olivLaw · US equity research
RPC, Inc. RES
Oil & Gas Field Services, NEC · SIC 1389 · Vertical: Oil & Gas Field Services, NEC (SIC 1389)
RPC, Inc. is a US provider of specialized oilfield services focused on well completion, production and maintenance, mainly in the United States. The company grew revenues in 2025 with the Pintail acquisition, but remained under pressure from excess frac capacity and competitive pricing. The first half of 2026 shows a pickup in activity, supported by higher oil prices.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 05 Nov 2026, RPC, Inc. (RES) stock was 5.59 USD (−5.25% on the day), with market capitalisation 1.2 bn USD, dividend yield 2.86%, beta 0.98, 52-week range 5.06–8.00 USD. Latest reported quarter (Q3 2026): revenue of 467.7 m USD (+4.6% YoY), net income of -41.9 m USD (−423.5% YoY), diluted EPS -0.20 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 37.5
- weak (30–45)
- Bollinger (20, 2)
- 5.61 – 6.65
- below the lower band · %B -0.02 · band width 16.9%
- SMA 50 / 200
- 6.11 / 6.38
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.03 / 0.04
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −7.5% | −1.1% | −6.4 pp | — |
| 3 months | −5.1% | −0.5% | −4.6 pp | — |
| 6 months | −21.6% | +4.4% | −26.0 pp | — |
| Year to date | +2.8% | +12.3% | −9.6 pp | — |
| 1 year | +3.3% | +13.5% | −10.2 pp | −13.9% |
| 3 years | −29.2% | +76.4% | −105.7 pp | −34.0% |
| 5 years | +4.1% | +63.7% | −59.6 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 335.4 m | 332.9 m | 420.8 m | 447.1 m | 425.8 m | 454.8 m | 460.9 m | 467.7 m |
| Cost of revenue | 250.2 m | 243.9 m | 317.7 m | 334.7 m | 336.6 m | 355.6 m | 345.7 m | 349.8 m |
| SG&A | 41.2 m | 42.5 m | 40.8 m | 44.6 m | 47.7 m | 48.2 m | 51.5 m | 50.8 m |
| Operating income | 10.5 m | 12.4 m | 15.5 m | 20.8 m | -4.0 m | 2.6 m | 14.8 m | -53.8 m |
| Depreciation & amortisation | 35.2 m | 35.6 m | 42.3 m | 44.1 m | 39.1 m | 42.9 m | 43.0 m | 42.7 m |
| Interest expense | 130.0 k | 131.0 k | 1.0 m | 949.0 k | 942.0 k | 830.0 k | 671.0 k | 533.0 k |
| Pre-tax income | 14.0 m | 16.5 m | 17.3 m | 22.6 m | 148.0 k | 4.3 m | 16.6 m | -51.9 m |
| Income tax | 1.3 m | 4.5 m | 7.2 m | 9.6 m | 3.2 m | 3.5 m | 4.5 m | -10.0 m |
| Net income | 12.8 m | 12.0 m | 10.1 m | 13.0 m | -3.1 m | 855.0 k | 12.1 m | -41.9 m |
| Diluted EPS | 0.06 ≈ | 0.06 | 0.05 | 0.06 | -0.02 ≈ | 0.00 | 0.05 | -0.20 |
| Operating cash flow | 94.2 m | 39.9 m | 53.1 m ≈ | 46.5 m ≈ | 61.9 m | 31.2 m | 43.4 m ≈ | 41.1 m ≈ |
| Capex | 40.5 m | 32.3 m | 43.1 m ≈ | 42.5 m ≈ | 30.6 m | 32.1 m | 38.7 m ≈ | 39.9 m ≈ |
| Dividends paid | 8.6 m | 8.7 m | 8.8 m ≈ | 8.8 m ≈ | 8.8 m | 8.9 m | 8.9 m ≈ | 8.9 m ≈ |
| Share repurchases | 10.0 k | 2.9 m | 0 ≈ | 0 ≈ | 0 | 3.5 m | 0 ≈ | 2.0 k ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1.7 bn | 1.2 bn | 598.3 m | 864.9 m | 1.6 bn | 1.6 bn | 1.4 bn | 1.6 bn |
| Revenue YoY | +7.9% | −29.0% | −51.1% | +44.6% | +85.2% | +1.0% | −12.5% | +15.0% |
| Net income | 175.4 m | -87.1 m | -212.2 m | 7.2 m | 218.4 m | 195.1 m | 91.4 m | 32.1 m |
