What is Battalion Oil Corporation's earnings per share (EPS)?

Battalion Oil Corporation (BATL) reported diluted earnings per share of -$2.24 for fiscal year 2025. The change from the previous fiscal year is not meaningful, because that year’s figure was zero or negative. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Battalion Oil Corporation (BATL) Financials

BATL

Trailing 12 months to June 30, 2026

Revenue $163.1M -12.0% YoY

Net Income -$39.9M -489.5% YoY

EPS (Diluted) -$2.24 FY2025 annual

Operating Cash Flow $27.0M +10.1% YoY

Market Cap $48.7M as of Oct 23, 2026

Price / Sales 0.3x on $163.1M revenue, trailing 12 months to June 30, 2026

Price / Earnings n/m net loss, so no earnings multiple, trailing 12 months to June 30, 2026

Price / Book 0.2x on $203.1M equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 23, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 12, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 12, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the BATL SEC filings page.

Battalion Oil Corporation (BATL) reported $163.1M in revenue over the twelve months to Jun 30, 2026, down 12.0% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI BATL FY2025 2026-10-03

The business now depends on financing to fund investment, while shrinking revenue and negative equity weaken the operating foundation.

FY2025 produced positive net income of $11.9M despite a -4.0% operating margin, so bottom-line profit did not describe the operating engine. Operating cash flow was $39.1M even as operating income was a loss of $6.6M, pointing to accrual and working-capital mechanics rather than operating profit alone.

Revenue fell from $359.1M in FY2022 to $166.0M in FY2025, indicating a materially smaller operating base. Operating margin fell from 42.4% to -4.0%, showing the deterioration reached profitability rather than stopping at the top line.

Investment spending reached $75.0M against $39.1M of operating cash flow in FY2025, so internal cash did not fund reported investment. That shortfall coincided with $44.1M of financing inflow and liabilities exceeding assets by $32.8M, tying capital spending to external funding while equity was negative.

Financial Health Signals

Financial Health Score (5 of 6 dimensions) 14/100

Scored as: Energy peer group

Scored against energy companies for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed: here 5 of 6, with the others left out rather than counted as zero. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Battalion Oil Corporation's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Battalion Oil Corporation has an operating margin of -4.0%, meaning the company loses $4 on every $100 of revenue. This results in a profitability score of 18/100. This is up from -6.1% the prior year.

Growth

Battalion Oil Corporation's revenue declined 14.4% year-over-year, from $193.9M to $166.0M. This contraction results in a growth score of 8/100.

Leverage

Liquidity

Battalion Oil Corporation's current ratio of 0.90 is below the typical benchmark, resulting in a score of 27/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Cash Flow

n/a

Not available for Battalion Oil Corporation, so it is left out of the overall score, which averages the 5 of 6 dimensions that can be computed.

Returns

Altman Z-Score Distress

-0.47

Battalion Oil Corporation scores -0.47, below the 1.81 distress threshold. The score is pulled down most by an accumulated deficit of $273.0M against total assets of $460.7M. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial

5/8

Battalion Oil Corporation passes 5 of 8 computable financial strength tests (1 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, the one computable operating efficiency signal (asset turnover improving) does not pass.

Earnings Quality Cash-Backed

3.29x

For every $1 of reported earnings, Battalion Oil Corporation generates $3.29 in operating cash flow ($39.1M OCF vs $11.9M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage At Risk

N/A

Battalion Oil Corporation reported an operating loss of $6.6M against $28.8M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.

Key Financial Metrics

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Earnings & Revenue

Revenue

$48.1M

YoY+12.4%

QoQ+22.9%

5Y CAGR-5.6%

Battalion Oil Corporation generated $48.1M in revenue in Q2 2026. This represents an increase of 12.4% from the same quarter a year earlier. Against the prior quarter it is up 22.9%.

Net Income

$15.5M

YoY+223.4%

QoQn/m

5Y CAGRn/m

Battalion Oil Corporation reported $15.5M in net income in Q2 2026. This represents an increase of 223.4% from the same quarter a year earlier. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.

