A Business at a Glance
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Permian Resources Corp
PR
$15.6B
Mkt Cap
$21.35
-0.09%
Permian Resources Corp (PR) has a current P/E ratio of 16.7, compared to its historical median P/E of 11.4. The stock is currently considered Fair based on its historical valuation range.
Permian Resources Corp (PR) has a 5-year average return on invested capital (ROIC) of 12.7%. This indicates solid capital allocation.
Permian Resources Corp (PR) has a market capitalization of $17.7B. It is classified as a large-cap stock.
Yes, Permian Resources Corp (PR) pays a dividend with a trailing twelve-month yield of 2.70%.
Based on historical P/E analysis, Permian Resources Corp (PR) appears fair. The current P/E of 16.7 is 46% above its historical median of 11.4. The estimated fair value CAGR (P/E method) is 29.6%.
Permian Resources Corp (PR) operates in the Crude Petroleum & Natural Gas industry, within the Energy sector.
Permian Resources Corp (PR) reported annual revenue of $5.1 billion in its most recent fiscal year, based on SEC EDGAR filings.
Permian Resources Corporation is an independent oil and natural gas company focused on the Permian Basin, with approximately 480,000 net leasehold acres and over 105,000 net royalty acres concentrated in the core of the Delaware Basin in West Texas and New Mexico (67% in Texas, 33% in New Mexico). The company generates returns through acquisition, optimization, and development of crude oil and liquids-rich natural gas reserves, employing a capital-efficient development program supported by technical expertise in data-driven spacing, targeting, interval-specific completions, and precise wellbore placement. The business model emphasizes maximizing free cash flow through disciplined capital allocation, maintaining a conservative balance sheet, and executing bolt-on and grassroots acquisition programs; unit economics are characterized by low drilling and completion costs (targeting $675 per foot in 2026, approximately 20% cheaper than 2024) and strong well productivity with consistent results across the portfolio. Distribution and monetization benefit from recent pipeline takeaway capacity agreements that reduce exposure to Waha pricing volatility and improve gas realizations by approximately $0.50 per Mcf premium versus prior Waha-based pricing. The company's competitive moat derives from its scaled, contiguous acreage position in the core Delaware Basin, operational flexibility, cost leadership, and technical expertise concentrated in Midland, enabling seamless translation of insights to field execution. Primary customers are oil and natural gas buyers; the company serves the energy market through crude oil, natural gas liquids, and natural gas production.
【Free cash flow per share growth】 Management expects continued outsized free cash flow per share growth driven by consistent well productivity, meaningful cost reductions across the cost structure, and improved capital efficiency, with 2026 anticipated to deliver approximately 5% higher production than 2025 on $120 million lower CapEx. The company maintains operational flexibility to respond to macro uncertainty, with the ability to adjust activity levels and capital deployment based on commodity price environments while preserving the capacity to execute acquisitions in the $1–3 billion range within leverage comfort zones. Pipeline takeaway capacity agreements coming online in 2026 and expanding in 2027 are expected to further improve gas realizations and reduce Waha volatility exposure, with management expecting greater benefits from existing contracts beyond 2026 as additional optimization opportunities are realized. The company plans to continue drilling the same wells in the same areas with similar working interest and well mix, expecting 2026 productivity to be in line with or slightly better than 2024–2025 levels, supported by ongoing innovation and efficiency improvements in drilling and completion operations.
