Helmerich & Payne, Inc. (HP) Balance Sheet
HP balance sheet, FY2025
September 30, 2025 · U.S. dollars$6.71B assets = $3.88B liabilities + $2.83B equity
Both columns are drawn to the same scale: what HP owns equals what it owes plus shareholders’ equity. Hover a block for its value.
HP financial health
Current ratio1.80
Comfortable · current assets cover current liabilities 1.80×
Debt / equity0.85
Moderate leverage · $0.85 of debt for each $1 of equity
Equity / assets40.6%
Equity-funded · of assets funded by shareholders
Cash / debt10.6%
Low cash cover · cash & short-term investments vs total debt
Goodwill & intangibles10.0%
Mostly tangible · of total assets
Descriptive bands, not a rating. Fiscal FY2025.
HP balance sheet trends, FY2016–FY2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $6.83BFY2016 | $6.71BFY2025 | −0.2%/yr | |
| Total liabilities | $2.27BFY2016 | $3.88BFY2025 | +6.1%/yr | |
| Shareholders’ equity | $4.56BFY2016 | $2.72BFY2025 | −5.6%/yr | |
| Cash & short-term investments | $949.7MFY2016 | $245.8MFY2025 | −13.9%/yr | |
| Total debt | $639.9MFY2016 | $2.32BFY2025 | +15.4%/yr | |
| Net cash (debt) | $309.8MFY2016 | −$2.07BFY2025 | −$2.4B | |
| Working capital | $1.24BFY2016 | $650.6MFY2025 | −$591.9M | |
| Book value per share | $42.23FY2016 | $27.45FY2025 | −4.7%/yr | |
| Current ratio | 4.76FY2016 | 1.80FY2025 | −2.97 | |
| Debt / equity | 0.14FY2016 | 0.85FY2025 | +0.71 | |
| Shares outstanding | 108.0MFY2016 | 99.3MFY2025 | −0.9%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
HP assets
Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current
HP liabilities and equity
Current liabilitiesLong-term debtOther long-term liabilitiesEquity
HP debt vs cash
Total debtCash & ST investmentsNet cash (debt)
Debt includes short- and long-term borrowings and, where reported, lease obligations.
HP balance sheet
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $245.8M | $510.3M | $409.8M | $385.5M | $1.12B | $577.2M | $400.9M | $325.8M | $565.9M | $949.7M |
| Cash & equivalents | $224.3M | $217.3M | $316.2M | $268.4M | $917.5M | $487.9M | $347.9M | $284.4M | $521.4M | $905.6M |
| Short-term investments | $21.5M | $292.9M | $93.6M | $117.1M | $198.7M | $89.3M | $53.0M | $41.5M | $44.5M | $44.1M |
| Receivables | $787.6M | $429.9M | $410.7M | $465.0M | $233.4M | $195.0M | $497.8M | $565.2M | $477.1M | $375.2M |
| Inventory | $324.3M | $117.9M | $94.2M | $88.0M | $84.1M | $104.2M | $149.7M | $158.1M | $137.2M | $124.3M |
| Other current assets | $107.8M | $134.1M | $83.9M | $59.4M | $152.9M | $86.9M | $66.8M | $66.4M | $55.1M | $123.5M |
| Total current assets | $1.47B | $1.19B | $998.8M | $997.9M | $1.59B | $963.3M | $1.12B | $1.12B | $1.24B | $1.57B |
| Property, plant & equipment (net) | $4.44B | $3.08B | $2.92B | $2.95B | $3.16B | $3.65B | $4.50B | $4.86B | $5.00B | $5.14B |
| Goodwill & intangible assets | $668.4M | $99.8M | $106.2M | $112.8M | $119.5M | $126.7M | $169.5M | $138.0M | $102.5M | $5.6M |
| Long-term investments | $68.2M | $100.6M | $264.9M | $219.0M | $135.4M | $31.6M | $32.0M | $98.7M | $84.0M | $85.0M |
