Infinity Natural Resources, Inc. (INR) 10-Year Financial Performance & Capital Metrics

INR • • Industrial / General

EnergyOil & Gas E&PUnconventional Shale E&PAppalachian Basin Gas Focused

AboutInfinity Natural Resources, Inc. engages in the acquisition, exploration, and development of properties to produce oil, natural gas, and natural gas liquids from underground reservoirs in the United States. The company holds interests in the Utica Shale Oil covering an area of approximately 63,000 net surface acres located in Ohio; and the Marcellus Shale Dry Gas covering an area of approximately 31,000 net surface acres and the Utica Deep Dry Gas covering an area of 30,029 net acres situated in Pennsylvania. Infinity Natural Resources, Inc. was founded in 2017 and is based in Morgantown, West Virginia.Show more

Revenue $259M +60.2%
EBITDA $167M +57.3%
Net Income $49M -43.1%
EPS (Diluted) 3.72 +153.1%
Gross Margin 52.09% +10.9%
EBITDA Margin 64.65% -1.8%
Operating Margin 36.19% +11.1%
Net Margin 19.03% -64.5%
ROE 10.2% -64.2%
ROIC 10.07% +6.6%
Debt/Equity 0.51 +36.8%
Interest Coverage 4.35 -1.6%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 28.1%
✓High quality earnings: Operating CF exceeds net income
✓Share count reduced 77.6% through buybacks
✓Healthy 5Y average net margin of 40.1%
✓Trading at only 0.4x book value

✗Weaknesses

✗Negative free cash flow
✗Trading more than 30% below 52-week high
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y-

TTM17.89%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-101.55%

EPS CAGR

10Y-

5Y-

3Y-

TTM-7.79%

ROCE

10Y Avg23.79%

5Y Avg23.79%

3Y Avg23.79%

Latest13.26%

Peer Comparison

Appalachian Basin Gas Focused

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
ARAntero Resources Corporation	9.8B	31.78	176.56	-3.75%	11.13%	7.29%	7.62%	0.56
EQTEQT Corporation	31.15B	49.92	121.76	3%	20.69%	6.65%	1.84%	0.39
EPSNEpsilon Energy Ltd.	134.52M	4.50	51.19	2.58%	12.86%	5.87%		0.00
RRCRange Resources Corporation	7.96B	33.60	30.83	-7.65%	20%	13.65%	3.97%	0.46
INRInfinity Natural Resources, Inc.	216M	13.82	3.72	60.16%	-0.58%	-0.2%		0.51
BKVBKV Corporation	2.47B	25.50	-12.62	-18.23%	5.54%	2.48%	0.71%	0.11
EXEExpand Energy Corporation	23.7B	99.52	-21.87	-45.71%	7.99%	4.78%	0.03%	0.33
CNXCNX Resources Corporation	5.18B	35.90	-59.83	-7.99%	14.17%	7.1%	5.32%	0.56

Profit & Loss

	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	143.16M	161.73M	259.02M
Revenue Growth %	-	0.13%	0.6%
Cost of Goods Sold+	34.73M	85.78M	124.09M
COGS % of Revenue	0.24%	0.53%	0.48%
Gross Profit+	108.43M	75.95M	134.94M
Gross Margin %	0.76%	0.47%	0.52%
Gross Profit Growth %	-	-0.3%	0.78%
Operating Expenses+	12.97M	23.26M	41.2M
OpEx % of Revenue	0.09%	0.14%	0.16%
Selling, General & Admin	12.97M	23.26M	41.2M
SG&A % of Revenue	0.09%	0.14%	0.16%
Research & Development	0	0	0
R&D % of Revenue	-	-	-
Other Operating Expenses	0	0	0
Operating Income+	95.46M	52.7M	93.74M
Operating Margin %	0.67%	0.33%	0.36%
Operating Income Growth %	-	-0.45%	0.78%
EBITDA+	113.8M	106.49M	167.46M
EBITDA Margin %	0.79%	0.66%	0.65%
EBITDA Growth %	-	-0.06%	0.57%
D&A (Non-Cash Add-back)	18.34M	53.8M	73.73M
EBIT	70.7M	98.58M	70.81M
Net Interest Income+	-2.57M	-11.91M	-21.53M
Interest Income	0	0	0
Interest Expense	2.57M	11.91M	21.53M
Other Income/Expense	-27.33M	33.98M	-44.45M
Pretax Income+	68.13M	86.67M	49.29M
Pretax Margin %	0.48%	0.54%	0.19%
Income Tax+	0	0	0
Effective Tax Rate %	1%	1%	1%
Net Income+	68.13M	86.67M	49.29M
Net Margin %	0.48%	0.54%	0.19%
Net Income Growth %	-	0.27%	-0.43%
Net Income (Continuing)	68.13M	86.67M	49.29M
Discontinued Operations	0	0	0
Minority Interest	0	0	0
EPS (Diluted)+	1.16	1.47	3.72
EPS Growth %	-	0.27%	1.53%
EPS (Basic)	5.14	6.54	3.72
Diluted Shares Outstanding	59.05M	59.05M	13.25M
Basic Shares Outstanding	13.25M	13.25M	13.25M
Dividend Payout Ratio	-	-	-

