Evolution Petroleum Corporation (EPM) 10-Year Financial Performance & Capital Metrics

EPM • • Industrial / General

EnergyOil & Gas E&PSpecialized & Niche OperatorsEnhanced Recovery Specialists

AboutEvolution Petroleum Corporation, an oil and natural gas company, engages in the development, production, ownership, and management of oil and gas properties in the United States. The company holds interests in a CO2 enhanced oil recovery project in Louisiana's Delhi field. Its Delhi Holt-Bryant Unit covers an area of 13,636 acres located in Northeast Louisiana. The company also holds interests in the Hamilton Dome field covering 5,908 acres located in Wyoming; and Barnett Shale field covering an area of 123,777 acres located in North Texas. Evolution Petroleum Corporation was founded in 2003 and is based in Houston, Texas.Show more

Revenue $86M
EBITDA $26M -6.4%
Net Income $1M -63.9%
EPS (Diluted) 0.03 -72.3%
Gross Margin 16.9% -23.6%
EBITDA Margin 30.48% -6.4%
Operating Margin 4.86% -47.2%
Net Margin 1.72% -63.9%
ROE 1.93% -59.1%
ROIC 2.83% -53.3%
Debt/Equity 0.52 +7.0%
Interest Coverage 1.41 -74.1%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 23.7%
✓Good 3Y average ROE of 16.2%

✗Weaknesses

✗Profits declining 24.3% over 5 years
✗Weak momentum: RS Rating 11 (bottom 11%)
✗Dividend payout exceeds 100% of earnings
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y11.92%

5Y23.73%

3Y-7.63%

TTM-2.23%

Profit (Net Income) CAGR

10Y-11.49%

5Y-24.33%

3Y-64.39%

TTM-95.03%

EPS CAGR

10Y-12.76%

5Y-28.69%

3Y-67.42%

TTM-105.57%

ROCE

10Y Avg12.76%

5Y Avg13.73%

3Y Avg15.57%

Latest2.92%

Peer Comparison

Enhanced Recovery Specialists

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
EPMEvolution Petroleum Corporation	126.27M	3.64	109.64	-0.04%	0.27%	0.34%	9.04%	0.52
GFRGreenfire Resources Ltd.	624.51M	4.98	2.93	17.01%	27.69%	22.82%	9.15%	0.41
IMPPImperial Petroleum Inc.	140.55M	3.88	2.77	-19.73%	29.79%	8.54%	2.15%	0.00
VIVKVivakor, Inc.	2.23M	0.01	-0.01	51.4%	-55.68%	-108.78%		0.70
SAFXXCF Global, Inc. Class A Common Stock	29.37M	0.14	-0.20		6.04%	18.68%		0.17
CLMTCalumet, Inc.	1.78B	20.56	-7.70	0.2%	-0.92%
NEXTNextDecade Corporation	1.35B	5.08	-21.17			-9.79%		2.33

