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EPEmpire Petroleum Corporation
$2.65$106M
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  4. Financial Ratios

Empire Petroleum Corporation (EP) Financial Ratios

Latest Ratios: P/E Ratio -1.3x · EV/EBITDA N/A · ROE -247.9%. (1999–2025 historical series)

Income StatementBalance SheetCash FlowRatios
AnnualQuarterly

EP Valuation Multiples

Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow

MetricTTMFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020FY 2019FY 2018FY 2017FY 2016
Market Cap$106M$104M$228M$250M$293M$44M$9M$3M$2M$2M$1M
Enterprise Value$120M$118M$238M$249M$289M$50M$18M$11M$4M$2M$1M
P/E Ratio →-1.25———41.00——————
P/S Ratio3.093.035.196.225.501.601.480.586.72——
P/B Ratio——3.647.1512.614.49———13.344.56
P/FCF————63.54——————
P/OCF——37.11—16.2313.93—————

P/E links to full P/E history page with 30-year chart

EP EV Ratios

Enterprise-value multiples — capital-structure-neutral measures of total business value

MetricTTMFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020FY 2019FY 2018FY 2017FY 2016
EV / Revenue—3.445.416.205.431.813.061.9210.61——
EV / EBITDA————26.2923.08———26337.57—
EV / EBIT————37.05——————
EV / FCF————62.69——————

EP Profitability

Margins and return-on-capital ratios measuring operating efficiency

Margins

Full margin charts and quarterly trend are on the Earnings History page

MetricTTMFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020FY 2019FY 2018FY 2017FY 2016
Gross Margin-19.3%-19.3%7.9%13.4%44.7%35.4%42.2%35.9%89.6%——
Operating Margin-58.6%-58.6%-31.0%-29.0%16.5%-1.7%-293.6%-105.6%-260.0%——
Net Profit Margin-210.7%-210.7%-36.8%-31.1%13.3%-67.3%-281.1%-114.2%-288.6%——

Return on Capital

MetricTTMFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020FY 2019FY 2018FY 2017FY 2016
ROE-247.9%-247.9%-33.2%-42.9%42.8%-189.3%———-386.4%-155.0%
ROA-76.0%-76.0%-15.0%-15.2%11.6%-60.7%-151.2%-102.3%-85.6%-218.3%-131.2%
ROIC-36.7%-36.7%-19.3%-32.8%37.7%-10.6%—-225.4%-94.4%-215.7%-63.6%
ROCE-27.8%-27.8%-16.1%-19.1%19.1%-2.2%-252.0%-122.6%-127.9%-282.6%-71.4%

EP Leverage & Debt

Solvency and debt-coverage ratios — lower is generally safer

MetricTTMFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020FY 2019FY 2018FY 2017FY 2016
Debt / Equity——0.190.190.340.96———1.440.20
Debt / EBITDA————0.734.36———2675.68—
Net Debt / Equity——0.15-0.03-0.170.59———0.83-0.03
Net Debt / EBITDA————-0.362.69———1548.43—
Debt / FCF————-0.85——————
Interest Coverage-12.95-12.95-9.69-11.6015.31-1.16-31.30-12.21-9.05-10.37-51.34

EP Liquidity & Efficiency

Short-term solvency ratios and asset-utilisation metrics

MetricTTMFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020FY 2019FY 2018FY 2017FY 2016
Current Ratio0.340.340.580.751.291.090.370.760.500.383.67
Quick Ratio0.280.280.520.691.191.000.280.550.500.383.67
Cash Ratio0.050.050.110.310.680.300.03—0.110.383.05
Asset Turnover—0.520.360.430.740.550.530.530.18——
Inventory Turnover32.3432.3431.1024.2516.0217.246.527.83———
Days Sales Outstanding—54.6667.5875.9753.30101.9976.2861.58129.04——

EP Shareholder Yields

Earnings, FCF, buyback, and dividend yields — total returns to shareholders

Dividends

Full dividend history and growth charts are on the Dividend History page

MetricTTMFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020FY 2019FY 2018FY 2017FY 2016
Dividend Yield———————————
Payout Ratio———————————

Total Shareholder Return Metrics

MetricTTMFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020FY 2019FY 2018FY 2017FY 2016
Earnings Yield————2.4%——————
FCF Yield————1.6%——————
Buyback Yield0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Total Shareholder Yield0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Shares Outstanding—$34M$30M$23M$24M$4M$6M$5M$3M$3M$2M

Key Metrics

Growth RegimeContracting
ProfitabilityNegative
Balance SheetVulnerable
Cash FlowBurning
Top Statement Risk

Imminent liquidity and insolvency

Verified Source

Metrics are mathematically derived from official filings.

