Helmerich & Payne, Inc. (HP) FY2025 10-K Annual Report
Helmerich & Payne, Inc. (HP) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Nov 21, 2025. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Helmerich & Payne, Inc. FY2025 10-K Analysis
Business Overview
- • Core business model: Contract drilling services and technology solutions for oil and natural gas industry with focus on rig operations and proprietary technology
- • New emphasis: Integration and operational scaling of recently acquired KCA Deutag, including $4.8 billion drilling backlog and related contract risks
- • Strategic shift: Increased focus on cybersecurity risk management due to rising sophisticated cyber threats and remote workforce expansion
- • Quantitative metric: Goodwill of $182.9 million and intangible assets of $485.5 million related to acquisitions on Sept 30, 2025
- • Noteworthy fact: Exposure to contract suspensions in Saudi Arabia post-KCA Deutag acquisition and heightened risks in national oil company contracts
Management Discussion & Analysis
- • Operating cash flow $543.0M in FY 2025 vs $684.7M in FY 2024 due to Saudi startup and acquisition costs
- • Capital expenditures $426.4M in FY 2025 down from $495.1M in FY 2024; FY 2026 capex guidance $280M-$320M
- • Acquisition payment net cash outflow $1.8B in FY 2025 for business purchase
- • Dividends $100.7M paid in FY 2025 ($1.00/share) vs $168.5M in FY 2024; share repurchases $51.3M in FY 2024, none in FY 2025
- • Total debt $2.08B as of Sep 30, 2025 with $1.8B senior notes, $200M term loan; no borrowings on $950M revolver; expects operating cash flow plus credit facility to fund 2026 obligations
Risk Factors
- • Legal risk from early termination of rig contract in International Solutions, reducing backlog by $34.9 million post-September 30, 2025
- • Geopolitical exposure: increased FlexRig® activity in Saudi Arabia drives $542.4 million revenue uplift in fiscal 2025
- • Operational vulnerability in BENTEC™ manufacturing and engineering with $51.3 million added operating expenses and $59.5 million goodwill impairment in fiscal 2025
- • Market disruption risk from investment loss in Galileo, $29.6 million credit loss due to liquidity and governance issues
- • Financial risk: $192.2 million goodwill impairment charge on International Solutions impacts income tax rate to negative 115.8% in fiscal 2025
Helmerich & Payne, Inc. FY2025 Key Financial MetricsXBRL
Revenue
$3.7B
▲ +34.0% YoY
Net Income
-$164M
▼ -147.6% YoY
Operating Margin
0.1%
▼ -1637bp YoY
Net Margin
-4.4%
▼ -1698bp YoY
ROE
-5.8%
▼ -1758bp YoY
Total Assets
$6.7B
▲ +16.0% YoY
EPS (Diluted)
$-1.66
▼ -148.4% YoY
Operating Cash Flow
$543M
▼ -20.7% YoY
Source: XBRL data from Helmerich & Payne, Inc. FY2025 10-K filing on SEC EDGAR. All figures in USD.
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