NYSEAMERICAN : BATL
Battalion Oil Corporation — Financial statements
Energy · Oil & Gas Exploration & Production · United States
Last price 0.906 USD (Oct 30, 2026, 9:41 AM EDT) · Market cap 51.90M
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Financial statements
Battalion Oil Corporation (BATL) reported revenue of 163.06M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 162.04M | 164.96M | 193.22M | 218.50M | 357.40M | 284.15M |
| Other Revenue | 1.02M | 1.08M | 677.00K | 2.26M | 1.66M | 1.05M |
| Revenue | 163.06M | 166.04M | 193.89M | 220.76M | 359.06M | 285.20M |
| Cost of Revenue | 91.71M | 95.00M | 104.61M | 115.59M | 118.89M | 107.60M |
| Gross Profit | 71.35M | 71.04M | 89.29M | 105.17M | 240.17M | 177.61M |
| Selling, General & Admin | 15.97M | 14.62M | 18.36M | 19.02M | 17.64M | 16.51M |
| Other Operating Expenses | 20.32M | -35.42M | 8.93M | -746.00K | 128.49M | 137.93M |
| Operating Expenses | 86.00M | 31.34M | 80.21M | 74.90M | 198.04M | 199.85M |
| Operating Income | -14.66M | 39.70M | 9.07M | 30.27M | 42.13M | -22.25M |
| Interest Expense | -25.27M | -28.84M | -29.01M | -36.51M | -23.59M | -8.02M |
| Interest & Investment Income | 1.85M | 2.26M | 2.12M | 1.24M | ||
| Other Non Operating Income (Expenses) | 98.00K | -172.00K | 1.93M | 1.95M | ||
| EBT Excluding Unusual Items | -37.98M | 12.95M | -15.88M | -3.05M | 18.54M | -30.26M |
| Merger & Restructuring Charges | 10.00M | |||||
| Asset Writedown | -1.07M | -1.07M | -18.51M | |||
| Other Unusual Items | -862.00K | -7.49M | 1.95M | |||
| Pretax Income | -39.91M | 11.88M | -31.88M | -3.05M | 18.54M | -28.32M |
| Net Income | -39.91M | 11.88M | -31.88M | -3.05M | 18.54M | -28.32M |
| Preferred Dividends & Other Adjustments | 36.95M | 48.71M | 32.22M | 12.05M | ||
| Net Income to Common | -76.86M | -36.83M | -64.10M | -15.10M | 18.54M | -28.32M |
| Shares Outstanding (Basic) | 19.20M | 16.46M | 16.46M | 16.44M | 16.33M | 16.26M |
| Shares Outstanding (Diluted) | 19.20M | 16.46M | 16.46M | 16.44M | 16.51M | 16.26M |
| EPS (Basic) | -4.00 | -2.24 | -3.90 | -0.92 | 1.14 | -1.74 |
| EPS (Diluted) | -4.01 | -2.24 | -3.90 | -0.92 | 1.12 | -1.74 |
| Free Cash Flow | -2.25M | -35.48M | -29.34M | -28.85M | -47.82M | 15.64M |
| Free Cash Flow Per Share | -0.12 | -2.16 | -1.78 | -1.75 | -2.90 | 0.96 |
| Gross Margin | 43.76% | 42.79% | 46.05% | 47.64% | 66.89% | 62.27% |
| Operating Margin | -8.99% | 23.91% | 4.68% | 13.71% | 11.73% | -7.80% |
| Profit Margin | -47.13% | -22.18% | -33.06% | -6.84% | 5.16% | -9.93% |
| Free Cash Flow Margin | -1.38% | -21.37% | -15.13% | -13.07% | -13.32% | 5.49% |
