Phoenix Energy One, LLC (PHXE-P) Financials

PHXE-P

Trailing 12 months to June 30, 2026

Revenue $1.1B +152.6% YoY

Net Income $7.7M +1669.9% YoY

Operating Cash Flow $477.8M +177.3% YoY

Gross Profit $911.5M +170.5% YoY

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

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

Phoenix Energy One, LLC (PHXE-P) reported $1.1B in revenue over the twelve months to Jun 30, 2026, up 152.6% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 3 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 PHXE-P FY2025 2026-08-30

Rapid scale is paired with heavy leverage: operating cash generation improves, but investment remains financed through borrowing and capital inflows.

Revenue expanded 2.4x from FY2024 to FY2025 while operating margin stayed near 25.5%, pointing to scale without evident operating leverage. Gross margin settled at 77.4%, down from 83.3%, suggesting growth came with a less favorable revenue-cost mix rather than margin expansion.

Equity moved from a deficit of -$34M in FY2024 to a surplus of $78M in FY2025, changing the capital structure from deficit to surplus. Yet the current ratio fell from 0.7x to 0.4x, indicating current assets became less able to match near-term liabilities.

Operating cash flow reached $301M, or 4.6x net income, reflecting substantial non-cash expense effects beyond reported profit. Investing cash flow was -$843M while financing cash flow was $487M, so expansion relied materially on external financing beyond internally generated cash.

Financial Health Signals

Financial health score not available

Phoenix Energy One, LLC does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial

7/8

Phoenix Energy One, LLC passes 7 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 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed

4.55x

For every $1 of reported earnings, Phoenix Energy One, LLC generates $4.55 in operating cash flow ($301.1M OCF vs $66.1M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage At Risk

1.09x

Phoenix Energy One, LLC earns $1.09 in operating income for every $1 of interest expense ($175.6M vs $161.2M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue

$405.9M

YoY+147.7%

QoQ+35.9%

Phoenix Energy One, LLC generated $405.9M in revenue in Q2 2026. This represents an increase of 147.7% from the same quarter a year earlier. Against the prior quarter it is up 35.9%.

EBITDA

$237.8M

YoY+185.4%

QoQ+56.4%

Phoenix Energy One, LLC's EBITDA was $237.8M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 185.4% from the same quarter a year earlier. Against the prior quarter it is up 56.4%.

Net Income

$106.0M

YoY+466.8%

QoQ+175.6%

Phoenix Energy One, LLC reported $106.0M in net income in Q2 2026. This represents an increase of 466.8% from the same quarter a year earlier. Against the prior quarter it is up 175.6%.

EPS (Diluted)

Not reported for Q2 2026.

Cash & Balance Sheet

Cash & Debt

$37.0M

YoY-38.8%

QoQ-47.2%

Phoenix Energy One, LLC held $37.0M in cash against $1.5B in long-term debt as of Q2 2026.

Shares Outstanding

100M

QoQ0.0%

Phoenix Energy One, LLC had 100M shares outstanding in Q2 2026. It is unchanged from the prior quarter.

Free Cash Flow

Not reported for Q2 2026.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Gross Margin

87.3%

YoY+8.8pp

QoQ+6.1pp

Phoenix Energy One, LLC's gross margin was 87.3% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 8.8 percentage points from the same quarter a year earlier. Against the prior quarter it is up 6.1 percentage points.

Operating Margin

40.3%

YoY+11.8pp

QoQ+9.5pp

Phoenix Energy One, LLC's operating margin was 40.3% in Q2 2026, reflecting core business profitability. This is up 11.8 percentage points from the same quarter a year earlier. Against the prior quarter it is up 9.5 percentage points.

Net Margin

26.1%

YoY+14.7pp

QoQ+73.0pp

Phoenix Energy One, LLC's net profit margin was 26.1% in Q2 2026, showing the share of revenue converted to profit. This is up 14.7 percentage points from the same quarter a year earlier. Against the prior quarter it is up 73.0 percentage points.