EPS (Diluted)

$0.34

Battalion Oil Corporation earned $0.34 per diluted share (EPS) in Q2 2026.

EBITDA

Not reported for Q2 2026.

Cash & Balance Sheet

Cash & Debt

$83.1M

YoY+86.2%

QoQ+79.2%

5Y CAGR+124.5%

10Y CAGR+27.8%

Battalion Oil Corporation held $83.1M in cash against $156.2M in long-term debt as of Q2 2026.

Shares Outstanding

57M

Battalion Oil Corporation had 57M shares outstanding in Q2 2026.

Free Cash Flow

Not reported for Q2 2026.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Operating Margin

14.1%

YoY+14.4pp

QoQ+19.5pp

5Y change-18.4pp

Battalion Oil Corporation's operating margin was 14.1% in Q2 2026, reflecting core business profitability. This is up 14.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 19.5 percentage points.

Net Margin

32.2%

YoY+21.0pp

5Y change+84.9pp

Battalion Oil Corporation's net profit margin was 32.2% in Q2 2026, showing the share of revenue converted to profit. This is up 21.0 percentage points from the same quarter a year earlier.

Return on Equity

7.6%

QoQ+43.6pp

Battalion Oil Corporation's quarterly ROE was 7.6% in Q2 2026: one quarter's net income over shareholder equity, not annualized. Against the prior quarter it is up 43.6 percentage points.

Gross Margin

Not reported for Q2 2026.

Capital Allocation

None of these metrics is reported for Q2 2026.

BATL Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

BATL quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$163.1M	$166.0M-14.4%	$193.9M-12.2%	$220.8M-38.5%	$359.1M+25.9%	$285.2M+92.3%	$148.3M	N/A	$226.6M-40.0%	$378.0M	N/A	$550.3M-52.1%	$1.1B+14.9%	$999.5M+302.5%	$248.3M+137.5%	$104.6M
SG&A Expenses	$16.0M	$14.6M-20.3%	$18.4M-3.5%	$19.0M+7.9%	$17.6M+6.8%	$16.5M-10.5%	$18.5M	N/A	$62.1M-44.3%	$111.4M	N/A	$87.8M-24.7%	$116.5M-12.0%	$132.4M+18.9%	$111.3M+440.3%	$20.6M
Operating Income	-$5.2M	-$6.6Mn/m	-$11.7M-166.8%	$17.6M-88.4%	$152.1M+47.2%	$103.4Mn/m	-$261.8M	N/A	$92.1M-87.1%	$715.4M	N/A	-$2.7Bn/m	-$58.4Mn/m	-$1.3Bn/m	-$29.7M-250.1%	$19.8M
EBITDA	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$41.1M
Interest Expense	$25.3M	$28.8M-0.6%	$29.0M-20.5%	$36.5M+576.1%	$5.4M+1250.0%	$400K	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$17.4M
Income Tax	$0	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0-100.0%	$95.8Mn/m	-$5.0Mn/m	$0-100.0%	$9.1Mn/m	-$1.1Mn/m	-$157.7Mn/m	-$13.2M-293.8%	$6.8M
Net Income	-$39.9M	$11.9Mn/m	-$31.9Mn/m	-$3.0M-116.4%	$18.5Mn/m	-$28.3Mn/m	-$229.7M	N/A	$46.0M-91.4%	$535.7M	N/A	-$1.9B-708.5%	$316.0Mn/m	-$1.2Bn/m	-$53.9Mn/m	-$1.4M
EPS (Basic)	N/A	-$2.24n/m	-$3.90	-$0.92	$1.14n/m	-$1.74n/m	-$14.18	N/A	$0.29-92.1%	$3.67	N/A	-$18.66	$3.40n/m	-$16.25n/m	-$0.91	-$0.05
EPS (Diluted)	—	-$2.24n/m	-$3.90	-$0.92	$1.12n/m	-$1.74n/m	-$14.18	N/A	$0.29-92.1%	$3.65	N/A	-$18.66	$2.93n/m	-$16.25n/m	-$0.91	-$0.05
Diluted Shares (Avg)	N/A	16M0.0%	16M	16M	17M+1.5%	16M+0.4%	16M	N/A	157M+17.8%	134M	N/A	108M	108M+42.9%	76M-51.5%	156M	26M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$48.1M+12.4%	$39.2M-17.5%	$32.3M-35.0%	$43.5M-3.9%	$42.8M-12.8%	$47.5M-4.8%	$49.7M+5.1%	$45.3M-16.3%
SG&A Expenses	$4.1M+58.4%	$4.3M-3.5%	$4.6M-35.7%	$3.1M-20.0%	$2.6M-23.1%	$4.4M+8.4%	$7.1M+30.0%	$3.9M+20.7%
Operating Income	$6.8Mn/m	-$2.1M-162.9%	-$10.7Mn/m	$826K-21.6%	-$153K-103.0%	$3.4M+14643.5%	-$17.9Mn/m	$1.1M-84.5%
Interest Expense	$5.1M-30.2%	$5.8M-18.8%	$7.0M+13.9%	$7.3M+6.5%	$7.3M-3.5%	$7.2M-14.3%	$6.1M	$6.9M
Income Tax	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m
Net Income	$15.5M+223.4%	-$56.5M-1037.7%	$1.8Mn/m	-$735K-103.4%	$4.8Mn/m	$6.0Mn/m	-$22.2M-167.9%	$21.6Mn/m
EPS (Basic)	$0.34	-$3.72n/m	-$0.76n/m	-$0.91	-$0.21n/m	-$0.35n/m	-$1.88	$0.34
EPS (Diluted)	$0.34	-$3.72n/m	-$0.76n/m	-$0.91	-$0.21n/m	-$0.35n/m	-$1.88	$0.34
Diluted Shares (Avg)	45M	17M+5.8%	N/A	16M	16M0.0%	16M0.0%	N/A	17M

