Latest Ratios: P/E Ratio -2.5x · EV/EBITDA N/A · ROE -59.9%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $37M | $31M | $44M | $25M | $57M | $15M | $6M | $4M | $9M | $9M | $6M |
| Enterprise Value | $39M | $34M | $36M | $28M | $65M | $10M | $4M | $3M | $7M | $7M | $10M |
| P/E Ratio → | -2.51 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 4.98 | 4.23 | 2.11 | 0.78 | 1.27 | 2.37 | 2.77 | 0.65 | 1.56 | 1.35 | 1.06 |
| P/B Ratio | 1.51 | 1.29 | 1.83 | 0.54 | 0.72 | 1.09 | 0.70 | 0.36 | 0.74 | 0.83 | 1.62 |
| P/FCF | — | — | — | 15.78 | 13.33 | — | — | 15.35 | — | — | — |
| P/OCF | — | — | 9.50 | 4.63 | 5.21 | — | — | 6.30 | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 4.57 | 1.77 | 0.86 | 1.47 | 1.68 | 1.69 | 0.44 | 1.31 | 1.09 | 1.67 |
| EV / EBITDA | — | — | — | — | 4.89 | — | — | 70.78 | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | 17.30 | 15.35 | — | — | 10.27 | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | -30.7% | -30.7% | -1.3% | 9.8% | 33.0% | 60.9% | 29.0% | 69.9% | 51.6% | 36.5% | 52.5% |
| Operating Margin | -140.4% | -140.4% | -124.8% | -108.4% | 7.9% | -23.2% | -248.4% | -12.9% | -20.7% | -15.1% | -207.6% |
| Net Profit Margin | -195.5% | -195.5% | -125.0% | -100.1% | -2.2% | -28.6% | -297.8% | -9.0% | -18.8% | -20.8% | -245.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -59.9% | -59.9% | -73.3% | -51.8% | -2.1% | -16.1% | -65.1% | -4.8% | -9.3% | -18.9% | -146.8% |
| ROA | -31.8% | -31.8% | -39.6% | -32.6% | -1.4% | -11.8% | -49.9% | -3.9% | -6.9% | -8.5% | -56.6% |
| ROIC | -35.7% | -35.7% | -58.8% | -38.7% | 5.5% | -14.0% | -50.0% | -5.9% | -8.9% | -9.2% | -70.6% |
| ROCE | -28.7% | -28.7% | -48.3% | -39.8% | 5.8% | -11.4% | -48.0% | -6.2% | -8.5% | -10.1% | -106.7% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.12 | 0.12 | 0.03 | 0.12 | 0.17 | 0.01 | 0.06 | 0.02 | 0.08 | 0.14 | 1.60 |
| Debt / EBITDA | — | — | — | — | 0.97 | — | — | 5.26 | — | — | — |
| Net Debt / Equity | — | 0.10 | -0.30 | 0.05 | 0.11 | -0.32 | -0.27 | -0.12 | -0.12 | -0.16 | 0.93 |
| Net Debt / EBITDA | — | — | — | — | 0.64 | — | — | -35.05 | — | — | — |
| Debt / FCF | — | — | — | 1.52 | 2.01 | — | — | -5.08 | — | — | — |
| Interest Coverage | -49.62 | -49.62 | -47.61 | -28.84 | -4.25 | -15.12 | -173.36 | -70.49 | -8.81 | -1.65 | -25.41 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.20 | 0.20 | 0.79 | 0.76 | 0.73 | 2.18 | 2.13 | 2.20 | 2.21 | 3.74 | 0.45 |
| Quick Ratio | 0.20 | 0.20 | 0.79 | 0.76 | 0.71 | 2.18 | 1.69 | 2.20 | 2.21 | 3.10 | 0.38 |
| Cash Ratio | 0.10 | 0.10 | 0.64 | 0.32 | 0.39 | 1.68 | 1.37 | 1.50 | 1.72 | 2.63 | 0.23 |
| Asset Turnover | — | 0.18 | 0.42 | 0.40 | 0.38 | 0.35 | 0.17 | 0.46 | 0.37 | 0.43 | 0.34 |
| Inventory Turnover | — | — | — | — | 95.39 | — | 1.57 | — | — | 4.09 | 3.56 |
| Days Sales Outstanding | — | 22.39 | 30.16 | 30.90 | 29.29 | 59.53 | 86.78 | 42.54 | 46.06 | 38.31 | 35.70 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | 4.7% | 3.1% | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | 6.3% | 7.5% | — | — | 6.5% | — | — | — |
| Buyback Yield | 5.2% | 6.1% | 1.8% | 1.5% | 0.0% | 0.0% | 33.4% | 0.0% | 2.4% | 0.0% | 0.0% |
| Total Shareholder Yield | 5.2% | 6.1% | 1.8% | 6.2% | 3.1% | 0.0% | 33.4% | 0.0% | 2.4% | 0.0% | 0.0% |
| Shares Outstanding | — | $34M | $27M | $25M | $25M | $4M | $2M | $1M | $1M | $589980 | $476801 |
Imminent liquidity and insolvency
According to recent market data, USEG trades at a price-to-sales multiple of 4.79, which appears disconnected from its negative profitability profile and suggests investors are pricing the equity as a speculative call option on commodity prices rather than a viable, cash-generating exploration and production enterprise.
