PrimeEnergy Resources Corporation (PNRG) 10-Year Financial Performance & Capital Metrics

PNRG • • Industrial / General

EnergyOil & Gas E&PConventional Onshore E&PRegional Conventional Specialists

AboutPrimeEnergy Resources Corporation, an independent oil and natural gas company, through its subsidiaries, engages in acquiring, developing, and producing oil and natural gas properties in the United States. It also acquires producing oil and gas properties through joint ventures with industry partners; and provides contract services to third parties, including well-servicing support operations, site-preparation, and construction services for oil and gas drilling and reworking operations. The company operates approximately 710 active wells and owns non-operating interests in approximately 822 additional wells primarily in Oklahoma and Texas. The company was formerly known as PrimeEnergy Corporation and changed its name to PrimeEnergy Resources Corporation in December 2018. The company was incorporated in 1973 and is headquartered in Houston, Texas.Show more

Revenue $234M +90.0%
EBITDA $146M +157.4%
Net Income $55M +97.1%
EPS (Diluted) 21.95 +103.8%
Gross Margin 37.5% +13.4%
EBITDA Margin 62.44% +35.5%
Operating Margin 29.42% +44.5%
Net Margin 23.69% +3.8%
ROE 30.45% +63.2%
ROIC 28.48% +111.0%
Debt/Equity 0.04 +68.1%
Interest Coverage 44.51 -5.0%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Excellent 3Y average ROE of 29.9%
✓Strong 5Y profit CAGR of 74.0%
✓Strong Piotroski F-Score: 8/9
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 16.5%

✗Weaknesses

✗Negative free cash flow

Price & Volume

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Growth Metrics

Revenue CAGR

10Y6.31%

5Y16.5%

3Y41.58%

TTM-6.03%

Profit (Net Income) CAGR

10Y7.43%

5Y73.98%

3Y197.79%

TTM-57.29%

EPS CAGR

10Y9.72%

5Y77.38%

3Y206.81%

TTM-55.53%

ROCE

10Y Avg2.54%

5Y Avg6.61%

3Y Avg12.42%

Latest27.6%

Peer Comparison

Regional Conventional Specialists

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
TXOTXO Partners, L.P.	590.57M	10.78	16.58	-25.72%	4.62%	2.29%		0.26
BRYBerry Corporation	253M	3.26	13.04	-9.22%	-13.36%	-14.22%	42.64%	0.60
CRCCalifornia Resources Corporation	4.22B	47.21	10.22	5.12%	10.88%	11.15%	8.3%	0.35
SDSandRidge Energy, Inc.	537.26M	14.61	8.65	-15.71%	42.42%	13.43%	8.85%
PNRGPrimeEnergy Resources Corporation	280.08M	171.30	7.80	89.96%	12.85%	11.79%		0.04
TPETTrio Petroleum Corp.	10.02M	0.83	-0.19		-20.63%	-54.86%		0.10
BRNBarnwell Industries, Inc.	14.42M	1.15	-1.62	-100%	-42.31%	-76.43%		0.01

