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.

1.05 0.02 +1.94%
Market cap
$59.0M
P/E
0.0×
Fwd P/E
25.5×
Dividend yield
—
F-score
5/9
Altman Z
−0.51
Beneish M
−3.00
Dividend safety
n/a

Insider Decisions trades per month

Total buys 0.11
Total sells 22.65
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — 2 — —
Sell — — — — 5 — — — — 1 — —
Insider Ownership 0.00%

Capital & Financial Ratios $m

Market Cap 59.00
Revenue 163.06
Net Income (39.91)
Free Cash Flow 57.81
Net Debt 69.85
Current Ratio 2.19 (at or above 1.5: strong)
Debt/Equity 0.78
P/E ratio 0.00
Fwd P/E 25.50
P/S ratio 0.17
P/B ratio 0.00
Past 5Y EPS Growth —
This Y EPS Growth —
Next Y EPS Growth —
Next Y revenue growth (13.48%) (below 0%: weak)
Next 5Y EPS Growth —

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/S against its own 10 years 17.41%
10-year low 10-year high
EV/Sales against its own 10 years 0.82%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2020 Powerpack
2019 Powerpack
2018 Powerpack
2017 Powerpack
special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 58 20 28 88
Receivables 23 26 12 14
Inventory — — — —
Other 9 7 16 4
91 54 57 107
2023 2024 2025 Q'26
Payables 67 53 40 40
ST’ Debt 50 12 23 2
Other 17 12 1 7
134 78 64 49

Compound Annual Growth %

10y 5y 3y
Sales — 2.29% (22.67%)
Cash Flow — (4.88%) (20.84%)
Earnings — 0.00% 0.00%
Book Value — 0.00% 0.00%

Revenue $m

Mar Jun Sep Dec Year
’26 39 48 — — —
’25 47 43 43 32 166
’24 50 49 45 50 194
’23 65 54 54 47 221
’22 82 102 99 77 359
’21 56 64 81 85 285
’20 47 18 40 43 148
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 2 9 — — —
’25 13 10 28 (12) 39
’24 4 30 (5) 7 35
’23 (1) 9 2 7 18
’22 12 16 25 25 79
’21 13 16 18 21 69
’20 12 31 5 2 50
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 59 5 — — —
’25 (7) (23) 11 (17) (35)
’24 (21) 17 (12) (6) (22)
’23 (28) 5 (1) 1 (24)
’22 (4) (20) (10) (13) (47)
’21 1 (8) 8 16 17
’20 (36) (12) 2 22 (23)
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 (3.72) 0.34 — — —
’25 (0.35) (0.21) (0.91) (0.76) (2.24)
’24 (2.24) (0.53) 0.34 (1.88) (3.90)
’23 1.28 (0.35) (3.50) 1.63 (0.92)
’22 (5.69) 0.79 6.42 (0.47) 1.12
’21 (2.06) (2.09) 0.79 1.58 (1.74)
’20 7.07 (7.86) (9.45) (3.93) (14.18)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low — — — 2.00 2.25 7.03 7.42 4.51 1.31 1.00