| Other non-current assets | $67.0M | $1.31B | $144.9M | $126.3M | $30.6M | $61.7M | $20.9M | $5.3M | $17.2M | $24.0M |
| Total assets | $6.71B | $5.78B | $4.44B | $4.41B | $5.03B | $4.83B | $5.84B | $6.21B | $6.44B | $6.83B |
| Liabilities | ||||||||||
| Accounts payable | $217.9M | $135.1M | $130.9M | $127.0M | $72.0M | $36.5M | $123.1M | $132.7M | $135.6M | $95.4M |
| Short-term debt | $42.8M | $17.0M | $13.8M | $12.4M | $496.1M | $11.4M | $0 | $58.1M | $171.3M | $148.0M |
| Deferred revenue | — | $32.2M | $33.7M | $28.8M | $13.2M | $15.0M | $40.2M | $30.2M | $35.7M | $52.6M |
| Total current liabilities | $814.8M | $446.9M | $418.9M | $394.8M | $866.3M | $219.1M | $410.2M | $377.2M | $344.4M | $330.1M |
| Long-term debt | $2.06B | $1.78B | $545.1M | $542.6M | $542.0M | $480.7M | $479.4M | $494.0M | $492.9M | $491.8M |
| Lease obligations | $146.1M | $76.7M | $54.8M | $39.7M | $50.5M | $45.2M | — | — | — | — |
| Other long-term liabilities | $1.00B | $635.6M | $703.6M | $707.4M | $713.2M | $811.2M | $937.7M | $961.0M | $1.44B | $1.45B |
| Total liabilities | $3.88B | $2.86B | $1.67B | $1.64B | $2.12B | $1.51B | $1.83B | $1.83B | $2.28B | $2.27B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $11.2M | $11.2M | $11.2M | $11.2M | $11.2M | $11.2M | $11.2M | $11.2M | $11.2M | $11.1M |
| Retained earnings (deficit) | $2.62B | $2.88B | $2.71B | $2.47B | $2.57B | $3.01B | $3.71B | $4.03B | $3.86B | $4.29B |
| Treasury stock | — | — | — | — | −$181.6M | −$198.2M | −$195.0M | −$173.2M | −$191.8M | −$188.3M |
| Accumulated other comprehensive income | $45.0M | −$6.3M | −$8.0M | −$12.1M | −$20.2M | −$26.2M | −$28.6M | $16.6M | $2.3M | −$204,000 |
| Minority interest | $104.5M | $0 | — | — | — | — | — | $0 | $0 | $0 |
| Total shareholders' equity | $2.72B | $2.92B | $2.77B | $2.77B | $2.91B | $3.32B | $4.01B | $4.38B | $4.16B | $4.56B |
| Key figures | ||||||||||
| Total debt | $2.32B | $1.86B | $600.0M | $582.3M | $1.08B | $492.1M | $479.4M | $552.0M | $664.3M | $639.9M |
| Net cash (debt) | −$2.07B | −$1.35B | −$190.1M | −$196.9M | $40.3M | $85.1M | −$78.5M | −$226.2M | −$98.4M | $309.8M |
| Working capital | $650.6M | $745.1M | $579.8M | $603.1M | $720.3M | $744.2M | $704.8M | $738.4M | $890.9M | $1.24B |
| Tangible book value | $2.06B | $2.82B | $2.67B | $2.65B | $2.79B | $3.19B | $3.84B | $4.24B | $4.06B | $4.56B |
| Book value per share | $27.45 | $29.45 | $26.95 | $25.95 | $27.01 | $30.72 | $36.74 | $40.07 | $38.38 | $42.23 |
| Shares outstanding | 99.3M | 99.1M | 102.9M | 106.6M | 107.8M | 108.0M | 109.2M | 109.4M | 108.5M | 108.0M |
| Current ratio | 1.80 | 2.67 | 2.38 | 2.53 | 1.83 | 4.40 | 2.72 | 2.96 | 3.59 | 4.76 |
| Quick ratio | 1.27 | 2.10 | 1.96 | 2.15 | 1.56 | 3.52 | 2.19 | 2.36 | 3.03 | 4.01 |
| Debt / equity | 0.85 | 0.64 | 0.22 | 0.21 | 0.37 | 0.15 | 0.12 | 0.13 | 0.16 | 0.14 |
| Equity / assets | 40.6% | 50.5% | 62.4% | 62.7% | 57.9% | 68.7% | 68.7% | 70.5% | 64.7% | 66.8% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $231.4M | $224.7M | $269.0M | $245.8M | $187.4M | $195.6M | $526.5M | $510.3M | $289.7M | $277.0M | $298.2M | $350.8M |
