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Patterson-UTI Energy, Inc.
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$4.4B
Market Cap
12.3
P/E
2.45
PEG
-0.9%
ROCE
-2.8%
ROE
0.40
D/E
-0.8%
OPM
-12.2%
% from 52W High
94
α RS
🔍 PTEN is showing a sector-leadership setup because Sector RRG has Energy in the Leading quadrant with the trail still strengthening, it matches 2 of 39 tracked screener presets, RS Rating is 94 (top decile vs market), and it has maintained a 24-day Stage 2 momentum persistence. The main caution: the Graham Defensive preset's Backtest win rate is only 43.6%. Net: Mixed signal stack, not a recommendation. ? RRG Conviction RS Rating Momentum Streaks Backtest
Sources
Energy in Leading quadrant · Conviction 2/39 · RS Rating 94 · Stage 2 streak: 24d · Backtest win rate 43.6%
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🌏 Global Investor Returns
Currency-adjusted total returns for PTEN including FX impact
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📈 Price History
Ratio Health
— Excellent
— Good
— Average
— Poor
By Category
📊 Peer Medians
About

Patterson-UTI Energy, Inc., through its subsidiaries, provides drilling and completion services to oil and natural gas exploration and production companies in the United States, Canada, Colombia, and internationally. It operates through three segments: Drilling Services, Completion Services, and Drilling Products. The Contract Drilling Services segment engages in the provision of contract and directional drilling, and measurement-while-drilling (MWD) services in onshore oil and natural gas basins; supply and rental of downhole performance motors, such as Mpact drilling motors, and Mpower MWD systems; electrical controls and automation to the energy, marine, and mining industries; rig fleet evaluation; and drilling technology service. This segment also provides software and services, such as MWD Survey Fault Detection, Isolation and Recovery (FDIR) services, a data analytics technology to analyze MWD survey data in real-time and identify the position of a well; HiFi Nav, which enhances FDIR by targeting improved vertical placement of the directional well within the reservoir; and HiFi Guidance that utilizes trajectory optimization to determine optimal steering recommendations and placement within the reservoir. The Completion Services segment offers services for hydraulic fracturing, wireline and pumping, completion support, equipment, materials, and cementing, as well as involved in the power solutions natural gas fueling, and last mile logistics and storage businesses. The Drilling Products segment engages in the design, manufacture, sale, and rental of matrix and steel-bodied polycrystalline diamond compact drill bits. It also rents oilfield tools; and offers specialized services for land-based oil and natural gas drilling, completion, and workover activities. The company was founded in 1978 and is headquartered in Houston, Texas.

Key Ratios Snapshot
📈 Growth Pattern
📊 Quick Scorecard
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⭐ Superinvestors Holding PTEN
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Manager Shares Value % of Fund Period
Jim Simons Renaissance Technologies LLC 4.13M $44.7M 0.07% Mar 2026
Steve Cohen Point72 Asset Management 778.9K $8.4M 0.01% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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3-Statement Financial Model
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🎙 Management Tone Confident Vague ~ Volatile 4 quarters Full tone analysis in Intelligence →
📊 MIXED Q1 revenue $1.12B, net loss $25M, rig count to exit Q2 at 92-95.
Revenue & Profitability
Total reported revenue for Q1 2026 was $1,117 million. The company reported a net loss attributable to common shareholders of $25 million, or $0.06 per share. Adjusted EBITDA was $205 million, which included $3 million in early contract termination revenue. Depreciation, depletion, amortization, and impairment totaled $218 million.
Outlook
Management believes U.S. shale activity is inflecting higher, with both current and future oil prices well above customers' initial 2026 budgets. They expect drilling and completion demand to increase in H2 2026, driven by private customers moving faster than publics. Natural gas-directed activity is likely to increase in 2027 as new LNG facilities drive higher export volumes.
Growth Drivers
Growth is driven by rig reactivations (expected exit Q2 at 92-95 rigs), rising completion demand with near full utilization of active assets, and pricing improvements under discussion. International opportunities include Argentina (two drilling rigs shipped) and steady onshore activity in the Middle East. Expansion of the Emerald Fleet (100% natural gas) and technology upgrades are key growth levers.
Balance Sheet & CapEx
Q1 2026 CapEx was $117 million: Drilling Services $54 million, Completion Services $45 million, Drilling Products $16 million. Management expects to invest in technology upgrades and rig reactivations, with approximately $5 million in operating costs for reactivation in Q2. No updated full-year CapEx guidance was provided on the call, but the prior budget was around $500 million.
Margins
Drilling Services adjusted gross margin was approximately 38% ($134M on $352M revenue), Completion Services 14.4% ($98M on $680M), and Drilling Products 41% ($33M on $80M). Management expects pricing improvements due to tight market conditions, which should support margin expansion. Cost control programs implemented in late 2025 are providing benefits.
Key Risks
Risks include the Middle East conflict impacting the drilling products segment (10-15% of segment revenue), inflation in tungsten and logistics costs, and the winter storm impact of $9 million in Q1. Customers' cautious near-term budgets and potential for slower activity recovery are additional risks highlighted by management.
Generated by AI · Q1 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-07-30
Q2 2026 saw 10% sequential revenue growth to $1.23B, driven by strong demand and pricing for high-spec rigs and gas-powered completion equipment. Strategic investments and fleet upgrades are underway, with free cash flow and margins expected to improve in H2 2026 and 2027.
Q1 2026 Q1 2026 2026-04-23
Q1 2026 saw strong operational execution and technology-driven performance, with revenue of $1.117B and adjusted EBITDA of $205M. Market conditions are improving, with higher U.S. shale activity expected and disciplined capital allocation focused on technology and shareholder returns.
Q4 2025 Q4 2025 2026-02-05
Q4 2025 saw strong free cash flow, steady segment performance, and a 25% dividend increase, despite commodity volatility. Technology investments and international expansion support a positive outlook, with CapEx reduced and robust shareholder returns maintained.
Q3 2025 Q3 2025 2025-10-23
Q3 2025 saw resilient performance with $1.176B revenue, a net loss of $36M, and $219M adjusted EBITDA. Operational execution, technology investment, and disciplined capital allocation supported strong free cash flow and shareholder returns, with steady activity expected into 2026.
Q2 2025 Q2 2025 2025-07-24
Q2 2025 featured resilient margins, strong cash flow, and robust adoption of digital and automation tech, despite oil market volatility and cautious customer activity. Guidance calls for steady Q3 performance and increased free cash flow in H2 2025.
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📊 Analysis Methodology

This comprehensive investment analysis was conducted using The Finmagine™ Stock Analysis & Ranking Methodology, a proprietary framework that systematically evaluates stocks across five critical dimensions: Financial Health, Growth Prospects, Competitive Positioning, Management Quality, and Valuation.

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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
This analysis does not constitute, nor should it be interpreted as, an offer, solicitation, or recommendation to buy, sell, or hold any securities or financial products. Investors are strongly advised to conduct their own independent research and due diligence and to consult with a licensed financial advisor or an SEC-registered investment adviser before making any investment decisions, taking into account their individual financial situation, risk tolerance, and investment objectives.

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Conflict of Interest Disclosure:
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Information Sources:
The analysis is based on publicly available information including SEC filings (10-K, 10-Q), annual reports, management commentary, and publicly available financial data. Information is believed to be accurate as of the date of publication but may be subject to change without notice. Readers are encouraged to independently verify all information before acting upon it.

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