Ring Energy, Inc.
REI Energy Oil & Gas E&P
Ring Energy, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $307.2 million, down 16.1% from fiscal 2024. In the quarter to June 2026, revenue grew 26.7%, EPS grew 180.0%, free cash flow fell 104.4% and total debt fell 19.6%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
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Ring Energy, Inc. (REI) Altman Z-score
Ring Energy, Inc.'s Altman Z-score for fiscal 2025 is 0.31, 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 | 0.31 | (0.56) |
| FY2024 | 0.88 | 0.04 |
| FY2023 | 0.83 | (0.03) |
| FY2022 | 0.87 | 0.36 |
| FY2021 | 0.50 | 2.16 |
| FY2020 | −1.66 | (2.27) |
| FY2019 | 0.61 | (1.30) |
| FY2018 | 1.91 | (5.63) |
| FY2017 | 7.55 | (9.69) |
| FY2016 | 17.23 | 15.49 |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (0.03) | — | −0.03 | |
| Retained earnings / total assets | 0.02 | — | 0.02 | |
| EBIT / total assets | (0.02) | — | −0.08 | |
| Market value of equity / total liabilities | 0.31 | — | 0.19 | |
| Sales / total assets | 0.22 | — | 0.22 | |
| Altman Z-score | Distress zone | 0.31 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Grey zone | 1.24 | ||
Z and Z″ put Ring Energy, Inc. 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 |
|---|---|
| PNRG PrimeEnergy Corporation compare | 3.7× |
| SD SandRidge Energy, Inc. compare | 2.1× |
| AMPY Amplify Energy Corp. compare | 1.8× |
| EGY Vaalco Energy Inc compare | 0.9× |
| KGEI Kolibri Global Energy Inc. compare | 0.8× |
| REI Ring Energy, Inc. | 0.3× |
| WTI W&T Offshore, Inc. compare | −0.7× |
| FTW Presidio Production Company compare | — |
| SJT San Juan Basin 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