NYSE : SOC
Sable Offshore Corp. — Financial statements
Energy · Oil & Gas Drilling · United States
Last price 2.88 USD (Oct 30, 2026, 10:00 AM EDT) · Market cap 552.58M
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cost of Revenue | 315.86M | 219.20M | 95.20M | 60.69M | ||
| Gross Profit | -177.47M | -219.20M | -95.20M | -60.69M | ||
| Selling, General & Admin | 185.12M | 176.20M | 144.05M | 12.76M | 6.15M | 1.68M |
| Other Operating Expenses | -8.83M | -8.83M | -4.07M | -801.00K | ||
| Operating Expenses | 218.94M | 180.25M | 152.35M | 32.98M | 6.15M | 1.68M |
| Operating Income | -396.41M | -399.45M | -247.55M | -93.67M | -6.15M | -1.68M |
| Interest Expense | -123.96M | -88.25M | -67.31M | |||
| Interest & Investment Income | 3.99M | 16.15K | ||||
| Other Non Operating Income (Expenses) | 106.52M | 89.20M | -227.45M | 327.26K | 5.94M | |
| EBT Excluding Unusual Items | -413.85M | -398.49M | -542.32M | -93.67M | -1.83M | 4.27M |
| Merger & Restructuring Charges | -16.80M | |||||
| Legal Settlements | -70.00M | |||||
| Pretax Income | -413.85M | -398.49M | -629.12M | -93.67M | -1.83M | 4.27M |
| Income Tax Expense | 19.94M | 11.67M | -48.00K | 757.07K | ||
| Net Income | -433.79M | -410.16M | -629.07M | -93.67M | -2.59M | 4.27M |
| Preferred Dividends & Other Adjustments | -11.79M | |||||
| Net Income to Common | -433.79M | -410.16M | -617.28M | -93.67M | -2.59M | 4.27M |
| Shares Outstanding (Basic) | 128.55M | 98.18M | 67.02M | 18.06M | 35.94M | 31.61M |
| Shares Outstanding (Diluted) | 128.55M | 98.18M | 67.02M | 18.06M | 35.94M | 31.61M |
| EPS (Basic) | -3.37 | -4.18 | -9.21 | -5.19 | -0.07 | 0.14 |
| EPS (Diluted) | -3.37 | -4.18 | -9.21 | -5.19 | -0.07 | 0.14 |
| Free Cash Flow | -558.76M | -769.33M | -257.74M | -70.10M | -1.71M | -2.01M |
| Free Cash Flow Per Share | -4.35 | -7.84 | -3.85 | -3.88 | -0.05 | -0.06 |
| EBITDA | -353.75M | -386.56M | -235.19M | -72.66M | ||
| D&A For EBITDA | 42.66M | 12.89M | 12.36M | 21.02M | ||
| EBIT | -396.41M | -399.45M | -247.55M | -93.67M | -6.15M | -1.68M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 21.60M | 97.68M | 300.38M | 100.26K | 322.77K | |
| Cash & Short-Term Investments | 21.60M | 97.68M | 300.38M | 100.26K | 322.77K | |
| Inventory | 25.67M | 26.74M | 15.34M | 16.21M | ||
| Prepaid Expenses | 9.97M | 11.28M | 4.17M | 88.21K | 521.88K | |
| Restricted Cash | 35.39M | |||||
| Total Current Assets | 107.35M | 135.70M | 355.27M | 16.21M | 188.47K | 844.65K |
| Property, Plant & Equipment | 1.61B | 1.58B | 1.21B | 695.37M | ||
| Other Long-Term Assets | 42.88M | 28.01M | 16.21M | 290.72M | 287.59M | |
| Total Assets | 1.76B | 1.74B | 1.58B | 711.58M | 290.91M | 288.44M |
