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BATL logoBattalion Oil Corporation(BATL)Earnings, Financials & Key Ratios

BATL•AMEX
$3.47
$57M mkt cap·Price updated May 6, 2026
SectorEnergyIndustryOil & Gas E&PSub-IndustryU.S. shale oil focused producers
AboutBattalion Oil Corporation, an independent energy company, engages in the acquisition, production, exploration, and development of onshore oil and natural gas assets in the United States. As of December 31, 2021, the company held interests in 40,400 net acres in the Delaware Basin located in the counties of Pecos, Reeves, Ward, and Winkler, Texas. It also had estimated proved reserves of approximately 95.9 million barrels of oil equivalent comprising 58.7 million barrels of crude oil, 16.3 million barrels of natural gas liquids, and 125.0 billion cubic feet of natural gas. The company was formerly known as Halcón Resources Corporation and changed its name to Battalion Oil Corporation in January 2020. Battalion Oil Corporation was founded in 1987 and is headquartered in Houston, Texas.Show more
  • Revenue$165M-14.9%
  • EBITDA-$7M-116.1%
  • Net Income$12M+137.3%
  • EPS (Diluted)-2.24+42.6%
  • Gross Margin72.84%+78.2%
  • EBITDA Margin-4.02%-118.9%
  • Operating Margin-4.02%+33.6%
  • Net Margin7.2%+143.8%
  • ROE15.96%+189.2%
  • ROIC-3.43%-25.1%
Technical→

BATL Key Insights

Battalion Oil Corporation (BATL) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Strong Piotroski F-Score: 8/9
  • ✓FCF machine: 23.7% free cash flow margin
  • ✓Momentum leader: RS Rating 96 (top 4%)
  • ✓High quality earnings: Operating CF exceeds net income

✗Weaknesses

  • ✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

BATL Price & Volume

Battalion Oil Corporation (BATL) stock price & volume — 10-year historical chart

Loading chart...

BATL Growth Metrics

Battalion Oil Corporation (BATL) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-11.35%
5 Years2.15%
3 Years-22.84%
TTM-14.92%

Profit CAGR

10 Years-
5 Years-
3 Years-13.79%
TTM137.26%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM48.03%

Return on Capital

10 Years-1.01%
5 Years18.13%
3 Years0.04%
Last Year-1.77%

BATL Recent Earnings

Battalion Oil Corporation (BATL) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 0/12 qtrs (0%)●Beat Revenue 4/12 qtrs (50%)
Q2 2026Latest
Mar 23, 2026
EPS
$1.16
Revenue
$32M
Q4 2025
Nov 13, 2025
EPS
$0.96
Revenue
$43M
Q3 2025
Aug 14, 2025
EPS
$0.65
Revenue
$43M
Q2 2025
May 14, 2025
EPS
$1.00
Revenue
$47M
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMar 23, 2026
$1.16
$32M
Q4 2025Nov 13, 2025
$0.96
$43M
Q3 2025Aug 14, 2025
$0.65
$43M
Q2 2025May 14, 2025
$1.00
$47M
Based on last 12 quarters of dataView full earnings history →

BATL Peer Comparison

Battalion Oil Corporation (BATL) competitors in U.S. shale oil focused producers — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
CIVI logoCIVICivitas Resources, Inc.Direct Competitor2.34B27.383.2449.76%13.56%9.55%38.25%0.68
TPVG logoTPVGTriplePoint Venture Growth BDC Corp.Direct Competitor221.89M5.484.4936.55%50.62%14.02%1.33
SD logoSDSandRidge Energy, Inc.Direct Competitor568.93M15.468.1424.8%44.9%14.41%5.7%
MTDR logoMTDRMatador Resources CompanyDirect Competitor7.91B62.9310.336.25%20.55%12.66%30.64%0.35
MGY logoMGYMagnolia Oil & Gas CorporationProduct Competitor5.76B30.8615.917.25%24.79%5.49%7.5%0.21
VTLE logoVTLEVital Energy, Inc.Product Competitor693.32M17.92-3.7826.15%-69.28%-74.84%0.95
NOG logoNOGNorthern Oil and Gas, Inc.Product Competitor2.82B26.6568.33-3.18%-30.26%-29.09%8.97%1.13
HAL logoHALHalliburton CompanySupply Chain34.84B41.7227.81-3.31%6.95%14.59%4.8%0.77

Compare BATL vs Peers

Battalion Oil Corporation (BATL) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs CIVI

Most directly comparable listed peer for BATL.