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, EBITDA.

BATL Balance Sheet

BATL quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$460.7M+6.9%	$431.0M-11.2%	$485.3M0.0%	$485.4M+24.4%	$390.3M+12.6%	$346.5M-40.7%	$584.7M-71.9%	$2.1B+26.8%	$1.6B+24.5%	$1.3B-61.8%	$3.5B-45.8%	$6.4B+19.2%	$5.4B+6.3%	$5.0B+1786.8%	$267.2M
Current Assets	$57.2M+5.8%	$54.1M-40.3%	$90.5M+2.7%	$88.2M+0.3%	$87.9M+83.8%	$47.8M-32.8%	$71.2M-50.8%	$144.7M-69.3%	$471.8M+193.7%	$160.6M-71.1%	$556.6M-20.8%	$702.7M+107.5%	$338.6M+17.6%	$287.9M+1317.6%	$20.3M
Cash & Equivalents	$28.0M+41.9%	$19.7M-65.7%	$57.5M+75.8%	$32.7M-30.2%	$46.9M+991.1%	$4.3M-24.7%	$5.7M-87.8%	$46.9M-88.9%	$424.1M+1766862.5%	$24K-99.7%	$8.0M-81.6%	$43.7M+1442.4%	$2.8M+13.1%	$2.5M+5014.3%	$49K
Short-Term Investments	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$4.6M-1.2%	$4.7M-8.8%	$5.1M+65.2%	$3.1M-27.7%	$4.3M
Accounts Receivable	$12.1M-54.1%	$26.3M+14.2%	$23.0M-39.4%	$38.0M+3.2%	$36.8M+14.2%	$32.2M-33.5%	$48.5M+35.8%	$35.7M-1.9%	$36.4M-75.4%	$147.8M-14.9%	$173.6M-37.2%	$276.6M-11.5%	$312.5M+18.9%	$262.8M+2454.5%	$10.3M
Long-Term Investments	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$227.8M	N/A
Total Liabilities	$493.5M+15.6%	$426.9M+2.3%	$417.3M+4.1%	$400.7M+22.7%	$326.6M+27.3%	$256.5M-4.3%	$268.0M-69.8%	$886.6M+55.1%	$571.6M-52.6%	$1.2B-64.6%	$3.4B-26.1%	$4.6B+18.0%	$3.9B+7.3%	$3.6B+1272.2%	$265.5M
Current Liabilities	$63.6M-18.1%	$77.7M-42.2%	$134.4M-18.5%	$165.0M+35.7%	$121.6M+46.2%	$83.2M-21.9%	$106.4M-34.2%	$161.7M+7.6%	$150.3M-27.6%	$207.6M-29.7%	$295.2M-60.4%	$744.7M+12.1%	$664.4M-2.0%	$678.0M+2327.7%	$27.9M
Non-Current Liabilities	$429.8M+23.1%	$349.3M+23.5%	$282.9M+20.0%	$235.7M+15.0%	$205.0M+18.2%	$173.4M+7.3%	$161.6M-77.7%	$724.8M+72.0%	$421.3M-57.8%	$999.4M-67.9%	$3.1B-19.5%	$3.9B+19.2%	$3.2B+9.4%	$3.0B+1148.1%	$237.6M
