# Weatherford International (WFRD.US)

Canonical: https://gigainvestors.com/s/WFRD

Analysis as of: 2026-10-16T07:33:05.796Z. Financial observations: FY2019–FY2026.

Listing currency: USD. Reporting currency: USD.

## Verdict

Not a wonderful business

Quality tests for Buy: not passed (profit record: fail; earnings resilience is evidence only). Published buy qualification: no.

Share price: $75.00 per share; close as of 2026-10-15.

Estimated value: low $83.38 per share, central $92.90 per share, high $105.57 per share. Buy at or below the central value $92.90 per share. Valuation as of 2026-10-16T07:33:05.796Z; scenarios are not confidence intervals.

Expected annual return: 12.1% at the stated quote. About 12.1% a year at today's price (required return 10.0%). required return 10.0% a year (10% floor; US 10-year bond 5.1% + 4 points).

## Checklist

### understandable: fail

- 4 revenue declines in the last 10 years (informational)

- operating margin variation exceeds 0.35

- Financial history: 8 years

- Years with declining revenue: 4

- Years with a net loss: 2

- Operating margin variation: 16.79×

Chart: Operating margin; fiscal year observations.

- FY2019: -0.24×

- FY2020: -0.40×

- FY2021: 0.03×

- FY2022: 0.10×

- FY2023: 0.16×

- FY2024: 0.17×

- FY2025: 0.15×

- LTM to Jun 2026: 0.13×

### moat: fail

- ROIC median below threshold

- ROIC worst years below threshold (more than 1 bad year allowed)

- ROIC, median of available years: 13.2%

- ROIC, second-lowest year: -25.5%

- Typical minus recent gross margin: 3.8 pp

- Typical gross margin (annual median): 25.5%

- Recent gross margin (lower of latest and 3-year median): 21.7%

- Years with nonpositive capital: 0

- Capital spending / revenue: 4.2%

- ROIC including acquisitions, ten-year median: 18.8%

Chart: ROIC excluding acquisitions; fiscal year observations.

- FY2019: -25.5%

- FY2020: -44.3%

- FY2021: 4.3%

- FY2022: 13.2%

- FY2023: 35.9%

- FY2024: 32.4%

- FY2025: 25.9%

### economics: pass

- Owner earnings / net income, 5-yr: 1.83×

- Cash conversion uses consolidated totals: No

- Owner earnings, five-year total: $1.7B

- Net income, five-year total: $930M

- Return on incremental invested capital: >100%

- Working capital / revenue, annual change: -1.1 pp

Chart: Annual owner cash / profit; fiscal year observations.

- FY2021: 0.21×

- FY2022: 9.35×

- FY2023: 1.28×

- FY2024: 1.09×

- FY2025: 1.10×

### management: pass

- buybacks leaned toward cheaper years (informational)

- ROIC first 3 years vs last 3 years: -25.5% vs 32.4%

- Per-share earnings: -6.43 to 5.94 (three-year endpoint medians)

- Management verdict uses per-share economic progress: Yes

- Ordinary dilution, 5-year annual growth: 0.7%

- Diluted shares, 5-year annual growth: 0.7%

- Per-share value change: $12.37

- Per-share value, starting three-year median: -$6.43

- Per-share value, ending three-year median: $5.94

- Buybacks concentrated in cheaper years (correlation): 1.00

- Average buyback yield: 0.9%

- Buyback history: 5 years

- Debt-funded buybacks: No

- ROIC, first three-year median: -25.5%

- ROIC, last three-year median: 32.4%

Chart: Earnings per share; fiscal year observations.

- FY2019: $52.30

- FY2020: -$27.44

- FY2021: -$6.43

- FY2022: $0.36

- FY2023: $5.67

- FY2024: $6.76

- FY2025: $5.94

### accounting: pass

- restructuring or one-time charges in at least three of five years

- Sloan accruals: -4.7%

- Receivables to sales index (DSRI): 1.16×

- Restructuring years, last five: 4

- Stock compensation / operating cash flow: 5.6%

- Earnings backed by cash: Yes

- Operating cash / earnings: 1.57×

- Accounting red flags: 1

- Goodwill and intangibles / equity: 0.17×

Chart: Sloan accruals; fiscal year observations.

