Dune Oil Corp Financials

TRLEF

FY2021 annual

Revenue $3.7M +43.2% YoY

Net Income -$2.1M +42.0% YoY

EPS (Diluted) Not reported for FY2021

Free Cash Flow Not reported for FY2021

Source SEC Filings (10-K/10-Q) Data as of Dec 31, 2021 Currency USD FYE December

Dune Oil Corp (TRLEF) reported $3.7M in revenue for fiscal year 2021, up 43.2% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 8 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 TRLEF FY2021 2026-08-15

The dominant mechanic is cash burn funded by new capital, with only a brief pause in self-funding.

A brief self-funding window closed quickly: the company once produced operating cash flow of $176K despite a net loss of -$1.7M. By FY2021, cash conversion had reversed; operating cash flow was -$1.9M even after revenue recovered, so the business depended on external funding rather than on the sales base to cover day-to-day operating needs.

Near-term liquidity improved, with the current ratio back to 1.2x and cash at $1.0M. But that cushion rested on financing inflow of $2.7M, meaning the healthier cash balance came from fundraising while the core operation still consumed cash.

The balance sheet is thinly capitalized: equity was just $741K against liabilities of $6.4M, so another loss year can change leverage quickly even if revenue holds steady. That helps explain the steep rise in share count across the period; dilution has been part of how the business absorbs operating shortfalls.

Financial Health Signals

Financial health score not available

Dune Oil Corp 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.

Altman Z-Score Distress

-6.14

Dune Oil Corp scores -6.14, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($7.3M) relative to total liabilities ($6.4M). 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.

Piotroski F-Score Partial

4/7

Dune Oil Corp passes 4 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, both operating efficiency signals pass.

Earnings Quality No Cash Backing

N/A

Dune Oil Corp reported a net loss of $2.1M while operations used $1.9M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Interest Coverage At Risk

N/A

Dune Oil Corp reported an operating loss of $3.1M against $126K 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

Export CSV

Earnings & Revenue

Revenue

$3.7M

YoY+43.2%

Dune Oil Corp generated $3.7M in revenue in fiscal year 2021. This represents an increase of 43.2% from the prior year.

EBITDA

-$3.1M

YoY+3.4%

Dune Oil Corp's EBITDA was -$3.1M in fiscal year 2021, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 3.4% from the prior year.

Net Income

-$2.1M

YoY+42.0%

Dune Oil Corp reported -$2.1M in net income in fiscal year 2021. This represents an increase of 42.0% from the prior year.

EPS (Diluted)

Not reported for fiscal year 2021.

Cash & Balance Sheet

Cash & Debt

$1.0M

YoY+406.6%

5Y CAGR-7.9%

Dune Oil Corp held $1.0M in cash as of fiscal year 2021; long-term debt is not reported for that period.

Shares Outstanding

185M

YoY+59.5%

5Y CAGR+29.9%

Dune Oil Corp had 185M shares outstanding in fiscal year 2021. This represents an increase of 59.5% from the prior year.

Free Cash Flow

Not reported for fiscal year 2021.

Dividends Per Share

Not reported for fiscal year 2021.

Margins & Returns

Operating Margin

-83.7%

Dune Oil Corp's operating margin was -83.7% in fiscal year 2021, reflecting core business profitability. No change is given against fiscal year 2020: its reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.

Net Margin

-55.4%

Dune Oil Corp's net profit margin was -55.4% in fiscal year 2021, showing the share of revenue converted to profit. No change is given against fiscal year 2020: its reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.

Return on Equity

-276.7%

Dune Oil Corp's ROE was -276.7% in fiscal year 2021, measuring profit generated per dollar of shareholder equity.

Gross Margin

Not reported for fiscal year 2021.

Capital Allocation

None of these metrics is reported for fiscal year 2021.