Return on Equity

260.5%

Phoenix Energy One, LLC's ROE was 260.5% in Q2 2026, measuring profit generated per dollar of shareholder equity.

Capital Allocation

None of these metrics is reported for Q2 2026.

PHXE-P 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.

PHXE-P quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K
Revenue	$1.1B	$687.2M+144.4%	$281.2M+138.1%	$118.1M
Cost of Revenue	$200.6M	$155.2M+142.7%	$63.9M+224.1%	$19.7M
Gross Profit	$911.5M	$532.0M+144.8%	$217.3M+120.9%	$98.4M
SG&A Expenses	$17.3M	$26.0M-10.7%	$29.2M+103.8%	$14.3M
Operating Income	$345.1M	$175.6M+142.5%	$72.4M+126.3%	$32.0M
EBITDA	N/A	$353.5M+123.2%	$158.4M+139.2%	$66.2M
Interest Expense	$199.2M	$161.2M+78.7%	$90.2M+88.4%	$47.9M
Net Income	$7.7M	$66.1M+366.6%	-$24.8M-53.1%	-$16.2M

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	$405.9M+147.7%	$298.7M+158.0%	$218.6M+115.0%	$189.0M+220.2%	$163.8M+105.2%	$115.7M+184.5%	$101.7M	$59.0M
Cost of Revenue	$51.6M+46.7%	$56.1M+107.1%	$50.0M+111.9%	$42.9M+146.6%	$35.2M+135.3%	$27.1M+239.3%	$23.6M	$17.4M
Gross Profit	$354.3M+175.3%	$242.6M+173.6%	$168.5M+115.9%	$146.1M+250.9%	$128.7M+98.3%	$88.7M+171.2%	$78.1M	$41.6M
SG&A Expenses	$2.8M-56.7%	$4.3M-54.3%	$4.6M-35.2%	$5.5M-38.0%	$6.4M-18.8%	$9.5M+81.2%	$7.1M	$8.9M
Operating Income	$163.5M+250.2%	$91.8M+134.5%	$43.4M+69.4%	$46.3M+302.2%	$46.7M+75.5%	$39.2M+353.4%	$25.7M	$11.5M
EBITDA	$237.8M+185.4%	$152.1M+116.1%	$108.0M+85.2%	$91.8M+239.5%	$83.3M+63.5%	$70.4M+219.3%	$58.3M	$27.0M
Interest Expense	$58.3M+57.5%	$52.5M+46.5%	$49.5M+70.2%	$38.8M+48.1%	$37.0M+105.8%	$35.8M+111.9%	$29.1M	$26.2M
Net Income	$106.0M+466.8%	-$140.1M-2602.6%	$33.3M+346.9%	$8.5M+175.2%	$18.7M+122.6%	$5.6M+166.6%	-$13.5M	-$11.3M

Not reported in any period shown, so not listed: R&D Expenses, Income Tax, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).

PHXE-P Balance Sheet

PHXE-P quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K
Total Assets	$1.8B+75.6%	$1.0B	N/A
Current Assets	$173.6M+10.8%	$156.7M	N/A
Cash & Equivalents	$65.8M-45.5%	$120.8M+2125.8%	$5.4M
Short-Term Investments	$0	$0	$0
Inventory	$0	N/A	N/A
Long-Term Investments	$0	$0	$0
Total Liabilities	$1.7B+62.6%	$1.1B	N/A
Current Liabilities	$418.4M+84.6%	$226.6M	N/A
Non-Current Liabilities	$1.3B+56.6%	$836.5M	N/A
Long-Term Debt	$1.2B+55.4%	$795.2M	N/A
Total Equity	$78.2M+329.6%	-$34.1M-604.6%	-$4.8M
Retained Earnings	$29.7M+186.0%	-$34.5M	N/A

