SANDRIDGE ENERGY INC financial statements

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

	FY2015	FY2018	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	769	357	349	267	115	169	254	149	125	156
Cost of revenue	24.4
Gross profit	744
General and administrative	150
Operating income	-4,643	39.6	-10.4	-447	-274	114	175	64.2	33.2	61
Interest expense	321	3.87	2.79	2.97	2	0.4
Other non-operating income	322	-1.32	1.23	-2.54	-4.49	2.65	2.19	10.6	7.53	3.72
Pre-tax income	-4,321	38.3	-9.15	-449	-278	117	178	74.8	40.8	64.7
Income tax	0.12	-8.75	-0.07	0	-0.65	0	-64.5	14	-22.2	-5.54
Net income to minority interests	-624
Net income	-3,698	47.1	-9.08	-449	-277	117	242	60.9	63	70.2
EBITDA	-4,275	172	129	-288	-215	130	193	86.4	65.7	104
EPS, basic	-7.16	1.45	-0.26	-12.68	-7.77	3.21	6.59	1.65	1.70	1.91
EPS, diluted	-7.16	1.44	-0.26	-12.68	-7.77	3.13	6.52	1.64	1.69	1.90
Shares, basic (weighted)	522	32.4	35.1	35.4	35.7	36.4	36.7	36.9	37.1	36.8
Shares, diluted (weighted)	522	32.7	35.1	35.4	35.7	37.3	37.2	37.1	37.2	36.9
Dividend per share									0.11

Balance sheet

	FY2015	FY2018	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	436	99.1	17.7	4.28	22.1	137	256	252	98.1	111
Receivables	127	71.3	45.5	28.6	19.6	21.5	34.7	22.2	23.9	26.2
Other current assets	19.9	16	0.27	0.54	0.08	0.08	7.75	1.31	0.78	5.81
Total current assets	674	195	73.3	38.6	50.8	162	305	278	128	148
Property, plant and equipment	492	226	201	189	103	97.8	92.2	86.5	80.7	75.6
Long-term investments	10.1
Other non-current assets	13.2	1.29	1.06	1.14	0.68	0.33	0.19	3.13	2.08	1.54
Total assets	2,922	1,120	1,024	608	261	353	600	574	582	644
Accounts payable	428	139	112	64.9	51.4	45.8	46.3	38.8	50.6	59
Accrued liabilities	42.7	21.5	12.9	7.02	5.64	3.94	3.47	4.15	2.91	3.21
Short-term debt	0	0	0	0	0
Total current liabilities	437	199	137	88.4	68.9	64	63.3	49.3	60.6	68
Long-term debt	3,562	37.5	0	57.5	20	0
Other non-current liabilities	14.8	3.18	4.76	6.42	3.19	1.8	1.66	2.18	0.94	0.82
Total liabilities	4,110	280	177	205	133	108	113	106	121	133
Total debt	3,562	37.5	0	57.5	20	0
Paid-in capital	5,301	1,038	1,055	1,059	1,062	1,063	1,152	1,071	1,000	981
Retained earnings	-6,993	-287	-296	-745	-1,023	-906	-664	-603	-540	-470
Treasury stock	-5.74
Shareholders' equity	-1,698	840	848	402	128	245	488	468	461	511
Minority interests	510
Total equity	-1,188	840	848	402	128	245	488	468	461	511
Total liabilities and equity	2,922	1,120	1,024	608	261	353	600	574	582	644
Shares outstanding	633	35.7	35.7	35.8	35.9	36.7	36.9	37.1	37.2	36.8