- FY2019: 60.4%

- FY2020: -39.2%

- FY2021: -16.2%

- FY2022: -6.8%

- FY2023: -8.2%

- FY2024: -5.5%

- FY2025: -4.7%

## Holders

- [Alex Roepers](https://gigainvestors.com/AIM): tracked 13F investor; follow the investor page for holding quarter and amounts.

## Price story

Down 39% since Apr 2024 · "Weatherford Q2 Earnings Miss Estimates on Middle East Disruptions" (finance.yahoo.com, Jul 2026) · sales -2.8%

Story as of 2026-10-16T09:59:51.658Z; price observation 2026-10-15.

Price needs cash profits to shrink 2.3% a year for ten years

- 2025-07-23: Weatherford earnings beat by $0.89, revenue topped estimates ([investing.com](https://www.investing.com/news/earnings/weatherford-earnings-beat-by-089-revenue-topped-estimates-4147101))

- 2025-09-28: Why Weatherford International (WFRD) Is Up 9.2% After Securing Major Romgaz Contract and Refinancing ([finance.yahoo.com](https://finance.yahoo.com/news/why-weatherford-international-wfrd-9-112246873.html))

- 2025-10-02: Weatherford (WFRD) Secures Long-Term Deal to Provide Monitoring Systems for Romgaz Wells ([finance.yahoo.com](https://finance.yahoo.com/news/weatherford-wfrd-secures-long-term-055322347.html))

- 2026-02-04: Weatherford targets 2026 EBITDA up to $1.12B with margin-focused strategy amid international variability ([seekingalpha.com](https://seekingalpha.com/news/4547585-weatherford-targets-2026-ebitda-up-to-1_12b-with-margin-focused-strategy-amid-international?utm_source=feed_news_all&utm_medium=referral&feed_item_type=news))

- 2026-04-24: WFRD Q1 Earnings Top Estimates on Well Construction Segment's Strength ([finance.yahoo.com](https://finance.yahoo.com/sectors/energy/articles/wfrd-q1-earnings-top-estimates-164700924.html))

### Sales · FY2025–2026

sales -2.8%; source https://www.sec.gov/Archives/edgar/data/1603923/000160392326000014/wfrd-20251231.htm; observed 2026-02-04.

- FY2019: $5.0B 

- FY2020: $3.7B 

- FY2021: $3.6B 

- FY2022: $4.3B 

- FY2023: $5.1B 

- FY2024: $5.5B 

- FY2025: $4.9B 

- FY2026: $4.8B 

### Gross margin · FY2025

gross margin 21.7%; source https://www.sec.gov/Archives/edgar/data/1603923/000160392326000014/wfrd-20251231.htm; observed 2026-02-04.

- FY2019: 22.2% 

- FY2020: 23.8% 

- FY2021: 25.5% 

- FY2022: 30.3% 

- FY2023: 33.9% 

- FY2024: 34.6% 

- FY2025: 21.7% 

## Owner memo

Memo as of 2026-10-16T08:06:05.509Z.

### How it makes money

Operates in oil & gas equipment & services; annual sales are USD 4.9 billion.

- Source: https://www.sec.gov/Archives/edgar/data/1603923/000160392326000014/wfrd-20251231.htm (filed 2026-02-04); FY2025: revenue 4918000000; grossProfit 1067000000; margin = grossProfit / revenue.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); WFRD.US: Weatherford International plc, an energy services company, provides equipment and services for the drilling, evaluation, completion, production, and intervention of oil, geothermal, and natural gas wells worldwide. The company operates through three segments: Drilling and Evaluation; Well Construction and Completions; and Production and Intervention. It offers managed pressure drilling; directional drilling services, and logging and measurement services while drilling; services related to rotary-steerable systems, high temperature and high pressure sensors, drilling reamers, and circulation subs; open-hole and cased-hole logging services; wireline and drilling fluids; and intervention and remediation services. The company also provides tubular handling, management, and connection services; cementing products, including plugs, float and stage equipment, and torque-and-drag reduction technology for zonal isolation; completion tools, such as safety valves, production packers, downhole reservoir monitoring, flow control, isolation packers, multistage fracturing systems and sand-control technologies; liner hangers to suspend a casing string in high-temperature and high-pressure wells; and well Services. In addition, it offers re-entry, fishing, and well abandonment services, as well as patented downhole tools, tubular-handling equipment, pressure-control equipment, and drill pipe and tubulars; artificial lift systems, including reciprocating rod, progressing cavity pumping, and related automation and control systems, as well as gas, hydraulic, plunger, and hybrid lift systems, as well as related automation and control systems; and software, automation and flow measurement solutions. Further, it provides electrical and hydraulic power transmission to subsea equipment; and pressure pumping and reservoir stimulation services, such as acidizing, fracturing, cementing, and coiled-tubing intervention. The company was incorporated in 1972 and is based in Houston, Texas.

