RING ENERGY, INC. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data RING ENERGY, INC. 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

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	30.9	66.7	120	196	113	196	347	361	366	307
Cost of revenue	9.87	16	27.8	2.87	4.09	4.33	1.83	0.46
Gross profit	21	50.7	92.3	193	109	192	345	361
General and administrative	8.03	10.5	12.9	19.9	16.9	16.1	27.1	29.2	29.6	31.9
Operating income	-57	16	20	60.1	-269	95.8	192	146	133	-34.3
Interest expense	0.65	0	0.43	13.9	17.6	14.5	23.2	43.9	43.3	40.4
Interest income	0.06	0.29	0.1	0.01	0	0	0	0.26	0.49	0.29
Other non-operating income	-0.59	-3.8	-7.52	-16.9	9.25	-92.3	-44.7	-40.8	-45	-7.85
Pre-tax income	-57.6	12.2	12.4	43.3	-259	3.41	147	105	87.9	-42.2
Income tax	-20	10.4	3.45	13.8	-6	0.09	8.41	0.13	20.4	-7.45
Net income	-37.6	1.75	9	29.5	-253	3.32	139	105	67.5	-34.7
EBITDA	-45.5	36.5	59	116	-226	133	247	234	232	62.1
EPS, basic	-0.97	0.03	0.15	0.44	-3.48	0.03	1.14	0.55	0.34	-0.17
EPS, diluted	-0.97	0.03	0.15	0.44	-3.48	0.03	0.98	0.54	0.34	-0.17
Shares, basic (weighted)	38.7	51.4	59.5	66.6	72.9	99.4	121	191	198	205
Shares, diluted (weighted)	38.7	52.8	60.8	66.8	72.9	121	142	195	200	205

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	15	3.36	10	10	3.58	2.41	3.71	0.3	1.87	0.9
Receivables	3.45	12.8	12.6	22.9	15	24	42.4	39	36.2	30.9
Inventory						0	9.25	6.14	4.05	5.31
Other current assets	0.23	0.23	0.26	3.98	0.4	0.94	2.1	1.87	1.78	1.82
Total current assets	75.2	29.1	16.8	38.7	20.8	29.8	63.2	55.9	50.4	62.1
Property, plant and equipment	212	374	542	929	639	651	1,180	1,293	1,342	1,329
Lease right-of-use assets			0	1.87	1.49	1.28	1.74	2.5	1.91	1.29
Total assets	308	414	567	973	663	684	1,269	1,376	1,408	1,412
Accounts payable	9.1	44.5	51.9	54.6	32.5	46.2	40.5	37.6	39.3	40.2
Accrued liabilities							27.1	22.1	20.7	20.2
Deferred revenue						0	14.8	0	0
Total current liabilities	9.1	48.4	51.9	59.1	36.9	76.7	142	114	105	93.7
Lease liabilities						1.14	1.47	2.05	1.41	0.82
Total liabilities	17.1	57.5	104	449	369	384	608	590	549	570
Paid-in capital	335	398	495	526	551	553	775	796	800	813
Retained earnings	-44.7	-41.4	-32.4	-2.86	-256	-253	-114	-9.45	58	29
Shareholders' equity	291	357	463	524	295	301	661	787	864	842
Total equity	291	357	463	524	295	301	661	787	864	842
Total liabilities and equity	308	414	567	973	663	684	1,269	1,376	1,408	1,412
Shares outstanding	49.1	54.2	63.2	68	85.9	100	176	197	199	208

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-37.6	1.75	9	29.5	-253	3.32	139	105	67.5	-34.7
Depreciation and amortization	11.5	20.5	39	56.2	43	37.2	55.7	88.6	98.7	96.4
Stock-based compensation	2.27	3.69	3.87	3.08	5.36	2.42	7.16	8.83	5.51	6.14
Deferred income tax	-20	10.4	3.45	13.8	-6	0.09
Change in receivables	0.23	-9.98	0.67	-10	7.9	-9.48	-17.2	1.15	3.59	4.45
Change in inventory					0	0	-5.6	3.11	2.09	-1.26
Change in payables	-2.23	12.4	4.44	12.3	-8.38	15.4	50.8	-1.45	-5.08	0.47
Cash from operations	11.2	42.8	70.4	107	72.2	72.7	197	198	194	151
Acquisitions		0	0	-276	0	0	-178
Cash from investing	-38.3	-158	-203	-423	-43.8	-51.2	-309	-223	-151	-180
Stock issued	140	59	81.8	0	19.4	0.37	8.2	12.3	0	0
Cash from financing	93.8	59	121	323	-34.8	-22.7	113	21	-42	27.7
Net change in cash	66.7	-56.1	-11.6	6.64	-6.43	-1.17	1.3	-3.42	1.57	-0.96
Interest paid	0.65	0	0.32	10.4	16.9	14.1	19.8	38	39.2	32.4
Income taxes paid						0	0	0.07	0.07	0.35

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 $1.36 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	-53.0%	Operating income / revenue.
EBITDA margin	-25.3%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-76.5%	Pre-tax income / revenue.
Net margin	-68.0%	Net income / revenue.
Operating cash flow margin	48.1%	Cash from operations / revenue.
Return on equity (ROE)	-29.2%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-17.2%	Net income / average total assets.
Return on invested capital (ROIC)	-18.0%	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%.
Stock-based pay / revenue	2.1%	Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue	27.7%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-16.1%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-4.0%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	22.1%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-125.8%	Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y	-73.2%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-36.9%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income growth, 1y	-151.5%	Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y	-150.0%	EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	-22.4%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-8.5%	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	15.9%	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	-2.6%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	8.4%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	23.4%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	0.3%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	3.6%	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	16.3%	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	2.4%	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	13.1%	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	23.0%	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	0.54x	Current assets / current liabilities.
Quick ratio	0.39x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.01x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	41.2%	Total liabilities / total assets.
Interest coverage	-4.75x	Operating income / interest expense.
Working capital	-$52.1M	Current assets - current liabilities.
Tangible book value	$753.4M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.25x	Revenue / average total assets.
Fixed asset turnover	0.27x	Revenue / average property, plant and equipment.
Receivables turnover	7.45x	Revenue / average receivables.
Days sales outstanding	49 days	365 x average receivables / revenue.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$0.93	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	$1.36	Revenue / diluted weighted shares.
Operating cash flow per share	$0.66	Cash from operations / diluted weighted shares.
Book value per share	$2.89	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$2.89	Tangible book value / shares outstanding.
Cash per share	$0.00	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$354.3M	Share price x shares outstanding.
Enterprise value	$353.2M	Market cap + total debt - cash - short-term investments.
P/S	1.09x	Market cap / revenue.
P/B	0.47x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	0.47x	Market cap / tangible book value, when positive.
P/OCF	2.27x	Market cap / cash from operations, when positive.
EV/Sales	1.09x	Enterprise value / revenue.
Earnings yield	-62.2%	Net income / market cap (the inverse of P/E).

What was RING ENERGY, INC.'s revenue in fiscal 2025?

RING ENERGY, INC. reported revenue of $307.2M for fiscal 2025, 16.1% lower than the year before.

Was RING ENERGY, INC. profitable in fiscal 2025?

No. It reported a net loss of $34.7M.

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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