Analyst estimates 2026–2028

Powerpack
High — — — 19.00 16.00 14.82 23.33 12.37 9.66 3.67
People
People Employees — — — 69 60 58 63 38 38 40
Revenue/emp, $m 0.00 0.00 0.00 3.26 2.47 4.92 5.70 5.81 5.10 4.15
Income, $m
Income, $m Revenue 418 376 227 225 148 285 359 221 194 166
Gross margin, % 24.21 37.61 52.99 46.83 24.55 57.96 61.74 42.23 40.25 36.86
EBT (471) 531 142 (1,262) (230) (28) 19 (3) (32) 12
EBT margin, % (112.70) 141.20 62.55 (561.81) (154.90) (9.93) 5.16 (1.38) (16.44) 7.15
Net income (504) 536 46 (1,167) (230) (28) 19 (3) (32) 12
Depreciation 167 110 79 113 62 46 57 64 59 54
Per share, $
Per share, $ Revenue 4.50 2.83 1.44 13.87 9.15 17.54 21.99 13.43 11.78 10.09
Earnings (5.51) 3.65 0.29 (71.99) (14.18) (1.74) 1.14 (0.92) (3.90) (2.24)
Cash flow 2.99 0.86 0.43 (1.61) 3.10 4.22 4.83 1.07 2.15 2.38
Capex 0.00 0.00 (4.50) (18.37) (4.50) (3.20) (7.73) (2.52) (3.50) (4.53)
Free cash flow 2.99 0.86 (4.07) (19.98) (1.40) 1.02 (2.91) (1.46) (1.36) (2.16)
Book value 1.22 8.07 0.00 19.54 5.55 3.92 5.18 4.14 0.25 (1.99)
Shares, m 93 133 157 16 16 16 16 16 16 16
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 0.00 0.00 0.00 8.55 0.00 0.00 0.00
P/S 7.45 7.45 7.45 9.55 0.91 0.56 0.44 0.72 0.15 0.11
P/B 7.62 7.62 7.62 6.76 1.50 2.50 1.85 2.33 6.87 0.00
EV/Sales 11.09 11.09 11.09 10.14 1.96 1.03 0.95 1.32 0.86 1.17
EV/FCF (834.21) (834.21) (834.21) (2.13) (12.81) 17.64 (7.19) (12.16) (7.45) (5.47)
Cash, $m
Cash, $m Operating cash flow 278 115 67 (26) 50 69 79 18 35 39
Capex (290) (1,429) (707) (298) (73) (52) (126) (42) (58) (75)
Free cash flow 278 115 (639) (324) (23) 17 (47) (24) (22) (35)
Balance, $m
Balance, $m Working capital (47) 322 (17) (35) (35) (34) (77) (44) (24) (6)
Total debt 965 409 613 145 160 182 218 190 158 203
Net debt 965 (15) 566 135 156 133 185 133 138 175
Shareholders’ equity 113 1,072 — 317 90 64 85 68 4 (33)
Returns, %
Returns, % ROA (34.60) 32.91 5.59 (104.68) (49.34) (7.69) 4.23 (3.11) (13.99) (8.26)
ROIC 0.00 0.00 10.17 (145.66) (66.56) 32.80 35.27 5.47 (5.17) (2.91)
ROE (86.54) 82.31 4.05 (154.13) (112.99) (36.86) 25.00 (19.78) (177.71) 256.88
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Battalion Oil Corporation vs peers in Oil & Gas E&P (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
EP Empire Petroleum Corporation $136.0M — (loss-making) — +8.58% (above 0%: growing) n/m −43.32% (below 0%: shrinking) 47.01% (16.22%) Compare
NRT North European Oil Royality Trust $77.5M 8.4× — +0.94% (above 0%: growing) +3.85% (above 0%: growing) −113.18% (below 0%: shrinking) 100.00% 100.00% Compare
CRT Cross Timbers Royalty Trust $77.2M 24.2× 13.0× −1.16% (below 0%: shrinking) −6.67% (below 0%: shrinking) — 44.21% 27.28% Compare
BSIN Big Sky Industrial Inc. $73.0M — (loss-making) — (loss-making) +5.23% (above 0%: growing) n/m −76.10% (below 0%: shrinking) 45.64% (111.76%) Compare
BATL Battalion Oil Corporation $59.0M — (loss-making) 25.5× +12.42% (above 0%: growing) n/m +119.80% (above 0%: growing) 47.93% 14.09%
PVL PERMIANVILLE ROYALTY TRUST $58.7M 7.3× 6.3× +31.88% (above 0%: growing) +200.00% (above 0%: growing) — 56.52% 20.33% Compare
VOC VOC Energy Trust $57.6M 8.3× 27.3× −31.56% (below 0%: shrinking) −23.08% (below 0%: shrinking) — 100.00% 94.96% Compare
PROP Prairie Operating Co. $40.5M — (loss-making) — (loss-making) +45.17% (above 0%: growing) +25.65% (above 0%: growing) −5,603.85% (below 0%: shrinking) 100.00% 45.88% Compare
INDO Indonesia Energy Corporation Limited $40.2M — (loss-making) 12.3× +20.70% (above 0%: growing) −328.57% (below 0%: shrinking) −67.13% (below 0%: shrinking) (20.82%) 0.00% Compare
Median of peers $65.9M 8.3× 12.7× +6.91% −1.41% −76.10% 51.77% 23.80%

All 73 Oil & Gas E&P stocks →

Battalion Oil Corporation (BATL) key facts

  • Concern: Battalion Oil Corporation’s revenue for fiscal 2025 (year ended December 2025) was $166.0 million, down 14.4% from fiscal 2024.
  • Battalion Oil Corporation (BATL) is an Oil & Gas E&P company in the Energy sector, listed on NYSE American.
  • As of October 16, 2026, BATL traded at $1.05, a market capitalization of $59.0 million.
  • Return on equity was 256.9% and debt-to-equity 0.78.
  • Its Piotroski F-score is 5 out of 9 and its Altman Z-score is −0.51 (distress zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Battalion Oil Corporation (BATL) Latest News

23 Apr

stockrow.com/BATL · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com