6M | $21.8M | ($3.9M) | ($2.0M) |
| Other assets | $13.8M | $4.9M | $9.8M | $3.2M |
| Accounts payable | $32.4M | ($18.6M) | $46.9M | $17.1M |
| Accrued liabilities | ($118.9M) | ($110.3M) | ($104.1M) | ($125.4M) |
| Other liabilities | ($11.2M) | ($5.3M) | ($11.9M) | ($7.5M) |
| Net cash provided by operating activities | $119.9M | $63.9M | $563.7M | $347.9M |
| Purchases of property and equipment | ($272.6M) | ($116.6M) | ($450.5M) | ($306.0M) |
| Proceeds from disposal of assets, including insurance recoveries | $14.9M | $12.2M | $33.2M | $28.3M |
| Other | ($1.6M) | ($1.6M) | ($9.0M) | ($11.5M) |
| Net cash used in investing activities | ($259.3M) | ($106.0M) | ($436.8M) | ($289.2M) |
| Purchases of treasury stock | ($9.5M) | ($350.0K) | ($69.4M) | ($35.8M) |
| Dividends paid | ($76.0M) | ($38.0M) | ($92.1M) | ($61.6M) |
| Net proceeds from issuance of senior notes | $496.0M | — | — | — |
| Repayment of senior notes | ($482.5M) | — | ($6.2M) | ($4.4M) |
| Payments of finance leases | ($3.3M) | ($2.0M) | — | — |
| Other | ($1.9M) | $0 | ($10.8M) | ($10.8M) |
| Net cash used in financing activities | ($77.2M) | ($40.3M) | ($178.6M) | ($112.7M) |
| Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash | ($973.0K) | ($961.0K) | ($2.7M) | ($1.4M) |
| Net change in cash, cash equivalents and restricted cash | ($217.5M) | ($83.4M) | ($54.4M) | ($55.4M) |
| Cash, cash equivalents and restricted cash at beginning of period | $420.6M | $420.6M | $241.3M | $241.3M |
| Cash, cash equivalents and restricted cash at end of period | $203.2M | $337.2M | $186.9M | $185.9M |
| Interest, net of capitalized interest of $155 in 2026 and $443 in 2025 | ($40.1M) | ($10.0M) | ($43.2M) | ($33.4M) |
| Income taxes | $13.3M | $15.4M | ($5.4M) | ($3.1M) |
| Net increase (decrease) in payables for purchases of property and equipment | $10.1M | ($9.8M) | ($7.1M) | ($12.1M) |
| Purchases of property and equipment through exchange of lease right of use asset | $2.9M | $2.9M | $772.0K | $1.0M |
| Derecognition of right of use asset | ($2.9M) | ($6.4M) | ($794.0K) | ($755.0K) |
| Net investment in sales-type leases recognized | $8.9M | — | — | — |
Patterson-UTI Energy Inc score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.