Kosmos Energy Ltd.
KOS Energy Oil & Gas E&P
Kosmos Energy Ltd.’s revenue for fiscal 2025 (year ended December 2025) was $1.3 billion, down 22.9% from fiscal 2024. In the quarter to June 2026, revenue grew 56.8%, EPS grew 272.2%, free cash flow grew 405.3% and total debt fell 6.26%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
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Kosmos Energy Ltd. (KOS) Altman Z-score
Kosmos Energy Ltd.'s Altman Z-score for fiscal 2025 is −0.42, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | −0.42 | (0.95) |
| FY2024 | 0.52 | (0.39) |
| FY2023 | 0.91 | (0.40) |
| FY2022 | 1.31 | 1.08 |
| FY2021 | 0.23 | 0.52 |
| FY2020 | −0.30 | (0.86) |
| FY2019 | 0.57 | 0.44 |
| FY2018 | 0.12 | (0.31) |
| FY2017 | 0.43 | 0.10 |
| FY2016 | 0.34 | (0.22) |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (0.03) | — | −0.04 | |
| Retained earnings / total assets | (0.38) | — | −0.53 | |
| EBIT / total assets | (0.06) | — | −0.19 | |
| Market value of equity / total liabilities | 0.10 | — | 0.06 | |
| Sales / total assets | 0.28 | — | 0.28 | |
| Altman Z-score | Distress zone | −0.42 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −1.70 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| GFR Greenfire Resources Ltd. compare | 4.0× |
| BKV BKV Corporation compare | 1.5× |
| HPK HighPeak Energy, Inc. compare | 0.8× |
| VET Vermilion Energy Inc. compare | 0.3× |
| KOS Kosmos Energy Ltd. | −0.4× |
| MNR Mach Natural Resources LP compare | — |
| TBN Tamboran Resources Corporation compare | — |
| KRP Kimbell Royalty compare | — |
| DMLP Dorchester Minerals, L.P. compare | — |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets