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Crude petroleum & natural gas company · DE · FY ends Dec · Revenue $1.06B · -5.97% margin · $19M FCF
The business is unprofitable at the operating level (-1.00% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue grew 3.7%, steady but not accelerating. Margins contracted 11.8pp, which offsets some of the top-line progress.
ROIC dropped from 7.51% to -0.51%, capital efficiency is deteriorating. Negative free cash flow of -$31M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$1.06B
▲ +3.7% YoY
Net Income (TTM)
-$99M
▼ -183.9% YoY
Op. Margin
-5.97%
▼ -11.8pp YoY
ROIC
-2.74%
▼ -8.0pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$19M
▲ +73.7% YoY
Op. Cash Flow (TTM)
$144M
▼ -54.2% YoY
Net Debt
N/A
Cash & Equiv.
N/A
3Y CAGR: +31.4%
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