Latest Ratios: P/E Ratio -35.6x · EV/EBITDA 7.0x · ROE 2.9%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.2B | $1.2B | $1.3B | $1.6B | $1.9B | $967M | $669M | $1.1B | $2.1B | $5.5B | $4.2B |
| Enterprise Value | $1.1B | $1.1B | $962M | $1.4B | $1.8B | $931M | $615M | $1.1B | $2.0B | $5.4B | $4.1B |
| P/E Ratio → | -35.61 | 36.27 | 13.81 | 8.09 | 8.80 | 135.52 | — | — | 12.04 | 34.04 | — |
| P/S Ratio | 0.65 | 0.73 | 0.89 | 0.96 | 1.18 | 1.12 | 1.12 | 0.91 | 1.22 | 3.43 | 5.82 |
| P/B Ratio | 1.06 | 1.09 | 1.16 | 1.52 | 2.21 | 1.51 | 1.06 | 1.34 | 2.21 | 6.00 | 5.26 |
| P/FCF | 32.47 | 22.55 | 9.70 | 7.25 | 30.72 | — | 51.92 | — | 14.34 | 337.83 | 62.62 |
| P/OCF | 5.85 | 5.93 | 3.59 | 3.93 | 9.42 | 20.26 | 8.59 | 5.32 | 5.40 | 40.92 | 41.73 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.66 | 0.68 | 0.84 | 1.12 | 1.08 | 1.03 | 0.90 | 1.15 | 3.37 | 5.64 |
| EV / EBITDA | 7.05 | 4.95 | 4.18 | 3.83 | 4.85 | 10.46 | — | 18.88 | 5.26 | 13.70 | — |
| EV / EBIT | 18.68 | 18.10 | 10.77 | 5.33 | 6.38 | 172.09 | — | — | 9.60 | 24.27 | — |
| EV / FCF | — | 20.38 | 7.43 | 6.33 | 29.16 | — | 47.71 | — | 13.55 | 332.21 | 60.68 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 14.3% | 14.3% | 26.7% | 32.6% | 32.1% | 23.3% | 19.6% | 24.8% | 31.3% | 34.1% | 16.6% |
| Operating Margin | 3.5% | 3.5% | 6.9% | 15.1% | 18.0% | 1.9% | -51.8% | -9.3% | 12.2% | 14.2% | -32.8% |
| Net Profit Margin | 2.0% | 2.0% | 6.5% | 12.1% | 13.6% | 0.8% | -35.5% | -7.1% | 10.2% | 10.2% | -19.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 2.9% | 2.9% | 8.7% | 20.8% | 29.1% | 1.1% | -29.0% | -9.8% | 18.8% | 18.9% | -16.1% |
| ROA | 2.2% | 2.2% | 6.8% | 16.0% | 21.5% | 0.8% | -22.0% | -7.5% | 14.9% | 14.9% | -12.4% |
| ROIC | 4.8% | 4.8% | 9.1% | 23.1% | 31.6% | 2.1% | -33.3% | -10.4% | 19.0% | 22.7% | -22.9% |
| ROCE | 4.6% | 4.6% | 8.2% | 23.2% | 33.5% | 2.2% | -35.4% | -11.1% | 20.4% | 23.4% | -23.2% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.09 | 0.09 | 0.03 | 0.03 | 0.04 | 0.07 | 0.05 | 0.05 | — | — | — |
| Debt / EBITDA | 0.44 | 0.44 | 0.14 | 0.08 | 0.08 | 0.52 | — | 0.67 | — | — | — |
| Net Debt / Equity | — | -0.10 | -0.27 | -0.19 | -0.11 | -0.06 | -0.09 | -0.01 | -0.12 | -0.10 | -0.16 |
| Net Debt / EBITDA | -0.53 | -0.53 | -1.27 | -0.56 | -0.26 | -0.41 | — | -0.19 | -0.31 | -0.23 | — |
| Debt / FCF | — | -2.17 | -2.26 | -0.92 | -1.56 | — | -4.20 | — | -0.79 | -5.62 | -1.95 |
| Interest Coverage | 19.67 | 19.67 | 123.40 | 744.55 | 459.38 | 2.80 | -272.61 | -106.95 | 422.67 | 520.39 | -362.50 |
Net cash position: cash ($210M) exceeds total debt ($95M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.24 | 3.24 | 4.03 | 4.79 | 3.94 | 3.76 | 5.38 | 4.31 | 4.32 | 4.40 | 4.72 |
| Quick Ratio | 2.70 | 2.70 | 3.44 | 4.06 | 3.39 | 3.16 | 4.34 | 3.31 | 3.41 | 3.61 | 3.65 |
| Cash Ratio | 0.97 | 0.97 | 1.79 | 1.47 | 0.71 | 0.63 | 1.06 | 0.49 | 0.81 | 0.63 | 1.30 |
| Asset Turnover | — | 1.11 | 1.02 | 1.23 | 1.42 | 0.96 | 0.73 | 1.10 | 1.43 | 1.39 | 0.70 |
| Inventory Turnover | 11.71 | 11.71 | 9.63 | 9.82 | 11.21 | 8.40 | 5.80 | 9.11 | 9.09 | 9.15 | 5.61 |
| Days Sales Outstanding | — | 74.94 | 72.46 | 85.12 | 104.59 | 133.83 | 149.29 | 79.64 | 76.22 | 95.66 | 113.33 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 3.0% | 2.9% | 2.7% | 2.2% | 0.5% | — | — | 2.9% | 4.8% | 0.8% | 0.3% |
| Payout Ratio | 109.5% | 109.5% | 37.7% | 17.7% | 4.0% | — | — | — | 57.6% | 26.7% | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | 2.8% | 7.2% | 12.4% | 11.4% | 0.7% | — | — | 8.3% | 2.9% | — |
| FCF Yield | 3.1% | 4.4% | 10.3% | 13.8% | 3.3% | — | 1.9% | — | 7.0% | 0.3% | 1.6% |
| Buyback Yield | 0.2% | 0.2% | 0.8% | 1.4% | 0.0% | 0.1% | 0.1% | 0.7% | 2.0% | 0.5% | 0.1% |
| Total Shareholder Yield | 3.3% | 3.2% | 3.5% | 3.6% | 0.5% | 0.1% | 0.1% | 3.6% | 6.9% | 1.3% | 0.3% |
| Shares Outstanding | — | $219M | $211M | $213M | $213M | $213M | $212M | $212M | $213M | $214M | $214M |
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying RES stock.