Profit & Loss

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Sales/Revenue+	26.35M	34.48M	41.28M	43.23M	29.6M	32.7M	108.93M	128.51M	85.88M	85.84M
Revenue Growth %	-0.05%	0.31%	0.2%	0.05%	-0.32%	0.1%	2.33%	0.18%	-0.33%	-0%
Cost of Goods Sold+	14.3M	16.56M	18.21M	20.52M	19.12M	21.54M	56.18M	72.69M	66.88M	71.33M
COGS % of Revenue	0.54%	0.48%	0.44%	0.47%	0.65%	0.66%	0.52%	0.57%	0.78%	0.83%
Gross Profit+	12.05M	17.93M	23.08M	22.71M	10.48M	11.16M	52.75M	55.83M	19M	14.51M
Gross Margin %	0.46%	0.52%	0.56%	0.53%	0.35%	0.34%	0.48%	0.43%	0.22%	0.17%
Gross Profit Growth %	-0.19%	0.49%	0.29%	-0.02%	-0.54%	0.06%	3.73%	0.06%	-0.66%	-0.24%
Operating Expenses+	5.32M	5.05M	6.86M	5.07M	6.79M	31.9M	7.37M	10.71M	11.09M	10.33M
OpEx % of Revenue	0.2%	0.15%	0.17%	0.12%	0.23%	0.98%	0.07%	0.08%	0.13%	0.12%
Selling, General & Admin	5.27M	4.99M	6.77M	5.07M	5.26M	6.75M	6.83M	9.58M	9.64M	10.33M
SG&A % of Revenue	0.2%	0.14%	0.16%	0.12%	0.18%	0.21%	0.06%	0.07%	0.11%	0.12%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	49.05K	59.66K	90.29K	0	1.53M	25.15M	531K	1.13M	1.46M	0
Operating Income+	1.67M	12.88M	16.21M	17.64M	3.69M	-20.74M	45.38M	45.11M	7.91M	4.17M
Operating Margin %	0.06%	0.37%	0.39%	0.41%	0.12%	-0.63%	0.42%	0.35%	0.09%	0.05%
Operating Income Growth %	-0.81%	6.73%	0.26%	0.09%	-0.79%	-6.62%	3.19%	-0.01%	-0.82%	-0.47%
EBITDA+	6.88M	18.66M	22.31M	23.89M	9.45M	-15.58M	53.43M	59.39M	27.97M	26.17M
EBITDA Margin %	0.26%	0.54%	0.54%	0.55%	0.32%	-0.48%	0.49%	0.46%	0.33%	0.3%
EBITDA Growth %	-0.44%	1.71%	0.2%	0.07%	-0.6%	-2.65%	4.43%	0.11%	-0.53%	-0.06%
D&A (Non-Cash Add-back)	5.21M	5.78M	6.1M	6.25M	5.76M	5.17M	8.05M	14.27M	20.06M	21.99M
EBIT	34.23M	12.97M	16.21M	18.98M	3.87M	-21.32M	41.71M	45.75M	6.96M	4.84M
Net Interest Income+	-44.73K	-24.9K	-25.13K	122.6K	66.64K	-63K	-477K	-337K	-1.12M	-2.78M
Interest Income	26.21K	56.85K	85.65K	239.15K	177.42K	40K	95K	121K	342K	191K
Interest Expense	70.94K	81.76K	110.78K	116.55K	110.78K	103K	572K	458K	1.46M	2.97M
Other Income/Expense	32.57M	4.86K	-25.13K	1.22M	66.64K	-678K	-4.24M	176K	-2.41M	-2.31M
Pretax Income+	34.23M	12.88M	16.19M	18.86M	3.76M	-21.42M	41.14M	45.29M	5.5M	1.87M
Pretax Margin %	1.3%	0.37%	0.39%	0.44%	0.13%	-0.66%	0.38%	0.35%	0.06%	0.02%
Income Tax+	9.57M	4.84M	-3.43M	3.48M	-2.18M	-4.98M	8.51M	10.07M	1.42M	396K
Effective Tax Rate %	0.72%	0.62%	1.21%	0.82%	1.58%	0.77%	0.79%	0.78%	0.74%	0.79%
Net Income+	24.66M	8.04M	19.62M	15.38M	5.94M	-16.44M	32.63M	35.22M	4.08M	1.47M
Net Margin %	0.94%	0.23%	0.48%	0.36%	0.2%	-0.5%	0.3%	0.27%	0.05%	0.02%
Net Income Growth %	3.94%	-0.67%	1.44%	-0.22%	-0.61%	-3.77%	2.98%	0.08%	-0.88%	-0.64%
Net Income (Continuing)	24.66M	8.04M	19.62M	15.38M	5.94M	-16.44M	32.63M	35.22M	4.08M	1.47M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	0.73	0.21	0.59	0.46	0.18	-0.50	0.96	1.04	0.12	0.03
EPS Growth %	4.62%	-0.71%	1.81%	-0.22%	-0.61%	-3.78%	2.92%	0.08%	-0.88%	-0.72%
EPS (Basic)	0.73	0.21	0.59	0.46	0.18	-0.50	0.97	1.05	0.12	0.03
Diluted Shares Outstanding	32.86M	33.11M	33.18M	33.17M	33.03M	32.74M	33.31M	33.19M	32.9M	33.32M
Basic Shares Outstanding	32.81M	33.03M	33.13M	33.16M	33.03M	33.26M	32.95M	32.98M	32.69M	33.16M
Dividend Payout Ratio	0.27%	1.05%	0.59%	0.86%	1.81%	-	0.36%	0.46%	3.93%	11.1%

