Empire Petroleum Corporation (EP) 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 Oct 9, 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 14, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the EP SEC filings page.
Empire Petroleum Corporation (EP) reported $31.1M in revenue over the twelve months to Jun 30, 2026, down 20.8% 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).
The business moved from operating profitability to severe losses, while shrinking assets and negative equity materially weakened its financial structure.
Cash conversion reversed with profitability: in FY2022, a16.6% operating margin accompanied operating cash flow of$18.1M . By FY2025, the operating margin had fallen to-208.5% and operating cash flow was-$3.9M , showing that reported operations were no longer funding themselves.
The balance sheet contracted sharply: assets fell from
Short-term flexibility also deteriorated, with the current ratio declining from 0.6x in FY2024 to 0.3x in FY2025. Financing provided
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 Empire Petroleum 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.
Empire Petroleum Corporation's reported operating margin for fiscal year 2025 is below the lowest share of revenue this page publishes, so the figure is not shown here. This dimension scores 10/100.
Empire Petroleum Corporation's revenue declined 21.6% year-over-year, from $43.6M to $34.2M. This contraction results in a growth score of 20/100.
Empire Petroleum Corporation's current ratio of 0.34 is below the typical benchmark, resulting in a score of 3/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Not available for Empire Petroleum Corporation, and counted as zero in the overall score.
Empire Petroleum Corporation scores -5.48, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($131.0M) 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 Corporation 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 Corporation 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 Corporation 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 Corporation generated $9.5M in revenue in Q2 2026. This represents an increase of 8.6% from the same quarter a year earlier. Against the prior quarter it is up 86.3%.
Empire Petroleum Corporation's EBITDA was -$98K in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 95.8% from the same quarter a year earlier. Against the prior quarter it is up 97.6%.
Empire Petroleum Corporation reported -$1.9M in net income in Q2 2026. This represents an increase of 63.3% from the same quarter a year earlier. Against the prior quarter it is up 72.0%.
Empire Petroleum Corporation earned -$0.05 per diluted share (EPS) in Q2 2026. This represents an increase of 66.7% from the same quarter a year earlier. Against the prior quarter it is up 72.2%.
Cash & Balance Sheet
Empire Petroleum Corporation held $3.1M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Empire Petroleum Corporation's operating margin was -16.2% in Q2 2026, reflecting core business profitability. This is up 39.8 percentage points from the same quarter a year earlier.
Empire Petroleum Corporation's net profit margin was -19.6% in Q2 2026, showing the share of revenue converted to profit. This is up 38.2 percentage points from the same quarter a year earlier.
Empire Petroleum Corporation's ROE was -25.4% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 16.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 154.7 percentage points.
Not reported for Q2 2026.
Capital Allocation
None of these metrics is reported for Q2 2026.
EP 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-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $9.5M+8.6% | $5.1M-43.3% | $7.1M-30.0% | $9.4M-17.5% | $8.8M-31.6% | $9.0M-4.1% | $10.1M-9.7% | $11.4M+24.4% |
| SG&A Expenses | $3.1M-9.0% | $3.1M-17.8% | $3.2M-24.9% | $3.1M-21.5% | $3.4M+15.1% | $3.7M+3.9% | $4.2M-21.5% | $4.0M+45.0% |
| Operating Income | -$1.5M+68.5% | -$5.6M-41.1% | -$58.9M-1400.8% | -$3.5M-3.8% | -$4.9M-154.6% | -$4.0M+10.0% | -$3.9M+12.1% | -$3.4M-29.8% |
| EBITDA | -$98K+95.8% | -$4.2M-140.7% | -$55.9M-4026.1% | -$755K+8.2% | -$2.3M-445.3% | -$1.7M+40.5% | -$1.4M+58.5% | -$822K+58.0% |
| Interest Expense | $329K-1.5% | $480K+62.2% | $529K | $388K+98.0% | $334K | $296K | N/A | $196K |
| Net Income | -$1.9M+63.3% | -$6.6M-57.4% | -$59.0M-1306.0% | -$3.8M-5.6% | -$5.1M-15.2% | -$4.2M-6.2% | -$4.2M+12.6% | -$3.6M-32.5% |
| EPS (Basic) | -$0.05+66.7% | -$0.18-50.0% | -$1.73-1230.8% | -$0.11+8.3% | -$0.150.0% | -$0.12+20.0% | -$0.13+38.1% | -$0.120.0% |
| EPS (Diluted) | -$0.05+66.7% | -$0.18-50.0% | -$1.73-1230.8% | -$0.11+8.3% | -$0.150.0% | -$0.12+20.0% | -$0.13+38.1% | -$0.120.0% |
| Diluted Shares (Avg) | 41M+21.9% | 36M+6.5% | N/A | 34M+7.7% | 34M-99.9% | 34M+31.7% | N/A | 32M+39.1% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Income Tax.