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	$2.2B+62.0%	$2.0B+74.3%	$1.8B+75.6%	$1.6B	$1.4B	$1.1B	$1.0B	N/A
Current Assets	$173.6M+11.0%	$181.7M+79.3%	$173.6M+10.8%	$178.9M	$156.4M	$101.3M	$156.7M	N/A
Cash & Equivalents	$37.0M-38.8%	$70.2M+98.4%	$65.8M-45.5%	$95.5M+289.2%	$60.5M+1383.0%	$35.4M+1335.3%	$120.8M	$24.5M
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$2.1M	$1.3M	$0	N/A	N/A	N/A	N/A	N/A
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$2.2B+57.9%	$2.0B+75.5%	$1.7B+62.6%	$1.6B	$1.4B	$1.2B	$1.1B	N/A
Current Liabilities	$584.8M+61.6%	$539.8M+108.7%	$418.4M+84.6%	$400.9M	$362.0M	$258.6M	$226.6M	N/A
Non-Current Liabilities	$1.6B+56.7%	$1.5B+66.0%	$1.3B+56.6%	$1.2B	$1.0B	$904.5M	$836.5M	N/A
Long-Term Debt	$1.5B+53.8%	$1.4B+63.3%	$1.2B+55.4%	$1.1B	$960.3M	$853.5M	$795.2M	N/A
Total Equity	$40.7M+516.8%	-$63.6M-123.5%	$78.2M+329.6%	$46.6M+326.8%	-$9.8M-116.1%	-$28.5M-120.4%	-$34.1M	-$20.6M
Retained Earnings	-$8.2M+19.6%	-$112.3M-288.7%	$29.7M+186.0%	-$1.7M	-$10.2M	-$28.9M	-$34.5M	N/A

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

PHXE-P Cash Flow Statement

PHXE-P quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K
Operating Cash Flow	$477.8M	$301.1M+197.6%	$101.2M+9989.9%	-$1.0M
Depreciation & Amortization	N/A	$177.9M+106.9%	$86.0M+151.2%	$34.2M
Stock-Based Compensation	N/A	$149K	$0	$0
Investing Cash Flow	-$1.0B	-$843.5M-92.7%	-$437.7M-57.1%	-$278.7M
Financing Cash Flow	$525.1M	$487.4M+7.8%	$451.9M+61.1%	$280.5M

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	$173.5M+110.4%	$103.8M+473.4%	$110.5M+81.2%	$90.0M+735.3%	$82.5M+353.4%	$18.1M+60.9%	$61.0M	$10.8M
Depreciation & Amortization	$74.3M+102.8%	$60.2M+93.0%	$64.5M+97.5%	$45.5M+193.1%	$36.6M+50.3%	$31.2M+132.9%	$32.7M	$15.5M
Stock-Based Compensation	N/A	$68K	N/A	N/A	N/A	$0	N/A	N/A
Investing Cash Flow	-$294.2M-75.5%	-$238.6M-30.8%	-$237.5M-45.2%	-$256.0M-171.2%	-$167.6M-83.8%	-$182.4M-105.9%	-$163.6M	-$94.4M
Financing Cash Flow	$87.6M-20.6%	$139.2M+76.6%	$97.3M-51.1%	$200.9M+93.1%	$110.3M+47.8%	$78.8M+6.0%	$198.9M	$104.1M

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

PHXE-P 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.

PHXE-P quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K
Gross Margin	77.4%+0.2pp	77.3%-6.0pp	83.3%
Operating Margin	25.6%-0.2pp	25.7%-1.3pp	27.1%
Net Margin	9.6%+18.4pp	-8.8%+4.9pp	-13.7%
Return on Equity	84.5%	N/A	N/A
Return on Assets	3.7%+6.1pp	-2.4%	N/A
Current Ratio	0.41-0.3x	0.69	N/A
Debt-to-Equity	15.80	N/A	N/A
Asset Turnover	0.38+0.1x	0.27	N/A

