Empire Petroleum Financials
Empire Petroleum (EP) reported $34.2M in revenue for fiscal year 2025, down 21.6% from the prior fiscal year. 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).
Empire Petroleum’s recent mechanics show losses outrunning liquidity, with shrinking scale and repeated financing plugging a weakening internal cash engine.
Earnings quality broke sharply: FY2025’s$72.1M net loss dwarfed operating cash flow of-$3.9M , so the reported loss appears to include large noncash damage rather than a matching cash drain. Meanwhile, book capital collapsed as assets nearly halved to$65.9M and equity flipped to-$4.6M , implying losses have been consuming asset values and shareholder cushion faster than cash is leaving the business.
Liquidity has tightened each year: the current ratio fell from 1.3x in FY2022 to 0.3x in FY2025, meaning near-term obligations now outweigh readily available current assets. Cash also fell from
Overhead looks sticky: SG&A was still
Financial Health Signals
Scored against emerging 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 Empire Petroleum'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.
Not available for Empire Petroleum, and counted as zero in the overall score.
Empire Petroleum scores -5.46, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($133.5M) relative to total liabilities ($70.5M). 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.
Empire Petroleum passes 2 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
Empire Petroleum reported a net loss of $72.1M while operations used $3.9M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Empire Petroleum reported an operating loss of $71.3M against $1.5M 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
Empire Petroleum generated $34.2M in revenue in fiscal year 2025. This represents a decrease of 21.6% from the prior year.
Empire Petroleum's EBITDA was -$60.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 1276.9% from the prior year.
Empire Petroleum reported -$72.1M in net income in fiscal year 2025. This represents a decrease of 345.0% from the prior year.
Empire Petroleum earned -$2.12 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 292.6% from the prior year.
Cash & Balance Sheet
Empire Petroleum held $1.2M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Not reported for fiscal year 2025.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not reported for fiscal year 2025.
Capital Allocation
None of these metrics is reported for fiscal year 2025.
EP Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $31.1M | $34.2M-21.6% | $43.6M+8.9% | $40.1M-24.2% | $52.9M+95.2% | $27.1M+250.6% | $7.7M+31.9% | $5.9M+1158.8% | $465K | $0 | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $12.4M | $13.4M-9.0% | $14.7M-2.9% | $15.2M+23.1% | $12.3M+45.7% | $8.5M+14.8% | $7.4M+102.9% | $3.6M+196.4% | $1.2M+62.0% | $757K+285.1% | $197K+18.7% | $166K | N/A | $191K-4.0% | $199K-10.4% | $222K |
