Trio Petroleum Corp. (TPET) 10-Year Financial Performance & Capital Metrics

TPET • • Industrial / General

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

AboutTrio Petroleum Corp. operates as an oil and gas exploration and development company. The company owns an 85.75% working interest in the approximately 9,300-acre South Salinas project located in Monterey, California. It also holds an option to acquire a 100% working interest in the Union Avenue Field located in Bakersfield, California. The company was incorporated in 2021 and is headquartered in Bakersfield, California.Show more

Revenue $213K
EBITDA -$6M -34.9%
Net Income -$10M -47.1%
EPS (Diluted) -4.32 +23.8%
Gross Margin 98.7%
EBITDA Margin -2915.02%
Operating Margin -2916.32%
Net Margin -4515.3%
ROE -102.49% +2.4%
ROIC -49% -23.8%
Debt/Equity 0.10 -22.3%
Interest Coverage -2.93 +49.6%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Trading at only 0.2x book value

✗Weaknesses

✗Negative free cash flow
✗Weak momentum: RS Rating 13 (bottom 13%)
✗Low quality earnings: Net income not backed by cash flow
✗Shares diluted 92.9% in last year
✗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-

TTM123.36%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM32.23%

EPS CAGR

10Y-

5Y-

3Y-

TTM50.63%

ROCE

10Y Avg-41.06%

5Y Avg-41.06%

3Y Avg-54.22%

Latest-65.85%

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

	Oct 2021	Oct 2022	Oct 2023	Oct 2024
Sales/Revenue+	0	0	0	213.2K
Revenue Growth %	-	-	-	-
Cost of Goods Sold+	359	2.78K	2.78K	2.78K
COGS % of Revenue	-	-	-	0.01%
Gross Profit+	-359	-2.78K	-2.78K	210.43K
Gross Margin %	-	-	-	0.99%
Gross Profit Growth %	-	-6.74%	0%	76.75%
Operating Expenses+	63.59K	815.48K	4.61M	6.43M
OpEx % of Revenue	-	-	-	30.16%
Selling, General & Admin	63.59K	774.58K	4.61M	4.72M
SG&A % of Revenue	-	-	-	22.12%
Research & Development	0	0	0	0
R&D % of Revenue	-	-	-	-
Other Operating Expenses	0	0	0	1.71M
Operating Income+	-63.95K	-806.03K	-4.61M	-6.22M
Operating Margin %	-	-	-	-29.16%
Operating Income Growth %	-	-11.6%	-4.72%	-0.35%
EBITDA+	-63.59K	-803.25K	-4.61M	-6.21M
EBITDA Margin %	-	-	-	-29.15%
EBITDA Growth %	-	-11.63%	-4.74%	-0.35%
D&A (Non-Cash Add-back)	359	2.78K	2.78K	2.78K
EBIT	-63.95K	-2.14M	-5.75M	-7.51M
Net Interest Income+	0	0	0	-2.12M
Interest Income	0	0	0	0
Interest Expense	38.12K	1.66M	791.81K	2.12M
Other Income/Expense	-38.11K	-2.99M	-1.93M	-3.41M
Pretax Income+	-102.06K	-3.8M	-6.54M	-9.63M
Pretax Margin %	-	-	-	-45.15%
Income Tax+	0	0	0	0
Effective Tax Rate %	1%	1%	1%	1%
Net Income+	-102.06K	-3.8M	-6.54M	-9.63M
Net Margin %	-	-	-	-45.15%
Net Income Growth %	-	-36.24%	-0.72%	-0.47%
Net Income (Continuing)	-102.06K	-3.8M	-6.54M	-9.63M
Discontinued Operations	0	0	0	0
Minority Interest	0	0	0	0
EPS (Diluted)+	-0.09	-3.29	-5.67	-4.32
EPS Growth %	-	-36.22%	-0.72%	0.24%
EPS (Basic)	-0.09	-3.29	-5.67	-4.32
Diluted Shares Outstanding	1.15M	1.15M	1.15M	2.23M
Basic Shares Outstanding	1.15M	1.15M	1.15M	2.23M
Dividend Payout Ratio	-	-	-	-