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	74.86M	60.36M	88.92M	116.86M	108.97M	52.44M	82.42M	93.27M	123.13M	233.89M
Revenue Growth %	-0.41%	-0.19%	0.47%	0.31%	-0.07%	-0.52%	0.57%	0.13%	0.32%	0.9%
Cost of Goods Sold+	84.4M	70.27M	78.94M	87.2M	85.06M	60.21M	59.9M	76.98M	82.41M	146.19M
COGS % of Revenue	1.13%	1.16%	0.89%	0.75%	0.78%	1.15%	0.73%	0.83%	0.67%	0.63%
Gross Profit+	-9.54M	-9.9M	9.98M	29.66M	23.91M	-7.77M	22.52M	16.29M	40.72M	87.7M
Gross Margin %	-0.13%	-0.16%	0.11%	0.25%	0.22%	-0.15%	0.27%	0.17%	0.33%	0.37%
Gross Profit Growth %	-1.27%	-0.04%	2.01%	1.97%	-0.19%	-1.33%	3.9%	-0.28%	1.5%	1.15%
Operating Expenses+	12.27M	7.85M	9.65M	13.55M	15.64M	15.03M	9.08M	20.23M	15.64M	18.88M
OpEx % of Revenue	0.16%	0.13%	0.11%	0.12%	0.14%	0.29%	0.11%	0.22%	0.13%	0.08%
Selling, General & Admin	12.27M	7.85M	9.65M	13.55M	15.64M	15.03M	9.08M	20.23M	15.64M	18.88M
SG&A % of Revenue	0.16%	0.13%	0.11%	0.12%	0.14%	0.29%	0.11%	0.22%	0.13%	0.08%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	0	0	0	0	0	0	0	0	0
Operating Income+	-21.81M	-17.75M	334K	16.11M	8.27M	-22.8M	13.44M	-3.94M	25.07M	68.82M
Operating Margin %	-0.29%	-0.29%	0%	0.14%	0.08%	-0.43%	0.16%	-0.04%	0.2%	0.29%
Operating Income Growth %	-2.02%	0.19%	1.02%	47.25%	-0.49%	-3.76%	1.59%	-1.29%	7.36%	1.74%
EBITDA+	9.74M	12.42M	36.4M	53.84M	44.43M	5.38M	39.76M	24.13M	56.73M	146.05M
EBITDA Margin %	0.13%	0.21%	0.41%	0.46%	0.41%	0.1%	0.48%	0.26%	0.46%	0.62%
EBITDA Growth %	-0.79%	0.28%	1.93%	0.48%	-0.17%	-0.88%	6.39%	-0.39%	1.35%	1.57%
D&A (Non-Cash Add-back)	31.55M	30.17M	36.07M	37.73M	36.16M	28.18M	26.32M	28.07M	31.66M	77.23M
EBIT	-16.45M	11.02M	41.99M	21.06M	8.71M	-978K	6.65M	59.9M	34.76M	72.72M
Net Interest Income+	-3.63M	-3.51M	-2.3M	-3.37M	-3.62M	-1.9M	-2.01M	-642K	-118K	-1.36M
Interest Income	2K	1K	7K	44K	19K	0	0	267K	417K	184K
Interest Expense	3.63M	3.51M	2.31M	3.41M	3.63M	1.9M	2.01M	909K	535K	1.55M
Other Income/Expense	2.01M	25.27M	39.35M	1.53M	-3.19M	19.92M	-8.79M	62.94M	9.15M	2.36M
Pretax Income+	-19.8M	7.52M	39.68M	17.64M	5.08M	-2.88M	4.64M	58.99M	34.22M	71.17M
Pretax Margin %	-0.26%	0.12%	0.45%	0.15%	0.05%	-0.05%	0.06%	0.63%	0.28%	0.3%
Income Tax+	-6.65M	2.1M	-7.75M	2.98M	1.42M	-517K	2.52M	10.33M	6.12M	15.77M
Effective Tax Rate %	0.65%	0.46%	1.06%	0.82%	0.68%	0.8%	0.45%	0.82%	0.82%	0.78%
Net Income+	-12.78M	3.44M	42M	14.53M	3.48M	-2.32M	2.1M	48.66M	28.1M	55.4M
Net Margin %	-0.17%	0.06%	0.47%	0.12%	0.03%	-0.04%	0.03%	0.52%	0.23%	0.24%
Net Income Growth %	-1.47%	1.27%	11.19%	-0.65%	-0.76%	-1.67%	1.91%	22.2%	-0.42%	0.97%
Net Income (Continuing)	-13.15M	5.42M	47.43M	14.66M	3.66M	-2.36M	2.13M	48.66M	28.1M	55.4M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	7.17M	7.33M	7.13M	3.99M	3.25M	874K	0	0	0	0
EPS (Diluted)+	-5.53	1.13	14.18	5.11	1.25	-1.16	0.76	17.95	10.77	21.95
EPS Growth %	-1.64%	1.2%	11.55%	-0.64%	-0.76%	-1.93%	1.66%	22.62%	-0.4%	1.04%
EPS (Basic)	-5.53	1.50	18.99	5.11	1.72	-1.16	1.05	24.91	15.19	31.43
Diluted Shares Outstanding	2.31M	3.05M	2.96M	2.84M	2.78M	1.99M	2.74M	2.71M	2.61M	2.52M