TRLEF Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

TRLEF annual income statement

Metric	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14
Revenue	$3.7M+43.2%	$2.6M-34.0%	$3.9M-7.9%	$4.3M+9.5%	$3.9M	N/A	N/A	N/A
SG&A Expenses	$2.2M+18.7%	$1.9M+6.3%	$1.8M-15.9%	$2.1M+5.9%	$2.0M-49.8%	$4.0M+377.0%	$835K+2.7%	$813K
Operating Income	-$3.1M+3.5%	-$3.2M-89.6%	-$1.7M+19.6%	-$2.1M+3.6%	-$2.2M+45.2%	-$4.0M-377.0%	-$835K-2.7%	-$813K
Interest Expense	$126K+48.1%	$85K+90.7%	$45K-27.1%	$61K-27.3%	$84K	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	$0	$0
Net Income	-$2.1M+42.0%	-$3.5M-109.9%	-$1.7M+29.1%	-$2.4M+4.5%	-$2.5M+37.8%	-$4.0M-423.4%	-$764K+12.5%	-$873K

Metric	Q4'21	Q3'21	Q2'21	Q1'21	Q4'20	Q3'20	Q2'20	Q1'20
Revenue	$864K-1.8%	$879K-13.2%	$1.0M+7.3%	$945K+16.4%	$811K+64.3%	$494K-23.8%	$648K+2.6%	$632K
SG&A Expenses	$624K+22.5%	$509K-6.9%	$547K-3.6%	$568K+0.5%	$565K+3.0%	$549K+25.7%	$436K+26.9%	$344K
Operating Income	-$910K-41.5%	-$643K+40.2%	-$1.1M-129.2%	-$469K+49.1%	-$922K+11.7%	-$1.0M-37.0%	-$762K-57.5%	-$484K
Interest Expense	$6K-86.7%	$46K+58.7%	$29K-35.0%	$45K+2684.6%	-$2K-105.1%	$34K+29.6%	$26K+0.2%	$26K
Net Income	$112K-97.9%	$5.4M+186.6%	$1.9M+120.0%	-$9.5M-738.5%	-$1.1M+4.5%	-$1.2M-49.3%	-$792K-85.2%	-$428K
EPS (Diluted)	N/A	$0.03+200.0%	$0.01	N/A	N/A	-$0.010.0%	-$0.01	N/A

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, EPS (Diluted).

TRLEF Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

TRLEF annual balance sheet

Metric	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14
Total Assets	$7.2M+10.3%	$6.5M-11.1%	$7.3M-15.8%	$8.7M+23.0%	$7.0M+39.7%	$5.0M+51.4%	$3.3M-11.3%	$3.8M
Current Assets	$1.8M+83.2%	$1.0M-36.7%	$1.6M-9.9%	$1.8M+67.4%	$1.0M-49.2%	$2.1M+2204.0%	$89K-94.3%	$1.6M
Cash & Equivalents	$1.0M+406.6%	$203K-76.5%	$863K+8.5%	$796K+509.7%	$130K-91.6%	$1.6M+1952.6%	$76K-95.1%	$1.5M
Accounts Receivable	$710K-8.2%	$773K+21.4%	$637K-3.7%	$661K+10.2%	$600K	N/A	N/A	N/A
Total Liabilities	$6.4M-19.1%	$7.9M+44.2%	$5.5M-5.1%	$5.8M+14.1%	$5.1M+303.9%	$1.3M+956.0%	$119K-55.7%	$269K
Current Liabilities	$1.5M-27.6%	$2.1M+73.0%	$1.2M-32.6%	$1.8M-30.7%	$2.5M+102.9%	$1.3M	N/A	N/A
Total Equity	$741K+151.4%	-$1.4M-180.1%	$1.8M-37.3%	$2.9M+46.0%	$2.0M-48.1%	$3.8M+17.9%	$3.2M-7.9%	$3.5M
Retained Earnings	-$30.5M-7.2%	-$28.5M-14.2%	-$24.9M-7.2%	-$23.3M-11.4%	-$20.9M-13.5%	-$18.4M-27.8%	-$14.4M-5.6%	-$13.6M

