Revenue growth remains under pressure with a 3.4% year-over-year decline in 2026Q1, while gross margins have contracted from a 36.6% peak in 2024Q2 to 29.5% in the most recent quarter.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Sales/Revenue | 4.88B | 4.92B | 5.51B | 5.13B | 4.33B | 3.65B | 3.69B | 4.95B | 5.74B | 5.7B | 5.75B | 9.43B | 14.91B | 15.26B | 15.21B | 12.99B | 10.21B | 8.83B | 9.6B | 7.83B | 6.58B | 4.33B | 3.13B | 2.59B | 2.33B | 2.33B | 1.81B | 1.24B | 2.01B | 892.3M | 478M |
| Revenue Growth % | -8.81% | -10.79% | 7.36% | 18.56% | 18.82% | -1.09% | -25.62% | -13.75% | 0.79% | -0.87% | -39.05% | -36.74% | -2.31% | 0.32% | 17.12% | 27.21% | 15.69% | -8.06% | 22.58% | 19.05% | 51.83% | 38.36% | 20.85% | 11.27% | 0.01% | 28.36% | 46.29% | -38.32% | 125.34% | 86.67% | 35.95% |
| Cost of Goods Sold | 2.64B | 3.85B | 3.6B | 3.4B | 3.02B | 2.72B | 2.81B | 3.85B | 4.51B | 4.89B | 5.19B | 8.02B | 11.46B | 12.3B | 11.86B | 9.68B | 7.59B | 6.46B | 6.24B | 5.06B | 4.22B | 2.95B | 2.16B | 1.83B | 1.58B | 1.53B | 1.05B | 727.2M | 1.26B | 606.1M | 356.7M |
| COGS % of Revenue | - | 78.3% | 65.39% | 66.11% | 69.73% | 74.51% | 76.17% | 77.78% | 78.59% | 85.79% | 90.26% | 85.03% | 76.86% | 80.6% | 77.92% | 74.5% | 74.33% | 73.22% | 65.02% | 64.58% | 64.11% | 68.09% | 68.93% | 70.64% | 67.93% | 65.65% | 58.11% | 58.64% | 62.47% | 67.93% | 74.62% |
| Gross Profit | 2.24B | 1.07B | 1.91B | 1.74B | 1.31B | 929M | 878M | 1.1B | 1.23B | 810M | 560M | 1.41B | 3.45B | 2.96B | 3.36B | 11.08B | 1.37B | 2.36B | 3.36B | 2.77B | 2.36B | 1.38B | 973.02M | 760.78M | 746.79M | 800M | 759.95M | 513M | 754.6M | 286.2M | 121.3M |
| Gross Margin % | 45.89% | 21.7% | 34.61% | 33.89% | 30.27% | 25.49% | 23.83% | 22.22% | 21.41% | 14.21% | 9.74% | 14.97% | 23.14% | 19.4% | 22.08% | 85.26% | 13.37% | 26.78% | 34.98% | 35.42% | 35.89% | 31.91% | 31.07% | 29.36% | 32.07% | 34.35% | 41.89% | 41.36% | 37.53% | 32.07% | 25.38% |
| Gross Profit Growth % | - | -44.08% | 9.66% | 32.72% | 41.12% | 5.81% | -20.25% | -10.49% | 51.85% | 44.64% | -60.34% | -59.07% | 16.51% | -11.88% | -69.66% | 710.99% | -42.22% | -29.62% | 21.04% | 17.51% | 70.77% | 42.09% | 27.9% | 1.87% | -6.65% | 5.27% | 48.14% | -32.02% | 163.66% | 135.94% | 10.17% |
| Operating Expenses | 1.5B | 311M | 970M | 920M | 899M | 813M | 2.36B | 2.28B | 3.31B | 2.98B | 2.81B | 2.96B | 2.94B | 2.44B | 3.06B | 2B | 1.86B | 1.66B | 1.38B | 1.15B | 1.02B | 813.18M | 557.27M | 479.12M | 681.4M | 390.53M | 586.7M | 448.8M | 464.1M | 144.2M | 75M |
| OpEx % of Revenue | - | 6.32% | 17.59% | 17.92% | 20.76% | 22.3% | 64.15% | 46.08% | 57.69% | 52.29% | 48.79% | 31.36% | 19.75% | 15.97% | 20.12% | 15.42% | 18.19% | 18.8% | 14.37% | 14.68% | 15.52% | 18.77% | 17.79% | 18.49% | 29.26% | 16.77% | 32.34% | 36.19% | 23.08% | 16.16% | 15.69% |
| Selling, General & Admin | 342M | 0 | 791M | 804M | 778M | 738M | 837M | 895M | 894M | 1.03B | 1.1B | 1.58B | 2.02B | 2.04B | 1.94B | 1.76B | 1.64B | 1.47B | 1.27B | 980.8M | 877.31M | 632.16M | 496.13M | 411.14M | 393.63M | 412.06M | 380.07M | 282.1M | 293.4M | 110.5M | 58.2M |