| Net income YoY | +7.9% | −149.7% | unavailable | unavailable | +2,925.7% | −10.6% | −53.1% | −64.9% |
| Diluted EPS | 0.82 | -0.41 | -1.00 | 0.03 | 1.01 | 0.90 | 0.43 | 0.15 |
| Diluted EPS YoY | +9.3% | −150.0% | unavailable | unavailable | +3,266.7% | −10.9% | −52.2% | −65.1% |
| net % | 10.2% | -7.1% | -35.5% | 0.8% | 13.6% | 12.1% | 6.5% | 2.0% |
| Free cash flow | 146.4 m | -41.5 m | 12.9 m | -19.9 m | 61.7 m | 213.8 m | 129.5 m | 52.9 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 210.0 m USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 1.1 bn USD
- Total assets
- 1.5 bn USD
- Debt / equity
- unavailable
- Current ratio
- 3.24x
- ROE
- 2.9%
- ROA
- 2.2%
- FCF margin
- 3.3%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 598.3 m | 864.9 m | 1.6 bn | 1.6 bn | 1.4 bn | 1.6 bn | SEC (XBRL)· 27 Feb 2026verified |
| Cost of revenue | 480.7 m | 663.3 m | 1.1 bn | 1.1 bn | 1.0 bn | 1.2 bn | SEC (XBRL)· 27 Feb 2026verified |
| Gross profit | 117.6 m ≈ | 201.7 m ≈ | 513.6 m ≈ | 528.0 m ≈ | 378.4 m ≈ | 393.7 m ≈ | SEC (XBRL)· 27 Feb 2026derived |
| SG&A | 123.7 m | 123.6 m | 148.6 m | 165.9 m | 156.4 m | 175.6 m | SEC (XBRL)· 27 Feb 2026verified |
| Operating income | -309.6 m | 16.3 m | 287.9 m | 245.0 m | 97.5 m | 44.7 m | SEC (XBRL)· 27 Feb 2026verified |
| Depreciation & amortisation | 95.5 m | 72.7 m | 83.0 m | 108.1 m | 132.6 m | 161.2 m | SEC (XBRL)· 27 Feb 2026verified |
| EBITDA | -214.1 m ≈ | 89.0 m ≈ | 371.0 m ≈ | 353.1 m ≈ | 230.1 m ≈ | 205.9 m ≈ | SEC (XBRL)· 27 Feb 2026derived |
| Interest expense | 373.0 k | 1.9 m | 614.0 k | 341.0 k | 724.0 k | 3.0 m | SEC (XBRL)· 27 Feb 2026verified |
| Pre-tax income | -309.4 m | 16.4 m | 289.6 m | 256.2 m | 112.8 m | 56.5 m | SEC (XBRL)· 27 Feb 2026verified |
| Income tax | -97.2 m | 9.2 m | 71.3 m | 61.1 m | 21.4 m | 24.5 m | SEC (XBRL)· 27 Feb 2026verified |
| Net income | -212.2 m | 7.2 m | 218.4 m | 195.1 m | 91.4 m | 32.1 m | SEC (XBRL)· 27 Feb 2026verified |
| Diluted EPS | -1.00 | 0.03 | 1.01 | 0.90 | 0.43 | 0.15 | SEC (XBRL)· 27 Feb 2026verified |
| Weighted average diluted shares | — | — | 213.3 m | 212.9 m | 211.4 m | 212.2 m | SEC (XBRL)· 27 Feb 2026verified |
| Dividend per share | — | — | 0.04 | 0.16 | 0.16 | 0.16 | SEC (XBRL)· 27 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Revenue − Cost of revenue; Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 84.5 m | 82.4 m | 126.4 m | 223.3 m | 326.0 m | 210.0 m | SEC (XBRL)· 27 Feb 2026verified |
| Receivables | 161.8 m | 258.6 m | 416.6 m | 324.9 m | 276.6 m | 327.7 m | SEC (XBRL)· 27 Feb 2026verified |
| Inventories | 82.9 m | 79.0 m | 97.1 m | 110.9 m | 107.6 m | 119.0 m | SEC (XBRL)· 27 Feb 2026verified |
| Current assets | 428.4 m | 492.0 m | 703.3 m | 727.1 m | 732.8 m | 704.5 m | SEC (XBRL)· 27 Feb 2026verified |
| Property, plant & equipment, net | 264.4 m | 254.4 m | 333.1 m | 435.1 m | 513.5 m | 531.6 m | SEC (XBRL)· 27 Feb 2026verified |
| Goodwill | 32.2 m | 32.2 m | 32.2 m | 50.8 m | 50.8 m | 83.4 m | SEC (XBRL)· 27 Feb 2026verified |
