Ring Energy Financials
This page shows Ring Energy (REI) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 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).
A depreciation-heavy cash engine masked a sharp earnings reset, while investing needs still outran internally generated cash.
FY2025 exposed a cash-profit split: the company posted a-$34.7M net loss but still produced operating cash flow of$150.8M , so reported earnings weakened much faster than cash generation. That gap is heavily shaped by$96.4M of depreciation and amortization, yet asset upkeep and reinvestment still absorbed more cash than operations supplied, with investing outflow at-$179.5M .
The balance sheet did not weaken in step with earnings: debt-to-equity sits at 0.7x after running near 0.9x in the earlier high-profit period, so leverage has been worked down even as margins rolled over. But liquidity remains tight; the current ratio is 0.6x and has stayed below 1.0x throughout the period, meaning near-term obligations still exceed near-term assets.
This was more than a sales slowdown. Revenue fell only
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 Ring Energy'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.
Ring Energy scores 0.44, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($284.3M) relative to total liabilities ($569.9M). 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.
Ring Energy passes 3 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Ring Energy generates $-4.34 in operating cash flow ($150.8M OCF vs -$34.7M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Ring Energy earns $-0.8 in operating income for every $1 of interest expense (-$34.3M vs $40.4M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Ring Energy generated $307.2M in revenue in fiscal year 2025. This represents a decrease of 16.1% from the prior year.
Ring Energy's EBITDA was $62.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 73.2% from the prior year.
Ring Energy reported -$34.7M in net income in fiscal year 2025. This represents a decrease of 151.5% from the prior year.
Ring Energy earned $-0.17 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 150.0% from the prior year.
Cash & Balance Sheet
Ring Energy held $903K in cash against $0 in long-term debt as of fiscal year 2025.
Ring Energy had 208M shares outstanding in fiscal year 2025. This represents an increase of 4.6% from the prior year.
Margins & Returns
Ring Energy's operating margin was -11.2% in fiscal year 2025, reflecting core business profitability. This is down 47.5 percentage points from the prior year.
Ring Energy's net profit margin was -11.3% in fiscal year 2025, showing the share of revenue converted to profit. This is down 29.7 percentage points from the prior year.
Ring Energy's ROE was -4.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 11.9 percentage points from the prior year.
Capital Allocation
REI Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $73.7M+10.2% | $66.9M-14.9% | $78.6M-4.8% | $82.6M+4.4% | $79.1M-5.2% | $83.4M-6.5% | $89.2M-10.0% | $99.1M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $7.4M-7.4% | $8.0M-1.3% | $8.1M+14.0% | $7.1M-17.2% | $8.6M+7.3% | $8.0M+25.1% | $6.4M-16.7% | $7.7M |
| Operating Income | -$141.8M-463.6% | -$25.2M+54.2% | -$55.0M-334.3% | $23.5M+5.0% | $22.4M-5.4% | $23.6M-20.9% | $29.8M-28.6% | $41.8M |
| Interest Expense | $8.6M-5.7% | $9.1M-9.3% | $10.1M-14.5% | $11.8M+23.8% | $9.5M-6.1% | $10.1M-6.0% | $10.8M-1.8% | $10.9M |
| Income Tax | -$12.0M-215.5% | -$3.8M+70.3% | -$12.8M-309.6% | $6.1M+100.8% | $3.0M+68.6% | $1.8M-82.1% | $10.1M+47.9% | $6.8M |
| Net Income | -$220.6M-1617.3% | -$12.8M+75.1% | -$51.6M-350.2% | $20.6M+126.5% | $9.1M+61.0% | $5.7M-83.3% | $33.9M+51.1% | $22.4M |
| EPS (Diluted) | $-1.06 | N/A | $-0.25-350.0% | $0.10+100.0% | $0.05 | N/A | $0.17+54.5% | $0.11 |
REI Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.3B-11.1% | $1.4B-1.6% | $1.4B-5.4% | $1.5B+0.7% | $1.5B+6.9% | $1.4B+0.6% | $1.4B+0.7% | $1.4B |
| Current Assets | $59.3M-4.5% | $62.1M+11.2% | $55.8M-10.6% | $62.4M+28.3% | $48.7M-3.5% | $50.4M-4.5% | $52.8M-6.1% | $56.2M |
| Cash & Equivalents | $1.0M+15.3% | $903K+214.7% | $287K | $0-100.0% | $1.1M-41.0% | $1.9M | $0-100.0% | $1.2M |
| Inventory | $6.1M+15.7% | $5.3M+6.6% | $5.0M-7.4% | $5.4M+63.1% | $3.3M-18.5% | $4.0M-12.5% | $4.6M-19.9% | $5.8M |
