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PRPermian Resources Corporation
$21.75$18.2B
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  4. Financial Ratios

Permian Resources Corporation (PR) Financial Ratios

Latest Ratios: P/E Ratio 11.7x · EV/EBITDA 4.5x · ROE 8.5%. (2012–2025 historical series)

Income StatementBalance SheetCash FlowRatios
AnnualQuarterly

PR 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$18.2B$10.3B$9.8B$5.3B$3.0B$1.8B$416M$1.2B$2.9B$4.7B$4.0B
Enterprise Value$21.8B$13.8B$13.7B$9.1B$5.2B$2.6B$1.5B$2.3B$3.6B$5.0B$3.8B
P/E Ratio →11.7010.969.9210.975.8413.00—77.0014.6961.88—
P/S Ratio2.862.021.971.701.421.740.721.293.3011.0440.12
P/B Ratio1.380.890.940.570.540.650.160.370.911.581.55
P/FCF8.1518.4033.7912.605.169.05—————
P/OCF5.052.842.882.392.213.422.432.164.3818.2664.85

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

PR 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—2.722.732.922.432.552.552.414.0511.6838.77
EV / EBITDA4.533.943.884.343.573.99—4.355.9218.21—
EV / EBIT14.798.287.437.635.3713.15—29.1112.0942.11—
EV / FCF—24.7646.9221.748.8313.24—————

PR 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 Margin32.7%32.7%47.1%52.9%66.5%53.3%7.1%29.8%47.5%44.8%-0.4%
Operating Margin29.0%29.0%34.9%35.1%47.3%36.0%-134.4%8.4%31.8%26.5%-216.3%
Net Profit Margin18.5%18.5%19.7%15.3%24.2%13.4%-117.6%1.7%22.4%17.6%-229.5%

Return on Capital

MetricTTMFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020FY 2019FY 2018FY 2017FY 2016
ROE8.5%8.5%10.0%6.4%12.3%5.2%-23.2%0.5%6.4%2.7%-17.8%
ROA5.3%5.3%6.2%4.1%8.4%3.6%-16.0%0.4%5.1%2.4%-17.1%
ROIC7.5%7.5%9.5%7.9%13.3%7.7%-14.6%1.4%5.9%3.0%-12.5%
ROCE9.2%9.2%11.9%10.1%17.5%10.1%-19.2%1.9%7.6%3.8%-16.7%

PR Leverage & Debt

Solvency and debt-coverage ratios — lower is generally safer

MetricTTMFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020FY 2019FY 2018FY 2017FY 2016
Debt / Equity0.320.320.410.420.390.310.410.330.210.13—
Debt / EBITDA1.061.061.221.861.521.28—2.041.131.42—
Net Debt / Equity—0.310.360.420.380.300.410.320.210.09-0.05
Net Debt / EBITDA1.011.011.091.821.481.26—2.021.100.99—
Debt / FCF—6.3613.139.143.664.20—————
Interest Coverage5.895.896.046.7510.103.26-10.131.4011.3320.81-37.00

PR Liquidity & Efficiency

Short-term solvency ratios and asset-utilisation metrics

MetricTTMFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020FY 2019FY 2018FY 2017FY 2016
Current Ratio0.780.780.840.520.770.520.500.470.531.011.65
Quick Ratio0.780.780.840.520.770.520.500.470.531.011.65
Cash Ratio0.090.090.360.060.100.060.040.040.070.591.47
Asset Turnover—0.280.300.210.250.270.150.200.210.120.04
Inventory Turnover———————————
Days Sales Outstanding—60.5838.7256.2648.4425.2734.3139.3941.2266.8953.69

PR 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 Yield2.8%4.4%4.7%2.7%0.5%——————
Payout Ratio47.9%47.9%47.4%29.8%2.8%——————

Total Shareholder Return Metrics

MetricTTMFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020FY 2019FY 2018FY 2017FY 2016
Earnings Yield8.5%9.1%10.1%9.1%17.1%7.7%—1.3%6.8%1.6%—
FCF Yield12.3%5.4%3.0%7.9%19.4%11.1%—————
Buyback Yield0.4%0.7%0.6%3.1%0.6%0.8%0.1%0.0%0.0%0.0%0.0%
Total Shareholder Yield3.2%5.1%5.4%5.8%1.1%0.8%0.1%0.0%0.0%0.0%0.0%
Shares Outstanding—$731M$684M$389M$323M$300M$278M$263M$267M$240M$201M

Key Metrics

Growth RegimeMixed
ProfitabilityModerate
Balance SheetAdequate
Cash FlowStable
Top Statement Risk

Revenue volatility and margin compression

Verified Source

Metrics are mathematically derived from official filings.

SEC 10-K (2026Q2)

Margin Volatility Masks Underlying Earning Power

Gross margin swung from 80.1% in 2026Q2 to 26.8% in 2025Q4, while operating margin averaged 33% over ten quarters, indicating commodity price sensitivity and potential one-time items.

The 80.1% gross margin in 2026Q2 is an outlier versus the 26-50% range in prior quarters, suggesting possible hedging gains or inventory valuation effects. Operating margin has been more stable, ranging from 23% to 50%, but still volatile, reflecting the company's high operating leverage. Net margin is even more erratic, swinging from 3.1% to 42.7%, which implies that reported earnings are heavily influenced by non-operating items such as impairments or gains on asset sales. Investors should focus on cash flow metrics rather than net income to assess true earning power.

Return on Capital Remains Subdued

ROIC averaged 2.4% over the last ten quarters, with a peak of 4.7% in 2026Q2, while ROE averaged 2.6%, indicating that capital efficiency is low relative to the cost of capital.