Scale Benchmark

vs XOM

Larger-name benchmark to compare BATL against a more recognizable public peer.

Peer Set

Compare Top 5

vs CIVI, TPVG, SD, MTDR

BATL Income Statement

Battalion Oil Corporation (BATL) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Sales/Revenue377.96M226.61M224.69M148.29M285.2M359.06M220.76M193.89M164.96M
Revenue Growth %-9.59%-40.04%-0.85%-34%92.33%25.9%-38.52%-12.17%-14.92%
Cost of Goods Sold193.69M111.18M170.56M107.87M104.92M125.18M120.58M114.65M44.8M
COGS % of Revenue51.25%49.06%75.91%72.74%36.79%34.86%54.62%59.13%27.16%
Gross Profit
184.28M▲ 0%
115.43M▼ 37.4%
54.12M▼ 53.1%
40.42M▼ 25.3%
180.28M▲ 346.0%
233.89M▲ 29.7%
100.18M▼ 57.2%
79.24M▼ 20.9%
120.16M▲ 51.6%
Gross Margin %48.75%50.94%24.09%27.26%63.21%65.14%45.38%40.87%72.84%
Gross Profit Growth %82.05%-37.36%-53.11%-25.31%346.02%29.73%-57.17%-20.91%51.64%
Operating Expenses182.89M134.93M1.11B302.25M76.91M81.75M82.6M90.98M127.88M
OpEx % of Revenue48.39%59.54%492.29%203.83%26.97%22.77%37.42%46.92%77.52%
Selling, General & Admin111.35M62.06M41.66M18.46M16.51M17.64M19.02M18.36M14.62M
SG&A % of Revenue29.46%27.38%18.54%12.45%5.79%4.91%8.62%9.47%8.86%
Research & Development000000000
R&D % of Revenue---------
Other Operating Expenses40.78M72.41M1.06B283.8M60.4M64.12M63.58M72.63M113.25M
Operating Income
715.42M▲ 0%
92.14M▼ 87.1%
-1.05B▼ 1241.7%
-261.83M▲ 75.1%
103.37M▲ 139.5%
152.14M▲ 47.2%
17.58M▼ 88.4%
-11.74M▼ 166.8%
-6.64M▲ 43.5%
Operating Margin %189.28%40.66%-468.2%-176.57%36.25%42.37%7.96%-6.06%-4.02%
Operating Income Growth %1279.98%-87.12%-1241.72%75.11%139.48%47.17%-88.44%-166.8%43.49%
EBITDA825.63M169.67M-941.07M-199.78M148.78M204.05M74.21M41.18M-6.64M
EBITDA Margin %218.44%74.87%-418.84%-134.72%52.17%56.83%33.61%21.24%-4.02%
EBITDA Growth %672.89%-79.45%-654.66%78.77%174.47%37.15%-63.63%-44.5%-116.12%
D&A (Non-Cash Add-back)110.21M77.53M110.91M62.05M45.41M51.91M56.62M52.93M0
EBIT601.78M184.76M-1.11B-223.07M-20.3M42.13M30.27M-16.93M0
Net Interest Income-71.1M-43.02M-38.88M-6.63M-8.02M-23.59M-33.32M-26.89M0
Interest Income00000002.12M0
Interest Expense71.1M43.02M38.88M6.63M8.02M23.59M33.32M29.01M-26.75M
Other Income/Expense-184.74M49.61M-94.96M32.13M-131.69M-133.6M-20.63M-20.14M18.52M
Pretax Income
530.69M▲ 0%
141.75M▼ 73.3%
-1.15B▼ 909.1%
-229.71M▲ 80.0%
-28.32M▲ 87.7%
18.54M▲ 165.5%
-3.05M▼ 116.4%
-31.88M▼ 946.0%
11.88M▲ 137.3%
Pretax Margin %140.41%62.55%-510.46%-154.9%-9.93%5.16%-1.38%-16.44%7.2%
Income Tax-5M95.79M-95.79M000000
Effective Tax Rate %-0.94%67.58%8.35%0%0%0%0%0%0%
Net Income
535.69M▲ 0%
45.96M▼ 91.4%
-1.05B▼ 2387.1%
-229.71M▲ 78.1%
-28.32M▲ 87.7%
18.54M▲ 165.5%
-3.05M▼ 116.4%
-31.88M▼ 946.0%
11.88M▲ 137.3%
Net Margin %141.73%20.28%-467.83%-154.9%-9.93%5.16%-1.38%-16.44%7.2%
Net Income Growth %214.65%-91.42%-2387.14%78.15%87.67%165.47%-116.44%-946%137.26%
Net Income (Continuing)535.69M45.96M-1.05B-229.71M-28.32M18.54M-3.05M-31.88M11.88M
Discontinued Operations000000000
Minority Interest000000000
EPS (Diluted)
36.50▲ 0%
2.90▼ 92.1%
-85.30▼ 3041.4%
-14.18▲ 83.4%
-1.74▲ 87.7%
1.12▲ 164.4%
-0.92▼ 182.1%
-3.90▼ 323.9%
-2.24▲ 42.6%
EPS Growth %167.34%-92.05%-3041.38%83.38%87.73%164.37%-182.14%-323.91%42.56%
EPS (Basic)36.702.90-85.30-14.18-1.741.14-0.92-3.90-2.24
Diluted Shares Outstanding13.36M15.73M12.32M16.2M16.26M16.51M16.44M16.46M16.46M
Basic Shares Outstanding13.28M15.7M12.32M16.2M16.26M16.33M16.44M16.46M16.46M
Dividend Payout Ratio---------