EP 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-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $81.1M-35.0% | $78.0M-36.9% | $65.9M-46.8% | $123.0M+1.4% | $124.7M+3.9% | $123.7M+23.6% | $123.9M+33.7% | $121.2M+59.0% |
| Current Assets | $12.0M-17.4% | $17.3M+49.6% | $8.2M-33.8% | $14.7M+25.2% | $14.5M-28.4% | $11.6M-16.4% | $12.4M-34.1% | $11.7M-42.5% |
| Cash & Equivalents | $3.1M+36.2% | $8.8M+712.7% | $1.2M-47.2% | $4.6M+46.1% | $2.3M-75.2% | $1.1M-69.0% | $2.3M-71.1% | $3.1M-71.5% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $1.4M+6.4% | $1.5M-3.5% | $1.3M-3.3% | $1.2M-18.8% | $1.3M-10.2% | $1.5M-16.3% | $1.3M-9.0% | $1.5M-4.2% |
| Accounts Receivable | $6.7M-34.6% | $6.0M-24.4% | $5.1M-37.2% | $8.3M+28.1% | $10.2M+15.8% | $7.9M+8.0% | $8.2M-2.4% | $6.5M-10.0% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $73.8M+5.1% | $74.3M+15.0% | $70.5M+15.3% | $69.3M+7.1% | $70.2M+14.5% | $64.6M-5.5% | $61.1M+6.0% | $64.7M+12.7% |
| Current Liabilities | $28.3M+8.3% | $29.3M+21.9% | $24.3M+14.4% | $23.3M-13.6% | $26.2M+10.1% | $24.0M-11.2% | $21.3M-15.1% | $27.0M+43.1% |
| Non-Current Liabilities | $45.4M+3.3% | $45.0M+11.0% | $46.1M+15.8% | $46.0M+22.0% | $44.0M+17.3% | $40.6M-1.8% | $39.8M+22.2% | $37.7M-2.2% |
| Long-Term Debt | N/A | N/A | N/A | $15.2M+78.7% | $14.6M+71.6% | $11.6M+35.4% | $11.3M+146.6% | $8.5M+7206.0% |
| Total Equity | $7.3M-86.6% | $3.7M-93.8% | -$4.6M-107.3% | $53.7M-5.1% | $54.5M-7.1% | $59.1M+86.4% | $62.8M+79.6% | $56.5M+200.2% |
| Retained Earnings | -$161.4M-79.1% | -$159.5M-87.6% | -$152.9M-89.2% | -$93.9M-22.6% | -$90.1M-23.4% | -$85.0M-24.0% | -$80.8M-25.1% | -$76.6M-28.1% |
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. 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-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$2.8M+12.3% | -$970K-160.1% | -$2.8M+68.6% | $330K-97.4% | -$3.1M-74.0% | $1.6M-58.7% | -$8.8M-122.9% | $12.8M+531.9% |
| Depreciation & Amortization | $1.4M-43.9% | $1.4M-36.3% | $3.0M+20.3% | $2.8M+7.6% | $2.6M-0.9% | $2.2M+49.4% | $2.5M+140.9% | $2.6M+283.5% |
| Stock-Based Compensation | $208K-57.2% | $189K-64.4% | N/A | $238K-29.0% | $486K | $531K-25.2% | N/A | $335K |
| Investing Cash Flow | -$2.7M-497.6% | -$1.3M+53.2% | -$1.2M+73.3% | -$172K+99.1% | -$450K+96.6% | -$2.8M+83.8% | -$4.6M+50.3% | -$18.8M-352.8% |
| Financing Cash Flow | -$219K-104.6% | $9.9M+47042.9% | $568K-95.4% | $2.1M+1452.2% | $4.8M-77.1% | -$21K-100.2% | $12.5M+25.4% | -$159K-101.3% |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Dividends Paid, Share Buybacks.