Long-Term Debt	$181.0M+24.3%	$145.5M+3.7%	$140.3M-23.2%	$182.7M+0.6%	$181.6M+14.6%	$158.5M+10.1%	$144.0M-76.5%	$613.1M+49.8%	$409.2M-57.6%	$964.7M-66.4%	$2.9B-23.3%	$3.7B+17.7%	$3.2B+56.5%	$2.0B+907.2%	$202.0M
Total Equity	-$32.8M-895.9%	$4.1M-93.9%	$68.0M-19.6%	$84.6M+32.8%	$63.7M-29.2%	$90.0M-71.6%	$316.6M-73.5%	$1.2B+11.7%	$1.1B+851.3%	$112.7M+115.0%	$52.4M-97.0%	$1.8B+22.4%	$1.4B+3.5%	$1.4B+83113.2%	$1.7M
Retained Earnings	-$273.0Mn/m	-$284.9Mn/m	-$253.0Mn/m	-$249.9Mn/m	-$268.5Mn/m	-$240.2Mn/m	-$10.5M-110.3%	$101.7M+82.5%	$55.7Mn/m	-$480.0Mn/m	-$3.2Bn/m	-$1.2Bn/m	-$1.5Bn/m	-$274.5Mn/m	-$220.6M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$432.6M-13.3%	$412.4M-18.5%	$460.7M+6.9%	$491.7M+7.4%	$498.8M+2.4%	$506.2M+3.6%	$431.0M-11.2%	$458.0M+0.3%
Current Assets	$107.5M+28.8%	$82.1M-26.3%	$57.2M+5.8%	$84.3M+46.4%	$83.5M-3.1%	$111.4M+33.4%	$54.1M-40.3%	$57.6M-23.5%
Cash & Equivalents	$83.1M+86.2%	$46.4M-37.0%	$28.0M+41.9%	$50.5M+69.1%	$44.6M-18.0%	$73.6M+50.3%	$19.7M-65.7%	$29.8M-30.0%
Short-Term Investments	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m
Accounts Receivable	$14.4M-41.1%	$19.6M-7.5%	$12.1M-54.1%	$17.9M-14.8%	$24.5M-1.7%	$21.2M-18.5%	$26.3M+14.2%	$21.1M-22.5%
Long-Term Investments	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m
Total Liabilities	$229.4M-54.5%	$255.2M-49.8%	$493.5M+15.6%	$511.9M+21.0%	$504.0M+8.5%	$508.0M+11.1%	$426.9M+2.3%	$423.0M+1.7%
Current Liabilities	$49.1M-45.5%	$91.2M-5.1%	$63.6M-18.1%	$88.2M-27.8%	$90.0M-42.0%	$96.1M-34.9%	$77.7M-42.2%	$122.0M-13.7%
Non-Current Liabilities	$180.4M-56.4%	$164.0M-60.2%	$429.8M+23.1%	$423.8M+40.8%	$414.0M+33.8%	$411.9M+33.0%	$349.3M+23.5%	$301.0M+9.6%
Long-Term Debt	$156.2M-18.4%	$135.9M-31.0%	$181.0M+24.3%	$186.2M+101.0%	$191.5M+89.2%	$196.8M+55.2%	$145.5M+3.7%	$92.7M-39.6%
Total Equity	$203.1Mn/m	$157.1Mn/m	-$32.8M-895.9%	-$20.3M-157.9%	-$5.2M-123.1%	-$1.8M-105.6%	$4.1M-93.9%	$35.0M-14.3%
Retained Earnings	-$314.0Mn/m	-$329.5Mn/m	-$273.0Mn/m	-$274.8Mn/m	-$274.1Mn/m	-$278.9Mn/m	-$284.9Mn/m	-$262.7Mn/m