| EBITDA | 35.05M | 91.84M | 62.00M | 86.89M | 94.05M | 23.16M |
| EBITDA Margin | 21.50% | 55.31% | 31.98% | 39.36% | 26.19% | 8.12% |
| D&A For EBITDA | 49.71M | 52.14M | 52.93M | 56.62M | 51.91M | 45.41M |
| EBIT | -14.66M | 39.70M | 9.07M | 30.27M | 42.13M | -22.25M |
| EBIT Margin | -8.99% | 23.91% | 4.68% | 13.71% | 11.73% | -7.80% |
| Revenue as Reported | 163.06M | 166.04M | 193.89M | 220.76M | 359.06M | 285.20M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 83.10M | 27.96M | 19.71M | 57.53M | 32.73M | 46.86M |
| Cash & Short-Term Investments | 83.10M | 27.96M | 19.71M | 57.53M | 32.73M | 46.86M |
| Accounts Receivable | 8.55M | 9.85M | 25.66M | 21.94M | 37.18M | 36.61M |
| Other Receivables | 5.86M | 2.22M | 642.00K | 1.08M | 793.00K | 193.00K |
| Receivables | 14.41M | 12.07M | 26.30M | 23.02M | 37.97M | 36.81M |
| Prepaid Expenses | 363.00K | 621.00K | 572.00K | 490.00K | 715.00K | 975.00K |
| Restricted Cash | 5.29M | 91.00K | 91.00K | 90.00K | 90.00K | 1.50M |
| Other Current Assets | 4.33M | 16.42M | 7.38M | 9.41M | 16.66M | 1.77M |
| Total Current Assets | 107.49M | 57.16M | 54.05M | 90.54M | 88.17M | 87.91M |
| Property, Plant & Equipment | 317.84M | 392.80M | 370.67M | 372.27M | 388.99M | 297.57M |
| Long-Term Investments | 940.00K | 1.28M | 1.56M | |||
| Long-Term Accounts Receivable | 15.06M | 1.01M | ||||
| Other Long-Term Assets | 7.25M | 10.71M | 5.39M | 6.19M | 6.64M | 3.77M |
| Total Assets | 432.58M | 460.68M | 431.05M | 485.34M | 485.36M | 390.27M |
| Accounts Payable | 12.86M | 12.63M | 15.66M | 24.91M | 42.92M | 25.32M |
| Accrued Expenses | 7.69M | 8.45M | 9.40M | 7.29M | 10.46M | 9.87M |
| Current Portion of Long-Term Debt | 2.03M | 22.51M | 12.25M | 50.11M | 35.07M | 85.00K |
| Current Portion of Leases | 484.00K | 764.00K | 406.00K | 594.00K | 352.00K | 369.00K |
| Other Current Liabilities | 26.01M | 19.29M | 39.95M | 51.52M | 76.22M | 85.97M |
| Total Current Liabilities | 49.08M | 63.64M | 77.66M | 134.42M | 165.03M | 121.60M |
| Long-Term Debt | 156.21M | 180.96M | 145.53M | 140.28M | 182.68M | 181.56M |
| Long-Term Leases | 216.00K | 104.00K | 84.00K | 490.00K | 352.00K | |
| Other Long-Term Liabilities | 23.94M | 22.53M | 26.11M | 35.60M | 53.03M | 23.04M |
| Total Liabilities | 229.45M | 267.23M | 249.39M | 310.78M | 400.73M | 326.56M |
| Common Stock | 4.00K | 2.00K | 2.00K | 2.00K | 2.00K | 2.00K |
| Additional Paid-In Capital | 295.91M | 240.20M | 288.99M | 321.01M | 334.57M | 332.19M |
| Retained Earnings | -313.96M | -273.00M | -284.88M | -252.99M | -249.94M | -268.48M |