### Why customers stay

Margins ranged from 21.7% to 34.6% during 2023–25; it earns 13.2% on its capital.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-04); FY2023: grossProfit / revenue = 33.9%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-04); FY2024: grossProfit / revenue = 34.6%.

- Source: https://www.sec.gov/Archives/edgar/data/1603923/000160392326000014/wfrd-20251231.htm (filed 2026-02-04); FY2025: grossProfit / revenue = 21.7%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-04); 7-year return on capital observations [[2019,-0.2545695045062346],[2020,-0.4428291210863825],[2021,0.042902621722846444],[2022,0.13166175024582105],[2023,0.35914533983120617],[2024,0.3236465220388915],[2025,0.2589832927545966]]; median 0.13166175024582105. ROIC follows the displayed moat series; financial companies use return on tangible equity.

### Where the cash goes

Paid dividends in 3 of 7 years; bought back USD 101 million of shares.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-04); FY2019: growth capex 0; upkeep 250000000; owner earnings 3858000000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-04); FY2022: growth capex 0; upkeep 132000000; cash acquisitions 0; owner earnings 243000000. Growth capex plus acquisitions / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-04); FY2023: growth capex 0; upkeep 209000000; cash acquisitions 4000000; owner earnings 535000000. Growth capex plus acquisitions / owner earnings = 0.007476635514018692.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-04); FY2024: growth capex 0; upkeep 299000000; cash acquisitions 51000000; owner earnings 550000000. Growth capex plus acquisitions / owner earnings = 0.09272727272727273.

- Source: https://www.sec.gov/Archives/edgar/data/1603923/000160392326000014/wfrd-20251231.htm (filed 2026-02-04); FY2025: growth capex 0; upkeep 226000000; cash acquisitions 0; owner earnings 472000000. Growth capex plus acquisitions / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-04); Dividend observations: [[2019,0],[2020,0],[2021,0],[2022,30000000],[2023,0],[2024,36000000],[2025,72000000]]. Zero only counted when supported by a complete cash-flow statement.

- Source: https://www.sec.gov/Archives/edgar/data/1603923/000160392326000014/wfrd-20251231.htm (filed 2026-02-04); FY2025: cash repurchases 101000000 USD.

### Are managers owners

Insiders own 2.1% of the company.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); WFRD.US SharesStats.PercentInsiders = 2.125 percentage points; cache date 2026-10-16.

### What the price says

The price assumes cash profits shrink 2.3% yearly over ten years.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-04); Ten-year compound average after fade. Initial solved rate -0.04586642480753292. Price 75; FX 1; discount 0.1; same standard ten-year fade to terminal 0.03.  Closing-price date 2026-10-15.