Balance Sheet

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Total Current Assets+	37.09M	26.14M	32.15M	35.18M	25.32M	18.11M	36.37M	21.2M	21.72M	17.38M
Cash & Short-Term Investments	34.08M	23.03M	24.93M	31.55M	19.66M	5.28M	8.28M	11.03M	6.45M	2.51M
Cash Only	34.08M	23.03M	24.93M	31.55M	19.66M	5.28M	8.28M	11.03M	6.45M	2.51M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	2.64M	2.73M	3.94M	3.17M	1.92M	11.79M	26.69M	7.9M	11.19M	11.03M
Days Sales Outstanding	36.54	28.86	34.85	26.75	23.67	131.65	89.44	22.44	47.57	46.9
Inventory	119.45K	0	2.75M	0	0	0	0	0	-347K	0
Days Inventory Outstanding	3.05	-	55.16	-	-	-	-	-	-	-
Other Current Assets	119.45K	0	2.75M	0	3.33M	573K	170K	727K	1.29M	1.78M
Total Non-Current Assets+	60.36M	62.13M	61.51M	60.58M	66.82M	59.86M	111.68M	111.46M	141.15M	142.88M
Property, Plant & Equipment	60M	61.83M	61.27M	60.37M	66.65M	58.6M	110.53M	105.96M	139.82M	142.31M
Fixed Asset Turnover	0.44x	0.56x	0.67x	0.72x	0.44x	0.56x	0.99x	1.21x	0.61x	0.60x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	101.73K	88.17K	93.88K	74.24K	53.79K	0	0	0	0	0
Long-Term Investments	108.75K	108.75K	108.75K	108.75K	108.75K	0	0	0	0	365K
Other Non-Current Assets	49.69K	-15.73M	-10.51M	210.03K	11.89K	0	1.15M	1.16M	1.33M	206K
Total Assets+	97.45M	88.27M	93.66M	95.76M	92.14M	77.97M	148.05M	132.65M	162.88M	160.25M
Asset Turnover	0.27x	0.39x	0.44x	0.45x	0.32x	0.42x	0.74x	0.97x	0.53x	0.54x
Asset Growth %	0.39%	-0.09%	0.06%	0.02%	-0.04%	-0.15%	0.9%	-0.1%	0.23%	-0.02%
Total Current Liabilities+	8.53M	2.72M	4.43M	2.75M	4.28M	6.59M	30.29M	12.28M	15.81M	21.39M
Accounts Payable	5.81M	2.1M	3.43M	2.08M	1.47M	1.61M	15.13M	5.89M	8.31M	12.9M
Days Payables Outstanding	148.29	46.32	68.82	37.07	28.09	27.33	98.32	29.58	45.34	66.01
Short-Term Debt	0	0	0	0	0	64K	0	59K	0	0
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	1.56M	-71.69K	158.3K	181.04K	2.36M	4.25M	4.06M	5.03M	2.4M	3.34M
Current Ratio	4.35x	9.62x	7.26x	12.78x	5.92x	2.75x	1.20x	1.73x	1.37x	0.81x
Quick Ratio	4.33x	9.62x	6.64x	12.78x	5.92x	2.75x	1.20x	1.73x	1.40x	0.81x
Cash Conversion Cycle	-108.7	-	21.19	-	-	-	-	-	-	-
Total Non-Current Liabilities+	12.6M	17.08M	11.94M	12.88M	13.73M	16.78M	42.25M	28.27M	65.94M	67.05M
Long-Term Debt	0	0	0	0	0	4M	21.25M	0	39.5M	37.5M
Capital Lease Obligations	0	0	0	0	84.98K	21K	0	125K	58K	0
Deferred Tax Liabilities	11.84M	15.83M	10.56M	11.32M	0	7.22M	7.1M	11.14M	6.7M	6.23M
Other Non-Current Liabilities	760.3K	1.25M	1.39M	1.56M	13.65M	5.54M	13.9M	17.01M	19.68M	23.32M
Total Liabilities	21.13M	19.8M	16.37M	15.64M	18.01M	23.37M	72.53M	40.56M	81.75M	88.44M
Total Debt+	0	0	0	0	139.27K	4.08M	21.28M	184K	39.66M	37.57M
Net Debt	-34.08M	-23.03M	-24.93M	-31.55M	-19.52M	-1.19M	13M	-10.85M	33.21M	35.06M
Debt / Equity	-	-	-	-	0.00x	0.07x	0.28x	0.00x	0.49x	0.52x
Debt / EBITDA	-	-	-	-	0.01x	-	0.40x	0.00x	1.42x	1.44x
Net Debt / EBITDA	-4.95x	-1.23x	-1.12x	-1.32x	-2.07x	-	0.24x	-0.18x	1.19x	1.34x