| Accounts Receivable | $45.7M+47.8% | $30.9M-10.3% | $34.5M-10.9% | $38.7M+8.5% | $35.7M-1.4% | $36.2M-0.6% | $36.4M-12.5% | $41.6M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $632.7M+11.0% | $569.9M-2.9% | $587.0M-5.1% | $618.4M-1.8% | $629.6M+14.6% | $549.5M+0.2% | $548.5M-4.2% | $572.3M |
| Current Liabilities | $147.9M+57.8% | $93.7M-7.8% | $101.6M+3.4% | $98.3M-5.2% | $103.7M-1.2% | $105.0M+7.6% | $97.6M-12.4% | $111.4M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $622.0M-26.1% | $842.0M-0.7% | $847.7M-5.6% | $897.9M+1.8% | $881.7M+2.0% | $864.4M+1.5% | $851.3M+4.1% | $817.4M |
| Retained Earnings | -$191.6M-760.1% | $29.0M-19.7% | $36.1M-58.8% | $87.8M+30.7% | $67.1M+15.7% | $58.0M+10.8% | $52.4M+183.3% | $18.5M |
REI Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $25.9M-42.1% | $44.7M+0.4% | $44.5M+33.6% | $33.3M+17.4% | $28.4M-40.0% | $47.3M-7.9% | $51.3M+1.4% | $50.6M |
| Capital Expenditures | $78.7M | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | -$52.8M | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | -$31.0M+12.0% | -$35.3M-51.6% | -$23.3M-26.7% | -$18.4M+82.1% | -$102.6M-172.3% | -$37.7M-2.4% | -$36.8M+0.2% | -$36.9M |
| Financing Cash Flow | $5.3M+159.8% | -$8.8M+58.0% | -$20.9M-30.6% | -$16.0M-121.8% | $73.5M+1051.1% | -$7.7M+50.9% | -$15.7M-12.6% | -$14.0M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
REI Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | -192.5%-154.9pp | -37.6%+32.3pp | -70.0%-98.4pp | 28.4%+0.2pp | 28.3%-0.0pp | 28.3%-5.1pp | 33.4%-8.7pp | 42.2% |
| Net Margin | -299.4%-280.2pp | -19.2%+46.5pp | -65.7%-90.7pp | 25.0%+13.5pp | 11.5%+4.7pp | 6.8%-31.2pp | 38.0%+15.3pp | 22.6% |
| Return on Equity | -35.5%-33.9pp | -1.5%+4.6pp | -6.1%-8.4pp | 2.3%+1.3pp | 1.0%+0.4pp | 0.7%-3.3pp | 4.0%+1.2pp | 2.7% |
| Return on Assets | -17.6%-16.7pp | -0.9%+2.7pp | -3.6%-5.0pp | 1.4%+0.7pp | 0.6%+0.2pp | 0.4%-2.0pp | 2.4%+0.8pp | 1.6% |
| Current Ratio | 0.40-0.3 | 0.66+0.1 | 0.55-0.1 | 0.63+0.2 | 0.47-0.0 | 0.48-0.1 | 0.54+0.0 | 0.50 |
| Debt-to-Equity | 1.02+0.3 | 0.68-0.0 | 0.690.0 | 0.69-0.0 | 0.71+0.1 | 0.640.0 | 0.64-0.1 | 0.70 |
| FCF Margin | -71.7% | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Note: The current ratio is below 1.0 (0.66), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Frequently Asked Questions
What is Ring Energy's annual revenue?
Ring Energy (REI) reported $307.2M in total revenue for fiscal year 2025. This represents a -16.1% 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 Ring Energy's revenue growing?
Ring Energy (REI) revenue declined by 16.1% year-over-year, from $366.3M to $307.2M in fiscal year 2025.
Is Ring Energy profitable?
No, Ring Energy (REI) reported a net income of -$34.7M in fiscal year 2025, with a net profit margin of -11.3%.
What is Ring Energy's EBITDA?
Ring Energy (REI) had EBITDA of $62.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Ring Energy's operating margin?
Ring Energy (REI) had an operating margin of -11.2% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Ring Energy's net profit margin?
Ring Energy (REI) had a net profit margin of -11.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Ring Energy's return on equity (ROE)?
Ring Energy (REI) has a return on equity of -4.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Ring Energy's operating cash flow?
Ring Energy (REI) generated $150.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Ring Energy's total assets?
Ring Energy (REI) had $1.4B in total assets as of fiscal year 2025, including both current and long-term assets.
What is Ring Energy's current ratio?
Ring Energy (REI) had a current ratio of 0.66 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Ring Energy's debt-to-equity ratio?
Ring Energy (REI) had a debt-to-equity ratio of 0.68 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Ring Energy's return on assets (ROA)?
Ring Energy (REI) had a return on assets of -2.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Ring Energy's Altman Z-Score?
Ring Energy (REI) 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 Ring Energy's Piotroski F-Score?
Ring Energy (REI) has a Piotroski F-Score of 3 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 Ring Energy's earnings high quality?
Ring Energy (REI) has an earnings quality ratio of -4.34x, considered mixed 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 Ring Energy cover its interest payments?
Ring Energy (REI) has an interest coverage ratio of -0.8x, 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.
How financially healthy is Ring Energy?
Ring Energy (REI) scores 29 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.