HighPeak Energy, Inc.
HPK Energy Oil & Gas E&P
HighPeak Energy, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $863.4 million, down 22.7% from fiscal 2024. In the quarter to June 2026, revenue grew 25.8%, EPS grew 215.8%, free cash flow grew 41.0% and total debt rose 15.7%, each against the same quarter a year earlier. Dividend growth for five consecutive years.
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HighPeak Energy, Inc. (HPK) Piotroski F-score
HighPeak Energy, Inc.'s Piotroski F-score for fiscal 2025 is 5 out of 9: 5 of nine tests of profitability, leverage and efficiency passed, unchanged from fiscal 2024.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2025 | 5 | 0.00 |
| FY2024 | 5 | 0.00 |
| FY2023 | 5 | (1.00) |
| FY2022 | 6 | 0.00 |
| FY2021 | 6 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | 0.60% | 3.09% | Pass | 1 |
| Positive operating cash flow | 511.60m | 690.39m | Pass | 1 |
| Rising return on assets | 0.60% | 3.09% | Fail | 0 |
| Cash flow above net income | 492.63m | 595.32m | Pass | 1 |
| Falling long-term leverage | 0.36 | 0.30 | Fail | 0 |
| Rising current ratio | 1.13 | 0.69 | Pass | 1 |
| No new shares issued | 125,265,000 | 125,281,000 | Pass | 1 |
| Rising gross margin | 79.53% | 82.82% | Fail | 0 |
| Rising asset turnover | 0.28 | 0.36 | 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 |
|---|---|
| REPX Riley Exploration Permian, Inc. compare | 7 |
| VET Vermilion Energy Inc. compare | 5 |
| GFR Greenfire Resources Ltd. compare | 5 |
| HPK HighPeak Energy, Inc. | 5 |
| DMLP Dorchester Minerals, L.P. compare | 4 |
| MNR Mach Natural Resources LP compare | 4 |
| KOS Kosmos Energy Ltd. compare | 2 |
| TBN Tamboran Resources Corporation compare | — |
| INR Infinity Natural Resources Inc. 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