## Monthly share-price history (USD per share)

- 2016-10: $4.82 per share

- 2016-11: $5.11 per share

- 2016-12: $4.99 per share

- 2017-01: $5.21 per share

- 2017-02: $5.66 per share

- 2017-03: $6.65 per share

- 2017-04: $5.77 per share

- 2017-05: $4.80 per share

- 2017-06: $3.87 per share

- 2017-07: $4.46 per share

- 2017-08: $3.83 per share

- 2017-09: $4.58 per share

- 2017-10: $3.47 per share

- 2017-11: $3.30 per share

- 2017-12: $4.17 per share

- 2018-01: $3.94 per share

- 2018-02: $2.63 per share

- 2018-03: $2.29 per share

- 2018-04: $2.95 per share

- 2018-05: $3.39 per share

- 2018-06: $3.29 per share

- 2018-07: $3.39 per share

- 2018-08: $2.42 per share

- 2018-09: $2.71 per share

- 2018-10: $1.35 per share

- 2018-11: $0.57 per share

- 2018-12: $0.56 per share

- 2019-01: $0.65 per share

- 2019-02: $0.65 per share

- 2019-03: $0.70 per share

- 2019-04: $0.55 per share

- 2019-05: $0.05 per share

- 2019-06: $0.05 per share

- 2019-07: $0.03 per share

- 2019-08: $0.03 per share

- 2019-09: $0.03 per share

- 2019-10: $0.03 per share

- 2019-11: $0.02 per share

- 2019-12: $27.95 per share

- 2020-01: $28.50 per share

- 2020-02: $20.90 per share

- 2020-03: $5.95 per share

- 2020-04: $4.50 per share

- 2020-05: $2.00 per share

- 2020-06: $1.97 per share

- 2020-07: $1.73 per share

- 2020-08: $3.03 per share

- 2020-09: $1.95 per share

- 2020-10: $2.09 per share

- 2020-11: $3.75 per share

- 2020-12: $6.00 per share

- 2021-01: $6.80 per share

- 2021-02: $11.70 per share

- 2021-03: $12.74 per share

- 2021-04: $10.60 per share

- 2021-05: $11.60 per share

- 2021-06: $18.20 per share

- 2021-07: $17.44 per share

- 2021-08: $15.76 per share

- 2021-09: $19.67 per share

- 2021-10: $29.06 per share

- 2021-11: $28.75 per share

- 2021-12: $27.72 per share

- 2022-01: $30.00 per share

- 2022-02: $28.40 per share

- 2022-03: $33.30 per share

- 2022-04: $32.28 per share

- 2022-05: $33.84 per share

- 2022-06: $21.17 per share

- 2022-07: $23.13 per share

- 2022-08: $28.14 per share

- 2022-09: $32.29 per share

- 2022-10: $41.68 per share

- 2022-11: $43.40 per share

- 2022-12: $50.92 per share

- 2023-01: $56.88 per share

- 2023-02: $66.62 per share

- 2023-03: $59.35 per share

- 2023-04: $64.63 per share

- 2023-05: $56.44 per share

- 2023-06: $66.42 per share

- 2023-07: $83.10 per share

- 2023-08: $88.52 per share

- 2023-09: $90.33 per share

- 2023-10: $93.09 per share

- 2023-11: $90.69 per share

- 2023-12: $97.83 per share

- 2024-01: $89.55 per share

- 2024-02: $102.61 per share

- 2024-03: $115.42 per share

- 2024-04: $123.62 per share

- 2024-05: $120.34 per share

- 2024-06: $122.45 per share

- 2024-07: $117.86 per share

- 2024-08: $104.94 per share

- 2024-09: $84.92 per share

- 2024-10: $79.00 per share

- 2024-11: $82.30 per share

- 2024-12: $71.63 per share

- 2025-01: $62.95 per share

- 2025-02: $61.91 per share

- 2025-03: $53.55 per share

- 2025-04: $41.40 per share

- 2025-05: $43.60 per share

- 2025-06: $50.31 per share

- 2025-07: $56.55 per share

- 2025-08: $63.71 per share

- 2025-09: $68.43 per share

- 2025-10: $73.69 per share

- 2025-11: $74.80 per share

- 2025-12: $78.26 per share

- 2026-01: $94.08 per share

- 2026-02: $105.46 per share

- 2026-03: $94.58 per share

- 2026-04: $110.35 per share

- 2026-05: $103.64 per share

- 2026-06: $81.50 per share

- 2026-07: $87.79 per share

- 2026-08: $97.77 per share

- 2026-09: $78.68 per share

- 2026-10: $75.00 per share

## Annual estimated value (USD per share)

- FY2023: low $54.41 per share, central $60.31 per share, high $68.16 per share

- FY2024: low $55.90 per share, central $62.12 per share, high $70.41 per share

- FY2025: low $84.06 per share, central $93.86 per share, high $106.90 per share

Historical values use today's bond yield for every fiscal year

Historical values use today's FX rate into trading currency for every fiscal year

Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates

## Sources

[Original 10-K filing](https://www.sec.gov/Archives/edgar/data/1603923/000160392326000014/wfrd-20251231.htm); period 2025-12-31, filed 2026-02-04.

Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights.