RPC Inc Dossier - Source-backed chat

RPC Inc

RESNYSE

SectorEnergy

IndustryOil & Gas Equipment & Services

Beta (adjusted)0.79

Intrinsic Value $5.78median of 6 methods · middle span $2-$8based on filings through 30 Jun 2026

Market Price $5.72Price as of 1 Oct 2026

Near fair valueIntrinsic value is 1% above the market price

−50% · IV below pricenear fair value ±15%IV above price · +50%

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Market Cap $1.3B

Enterprise Value $1.1B

Shares Outstanding 214.9M diluted

Moat Rating None

Next Earnings Date28 Oct 2026

Last ex-dividend10 Aug 2026

All prices and values are periodic snapshots, not live quotes. Source dates are shown for reference.

Thesis

Street consensus, scenarios, merits, risks, and invalidation triggers

AI-assisted

Thesis Summary

RPC Inc. (NYSE: RES) continues to demonstrate top-line resilience, supported by its strategic acquisition of Pintail Completions and steady demand for its Technical Services segment (particularly pressure pumping and downhole tools). However, the company faces persistent margin compression driven by rising materials, supplies, and fuel costs. While its debt-free balance sheet and strong cash position provide robust downside protection, near-term upside is capped by cautious upstream capital spending and competitive pricing dynamics in the North American land market.

This section is the 12-month view: analyst targets and the probability-weighted scenarios built from them. The intrinsic value at the top of this page answers a different question: what the business is worth today.

Street view · analyst 12-month targets5 analysts · as of 18 Aug 2026

Low · most bearish analyst$5.00

Mean target$6.40

High · most bullish analyst$9.00

Our research · scenarios, merits, risks, and invalidation triggersResearch as of 18 Sep 2026

Scenarios · 12-month scenario targetsAnchored at research date

Bear CaseDownside scenario

$5.0015%

A prolonged downturn in domestic drilling activity and aggressive pricing concessions by larger consolidated peers severely impact fleet utilization. Rising input cost inflation further compresses EBITDA margins below 10%, leading to negative free cash flow.

Base CaseCentral scenario

$6.4060%

Matches the consensus mean

RPC maintains steady fleet utilization with modest sequential revenue growth. Margin pressures from fuel and materials persist, keeping EBITDA margins stable around 11.5% to 12.5%. Capital allocation remains disciplined with routine maintenance CapEx and steady quarterly dividend payments.

Bull CaseUpside scenario

$9.0025%

Accelerated adoption of premium, low-emission Tier IV dual-fuel fleets and proprietary downhole technologies drives market share gains and pricing power. A rebound in natural gas drilling activity and successful integration of Pintail Completions expand operating margins beyond expectations.

Scenarios are anchored to street consensus at the research date, with our probabilities and rationale.

Key Investment Merits

Exceptional balance sheet strength with zero debt and over $200 million in cash, providing countercyclical flexibility.
Strategic positioning in high-intensity completion basins, bolstered by the Permian-focused Pintail Completions acquisition.
Consistent history of returning capital to shareholders through steady quarterly dividends.

Key Investment Risks

High exposure to cyclical North American land completion activity and commodity price volatility.
Intense competitive pressures in pressure pumping, leading to limited pricing power.
Input cost inflation (fuel, materials, and labor) squeezing operating and EBITDA margins.

Thesis Invalidation Triggers

EBITDA margins falling below 10% due to unmitigated cost inflation.
A significant sequential drop in Technical Services utilization rates.
A material shift in capital allocation away from conservative balance sheet management.

All scenarios are estimates and subject to change. Past performance is not indicative of future results.

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Explore this dossier

ValuationIntrinsic value, the six-method breakdown, peer medians, and your assumptions sandbox.Financial SnapshotRevenue, profitability, returns, balance sheet, dividends, and the filing-level detail.Qualitative AnalysisBusiness overview, strategic initiatives, and mergers, acquisitions & partnerships.Outlook & Key DatesForward estimates, reporting calendar, and the monitoring framework.