Balance Sheet

	Oct 2021	Oct 2022	Oct 2023	Oct 2024
Total Current Assets+	290.33K	1.75M	1.7M	565.22K
Cash & Short-Term Investments	78.88K	73.65K	1.56M	285.94K
Cash Only	78.88K	73.65K	1.56M	285.94K
Short-Term Investments	0	0	0	0
Accounts Receivable	21.15K	35K	0	0
Days Sales Outstanding	-	-	-	-
Inventory	169.14K	0	0	0
Days Inventory Outstanding	171.97K	-	-	-
Other Current Assets	0	1.61M	0	0
Total Non-Current Assets+	7.48M	7.74M	9.95M	11.12M
Property, Plant & Equipment	7.48M	5.84M	9.95M	11.12M
Fixed Asset Turnover	-	-	-	0.02x
Goodwill	0	0	0	0
Intangible Assets	0	0	0	0
Long-Term Investments	50.55K	10.01K	0	0
Other Non-Current Assets	-50.55K	1.89M	0	0
Total Assets+	7.77M	9.49M	11.64M	11.68M
Asset Turnover	-	-	-	0.02x
Asset Growth %	-	0.22%	0.23%	0%
Total Current Liabilities+	3.68M	6.71M	1.85M	2.59M
Accounts Payable	16.12K	1.16M	609.36K	1.04M
Days Payables Outstanding	16.39K	152.94K	80.06K	136.16K
Short-Term Debt	3.66M	5.43M	1.22M	877.85K
Deferred Revenue (Current)	-16.12K	-1000K	0	0
Other Current Liabilities	2.78K	117.66K	24.43K	457.74K
Current Ratio	0.08x	0.26x	0.92x	0.22x
Quick Ratio	0.03x	0.26x	0.92x	0.22x
Cash Conversion Cycle	-	-	-	-
Total Non-Current Liabilities+	42.76K	54.98K	48.31K	51.09K
Long-Term Debt	0	0	0	0
Capital Lease Obligations	0	0	0	0
Deferred Tax Liabilities	0	9.45K	0	0
Other Non-Current Liabilities	42.76K	45.53K	48.31K	51.09K
Total Liabilities	3.72M	6.77M	1.9M	2.64M
Total Debt+	3.66M	5.43M	1.22M	877.85K
Net Debt	3.58M	5.36M	-344.33K	591.91K
Debt / Equity	0.90x	1.99x	0.12x	0.10x
Debt / EBITDA	-	-	-	-
Net Debt / EBITDA	-	-	-	-
Interest Coverage	-1.68x	-0.48x	-5.82x	-2.93x
Total Equity+	4.05M	2.72M	9.74M	9.04M
Equity Growth %	-	-0.33%	2.58%	-0.07%
Book Value per Share	3.51	2.36	8.44	4.06
Total Shareholders' Equity	4.05M	2.72M	9.74M	9.04M
Common Stock	1.1K	1.7K	3.1K	320
Retained Earnings	-102.06K	-3.9M	-10.45M	-20.07M
Treasury Stock	0	0	0	0
Accumulated OCI	0	0	0	0
Minority Interest	0	0	0	0

Cash Flow

	Oct 2021	Oct 2022	Oct 2023	Oct 2024
Cash from Operations+	-258.92K	-502.14K	-4.04M	-3.84M
Operating CF Margin %	-	-	-	-18.01%
Operating CF Growth %	-	-0.94%	-7.04%	0.05%
Net Income	-102.06K	-3.8M	-6.54M	-9.63M
Depreciation & Amortization	359	80K	0	2.09M
Stock-Based Compensation	0	6.2K	1.04M	1.53M
Deferred Taxes	0	9.45K	-9.45K	0
Other Non-Cash Items	38.83K	2.63M	1.49M	1.42M
Working Capital Changes	-195.33K	568.7K	-13.24K	743.07K
Change in Receivables	0	0	0	0
Change in Inventory	0	0	0	0
Change in Payables	0	0	0	0
Cash from Investing+	-300K	0	-2.19M	-1.09M
Capital Expenditures	-300K	0	-362.02K	0
CapEx % of Revenue	-	-	-	-
Acquisitions	-	-	-	-
Investments	-	-	-	-
Other Investing	0	0	-1.83M	-1.09M
Cash from Financing+	637.8K	496.92K	8.07M	3.65M
Debt Issued (Net)	-	-	-	-
Equity Issued (Net)	-	-	-	-
Dividends Paid	0	0	0	0
Share Repurchases	-	-	-	-
Other Financing	0	-1.46M	0	-259.9K
Net Change in Cash	-	-	-	-
Free Cash Flow+	-558.92K	-502.14K	-4.4M	-3.84M
FCF Margin %	-	-	-	-18.01%
FCF Growth %	-	0.1%	-7.76%	0.13%
FCF per Share	-0.48	-0.43	-3.81	-1.73
FCF Conversion (FCF/Net Income)	2.54x	0.13x	0.62x	0.40x
Interest Paid	0	0	0	0
Taxes Paid	0	0	0	0

Key Ratios

Metric	2021	2022	2023	2024
Return on Equity (ROE)	-2.52%	-112.21%	-104.99%	-102.49%
Return on Invested Capital (ROIC)	-	-7.7%	-39.57%	-49%
Gross Margin	-	-	-	98.7%
Net Margin	-	-	-	-4515.3%
Debt / Equity	0.90x	1.99x	0.12x	0.10x
Interest Coverage	-1.68x	-0.48x	-5.82x	-2.93x
FCF Conversion	2.54x	0.13x	0.62x	0.40x

Revenue by Segment

	2024
Oil Sales	213.2K
Oil Sales Growth	-

Frequently Asked Questions

Growth & Financials

Trio Petroleum Corp. (TPET) reported $0.3M in revenue for fiscal year 2024.

Trio Petroleum Corp. (TPET) grew revenue by 0.0% over the past year. Growth has been modest.

Trio Petroleum Corp. (TPET) reported a net loss of $6.3M for fiscal year 2024.

Dividend & Returns

Trio Petroleum Corp. (TPET) has a return on equity (ROE) of -102.5%. Negative ROE indicates the company is unprofitable.

Trio Petroleum Corp. (TPET) had negative free cash flow of $6.0M in fiscal year 2024, likely due to heavy capital investments.

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