Not reported in any period shown, so not listed: Inventory, Goodwill.

BATL Cash Flow Statement

BATL quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$27.0M	$39.1M+10.6%	$35.4M+101.0%	$17.6M-77.7%	$78.8M+14.9%	$68.6M+36.6%	$50.2M	N/A	$67.2M-41.4%	$114.6M	N/A	$467.0M-30.1%	$667.9M+35.2%	$493.9M+485.5%	$84.4M+182.8%	$29.8M
Depreciation & Amortization	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$21.3M
Stock-Based Compensation	N/A	-$109K-171.7%	$152Kn/m	-$1.1M-148.4%	$2.2M+10.0%	$2.0M-22.0%	$2.6M	N/A	$15.3M-58.5%	$36.8M	N/A	$14.5M-22.4%	$18.7M+9.5%	$17.1M+274.2%	$4.6M+27.6%	$3.6M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$43.1M-69.1%	$139.3M+262.0%	$38.5M+5625.9%	$672K
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$624.9M+76.2%	$354.6M+672.9%	$45.9M+57.3%	$29.2M
Investing Cash Flow	$30.7M	-$75.0Mn/m	-$65.4Mn/m	-$51.8Mn/m	-$126.1Mn/m	-$51.9Mn/m	-$72.4M	N/A	-$706.5M-218.0%	$598.6M	N/A	-$667.1Mn/m	-$1.3Bn/m	-$2.1Bn/m	-$2.8Bn/m	-$25.4M
Financing Cash Flow	-$14.1M	$44.1Mn/m	-$7.7M-113.1%	$59.1M+85.8%	$31.8M+16.0%	$27.4M+69.4%	$16.2M	N/A	$262.1Mn/m	-$289.1M	N/A	$164.4M-74.5%	$644.0M-59.9%	$1.6B-41.6%	$2.8Bn/m	-$4.4M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$2.1M+1068.9%	$183K

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$8.8M-14.0%	$2.1M-83.5%	-$11.8M-276.8%	$28.0Mn/m	$10.2M-65.8%	$12.7M+225.1%	$6.7M+2.5%	-$5.1M-309.9%
Stock-Based Compensation	N/A	N/A	N/A	N/A	N/A	-$109K-210.1%	N/A	N/A
Investing Cash Flow	-$4.2Mn/m	$56.4Mn/m	-$5.0Mn/m	-$16.5Mn/m	-$33.4Mn/m	-$20.1Mn/m	-$12.9Mn/m	-$6.9Mn/m
Financing Cash Flow	$29.5Mn/m	-$32.3M-152.7%	-$5.7Mn/m	-$5.7Mn/m	-$5.8Mn/m	$61.2M+216.6%	-$4.0M-117.1%	-$12.6M-146.8%

Not reported in any period shown, so not listed: Depreciation & Amortization, Capital Expenditures, Free Cash Flow, Dividends Paid, Share Buybacks.

