A Business at a Glance
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EMPIRE PETROLEUM CORP
EP
$87M
Mkt Cap
$2.55
-3.41%
EMPIRE PETROLEUM CORP (EP) has a current P/E ratio of 8.5, compared to its historical median P/E of 39.0. The stock is currently considered Cheap based on its historical valuation range.
EMPIRE PETROLEUM CORP (EP) has a 5-year average return on invested capital (ROIC) of -22.9%. This is below average and may indicate limited pricing power.
EMPIRE PETROLEUM CORP (EP) has a market capitalization of $87M. It is classified as a small-cap stock.
EMPIRE PETROLEUM CORP (EP) does not currently pay a regular dividend.
Based on historical P/E analysis, EMPIRE PETROLEUM CORP (EP) appears cheap. The current P/E of 8.5 is 78% below its historical median of 39.0. The estimated fair value CAGR (P/E method) is 11.8%.
EMPIRE PETROLEUM CORP (EP) operates in the Crude Petroleum & Natural Gas industry, within the Energy sector.
EMPIRE PETROLEUM CORP (EP) generated $-9 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
In this Form 10-K, references to “Empire”, the “Company”, “we”, “our”, and “us” refer to Empire Petroleum Corporation and its wholly-owned subsidiaries, unless context indicates otherwise. Empire Petroleum Corporation is an independent energy company that engages in unlocking value in developed assets. Empire operates primarily from the following wholly-owned subsidiaries in its areas of operations: ●Empire New Mexico LLC (“Empire New Mexico”) ●Empire North Dakota LLC (“Empire North Dakota”) ●Empire Texas LLC (“Empire Texas”) ●Empire Louisiana LLC (“Empire Louisiana”) Empire was incorporated in the state of Delaware in 1985. The consolidated financial statements of Empire Petroleum Corporation and subsidiaries include the accounts of the Company and its wholly-owned subsidiaries. Our mission is to increase shareholder value by building oil and natural gas reserves in strategic plays in the United States.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 0 | - | 44M | 40M | 53M | 27M |
| Net Income | -72M | -72M | -16M | -12M | 7.1M | -19M |
| EPS | $-2.12 | $-2.12 | $-0.54 | $-0.55 | $0.30 | $-5.08 |
| Free Cash Flow | -8.5M | -8.5M | -36M | -9.9M | 18M | 3.2M |
| ROIC | -85.5% | -85.5% | -28.5% | -39.4% | 61.6% | - |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 0.00 | -0.34 | 0.19 | 0.16 | 0.15 | 0.69 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | -71M | -71M | -14M | -12M | 8.8M | - |
| Operating Margin | 0.0% | - | -31.3% | -29.0% | 16.6% | - |
| ROE | 0.0% | -247.9% | -33.2% | -42.9% | 42.8% | 432.6% |
| Shares Outstanding | 34M | 34M | 30M | 23M | 24M | 4M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 0 | 0 | 0 | 0 | N/A | 5.9M | N/A | 27M | 53M | 40M | 44M | N/A | 0 |
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 154K | 166K | 197K | 757K | 1.2M | 3.6M | 7.4M | 8.5M | 12M | 15M | 15M | 13M | 13M |