| SG&A % of Revenue | - | - | 14.35% | 15.66% | 17.96% | 20.25% | 22.71% | 18.07% | 15.56% | 18.14% | 19.19% | 16.75% | 13.53% | 13.39% | 12.75% | 13.53% | 16.07% | 16.6% | 13.21% | 12.52% | 13.34% | 14.59% | 15.84% | 15.87% | 16.9% | 17.69% | 20.95% | 22.75% | 14.59% | 12.38% | 12.18% |
| Research & Development | 48M | 0 | 123M | 112M | 90M | 85M | 97M | 136M | 139M | 158M | 159M | 231M | 290M | 265M | 257M | 244.7M | 214.48M | 194.65M | 192.66M | 169.32M | 149.43M | 107.36M | 83.55M | 82.93M | 79.59M | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | 2.23% | 2.18% | 2.08% | 2.33% | 2.63% | 2.75% | 2.42% | 2.77% | 2.77% | 2.45% | 1.94% | 1.74% | 1.69% | 1.88% | 2.1% | 2.21% | 2.01% | 2.16% | 2.27% | 2.48% | 2.67% | 3.2% | 3.42% | - | - | - | - | - | - |
| Other Operating Expenses | 4M | 311M | 56M | 4M | 31M | -10M | 1.43B | 1.25B | 2.28B | 1.79B | 1.54B | 1.15B | 638M | 129M | 865M | 296K | 1.52M | 0 | -81.34M | 0 | -5.83M | 73.66M | -22.41M | -14.95M | 208.19M | -21.53M | 206.63M | 166.7M | 170.7M | 33.7M | 16.8M |
| Operating Income | 737M | 756M | 938M | 820M | 412M | 116M | -1.49B | -1.18B | -2.08B | -2.13B | -2.25B | -1.55B | 505M | 523M | 298M | 1.31B | 774M | 703.86M | 1.98B | 1.62B | 1.35B | 569.43M | 415.75M | 286.22M | 65.39M | 409.47M | 173.24M | 64.2M | 171.1M | 142M | 167.1M |
| Operating Margin % | 15.11% | 15.37% | 17.01% | 15.97% | 9.51% | 3.18% | -40.33% | -23.86% | -36.28% | -37.36% | -39.15% | -16.39% | 3.39% | 3.43% | 1.96% | 10.06% | 7.58% | 7.97% | 20.61% | 20.74% | 20.59% | 13.14% | 13.28% | 11.04% | 2.81% | 17.58% | 9.55% | 5.18% | 8.51% | 15.91% | 34.96% |
| Operating Income Growth % | - | -19.4% | 14.39% | 99.03% | 255.17% | 107.81% | -25.72% | 43.28% | 2.11% | 5.42% | -45.6% | -406.14% | -3.44% | 75.5% | -77.2% | 68.86% | 9.97% | -64.43% | 21.81% | 19.9% | 137.9% | 36.97% | 45.26% | 337.73% | -84.03% | 136.36% | 169.85% | -62.48% | 20.49% | -15.02% | 415.74% |
| EBITDA | 1.03B | 1.02B | 1.28B | 1.15B | 761M | 556M | -983M | -735M | -1.53B | -1.33B | -1.29B | -346M | 1.88B | 1.93B | 1.58B | 2.44B | 1.82B | 1.61B | 2.71B | 2.23B | 1.84B | 915.2M | 688.46M | 535.23M | 296.16M | 632.99M | 379.88M | 230.9M | 310.7M | 261.3M | 288.9M |
| EBITDA Margin % | 21.04% | 20.8% | 23.24% | 22.34% | 17.57% | 15.25% | -26.68% | -14.84% | -26.6% | -23.3% | -22.53% | -3.67% | 12.58% | 12.61% | 10.38% | 18.8% | 17.84% | 18.25% | 28.23% | 28.48% | 27.93% | 21.12% | 21.98% | 20.65% | 12.72% | 27.18% | 20.94% | 18.62% | 15.45% | 29.28% | 60.44% |
| EBITDA Growth % | -12.08% | -20.14% | 11.68% | 50.72% | 36.87% | 156.56% | -33.74% | 51.9% | -15.06% | -2.55% | -274.28% | -118.44% | -2.55% | 21.84% | -35.3% | 34.08% | 13.09% | -40.58% | 21.51% | 21.37% | 100.8% | 32.93% | 28.63% | 80.72% | -53.21% | 66.63% | 64.52% | -25.68% | 18.91% | -9.55% | 544.87% |
| D&A (Non-Cash Add-back) | 289M | 267M | 343M | 327M | 349M | 440M | 503M | 447M | 556M | 801M | 956M | 1.2B | 1.37B | 1.4B | 1.28B | 1.14B | 1.05B | 906.7M | 731.81M | 606.23M | 483.06M | 345.77M | 272.71M | 249.01M | 230.77M | 223.52M | 206.63M | 166.7M | 139.6M | 119.3M | 121.8M |
| EBIT | 692M | 703M | 897M | 688M | 348M | -83M | -1.56B | 4.18B | -2.14B | -2.08B | -2.38B | -1.63B | 243M | 652M | 198M | 1.2B | 603M | 734.22M | 1.93B | 1.62B | 1.35B | 664.18M | 402.26M | 286.22M | 65.39M | 409.47M | 173.24M | 64.2M | 171.1M | 213.5M | 167.1M |
| Net Interest Income | -82M | -91M | -102M | -123M | -179M | -260M | -251M | -362M | -614M | -579M | -499M | -468M | -498M | -516M | -486M | -453M | -460M | -367M | -243.68M | -171.28M | -102.92M | -69.14M | -59.72M | -74.82M | -82.88M | -71.39M | -48M | 0 | -54.5M | 0 | -16.5M |
| Interest Income | 45M | 46M | 56M | 59M | 31M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 11.85M | 6.66M | 11.21M | 3.85M | 1.91M | 2.64M | 2.62M | 11.27M | 0 | 0 | 0 | 0 |
| Interest Expense | 127M | 137M | 158M | 182M | 210M | 260M | 251M | 362M | 614M | 579M | 499M | 468M | 498M | 516M | 486M | 453.29M | 460M | 366.75M | 243.68M | 183.13M | 109.58M | 80.34M | 63.56M | 76.73M | 85.52M | 74.01M | 59.26M | 0 | 54.5M | 0 | 16.5M |
| Other Income/Expense | -174M | -202M | -199M | -314M | -274M | -459M | -328M | 5B | -673M | -486M | -632M | -550M | -760M | -693M | -586M | -560M | -577M | -404.38M | -288.63M | -179.85M | -115.78M | 61.52M | 28.48M | -86.7M | -75.77M | -71.78M | -102.69M | -39.5M | 0 | 0 | -34.4M |
| Pretax Income | 563M | 554M | 739M | 506M | 138M | -343M | -1.81B | 3.82B | -2.76B | -2.66B | -2.88B | -2.1B | -255M | -170M | -288M | 747M | 197M | 299.47M | 1.69B | 1.44B | 1.24B | 624.93M | 430.75M | 199.51M | -10.39M | 337.7M | 70.56M | 24.7M | -6.2M | 198M | 132.7M |
| Pretax Margin % | 11.54% | 11.26% | 13.4% | 9.85% | 3.19% | -9.41% | -49.23% | 77.09% | -48% | -46.6% | -50.04% | -22.22% | -1.71% | -1.11% | -1.89% | 5.75% | 1.93% | 3.39% | 17.6% | 18.44% | 18.83% | 14.42% | 13.75% | 7.7% | -0.45% | 14.5% | 3.89% | 1.99% | -0.31% | 22.19% | 27.76% |
| Income Tax | 83M | 97M | 189M | 57M | 87M | 86M | 85M | 135M | 34M | 137M | 496M | -145M | 284M | 144M | 462M | 542M | 396M | 19.55M | 249.56M | 332.76M | 321.47M | 159.17M | 92.67M | 50.6M | -4.36M | 123.05M | 109.45M | 8.5M | 34.6M | 45M | 7M |
| Effective Tax Rate % | 14.74% | 17.51% | 25.58% | 11.26% | 63.04% | -25.07% | -4.69% | 3.53% | -1.23% | -5.16% | -17.24% | 6.92% | -111.37% | -84.71% | -160.42% | 72.56% | 201.02% | 6.53% | 14.77% | 23.04% | 25.95% | 25.47% | 21.51% | 25.36% | 41.94% | 36.44% | 155.12% | 34.41% | -558.06% | 22.73% | 5.28% |
| Net Income | 463M | 431M | 506M | 417M | 26M | -450M | -1.92B | 3.66B | -2.81B | -2.81B | -3.39B | -1.99B | -584M | -345M | -778M | 189M | -217M | 253.77M | 1.39B | 1.07B | 896.37M | 467.42M | 330.15M | 143.35M | -6.03M | 214.65M | -42.35M | -20.9M | 64.8M | 187.7M | 98.2M |
| Net Margin % | 9.49% | 8.76% | 9.18% | 8.12% | 0.6% | -12.35% | -52.13% | 73.9% | -48.94% | -49.36% | -59% | -21.04% | -3.92% | -2.26% | -5.11% | 1.45% | -2.13% | 2.87% | 14.51% | 13.67% | 13.62% | 10.79% | 10.54% | 5.53% | -0.26% | 9.22% | -2.33% | -1.69% | 3.22% | 21.04% | 20.54% |
| Net Income Growth % | -1.49% | -14.82% | 21.34% | 1503.85% | 105.78% | 76.57% | -152.47% | 230.24% | 0.07% | 17.07% | -70.88% | -239.9% | -69.28% | 55.66% | -511.64% | 187.1% | -185.51% | -81.78% | 30.13% | 19.44% | 91.77% | 41.58% | 130.3% | 2477.31% | -102.81% | 606.85% | -102.63% | -132.25% | -65.48% | 91.14% | 769.03% |
| Net Income (Continuing) | 480M | 457M | 550M | 449M | 51M | -429M | -1.9B | 3.68B | -2.79B | -2.79B | -3.37B | -1.95B | -539M | -314M | -750M | 205M | -199M | 279.93M | 1.44B | 1.11B | 906.11M | 470.1M | 338.07M | 147.24M | -6.03M | 214.65M | -38.89M | 16.2M | -900K | 129.7M | 92.2M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -12.93M | 0 | -9.74M | 1.21M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 1M | -3M | -2M | -2M | 16M | 24M | 30M | 36M | 39M | 55M | 56M | 61M | 75M | 41M | 32M | 21M | 63.92M | 79.03M | 80.4M | 0 | 0 | 0 | 0 | 0 | 0 | 4.25M | 198.52M | 198.6M | 0 | 0 | 0 |
| EPS (Diluted) | 6.41 | 5.93 | 6.75 | 5.64 | 0.36 | -6.43 | -27.44 | 51.93 | -2.82 | -2.84 | -3.82 | -2.55 | -0.75 | -0.45 | -1.02 | 1.02 | 0.03 | 0.12 | 1.99 | 3.08 | 2.53 | 1.47 | 2.19 | 1.09 | -0.05 | 1.38 | -0.27 | -0.13 | 0.42 | 0.48 | 0.46 |
| EPS Growth % | 2.24% | -12.15% | 19.68% | 1466.67% | 105.6% | 76.57% | -152.84% | 1941.49% | 0.7% | 25.65% | -49.8% | -240% | -66.67% | 55.88% | -200% | 3300% | -75% | -93.97% | -35.39% | 21.74% | 72.11% | -32.88% | 100.92% | 2271.31% | -103.64% | 611.11% | -107.69% | -130.95% | -12.5% | 4.35% | 384.21% |
| EPS (Basic) | - | 5.96 | 6.93 | 5.79 | 0.37 | -6.43 | -27.44 | 51.93 | -2.82 | -2.84 | -3.82 | -2.55 | -0.75 | -0.45 | -1.02 | 1.03 | 0.03 | 0.12 | 2.04 | 3.16 | 2.59 | 1.56 | 2.43 | 1.13 | -0.05 | 1.38 | -0.27 | -0.13 | 0.42 | 0.49 | 0.46 |
| Diluted Shares Outstanding | 72.2M | 72.6M | 74.9M | 74M | 72M | 70M | 70M | 70M | 997M | 990M | 887M | 779M | 777M | 772M | 765M | 759.57M | 750.13M | 723M | 698.18M | 347.76M | 354.83M | 322.29M | 150.73M | 131.76M | 120.06M | 155.86M | 155.86M | 155.86M | 155.86M | 186.78M | 163.4M |
| Basic Shares Outstanding | 71.9M | 72.2M | 73M | 72M | 71M | 70M | 70M | 70M | 997M | 990M | 887M | 779M | 777M | 772M | 765M | 752.53M | 743.13M | 715M | 682.7M | 338.52M | 346.12M | 300.34M | 135.98M | 126.52M | 120.06M | 155.86M | 155.86M | 155.86M | 155.86M | 183.74M | 156.73M |
| Dividend Payout Ratio | - | 16.71% | 7.11% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
International market demand volatility
As indicated by the most recent quarterly financial data, WFRD has experienced a sustained period of top-line pressure, with revenue growth consistently negative over the last several quarters, culminating in a 3.4% year-over-year decline in 2026Q1 compared to the prior year's more robust performance levels.
The consistent negative growth trajectory suggests that the company may be prioritizing contract rationalization over volume expansion, potentially shedding lower-margin work to improve overall profitability. Investors should monitor whether this trend reflects a strategic pivot toward higher-value service niches or a broader loss of market share in competitive international drilling environments.
Based on reported income statements, WFRD's gross margin profile has exhibited significant instability, dropping from a peak of 36.6% in 2024Q2 to 29.5% in 2026Q1, which highlights the sensitivity of the company's cost structure to fluctuating utilization rates and potential inflationary pressures on specialized equipment inputs.
The erosion of gross margins suggests that the company's pricing power may be constrained by the cyclical nature of the oilfield services sector. This volatility warrants further investigation into whether the firm can maintain its competitive edge in Managed Pressure Drilling without sacrificing margin integrity during periods of reduced global rig activity.
According to the provided quarterly filings, WFRD has managed to maintain operating margins near 10.7% to 15.4% despite the revenue contraction, suggesting that recent organizational restructuring efforts have successfully streamlined administrative overhead and improved the company's ability to scale costs in alignment with lower activity levels.
The ability to preserve operating income despite top-line pressure indicates a disciplined approach to SG&A management. However, the sustainability of these margins remains contingent on the company's ability to continue optimizing its fixed-cost base without compromising the technical service quality that differentiates its core drilling and artificial lift offerings.
As reported in recent financial statements, WFRD's net income remains positive, though the quality of these earnings is periodically impacted by fluctuations in stock-based compensation, which reached $12 million in 2026Q1, representing a non-trivial portion of the company's quarterly net income of $108 million.
While the company has successfully transitioned to profitability post-reorganization, the reliance on non-operating adjustments and the impact of equity-based incentives warrant close scrutiny. Investors should assess whether the current net margin of 9.4% is driven by sustainable operational improvements or if it remains vulnerable to future tax rate anomalies or non-recurring items.
Based on an analysis of the income statement, short-term observers may focus on the 10.79% year-over-year revenue decline as a primary indicator of competitive weakness, potentially signaling that the company's niche dominance in artificial lift is insufficient to offset broader cyclical downturns in the global energy market.
The counter-narrative suggests that the current margin expansion may be a temporary result of cost-cutting rather than a structural improvement in pricing power. If the company fails to reverse the revenue contraction, the market may eventually discount the stock for its lack of growth, regardless of the recent improvements in balance sheet health.
Quick answers to the most common questions about buying WFRD stock.
For fiscal year 2025, Weatherford International plc (WFRD) reported total revenue of $4.92B. This represents a 928.9% increase compared to $478.0M in 1996.
Weatherford International plc (WFRD) is profitable, generating $431.0M in net income for the fiscal year ending 2025 with a net profit margin of 8.8%.
Weatherford International plc (WFRD) reported an operating income of $756.0M, resulting in an operating profit margin of 15.4%. This margin reflects the operational efficiency of the business before interest and taxes.
Weatherford International plc (WFRD) generated $1.07B in gross profit for the year, representing a gross profit margin of 21.7%. This demonstrates the company's core pricing power and production efficiency.