Talos Energy Financials
This page shows Talos Energy (TALO) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 11 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).
Reported losses are being driven by heavy non-cash depletion and depreciation, while operating cash now supports a slower investment cycle.
FY2025’s accounting loss and cash generation moved in opposite directions: net income was-$494M but operating cash flow still reached$936M , showing earnings were shaped more by non-cash asset charges than by a collapse in cash coming off the asset base. With investing intensity cut from$1.32B to$547M , the business shifted from externally supported spending in FY2024 to internally funded liquidity repair in FY2025.
Liquidity improved materially: cash rose to
The business remains asset-heavy: FY2025 EBITDA was
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Talos 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.
Talos Energy has an operating margin of -31.5%, meaning the company retains $-31 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from 8.8% the prior year.
Talos Energy's revenue declined 9.8% year-over-year, from $2.0B to $1.8B. This contraction results in a growth score of 51/100.
Talos Energy carries a low D/E ratio of 0.57, meaning only $0.57 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 90/100, indicating a strong balance sheet with room for future borrowing.
Talos Energy's current ratio of 1.30 is below the typical benchmark, resulting in a score of 21/100. However, the company holds substantial cash reserves (56% of current liabilities), which buffers actual liquidity risk. Large mature operators often run tight current ratios by design.
Talos Energy generates a -22.8% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -2.8% the prior year.
Talos Energy passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Talos Energy generates $-1.89 in operating cash flow ($935.8M OCF vs -$494.3M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Talos Energy earns $-3.4 in operating income for every $1 of interest expense (-$560.3M vs $163.4M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Talos Energy generated $1.8B in revenue in fiscal year 2025. This represents a decrease of 9.8% from the prior year.
Talos Energy's EBITDA was $496.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 58.5% from the prior year.
Talos Energy reported -$494.3M in net income in fiscal year 2025. This represents a decrease of 547.0% from the prior year.
Talos Energy earned $-2.82 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 540.9% from the prior year.
Cash & Balance Sheet
Talos Energy held $362.8M in cash against $1.2B in long-term debt as of fiscal year 2025.
Margins & Returns
Talos Energy's operating margin was -31.5% in fiscal year 2025, reflecting core business profitability. This is down 40.2 percentage points from the prior year.
Talos Energy's net profit margin was -27.8% in fiscal year 2025, showing the share of revenue converted to profit. This is down 23.9 percentage points from the prior year.
Talos Energy's ROE was -22.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 20.0 percentage points from the prior year.
Capital Allocation
Talos Energy spent $119.5M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 164.4% from the prior year.
TALO Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $472.3M+20.4% | $392.2M-12.8% | $450.1M+6.0% | $424.7M-17.2% | $513.1M+5.7% | $485.2M-4.7% | $509.3M-7.3% | $549.2M |
| 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 | $41.0M+3.0% | $39.8M-4.3% | $41.5M+5.4% | $39.4M+13.9% | $34.6M-16.7% | $41.6M-0.7% | $41.9M-13.2% | $48.2M |
| Operating Income | -$119.4M+51.0% | -$244.0M-183.1% | -$86.2M+68.5% | -$273.6M-729.7% | $43.5M+60.0% | $27.2M+15.4% | $23.5M-56.7% | $54.4M |
| Interest Expense | $39.2M-4.0% | $40.8M-0.1% | $40.8M+0.1% | $40.8M-0.3% | $40.9M-1.5% | $41.5M-10.2% | $46.3M-5.5% | $49.0M |
| Income Tax | -$65.3M-34.8% | -$48.4M-100.2% | -$24.2M+33.6% | -$36.4M-39928.6% | -$91K-101.0% | $9.4M-47.8% | $18.1M+1942.4% | -$983K |
| Net Income | -$256.2M-26.4% | -$202.6M-111.2% | -$95.9M+48.4% | -$185.9M-1784.2% | -$9.9M+84.7% | -$64.5M-173.2% | $88.2M+612.2% | $12.4M |
| EPS (Diluted) | $-1.52 | N/A | $-0.55+47.6% | $-1.05-2000.0% | $-0.05 | N/A | $0.49+600.0% | $0.07 |
TALO Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $5.3B-5.0% | $5.6B-2.6% | $5.7B-3.8% | $5.9B-3.4% | $6.1B-1.0% | $6.2B-3.2% | $6.4B+0.6% | $6.4B |
| Current Assets | $847.5M+0.7% | $841.3M+3.7% | $810.9M-6.9% | $870.6M+22.8% | $708.8M+7.5% | $659.4M+0.6% | $655.6M+15.9% | $565.8M |