Metric	Q4'21	Q3'21	Q2'21	Q1'21	Q4'20	Q3'20	Q2'20	Q1'20
Total Assets	$7.2M-16.2%	$8.5M+10.9%	$7.7M-4.1%	$8.0M+23.8%	$6.5M+0.6%	$6.4M-6.6%	$6.9M+0.5%	$6.9M
Current Assets	$1.8M-31.9%	$2.7M+14.0%	$2.4M-10.1%	$2.6M+162.5%	$1.0M+10.2%	$908K-29.0%	$1.3M+16.3%	$1.1M
Cash & Equivalents	$1.0M-29.9%	$1.5M+35.1%	$1.1M-17.9%	$1.3M+551.6%	$203K-12.4%	$231K-59.6%	$572K-11.6%	$647K
Accounts Receivable	$710K-18.7%	$873K-17.0%	$1.1M+15.5%	$910K+17.7%	$773K+30.3%	$593K+5.3%	$563K+52.6%	$369K
Total Liabilities	$6.4M-13.3%	$7.4M-47.6%	$14.1M-17.1%	$17.0M+114.9%	$7.9M+11.9%	$7.1M+9.6%	$6.5M+15.2%	$5.6M
Current Liabilities	$1.5M-8.8%	$1.6M-27.2%	$2.2M+0.8%	$2.2M+8.1%	$2.1M+60.7%	$1.3M-8.4%	$1.4M+17.2%	$1.2M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	$34K-9.4%	$38K
Total Equity	$741K-34.5%	$1.1M+117.6%	-$6.4M+28.4%	-$9.0M-522.6%	-$1.4M-125.1%	-$641K-246.9%	$436K-65.3%	$1.3M
Retained Earnings	-$30.5M+0.4%	-$30.6M+15.0%	-$36.1M+5.0%	-$37.9M-33.3%	-$28.5M-4.1%	-$27.3M-4.5%	-$26.2M-3.1%	-$25.4M

Not reported in any period shown, so not listed: Inventory, Goodwill, Long-Term Debt.

TRLEF Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

TRLEF annual cash flow statement

Metric	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14
Operating Cash Flow	-$1.9M-14.1%	-$1.7M-1036.2%	$176K+166.0%	-$267K+44.0%	-$477K-20.1%	-$397K+54.0%	-$864K-45.8%	-$593K
Capital Expenditures	N/A	N/A	$11K-87.6%	$86K-28.1%	$119K	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	$166K+146.9%	-$353K+40.8%	-$596K	N/A	N/A	N/A
Investing Cash Flow	-$182K-130.7%	-$79K-64.0%	-$48K+91.9%	-$590K+40.3%	-$988K-2381.6%	-$40K	N/A	N/A
Financing Cash Flow	$2.7M+158.9%	$1.0M+803.6%	$114K-92.3%	$1.5M+793.2%	$166K-91.3%	$1.9M	N/A	N/A

Metric	Q4'21	Q3'21	Q2'21	Q1'21	Q4'20	Q3'20	Q2'20	Q1'20
Operating Cash Flow	-$772K-65.6%	-$466K-20.0%	-$389K-51.7%	-$256K+50.8%	-$521K-23.3%	-$422K+31.5%	-$616K-571.2%	-$92K
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	$13K-82.9%	$79K
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	-$630K-269.6%	-$170K
Investing Cash Flow	-$130K-186.5%	-$45K-608.7%	-$6K-758.5%	-$743-102.9%	$25K+387.1%	-$9K+35.7%	-$14K+83.1%	-$82K
Financing Cash Flow	$294K-60.2%	$739K+199.1%	$247K-82.1%	$1.4M+426.5%	$263K+57.8%	$166K-68.3%	$525K+605.1%	$74K

Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.

TRLEF Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

TRLEF annual financial ratios

Metric	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14
Operating Margin	-83.7%	-124.3%	-43.3%+6.3pp	-49.5%+6.7pp	-56.2%	N/A	N/A	N/A
Net Margin	-55.4%	-136.7%	-43.0%+12.9pp	-55.9%+8.2pp	-64.0%	N/A	N/A	N/A
Return on Equity	-276.7%	N/A	-93.5%-10.8pp	-82.7%+43.8pp	-126.5%-20.9pp	-105.6%-81.8pp	-23.8%+1.2pp	-25.0%
Return on Assets	-28.6%+25.8pp	-54.5%-31.4pp	-23.1%+4.4pp	-27.4%+7.9pp	-35.3%+44.0pp	-79.3%-56.4pp	-22.9%+0.3pp	-23.3%
Current Ratio	1.23+0.7x	0.49-0.8x	1.33+0.3x	0.99+0.6x	0.41-1.2x	1.64	N/A	N/A
Debt-to-Equity	8.66	N/A	3.05+1.0x	2.02-0.6x	2.58+2.3x	0.33+0.3x	0.040.0x	0.08
FCF Margin	N/A	N/A	4.2%+12.5pp	-8.3%+7.0pp	-15.3%	N/A	N/A	N/A