BATL Balance Sheet

Battalion Oil Corporation (BATL) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Total Current Assets471.79M144.65M71.15M47.84M87.91M88.17M90.54M54.05M57.16M
Cash & Short-Term Investments424.07M46.87M14.28M4.29M48.75M32.73M57.53M19.71M27.96M
Cash Only424.07M46.87M14.28M4.29M48.75M32.73M57.53M19.71M27.96M
Short-Term Investments000000000
Accounts Receivable43.34M94.25M54.75M40.8M36.81M37.97M23.02M26.3M19.42M
Days Sales Outstanding41.86151.8188.94100.4347.138.638.0649.5142.97
Inventory10.57M4.75M0000000
Days Inventory Outstanding19.9315.6-------
Other Current Assets54K35K36K1.85M1.38M16.75M9.5M7.47M9.78M
Total Non-Current Assets1.17B1.94B513.51M298.66M302.35M397.19M394.8M377M403.51M
Property, Plant & Equipment1.17B1.92B512.59M292.3M297.57M388.99M372.27M370.67M5.52M
Fixed Asset Turnover0.32x0.12x0.44x0.51x0.96x0.92x0.59x0.52x29.90x
Goodwill000000000
Intangible Assets000000000
Long-Term Investments563K13.01M804K03.74M1.56M1.28M940K0
Other Non-Current Assets1.13M-81.17M123K6.36M1.04M6.64M21.25M5.39M398M
Total Assets
1.64B▲ 0%
2.08B▲ 26.8%
584.67M▼ 71.9%
346.5M▼ 40.7%
390.27M▲ 12.6%
485.36M▲ 24.4%
485.34M▼ 0.0%
431.05M▼ 11.2%
460.68M▲ 6.9%
Asset Turnover0.23x0.11x0.38x0.43x0.73x0.74x0.45x0.45x0.36x
Asset Growth %24.55%26.77%-71.94%-40.74%12.63%24.37%-0%-11.19%6.87%
Total Current Liabilities150.34M161.74M106.43M83.18M121.6M165.03M134.42M77.66M63.64M
Accounts Payable35.69M68.96M36.04M22.74M25.32M42.92M24.91M15.66M0
Days Payables Outstanding67.25226.477.1276.9588.07125.1575.4249.86-
Short-Term Debt00923K1.72M454K35.07M50.11M12.25M23.27M
Deferred Revenue (Current)93.38M82.72M0000000
Other Current Liabilities91.83M66.1M66.53M25.35M92.1M76.22M17.71M13.8M40.37M
Current Ratio3.14x0.89x0.67x0.58x0.72x0.53x0.67x0.70x0.90x
Quick Ratio3.07x0.86x0.67x0.58x0.72x0.53x0.67x0.70x0.90x
Cash Conversion Cycle-5.47-58.99-------
Total Non-Current Liabilities421.29M724.82M161.58M173.36M204.96M235.71M176.37M171.73M429.83M
Long-Term Debt409.17M613.11M144M158.49M181.56M182.68M140.28M145.53M104K
Capital Lease Obligations002.25M0352K0490K84K0
Deferred Tax Liabilities095.79M0000000
Other Non-Current Liabilities12.12M15.93M15.34M14.87M23.04M53.03M35.6M26.11M429.73M
Total Liabilities571.62M886.57M268.02M256.54M326.56M400.73M310.78M249.39M493.47M
Total Debt409.17M613.11M147.17M168.23M182.37M218.09M197.88M165.87M23.38M
Net Debt-14.9M566.24M132.9M163.94M133.62M185.37M140.35M146.16M-4.59M
Debt / Equity0.38x0.51x0.46x1.87x2.86x2.58x1.13x0.91x-
Debt / EBITDA0.50x3.61x--1.23x1.07x2.67x4.03x-
Net Debt / EBITDA-0.02x3.34x--0.90x0.91x1.89x3.55x-
Interest Coverage10.06x2.14x-27.06x-39.47x12.89x6.45x0.53x-0.40x-
Total Equity
1.07B▲ 0%
1.2B▲ 11.7%
316.65M▼ 73.5%
89.96M▼ 71.6%
63.7M▼ 29.2%
84.63M▲ 32.8%
174.56M▲ 106.3%
181.66M▲ 4.1%
-32.79M▼ 118.1%
Equity Growth %851.3%11.66%-73.55%-71.59%-29.18%32.84%106.26%4.07%-118.05%
Book Value per Share80.2576.1025.695.553.925.1310.6211.04-1.99
Total Shareholders' Equity1.07B1.2B316.65M89.96M63.7M84.63M174.56M181.66M-32.79M
Common Stock15K16K2K2K2K2K2K2K0
Retained Earnings55.7M101.66M-10.46M-240.17M-268.48M-249.94M-252.99M-284.88M-273M
Treasury Stock000000000
Accumulated OCI-574.25M-648.34M0000000
Minority Interest000000000

BATL Cash Flow Statement

Battalion Oil Corporation (BATL) cash flow — operating, investing & free cash flow history