Despite a strong commodity price environment in 2026Q2, ROIC of 4.7% is still below the typical cost of capital for E&P companies, suggesting that the company is not generating excess returns. The low asset turnover of 0.08-0.10 reflects the capital-intensive nature of the business, where large PPE investments generate relatively low revenue per dollar of assets. The improvement in ROIC from 1.4% in 2025Q4 to 4.7% in 2026Q2 is encouraging but may be temporary if commodity prices retreat. The company's returns are highly sensitive to oil and gas prices, and the current levels do not indicate a compounding machine.

Working Capital Efficiency Shows Mixed Signals

DSO averaged 42 days over the last ten quarters, while DPO averaged 31 days, but the cash conversion cycle is not calculable due to missing inventory data, obscuring full working capital efficiency.

DSO has ranged from 34 to 57 days, with a recent spike to 57 days in 2026Q1, which may indicate slower collections or a change in sales mix. DPO has been volatile, ranging from 6 to 232 days, with the 232-day figure in 2026Q2 likely reflecting a timing anomaly or a significant payable build-up. The current ratio of 0.62 in 2026Q2 is below 1, indicating that current liabilities exceed current assets, which is common in E&P but warrants monitoring. The lack of inventory data prevents a full CCC calculation, but the negative working capital position suggests the company relies on operational cash flow to fund short-term obligations.

Deleveraging Trend Improves Credit Profile

Debt-to-equity improved from 0.43 in 2024Q1 to 0.26 in 2026Q2, while D/EBITDA fell from 4.59 to 2.19, indicating a strengthening balance sheet, as reported in quarterly filings.

The company has reduced total debt from $4.0B to $3.1B over the period, while equity grew from $7.0B to $12.0B, driven by retained earnings. Interest coverage has improved significantly, from 4.82 in 2024Q1 to 13.09 in 2026Q2, suggesting that debt service is becoming more comfortable. However, the 2026Q1 interest coverage of 1.98 was a low point, reflecting weak earnings in that quarter, which highlights the volatility in coverage ratios. The deleveraging trend is positive, but the company's leverage remains sensitive to commodity price cycles, and investors should monitor D/EBITDA if prices decline.

Thin Cash Buffer Raises Liquidity Concerns

Current ratio of 0.62 in 2026Q2 and cash of $131.7M, less than 1% of total assets, indicate a tight liquidity position, though operating cash flow remains strong.

The current ratio has been consistently below 1 over the past ten quarters, ranging from 0.50 to 0.86, which suggests that the company may struggle to cover short-term liabilities without relying on cash flow or credit lines. The quick ratio equals the current ratio, indicating that inventory is not a significant component of current assets, which is typical for an E&P company. Despite the low cash balance, operating cash flow of $1.3B in 2026Q2 provides a buffer, but a sudden drop in commodity prices could strain liquidity. The company's ability to fund its dividend and capex from operating cash flow is critical, and the thin cash position warrants close monitoring.

Premium Valuation Justified by Scale and Returns

PR trades at 6.09 EV/EBITDA versus peer average of 4.24, and P/E of 16.59 versus 7.98, reflecting a premium that may be supported by its larger scale and lower leverage.

PR's EV/EBITDA of 6.09 is higher than MTDR's 4.16, CIVI's 1.89, SM's 4.98, and CTRA's 5.94, indicating that the market assigns a premium to PR's assets or growth prospects. However, PR's ROE of 6.8% (2026Q2) is lower than SM's 16.5% and MTDR's 12.1%, suggesting that the premium is not fully justified by current returns. PR's D/E of 0.26 is the lowest among peers, which may support a higher multiple due to lower financial risk. The valuation gap may narrow if PR's returns improve or if commodity prices decline, making the premium less sustainable.

EV/EBITDA Misapplied to E&P Companies

EV/EBITDA is commonly misapplied to E&P firms because it ignores the varying cost structures and capital intensity, and PR's ratio of 6.09 may understate true value.

In the E&P sector, EBITDA does not capture the full cost of replacing reserves, as it excludes depreciation, which is a significant economic cost for depleting assets. PR's high gross margins (80.1% in 2026Q2) can be misleading because they do not reflect the capital expenditures required to maintain production. A more appropriate metric is EV/EBITDAX (excluding exploration costs) or EV/2P reserves, which better align with the asset base. Additionally, PR's low asset turnover (0.10) indicates that EV/EBITDA may be flattered by the large asset base, and investors should consider EV/EBITDA in conjunction with reserve life and replacement costs.

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PR — Frequently Asked Questions

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

What is Permian Resources Corporation's P/E ratio?

Permian Resources Corporation's current P/E ratio is 11.7x. The historical average is 25.5x. This places it at the 50th percentile of its historical range.

What is Permian Resources Corporation's EV/EBITDA?

Permian Resources Corporation's current EV/EBITDA is 4.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 6.0x.

What is Permian Resources Corporation's ROE?

Permian Resources Corporation's return on equity (ROE) is 8.5%. The historical average is 0.5%.

Is PR stock overvalued?

Based on historical data, Permian Resources Corporation is trading at a P/E of 11.7x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.

What is Permian Resources Corporation's dividend yield?

Permian Resources Corporation's current dividend yield is 2.82% with a payout ratio of 47.9%.

What are Permian Resources Corporation's profit margins?

Permian Resources Corporation has 32.7% gross margin and 29.0% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.

How much debt does Permian Resources Corporation have?

Permian Resources Corporation's Debt/EBITDA ratio is 1.1x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.