At a glance
RPC Inc is worth $1.49B, about 45 times its fiscal 2025 earnings. Revenue grew 15.0% to $1.63B in fiscal 2025, with 2.0% kept as profit; over 5 years it has grown 22.1% a year. It pays a 2.97% dividend yield, and returned $148.1M to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned +44.8% over the past year with dividends reinvested and +5.8% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 54.4% in the 2020 crash (S&P 500: 33.7%) and 53.5% in the 2022 bear market (S&P 500: 24.5%).
The business in plain English
RPC is an oilfield services company based in Atlanta. It does not produce oil or gas itself. It supplies crews, equipment and specialized tools that help producers finish new wells and maintain or repair existing ones. For work at the well site, it charges for the equipment, the crews who run it and the materials used. Its customers range from small independent producers to major multinational oil companies. They operate across the United States, including the southwest, mid-continent, Rocky Mountain and Appalachian regions, and in selected international markets.
Technical Services is the segment where RPC's people and equipment work directly on a customer's well. It produced 94.4% of 2025 revenue of about $1.63 billion. The largest service line is pressure pumping, also called hydraulic fracturing: pumping fluid and sand into a well at high pressure to crack shale rock so oil and gas can flow. It brought in 29.8% of revenue, mostly from the Permian basin. Downhole tools, including the company's own patented motors, added 24.2%. Wireline (lowering tools into a well on a cable) added 19.4%, coiled tubing 9.3% and cementing 6.4%.
Pressure pumping's share has shrunk from 47.7% in 2023. Wireline grew from 1.3% in 2024 after RPC bought Pintail Completions, a Permian wireline company, effective April 1, 2025. The smaller Support Services segment brought in 5.6% of revenue. It rents out drill pipe and other tools and offers pipe inspection, pipe storage and well-control training.
Price history
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RES +44.8% over the year to Oct 28, 2026, total return with dividends reinvested.
Latest results
- In Q3 FY2026 (ended Sep 30, 2026), revenue was $467.7M, up 4.6% from a year earlier, and net income was $-41.9M (-423.5%).
- For fiscal 2025, revenue was $1.63B (+15.0% year over year; +22.1% a year from FY2020 to FY2025) with a 2% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +22.1% good |
|---|---|
| Operating margin | 2.8% weak |
| Free cash flow margin | 3.3% watch |
| Return on equity (FY2025) | 2.9% weak |
| Return on assets (FY2025) | 2.2% weak |
| Net cash (cash minus debt) | $147.1M good |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $598.3M | $-212.2M | $12.9M |
| FY2021 | $864.9M | $7.2M | $-19.9M |
| FY2022 | $1.60B | $218.4M | $61.7M |
| FY2023 | $1.62B | $195.1M | $213.8M |
| FY2024 | $1.41B | $91.4M | $129.5M |
| FY2025 | $1.63B | $32.1M | $52.9M |
Valuation snapshot
| Market value | $1.49B |
|---|---|
| P/E ratio | 44.9 |
| Dividend yield | 2.97% |
Rank among 1514 US companies
Market value at each year end
RPC’s market value went from $4.31B at the end of 2016 to $1.49B on Oct 28, 2026, down 65%; since the end of 2025 it is up 24%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 28, 2026 | $1.49B | +24.3% |
| 2025 | $1.20B | -6.0% |
| 2024 | $1.28B | -18.9% |
| 2023 | $1.57B | -18.3% |
| 2022 | $1.93B | +96.6% |
| 2021 | $979.4M | +44.6% |
| 2020 | $677.5M | -39.7% |
| 2019 | $1.12B | -47.0% |
| 2018 | $2.12B | -61.7% |
| 2017 | $5.53B | +28.3% |
| 2016 | $4.31B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| RES price data to Oct 28, 2026 | +26.1% | +44.8% | -4.5% | +5.8% | -7.7% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +26.1% |
| 2025 | -4.8% |
| 2024 | -16.4% |
| 2023 | -16.4% |
| 2022 | +96.7% |
| 2021 | +44.1% |
| 2020 | -39.9% |
| 2019 | -46.1% |
| 2018 | -60.2% |
| 2017 | +29.6% |
| 2016 | +66.3% |
| 2015 | -7.3% |
| 2014 | -25.2% |
| 2013 | +49.7% |
| 2012 | +5.4% |
| 2011 | +2.3% |
| 2010 | +169.0% |
| 2009 | +12.5% |
| 2008 | -12.8% |
| 2007 | -28.4% |
| 2006 | -3.5% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 57.2% over that stretch · deepest drop along the way 70.6%, back to its old high 17 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 48.5% over that stretch · deepest drop along the way 54.4%, back to its old high 10.3 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Gained 57.4% over that stretch · deepest drop along the way 53.5%, not recovered by the end of the data |
Insider activity
Form 4 filings from 2025-10-30 to 2026-10-30 (25 read): 0 open-market purchases and 0 sales ($0.00).