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Cash from Operations114.59M67.16M-26.08M50.2M68.57M78.8M17.59M35.35M39.09M
Operating CF Margin %30.32%29.63%-11.61%33.85%24.04%21.95%7.97%18.23%23.7%
Operating CF Growth %-58.85%-41.4%-138.83%292.5%36.61%14.92%-77.68%101.01%10.56%
Net Income535.69M45.96M-1.17B-229.71M-28.32M18.54M-3.05M-31.88M11.88M
Depreciation & Amortization4.39M1.69M110.91M62.05M45.41M5.45M56.62M52.93M1.57M
Stock-Based Compensation36.76M15.27M02.58M2.01M2.21M0152K-109K
Deferred Taxes-484.33M95.79M-95.79M000000
Other Non-Cash Items298K-120.12M1.15B215.03M52.62M33.32M-16.82M19.95M25.75M
Working Capital Changes21.79M28.57M-27.52M238K-3.15M19.28M-19.16M-5.79M0
Change in Receivables103.17M378K-6.79M13.51M-4.65M594K15.66M-2.77M14.46M
Change in Inventory-325.14M-22.35M0000000
Change in Payables-77.69M22.35M-16.91M-17.99M865K18.45M-35.02M0-11.11M
Cash from Investing598.59M-706.49M-297.21M-72.35M-51.91M-126.13M-51.84M-65.44M-74.95M
Capital Expenditures-1.43B-926.54M-298.89M-101.89M-52.93M-126.63M-46.44M-47K0
CapEx % of Revenue377.96%408.87%133.02%68.71%18.56%35.27%21.04%0.02%-
Acquisitions2.03B219.9M1.25M29.03M947K332K4.93M00
Investments---------
Other Investing2.03B220.05M427K510K68K163K-10.33M-65.4M-74.95M
Cash from Financing-289.14M262.13M286.69M16.18M27.41M31.79M59.06M-7.73M44.11M
Debt Issued (Net)-675.28M206M133.76M16.21M27.7M35.1M-35.09M-38.11M0
Equity Issued (Net)00152.93M-32K-290K094.61M38.78M0
Dividends Paid00000000-48.71M
Share Repurchases000000000
Other Financing386.14M56.13M-4K00-3.32M-455K-8.4M92.82M
Net Change in Cash
424.05M▲ 0%
-377.2M▼ 189.0%
-32.59M▲ 91.4%
-8.24M▲ 74.7%
42.71M▲ 618.4%
-15.54M▼ 136.4%
24.81M▲ 259.6%
-37.82M▼ 252.4%
8.25M▲ 121.8%
Free Cash Flow
-1.31B▲ 0%
-859.38M▲ 34.6%
-324.96M▲ 62.2%
-51.7M▲ 84.1%
15.64M▲ 130.3%
-47.82M▼ 405.7%
-28.85M▲ 39.7%
-29.34M▼ 1.7%
39.09M▲ 233.2%
FCF Margin %-347.64%-379.24%-144.63%-34.86%5.49%-13.32%-13.07%-15.13%23.7%
FCF Growth %-11131.42%34.6%62.19%84.09%130.26%-405.7%39.67%-1.69%233.23%
FCF per Share-98.37-54.64-26.37-3.190.96-2.90-1.75-1.782.38