| Metric | Target | Period |
|---|---|---|
| Total production | 415,000 BOE per day | FY2026 |
| Oil production | 189,000 barrels of oil per day | FY2026 |
| Capital expenditures | $1.85 billion | FY2026 |
| Drilling and completion cost per foot | $675 per foot | FY2026 |
| Gas sales volumes with pipeline agreements | approximately 400 million cubic feet per day in 2026, increasing to roughly 700 million cubic feet per day in 2027 and beyond | FY2026 and FY2027+ |
| Gas net back improvement versus Waha | $0.50 premium to Waha | FY2026 |
Total production (FY2026): “For the full year 2026, we expect total production to average 415,000 BOE per day”
Oil production (FY2026): “oil production to average 189,000 barrels of oil per day”
Capital expenditures (FY2026): “We expect to spend $1.85 billion of CapEx for the year”
Drilling and completion cost per foot (FY2026): “our anticipated 2026 costs of $675 a foot”
Gas sales volumes with pipeline agreements (FY2026 and FY2027+): “we expect to sell approximately 400 million cubic feet per day out of the basin in 2026, increasing to roughly 700 million cubic feet per day in 2027 and beyond”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q1 FY2025 Earnings Call, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call, Q2 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 5.1B | 5.1B | 5.0B | 3.1B | 2.1B | 1.0B |
| Net Income | 649M | 935M | 985M | 476M | 515M | 138M |
| EPS | $0.86 | $1.28 | $1.45 | $1.24 | $0.81 | $0.23 |
| Free Cash Flow | 3.3B | 3.4B | 3.1B | 1.9B | 1.2B | 496M |
| ROIC | 7.4% | 8.7% | 12.2% | 12.3% | 20.1% | 10.2% |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 0.31 | 0.36 | 0.47 | 0.62 | 0.75 | 0.31 |
| Dividends/Share | $0.58 | $0.60 | $0.71 | $0.37 | $0.02 | $0.00 |
| Operating Income | 1.4B | 1.5B | 1.7B | 1.1B | 1.0B | 371M |
| Operating Margin | 28.1% | 28.9% | 34.9% | 35.1% | 47.3% | 36.0% |
| ROE | 5.7% | 9.6% | 12.7% | 10.3% | 18.1% | 5.2% |
| Shares Outstanding | 828M | 731M | 679M | 384M | 640M | 601M |
| Metric | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||
| Revenue | 90M | 430M | 891M | 944M | 580M | 1.0B | 2.1B | 3.1B | 5.0B | 5.1B | 5.1B |
| Gross Margin | N/A | 42.7% | 41.7% | 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 |
| SG&A | 14M | 50M | 63M | 79M | 73M | 110M | 160M | 162M | 175M | 186M | 187M |
| EBIT | -53M | 114M | 283M | 79M | -780M | 371M | 1.0B | 1.1B | 1.7B | 1.5B | 1.4B |
| Op. Margin | -59.0% | 26.5% | 31.8% | 8.4% | -134.4% | 36.0% | 47.3% | 35.1% | 34.9% | 28.9% | 28.1% |
| Net Income | -38M | 76M | 200M | 16M | -683M | 138M | 515M | 476M | 985M | 935M | 649M |
| Net Margin | -42.4% | 17.6% | 22.4% | 1.7% | -117.6% | 13.4% | 24.2% | 15.3% | 19.7% | 18.5% | 12.8% |
| Non-Recurring | 0 | 8.8M | 475K | -857K | 398K | 34M | -1.3M | 211K | 375K | 0 | 0 |
| Returns on Capital | |||||||||||
| ROIC | -7.3% | 2.9% | 6.1% | 1.5% | -17.1% | 10.2% | 20.1% | 12.3% | 12.2% | 8.7% | 7.4% |
| ROE | -8.5% | 2.9% | 6.7% | 0.5% | -23.3% | 5.2% | 18.1% | 10.3% | 12.7% | 9.6% | 5.7% |
| ROA | -6.2% | 2.4% | 5.1% | 0.4% | -16.0% | 3.6% | 8.4% | 4.1% | 6.2% | 5.4% | 3.6% |
| Cash Flow | |||||||||||
| Op. Cash Flow | 69M | 260M | 670M | 564M | 171M | 526M | 1.4B | 2.2B | 3.4B | 3.6B | 3.5B |
| Free Cash Flow | 67M | 133M | 551M | 467M | 148M | 496M | 1.2B | 1.9B | 3.1B | 3.4B | 3.3B |