BATL Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

BATL quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Margin	-4.0%+2.1pp	-6.1%-14.0pp	8.0%-34.4pp	42.4%+6.1pp	36.3%	-176.6%	N/A	40.7%	189.3%	N/A	-498.7%	-5.1%	-129.2%	-12.0%-30.9pp	18.9%
Net Margin	7.1%+23.6pp	-16.4%-15.1pp	-1.4%-6.5pp	5.2%+15.1pp	-9.9%	-154.9%	N/A	20.3%	141.7%	N/A	-349.4%	27.5%	-122.3%	-21.7%-20.4pp	-1.3%
Return on Equity	N/A	-773.8%-769.3pp	-4.5%-26.4pp	21.9%+66.4pp	-44.5%+210.9pp	-255.4%	N/A	3.8%-46.1pp	50.0%	N/A	-3668.1%-3686.0pp	17.8%+102.3pp	-84.5%-80.6pp	-3.9%+79.7pp	-83.5%
Return on Assets	2.6%+10.0pp	-7.4%-6.8pp	-0.6%-4.5pp	3.8%+11.1pp	-7.3%+59.0pp	-66.3%	N/A	2.2%-30.4pp	32.6%	N/A	-55.6%-60.5pp	5.0%+27.8pp	-22.8%-21.8pp	-1.1%-0.5pp	-0.5%
Current Ratio	0.90+0.2x	0.700.0x	0.67+0.1x	0.53-0.2x	0.72+0.1x	0.58-0.1x	0.67-0.2x	0.89-2.2x	3.14+2.4x	0.77-1.1x	1.89+0.9x	0.94+0.4x	0.51+0.1x	0.42-0.3x	0.73
Debt-to-Equity	N/A	35.32+33.3x	2.06-0.1x	2.16-0.7x	2.85+1.1x	1.76+1.3x	0.45-0.1x	0.51+0.1x	0.38-8.2x	8.56-46.3x	54.83+52.7x	2.11-0.1x	2.20+0.7x	1.46-118.8x	120.24
Liabilities-to-Equity	N/A	103.62+97.5x	6.14+1.4x	4.74-0.4x	5.13+2.3x	2.85+2.0x	0.85+0.1x	0.74+0.2x	0.53-10.2x	10.71-54.3x	64.99+62.4x	2.60-0.1x	2.70+0.1x	2.61-155.4x	158.03
Asset Turnover	0.36-0.1x	0.450.0x	0.45-0.3x	0.740.0x	0.73+0.3x	0.43	N/A	0.11-0.1x	0.23	N/A	0.160.0x	0.180.0x	0.19+0.1x	0.05-0.3x	0.39
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	54.4%+18.9pp	35.5%+17.0pp	18.5%-9.4pp	27.9%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Margin	14.1%+14.4pp	-5.5%-12.6pp	-33.2%+3.0pp	1.9%-0.4pp	-0.4%-10.8pp	7.1%+7.1pp	-36.1%-34.7pp	2.3%-10.3pp
Net Margin	32.2%+21.0pp	-144.2%	5.6%+50.3pp	-1.7%-49.5pp	11.2%+11.4pp	12.7%+75.3pp	-44.7%-113.9pp	47.8%+147.2pp
Return on Equity	7.6%	-35.9%	N/A	N/A	N/A	N/A	-538.9%-586.9pp	61.8%+193.6pp
Return on Assets	3.6%+2.6pp	-13.7%-14.9pp	0.4%+5.5pp	-0.1%-4.9pp	1.0%+1.0pp	1.2%+7.6pp	-5.1%-11.9pp	4.7%+16.5pp
Current Ratio	2.19+1.3x	0.90-0.3x	0.90+0.2x	0.96+0.5x	0.93+0.4x	1.16+0.6x	0.700.0x	0.47-0.1x
Debt-to-Equity	0.77	0.86	N/A	N/A	N/A	N/A	35.32+33.3x	2.65-1.1x
Liabilities-to-Equity	1.13	1.62	N/A	N/A	N/A	N/A	103.62+97.5x	12.09+1.9x
Asset Turnover	0.110.0x	0.100.0x	0.070.0x	0.090.0x	0.090.0x	0.090.0x	0.120.0x	0.100.0x

Not reported in any period shown, so not listed: Gross Margin, FCF Margin.

Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Net Margin.

Note: Shareholder equity is negative (-$32.8M), which causes the debt-to-equity, liabilities-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.

Note: The current ratio is below 1.0 (0.90), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Battalion Oil Corporation BATL	FY2025	$166.0M	$11.9M	7.1%	$48.7M	14/100
Mexco Energy Corporation MXC	FY2026	$6.6M	$1.3M	19.9%	$20.1M	69/100
EON Resources Inc. EONR	FY2025	$16.9M	-$7.5M	-44.1%	$23.3M	22/100
Barnwell Industries, Inc. BRN	FY2025	$13.7M	-$7.1M	-51.9%	$12.6M	24/100
Trio Petroleum Corp. TPET	FY2025	$399K	-$7.3M	N/A	$8.1M	—

Where Battalion Oil Corporation Ranks

Frequently Asked Questions

What is Battalion Oil Corporation's annual revenue?

Battalion Oil Corporation (BATL) reported $166.0M in total revenue for fiscal year 2025. This represents a -14.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Battalion Oil Corporation's revenue growing?

Battalion Oil Corporation (BATL) revenue declined by 14.4% year-over-year, from $193.9M to $166.0M in fiscal year 2025.

Is Battalion Oil Corporation profitable?

No, Battalion Oil Corporation (BATL) reported a net loss of $39.9M over the trailing 12 months to June 30, 2026. In fiscal year 2025 it reported a net income of $11.9M, with a net profit margin of 7.1%.

How much debt does Battalion Oil Corporation have?

As of fiscal year 2025, Battalion Oil Corporation (BATL) had $28.0M in cash and equivalents against $181.0M in long-term debt.

What is Battalion Oil Corporation's operating margin?

Battalion Oil Corporation (BATL) had an operating margin of -4.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Battalion Oil Corporation's net profit margin?

Battalion Oil Corporation (BATL) had a net profit margin of 7.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Battalion Oil Corporation's operating cash flow?

Battalion Oil Corporation (BATL) generated $39.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Battalion Oil Corporation's total assets?

Battalion Oil Corporation (BATL) had $460.7M in total assets as of fiscal year 2025, including both current and long-term assets.

How many shares does Battalion Oil Corporation have outstanding?

Battalion Oil Corporation (BATL) had 18M shares outstanding as of fiscal year 2025.

What is Battalion Oil Corporation's current ratio?

Battalion Oil Corporation (BATL) had a current ratio of 0.90 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is Battalion Oil Corporation's return on assets (ROA)?

Battalion Oil Corporation (BATL) had a return on assets of 2.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Battalion Oil Corporation's P/E ratio?

Battalion Oil Corporation (BATL) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $48.7M as of Oct 23, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Battalion Oil Corporation's price-to-sales ratio?

Battalion Oil Corporation (BATL) trades at 0.3x sales, its market capitalization divided by $163.1M revenue, trailing 12 months to June 30, 2026. The market capitalization is $48.7M as of Oct 23, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

Why is Battalion Oil Corporation's debt-to-equity ratio negative or not reported?

Battalion Oil Corporation (BATL) has negative shareholder equity of -$32.8M as of fiscal year 2025, so no debt-to-equity or liabilities-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.

What is Battalion Oil Corporation's Altman Z-Score?

Battalion Oil Corporation (BATL) has an Altman Z-Score of -0.47, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Battalion Oil Corporation's Piotroski F-Score?

Battalion Oil Corporation (BATL) has a Piotroski F-Score of 5 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Battalion Oil Corporation's earnings high quality?

Battalion Oil Corporation (BATL) has an earnings quality ratio of 3.29x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Battalion Oil Corporation cover its interest payments?

Battalion Oil Corporation (BATL) reported an operating loss of $6.6M against $28.8M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Battalion Oil Corporation?

Battalion Oil Corporation (BATL) scores 14 out of 100 on our Financial Health Score, indicating weak standing within its energy companies peer group. The score is the average of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. For Battalion Oil Corporation it averages the 5 of 6 dimensions that can be computed; the others are left out rather than counted as zero. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.