FCF Conversion (FCF/Net Income)0.21x1.46x0.02x-0.22x-2.42x4.25x-5.77x-1.11x3.29x
Interest Paid90.83M37.53M0000022.32M0
Taxes Paid1.25M5M0000000

BATL Key Ratios

Battalion Oil Corporation (BATL) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric2016201720182019202020212022202320242025
Return on Equity (ROE)-331.06%90.44%4.05%-138.88%-112.99%-36.86%25%-2.35%-17.9%15.96%
Return on Invested Capital (ROIC)-2.21%50.28%4.9%-71.31%-55.83%34.36%48.83%4.51%-2.74%-3.43%
Gross Margin24.21%48.75%50.94%24.09%27.26%63.21%65.14%45.38%40.87%72.84%
Net Margin-111.76%141.73%20.28%-467.83%-154.9%-9.93%5.16%-1.38%-16.44%7.2%
Debt / Equity8.56x0.38x0.51x0.46x1.87x2.86x2.58x1.13x0.91x-
Interest Coverage-0.40x10.06x2.14x-27.06x-39.47x12.89x6.45x0.53x-0.40x-
FCF Conversion-0.60x0.21x1.46x0.02x-0.22x-2.42x4.25x-5.77x-1.11x3.29x
Revenue Growth-24.03%-9.59%-40.04%-0.85%-34%92.33%25.9%-38.52%-12.17%-14.92%

BATL Frequently Asked Questions

Battalion Oil Corporation (BATL) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Battalion Oil Corporation (BATL) reported $165.0M in revenue for fiscal year 2025.

Battalion Oil Corporation (BATL) saw revenue decline by 14.9% over the past year.

Yes, Battalion Oil Corporation (BATL) is profitable, generating $11.9M in net income for fiscal year 2025 (7.2% net margin).

Dividend & Returns

Yes, Battalion Oil Corporation (BATL) pays a dividend with a yield of 85.29%. This makes it attractive for income-focused investors.

Battalion Oil Corporation (BATL) has a return on equity (ROE) of 16.0%. This is reasonable for most industries.

Battalion Oil Corporation (BATL) generated $39.1M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

Explore More BATL

Battalion Oil Corporation (BATL) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

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Financial Ratios

30 years of market, efficiency and balance-sheet ratios

→

Valuation

DCF intrinsic value, peer multiples & estimates

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