Battalion Oil Corporation
BATL Energy Oil & Gas E&P
Battalion Oil Corporation’s revenue for fiscal 2025 (year ended December 2025) was $166.0 million, down 14.4% from fiscal 2024. In the quarter to June 2026, revenue grew 12.4%, EPS grew 261.9%, free cash flow grew 119.8% and total debt fell 26.1%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
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Battalion Oil Corporation (BATL) Piotroski F-score
Battalion Oil Corporation's Piotroski F-score for fiscal 2025 is 5 out of 9: 5 of nine tests of profitability, leverage and efficiency passed, up from 3 in fiscal 2024.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2025 | 5 | 2.00 |
| FY2024 | 3 | (1.00) |
| FY2023 | 4 | (3.00) |
| FY2022 | 7 | 1.00 |
| FY2021 | 6 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (8.26%) | (13.99%) | Fail | 0 |
| Positive operating cash flow | 39.09m | 35.36m | Pass | 1 |
| Rising return on assets | (8.26%) | (13.99%) | Pass | 1 |
| Cash flow above net income | 75.92m | 99.46m | Pass | 1 |
| Falling long-term leverage | 0.41 | 0.32 | Fail | 0 |
| Rising current ratio | 0.90 | 0.70 | Pass | 1 |
| No new shares issued | 16,457,000 | 16,457,000 | Pass | 1 |
| Rising gross margin | 36.86% | 40.25% | Fail | 0 |
| Rising asset turnover | 0.37 | 0.42 | Fail | 0 |
| Piotroski F-score | Mixed | 5 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| BATL Battalion Oil Corporation | 5 |
| PROP Prairie Operating Co. compare | 5 |
| INDO Indonesia Energy Corporation Limited compare | 3 |
| BSIN Big Sky Industrial Inc. compare | 2 |
| EP Empire Petroleum Corporation compare | 1 |
| NRT North European Oil Royality Trust compare | — |
| CRT Cross Timbers Royalty Trust compare | — |
| VOC VOC Energy Trust compare | — |
| PVL PERMIANVILLE ROYALTY TRUST compare | — |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover