Battalion Oil Corp (BATL) Financials
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 Sep 8, 2026; every other figure is from the SEC filings on this page. Not financial advice.
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 Corp (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).
Heavy investing and financing dependence now coexist with shrinking revenue, operating losses, and a balance sheet below zero equity.
In FY2025, net income turned positive at$11.9M even as operating income remained negative at-$6.6M ; interest expense of$28.8M underscores that bottom-line profit was not produced by core operations. Operating cash flow of$39.1M covered only part of the investing outflow of$75.0M , with financing inflows bridging the gap; the pattern points to externally supported investment activity rather than fully self-funded deployment.
Revenue fell from
By FY2025, liabilities exceeded assets, leaving equity negative at
Financial Health Signals
Scored against energy companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. 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 Corp'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.
Battalion Oil Corp has an operating margin of -4.0%, meaning the company loses $4 on every $100 of revenue. This results in a profitability score of 19/100. This is up from -6.1% the prior year.
Battalion Oil Corp's revenue declined 14.4% year-over-year, from $193.9M to $166.0M. This contraction results in a growth score of 10/100.
Battalion Oil Corp'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.
Not available for Battalion Oil Corp, and counted as zero in the overall score.
Battalion Oil Corp scores -0.44, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($75.6M) relative to total liabilities ($493.5M). 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.
Battalion Oil Corp 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, neither operating efficiency signal passes.
For every $1 of reported earnings, Battalion Oil Corp 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.
Battalion Oil Corp 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
Earnings & Revenue
Battalion Oil Corp 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%.
Battalion Oil Corp reported $15.5M in net income in Q2 2026. This represents an increase of 223.4% from the same quarter a year earlier. Against the prior quarter it is up 127.5%.
Not reported for Q2 2026.
Cash & Balance Sheet
Battalion Oil Corp held $83.1M in cash against $156.2M in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Battalion Oil Corp'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.
Battalion Oil Corp'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.
Battalion Oil Corp's ROE was 7.6% in Q2 2026, measuring profit generated per dollar of shareholder equity. Against the prior quarter it is up 43.6 percentage points.
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.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-Q | 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 | $6.8M+4532.0% | -$2.1M-162.9% | -$10.7M+40.4% | $826K-21.6% | -$153K-103.0% | $3.4M+14643.5% | -$17.9M-2585.9% | $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 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Income | $15.5M+223.4% | -$56.5M-1037.7% | $1.8M+108.1% | -$735K-103.4% | $4.8M+4667.6% | $6.0M+119.3% | -$22.2M-167.9% | $21.6M+140.2% |
| EPS (Basic) | $0.34+261.9% | -$3.72-962.9% | -$0.76+59.6% | -$0.91-367.6% | -$0.21+60.4% | -$0.35+84.4% | -$1.88-214.6% | $0.34+109.7% |
| EPS (Diluted) | $0.34 | -$3.72-962.9% | -$0.76+59.6% | -$0.91 | -$0.21+60.4% | -$0.35+84.4% | -$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
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.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-Q | 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 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| 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 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| 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 | $203.1M+3979.6% | $157.1M+9017.1% | -$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 | -$314.0M-14.6% | -$329.5M-18.2% | -$273.0M+4.2% | -$274.8M-4.6% | -$274.1M+3.6% | -$278.9M+1.9% | -$284.9M-12.6% | -$262.7M+8.1% |
Not reported in any period shown, so not listed: Inventory, Goodwill.
BATL Cash Flow 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.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-Q | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $8.8M-14.0% | $2.1M-83.5% | -$11.8M-276.8% | $28.0M+651.5% | $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 | -$4.2M+87.4% | $56.4M+380.6% | -$5.0M+61.2% | -$16.5M-139.7% | -$33.4M-140.7% | -$20.1M+36.9% | -$12.9M+12.8% | -$6.9M-28.2% |
| Financing Cash Flow | $29.5M+609.4% | -$32.3M-152.7% | -$5.7M-43.8% | -$5.7M+55.3% | -$5.8M+44.7% | $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.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-Q | 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 |
| 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 debt-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 Corp BATL | FY2025 | $166.0M | $11.9M | 7.1% | $75.6M | 13/100 |
| Mexco Energy Cor MXC | FY2026 | $6.6M | $1.3M | 19.9% | $22.5M | 58/100 |
| EON Resources Inc. EONR | FY2024 | $19.4M | -$8.1M | -41.9% | $27.7M | 7/100 |
| Barnwell Inds BRN | FY2025 | $13.7M | -$7.1M | -51.9% | $13.8M | 26/100 |
| TRIO PETROLEUM CORP TPET | FY2025 | $399K | -$7.3M | N/A | $8.7M | — |
Where Battalion Oil Corp Ranks
Frequently Asked Questions
What is Battalion Oil Corp's annual revenue?
Battalion Oil Corp (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 Corp's revenue growing?
Battalion Oil Corp (BATL) revenue declined by 14.4% year-over-year, from $193.9M to $166.0M in fiscal year 2025.
Is Battalion Oil Corp profitable?
Yes, Battalion Oil Corp (BATL) reported a net income of $11.9M in fiscal year 2025, with a net profit margin of 7.1%.
How much debt does Battalion Oil Corp have?
As of fiscal year 2025, Battalion Oil Corp (BATL) had $28.0M in cash and equivalents against $181.0M in long-term debt.
What is Battalion Oil Corp's operating margin?
Battalion Oil Corp (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 Corp's net profit margin?
Battalion Oil Corp (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 Corp's operating cash flow?
Battalion Oil Corp (BATL) generated $39.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Battalion Oil Corp's total assets?
Battalion Oil Corp (BATL) had $460.7M in total assets as of fiscal year 2025, including both current and long-term assets.
What is Battalion Oil Corp's current ratio?
Battalion Oil Corp (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 Corp's return on assets (ROA)?
Battalion Oil Corp (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 Corp's P/E ratio?
Battalion Oil Corp (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 $75.6M as of Sep 8, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Battalion Oil Corp's price-to-sales ratio?
Battalion Oil Corp (BATL) trades at 0.5x sales, its market capitalization divided by revenue of $163.1M revenue, trailing 12 months to June 30, 2026. The market capitalization is $75.6M as of Sep 8, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
Why is Battalion Oil Corp's debt-to-equity ratio negative or not reported?
Battalion Oil Corp (BATL) has negative shareholder equity of -$32.8M as of fiscal year 2025, so no debt-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 Corp's Altman Z-Score?
Battalion Oil Corp (BATL) has an Altman Z-Score of -0.44, 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 Corp's Piotroski F-Score?
Battalion Oil Corp (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 Corp's earnings high quality?
Battalion Oil Corp (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 Corp cover its interest payments?
Battalion Oil Corp (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 Corp?
Battalion Oil Corp (BATL) scores 13 out of 100 on our Financial Health Score, indicating weak standing within its energy companies peer group. The score is a 0-100 composite 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. 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.