| Accounts Payable | 54.55M | 25.24M | 16.81M | 3.23M | 1.99M | 275.50K |
| Accrued Expenses | 144.12M | 74.11M | 67.91M | 2.15M | ||
| Short-Term Debt | 1.78M | 956.12K | ||||
| Current Portion of Long-Term Debt | 236.75M | 921.58M | ||||
| Current Portion of Leases | 1.77M | 918.00K | 1.15M | |||
| Current Income Taxes Payable | 330.15K | |||||
| Other Current Liabilities | 10.95M | 718.00K | 35.04M | 11.37M | 2.63M | |
| Total Current Liabilities | 446.36M | 1.02B | 120.67M | 17.90M | 6.74M | 1.23M |
| Long-Term Debt | 732.09M | 833.54M | ||||
| Long-Term Leases | 18.70M | 19.34M | 16.99M | 5.32M | ||
| Long-Term Deferred Tax Liabilities | 39.81M | 12.83M | 1.16M | |||
| Other Long-Term Liabilities | 129.69M | 150.92M | 226.62M | 349.33M | 302.50M | 300.15M |
| Total Liabilities | 1.37B | 1.21B | 1.20B | 372.56M | 309.23M | 301.38M |
| Common Stock | 16.00K | 15.00K | 8.00K | 339.02M | 719.00 | 719.00 |
| Additional Paid-In Capital | 1.76B | 1.64B | 1.08B | |||
| Retained Earnings | -1.37B | -1.11B | -698.30M | -18.33M | -12.94M | |
| Shareholders' Equity | 395.00M | 534.30M | 384.19M | 339.02M | -18.33M | -12.94M |
| Total Liabilities & Equity | 1.76B | 1.74B | 1.58B | 711.58M | 290.91M | 288.44M |
| Total Debt | 987.53M | 942.70M | 851.45M | 6.47M | 1.78M | 956.12K |
| Net Cash (Debt) | -965.93M | -845.01M | -551.06M | -6.47M | -1.68M | -633.35K |
| Net Cash Per Share | -7.51 | -8.61 | -8.22 | -0.36 | -0.05 | -0.02 |
| Filing Date Shares Outstanding | 191.87M | 147.24M | 89.41M | 60.17M | 15.62M | 35.94M |
| Total Common Shares Outstanding | 154.53M | 144.96M | 89.31M | 13.29M | 35.94M | 35.94M |
| Working Capital | -339.01M | -887.72M | 234.60M | -1.69M | -6.55M | -386.97K |
| Book Value Per Share | 2.56 | 3.69 | 4.30 | 25.51 | -0.51 | -0.36 |
| Tangible Book Value | 395.00M | 534.30M | 384.19M | 339.02M | -18.33M | -12.94M |
| Tangible Book Value Per Share | 2.56 | 3.69 | 4.30 | 25.51 | -0.51 | -0.36 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -433.79M | -410.16M | -629.07M | -93.67M | -2.59M | 4.27M |
| Depreciation & Amortization | 44.19M | 14.51M | 13.43M | 21.02M | ||
| Other Amortization | 8.83M | 542.00K | 1.01M | |||
| Stock-Based Compensation | 56.57M | 42.68M | 91.61M | |||
| Other Operating Activities | 101.36M | 87.70M | 71.26M | -4.32M | -5.96M | |
| Change in Inventory | -8.91M | -5.67M | 7.25M | 2.20M | ||
| Change in Accounts Payable | 79.59M | 3.77M | 46.05M | -4.43M | 4.35M | 275.50K |
| Change in Income Taxes | 330.15K | |||||
| Change in Other Net Operating Assets | -90.95M | -96.75M | 213.06M | 4.79M | 512.30K | -600.51K |
| Operating Cash Flow | -281.56M | -351.70M | -185.44M | -70.10M | -1.71M | -2.01M |