| Total Common Equity | -18.05M | -32.79M | 4.12M | 68.02M | 84.63M | 63.70M |
| Shareholders' Equity | 203.14M | 193.45M | 181.66M | 174.56M | 84.63M | 63.70M |
| Total Liabilities & Equity | 432.58M | 460.68M | 431.05M | 485.34M | 485.36M | 390.27M |
| Total Debt | 158.94M | 204.33M | 158.27M | 191.47M | 218.09M | 182.37M |
| Net Cash (Debt) | -75.84M | -176.37M | -138.56M | -133.94M | -185.37M | -135.51M |
| Net Cash Per Share | -3.95 | -10.72 | -8.42 | -8.15 | -11.23 | -8.33 |
| Filing Date Shares Outstanding | 57.28M | 18.26M | 16.46M | 16.46M | 16.45M | 16.34M |
| Total Common Shares Outstanding | 38.89M | 16.46M | 16.46M | 16.46M | 16.34M | 16.27M |
| Working Capital | 58.41M | -6.48M | -23.61M | -43.88M | -76.86M | -33.69M |
| Book Value Per Share | -0.46 | -1.99 | 0.25 | 4.13 | 5.18 | 3.91 |
| Tangible Book Value | -18.05M | -32.79M | 4.12M | 68.02M | 84.63M | 63.70M |
| Tangible Book Value Per Share | -0.46 | -1.99 | 0.25 | 4.13 | 5.18 | 3.91 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -39.91M | 11.88M | -31.88M | -3.05M | 18.54M | -28.32M |
| Depreciation & Amortization | 49.71M | 52.14M | 52.93M | 56.62M | 51.91M | 45.41M |
| Other Amortization | 1.39M | 1.57M | 6.42M | 7.62M | 5.45M | 379.00K |
| Asset Writedown & Restructuring Costs | 1.07M | 1.07M | 18.51M | -744.00K | ||
| Stock-Based Compensation | 421.00K | -109.00K | 152.00K | -1.07M | 2.21M | 2.01M |
| Other Operating Activities | 17.93M | -30.91M | -4.98M | -23.37M | -17.85M | 52.24M |
| Change in Accounts Receivable | 7.90M | 14.46M | -2.77M | 15.66M | 594.00K | -4.65M |
| Change in Accounts Payable | -11.59M | -11.11M | -2.95M | -35.02M | 18.45M | 865.00K |
| Change in Other Net Operating Assets | 109.00K | 91.00K | -75.00K | 202.00K | 234.00K | 636.00K |
| Operating Cash Flow | 27.04M | 39.09M | 35.35M | 17.59M | 78.80M | 68.57M |
| Capital Expenditures | -29.29M | -74.57M | -64.69M | -46.44M | -126.62M | -52.93M |
| Sale of Property, Plant & Equipment | 60.05M | 7.01M | 4.93M | 332.00K | 947.00K | |
| Other Investing Activities | -24.00K | -380.00K | -7.76M | -10.33M | 163.00K | 68.00K |
| Investing Cash Flow | 30.75M | -74.95M | -65.44M | -51.84M | -126.13M | -51.91M |
| Long-Term Debt Issued | 63.00M | 162.00M | 35.20M | 374.00M | ||
| Long-Term Debt Repaid | -16.97M | -200.11M | -35.09M | -95.00K | -332.08M | |
| Net Debt Issued (Repaid) | -56.93M | 46.03M | -38.11M | -35.09M | 35.10M | 41.91M |
| Issuance of Common Stock | 43.93M | |||||
| Other Financing Activities | -1.10M | -1.92M | -8.40M | -455.00K | -3.32M | -14.51M |
