Prairie Operating Co.
PROP Energy Oil & Gas E&P
Prairie Operating Co.’s revenue for fiscal 2025 (year ended December 2025) was $241.6 million, up 2,943.8% from fiscal 2024. In the quarter to June 2026, revenue grew 45.2%, EPS grew 25.7%, free cash flow fell 5,603.9% and total debt rose 12.5%, each against the same quarter a year earlier. Revenue growth for three consecutive years; insiders bought in the last twelve months.
Follow PROP
Prairie Operating Co. (PROP) Altman Z-score
Prairie Operating Co.'s Altman Z-score for fiscal 2025 is 0.36, in the distress zone (below 1.81).
Altman Z-score, annual
Embed this chart
Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 0.36 | 1.67 |
| FY2024 | −1.30 | (2.90) |
| FY2023 | 1.59 | 49.56 |
| FY2022 | −47.96 | (39.83) |
| FY2021 | −8.13 | 12.32 |
| FY2020 | −20.45 | (9.33) |
| FY2019 | −11.12 | 1.91 |
| FY2018 | −13.02 | (0.61) |
| FY2017 | −12.41 | (13.97) |
| FY2016 | 1.56 | 0.05 |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (0.05) | — | −0.06 | |
| Retained earnings / total assets | (0.09) | — | −0.13 | |
| EBIT / total assets | 0.07 | — | 0.23 | |
| Market value of equity / total liabilities | 0.11 | — | 0.07 | |
| Sales / total assets | 0.26 | — | 0.26 | |
| Altman Z-score | Distress zone | 0.36 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | 0.26 | ||
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 |
|---|---|
| CKX CKX Lands, Inc. compare | 16.0× |
| INDO Indonesia Energy Corporation Limited compare | 4.9× |
| PROP Prairie Operating Co. | 0.4× |
| BATL Battalion Oil Corporation compare | −0.5× |
| EONR EON Resources Inc. compare | −1.0× |
| BSIN Big Sky Industrial Inc. compare | −7.3× |
| VOC VOC Energy Trust compare | — |
| CRT Cross Timbers Royalty Trust compare | — |
| PVL PERMIANVILLE ROYALTY TRUST 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