Interest Coverage	23.47x	157.54x	146.34x	151.33x	33.31x	-201.40x	79.34x	98.50x	5.42x	1.41x
Total Equity+	76.32M	68.47M	77.29M	80.13M	74.12M	54.59M	75.51M	92.09M	81.13M	71.81M
Equity Growth %	0.57%	-0.1%	0.13%	0.04%	-0.07%	-0.26%	0.38%	0.22%	-0.12%	-0.11%
Book Value per Share	2.32	2.07	2.33	2.42	2.24	1.67	2.27	2.77	2.47	2.16
Total Shareholders' Equity	76.32M	68.47M	77.29M	80.13M	74.12M	54.59M	75.51M	92.09M	81.13M	71.81M
Common Stock	32.91K	33.09K	33.08K	33.18K	32.96K	34K	33K	33K	33K	34K
Retained Earnings	29.12M	27.47M	35.5M	37.6M	32.8M	12.02M	32.85M	51.96M	40M	25.13M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-17.64M	-23.27M	-29.27M	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Cash from Operations+	30.65M	16.49M	20.54M	24.06M	12.4M	4.73M	52.46M	51.27M	22.73M	33.05M
Operating CF Margin %	1.16%	0.48%	0.5%	0.56%	0.42%	0.14%	0.48%	0.4%	0.26%	0.39%
Operating CF Growth %	1.95%	-0.46%	0.25%	0.17%	-0.48%	-0.62%	10.08%	-0.02%	-0.56%	0.45%
Net Income	24.66M	8.04M	19.62M	15.38M	5.94M	-16.44M	32.63M	35.22M	4.08M	1.47M
Depreciation & Amortization	5.21M	5.78M	6.07M	6.27T	5.76M	5.17M	8.05M	14.27M	20.06M	21.99M
Stock-Based Compensation	1.75M	1.18M	1.37M	888.16K	1.29M	1.26M	125K	1.64M	2.14M	2.48M
Deferred Taxes	575.24K	4.09M	-5.27M	767.26K	-261.67K	-5.1M	1.14M	-296K	-101K	-468K
Other Non-Cash Items	-3.31M	-128K	90.29K	-6.27T	2.14M	22.67M	2.9M	-3.09M	940K	-152K
Working Capital Changes	1.76M	-2.47M	-1.34M	757.18K	-2.47M	-2.82M	7.61M	3.53M	-4.39M	7.72M
Change in Receivables	484.29K	-88.51K	-1.22M	773.8B	-1.99M	-6.63M	-11.43M	18.44M	0	75K
Change in Inventory	-28.1M	-24.18M	1.22M	-773.8B	0	0	0	0	0	0
Change in Payables	822.73K	-1.63M	-107.08K	-90.89K	-486.01K	4.5M	18.52M	-13.49M	374K	4.8M
Cash from Investing+	-17.63M	-10.46M	-3.72M	-6.76M	-11.06M	-18.77M	-54.87M	-6.99M	-49.63M	-21.64M
Capital Expenditures	-21.1M	-10.19M	-3.7M	-6.76M	-11.06M	-18.3M	-53.34M	-31K	-49.63M	-9.02M
CapEx % of Revenue	0.8%	0.3%	0.09%	0.16%	0.37%	0.56%	0.49%	0%	0.58%	0.11%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-161.34K	-272.32K	-19.28K	-6.76T	0	-472K	-1.53M	-6.96M	0	-12.62M
Cash from Financing+	935.41K	-17.08M	-12.17M	-13.43M	-13.22M	-349K	5.42M	-41.53M	22.32M	-15.35M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-7.24M	-8.68M	-11.59M	-13.27M	-10.74M	-4.34M	-11.8M	-16.11M	-16.04M	-16.35M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	9.53M	0	0	0	0	0	0	0	0	-400K
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	9.55M	6.3M	16.84M	17.3M	1.33M	-14.04M	-2.41M	44.28M	-26.9M	11.41M
FCF Margin %	0.36%	0.18%	0.41%	0.4%	0.05%	-0.43%	-0.02%	0.34%	-0.31%	0.13%
FCF Growth %	0.84%	-0.34%	1.67%	0.03%	-0.92%	-11.52%	0.83%	19.35%	-1.61%	1.42%
FCF per Share	0.29	0.19	0.51	0.52	0.04	-0.43	-0.07	1.33	-0.82	0.34
FCF Conversion (FCF/Net Income)	1.24x	2.05x	1.05x	1.56x	2.09x	-0.29x	1.61x	1.46x	5.57x	22.44x
Interest Paid	0	0	0	0	76.39K	86K	523K	498K	1.33M	3.08M
Taxes Paid	540K	1.5M	1.83M	2.76M	1.24M	758K	6.29M	11.88M	2.8M	874K

