Helmerich & Payne, Inc. (HP) intrinsic value & 10-year financials
Helmerich & Payne, Inc. (HP) has a Graham intrinsic value of $72.50 per share. At $37.43 on Oct 17, 2026, the stock trades 48% below that value. Over the last 10 fiscal years revenue grew 9.5% a year to $3.7B, with an average return on invested capital of -0.3%.
- Graham intrinsic value
- $72.50
- Share price (Oct 17, 2026)
- $37.43
- Price vs Graham value
- 48% below
- Market cap
- $3.7B
- Revenue (FY2025)
- $3.7B
- Revenue growth (10-yr CAGR)
- 9.5%
- ROIC (10-yr avg)
- -0.3%
- Free cash flow (FY2025)
- $116.6M
HP 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $3.7B | -$163.7M | -$1.66 | $116.6M | 0.1% | 0.1% |
| FY2024 | $2.7B | $344.2M | $3.43 | $189.6M | 16.5% | 8.5% |
| FY2023 | $2.9B | $434.1M | $4.16 | $438.2M | 19.6% | 13.3% |
| FY2022 | $2.0B | $7.0M | $0.05 | -$17.0M | 2.2% | 0.7% |
| FY2021 | $1.2B | -$326.1M | -$3.04 | $54.3M | -35.4% | -10.2% |
| FY2020 | $1.8B | -$494.5M | -$4.60 | $398.1M | -35.2% | -12.9% |
| FY2019 | $2.8B | -$33.7M | -$0.34 | $397.3M | 0.7% | 0.3% |
| FY2018 | $2.5B | $482.7M | $4.37 | $77.9M | 1.3% | 0.7% |
| FY2017 | $1.8B | -$128.2M | -$1.20 | -$40.4M | -9.6% | -2.9% |
| FY2016 | $1.6B | -$56.8M | -$0.54 | $496.4M | -1.6% | -0.5% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Helmerich & Payne, Inc. is a consistent compounder, expanding top-line revenue at 9.5% annually over the past decade.
Helmerich & Payne, Inc. has historically struggled to out-earn its cost of capital, averaging just -0.3% ROIC.
Over the decade, Helmerich & Payne, Inc. shows that the company has leveraged its balance sheet to sustain operations.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Helmerich & Payne, Inc. is modeled at 8.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $72.50 per share.