Ranger Energy Services, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Ranger Energy Services, 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

	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	52.8	154	303	337	188	293	609	637	571	547
Cost of revenue			237	263	148	263	504	532	473	457
Gross profit			66.2	73.9	39.9	29.8	105	105	98.3	90.3
General and administrative	11.4	30.4	29	26.7	22.1	34.6	39.9	29.5	27.8	29.6
Operating income	-4.5	-20.6	-2.1	12.4	-17.2	-40.5	19.7	36.9	28.6	15.4
Interest expense	0.5	6.3	3.7	5.8	3.4	5	7.3	3.5	2.6	1.2
Other non-operating income	-0.5	-6.3	-3.7	-5.8	-1.3	32.2	-3.7	-5.9	-2.6	2.4
Pre-tax income	-5	-26.9	-5.8	6.6	-18.5	-8.3	16	31	26	17.8
Income tax		0.4	0	2.2	0	-6.2	0.9	7.2	7.6	5.5
Net income to minority interests		-5.5	-2.5	2.6	-8.2	-10.7	0
Net income	-5	-6.6	-3.3	1.8	-10.3	8.6	15.1	23.8	18.4	12.3
EBITDA	2.1	-2.8	28.2	47.2	17.8	-3.7	64.1	76.8	72.7	61.7
EPS, basic		-0.78	-0.39	0.21	-1.21	0.73	0.66	0.97	0.82	0.55
EPS, diluted		-0.78	-0.39	0.21	-1.21	0.63	0.65	0.95	0.81	0.54
Shares, basic (weighted)		8.41	8.43	8.63	8.53	11.9	23	24.6	22.5	22.4
Shares, diluted (weighted)		8.41	8.43	8.63	8.53	13.6	23.4	25	22.9	22.7
Dividend per share								0.05		0.06

Balance sheet

	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	3.4	5.3	2.6	6.9	2.8	0.6	3.7	15.7	40.9	10.3
Receivables	13.4	32.1	45.4	41.5	25.9	80.8	91.2	85.4	68.4	77.9
Inventory		1.5	4.9	3.8	2.3	2.5	5.9	6.4	5.7	3.1
Other current assets	1.1	2.9	5.1	5.3	3.6	8.3	9.2	9.6	11.4	12.5
Total current assets	22.3	49.1	61.1	58.7	35.7	105	140	135	144	121
Property, plant and equipment	102	189	230	219	189	271	222	226	224
Lease right-of-use assets			0	6.5	5.8	6.8	11.2	9	7	11
Goodwill	1.6	9	0		0
Intangible assets	9.2	10.8	10	9.3	8.5	7.8	7.1	6.3	5.6	4.9
Other non-current assets	0.2	1.6	1.6	0.1	1.2	2.7	1.6	1	0.8	1.3
Total assets	136	260	303	294	241	393	382	378	382	419
Accounts payable	4.7	32	17.2	13.8	10.5	20.7	24.3	31.3	27.2	25.3
Accrued liabilities	2	11.6	18.5	18.4	9.3	30.3	36.1	29.6	28.2	25.4
Short-term debt	2.3	1.3	15.8	15.8	10	44.1	6.8	0.1	0	3.5
Total current liabilities	11.9	52.9	58.9	55.1	33	103	74.5	69	65.2	69.2
Long-term debt	9.8	5.8	44.7	26.6	14.5	18.4	11.6	0	0
Lease liabilities			0	4.5	5.2	5.8	9.6	7.2	4.8	8.4
Other non-current liabilities	1.1	3.8	0.3	0.7	3.1	5	8.1		0	0.1
Total liabilities	23.1	64	111	90.5	55.8	144	115	106	108	119
Total debt	12.1	7.1	60.5	42.4	24.5	62.5	18.4	0.1	0	3.5
Paid-in capital		110	112	122	124	260	263	266	270	302
Retained earnings		-6.6	-9.9	-8.1	-18.4	-8	7.1	28.4	42.2	48.9
Treasury stock			0	-0.7	-3.8	-3.8	-3.8	-23.1	-38.6	-50.9
Shareholders' equity		104	102	113	102	249	266	272	274	300
Minority interests		92	90.1	89.8	82.9	0
Total equity		196	192	203	185	249	266	272	274	300
Total liabilities and equity	136	260	303	294	241	393	382	378	382	419

