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Patterson UTI Energy cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$160M in Q3 2026 · $266M over twelve months

Operating cash flow$301M
Capital spending−$141M
Free cash flow+$160M
Cash / net income10.5×

Analysis

In Q3 2026, Patterson UTI Energy generated $301M of operating cash flow and spent $141M on capital projects, leaving free cash flow of $160M. That is $88.3M more than in Q3 2025 ($71.3M).

Over the twelve months to Sep 30, 2026, operating cash flow was $818M; the largest uses were capital spending ($552M), dividends ($144M), buybacks ($33.9M); besides operations, cash came from asset & business sales ($71.5M), net borrowing (+) / repaid (−) ($7.5M); the cash balance rose by $152M.

Operating cash flow was $301M against net income of $28.6M — 10.5× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$215M, accrued liabilities +$45.1M, receivables −$26.8M.

Free cash flow

Patterson UTI Energy: free cash flow by quarterPatterson UTI Energy: free cash flow by quarter$175MQ4 2024$46.3MQ1 2025−$4.5MQ2 2025$71.3MQ3 2025$259MQ4 2025−$52.8MQ1 2026−$99.8MQ2 2026$160MQ3 2026
Operating cash flow less capital spending.
Patterson UTI Energy: operating cash flow against capital spendingPatterson UTI Energy: operating cash flow against capital spendingOperating cash flowCapital spending$316M$140MQ4 2024$208M$162MQ1 2025$140M$144MQ2 2025$216M$144MQ3 2025$398M$139MQ4 2025$63.9M$117MQ1 2026$56.1M$156MQ2 2026$301M$141MQ3 2026
Latest (Q3 2026): Operating cash flow $301M, Capital spending $141M.

Capital allocation, year by year

Patterson UTI Energy: where the cash came from (up) and went (down), by fiscal yearPatterson UTI Energy: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $95.5MFY2021: Asset sales $43.0MFY2021: Capital spending −$166MFY2021: Acquisitions −$29.4MFY2021: Buybacks −$6.3MFY2021: Dividends −$15.6M$138MFY2021FY2022: Operating cash flow $566MFY2022: Net borrowing −$19.8MFY2022: Asset sales $26.1MFY2022: Capital spending −$437MFY2022: Buybacks −$70.1MFY2022: Dividends −$43.1M$592MFY2022FY2023: Operating cash flow $1.0BFY2023: Net borrowing $373MFY2023: Asset sales $26.5MFY2023: Capital spending −$616MFY2023: Acquisitions −$65.2MFY2023: Buybacks −$201MFY2023: Dividends −$100M$1.4BFY2023FY2024: Operating cash flow $1.2BFY2024: Net borrowing −$45.5MFY2024: Asset sales $25.8MFY2024: Capital spending −$678MFY2024: Buybacks −$290MFY2024: Dividends −$127M$1.2BFY2024FY2025: Operating cash flow $961MFY2025: Net borrowing −$7.8MFY2025: Asset sales $44.1MFY2025: Capital spending −$589MFY2025: Buybacks −$69.6MFY2025: Dividends −$122M$1.0BFY2025
Over these 5 years operating cash flow totalled $3.8B; the largest uses were capital spending ($2.5B) and buybacks ($637M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$337M
Debt$1.2B
Net debt$890M

Patterson UTI Energy funds itself: free cash flow was $266M over the last twelve months, and $337M of cash and investments stands against $1.2B of debt.

Patterson UTI Energy: debt maturities by year (FY2025)Patterson UTI Energy: debt maturities by year (FY2025)$483MYear 3$345MYear 4$400MAfter year 5
Principal due in each year as disclosed in the annual report, against $337M of cash and investments now.

Where the cash came from and went

Patterson UTI Energy: sources (+) and uses (−) of cash, Q3 2026Patterson UTI Energy: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$301MCapital spending−$141MCash drawn (+) / kept (−)−$136MAsset & business sales$45.7MDividends−$38.1MBuybacks−$24.2MExchange rates−$3.1MOther investing−$1.6MNet borrowing (+) / repaid (−)−$1.2MOther financing−$931K
Patterson UTI Energy: sources (+) and uses (−) of cash, TTM to Q3 2026Patterson UTI Energy: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$818MCapital spending−$552MCash drawn (+) / kept (−)−$152MDividends−$144MAsset & business sales$71.5MBuybacks−$33.9MNet borrowing (+) / repaid (−)$7.5MOther investing−$6.0MExchange rates−$5.4MOther financing−$2.9M

From profit to cash

Patterson UTI Energy: net income to operating cash flow, Q3 2026Patterson UTI Energy: net income to operating cash flow, Q3 2026Net income$28.6MDepreciation & amortization$215MStock-based pay$5.8MDeferred taxes$17.6MImpairments$4.7MGains on disposals−$23.9MOther non-cash−$3.6MReceivables−$26.8MInventory−$7.2MPayables$26.2MAccrued liabilities$45.1MPrepaid and other assets$7.7MOther liabilities−$1.2MOperating cash flow$301M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$301M−$141M−$24.2M−$38.1M−$1.2M−$136M$160M
Q2 2026$56.1M−$156M−$9.1M−$38.1M−$1.3M$134M−$99.8M
Q1 2026$63.9M−$117M−$350K−$38.0M−$2.0M$83.4M−$52.8M
Q4 2025$398M−$139M−$212K−$30.3M−$1.6M−$234M$259M
Q3 2025$216M−$144M−$33.6M−$30.5M−$1.8M−$1.0M$71.3M
Q2 2025$140M−$144M−$15.6M−$30.7M−$1.8M$39.3M−$4.5M
Q1 2025$208M−$162M−$20.3M−$30.9M−$2.6M$16.1M$46.3M
Q4 2024$316M−$140M−$20.5M−$31.2M−$8.8M−$126M$175M

Patterson UTI Energy: income statement and cash flow

Patterson UTI Energy, Q3 2026: revenue $1.3B (+14% year over year), operating margin 4.7%. The chart follows the revenue to costs, profit and cash.

Patterson UTI Energy: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.