| EBIT | -222K | -175K | -378K | -757K | -916K | -6.2M | -18M | N/A | 8.8M | -12M | -14M | -71M | -71M |
| Op. Margin | N/A | N/A | N/A | N/A | N/A | -105.0% | N/A | N/A | 16.6% | -29.0% | -31.3% | N/A | 0.0% |
| Net Income | -237K | -175K | -382K | -830K | -1.0M | -6.7M | -17M | -19M | 7.1M | -12M | -16M | -72M | -72M |
| Net Margin | N/A | N/A | N/A | N/A | N/A | -113.6% | N/A | -68.7% | 13.4% | -31.1% | -37.1% | N/A | 0.0% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 1.3M | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | N/M | N/A | -134.1% | N/M | -59.3% | -169.1% | -156.3% | N/A | 61.6% | -39.4% | -28.5% | -85.5% | -85.5% |
| ROE | -347.2% | N/A | -155.0% | -386.5% | N/A | 261.5% | 144.0% | 432.6% | 42.8% | -42.9% | -33.2% | -247.9% | 0.0% |
| ROA | -206.9% | -175.2% | -131.2% | -218.3% | -85.7% | -102.3% | -151.2% | -60.7% | 11.6% | -15.2% | -15.0% | -76.0% | -109.4% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | -155K | -117K | -82K | -236K | -565K | -592K | -1.7M | 3.2M | 18M | -9.9M | 6.2M | -3.9M | -3.9M |
| Free Cash Flow | -155K | -117K | -82K | -236K | -565K | -607K | -1.8M | 3.2M | 18M | -9.9M | -36M | -8.5M | -8.5M |
| Owner Earnings | -155K | -117K | -148K | -236K | -1.6M | -9.0M | -6.8M | -1.8M | 13M | -16M | -5.3M | -16M | -16M |
| CapEx | 0 | 0 | 0 | 0 | 0 | 14K | 67K | 0 | 0 | 0 | 42M | 4.6M | 4.6M |
| Maint. CapEx | 0 | 0 | 0 | 0 | 16K | 3.4M | 3.1M | 2.5M | 1.9M | 3.1M | 9.3M | 11M | 11M |
| Growth CapEx | N/A | N/A | N/A | N/A | N/A | 0 | 0 | N/A | N/A | N/A | 33M | 0 | 0 |
| D&A | 0 | 0 | 0 | 0 | 16K | 3.4M | 3.1M | 2.5M | 1.9M | 3.1M | 9.3M | 11M | 11M |
| CapEx/OCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | 0.0% | 0.0% | 0.0% | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% | 0.0% | 0.0% | 0.0% |
| Stock-Based Comp | N/A | 0 | 66K | 0 | 1.0M | 5.0M | 1.9M | 2.4M | 2.7M | 3.1M | 2.2M | 1.4M | 1.4M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 1.9M | 426K | 5.9M | 1.7M | 6.5M | 592K | 639K | 639K |
| Balance Sheet | |||||||||||||
| Net Debt | N/A | -36K | -79K | 59K | 1.4M | 7.8M | 466K | 3.2M | -8.5M | -2.2M | 9.6M | 389K | 389K |
| Cash & Equiv. | 0 | 18K | 69K | 78K | 85K | 0 | 158K | 3.6M | 12M | 7.8M | 2.3M | 1.2M | 1.2M |
| Long-Term Debt | N/A | N/A | N/A | 0 | 1.2M | 7.7M | 534K | 646K | 548K | 4.6M | 11M | 639K | 639K |
| Debt/Equity | -1.56 | N/A | 0.20 | 1.07 | -9.69 | -1.58 | -0.03 | 0.69 | 0.15 | 0.16 | 0.19 | -0.34 | 0.00 |
| Interest Coverage | -70.4 | N/A | -98.5 | -10.4 | -9.1 | -12.2 | -29.3 | N/A | 18.6 | -17.9 | -9.0 | -46.1 | -46.1 |
| Equity | 0 | N/A | 301K | 128K | -150K | -4.9M | -18M | 9.8M | 23M | 35M | 63M | -4.6M | -4.6M |
| Total Assets | 0 | 200K | 383K | 378K | 2.0M | 11M | 11M | 50M | 72M | 93M | 124M | 66M | 66M |
| Total Liabilities | 0 | N/A | 23K | 250K | 2.1M | 16M | 30M | 40M | 48M | 58M | 61M | 70M | 70M |
