Patterson-UTI Energy, Inc. — Earnings Quality Grade F
PTEN · Energy
Major red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 55 days, change +3 days YoY
AR growth -5.3% vs revenue growth -10.3%
Revenue -10.3%, CFFO -18.2%. Cash follows revenue
Expense Quality
Inventory -4.0% vs COGS -9.7%. Normal
CapEx growth -13.2% vs revenue -10.3%. Normal
SG&A/Gross Profit = 111.0%, exceeds 70%
Gross margin 4.8%, change -0.6pp. Stable
Cash Flow Quality
CFFO/NI = -10.27. Below 1.0
FCF $0.4B, FCF/NI = -3.97
Accruals ratio = -18.9%. Low accruals
Cash $0.4B covers only 33% of debt $1.3B
Balance Sheet Health
Goodwill+Intangibles $1.3B = 40% of equity
Interest coverage = -0.6x (<2x). Financial stress
Other assets grew 193.0% vs revenue -10.3%
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change -8% YoY. Normal
Manipulation Score
M-Score = -3.37 (< -2.22). Unlikely manipulator
Portfolio monitoring
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Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25