RPC, Inc.'s current P/E ratio is -35.6x. The historical average is 21.9x.
RPC, Inc.'s current EV/EBITDA is 7.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 8.1x.
RPC, Inc.'s return on equity (ROE) is 2.9%. The historical average is 13.4%.
Based on historical data, RPC, Inc. is trading at a P/E of -35.6x. Compare with industry peers and growth rates for a complete picture.
RPC, Inc.'s current dividend yield is 3.02% with a payout ratio of 109.5%.
RPC, Inc. has 14.3% gross margin and 3.5% operating margin.
RPC, Inc.'s Debt/EBITDA ratio is 0.4x, indicating low leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
Volatile margins and cash conversion
Metrics are mathematically derived from official filings.
Trailing Multiples Overstate Earnings Power
RES trades at a trailing P/E of 35.40 but a forward P/E of 17.20, a gap that, based on reported figures, reflects depressed trailing earnings rather than an expensive stock at current profitability levels. EV/EBITDA of 4.87 sits near the peer median of roughly 4.8 to 6.0.
The collapse from 35.40x trailing to 17.20x forward implies the market expects normalization of earnings, but that expectation rests on recovering margins that turned negative in 2026Q3. EV/Sales of roughly 0.72 and P/B of 1.06 suggest investors are paying close to book value for assets that have not yet produced consistent returns. Investors should monitor whether forward estimates hold if gross margins remain volatile.
Gross Margin Collapse Undermines Earnings Quality
As reported in the quarterly statements, RES gross margin fell from 28.0% in 2024Q2 to negative 11.5% in 2026Q3, while operating margin moved from 9.7% to negative 11.5% over the same window.
The compression in gross margin is the primary driver of operating deterioration, indicating that cost of revenue is not tracking pricing or utilization in a stable way. Net margin of negative 9.0% in the latest quarter versus 8.9% two years earlier shows how thin the earnings base has become. Operating margin is the more reliable gauge of earning power here, since net income has been affected by non-operating swings and stock-based compensation.
Returns Decaying From Modest Base
Based on RES's reported figures, ROIC declined from 3.2% in 2024Q2 to negative 4.2% in 2026Q3, while ROE fell from 3.1% to negative 3.9%, indicating that returns on a sizable capital base have eroded.
Returns have moved in lockstep with margins rather than asset efficiency, which suggests the decline is operational rather than a result of capital being over-deployed. ROIC has remained below typical cost of capital thresholds for most of the ten quarters, implying limited value creation during the period. Investors should watch whether a return to positive operating margins restores ROIC above 5%.
Minimal Debt Limits Financial Risk
According to reported balance sheet data, RES debt-to-equity fell from 0.09 in 2025Q4 to 0.05 in 2026Q3, with total debt of $51.7M against roughly $1.1B of equity, giving the company substantial room on its capital structure.
The low leverage ratio indicates that debt service is not a binding constraint at present, even with interest coverage negative in the latest quarter. Coverage of 6.34x in 2026Q2 and 1.16x in 2025Q4 shows that coverage has been volatile rather than structurally weak. Investors should monitor coverage if operating losses persist, since the buffer is only as strong as the earnings supporting it.
Liquidity Strong but Eroding Gradually
According to reported figures, RES current ratio declined from 5.04 in 2024Q3 to 3.52 in 2026Q3, and quick ratio fell from 4.19 to 2.85, remaining well above typical operating thresholds even as cash balances contracted.
The current ratio at 3.52 remains a strong cushion, but the trend shows cash being consumed faster than it is replenished. Inventory dependence is modest, with the quick ratio close to the current ratio, which suggests liquidity does not rely heavily on inventory conversion. Under a severe stress scenario the position would likely hold for some time, though sustained losses would gradually shrink this cushion.
Trailing P/E Misleads on Cyclical Earnings
The P/E ratio is the metric most commonly misapplied to this business, since oilfield services earnings swing sharply with drilling activity, and RES trailing P/E of 35.40 reflects near-zero net income rather than a stable earnings multiple.
Trailing P/E obscures the cyclical trough in margins and makes the stock look expensive on depressed earnings, while forward P/E of 17.20 depends entirely on a rebound assumption. Enterprise value to EBITDA or price to tangible book better reflect asset-heavy economics and are less distorted by the working capital and depreciation swings visible in the cash flow data. Investors should weigh normalized through-cycle EBITDA rather than any single-quarter earnings figure.