NYSEAMERICAN : EP
Empire Petroleum Corporation — Financial statements
Energy · Oil & Gas Exploration & Production · United States
Last price 2.64 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 109.83M
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Financial statements
Empire Petroleum Corporation (EP) reported revenue of 35.26M 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 | 35.21M | 34.16M | 43.99M | 40.07M | 53.17M | 27.50M |
| Other Revenue | 44.00K | 41.00K | 47.00K | 70.48K | 102.43K | 174.61K |
| Revenue | 35.26M | 34.20M | 44.04M | 40.14M | 53.27M | 27.68M |
| Cost of Revenue | 26.09M | 28.08M | 31.32M | 31.67M | 27.53M | 15.39M |
| Gross Profit | 9.17M | 6.13M | 12.72M | 8.47M | 25.75M | 12.29M |
| Selling, General & Admin | 12.45M | 13.42M | 14.74M | 15.18M | 12.33M | 8.46M |
| Other Operating Expenses | 6.36M | 2.14M | 2.40M | 1.82M | 1.75M | 1.80M |
| Operating Expenses | 78.75M | 77.44M | 26.39M | 20.10M | 16.96M | 12.76M |
| Operating Income | -69.58M | -71.31M | -13.67M | -11.63M | 8.78M | -473.37K |
| Interest Expense | -1.73M | -1.55M | -1.51M | -1.00M | -509.54K | -8.60M |
| Other Non Operating Income (Expenses) | 467.00K | 588.00K | -1.02M | 23.72K | -981.60K | -4.36M |
| EBT Excluding Unusual Items | -70.84M | -72.27M | -16.20M | -12.60M | 7.29M | -13.44M |
| Gain (Loss) on Sale of Assets | 200.00K | 200.00K | ||||
| Other Unusual Items | -659.00K | -5.18M | ||||
| Pretax Income | -71.30M | -72.07M | -16.20M | -12.60M | 7.29M | -18.61M |
| Income Tax Expense | -132.19K | 208.90K | ||||
| Net Income | -71.30M | -72.07M | -16.20M | -12.47M | 7.08M | -18.61M |
| Net Income to Common | -71.30M | -72.07M | -16.20M | -12.47M | 7.08M | -18.61M |
| Shares Outstanding (Basic) | 36.46M | 34.06M | 30.06M | 22.72M | 21.00M | 14.63M |
| Shares Outstanding (Diluted) | 36.46M | 34.06M | 30.06M | 22.72M | 23.39M | 14.63M |
| EPS (Basic) | -1.96 | -2.12 | -0.54 | -0.55 | 0.34 | -1.27 |
| EPS (Diluted) | -1.96 | -2.12 | -0.54 | -0.55 | 0.30 | -1.27 |
| Free Cash Flow | -11.40M | -8.75M | -47.21M | -26.88M | 4.88M | -16.60M |
| Free Cash Flow Per Share | -0.31 | -0.26 | -1.57 | -1.18 | 0.21 | -1.13 |
| Gross Margin | 26.01% | 17.91% | 28.89% | 21.11% | 48.33% | 44.41% |
| Operating Margin | -197.34% | -208.50% | -31.03% | -28.96% | 16.49% | -1.71% |
| Profit Margin | -202.21% | -210.72% | -36.78% | -31.06% | 13.30% | -67.25% |
| Free Cash Flow Margin | -32.34% | -25.59% | -107.21% | -66.97% | 9.16% | -59.96% |
| EBITDA | -7.48M | -7.29M | -2.40M | -6.77M | 13.03M | 3.24M |
| EBITDA Margin | -21.21% | -21.32% | -5.46% | -16.87% | 24.45% | 11.72% |
| D&A For EBITDA | 62.10M | 64.02M | 11.26M | 4.85M | 4.24M | 3.72M |
| EBIT | -69.58M | -71.31M | -13.67M | -11.63M | 8.78M | -473.37K |
| EBIT Margin | -197.34% | -208.50% | -31.03% | -28.96% | 16.49% | -1.71% |
| Effective Tax Rate | 2.86% | |||||
| Revenue as Reported | 31.05M | 34.20M | 43.65M | 40.08M | 52.89M | 27.09M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 3.12M | 1.19M | 2.25M | 7.79M | 11.94M | 3.61M |
| Cash & Short-Term Investments | 3.12M | 1.19M | 2.25M | 7.79M | 11.94M | 3.61M |
| Receivables | 6.65M | 5.12M | 8.15M | 8.35M | 7.78M | 7.73M |
| Inventory | 1.39M | 1.26M | 1.30M | 1.43M | 1.84M | 1.04M |
| Prepaid Expenses | 788.00K | 607.00K | 640.00K | 757.50K | 1.05M | 679.12K |
| Other Current Assets | 38.00K | 406.81K | 121.58K | 55.24K | ||
| Total Current Assets | 11.99M | 8.18M | 12.35M | 18.74M | 22.73M | 13.12M |
| Property, Plant & Equipment | 68.08M | 56.30M | 110.09M | 72.40M | 45.31M | 30.68M |
| Other Long-Term Assets | 1.01M | 1.39M | 1.43M | 1.47M | 3.50M | 6.29M |
| Total Assets | 81.08M | 65.87M | 123.87M | 92.62M | 71.55M | 50.09M |
| Accounts Payable | 12.77M | 10.80M | 10.45M | 16.44M | 5.84M | 4.33M |
| Accrued Expenses | 2.36M | 3.00M | 2.60M | 2.33M | 9.46M | 5.84M |
| Current Portion of Long-Term Debt | 1.63M | 641.00K | 70.00K | 1.10M | 2.06M | 1.70M |
| Current Portion of Leases | 562.00K | 286.00K | 400.00K | 432.82K | 256.98K | 180.10K |
| Other Current Liabilities | 11.02M | 9.61M | 7.75M | 4.75M | ||
| Total Current Liabilities | 28.34M | 24.34M | 21.27M | 25.05M | 17.62M | 12.05M |
| Long-Term Debt | 13.51M | 15.44M | 11.27M | 4.60M | 5.14M | 6.91M |
| Long-Term Leases | 339.00K | 12.00K | 144.00K | 544.38K | 547.69K | 646.31K |
| Other Long-Term Liabilities | 31.58M | 30.69M | 28.42M | 27.47M | 25.00M | 20.64M |
| Total Liabilities | 73.76M | 70.48M | 61.10M | 57.66M | 48.31M | 40.26M |
| Common Stock | 101.00K | 94.00K | 93.00K | 85.03K | 81.61K | 79.36K |
| Additional Paid-In Capital | 168.61M | 148.19M | 143.49M | 99.49M | 75.30M | 68.99M |
| Retained Earnings | -161.39M | -152.89M | -80.82M | -64.62M | -52.15M | -59.23M |
| Shareholders' Equity | 7.32M | -4.61M | 62.77M | 34.96M | 23.24M | 9.83M |
| Total Liabilities & Equity | 81.08M | 65.87M | 123.87M | 92.62M | 71.55M | 50.09M |
| Total Debt | 16.04M | 16.38M | 11.88M | 6.68M | 8.00M | 9.44M |
| Net Cash (Debt) | -12.91M | -15.19M | -9.63M | 1.11M | 3.94M | -5.83M |
| Net Cash Per Share | -0.35 | -0.45 | -0.32 | 0.05 | 0.17 | -0.40 |
| Filing Date Shares Outstanding | 41.58M | 35.43M | 33.70M | 25.62M | 22.44M | 19.86M |
| Total Common Shares Outstanding | 41.56M | 34.86M | 33.67M | 25.50M | 22.09M | 19.84M |
| Working Capital | -16.35M | -16.16M | -8.92M | -6.30M | 5.11M | 1.06M |
| Book Value Per Share | 0.18 | -0.13 | 1.86 | 1.37 | 1.05 | 0.50 |
| Tangible Book Value | 7.32M | -4.61M | 62.77M | 34.96M | 23.24M | 9.83M |
| Tangible Book Value Per Share | 0.18 | -0.13 | 1.86 | 1.37 | 1.05 | 0.50 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -71.30M | -72.07M | -16.20M | -12.47M | 7.08M | -18.61M |
| Depreciation & Amortization | 62.66M | 64.49M | 11.80M | 5.28M | 4.51M | 3.85M |
| Other Amortization | 257.00K | 142.00K | 500.00K | 7.74M | ||
| Loss (Gain) From Sale of Assets | -3.00K | -198.00K | ||||
| Stock-Based Compensation | 803.00K | 1.42M | 2.16M | 3.14M | 2.72M | 1.50M |
| Other Operating Activities | -38.00K | -581.00K | 1.42M | -288.00K | 2.98M | 10.97M |
| Change in Accounts Receivable | 888.00K | 369.00K | -357.00K | -2.70M | -1.81M | -6.48M |
| Change in Inventory | -83.00K | 43.00K | 129.00K | -160.83K | -802.39K | -506.57K |
| Change in Accounts Payable | -641.00K | 541.00K | 5.02M | 751.36K | 526.68K | 2.21M |
| Change in Other Net Operating Assets | 1.31M | 1.90M | 1.69M | -3.44M | 2.86M | 2.50M |
| Operating Cash Flow | -6.14M | -3.95M | 6.16M | -9.89M | 18.06M | 3.17M |