SEC 10-K (2026Q1)

Distressed Valuation Reflects Operational Uncertainty

Based on reported financial statements, Empire Petroleum trades at a P/S multiple of 3.09, which appears disconnected from its negative net margins and persistent revenue contraction, suggesting that the market may be pricing in speculative recovery potential rather than the company's current, highly challenged operational reality.

The negative P/E of -1.25 underscores the absence of sustainable earnings, rendering traditional earnings-based valuation metrics largely irrelevant for this entity. Investors should monitor whether the current premium to book value is supported by underlying reserve quality or if it represents an overvaluation of assets that may face future impairment.

Persistent Decay in Capital Returns

As reported in recent financial filings, Empire Petroleum's ROIC has remained consistently negative, reaching -22.7% in 2026Q1, which indicates that the company is currently destroying shareholder value rather than compounding it through its acquisition-heavy strategy of mature, low-decline conventional oil and gas assets.

The inability to generate positive returns on invested capital suggests that the costs associated with maintaining aging infrastructure significantly outweigh the economic benefits of the production. This trend warrants further investigation into whether management's capital allocation strategy is fundamentally flawed or merely hampered by current commodity price cycles.

Working Capital Inefficiency and Leverage

According to quarterly data, the company's asset turnover ratio remains extremely low at 0.11, reflecting a structural inability to generate meaningful revenue from its asset base, while the erratic cash conversion cycle suggests significant friction in managing payables and receivables across its fragmented multi-state operations.

The high DPO relative to historical norms may indicate a reliance on extended supplier credit to manage liquidity, which is a precarious strategy given the company's negative gross margins. This operational inefficiency appears to be a primary driver of the firm's inability to achieve self-sustaining cash flow.

Liquidity Buffer Near Critical Thresholds

Based on the most recent quarterly data, the company's current ratio has plummeted to 0.59, indicating that current assets are insufficient to cover short-term obligations, a situation that leaves the firm highly vulnerable to any further deterioration in commodity prices or unexpected operational disruptions.

The reliance on a minimal cash position of $1.189M suggests that the company lacks the necessary financial cushion to navigate periods of negative cash flow. Investors should monitor the risk of potential dilutive financing, as the current liquidity profile appears inadequate for sustaining long-term operations.

Misapplication of Standard E&P Metrics

The most commonly misapplied metric for Empire Petroleum is the P/S ratio, which obscures the company's inability to convert revenue into gross profit, thereby misleading investors into viewing the firm as a standard growth-oriented E&P rather than a distressed operator with a negative margin profile.

Analysts should instead prioritize the LOE per BOE and the ratio of maintenance capital expenditures to total production, as these metrics provide a more accurate assessment of the company's true economic viability. Relying on top-line multiples ignores the reality that every additional barrel produced may currently be contributing to net losses.

Download Financial Ratios Data

Includes 30+ ratios · 27 years · Updated daily

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EP — Frequently Asked Questions

Quick answers to the most common questions about buying EP stock.

What is Empire Petroleum Corporation's P/E ratio?

Empire Petroleum Corporation's current P/E ratio is -1.3x. The historical average is 41.0x.

What is Empire Petroleum Corporation's ROE?

Empire Petroleum Corporation's return on equity (ROE) is -247.9%. The historical average is -132.2%.

Is EP stock overvalued?

Based on historical data, Empire Petroleum Corporation is trading at a P/E of -1.3x. Compare with industry peers and growth rates for a complete picture.

What are Empire Petroleum Corporation's profit margins?

Empire Petroleum Corporation has -19.3% gross margin and -58.6% operating margin.