Balance Sheet

	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	29.08M	70.01M	85.57M
Cash & Short-Term Investments	739K	1.5M	2.2M
Cash Only	739K	1.5M	2.2M
Short-Term Investments	0	0	0
Accounts Receivable	22.32M	44.1M	71.54M
Days Sales Outstanding	56.91	99.52	100.81
Inventory	0	0	0
Days Inventory Outstanding	-	-	-
Other Current Assets	6.02M	24.41M	11.82M
Total Non-Current Assets+	237.63M	618.5M	829.9M
Property, Plant & Equipment	233.75M	607.38M	821.44M
Fixed Asset Turnover	0.61x	0.27x	0.32x
Goodwill	0	0	0
Intangible Assets	0	0	0
Long-Term Investments	2.41M	6.17M	0
Other Non-Current Assets	1.47M	4.94M	8.46M
Total Assets+	266.7M	688.51M	915.47M
Asset Turnover	0.54x	0.23x	0.28x
Asset Growth %	-	1.58%	0.33%
Total Current Liabilities+	57.36M	56.56M	133.35M
Accounts Payable	41.39M	37.74M	51.37M
Days Payables Outstanding	435.02	160.58	151.1
Short-Term Debt	93K	124K	101K
Deferred Revenue (Current)	0	0	0
Other Current Liabilities	5.98M	6K	12.6M
Current Ratio	0.51x	1.24x	0.64x
Quick Ratio	0.51x	1.24x	0.64x
Cash Conversion Cycle	-	-	-
Total Non-Current Liabilities+	59.84M	173.49M	273.88M
Long-Term Debt	58.05M	171.12M	259.41M
Capital Lease Obligations	747K	652K	1.14M
Deferred Tax Liabilities	0	0	0
Other Non-Current Liabilities	1.04M	1.72M	13.33M
Total Liabilities	117.2M	230.05M	407.22M
Total Debt+	58.98M	172M	260.9M
Net Debt	58.25M	170.49M	258.69M
Debt / Equity	0.39x	0.38x	0.51x
Debt / EBITDA	0.52x	1.62x	1.56x
Net Debt / EBITDA	0.51x	1.60x	1.54x
Interest Coverage	37.09x	4.42x	4.35x
Total Equity+	149.51M	458.46M	508.24M
Equity Growth %	-	2.07%	0.11%
Book Value per Share	2.53	7.76	38.36
Total Shareholders' Equity	149.51M	458.46M	508.24M
Common Stock	149.51M	458.46M	508.24M
Retained Earnings	0	0	0
Treasury Stock	0	0	0
Accumulated OCI	0	0	0
Minority Interest	0	0	0

Cash Flow

	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	64.98M	106.47M	177.67M
Operating CF Margin %	0.45%	0.66%	0.69%
Operating CF Growth %	-	0.64%	0.67%
Net Income	68.13M	86.67M	49.29M
Depreciation & Amortization	18.34M	53.8M	73.73M
Stock-Based Compensation	0	0	0
Deferred Taxes	0	0	0
Other Non-Cash Items	-12.81M	-25.01M	52.57M
Working Capital Changes	-8.68M	-8.98M	2.09M
Change in Receivables	-9.07M	-21.77M	-27.45M
Change in Inventory	0	0	0
Change in Payables	-2.16M	7.57M	16.37M
Cash from Investing+	-95.66M	-436.69M	-256.12M
Capital Expenditures	-95.66M	-436.69M	-256.12M
CapEx % of Revenue	0.67%	2.7%	0.99%
Acquisitions	-	-	-
Investments	-	-	-
Other Investing	0	0	0
Cash from Financing+	29M	330.98M	79.15M
Debt Issued (Net)	-	-	-
Equity Issued (Net)	-	-	-
Dividends Paid	0	0	0
Share Repurchases	-	-	-
Other Financing	-908K	-4.26M	-9.62M
Net Change in Cash	-	-	-
Free Cash Flow+	-30.68M	-330.21M	-78.45M
FCF Margin %	-0.21%	-2.04%	-0.3%
FCF Growth %	-	-9.76%	0.76%
FCF per Share	-0.52	-5.59	-5.92
FCF Conversion (FCF/Net Income)	0.95x	1.23x	3.60x
Interest Paid	2.18M	10.14M	19.2M
Taxes Paid	0	0	0

Key Ratios

Metric	2022	2023	2024
Return on Equity (ROE)	45.57%	28.51%	10.2%
Return on Invested Capital (ROIC)	-	9.45%	10.07%
Gross Margin	75.74%	46.96%	52.09%
Net Margin	47.59%	53.59%	19.03%
Debt / Equity	0.39x	0.38x	0.51x
Interest Coverage	37.09x	4.42x	4.35x
FCF Conversion	0.95x	1.23x	3.60x
Revenue Growth	-	12.98%	60.16%

Frequently Asked Questions

Valuation & Price

Infinity Natural Resources, Inc. (INR) has a price-to-earnings (P/E) ratio of 3.7x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Infinity Natural Resources, Inc. (INR) reported $308.5M in revenue for fiscal year 2024. This represents a 115% increase from $143.2M in 2022.

Infinity Natural Resources, Inc. (INR) grew revenue by 60.2% over the past year. This is strong growth.

Infinity Natural Resources, Inc. (INR) reported a net loss of $1.8M for fiscal year 2024.

Dividend & Returns

Infinity Natural Resources, Inc. (INR) has a return on equity (ROE) of 10.2%. This is reasonable for most industries.

Infinity Natural Resources, Inc. (INR) had negative free cash flow of $123.9M in fiscal year 2024, likely due to heavy capital investments.

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