Permian Resources Corporation
Permian Resources Corporation’s revenue for fiscal 2025 (year ended December 2025) was $5.1 billion, up 1.29% from fiscal 2024. In the quarter to June 2026, revenue grew 55.2%, EPS grew 216.7%, free cash flow grew 872.2% and total debt fell 25.1%, each against the same quarter a year earlier. Revenue growth for five consecutive years, operating cash flow growth for five.
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Permian Resources Corporation (PR) Altman Z-score
Permian Resources Corporation's Altman Z-score for fiscal 2025 is 1.59, 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 | 1.59 | 0.02 |
| FY2024 | 1.58 | 0.63 |
| FY2023 | 0.95 | (0.28) |
| FY2022 | 1.23 | (0.20) |
| FY2021 | 1.43 | 1.91 |
| FY2020 | −0.48 | (1.31) |
| FY2019 | 0.83 | (1.37) |
| FY2018 | 2.20 | (2.62) |
| FY2017 | 4.82 | (14.84) |
| FY2016 | 19.65 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (0.02) | — | −0.02 | |
| Retained earnings / total assets | 0.09 | — | 0.12 | |
| EBIT / total assets | 0.08 | — | 0.27 | |
| Market value of equity / total liabilities | 1.57 | — | 0.94 | |
| Sales / total assets | 0.28 | — | 0.28 | |
| Altman Z-score | Distress zone | 1.59 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Grey zone | 2.60 | ||
Z and Z″ put Permian Resources Corporation in different zones: distress zone by Z, grey zone by Z″.
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 |
|---|---|
| TPL Texas Pacific Land Corporation compare | 75.6× |
| EXE Expand Energy Corporation compare | 2.6× |
| RRC Range Resources Corporation compare | 2.3× |
| EQT EQT Corporation compare | 2.0× |
| AR Antero Resources Corporation compare | 1.9× |
| PR Permian Resources Corporation | 1.6× |
| APA APA Corporation compare | 1.4× |
| SM SM Energy Company compare | 1.4× |
| WDS Woodside Energy Group Ltd compare | 1.1× |
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