EP 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-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | -16.2%+39.8pp | -109.4% | -834.5% | -37.8%-7.8pp | -56.0%-41.0pp | -44.0%+2.9pp | -38.9%+1.1pp | -30.0%-1.2pp |
| Net Margin | -19.6%+38.2pp | -130.2% | -835.1% | -40.9%-8.9pp | -57.8%-23.5pp | -46.9%-4.5pp | -41.6%+1.4pp | -32.0%-2.0pp |
| Return on Equity | -25.4%-16.1pp | -180.1%-172.9pp | N/A | -7.2%-0.7pp | -9.3%-1.8pp | -7.1%+5.4pp | -6.7%+7.0pp | -6.4%+8.2pp |
| Return on Assets | -2.3%+1.8pp | -8.5%-5.1pp | -89.5%-86.1pp | -3.1%-0.1pp | -4.1%-0.4pp | -3.4%+0.6pp | -3.4%+1.8pp | -3.0%+0.6pp |
| Current Ratio | 0.42-0.1x | 0.59+0.1x | 0.34-0.2x | 0.63+0.2x | 0.55-0.3x | 0.480.0x | 0.58-0.2x | 0.43-0.6x |
| Debt-to-Equity | 10.08+9.8x | 20.14+19.9x | N/A | 0.28+0.1x | 0.27+0.1x | 0.20-0.1x | 0.180.0x | 0.15+0.1x |
| Asset Turnover | 0.120.0x | 0.070.0x | 0.110.0x | 0.080.0x | 0.070.0x | 0.070.0x | 0.080.0x | 0.090.0x |
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: 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.
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 |
|---|---|---|---|---|---|---|
| Empire Petroleum Corporation EP | FY2025 | $34.2M | -$72.1M | N/A | $131.0M | 19/100 |
| Amplify Energy Corp. AMPY | FY2025 | $263.4M | $44.0M | 16.7% | $189.9M | 53/100 |
| Gran Tierra Energy Inc. GTE | FY2025 | $596.7M | -$193.1M | -32.4% | $371.1M | 12/100 |
| Epsilon Energy Ltd. EPSN | FY2025 | $51.6M | -$5.8M | -11.2% | $183.8M | 39/100 |
| Kolibri Global Energy Inc. KGEI | FY2025 | $57.4M | $15.5M | 27.0% | $232.1M | 28/100 |
| Prairie Operating Co. PROP | FY2025 | $241.6M | $32.1M | 13.3% | $45.8M | 24/100 |
Where Empire Petroleum Corporation Ranks
Frequently Asked Questions
What is Empire Petroleum Corporation's annual revenue?
Empire Petroleum Corporation (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 Corporation's revenue growing?
Empire Petroleum Corporation (EP) revenue declined by 21.6% year-over-year, from $43.6M to $34.2M in fiscal year 2025.
Is Empire Petroleum Corporation profitable?
No, Empire Petroleum Corporation (EP) reported a net income of -$72.1M in fiscal year 2025.
What is Empire Petroleum Corporation's EBITDA?
Empire Petroleum Corporation (EP) had EBITDA of -$60.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Empire Petroleum Corporation's operating cash flow?
Empire Petroleum Corporation (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 Corporation's total assets?
Empire Petroleum Corporation (EP) had $65.9M in total assets as of fiscal year 2025, including both current and long-term assets.
What is Empire Petroleum Corporation's current ratio?
Empire Petroleum Corporation (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 Corporation's return on assets (ROA)?
Empire Petroleum Corporation (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 Corporation's P/E ratio?
Empire Petroleum Corporation (EP) 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 $131.0M as of Oct 9, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Empire Petroleum Corporation's price-to-sales ratio?
Empire Petroleum Corporation (EP) trades at 4.2x sales, its market capitalization divided by revenue of $31.1M revenue, trailing 12 months to June 30, 2026. The market capitalization is $131.0M as of Oct 9, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Empire Petroleum Corporation's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Empire Petroleum Corporation (EP) held $1.2M in cash, cash equivalents and investments, and reported an operating cash outflow of $3.9M over that year. Dividing the one by the other, the reported balance equals about 4 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
Why is Empire Petroleum Corporation's debt-to-equity ratio negative or not reported?
Empire Petroleum Corporation (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 Corporation's Altman Z-Score?
Empire Petroleum Corporation (EP) has an Altman Z-Score of -5.48, 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 Corporation's Piotroski F-Score?
Empire Petroleum Corporation (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 Corporation's earnings high quality?
Empire Petroleum Corporation (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 Corporation cover its interest payments?
Empire Petroleum Corporation (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 Corporation?
Empire Petroleum Corporation (EP) scores 19 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.