| Owner Earnings | 69M | 72M | 152M | -397M | -1.7B | -1.5B | -1.2B | -1.3B | -1.8B | -3.6B | -5.8B |
| CapEx | 2.1M | 126M | 119M | 97M | 23M | 29M | 166M | 325M | 292M | 248M | 265M |
| Maint. CapEx | 0 | 174M | 497M | 932M | 1.9B | 2.0B | 2.4B | 3.4B | 5.2B | 7.2B | 9.2B |
| Growth CapEx | N/A | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 0 | 174M | 497M | 932M | 1.9B | 2.0B | 2.4B | 3.4B | 5.2B | 7.2B | 9.2B |
| CapEx/OCF | N/A | 48.7% | 17.8% | 17.2% | 13.7% | 5.5% | 12.1% | 14.7% | 8.5% | 6.9% | 7.5% |
| Capital Allocation | |||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 14M | 142M | 467M | 448M | 477M |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | 0.3% | 3.5% | 4.9% | 4.6% | 2.7% |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 0 | 14M | 21M | 29M | 21M | 38M | 116M | 78M | 60M | 70M | 70M |
| Debt Repayment | 83M | 275M | 175M | 720M | 415M | 875M | 755M | 2.3B | 2.0B | 19M | 19M |
| Balance Sheet | |||||||||||
| Net Debt | 72M | 664M | 673M | 1.1B | 1.1B | 834M | 2.2B | 3.8B | 3.8B | 3.5B | 3.4B |
| Cash & Equiv. | 1.8M | 117M | 18M | 10M | 5.8M | 9.4M | 60M | 73M | 479M | 154M | 171M |
| Long-Term Debt | 74M | 391M | 692M | 1.1B | 1.1B | 826M | 2.1B | 3.8B | 4.2B | 3.5B | 3.5B |
| Debt/Equity | 0.16 | 0.28 | 0.22 | 0.33 | 0.41 | 0.31 | 0.75 | 0.62 | 0.47 | 0.36 | 0.31 |
| Interest Coverage | -8.5 | 19.9 | 10.7 | 1.4 | -11.3 | 6.0 | 10.5 | 6.2 | 5.9 | 5.2 | 5.2 |
| Equity | 451M | 2.8B | 3.1B | 3.3B | 2.6B | 2.8B | 2.9B | 6.3B | 9.1B | 10.3B | 11.3B |
| Total Assets | 616M | 3.6B | 4.3B | 4.7B | 3.8B | 3.8B | 8.5B | 15.0B | 16.9B | 17.9B | 18.0B |
| Total Liabilities | 165M | 613M | 1.0B | 1.4B | 1.2B | 1.1B | 2.8B | 5.7B | 6.4B | 6.4B | 6.7B |
| Intangibles | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | 0 | 67M | 267M | 282M | -401M | -262M | 237M | 569M | 1.1B | 1.6B | 1.5B |
| Working Capital | 12M | 2.8M | -118M | -134M | -66M | -81M | -142M | -591M | -206M | -366M | -624M |
| Current Assets | 34M | 203M | 130M | 120M | 66M | 87M | 464M | 650M | 1.1B | 1.3B | 1.2B |
| Current Liabilities | 22M | 200M | 248M | 254M | 132M | 168M | 606M | 1.2B | 1.3B | 1.7B | 1.8B |
| Per Share Data | |||||||||||
| EPS | -0.17 | 0.16 | 0.38 | 0.03 | -1.23 | 0.23 | 0.81 | 1.24 | 1.45 | 1.28 | 0.86 |
| Owner EPS | 0.31 | 0.15 | 0.29 | -0.75 | -3.11 | -2.50 | -1.82 | -3.30 | -2.67 | -4.97 | -6.97 |
| Book Value | 2.04 | 6.00 | 5.82 | 6.19 | 4.69 | 4.58 | 4.59 | 16.50 | 13.46 | 14.07 | 13.68 |
| Cash Flow/Share | 0.31 | 0.55 | 1.26 | 1.07 | 0.31 | 0.87 | 2.14 | 5.76 | 5.02 | 4.94 | 11.93 |
| Dividends/Share | N/A | N/A | N/A | N/A | 0.00 | 0.00 | 0.02 | 0.37 | 0.71 | 0.60 | 0.58 |
| Shares Out. | 221.0M | 472.3M | 533.1M | 526.6M | 555.2M | 600.8M | 639.8M | 384.1M | 679.1M | 730.6M | 828.0M |
| Valuation | |||||||||||
| P/E Ratio | N/A | 55.6 | 12.7 | 63.6 | N/A | 12.0 | 4.9 | 10.0 | 9.1 | 10.7 | 24.7 |
| P/FCF | N/A | 62.9 | 9.3 | 4.3 | 5.2 | 6.7 | 4.2 | 2.5 | 2.9 | 3.0 | 5.4 |
| EV/EBIT | N/A | 41.4 | 11.3 | 25.7 | N/A | 6.7 | 8.1 | 12.5 | 7.0 | 9.1 | 14.8 |
| Price/Book | N/A | 1.5 | 0.8 | 0.3 | 0.1 | 0.6 | 2.1 | 1.6 | 1.0 | 1.0 | 1.6 |
| Price/Sales | N/A | 8.6 | 4.8 | 1.8 | 0.6 | 1.3 | 2.6 | 2.7 | 1.9 | 1.9 | 3.5 |
| FCF Yield | N/A | 3.2% | 21.6% | 46.5% | 38.5% | 29.9% | 19.7% | 18.9% | 34.6% | 33.4% | 18.4% |