| Cash & equivalents | $204.4M | $202.7M | $247.2M | $224.3M | $166.1M | $174.8M | $391.2M | $217.3M | $203.6M | $193.6M | $214.1M | $257.2M |
| Short-term investments | $27.0M | $22.0M | $21.8M | $21.5M | $21.3M | $20.8M | $135.3M | $292.9M | $86.1M | $83.4M | $84.1M | $93.6M |
| Receivables | $869.5M | $810.6M | $726.8M | $782.6M | $782.6M | $786.3M | $426.9M | $429.9M | $415.4M | $431.7M | $435.8M | $437.8M |
| Inventory | $325.8M | $330.5M | $324.8M | $324.3M | $330.0M | $321.6M | $127.3M | $117.9M | $115.3M | $107.2M | $101.4M | $94.2M |
| Other current assets | $143.8M | $106.9M | $141.7M | $112.7M | $190.5M | $189.6M | $144.1M | $134.1M | $149.9M | $132.9M | $153.2M | $123.8M |
| Total current assets | $1.57B | $1.47B | $1.46B | $1.47B | $1.49B | $1.49B | $1.22B | $1.19B | $970.3M | $948.8M | $988.7M | $1.01B |
| Property, plant & equipment (net) | $3.97B | $4.09B | $4.22B | $4.44B | $4.53B | $4.60B | $3.08B | $3.08B | $3.07B | $3.05B | $3.03B | $2.97B |
| Goodwill & intangible assets | $606.1M | $627.9M | $645.7M | $668.4M | $660.4M | $855.1M | $98.2M | $99.8M | $101.4M | $103.0M | $104.6M | $106.2M |
| Long-term investments | $72.9M | $85.6M | $70.5M | $68.2M | $102.4M | $132.0M | $101.7M | $100.6M | $292.2M | $274.4M | $263.4M | $264.9M |
| Other non-current assets | $62.8M | $61.1M | $63.2M | $67.0M | $80.3M | $162.9M | $1.32B | $1.31B | $49.4M | $45.1M | $32.0M | $32.1M |
| Total assets | $6.29B | $6.34B | $6.46B | $6.71B | $6.86B | $7.24B | $5.82B | $5.78B | $4.48B | $4.42B | $4.42B | $4.38B |
| Liabilities | ||||||||||||
| Accounts payable | $207.4M | $177.2M | $188.3M | $217.9M | $240.9M | $272.8M | $148.8M | $135.1M | $158.9M | $158.3M | $157.3M | $130.9M |
| Short-term debt | $6.9M | $146.3M | $6.9M | $42.8M | $6.9M | $6.8M | $0 | $17.0M | — | — | — | $13.8M |
| Deferred revenue | — | — | — | — | — | — | — | $32.2M | — | — | — | $33.7M |
| Total current liabilities | $800.5M | $863.3M | $721.9M | $814.8M | $809.8M | $887.6M | $435.7M | $446.9M | $456.8M | $438.8M | $469.0M | $418.9M |
| Long-term debt | $1.86B | $1.86B | $2.03B | $2.06B | $2.18B | $2.23B | $1.78B | $1.78B | $545.6M | $545.4M | $545.3M | $545.1M |
| Lease obligations | — | — | — | $146.1M | — | — | — | $76.7M | — | — | — | $54.8M |
| Other long-term liabilities | $960.6M | $986.9M | $1.01B | $1.00B | $1.00B | $1.07B | $652.5M | $635.6M | $625.8M | $637.5M | $647.4M | $645.9M |
| Total liabilities | $3.62B | $3.71B | $3.76B | $3.88B | $4.00B | $4.19B | $2.87B | $2.86B | $1.63B | $1.62B | $1.66B | $1.61B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $11.2M | $11.2M | $11.2M | $11.2M | $11.2M | $11.2M | $11.2M | $11.2M | $11.2M | $11.2M | $11.2M | $11.2M |
| Retained earnings (deficit) | $2.46B | $2.41B | $2.50B | $2.62B | $2.70B | $2.89B | $2.91B | $2.88B | $2.83B | $2.79B | $2.74B | $2.71B |
| Accumulated other comprehensive income | $55.1M | $43.5M | $42.7M | $45.0M | $9.5M | $1.1M | −$6.0M | −$6.3M | −$8.5M | −$7.7M | −$7.8M | −$8.0M |
| Minority interest | $96.3M | $101.1M | $99.3M | $104.5M | $102.8M | — | — | — | — | — | — | — |