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	39.49%	11.11%	26.92%	19.54%	7.7%	-25.54%	50.15%	42.02%	4.71%	1.93%
Return on Invested Capital (ROIC)	3.53%	22.03%	24.86%	26.21%	5.36%	-28.81%	47.97%	39.86%	6.06%	2.83%
Gross Margin	45.74%	51.99%	55.9%	52.53%	35.4%	34.12%	48.42%	43.44%	22.12%	16.9%
Net Margin	93.59%	23.33%	47.52%	35.57%	20.06%	-50.27%	29.95%	27.4%	4.75%	1.72%
Debt / Equity	-	-	-	-	0.00x	0.07x	0.28x	0.00x	0.49x	0.52x
Interest Coverage	23.47x	157.54x	146.34x	151.33x	33.31x	-201.40x	79.34x	98.50x	5.42x	1.41x
FCF Conversion	1.24x	2.05x	1.05x	1.56x	2.09x	-0.29x	1.61x	1.46x	5.57x	22.44x
Revenue Growth	-5.36%	30.87%	19.71%	4.72%	-31.53%	10.48%	233.09%	17.98%	-33.18%	-0.04%

Revenue by Segment

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Crude Oil	26.13M	33.55M	38.15M	40.78M	28.58M	26.41M	52.68M	51.04M	53.45M	51.1M
Crude Oil Growth	-	28.40%	13.72%	6.88%	-29.92%	-7.59%	99.47%	-3.11%	4.71%	-4.39%
Natural Gas	2.9K	-4	-	1.21K	2.07K	2.63M	39.17M	63.8M	21.52M	23.52M
Natural Gas Growth	-	-100.14%	-	-	70.91%	127015.28%	1390.22%	62.86%	-66.26%	9.25%
Natural Gas Liquids	7.88K	934.2K	3.13M	2.45M	1.02M	3.66M	17.07M	13.67M	10.91M	11.22M
Natural Gas Liquids Growth	-	11747.84%	234.81%	-21.69%	-58.42%	259.65%	366.05%	-19.91%	-20.22%	2.90%
Artificial Lift Technology	207.96K	-	-	-	-	-	-	-	-	-
Artificial Lift Technology Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Evolution Petroleum Corporation (EPM) has a price-to-earnings (P/E) ratio of 109.6x. This suggests investors expect higher future growth.

Growth & Financials

Evolution Petroleum Corporation (EPM) reported $85.2M in revenue for fiscal year 2025. This represents a 375% increase from $18.0M in 2012.

Evolution Petroleum Corporation (EPM) saw revenue decline by 0.0% over the past year.

Yes, Evolution Petroleum Corporation (EPM) is profitable, generating $0.2M in net income for fiscal year 2025 (1.7% net margin).

Dividend & Returns

Yes, Evolution Petroleum Corporation (EPM) pays a dividend with a yield of 13.48%. This makes it attractive for income-focused investors.

Evolution Petroleum Corporation (EPM) has a return on equity (ROE) of 1.9%. This is below average, suggesting room for improvement.

Evolution Petroleum Corporation (EPM) had negative free cash flow of $6.1M in fiscal year 2025, likely due to heavy capital investments.

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