The lack of a forward P/E or EV/EBITDA multiple highlights the absence of positive earnings or cash flow to anchor a traditional valuation model. This premium relative to the company's fundamental decay suggests that the market may be assigning residual value to the acreage footprint rather than the underlying production economics.
Based on historical financial statements, USEG has consistently generated negative ROIC, with figures reaching -8.2% in 2026Q1, indicating that the company is failing to earn a return on its invested capital and is instead presiding over a long-term erosion of shareholder value across its asset base.
The inability to achieve positive returns on capital suggests that the cost of maintaining legacy wells and corporate overhead significantly outweighs the revenue generated from hydrocarbon sales. This trend warrants further investigation into whether the company's capital allocation strategy is fundamentally flawed or if the asset base is simply too depleted to be profitable.
As reported in quarterly filings, the company's asset turnover ratio remains extremely low at 0.03, which, when compared to industry peers, suggests a structural inability to generate meaningful revenue from its existing asset base and highlights significant inefficiencies in managing its non-operated working interests.
The erratic nature of the cash conversion cycle and the high DSO figures indicate that the company lacks the scale to exert influence over its partners or optimize its collection processes. This operational friction appears to exacerbate the company's liquidity constraints by tying up limited cash in inefficient working capital cycles.
Based on the most recent quarterly data, the current ratio has deteriorated to 0.20, a level that indicates the company is highly vulnerable to short-term obligations and lacks the necessary liquidity buffer to survive even minor disruptions in its commodity-linked revenue streams or unexpected operational cost increases.
The rapid decline in the quick ratio suggests that the company's ability to meet immediate liabilities is almost entirely dependent on the timing of cash receipts from operators. Investors should monitor the company's cash runway closely, as the current liquidity profile appears insufficient to support ongoing operations without external capital.
While the company's low debt-to-equity ratio of 0.12 might appear healthy in isolation, as reported in recent filings, it is a misleading metric for this business model because it obscures the company's inability to generate the cash flow required to service even minimal debt obligations.
Analysts often misapply leverage ratios to micro-cap E&P firms by assuming that low debt equates to financial stability. In the case of USEG, the lack of debt is likely a symptom of restricted access to capital markets rather than a sign of strength, and investors should focus on cash burn rates instead.
Includes 30+ ratios · 30 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying USEG stock.
U.S. Energy Corp.'s current P/E ratio is -2.5x. The historical average is 31.3x.
U.S. Energy Corp.'s return on equity (ROE) is -59.9%. The historical average is -29.2%.
Based on historical data, U.S. Energy Corp. is trading at a P/E of -2.5x. Compare with industry peers and growth rates for a complete picture.
U.S. Energy Corp. has -30.7% gross margin and -140.4% operating margin.