| Capital Expenditures | -5.26M | -4.81M | -53.37M | -16.99M | -13.18M | -19.77M |
| Sale of Property, Plant & Equipment | 402.00K | 626.00K | ||||
| Other Investing Activities | -524.00K | -431.00K | -499.00K | 2.23M | 1.76M | -4.95M |
| Investing Cash Flow | -5.38M | -4.61M | -53.87M | -14.77M | -11.41M | -24.72M |
| Long-Term Debt Issued | 7.00M | 11.65M | 14.49M | 19.60M | ||
| Long-Term Debt Repaid | -2.64M | -592.00K | -6.45M | -1.70M | -5.89M | |
| Net Debt Issued (Repaid) | -727.00K | 4.36M | 11.06M | 8.04M | -1.70M | 13.71M |
| Issuance of Common Stock | 13.08M | 3.14M | 31.11M | 12.46M | 3.39M | 11.29M |
| Financing Cash Flow | 12.36M | 7.50M | 42.17M | 20.50M | 1.69M | 25.00M |
| Net Cash Flow | 831.00K | -1.06M | -5.54M | -4.15M | 8.33M | 3.45M |
| Free Cash Flow | -11.40M | -8.75M | -47.21M | -26.88M | 4.88M | -16.60M |
| Free Cash Flow Margin | -32.34% | -25.59% | -107.21% | -66.97% | 9.16% | -59.96% |
| Free Cash Flow Per Share | -0.31 | -0.26 | -1.57 | -1.18 | 0.21 | -1.13 |
| Levered Free Cash Flow | 20.07M | 21.43M | -50.26M | -8.42M | 3.07M | -14.29M |
| Unlevered Free Cash Flow | 20.89M | 22.26M | -49.81M | -7.79M | 3.39M | -16.66M |
| Cash Interest Paid | 1.43M | 1.32M | 894.00K | 650.64K | 473.20K | 436.05K |
| Change in Working Capital | 1.47M | 2.85M | 6.48M | -5.55M | 772.28K | -2.28M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 92.77M | 105.96M | 255.60M | 265.22M | 271.78M | 238.20M |
| Enterprise Value | 105.69M | 117.71M | 261.81M | 270.99M | 264.75M | 246.59M |
| Last Close Price | 2.23 | 3.04 | 7.60 | 10.99 | 12.30 | 12.07 |
| PE Ratio | 38.37 | |||||
| PS Ratio | 2.63 | 3.10 | 5.80 | 6.61 | 5.10 | 8.61 |
| PB Ratio | 12.67 | -23.00 | 4.07 | 7.59 | 11.70 | 24.22 |
| P/TBV Ratio | 12.68 | 4.07 | 7.59 | 11.70 | 24.22 | |
| P/FCF Ratio | 55.69 | |||||
| P/OCF Ratio | 41.51 | 15.05 | 75.14 | |||
| EV/Sales Ratio | 3.00 | 3.44 | 5.95 | 6.75 | 4.97 | 8.91 |
| EV/EBITDA Ratio | 20.32 | 76.03 | ||||
| EV/EBIT Ratio | 30.14 | |||||
| EV/FCF Ratio | 54.25 | |||||
| Debt / Equity Ratio | 2.19 | -3.56 | 0.19 | 0.19 | 0.34 | 0.96 |
| Debt / EBITDA Ratio | 0.60 | 2.75 | ||||
| Debt / FCF Ratio | 1.64 | |||||
| Net Debt / Equity Ratio | 1.76 | -3.30 | 0.15 | -0.03 | -0.17 | 0.59 |
| Net Debt / EBITDA Ratio | -1.73 | -2.08 | -4.01 | 0.17 | -0.30 | 1.80 |
| Net Debt / FCF Ratio | -1.13 | -1.74 | -0.20 | 0.04 | -0.81 | -0.35 |
| Asset Turnover | 0.34 | 0.36 | 0.41 | 0.49 | 0.88 | 0.90 |
| Inventory Turnover | 19.39 | 21.88 | 22.87 | 19.35 | 19.13 | 19.61 |
| Quick Ratio | 0.34 | 0.26 | 0.49 | 0.65 | 1.12 | 0.94 |
| Current Ratio | 0.42 | 0.34 | 0.58 | 0.75 | 1.29 | 1.09 |
| Return on Equity (ROE) | -230.66% | -247.85% | -33.15% | -42.86% | 42.84% | |
| Return on Assets (ROA) | -42.27% | -46.98% | -7.89% | -8.85% | 9.03% | -0.97% |
| Return on Invested Capital (ROIC) | -457.77% | -125.20% | -25.73% | -43.76% | 48.81% | -4.54% |
| Return on Capital Employed (ROCE) | -131.90% | -171.70% | -13.30% | -17.20% | 16.30% | -1.20% |
| Earnings Yield | -88.01% | -68.02% | -6.34% | -4.70% | 2.61% | -7.81% |
| FCF Yield | -12.29% | -8.26% | -18.47% | -10.13% | 1.80% | -6.97% |
| Buyback Yield / Dilution | -10.14% | -13.28% | -32.33% | 2.86% | -59.86% | -157.71% |