| Operating Income | -$69.6M | -$71.3M-421.8% | -$13.7M-17.6% | -$11.6M-232.3% | $8.8M+1955.7% | -$473K+97.3% | -$17.6M-185.9% | -$6.2M-571.5% | -$916K-21.0% | -$757K-100.2% | -$378K-116.1% | -$175K | N/A | -$228K+7.2% | -$245K-0.5% | -$244K |
| Interest Expense | $1.7M | $1.5M+2.1% | $1.5M | N/A | N/A | N/A | N/A | -$504K-397.7% | -$101K-238.6% | $73K+1802.5% | $4K | $0 | N/A | $0+100.0% | -$8K-143.6% | -$3K |
| Income Tax | N/A | N/A | N/A | -$132K-163.3% | $209K | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | -$71.3M | -$72.1M-345.0% | -$16.2M-29.9% | -$12.5M-276.0% | $7.1M+138.1% | -$18.6M-10.6% | -$16.8M-153.0% | -$6.7M-554.3% | -$1.0M-22.5% | -$830K-117.3% | -$382K-118.3% | -$175K | N/A | -$228K+10.1% | -$253K-2.4% | -$247K |
| EPS (Diluted) | — | -$2.12-292.6% | -$0.54+1.8% | -$0.55-283.3% | $0.30 | -$1.27 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
EP Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $65.9M-46.8% | $123.9M+33.7% | $92.6M+29.5% | $71.5M+42.8% | $50.1M+345.3% | $11.2M+2.1% | $11.0M+451.5% | $2.0M+428.7% | $378K-1.3% | $383K+91.8% | $200K+243290.2% | $82-100.0% | $229K-29.5% | $324K-0.8% | $327K |
| Current Assets | $8.2M-33.8% | $12.4M-34.1% | $18.7M-17.6% | $22.7M+73.3% | $13.1M+490.2% | $2.2M+30.2% | $1.7M+364.4% | $368K+372.5% | $78K-6.0% | $83K+357.0% | $18K+21979.3% | $82-98.4% | $5K-77.9% | $23K+75.1% | $13K |
| Cash & Equivalents | $1.2M-47.2% | $2.3M-71.1% | $7.8M-34.8% | $11.9M+230.7% | $3.6M+2190.4% | $158K | $0-100.0% | $85K+8.8% | $78K+13.1% | $69K+279.7% | $18K+21979.3% | $82-97.2% | $3K-85.9% | $21K+317.2% | $5K |
| Inventory | $1.3M-3.3% | $1.3M-9.0% | $1.4M-22.1% | $1.8M+77.3% | $1.0M+95.3% | $531K+11.5% | $476K | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $5.1M-37.2% | $8.2M-2.4% | $8.4M+7.4% | $7.8M+0.6% | $7.7M+517.9% | $1.3M | N/A | $125K | $0 | N/A | N/A | $0 | $0-100.0% | $1K-81.0% | $7K |
| Total Liabilities | $70.5M+15.3% | $61.1M+6.0% | $57.7M+19.4% | $48.3M+20.0% | $40.3M+35.6% | $29.7M+86.1% | $16.0M+642.9% | $2.1M+760.4% | $250K+206.8% | $81K+895.3% | $8K+3485.5% | $228-99.8% | $92K+809.2% | $10K-90.9% | $111K |
| Current Liabilities | $24.3M+14.4% | $21.3M-15.1% | $25.0M+42.2% | $17.6M+46.2% | $12.1M+98.5% | $6.1M+171.3% | $2.2M+202.0% | $741K+266.4% | $202K+798.0% | $23K+175.4% | $8K+3485.5% | $228-99.8% | $92K+809.2% | $10K-90.9% | $111K |
| Long-Term Debt | N/A | $11.3M+146.6% | $4.6M+739.3% | $548K-15.3% | $646K+21.0% | $534K-93.1% | $7.7M+556.1% | $1.2M | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | -$4.6M-107.3% | $62.8M+79.6% | $35.0M+50.4% | $23.2M+136.3% | $9.8M+153.3% | -$18.4M-273.4% | -$4.9M-3188.4% | -$150K-217.2% | $128K-57.5% | $301K+57.5% | $191K+131199.3% | -$146-100.1% | $136K-56.6% | $314K+45.9% | $215K |
| Retained Earnings | -$152.9M-89.2% | -$80.8M-25.1% | -$64.6M-23.9% | -$52.1M+12.0% | -$59.2M-45.8% | -$40.6M-70.8% | -$23.8M-38.9% | -$17.1M-6.3% | -$16.1M-5.4% | -$15.3M-2.6% | -$14.9M-1.2% | -$14.7M-1.6% | -$14.5M-1.6% | -$14.3M-1.8% | -$14.0M |
Not reported in any period shown, so not listed: Goodwill.
EP Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$6.1M | -$3.9M-164.1% | $6.2M+162.3% | -$9.9M-154.8% | $18.1M+469.5% | $3.2M+284.0% | -$1.7M-190.9% | -$592K-4.9% | -$565K-139.4% | -$236K-188.2% | -$82K+30.0% | -$117K | N/A | -$155K+11.8% | -$175K+33.6% | -$264K |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -$14K | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -$607K | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | -$5.4M | -$4.6M+91.4% | -$53.9M-264.8% | -$14.8M-29.4% | -$11.4M+53.8% | -$24.7M-2986.5% | $856K+113.9% | -$6.2M-573.6% | -$917K | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Financing Cash Flow | $12.4M | $7.5M-82.2% | $42.2M+105.7% | $20.5M+1113.0% | $1.7M-93.2% | $25.0M+2339.9% | $1.0M-84.7% | $6.7M+348.9% | $1.5M+507.5% | $245K+84.9% | $133K-1.9% | $135K | N/A | $152K-20.6% | $191K-4.5% | $200K |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
EP Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | -208.5% | -31.3%-2.3pp | -29.0%-45.6pp | 16.6%+18.4pp | -1.8% | -227.5% | -105.0% | -196.8% | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | -210.7% | -37.1%-6.0pp | -31.1%-44.5pp | 13.4%+82.1pp | -68.7% | -217.9% | -113.6% | -218.5% | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Equity | N/A | -25.8%+9.9pp | -35.7%-66.2pp | 30.5%+219.8pp | -189.3% | N/A | N/A | N/A | -647.5%-520.8pp | -126.7%-35.3pp | -91.4% | N/A | -167.0%-86.4pp | -80.6%+34.2pp | -114.9% |
| Return on Assets | -109.4%-96.3pp | -13.1%+0.4pp | -13.5%-23.4pp | 9.9%+47.1pp | -37.2%+112.5pp | -149.7%-89.2pp | -60.4%-9.5pp | -50.9%+168.8pp | -219.7%-119.9pp | -99.8%-12.1pp | -87.6% | N/A | -99.7%-21.6pp | -78.1%-2.4pp | -75.7% |
| Current Ratio | 0.34-0.2x | 0.58-0.2x | 0.75-0.5x | 1.29+0.2x | 1.09+0.7x | 0.37-0.4x | 0.76+0.3x | 0.50+0.1x | 0.38-3.3x | 3.67+1.5x | 2.21+1.9x | 0.36+0.3x | 0.06-2.2x | 2.29+2.2x | 0.12 |
| Debt-to-Equity | N/A | 0.180.0x | 0.13+0.1x | 0.020.0x | 0.07 | N/A | N/A | N/A | 1.95+1.7x | 0.27+0.2x | 0.04 | N/A | 0.68+0.6x | 0.03-0.5x | 0.52 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | -10.4% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Gross 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: Operating Margin, Net Margin.
Note: Shareholder equity is negative (-$4.6M), 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 (0.34), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Where Empire Petroleum Ranks
Frequently Asked Questions
What is Empire Petroleum's annual revenue?
Empire Petroleum (EP) reported $34.2M in total revenue for fiscal year 2025. This represents a -21.6% 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 Empire Petroleum's revenue growing?
Empire Petroleum (EP) revenue declined by 21.6% year-over-year, from $43.6M to $34.2M in fiscal year 2025.
Is Empire Petroleum profitable?
No, Empire Petroleum (EP) reported a net income of -$72.1M in fiscal year 2025.
What is Empire Petroleum's EBITDA?
Empire Petroleum (EP) had EBITDA of -$60.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Empire Petroleum's operating cash flow?
Empire Petroleum (EP) recorded an outflow of $3.9M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Empire Petroleum's total assets?
Empire Petroleum (EP) had $65.9M in total assets as of fiscal year 2025, including both current and long-term assets.
What is Empire Petroleum's current ratio?
Empire Petroleum (EP) had a current ratio of 0.34 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Empire Petroleum's return on assets (ROA)?
Empire Petroleum (EP) had a return on assets of -109.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Empire Petroleum's cash runway?
Based on fiscal year 2025 data, Empire Petroleum (EP) had $1.2M in cash against an annual operating cash burn of $3.9M. This gives an estimated cash runway of approximately 4 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
Why is Empire Petroleum's debt-to-equity ratio negative or not reported?
Empire Petroleum (EP) has negative shareholder equity of -$4.6M 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 Empire Petroleum's Altman Z-Score?
Empire Petroleum (EP) has an Altman Z-Score of -5.46, 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 Empire Petroleum's Piotroski F-Score?
Empire Petroleum (EP) has a Piotroski F-Score of 2 out of 7 computable signals; 2 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 Empire Petroleum's earnings high quality?
Empire Petroleum (EP) reported a net loss of $72.1M while operations used $3.9M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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 Empire Petroleum cover its interest payments?
Empire Petroleum (EP) reported an operating loss of $71.3M against $1.5M 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 Empire Petroleum?
Empire Petroleum (EP) scores 28 out of 100 on our Financial Health Score, indicating weak standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), 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.