| Intangibles | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | -15M | -15M | -15M | -16M | -17M | -24M | -41M | -59M | -52M | -65M | -81M | -153M | -153M |
| Working Capital | 0 | 10K | 60K | -124K | -373K | -531K | -3.9M | 1.1M | 5.1M | -6.3M | -8.9M | -16M | -16M |
| Current Assets | 0 | 18K | 83K | 78K | 368K | 1.7M | 2.2M | 13M | 23M | 19M | 12M | 8.2M | 8.2M |
| Current Liabilities | 0 | 8K | 23K | 202K | 741K | 2.2M | 6.1M | 12M | 18M | 25M | 21M | 24M | 24M |
| Per Share Data | |||||||||||||
| EPS | -0.12 | -0.08 | -0.16 | -0.32 | -0.32 | -1.32 | -11.88 | -5.08 | 0.30 | -0.55 | -0.54 | -2.12 | -2.12 |
| Owner EPS | -0.08 | -0.05 | -0.06 | -0.09 | -0.51 | -1.78 | -4.81 | -0.48 | 0.57 | -0.71 | -0.18 | -0.47 | -0.47 |
| Book Value | -0.00 | N/A | 0.13 | 0.05 | -0.05 | -0.98 | -13.01 | 2.68 | 0.98 | 1.54 | 2.09 | -0.14 | -0.14 |
| Cash Flow/Share | -0.08 | -0.05 | -0.03 | -0.09 | -0.18 | -0.12 | -1.22 | 0.87 | 0.76 | -0.44 | 0.21 | -0.12 | -1.81 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 2.0M | 2.2M | 2.4M | 2.6M | 3.2M | 5.0M | 1.4M | 3.7M | 23.6M | 22.7M | 30.0M | 34.0M | 34.0M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 39.0 | N/A | N/A | N/A | -1.2 |
| P/FCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 12.9 | 15.3 | N/A | N/A | N/A | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 30.2 | N/A | N/A | N/A | N/A |
| Price/Book | N/A | N/A | N/A | 13.4 | N/A | N/A | N/A | 16.7 | 11.9 | N/A | N/A | N/A | N/A |
| Price/Sales | N/A | N/A | N/A | N/A | N/A | 0.7 | N/A | 3.6 | 6.6 | N/A | N/A | N/A | N/A |
| FCF Yield | N/A | N/A | N/A | -13.8% | -24.7% | -20.1% | -6.1% | 1.9% | 6.5% | N/A | N/A | N/A | -9.9% |
| Market Cap | 0 | 0 | 0 | 1.7M | 2.3M | 3.0M | 29M | 164M | 276M | 0 | 0 | 0 | 87M |
| Avg. Price | 0.00 | 0.00 | 0.00 | 0.61 | 0.83 | 0.87 | 0.99 | 6.94 | 14.92 | 0.00 | 0.00 | 0.00 | 2.55 |
| Year-End Price | 0.00 | 0.00 | 0.00 | 0.66 | 0.72 | 0.60 | 1.48 | 11.20 | 11.70 | 0.00 | 0.00 | 0.00 | 2.55 |
EMPIRE PETROLEUM CORP passes 2 of 9 quality checks, indicating weak fundamentals.
EMPIRE PETROLEUM CORP trades at 8.5x trailing earnings, compared to its 15-year median P/E of 39.0x, suggesting it is currently Cheap relative to its historical range. On a free-cash-flow basis, the stock trades at 3.3x vs a median of 14.1x. At current prices, the estimated annualized return to fair value is +62.8%.
EMPIRE PETROLEUM CORP (EP) reported earnings per share (EPS) of $-2.12 in its most recent fiscal year.
EMPIRE PETROLEUM CORP (EP) has a return on equity (ROE) of -247.9%. A negative ROE may indicate losses or negative equity.
The Ledger Terminal provides 16 years of financial data for EMPIRE PETROLEUM CORP (EP), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
EMPIRE PETROLEUM CORP (EP) has a book value per share of $-0.14, based on its most recent annual SEC filing.