| Intangibles (excl. goodwill) | — | — | 1.1 m | 12.8 m | 13.8 m | 97.5 m | SEC (XBRL)· 27 Feb 2026verified |
| Total assets | 790.5 m | 864.4 m | 1.1 bn | 1.3 bn | 1.4 bn | 1.5 bn | SEC (XBRL)· 27 Feb 2026verified |
| Accounts payable | 41.1 m | 74.4 m | 115.2 m | 85.0 m | 84.5 m | 119.8 m | SEC (XBRL)· 27 Feb 2026verified |
| Current liabilities | 79.6 m | 130.8 m | 178.6 m | 151.9 m | 181.9 m | 217.2 m | SEC (XBRL)· 27 Feb 2026verified |
| Total liabilities | 158.9 m | 222.6 m | 271.3 m | 264.3 m | 308.2 m | 369.2 m | SEC (XBRL)· 27 Feb 2026verified |
| Equity | 631.6 m † | 641.8 m † | 857.7 m † | 1.0 bn † | 1.1 bn † | 1.1 bn † | SEC (XBRL)· 27 Feb 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 78.0 m | 47.7 m | 201.3 m | 394.8 m | 349.4 m | 201.3 m | SEC (XBRL)· 27 Feb 2026verified |
| Capex | 65.1 m | 67.6 m | 139.6 m | 181.0 m | 219.9 m | 148.4 m | SEC (XBRL)· 27 Feb 2026verified |
| Free cash flow | 12.9 m ≈ | -19.9 m ≈ | 61.7 m ≈ | 213.8 m ≈ | 129.5 m ≈ | 52.9 m ≈ | SEC (XBRL)· 27 Feb 2026derived |
| Investing cash flow | -42.7 m | -47.6 m | -123.7 m | -241.7 m | -201.6 m | -273.7 m | SEC (XBRL)· 27 Feb 2026verified |
| Financing cash flow | -826.0 k | -2.2 m | -33.6 m | -56.2 m | -45.2 m | -43.6 m | SEC (XBRL)· 27 Feb 2026verified |
| Dividends paid | — | — | 8.6 m | 34.6 m | 34.4 m | 35.1 m | SEC (XBRL)· 27 Feb 2026verified |
| Share repurchases | 826.0 k | 567.0 k | 918.0 k | 21.1 m | 9.9 m | 2.9 m | SEC (XBRL)· 27 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
Risk
Valuation
olivLaw classification
- score weight coverage: 52.1% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 1.2 bn USD
Key indicators
Coverage and freshness
Score by group
52% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 2.10 – 2.83 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/Eunavailable · the base of the ratio is not positive
- Dividend discount (DDM)2.10 – 2.83 (Mid 2.41)
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: score weight coverage: 52.1% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | -1.8% | 22 (vs peers) | 12% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | 0.5% | 4 (on a fixed band) | 16% |
| EPS CAGR 3Y · Growth | -47.0% | 0 (on a fixed band) | 16% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | -13.6x | 0 (on a fixed band) | 12% |
| Current ratio · Balance sheet | 3.5x | 100 (on a fixed band) | 8% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 2.9% | 37 (on a fixed band) | 16% |
| Shareholder yield (distributions) · Returns | 3.1% | 45 (on a fixed band) | 12% |
| Payout ratio (FCF) · Returns | 97.7% | 32 (on a fixed band) | 8% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet40/100 · 2/3 factors with a value
- Growth2/100 · 2/2 factors with a value
- Quality· partial22/100 · 1/3 factors with a value
- Returns40/100 · 2/2 factors with a value
- Valuation· partial37/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
RPC, INC. (RES). Latest full fiscal year: 2025; data up to 2026-09-30.
Figures computed from the financial statements: revenue 1.6 bn USD in 2025; YoY growth 15.0%; net margin -1.8%; ROE -3.0%.
