BATTALION OIL CORP financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data BATTALION OIL CORP files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2014	FY2015	FY2017	FY2018	FY2020	FY2020	FY2022	FY2023	FY2024	FY2025
Revenue	1,148	550	378	227	148	285	359	221	194	166
General and administrative	117	87.8	111	62.1	18.5	16.5	17.6	19	18.4	14.6
Operating income	-58.4	-2,745	715	92.1	-262	103	152	17.6	-11.7	-6.64
Interest expense						0.4	5.4	36.5	29	28.8
Interest income								1.24	2.12	2.26
Other non-operating income	373	831	-185	49.6	32.1	-132	-134	-20.6	-20.1	18.5
Pre-tax income	315	-1,914	531	142	-230	-28.3	18.5	-3.05	-31.9	11.9
Income tax	-1.08	9.09	-5	95.8	0	0	0	0	0	0
Net income	316	-1,923	536	46	-230	-28.3	18.5	-3.05	-31.9	11.9
EPS, basic	3.40	-18.66	3.67	0.29	-14.18	-1.74	1.14	-0.92	-3.90	-2.24
EPS, diluted	2.93	-18.66	3.65	0.29	-14.18	-1.74	1.12	-0.92	-3.90	-2.24
Shares, basic (weighted)	83.2	108	133	157	16.2	16.3	16.3	16.4	16.5	16.5
Shares, diluted (weighted)	108	108	134	157	16.2	16.3	16.5	16.4	16.5	16.5

Balance sheet

	FY2014	FY2015	FY2017	FY2018	FY2020	FY2020	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	43.7	8.03	424	46.9	4.3	46.9	32.7	57.5	19.7	28
Receivables	277	174	36.4	35.7	32.2	36.8	38	23	26.3	12.1
Inventory	4.69	4.64
Other current assets	0.06	0.05	0.05	0.04	0.11	0	0.08	0.07	0.06	0.1
Total current assets	703	557	472	145	47.8	87.9	88.2	90.5	54.1	57.2
Property, plant and equipment	112	108	97.2	122	2.39	2.43	3.23	2.82	2.21	1.87
Lease right-of-use assets					0.31	0.72	0.35	1.03	0.45	0.84
Other non-current assets				1.61	2.35	2.27	2.83	17.7	2.28	3.36
Total assets	6,383	3,459	1,644	2,084	346	390	485	485	431	461
Accounts payable	60.5	47.3	35.7	69	22.7	25.3	42.9	24.9	15.7	12.6
Accrued liabilities	3.17	2.83	9.81	3.42	3.22	3.74	2.3	0.52	1.47	0.39
Short-term debt					1.72	0.09	35.1	50.1	12.2	22.5
Total current liabilities	745	295	150	162	83.2	122	165	134	77.7	63.6
Long-term debt	3,747			613	158	182	183	140	146	181
Lease liabilities						0.35		0.49	0.08	0.1
Other non-current liabilities	5.96	6.26				4	4.14	2.08
Total liabilities	4,611	3,406	572	887	257	327	401	417	427	493
Total debt	3,695	2,874	409	613	160	200	235	200	162	208
Paid-in capital	2,995	3,283	1,016	1,095	330	332	335	321	289	240
Retained earnings	-1,223	-3,231	55.7	102	-240	-268	-250	-253	-285	-273
Shareholders' equity	1,772	52.4	1,072	1,197	90	63.7	84.6	68	4.12	-32.8
Total equity	1,772	52.4	1,072	1,197	90	63.7	84.6	68	4.12	-32.8
Total liabilities and equity	6,383	3,459	1,644	2,084	346	390	485	485	431	461
Shares outstanding	85.6	123	149	161	16.2	16.3	16.3	16.5	16.5	16.5

Cash flow statement

	FY2014	FY2015	FY2017	FY2018	FY2020	FY2020	FY2022	FY2023	FY2024	FY2025
Net income	316	-1,923	536	46	-230	-28.3	18.5	-3.05	-31.9	11.9
Stock-based compensation	18.7	14.5	36.8	15.3	2.58	2.01	2.21	-1.07	0.15	-0.11
Deferred income tax				95.8			0	0	0	0
Change in receivables	85.8	86.4	103	0.38	13.5	-4.65	0.59	15.7	-2.77	14.5
Change in inventory	0.46	-0.59
Change in payables	-40.2	-53	-77.7	22.4	-18	0.87	18.5	-35	-2.95	-11.1
Cash from operations	668	467	115	67.2	50.2	68.6	78.8	17.6	35.4	39.1
Capital expenditures	-43.1
Cash from investing	-1,271	-667	599	-706	-72.4	-51.9	-126	-51.8	-65.4	-75
Debt issued	2,276	1,834	1,349	438	148	374	35.2		162	63
Debt repaid	-1,719	-1,644	-1,923	-232	-132	-332	-0.1	-35.1	-200	-17
Stock issued		15.4		63.5
Cash from financing	644	164	-289	262	16.2	27.4	31.8	59.1	-7.73	44.1
Net change in cash	40.9	-35.7	424	-377	-5.98	44.1	-15.5	24.8	-37.8	8.25
Free cash flow	625
Interest paid	133	204	90.8	37.5	7.58		19.9	28.7	22.3	27.2
Income taxes paid	-8.6	-3.08	1.25	-5	-1.25

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $1.05 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	-3.2%	Operating income / revenue.
Pre-tax margin	-24.5%	Pre-tax income / revenue.
Net margin	-24.5%	Net income / revenue.
Operating cash flow margin	16.6%	Cash from operations / revenue.
Return on equity (ROE)	-19.6%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-9.2%	Net income / average total assets.
Return on invested capital (ROIC)	-1.5%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-14.4%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-22.7%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	2.3%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income CAGR, 3y	-13.8%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow growth, 1y	10.6%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-20.8%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-4.9%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-895.9%	Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y	6.9%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-1.7%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	5.9%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	0.0%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-0.1%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	0.3%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	2.19x	Current assets / current liabilities.
Quick ratio	1.99x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	1.69x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.80x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	37.6%	Total debt / total assets.
Liabilities / assets	53.0%	Total liabilities / total assets.
Net debt	$79.4M	Total debt - cash - short-term investments. Negative means more cash than debt.
Interest coverage	-0.21x	Operating income / interest expense.
Working capital	$58.4M	Current assets - current liabilities.
Tangible book value	$203.1M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.38x	Revenue / average total assets.
Fixed asset turnover	88.7x	Revenue / average property, plant and equipment.
Receivables turnover	11.3x	Revenue / average receivables.
Days sales outstanding	32 days	365 x average receivables / revenue.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$0.88	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$3.61	Revenue / diluted weighted shares.
Operating cash flow per share	$0.60	Cash from operations / diluted weighted shares.
Book value per share	$5.22	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$5.22	Tangible book value / shares outstanding.
Cash per share	$2.14	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$60.1M	Share price x shares outstanding.
Enterprise value	$139.5M	Market cap + total debt - cash - short-term investments.
P/S	0.37x	Market cap / revenue.
P/B	0.30x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	0.30x	Market cap / tangible book value, when positive.
P/OCF	2.22x	Market cap / cash from operations, when positive.
EV/Sales	0.86x	Enterprise value / revenue.
Earnings yield	-66.4%	Net income / market cap (the inverse of P/E).

What was BATTALION OIL CORP's revenue in fiscal 2025?

BATTALION OIL CORP reported revenue of $166.0M for fiscal 2025, 14.4% lower than the year before.

Was BATTALION OIL CORP profitable in fiscal 2025?

Yes. Net income was $11.9M, a net margin of 7.2%.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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