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 5.9% | Jun 30, 2025 |
| The Vanguard Group | 4.95% | Mar 31, 2025 |
ETFs with the most weight in RES
| PXJ Invesco Oil & Gas Services ETF | 2.76% |
| GRPZ Invesco S&P SmallCap 600 GARP ETF | 1.43% |
| SIXS ETC 6 Meridian Small Cap Equity ETF | 1.12% |
| OIH VanEck Oil Services ETF | 0.8% |
| FYT First Trust Small Cap Value AlphaDEX Fund | 0.61% |
| CCNR ALPS | CoreCommodity Natural Resources ETF | 0.51% |
| DGRS WisdomTree US Smallcap Quality Dividend Growth Fund | 0.47% |
| BSVO EA Bridgeway Omni Small-Cap Value ETF | 0.34% |
What could go wrong
- Heavy reliance on one large customer. A private oil and gas producer accounted for about 15% of 2025 revenue, up from 13% in 2024. Losing this customer or doing less work for it could happen suddenly and hurt revenue and profits.
- Outside shareholders may have little say. Management, directors and a controlling shareholder group own a large stake. Other shareholders may have no real voice, fewer shares are available to trade, and company rules may make a takeover harder.
- Fracking rules could cut demand. Pressure pumping, mainly hydraulic fracturing, was 29.8% of 2025 revenue. Stricter federal or state fracking rules could raise costs, delay work, or reduce or even end demand for the service.
- Acquisitions bring integration and debt risks. Buying other companies, such as wireline firm Pintail Completions in April 2025, is a key part of RPC's strategy. Combining businesses can go wrong, and future deals may require heavy borrowing.
- Demand rises and falls with oil prices. When oil and gas prices drop, producers spend less on wells, so they need fewer of RPC's crews and less of its equipment. OPEC, a cartel controlling about 40% of world oil output, can move prices unpredictably.
- Customers depend on outside financing. Many producers pay for drilling by borrowing or issuing new shares. High interest rates can shrink their budgets. Nearly all customers are in energy, so in a downturn many may fail to pay at once.
Recent events
- Quarterly results released
- Executive or board change
- Quarterly results released
- Major agreement signed; New debt or financial obligation
- Executive or board change; Investor presentation or announcement
- Quarterly results released
- Executive or board change; Shareholder vote results
- Other company announcement
- Quarterly results released
- Executive or board change; Other company announcement
For income and retirement investors
RPC pays a dividend. It was $0.04 a share in 2022, then $0.16 in each of 2023, 2024 and 2025, so the company has no record of yearly increases. In 2025, dividends equaled 109.5% of earnings, so they were larger than diluted earnings of $0.15 a share. They used 66.4% of free cash flow, which is the cash left after spending on equipment. The yield was 2.97% as of October 28, 2026. RPC spent about $35 million buying back its own shares from 2021 through 2025, yet the number of shares outstanding rose 2.7% between October 2021 and July 2026.
The shares have fallen hard in downturns. They dropped 70.6% in the 2008 financial crisis and took 17 months to recover. In the 2020 COVID crash they fell 54.4% and recovered in about 10 months. During the 2022 bear market they still gained 57.4% overall. Even so, they fell 53.5% between April and July 2022, and that loss had not been recovered as of October 28, 2026. A single stock like RPC carries more risk than a diversified fund.
Questions investors ask
How does RPC make money?
RPC makes money by supplying crews, equipment and tools that oil and gas producers use to finish, maintain and repair wells. Technical Services, its on-site work, brought in 94.4% of 2025 revenue of about $1.63 billion. Its largest service lines were pressure pumping (hydraulic fracturing) at 29.8%, downhole tools at 24.2% and wireline at 19.4%. The other 5.6% came from Support Services, mainly tool rentals, pipe inspection and pipe storage.
Is RPC profitable?
Yes, but its profits have shrunk. Revenue rose 15% to about $1.63 billion in 2025, yet net income fell 64.9% to about $32 million, an operating margin of 2.8%. Diluted earnings were $0.15 a share, down from $1.01 in 2022. The quarter ended June 30, 2026, was better than a year earlier: revenue of $460.9 million rose 9.5%, and net income of $12.1 million rose 19%. As of October 28, 2026, the shares traded at 44.9 times 2025 earnings.
Does RPC raise its dividend every year?
No. RPC paid $0.16 a share in each of 2023, 2024 and 2025, after paying $0.04 in 2022, so it has no record of yearly increases. In 2025, dividends equaled 109.5% of earnings and 66.4% of free cash flow. That means cash flow covered the payout but profit did not. The dividend yield was 2.97% as of October 28, 2026.
Does RPC have a lot of debt?
No, not as of its latest balance sheet. As of June 30, 2026, RPC reported about $30 million of debt and roughly $179 million of cash and investments, so it held about $149 million more cash than debt. Shareholders' equity was about $1.11 billion. However, a Form 8-K filed July 7, 2026, reported a major agreement and a new debt or financial obligation. That came after the June 30 figures and is not included in them.
How has RPC stock performed over the long term?
RPC stock has lost ground over 10 years, despite strong gains over the past year. As of October 28, 2026, the share price was up 44.8% over one year and 32% over five years (5.8% a year), but down 55% over 10 years (7.7% a year). The swings are large. The stock fell 60.2% in 2018 and 46.1% in 2019 but rose 96.7% in 2022. Its deepest fall from a peak in 21 years of price history was 92.3%.