| Capital Expenditures | -277.20M | -417.62M | -72.30M | |||
| Cash Acquisitions | -203.94M | |||||
| Other Investing Activities | 786.92K | -287.50M | ||||
| Investing Cash Flow | -277.20M | -417.62M | -276.25M | 786.92K | -287.50M | |
| Short-Term Debt Issued | 705.00K | 1.20M | ||||
| Total Debt Issued | 705.00K | 1.20M | ||||
| Short-Term Debt Repaid | -1.13M | -75.17K | ||||
| Long-Term Debt Repaid | -18.75M | |||||
| Total Debt Repaid | -19.88M | -75.17K | ||||
| Net Debt Issued (Repaid) | -19.88M | 705.00K | 1.12M | |||
| Issuance of Common Stock | 344.96M | 545.00M | 796.24M | 70.10M | 281.75M | |
| Other Financing Activities | -47.38M | -13.76M | -32.23M | 6.95M | ||
| Financing Cash Flow | 297.59M | 531.24M | 744.13M | 70.10M | 705.00K | 289.82M |
| Net Cash Flow | -261.18M | -238.09M | 282.44M | -222.51K | 313.75K | |
| Free Cash Flow | -558.76M | -769.33M | -257.74M | -70.10M | -1.71M | -2.01M |
| Free Cash Flow Per Share | -4.35 | -7.84 | -3.85 | -3.88 | -0.05 | -0.06 |
| Levered Free Cash Flow | -493.65M | -667.51M | -98.72M | -41.85M | 1.27M | -1.24M |
| Unlevered Free Cash Flow | -425.00M | -612.90M | -57.66M | -41.85M | 1.27M | -1.24M |
| Cash Income Tax Paid | 426.92K | |||||
| Change in Working Capital | -58.71M | -86.97M | 266.31M | 2.56M | 5.19M | -325.01K |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 482.55M | 1.31B | 2.04B | 151.40M | 361.17M | 349.31M |
| Enterprise Value | 1.45B | 2.18B | 2.57B | 154.46M | 362.29M | 349.38M |
| Last Close Price | 2.75 | 9.02 | 22.90 | 11.39 | 10.05 | 9.72 |
| PE Ratio | 81.75 | |||||
| Forward PE | 3.14 | 7.53 | 21.04 | |||
| PB Ratio | 1.08 | 2.45 | 5.31 | 0.45 | -19.71 | -27.00 |
| P/TBV Ratio | 1.21 | 2.45 | 5.31 | 0.45 | ||
| Debt / Equity Ratio | 2.50 | 1.76 | 2.22 | 0.02 | -0.10 | -0.07 |
| Net Debt / Equity Ratio | 2.44 | 1.58 | 1.43 | 0.02 | -0.09 | -0.05 |
| Net Debt / EBITDA Ratio | -2.73 | -2.19 | -2.34 | -0.09 | ||
| Net Debt / FCF Ratio | -1.73 | -1.10 | -2.14 | -0.09 | -0.98 | -0.32 |
| Inventory Turnover | 13.69 | 10.42 | 6.04 | |||
| Quick Ratio | 0.16 | 0.10 | 2.49 | 0.01 | 0.26 | |
| Current Ratio | 0.24 | 0.13 | 2.94 | 0.91 | 0.03 | 0.69 |
| Return on Equity (ROE) | -103.21% | -89.31% | -173.97% | -58.42% | ||
| Return on Assets (ROA) | -14.02% | -15.02% | -13.48% | -11.68% | -1.33% | -0.73% |
| Return on Capital Employed (ROCE) | -30.10% | -55.70% | -16.90% | -13.50% | -2.20% | -0.60% |
| Earnings Yield | -134.17% | -31.37% | -30.83% | -61.87% | -0.72% | 1.22% |
| FCF Yield | -116.49% | -58.84% | -12.63% | -46.30% | -0.47% | -0.57% |
| Buyback Yield / Dilution | -58.99% | -46.50% | -271.12% | 49.75% | -13.71% | -1,023.74% |