Metric	Q4'21	Q3'21	Q2'21	Q1'21	Q4'20	Q3'20	Q2'20	Q1'20
Operating Margin	-105.4%	-73.2%	-106.1%	-49.7%	-113.7%	-211.5%	-117.6%	-76.6%
Net Margin	13.0%	616.3%	186.6%	-1002.8%	-139.3%	-239.7%	-122.3%	-67.7%
Return on Equity	15.1%-463.6pp	478.7%	N/A	N/A	N/A	N/A	-181.8%-147.7pp	-34.1%
Return on Assets	1.6%-61.9pp	63.5%+38.9pp	24.6%+142.5pp	-118.0%-100.6pp	-17.4%+0.9pp	-18.4%-6.9pp	-11.5%-5.3pp	-6.2%
Current Ratio	1.23-0.4x	1.65+0.6x	1.05-0.1x	1.18+0.7x	0.49-0.2x	0.71-0.2x	0.910.0x	0.92
Debt-to-Equity	8.66+2.1x	6.54	N/A	N/A	N/A	N/A	0.080.0x	0.03
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	-97.2%-70.2pp	-27.0%

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.

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Where Dune Oil Corp Ranks

Frequently Asked Questions

What is Dune Oil Corp's annual revenue?

Dune Oil Corp (TRLEF) reported $3.7M in total revenue for fiscal year 2021. This represents a 43.2% 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 Dune Oil Corp's revenue growing?

Dune Oil Corp (TRLEF) revenue grew by 43.2% year-over-year, from $2.6M to $3.7M in fiscal year 2021.

Is Dune Oil Corp profitable?

No, Dune Oil Corp (TRLEF) reported a net income of -$2.1M in fiscal year 2021, with a net profit margin of -55.4%.

What is Dune Oil Corp's EBITDA?

Dune Oil Corp (TRLEF) had EBITDA of -$3.1M in fiscal year 2021, measuring earnings before interest, taxes, depreciation, and amortization.

What is Dune Oil Corp's operating margin?

Dune Oil Corp (TRLEF) had an operating margin of -83.7% in fiscal year 2021, reflecting the profitability of core business operations before interest and taxes.

What is Dune Oil Corp's net profit margin?

Dune Oil Corp (TRLEF) had a net profit margin of -55.4% in fiscal year 2021, representing the share of revenue converted into profit after all expenses.

What is Dune Oil Corp's return on equity (ROE)?

Dune Oil Corp (TRLEF) has a return on equity of -276.7% for fiscal year 2021, measuring how efficiently the company generates profit from shareholder equity.

What is Dune Oil Corp's operating cash flow?

Dune Oil Corp (TRLEF) recorded an outflow of $1.9M in operating cash flow during fiscal year 2021, representing cash used by core business activities.

What are Dune Oil Corp's total assets?

Dune Oil Corp (TRLEF) had $7.2M in total assets as of fiscal year 2021, including both current and long-term assets.

How many shares does Dune Oil Corp have outstanding?

Dune Oil Corp (TRLEF) had 185M shares outstanding as of fiscal year 2021.

What is Dune Oil Corp's current ratio?

Dune Oil Corp (TRLEF) had a current ratio of 1.23 as of fiscal year 2021, which is considered adequate.

What is Dune Oil Corp's debt-to-equity ratio?

Dune Oil Corp (TRLEF) had a debt-to-equity ratio of 8.66 as of fiscal year 2021, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Dune Oil Corp's return on assets (ROA)?

Dune Oil Corp (TRLEF) had a return on assets of -28.6% for fiscal year 2021, measuring how efficiently the company uses its assets to generate profit.

What is Dune Oil Corp's cash runway?

Based on fiscal year 2021 data, Dune Oil Corp (TRLEF) had $1.0M in cash against an annual operating cash burn of $1.9M. This gives an estimated cash runway of approximately 7 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.

What is Dune Oil Corp's Altman Z-Score?

Dune Oil Corp (TRLEF) has an Altman Z-Score of -6.14, 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 Dune Oil Corp's Piotroski F-Score?

Dune Oil Corp (TRLEF) has a Piotroski F-Score of 4 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 Dune Oil Corp's earnings high quality?

Dune Oil Corp (TRLEF) reported a net loss of $2.1M while operations used $1.9M 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 Dune Oil Corp cover its interest payments?

Dune Oil Corp (TRLEF) reported an operating loss of $3.1M against $126K 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.