Cash flow statement

	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-5	-27.3	-5.8	4.4	-18.5	-2.1	15.1	23.8	18.4	12.3
Depreciation and amortization	6.6	17.8	30.3	34.8	35	36.8	44.4	39.9	44.1	46.3
Stock-based compensation	0.5	1.2	2.1	3.3	3.7	3.2	3.8	4.8	5.8	6.5
Deferred income tax					0	-6.2	0.4	6.6	6.9	5.4
Change in receivables	-8.7	-12.4	-13.5	5.2	15.6	-49	-10.7	5.3	16.7	16.3
Change in inventory		0	-3.4	1.1	0.4	2.7	-3.4	-0.9	0.4	0.2
Change in payables	-1.2	2.6	0.2	-1.1	-3.3	4.1	2.8	6.6	-3.7	-9.8
Cash from operations	-5.2	-17.3	27.6	51.9	25.5	-39.4	44.5	90.8	84.5	69
Capital expenditures	-11.2	-21.7	-75.9	-24.2	-7.2	-5.6	-13.8	-36.5	-34.1	-26.1
Acquisitions	-16.3	-47.7	-4	0	0	-39.9	0.8		0	-52.5
Cash from investing	-25.4	-68.9	-74.4	-23.4	-5.4	-36.4	11.3	-29.7	-31.1	-76.1
Debt repaid	-2.6	-12	-37.6					-0.4	-0.1	0
Share buybacks			0	-0.7	-3.1	0	0	-19.3	-15.5	-12.2
Dividends paid	-3						0	-2.4	-4.5	-5.5
Cash from financing	31.1	88.1	44.1	-24.2	-24.2	73.6	-52.7	-49.1	-28.2	-23.5
Net change in cash	0.5	1.9	-2.7	4.3	-4.1	-2.2	3.1	12	25.2	-30.6
Free cash flow	-16.4	-39	-48.3	27.7	18.3	-45	30.7	54.3	50.4	42.9
Interest paid	0.5	0.5	-2.1	4.5	2.9	1.6	1.2	1.4	2	2
Income taxes paid								0.6	0.6	0.7

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to March 31, 2026; growth uses fiscal years. Valuation uses the share price of $15.51 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	17.3%	Gross profit / revenue.
Operating margin	3.4%	Operating income / revenue.
EBITDA margin	12.5%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	3.7%	Pre-tax income / revenue.
Net margin	2.6%	Net income / revenue.
FCF margin	3.1%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	9.6%	Cash from operations / revenue.
Effective tax rate	31.0%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	4.9%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	3.2%	Net income / average total assets.
Return on invested capital (ROIC)	4.2%	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	1.1%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	6.5%	Capital expenditures / revenue.
D&A / revenue	9.1%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-4.2%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-3.5%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	23.8%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-8.1%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-4.8%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	17.7%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-46.2%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-7.9%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA growth, 1y	-15.1%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-1.3%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	28.2%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-33.2%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-6.6%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS growth, 1y	-33.3%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-6.0%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-18.3%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	15.7%	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	22.0%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-14.9%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	11.8%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	18.6%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	9.6%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	4.1%	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	24.1%	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	9.9%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	3.2%	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	11.7%	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	-0.8%	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	-1.0%	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	21.6%	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	1.66x	Current assets / current liabilities.
Quick ratio	1.32x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.07x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.09x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	5.8%	Total debt / total assets.
Liabilities / assets	34.6%	Total liabilities / total assets.
Net debt	$19.9M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	0.28x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	13.0x	Operating income / interest expense.
Working capital	$63.1M	Current assets - current liabilities.
Goodwill and intangibles / assets	1.0%	(Goodwill + intangible assets) / total assets.
Tangible book value	$295.7M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.24x	Revenue / average total assets.
Inventory turnover	152x	Cost of revenue / average inventory.
Days inventory	2 days	365 x average inventory / cost of revenue.
Receivables turnover	4.79x	Revenue / average receivables.
Days sales outstanding	76 days	365 x average receivables / revenue.
Days payables	18 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	61 days	Days inventory + days sales outstanding - days payables.
FCF conversion	121.1%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	67.6%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.61	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	$23.75	Revenue / diluted weighted shares.
FCF per share	$0.74	Free cash flow / diluted weighted shares.
Operating cash flow per share	$2.29	Cash from operations / diluted weighted shares.
Book value per share	$12.50	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$12.30	Tangible book value / shares outstanding.
Cash per share	$0.29	(Cash + short-term investments) / shares outstanding.
Payout ratio	28.6%	Dividends paid / net income, when net income is positive.
Dividends / FCF	23.6%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	71.3%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$363.0M	Share price x shares outstanding.
Enterprise value	$382.9M	Market cap + total debt - cash - short-term investments.
P/E	24.7x	Market cap / net income. Only when net income is positive.
P/S	0.64x	Market cap / revenue.
P/B	1.21x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.23x	Market cap / tangible book value, when positive.
P/FCF	20.4x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	6.60x	Market cap / cash from operations, when positive.
EV/Sales	0.67x	Enterprise value / revenue.
EV/EBIT	19.6x	Enterprise value / operating income, when both are positive.
EV/EBITDA	5.36x	Enterprise value / EBITDA, when both are positive.
EV/FCF	21.5x	Enterprise value / free cash flow, when both are positive.
FCF yield	4.9%	Free cash flow / market cap.
Earnings yield	4.0%	Net income / market cap (the inverse of P/E).
Dividend yield	1.2%	Dividends paid over the period / market cap.
Shareholder yield	4.7%	(Dividends paid + share buybacks) / market cap.

What was Ranger Energy Services, Inc.'s revenue in fiscal 2025?

Ranger Energy Services, Inc. reported revenue of $546.9M for fiscal 2025, 4.2% lower than the year before.

Was Ranger Energy Services, Inc. profitable in fiscal 2025?

Yes. Net income was $12.3M, a net margin of 2.2%.

How much free cash flow did Ranger Energy Services, Inc. generate in fiscal 2025?

Cash from operations of $69.0M minus capital expenditures of $26.1M left free cash flow of $42.9M.

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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