PTEN (Patterson-UTI Energy) Cash-to-Debt : 0.09 (As of Sep. 2024)

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What is Patterson-UTI Energy Cash-to-Debt?

Cash to Debt Ratio measures the financial strength of a company. It is calculated as a company's cash, cash equivalents, and marketable securities divide by its debt. Patterson-UTI Energy's cash to debt ratio for the quarter that ended in Sep. 2024 was 0.09.

If Cash to Debt ratio is less than 1, the company cannot pay off its debt using the cash in hand. Here we can see, Patterson-UTI Energy couldn't pay off its debt using the cash in hand for the quarter that ended in Sep. 2024.

The historical rank and industry rank for Patterson-UTI Energy's Cash-to-Debt or its related term are showing as below:

PTEN' s Cash-to-Debt Range Over the Past 10 Years
Min: 0.02 Med: 0.16 Max: 0.78
Current: 0.09

During the past 13 years, Patterson-UTI Energy's highest Cash to Debt Ratio was 0.78. The lowest was 0.02. And the median was 0.16.

PTEN's Cash-to-Debt is ranked worse than
82.47% of 987 companies
in the Oil & Gas industry
Industry Median: 0.52 vs PTEN: 0.09

Patterson-UTI Energy Cash-to-Debt Historical Data

The historical data trend for Patterson-UTI Energy's Cash-to-Debt can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Note: An indication of "No Debt" does not necessarily mean that the company has no debt obligations; it could be due to missing data in the quarterly or annual report. Use caution when interpreting this information.

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Patterson-UTI Energy Cash-to-Debt Chart

Patterson-UTI Energy Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Cash-to-Debt

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0.17

0.24

0.13

0.16

0.14

Patterson-UTI Energy Quarterly Data
	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
Cash-to-Debt	Get a 7-Day Free Trial															0.05	0.14	0.13	0.06	0.09

Competitive Comparison of Patterson-UTI Energy's Cash-to-Debt

For the Oil & Gas Drilling subindustry, Patterson-UTI Energy's Cash-to-Debt, along with its competitors' market caps and Cash-to-Debt data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Patterson-UTI Energy's Cash-to-Debt Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Patterson-UTI Energy's Cash-to-Debt distribution charts can be found below:

* The bar in red indicates where Patterson-UTI Energy's Cash-to-Debt falls into.

Patterson-UTI Energy Cash-to-Debt Calculation

This is the ratio of a company's Cash, Cash Equivalents, Marketable Securities to its debt. The debt includes the Short-Term Debt & Capital Lease Obligation and Long-Term Debt & Capital Lease Obligation. This ratio measures the financial strength of a company. This ratio is updated quarterly.

Patterson-UTI Energy's Cash to Debt Ratio for the fiscal year that ended in Dec. 2023 is calculated as:

Cash to Debt Ratio	=	Cash, Cash Equivalents, Marketable Securities	/	Total Debt
	=	Cash, Cash Equivalents, Marketable Securities	/	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)
	=	190.108	/	(69.747	+	1275.742)
	=	0.14

Patterson-UTI Energy's Cash to Debt Ratio for the quarter that ended in Sep. 2024 is calculated as:

Cash to Debt Ratio	=	Cash, Cash Equivalents, Marketable Securities	/	Total Debt
	=	Cash, Cash Equivalents, Marketable Securities	/	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)
	=	113.379	/	(38.248	+	1274.026)
	=	0.09

Patterson-UTI Energy (NAS:PTEN) Cash-to-Debt Explanation

If Cash to Debt ratio is greater than 1, the company can pay off its debt using the cash in hand. If it is smaller than 1, it means the company has more debt than the cash in hands. In this case, it is important to look the the company's Interest Coverage. Ben Graham requires that a company must have an Interest Coverage of at least 5.

Patterson-UTI Energy Cash-to-Debt Related Terms

Thank you for viewing the detailed overview of Patterson-UTI Energy's Cash-to-Debt provided by GuruFocus.com. Please click on the following links to see related term pages.

Patterson-UTI Energy Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Patterson-UTI Energy Inc (NAS:PTEN) » Definitions » Cash-to-Debt

Comparable Companies

Traded in Other Exchanges

PE1:Germany PE1:Germany

Address

10713 West Sam Houston Parkway North, Suite 800, Houston, TX, USA, 77064

Website

https://www.patenergy.com

Patterson-UTI Energy is one of the largest land rig drilling contractors in the United States. Its 2023 merger with NexTier greatly expanded its pressure pumping operations, as well, and the firm now controls nearly 20% of the North American market for drilling and completions services. It also provides directional drilling services and tool rental services in most US onshore oil and gas basins.

Executives

Matthew Gillard	officer: President-Completions	3990 ROGERDALE RD., HOUSTON TX 77042
Drummond Robert Wayne Jr	director	1301 MCKINNEY ST, STE 1800, HOUSTON TX 77010
Tiffany Thom Cepak	director	C/O PATTERSON-UTI ENERGY, INC., 10713 WEST SAM HOUSTON PARKWAY NORTH, SU, HOUSTON TX 77064
Charles Andrew Smith	officer: EVP & Chief Financial Officer	13627 COMELY LANE, HOUSTON TX 77079
Seth David Wexler	officer: GENERAL COUNSEL AND SECRETARY	450 GEARS ROAD, SUITE 500, HOUSTON TX 77067
James Carl Stewart	director	1800 POST OAK BLVD., SUITE 450, HOUSTON TX 77056
James Michael Holcomb	officer: President-Drilling Subsidiary	450 GEARS ROAD, SUITE 500, HOUSTON TX 77067
Amy H Nelson	director	2000 POST OAK BLVD., SUITE 100, HOUSTON TX 77056
Leslie Ann Beyer	director	C/O NATURAL GAS SERVICES GROUP., INC., 404 VETERANS AIRPARK LANE, SUITE 300, MIDLAND TX 79705
Gary M. Halverson	director	1333 WEST LOOP SOUTH, SUITE 1700, HOUSTON TX 77027
Blackstone Management Associates Vii L.l.c.	10 percent owner	C/O THE BLACKSTONE GROUP L.P., 345 PARK AVE., NEW YORK NY 10154
Blackstone Energy Management Associates Ii L.l.c.	10 percent owner	C/O THE BLACKSTONE GROUP L.P., 345 PARK AVE., NEW YORK NY 10154
Bcp Vii/bep Ii Holdings Manager L.l.c.	10 percent owner	C/O BLACKSTONE INC., 345 PARK AVENUE, NEW YORK NY 10154
Bep Diamond Aggregator L.p.	10 percent owner	C/O BLACKSTONE INC., 345 PARK AVENUE, NEW YORK NY 10154
Blackstone Ema Ii L.l.c.	10 percent owner	C/O THE BLACKSTONE GROUP L.P., 345 PARK AVE., NEW YORK NY 10154