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
Gross Margin	87.3%+8.8pp	81.2%+4.6pp	77.1%+0.3pp	77.3%+6.8pp	78.5%-2.7pp	76.6%-3.8pp	76.8%	70.5%
Operating Margin	40.3%+11.8pp	30.8%-3.1pp	19.9%-5.4pp	24.5%+5.0pp	28.5%-4.8pp	33.8%+12.6pp	25.2%	19.5%
Net Margin	26.1%+14.7pp	-46.9%-51.8pp	15.3%+28.5pp	4.5%+23.6pp	11.4%+0.9pp	4.8%+25.5pp	-13.3%	-19.1%
Return on Equity	260.5%	N/A	42.6%	18.2%	N/A	N/A	N/A	N/A
Return on Assets	4.8%+3.4pp	-7.1%-7.6pp	1.8%+3.1pp	0.5%	1.4%	0.5%	-1.3%	N/A
Current Ratio	0.30-0.1x	0.34-0.1x	0.41-0.3x	0.45	0.43	0.39	0.69	N/A
Debt-to-Equity	36.30	N/A	15.80	24.18	N/A	N/A	N/A	N/A
Asset Turnover	0.18+0.1x	0.150.0x	0.120.0x	0.12	0.12	0.10	0.10	N/A

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

Note: The current ratio is below 1.0 (0.41), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Where Phoenix Energy One, LLC Ranks

Frequently Asked Questions

What is Phoenix Energy One, LLC's annual revenue?

Phoenix Energy One, LLC (PHXE-P) reported $687.2M in total revenue for fiscal year 2025. This represents a 144.4% 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 Phoenix Energy One, LLC's revenue growing?

Phoenix Energy One, LLC (PHXE-P) revenue grew by 144.4% year-over-year, from $281.2M to $687.2M in fiscal year 2025.

Is Phoenix Energy One, LLC profitable?

Yes, Phoenix Energy One, LLC (PHXE-P) reported a net income of $66.1M in fiscal year 2025, with a net profit margin of 9.6%.

What is Phoenix Energy One, LLC's EBITDA?

Phoenix Energy One, LLC (PHXE-P) had EBITDA of $353.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Phoenix Energy One, LLC have?

As of fiscal year 2025, Phoenix Energy One, LLC (PHXE-P) had $65.8M in cash and equivalents against $1.2B in long-term debt.

What is Phoenix Energy One, LLC's gross margin?

Phoenix Energy One, LLC (PHXE-P) had a gross margin of 77.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Phoenix Energy One, LLC's operating margin?

Phoenix Energy One, LLC (PHXE-P) had an operating margin of 25.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Phoenix Energy One, LLC's net profit margin?

Phoenix Energy One, LLC (PHXE-P) had a net profit margin of 9.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Phoenix Energy One, LLC's return on equity (ROE)?

Phoenix Energy One, LLC (PHXE-P) has a return on equity of 84.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Phoenix Energy One, LLC's operating cash flow?

Phoenix Energy One, LLC (PHXE-P) generated $301.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Phoenix Energy One, LLC's total assets?

Phoenix Energy One, LLC (PHXE-P) had $1.8B in total assets as of fiscal year 2025, including both current and long-term assets.

How many shares does Phoenix Energy One, LLC have outstanding?

Phoenix Energy One, LLC (PHXE-P) had 100M shares outstanding as of fiscal year 2025.

What is Phoenix Energy One, LLC's current ratio?

Phoenix Energy One, LLC (PHXE-P) had a current ratio of 0.41 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is Phoenix Energy One, LLC's debt-to-equity ratio?

Phoenix Energy One, LLC (PHXE-P) had a debt-to-equity ratio of 15.80 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Phoenix Energy One, LLC's return on assets (ROA)?

Phoenix Energy One, LLC (PHXE-P) had a return on assets of 3.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Phoenix Energy One, LLC's Piotroski F-Score?

Phoenix Energy One, LLC (PHXE-P) has a Piotroski F-Score of 7 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 Phoenix Energy One, LLC's earnings high quality?

Phoenix Energy One, LLC (PHXE-P) has an earnings quality ratio of 4.55x, 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 Phoenix Energy One, LLC cover its interest payments?

Phoenix Energy One, LLC (PHXE-P) has an interest coverage ratio of 1.09x, meaning it can struggle to cover its interest obligations. 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.