| Financing Cash Flow | -14.10M | 44.11M | -7.73M | 59.06M | 31.79M | 27.41M |
| Net Cash Flow | 43.68M | 8.25M | -37.82M | 24.80M | -15.54M | 44.06M |
| Free Cash Flow | -2.25M | -35.48M | -29.34M | -28.85M | -47.82M | 15.64M |
| Free Cash Flow Margin | -1.38% | -21.37% | -15.13% | -13.07% | -13.32% | 5.49% |
| Free Cash Flow Per Share | -0.12 | -2.16 | -1.78 | -1.75 | -2.90 | 0.96 |
| Levered Free Cash Flow | -8.47M | -33.68M | -37.69M | -10.63M | -61.40M | 18.54M |
| Unlevered Free Cash Flow | 5.93M | -17.23M | -25.98M | 4.57M | -52.10M | 23.17M |
| Cash Interest Paid | 23.61M | 27.23M | 22.32M | 28.71M | 19.93M | |
| Change in Working Capital | -3.58M | 3.44M | -5.79M | -19.16M | 19.28M | -3.15M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 47.20M | 18.60M | 28.31M | 158.15M | 158.71M | 159.48M |
| Enterprise Value | 123.04M | 389.84M | 310.75M | 381.86M | 330.07M | 313.58M |
| Last Close Price | 0.96 | 1.13 | 1.72 | 9.61 | 9.71 | 9.80 |
| PE Ratio | 8.56 | |||||
| Forward PE | 5.08 | 5.08 | 5.08 | 2.42 | ||
| PS Ratio | 0.34 | 0.11 | 0.15 | 0.72 | 0.44 | 0.56 |
| PB Ratio | 0.27 | 0.10 | 0.16 | 0.91 | 1.88 | 2.50 |
| P/TBV Ratio | 6.87 | 2.33 | 1.88 | 2.50 | ||
| P/FCF Ratio | 10.20 | |||||
| P/OCF Ratio | 2.03 | 0.48 | 0.80 | 8.99 | 2.01 | 2.33 |
| EV/Sales Ratio | 0.80 | 2.35 | 1.60 | 1.73 | 0.92 | 1.10 |
| EV/EBITDA Ratio | 3.73 | 4.25 | 5.01 | 4.39 | 3.51 | 13.54 |
| EV/EBIT Ratio | 9.82 | 34.25 | 12.62 | 7.83 | ||
| EV/FCF Ratio | 20.05 | |||||
| Debt / Equity Ratio | 0.78 | 1.06 | 0.87 | 1.10 | 2.58 | 2.86 |
| Debt / EBITDA Ratio | 4.00 | 2.11 | 2.36 | 2.13 | 2.13 | 6.72 |
| Debt / FCF Ratio | 11.66 | |||||
| Net Debt / Equity Ratio | 0.37 | 0.91 | 0.76 | 0.77 | 2.19 | 2.13 |
| Net Debt / EBITDA Ratio | 2.16 | 1.92 | 2.23 | 1.54 | 1.97 | 5.85 |
| Net Debt / FCF Ratio | -33.74 | -4.97 | -4.72 | -4.64 | -3.88 | 8.66 |
| Asset Turnover | 0.35 | 0.37 | 0.42 | 0.46 | 0.82 | 0.77 |
| Quick Ratio | 1.99 | 0.63 | 0.59 | 0.60 | 0.43 | 0.69 |
| Current Ratio | 2.19 | 0.90 | 0.70 | 0.67 | 0.53 | 0.72 |
| Return on Equity (ROE) | -20.18% | 6.33% | -17.90% | -2.35% | 25.00% | -36.86% |
| Return on Assets (ROA) | -1.97% | 5.56% | 1.24% | 3.90% | 6.01% | -3.77% |
| Return on Invested Capital (ROIC) | -5.34% | 11.51% | 2.89% | 10.47% | 17.96% | -9.99% |
| Return on Capital Employed (ROCE) | -3.80% | 10.00% | 2.60% | 8.60% | 13.20% | -8.30% |
| Earnings Yield | -486.83% | 63.88% | -112.64% | -1.93% | 11.68% | -17.76% |
| FCF Yield | -4.09% | -190.80% | -103.66% | -18.24% | -30.13% | 9.81% |
| Buyback Yield / Dilution | -16.68% | -0.10% | 0.42% | -1.53% | -0.35% |