Basic Shares Outstanding	2.31M	2.29M	2.21M	2.05M	2.02M	1.99M	1.99M	1.95M	1.85M	1.76M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	24.16M	18.08M	26.63M	23.73M	16.4M	8.91M	25.33M	72.17M	31.78M	28.27M
Cash & Short-Term Investments	9.75M	6.57M	8.44M	6.32M	1.01M	996K	10.35M	26.54M	11.06M	2.55M
Cash Only	9.75M	6.57M	8.44M	6.32M	1.01M	996K	10.35M	26.54M	11.06M	2.55M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	9.54M	7.4M	16.96M	14.96M	14.36M	7.22M	14.21M	12.54M	20.3M	24.34M
Days Sales Outstanding	46.53	44.75	69.62	46.73	48.1	50.26	62.92	49.06	60.18	37.98
Inventory	4.67M	3.96M	756K	2.31M	897K	590K	733K	33.05M	0	0
Days Inventory Outstanding	20.18	20.54	3.5	9.69	3.85	3.58	4.47	156.71	-	-
Other Current Assets	3.71M	160K	476K	2.46M	127K	-486K	-693K	-32.8M	38K	1.38M
Total Non-Current Assets+	202.64M	196.57M	220.13M	231.32M	212.97M	191.57M	185.59M	174.97M	256.79M	296.35M
Property, Plant & Equipment	202.01M	196.37M	219.97M	230.43M	212.1M	191.05M	184.66M	173.99M	256.12M	295.84M
Fixed Asset Turnover	0.37x	0.31x	0.40x	0.51x	0.51x	0.27x	0.45x	0.54x	0.48x	0.79x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	0	0	0	713K	0	97K	0	0	0	0
Other Non-Current Assets	95K	-37.3M	-24.8M	-31.93M	-35.06M	-35.85M	-37.82M	-38.98M	673K	515K
Total Assets+	226.79M	214.65M	246.76M	255.05M	229.37M	200.48M	210.91M	247.14M	288.57M	324.62M
Asset Turnover	0.33x	0.28x	0.36x	0.46x	0.48x	0.26x	0.39x	0.38x	0.43x	0.72x
Asset Growth %	-0.14%	-0.05%	0.15%	0.03%	-0.1%	-0.13%	0.05%	0.17%	0.17%	0.12%
Total Current Liabilities+	22.98M	27.21M	47.17M	30.46M	15.59M	14.12M	21.72M	40.96M	64.81M	49.66M
Accounts Payable	11.96M	11.88M	24.55M	9.34M	6.63M	5.22M	7.28M	11.45M	15.42M	16.33M
Days Payables Outstanding	51.75	61.72	113.51	39.09	28.47	31.63	44.38	54.3	68.32	40.77
Short-Term Debt	3.06M	2.95M	2.38M	698K	0	487K	0	0	0	0
Deferred Revenue (Current)	390K	83K	67K	214K	205K	0	0	0	0	0
Other Current Liabilities	3.74M	6.41M	6.27M	4.68M	5.54M	4.92M	10.48M	13.5M	11.02M	10.87M
Current Ratio	1.05x	0.66x	0.56x	0.78x	1.05x	0.63x	1.17x	1.76x	0.49x	0.57x
Quick Ratio	0.85x	0.52x	0.55x	0.70x	0.99x	0.59x	1.13x	0.96x	0.49x	0.57x
Cash Conversion Cycle	14.97	3.57	-40.39	17.32	23.48	22.21	23.01	151.46	-	-
Total Non-Current Liabilities+	140.92M	121.57M	97.16M	118.59M	110.41M	88.37M	90.1M	65.83M	62.81M	72.04M
Long-Term Debt	92.58M	66.32M	48.46M	65.55M	53.5M	38.27M	36M	11M	0	4M
Capital Lease Obligations	0	0	0	0	0	0	0	0	0	0
Deferred Tax Liabilities	37.88M	37.5M	24.96M	32.83M	35.92M	36.37M	38.74M	39.97M	47.24M	53.41M
Other Non-Current Liabilities	10.45M	17.75M	23.73M	20.21M	20.99M	13.73M	15.36M	14.86M	15.57M	14.64M
Total Liabilities	163.89M	148.77M	144.33M	149.05M	126M	102.49M	111.82M	106.78M	127.62M	121.7M
Total Debt+	95.64M	69.27M	50.84M	66.25M	53.5M	38.75M	36M	11M	3.9M	8.26M
Net Debt	85.89M	59.15M	42.4M	59.93M	52.48M	37.76M	25.65M	-15.54M	-7.16M	5.71M
Debt / Equity	1.52x	1.05x	0.50x	0.62x	0.52x	0.40x	0.36x	0.08x	0.02x	0.04x
Debt / EBITDA	9.82x	5.58x	1.40x	1.23x	1.20x	7.21x	0.91x	0.46x	0.07x	0.06x