The estimated value range is 2.10–2.83 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 2.41 USD, the price of 5.59 USD leaves a potential of -56.9% (value / price − 1) and a margin of safety of -131.8% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (score weight coverage: 52.1% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Current ratio: 3.5x
What contradicts it
- Net margin: -1.8%
- Revenue CAGR 3Y: 0.5%
- EPS CAGR 3Y: -47.0%
- Interest coverage: -13.6x
- The price is above the estimated value range
Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, Net debt / EBITDA, P/E (TTM), EV/EBITDA.
Versus the vertical median
Oil & Gas Field Services, NEC (SIC 1389) · same industry (4-digit SIC) · compared with 18 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| SLBSlb Limited | 76.1 bn | 25.1 | 12.0% | 8.4% | −1.6% | +42% / −1% |
| HALHalliburton Company | 27.3 bn | 13.8 | 18.8% | 8.9% | −3.3% | +26% / −11% |
| OIIOceaneering International Inc | 3.4 bn | 10.3 | 31.1% | 11.4% | +4.6% | +39% / +65% |
| NESRNational Energy Services Reunited Corp. | 1.9 bn | 20.7 | 9.4% | 5.8% | +1.7% | +38% / unavailable |
| RESRpc, Inc. | 1.2 bn | — | -3.0% | -1.8% | +15.0% | +3% / −29% |
| HOSHornbeck Offshore Services, Inc. | 790.0 m | 20.1 | 2.5% | 3.0% | −4.9% | −20% / −42% |
| PUMPProPetro Holding Corp. | 738.4 m | — | 0.2% | 0.2% | −12.1% | −37% / −34% |
| WTTRSelect Water Solutions, Inc. | 622.7 m | 19.5 | 3.5% | 2.2% | −3.1% | +53% / +107% |
| ACDCProFrac Holding Corp. | 493.6 m | — | -57.4% | -22.8% | −11.4% | −23% / −66% |
| CLBCore Laboratories Inc. | 409.2 m | 26.5 | 5.7% | 3.0% | +0.5% | −41% / −50% |
| NGSNatural Gas Services Group, Inc. | 344.1 m | 16.6 | 7.3% | 10.8% | +9.9% | −14% / +74% |
| TUSKMammoth Energy Services, Inc. | 143.4 m | 10.1 | 5.3% | 17.1% | −2.9% | +62% / −33% |
| NINENine Energy Service, Inc. | 94.7 m | — | -214.6% | -9.1% | +1.4% | unavailable / unavailable |
| KLXEKLX Energy Services Holdings, Inc. | 20.4 m | — | — | -9.7% | −10.2% | −42% / −90% |
| RCONRecon Technology, Ltd | 8.7 m | — | -5.9% | -27.0% | +75.0% | −100% / −100% |
| WBIWaterBridge Infrastructure LLC | — | 399.2 | 0.5% | 0.5% | +66.2% | +5% / unavailable |
| LBRTLiberty Energy Inc. | — | 46.8 | 2.0% | 0.9% | −7.2% | −36% / −43% |
| NOANorth American Construction Group Ltd. | — | — | 8.0% | 2.6% | +10.2% | −34% / −54% |
| RNGRRanger Energy Services, Inc. | — | 20.1 | 5.1% | 2.6% | −4.2% | −6% / +30% |
1- and 3-year price returns: for RES from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 30 Jul 2026; since then the company filed 8-K (29 Oct 2026 · results), 10-Q (29 Oct 2026).
In brief
RPC, Inc. is a US provider of specialized oilfield services focused on well completion, production and maintenance, mainly in the United States. The company grew revenues in 2025 with the Pintail acquisition, but remained under pressure from excess frac capacity and competitive pricing. The first half of 2026 shows a pickup in activity, supported by higher oil prices 12.
SWOT
Strengths
- The company has a solid capital structure, with no borrowings drawn in mid-2026 and an extended credit maturity 23.
- Diversification across several service lines, including downhole tools and coiled tubing, reduces reliance on any single activity 1.
- Tier 4 dual-fuel fleets have maintained stronger utilization than older equipment 1.
Weaknesses
- Dependence on one large private customer, which accounted for a significant share of revenues, exposes the company to concentration risk 1.
- Margins declined in 2025 and operating cash flow fell compared with the prior year 1.
- Pressure pumping activity is affected by low prices and oversupplied capacity 1.
Opportunities
Risks
- Dependence on one large customerhigh
A single private E&P customer accounted for a significant share of revenues, and losing it could affect operating results 1.