| Cash & Equivalents | $386.4M+6.5% | $362.8M+9.1% | $332.7M-6.9% | $357.3M+76.0% | $202.9M+87.6% | $108.2M+137.5% | $45.5M+20.5% | $37.8M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $250.4M+50.2% | $166.8M-15.5% | $197.3M-6.0% | $209.9M-13.5% | $242.7M+2.5% | $236.7M+12.6% | $210.2M-13.8% | $243.8M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $3.4B+0.4% | $3.4B+2.0% | $3.3B-2.6% | $3.4B+0.1% | $3.4B-0.9% | $3.4B-4.2% | $3.6B-1.5% | $3.6B |
| Current Liabilities | $707.0M+9.7% | $644.7M+1.2% | $637.1M-10.5% | $712.1M+5.8% | $672.8M-7.0% | $723.1M+6.7% | $677.9M-4.7% | $711.6M |
| Long-Term Debt | $1.2B+0.1% | $1.2B+0.1% | $1.2B+0.1% | $1.2B+0.1% | $1.2B+0.1% | $1.2B-8.7% | $1.3B-6.8% | $1.4B |
| Total Equity | $1.9B-13.5% | $2.2B-8.9% | $2.4B-5.5% | $2.5B-7.8% | $2.7B-1.0% | $2.8B-2.1% | $2.8B+3.3% | $2.7B |
| Retained Earnings | -$1.2B-27.9% | -$918.4M-28.3% | -$715.8M-15.5% | -$619.9M-42.8% | -$434.0M-2.3% | -$424.1M-17.9% | -$359.6M+19.7% | -$447.8M |
TALO Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $174.0M-13.8% | $201.8M+76.7% | $114.2M-67.5% | $351.6M+31.1% | $268.2M-23.2% | $349.3M+53.6% | $227.5M-21.4% | $289.4M |
| Capital Expenditures | 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 | N/A |
| Investing Cash Flow | -$89.6M+36.9% | -$142.1M-26.4% | -$112.4M+24.6% | -$149.0M-4.0% | -$143.3M+5.9% | -$152.3M-44.8% | -$105.2M+16.0% | -$125.2M |
| Financing Cash Flow | -$60.5M-107.5% | -$29.1M+50.2% | -$58.5M-23.0% | -$47.5M-61.7% | -$29.4M+78.0% | -$133.6M-17.7% | -$113.5M+22.4% | -$146.4M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $38.2M+132.2% | $16.5M-65.9% | $48.3M+28.9% | $37.4M+116.6% | $17.3M | $0-100.0% | $5.9M-85.1% | $39.3M |
TALO 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 | -25.3%+36.9pp | -62.2%-43.0pp | -19.1%+45.3pp | -64.4%-72.9pp | 8.5%+2.9pp | 5.6%+1.0pp | 4.6%-5.3pp | 9.9% |
| Net Margin | -54.2%-2.6pp | -51.6%-30.3pp | -21.3%+22.5pp | -43.8%-41.9pp | -1.9%+11.4pp | -13.3%-30.6pp | 17.3%+15.1pp | 2.3% |
| Return on Equity | -13.7%-4.3pp | -9.3%-5.3pp | -4.0%+3.4pp | -7.4%-7.0pp | -0.4%+2.0pp | -2.3%-5.5pp | 3.1%+2.7pp | 0.4% |
| Return on Assets | -4.9%-1.2pp | -3.6%-2.0pp | -1.7%+1.5pp | -3.1%-3.0pp | -0.2%+0.9pp | -1.0%-2.4pp | 1.4%+1.2pp | 0.2% |
| Current Ratio | 1.20-0.1 | 1.30+0.0 | 1.27+0.1 | 1.22+0.2 | 1.05+0.1 | 0.91-0.1 | 0.97+0.2 | 0.80 |
| Debt-to-Equity | 0.65+0.1 | 0.57+0.1 | 0.51+0.0 | 0.49+0.0 | 0.450.0 | 0.44-0.0 | 0.47-0.1 | 0.53 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
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Frequently Asked Questions
What is Talos Energy's annual revenue?
Talos Energy (TALO) reported $1.8B in total revenue for fiscal year 2025. This represents a -9.8% 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 Talos Energy's revenue growing?
Talos Energy (TALO) revenue declined by 9.8% year-over-year, from $2.0B to $1.8B in fiscal year 2025.
Is Talos Energy profitable?
No, Talos Energy (TALO) reported a net income of -$494.3M in fiscal year 2025, with a net profit margin of -27.8%.
What is Talos Energy's EBITDA?
Talos Energy (TALO) had EBITDA of $496.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Talos Energy have?
As of fiscal year 2025, Talos Energy (TALO) had $362.8M in cash and equivalents against $1.2B in long-term debt.
What is Talos Energy's operating margin?
Talos Energy (TALO) had an operating margin of -31.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Talos Energy's net profit margin?
Talos Energy (TALO) had a net profit margin of -27.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Talos Energy's return on equity (ROE)?
Talos Energy (TALO) has a return on equity of -22.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Talos Energy's operating cash flow?
Talos Energy (TALO) generated $935.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Talos Energy's total assets?
Talos Energy (TALO) had $5.6B in total assets as of fiscal year 2025, including both current and long-term assets.
What is Talos Energy's current ratio?
Talos Energy (TALO) had a current ratio of 1.30 as of fiscal year 2025, which is considered adequate.
What is Talos Energy's debt-to-equity ratio?
Talos Energy (TALO) had a debt-to-equity ratio of 0.57 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Talos Energy's return on assets (ROA)?
Talos Energy (TALO) had a return on assets of -8.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Talos Energy's Piotroski F-Score?
Talos Energy (TALO) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. 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 Talos Energy's earnings high quality?
Talos Energy (TALO) has an earnings quality ratio of -1.89x, 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 Talos Energy cover its interest payments?
Talos Energy (TALO) has an interest coverage ratio of -3.4x, 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 Talos Energy?
Talos Energy (TALO) scores 27 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.