| Market Cap | N/A | 4.2B | 2.5B | 1.0B | 384M | 1.7B | 6.1B | 10.0B | 9.0B | 10.0B | 17.7B |
| Avg. Price | N/A | 15.66 | 16.20 | 6.45 | 1.16 | 4.57 | 7.10 | 10.48 | 14.12 | 13.23 | 21.35 |
| Year-End Price | N/A | 17.78 | 9.56 | 3.82 | 1.38 | 5.54 | 7.91 | 12.41 | 13.26 | 13.75 | 21.35 |
Permian Resources Corp passes 6 of 9 quality checks, suggesting mixed fundamentals.
Permian Resources Corp trades at 16.7x trailing earnings, compared to its 15-year median P/E of 11.4x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 5.2x vs a median of 4.3x. The company's 5-year average ROIC is 12.7%. Total shareholder yield (dividends) is 2.7%. At current prices, the estimated annualized return to fair value is +21.2%.
Permian Resources Corp (PR) has a net profit margin of 18.5%. This is a healthy margin.
Permian Resources Corp (PR) generated $3.4 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Permian Resources Corp (PR) has a debt-to-equity ratio of 0.36. This indicates a conservatively financed balance sheet.
Permian Resources Corp (PR) reported earnings per share (EPS) of $1.28 in its most recent fiscal year.
Permian Resources Corp (PR) has a return on equity (ROE) of 9.6%. This indicates moderate shareholder returns.
The Ledger Terminal provides 10 years of financial data for Permian Resources Corp (PR), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Permian Resources Corp (PR) has a book value per share of $14.07, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects continued outsized free cash flow per share growth driven by consistent well productivity, meaningful cost reductions across the cost structure, and improved capital efficiency, with 2026 anticipated to deliver approximately 5% higher production than 2025 on $120 million lower CapEx. The company maintains operational flexibility to respond to macro uncertainty, with the ability to adjust activity levels and capital deployment based on commodity price environments while preserving the capacity to execute acquisitions in the $1–3 billion range within leverage comfort zones. Pipeline takeaway capacity agreements coming online in 2026 and expanding in 2027 are expected to further improve gas realizations and reduce Waha volatility exposure, with management expecting greater benefits from existing contracts beyond 2026 as additional optimization opportunities are realized. The company plans to continue drilling the same wells in the same areas with similar working interest and well mix, expecting 2026 productivity to be in line with or slightly better than 2024–2025 levels, supported by ongoing innovation and efficiency improvements in drilling and completion operations.
Based on recent SEC filings and earnings calls, Permian Resources Corp (PR) has provided the following forward guidance: Total production: 415,000 BOE per day (FY2026); Oil production: 189,000 barrels of oil per day (FY2026); Capital expenditures: $1.85 billion (FY2026); Drilling and completion cost per foot: $675 per foot (FY2026); Gas sales volumes with pipeline agreements: approximately 400 million cubic feet per day in 2026, increasing to roughly 700 million cubic feet per day in 2027 and beyond (FY2026 and FY2027+), plus 1 additional metric.
Gas net back improvement versus Waha (FY2026): “we now expect to realize a $0.50 premium to Waha this year”
No recent press releases.