Net Debt / EBITDA	8.82x	4.76x	1.16x	1.11x	1.18x	7.02x	0.65x	-0.64x	-0.13x	0.04x
Interest Coverage	-6.01x	-5.06x	0.14x	4.72x	2.28x	-11.99x	6.70x	-4.34x	46.86x	44.51x
Total Equity+	62.9M	65.88M	102.44M	106M	103.36M	98M	99.09M	140.35M	160.95M	202.93M
Equity Growth %	-0.2%	0.05%	0.55%	0.03%	-0.02%	-0.05%	0.01%	0.42%	0.15%	0.26%
Book Value per Share	27.20	21.63	34.58	37.27	37.17	49.14	36.11	51.77	61.70	80.40
Total Shareholders' Equity	55.73M	58.55M	95.31M	102.01M	100.11M	97.12M	99.09M	140.35M	160.95M	202.93M
Common Stock	383K	383K	383K	281K	281K	281K	281K	281K	281K	281K
Retained Earnings	92.88M	96.32M	138.32M	125.64M	129.12M	126.8M	128.9M	177.57M	205.67M	261.07M
Treasury Stock	-45.38M	-46.47M	-52.12M	-31.3M	-36.79M	-37.5M	-37.65M	-45.05M	-52.55M	-65.98M
Accumulated OCI	-5K	0	0	0	0	0	0	0	0	0
Minority Interest	7.17M	7.33M	7.13M	3.99M	3.25M	874K	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	21.21M	11.01M	40.11M	39.07M	27.21M	16.38M	28.62M	33.13M	109.02M	115.91M
Operating CF Margin %	0.28%	0.18%	0.45%	0.33%	0.25%	0.31%	0.35%	0.36%	0.89%	0.5%
Operating CF Growth %	-0.62%	-0.48%	2.64%	-0.03%	-0.3%	-0.4%	0.75%	0.16%	2.29%	0.06%
Net Income	-13.15M	5.42M	47.43M	14.66M	3.66M	-2.36M	2.1M	48.66M	28.1M	55.4M
Depreciation & Amortization	31.55M	30.17M	36.07M	37.73M	36.16M	28.18M	26.32M	28.07M	31.66M	76.5M
Stock-Based Compensation	0	0	0	0	0	0	0	0	0	0
Deferred Taxes	-6.39M	147K	-12.54M	7.87M	3.1M	443K	2.38M	1.23M	7.27M	6.17M
Other Non-Cash Items	16.86M	3.58M	-41.8M	-8.99M	-1.8M	-15.65M	1.77M	-36.39M	-9.83M	-2.98M
Working Capital Changes	-6.27M	4.06M	10.95M	-12.2M	-13.9M	5.77M	-3.95M	-8.44M	51.82M	-19.18M
Change in Receivables	2.77M	2.14M	-9.56M	2M	601K	7.14M	-6.99M	2.1M	-8.1M	-3.78M
Change in Inventory	64K	61K	-9K	11K	0	0	0	0	0	0
Change in Payables	-3.54M	-390K	12.65M	-15.06M	-2.92M	-1.42M	2.06M	4.17M	3.97M	905K
Cash from Investing+	-12.62M	14.38M	-13.13M	-43.84M	-13.47M	339K	-19.25M	15.47M	-105.7M	-114.99M
Capital Expenditures	-14.55M	-20.84M	-59.36M	-47.07M	-18.05M	-10.52M	-20.73M	-15.97M	-113.78M	0
CapEx % of Revenue	0.19%	0.35%	0.67%	0.4%	0.17%	0.2%	0.25%	0.17%	0.92%	0.51%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	1.93M	35.23M	46.23M	3.23M	499K	742K	676K	0	8.08M	-114.99M
Cash from Financing+	-8.05M	-28.57M	-28.65M	2.65M	-19.04M	-16.74M	-18K	-32.4M	-18.8M	-9.43M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-443K	-1.07M	-5.22M	-3.15M	-811K	-799K	-873K	0	0	0
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	6.66M	-9.84M	-19.25M	-8.01M	9.16M	5.86M	7.89M	17.15M	-4.76M	-3.33M
FCF Margin %	0.09%	-0.16%	-0.22%	-0.07%	0.08%	0.11%	0.1%	0.18%	-0.04%	-0.01%
FCF Growth %	-0.62%	-2.48%	-0.96%	0.58%	2.14%	-0.36%	0.35%	1.17%	-1.28%	0.3%
FCF per Share	2.88	-3.23	-6.50	-2.82	3.30	2.94	2.88	6.33	-1.83	-1.32
FCF Conversion (FCF/Net Income)	-1.66x	3.20x	0.95x	2.69x	7.83x	-7.07x	13.64x	0.68x	3.88x	2.09x
Interest Paid	3.69M	3.48M	2.34M	3.54M	3.66M	2.05M	1.96M	842K	569K	1.03M
Taxes Paid	410K	120K	414K	2.13M	65K	1K	343K	539K	9.01M	113K

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-18.11%	5.35%	49.9%	13.94%	3.32%	-2.3%	2.13%	40.65%	18.65%	30.45%
Return on Invested Capital (ROIC)	-10.25%	-9.6%	0.18%	7.78%	3.86%	-11.73%	7.74%	-2.37%	13.5%	28.48%
Gross Margin	-12.75%	-16.41%	11.22%	25.38%	21.94%	-14.82%	27.33%	17.47%	33.07%	37.5%
Net Margin	-17.08%	5.71%	47.23%	12.43%	3.19%	-4.42%	2.55%	52.18%	22.82%	23.69%
Debt / Equity	1.52x	1.05x	0.50x	0.62x	0.52x	0.40x	0.36x	0.08x	0.02x	0.04x
Interest Coverage	-6.01x	-5.06x	0.14x	4.72x	2.28x	-11.99x	6.70x	-4.34x	46.86x	44.51x
FCF Conversion	-1.66x	3.20x	0.95x	2.69x	7.83x	-7.07x	13.64x	0.68x	3.88x	2.09x
Revenue Growth	-41%	-19.36%	47.3%	31.43%	-6.75%	-51.88%	57.17%	13.17%	32.01%	89.96%

Revenue by Segment

	2018	2019	2020	2021	2022	2023	2024
Oil Sales	-	-	-	-	-	87.91M	193.74M
Oil Sales Growth	-	-	-	-	-	-	120.39%
Natural Gas Liquid	8.59M	9.11M	4.91M	11.22M	14.89M	11.9M	26M
Natural Gas Liquid Growth	-	6.05%	-46.15%	128.70%	32.68%	-20.06%	118.44%
Oil and Gas Service	17.73M	-	-	11.81M	12.98M	15.38M	10.85M
Oil and Gas Service Growth	-	-	-	-	9.93%	18.53%	-29.45%
Natural Gas, Production	-	-	-	-	-	-	3.31M
Natural Gas, Production Growth	-	-	-	-	-	-	-
Naturals Gas	12.86M	6.54M	4.2M	11.43M	18.43M	7.93M	-
Naturals Gas Growth	-	-49.15%	-35.74%	172.06%	61.20%	-56.94%	-
Oil sales	-	68.37M	27.86M	50.47M	90.8M	-	-
Oil sales Growth	-	-	-59.24%	81.14%	79.90%	-	-
Administrative Service	5.72M	5.66M	4.16M	4.61M	-	-	-
Administrative Service Growth	-	-1.07%	-26.44%	10.76%	-	-	-
Oil and Gas	71.77M	-	-	-	-	-	-
Oil and Gas Growth	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

PrimeEnergy Resources Corporation (PNRG) has a price-to-earnings (P/E) ratio of 7.8x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

PrimeEnergy Resources Corporation (PNRG) reported $196.1M in revenue for fiscal year 2024. This represents a 63% increase from $120.3M in 2011.

PrimeEnergy Resources Corporation (PNRG) grew revenue by 90.0% over the past year. This is strong growth.

Yes, PrimeEnergy Resources Corporation (PNRG) is profitable, generating $25.2M in net income for fiscal year 2024 (23.7% net margin).

Dividend & Returns

PrimeEnergy Resources Corporation (PNRG) has a return on equity (ROE) of 30.5%. This is excellent, indicating efficient use of shareholder capital.

PrimeEnergy Resources Corporation (PNRG) generated $19.6M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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