- Oil price volatilityhigh
Lower prices could lead customers to cut investment, directly reducing demand for the company's services 1.
- Oversupply and pricing pressuremedium
Growing equipment efficiency has created excess capacity, which could keep prices low 12.
- Cost of financingmedium
Elevated interest rates could raise borrowing costs and weigh on cash flow if external financing becomes more expensive 1.
- Environmental and ESG ruleslow
Growing climate disclosure requirements and ESG expectations could create additional costs and legal exposure 1.
Investment thesis
What would need to be true (bull case)
- If oil prices stay high, customer activity could keep growing, as seen in the second quarter of 2026 2.
- The solid balance sheet and undrawn credit facility could let the company invest selectively in equipment 23.
- The Pintail acquisition and service-line diversification could support revenues over a longer horizon 1.
What would break the thesis
What to watch
- Trend in Adjusted EBITDA margin and operating cash flowQ3 2026
- Level of capital expenditure and utilization of pressure pumping fleets2026
- Average US rig count and oil pricesQ3 2026
- Executive leadership succession process2026
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 30 Jul 2026; since then the company filed 8-K (29 Oct 2026 · results), 10-Q (29 Oct 2026).
The business
RPC is headquartered in Atlanta, Georgia, and provides specialized oilfield services and equipment to independent and major oil and gas companies in the United States and, selectively, in international markets 1. Its activities are organized through service companies such as Cudd Energy Services, Cudd Pressure Control, Thru Tubing Solutions, Pintail Completions and Patterson Services, and it had 2,893 employees as of December 31, 2025 1. Demand depends on customers' decisions to invest in drilling and production, and therefore on oil and gas prices and industry activity levels 1. The Pintail acquisition, completed on April 1, 2025, added wireline activity in the Permian basin 1.
Segment revenues are split between Technical Services, which covers on-site work with equipment and personnel, and Support Services, which covers off-site equipment rental and pipe inspection 1. In 2025, Technical Services accounted for 94.4% of revenues and Support Services for 5.6% 1. The company says it has no significant sales backlog because the lead time between order and service is short 1.
The capital structure remained solid in mid-2026: at June 30, 2026 there were no outstanding borrowings under the $100 million credit facility, and the company extended the revolving loan maturity to 2031 23. The company declared a regular quarterly cash dividend of $0.04 per share, payable on September 10, 2026 3.
Segments
Market context
The US oilfield services market is cyclical and depends on oil and gas prices and the number of active rigs, whose average fell to 562 in 2025 1. The company describes an oversupply of capacity, particularly in pressure pumping, where efficiency gains have made pricing very competitive 1. In the second quarter of 2026, oil prices were higher than a year earlier while the average rig count fell 3.0% 2.
Rig count is used as a proxy for future activity, and consolidation among E&P companies reduces the number of customers and can shift demand 1. E&P companies have become more disciplined in capital spending, which could reduce activity volatility over the longer term if the trend holds 1.
Competitive position
The company says it operates in a highly competitive industry, competing with many large and small firms, including the largest integrated oilfield service providers 1. The principal competitive factors it cites are product and service quality and availability, safety reputation, technical proficiency and price 1.
If the oversupply of capacity persists, pricing pressure could remain high, particularly in pressure pumping, and providers with more efficient equipment could gain share 12.
- Liberty EnergyLBRT
Not named in the supplied sources; competition is described only generically as large and small industry rivals 1.
- HalliburtonHAL
Not named explicitly in the supplied sources; the sources refer only to the largest integrated oilfield service providers 1.
- ProPetroPUMP
Not named explicitly in the supplied sources; competition in pressure pumping is described as intense 1.
- Regional service providers
The sources mention numerous smaller and regional competitors without naming them 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Quarterly report29 Oct 2026
- Current report29 Oct 2026Results of operations · Financial statements and exhibits
- Current report08 Sept 2026Departure or appointment of officers
- Quarterly report30 Jul 2026
- Current report30 Jul 2026Results of operations · Financial statements and exhibits
- Current report07 Jul 2026Material agreement · Creation of a direct financial obligation · Financial statements and exhibits
- Current report23 Jun 2026Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
- Quarterly report08 May 2026
- Current report07 May 2026Results of operations · Financial statements and exhibits
- Current report30 Apr 2026Departure or appointment of officers · Shareholder vote
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / RPC, Inc. · 27 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / RPC, Inc. · 30 Jul 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / RPC, Inc. · 30 Jul 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.