Cash flow statement

	FY2015	FY2018	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-4,321	47.1	-9.08	-449	-277	117	242	60.9	63	70.2
Depreciation and amortization	367	132	139	159	58.1	15.4	17.9	22.2	32.5	42.9
Stock-based compensation	18.4	15.8	23.4	4.25	3.01	1.39	1.53	1.95	2.35	2.74
Deferred income tax	0	0	0	0	0	0	-64.5	14	-22.2	-5.54
Change in receivables	202	0.12	16.6	15.8	5.87	0.84	-13.2	12.1	-0.84	-3.46
Change in payables	-86.5	-2.2	-4.26	-17.2	-13	-2.24	-5.25	-1.41	2.81	-1.42
Cash from operations	374	181	146	121	36.2	110	165	116	73.9	100
Capital expenditures	-879			-192	-8.3	-11.6	-44.1	-26.4	-26.4	-58.6
Cash from investing	-1,040	-246	-183	-190	25.1	23	-45.1	-36.2	-155	-64
Debt issued	2,065	0	10	211	59	0	0
Debt repaid	-939	0	-46.3	-154	-96.5	-20	0	0
Stock issued				0	0	0.02	0.08	0.09	0	0
Share buybacks	0						0	0	-0.23	-6.4
Dividends paid						0	0	-81.5	-72.3	-15.9
Cash from financing	920	-8.22	-43.7	54.8	-39	-22	-1.64	-82.9	-73.7	-23.3
Net change in cash	254	-72.8	-81.7	-13.7	22.3	111	118	-3.52	-154	12.8
Free cash flow	-506			-70.4	27.9	98.7	121	89.2	47.5	41.5
Interest paid	296	2.44	4.05	2.16	1.26	0.18	0.22	0.1	0.13	0.3
Income taxes paid	0.09	4.35	4.38	0	0.62	0	0

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 $13.87 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	41.1%	Operating income / revenue.
EBITDA margin	66.9%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	43.0%	Pre-tax income / revenue.
Net margin	46.1%	Net income / revenue.
FCF margin	23.6%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	66.2%	Cash from operations / revenue.
Effective tax rate	-7.1%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	15.3%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	12.4%	Net income / average total assets.
Return on invested capital (ROIC)	13.6%	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	1.6%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	42.6%	Capital expenditures / revenue.
D&A / revenue	25.8%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	24.8%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-15.0%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	6.3%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	83.4%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-29.7%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA growth, 1y	58.0%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-18.7%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income growth, 1y	11.5%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-33.8%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS growth, 1y	12.4%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-33.7%	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	35.4%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-15.3%	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	22.6%	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	-12.6%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	-29.9%	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	8.3%	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	10.9%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	1.5%	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	31.9%	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	10.7%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	2.4%	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	19.8%	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	-0.2%	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	0.7%	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	2.62x	Current assets / current liabilities.
Quick ratio	2.42x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	1.96x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	18.8%	Total liabilities / total assets.
Working capital	$93.9M	Current assets - current liabilities.
Tangible book value	$542.7M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.27x	Revenue / average total assets.
Fixed asset turnover	2.48x	Revenue / average property, plant and equipment.
Receivables turnover	6.76x	Revenue / average receivables.
Days sales outstanding	54 days	365 x average receivables / revenue.
FCF conversion	51.2%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	64.3%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$2.24	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	$4.86	Revenue / diluted weighted shares.
FCF per share	$1.15	Free cash flow / diluted weighted shares.
Operating cash flow per share	$3.21	Cash from operations / diluted weighted shares.
Book value per share	$14.64	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$14.64	Tangible book value / shares outstanding.
Cash per share	$3.06	(Cash + short-term investments) / shares outstanding.
Payout ratio	26.7%	Dividends paid / net income, when net income is positive.
Dividends / FCF	52.2%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	1.2%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$514.2M	Share price x shares outstanding.
Enterprise value	$400.9M	Market cap + total debt - cash - short-term investments.
P/E	6.20x	Market cap / net income. Only when net income is positive.
P/S	2.86x	Market cap / revenue.
P/B	0.95x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	0.95x	Market cap / tangible book value, when positive.
P/FCF	12.1x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	4.32x	Market cap / cash from operations, when positive.
EV/Sales	2.23x	Enterprise value / revenue.
EV/EBIT	5.41x	Enterprise value / operating income, when both are positive.
EV/EBITDA	3.33x	Enterprise value / EBITDA, when both are positive.
EV/FCF	9.43x	Enterprise value / free cash flow, when both are positive.
FCF yield	8.3%	Free cash flow / market cap.
Earnings yield	16.1%	Net income / market cap (the inverse of P/E).
Dividend yield	4.3%	Dividends paid over the period / market cap.
Shareholder yield	4.4%	(Dividends paid + share buybacks) / market cap.

What was SANDRIDGE ENERGY INC's revenue in fiscal 2025?

SANDRIDGE ENERGY INC reported revenue of $156.4M for fiscal 2025, 24.8% higher than the year before.

Was SANDRIDGE ENERGY INC profitable in fiscal 2025?

Yes. Net income was $70.2M, a net margin of 44.9%.

How much free cash flow did SANDRIDGE ENERGY INC generate in fiscal 2025?

Cash from operations of $100.1M minus capital expenditures of $58.6M left free cash flow of $41.5M.

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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