| Total shareholders' equity | $2.57B | $2.53B | $2.60B | $2.72B | $2.76B | $3.05B | $2.95B | $2.92B | $2.86B | $2.80B | $2.76B | $2.77B |
| Key figures | ||||||||||||
| Total debt | $1.86B | $2.00B | $2.03B | $2.32B | $2.19B | $2.24B | $1.78B | $1.86B | $545.6M | $545.4M | $545.3M | $600.0M |
| Net cash (debt) | −$1.63B | −$1.78B | −$1.76B | −$2.07B | −$2.00B | −$2.04B | −$1.26B | −$1.35B | −$255.9M | −$268.4M | −$247.1M | −$249.2M |
| Working capital | $770.0M | $609.4M | $740.5M | $650.6M | $680.7M | $605.6M | $789.1M | $745.1M | $513.5M | $509.9M | $519.7M | $587.7M |
| Tangible book value | $1.97B | $1.90B | $1.96B | $2.06B | $2.10B | $2.20B | $2.85B | $2.82B | $2.76B | $2.70B | $2.66B | $2.67B |
| Book value per share | $25.73 | $25.32 | $26.22 | $27.40 | $27.81 | $30.71 | $29.72 | $29.47 | $28.85 | $28.30 | $27.70 | $27.75 |
| Shares outstanding | 100.0M | 99.9M | 99.3M | 99.4M | 99.4M | 99.4M | 99.2M | 99.0M | 99.0M | 99.0M | 99.6M | 99.9M |
| Current ratio | 1.96 | 1.71 | 2.03 | 1.80 | 1.84 | 1.68 | 2.81 | 2.67 | 2.12 | 2.16 | 2.11 | 2.40 |
| Quick ratio | 1.38 | 1.20 | 1.38 | 1.26 | 1.20 | 1.11 | 2.19 | 2.10 | 1.54 | 1.61 | 1.57 | 1.88 |
| Debt / equity | 0.72 | 0.79 | 0.78 | 0.85 | 0.79 | 0.73 | 0.60 | 0.64 | 0.19 | 0.19 | 0.20 | 0.22 |
| Equity / assets | 40.9% | 39.9% | 40.3% | 40.6% | 40.3% | 42.1% | 50.7% | 50.5% | 63.7% | 63.3% | 62.4% | 63.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed November 21, 2025); data from EODHD.
HP financial position
At the end of fiscal 2025 (September 30, 2025), Helmerich & Payne had total assets of $6.7 billion (up 16.0% from a year earlier), total liabilities of $3.9 billion and shareholders' equity of $2.7 billion. It held $245.8 million in cash and short-term investments against $2.3 billion of debt, net debt of $2.1 billion. Its current ratio was 1.80. In the latest quarter (ended June 30, 2026) total assets were $6.3 billion and equity $2.6 billion.
Related: HP income statement, HP cash flow statement, HP key metrics. See the HP stock overview for the latest quote and news.
HP balance sheet FAQ
What are Helmerich & Payne's total assets?
Helmerich & Payne reported total assets of $6.7 billion at the end of fiscal 2025 (September 30, 2025), compared with $5.8 billion a year earlier.
How much debt does Helmerich & Payne have?
Helmerich & Payne had $2.3 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.85.
How much cash does Helmerich & Payne have?
Helmerich & Payne held $245.8 million in cash and short-term investments at the end of fiscal 2025; with $2.3 billion of debt that is net debt of $2.1 billion.
What is Helmerich & Payne's book value?
Helmerich & Payne's shareholders' equity (book value) was $2.7 billion at the end of fiscal 2025, or $27.45 per share.
What is Helmerich & Payne's current ratio?
Helmerich & Payne had current assets of $1.5 billion and current liabilities of $814.8 million, a current ratio of 1.80 (it can cover its short-term obligations).
How much goodwill does Helmerich & Payne have?
Helmerich & Payne carried $668.4 million of goodwill and intangible assets, 10.0% of total assets, at the end of fiscal 2025.