The company's financial flexibility is constrained by a debt-to-equity ratio of 1.33 and a current ratio of 0.78, indicating limited capacity to meet near-term obligations.
| Metric | TTM | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|
| Total Current Assets | 421.05M | 466.56M | 370.92M | 245.79M | 235.86M | 136.59M | 200.48M | 192.75M | 235.38M | 154.78M | 332.23M | 365.25M | 307.61M | 137.44M | 122.94M | 100.42M | 99.89M |
| Cash & Short-Term Investments | 14.7M | 40.18M | 14.06M | 44.44M | 56.8M | 48.76M | 40.86M | 45.15M | 112.16M | 32.67M | 31.15M | 29.32M | 198.15M | 33.22M | 28M | 31.23M | 14.99M |
| Cash Only | 14.7M | 40.18M | 14.06M | 44.44M | 56.8M | 48.76M | 40.86M | 45.15M | 112.16M | 32.67M | 31.15M | 29.32M | 198.15M | 33.22M | 28M | 31.23M | 14.99M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 227.75M | 299.7M | 238.77M | 163.37M | 151.81M | 63.98M | 85.22M | 94.32M | 100.64M | 75.81M | 60.23M | 126.93M | 77.32M | 83.84M | 74.14M | 43.94M | 70.64M |
| Days Sales Outstanding | 49.29 | 56.03 | 56.31 | 31.04 | 39.75 | 34.48 | 37.15 | 31.13 | 44.68 | 46.32 | 36.24 | 58.36 | 42.42 | 52.04 | 53.03 | 66.27 | 266.11 |
| Inventory | 0 | 17.29M | 13.72M | 6.07M | 10.16M | 3.2M | 5.48M | 0 | 0 | 8.06M | 6.97M | 0 | 0 | 0 | 187K | 4.15M | 559K |
| Days Inventory Outstanding | 1.49 | 4.71 | 12.14 | 3.08 | 5.82 | 2.2 | 3.82 | - | - | 6.88 | 4.25 | - | - | - | 0.27 | 11.02 | 8.97 |
| Other Current Assets | 178.61M | 109.39M | 104.36M | 24.67M | 4.35M | 20.66M | 62.42M | 53.28M | 22.58M | 32.01M | 226.27M | 209M | 32.14M | 20.37M | 18.48M | 19.61M | 10.41M |
| Total Non-Current Assets | 4.3B | 5.41B | 4.78B | 2.48B | 2.32B | 1.31B | 2.06B | 2.23B | 1.79B | 1.63B | 1.48B | 3.57B | 2.32B | 2.2B | 1.5B | 967.74M | 525.45M |
| Property, Plant & Equipment | 4.24B | 5.1B | 4.51B | 2.43B | 2.26B | 1.29B | 2.03B | 2.2B | 1.77B | 1.37B | 1.2B | 3.35B | 2.2B | 2.11B | 1.38B | 809.89M | 396.1M |
| Fixed Asset Turnover | 0.40x | 0.38x | 0.34x | 0.79x | 0.62x | 0.53x | 0.41x | 0.50x | 0.46x | 0.44x | 0.51x | 0.24x | 0.30x | 0.28x | 0.37x | 0.30x | 0.24x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 34.56M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 243.95M | 192.52M | 58.29M | 5.91M | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 56.81M | 35.91M | 84.72M | 46.74M | 54.3M | 16.34M | 35.39M | 27.92M | 19.52M | 16.75M | 88.28M | 154.93M | 105.91M | 37.06M | 35.83M | 14.13M | 5.96M |
| Total Assets | 4.72B | 5.88B | 5.15B | 2.73B | 2.55B | 1.44B | 2.26B | 2.42B | 2.02B | 1.78B | 1.81B | 3.93B | 2.62B | 2.34B | 1.63B | 1.07B | 625.34M |
| Asset Turnover | 0.35x | 0.33x | 0.30x | 0.70x | 0.55x | 0.47x | 0.37x | 0.46x | 0.41x | 0.34x | 0.33x | 0.20x | 0.25x | 0.25x | 0.31x | 0.23x | 0.15x |
| Asset Growth % | -12.59% | 14.16% | 88.9% | 6.83% | 76.89% | -36.29% | -6.44% | 19.62% | 13.52% | -1.71% | -53.89% | 49.88% | 12.21% | 43.66% | 52.38% | 70.81% | - |
| Total Current Liabilities | 541.48M | 601.14M | 595.59M | 415.28M | 526.91M | 197.59M | 170.9M | 200.47M | 277.42M | 187.94M | 216.81M | 425.02M | 253.97M | 262.07M | 214.36M | 150.24M | 79.27M |
| Accounts Payable | 195.57M | 185.12M | 159.89M | 102.52M | 71.39M | 38.28M | 40.52M | 69.5M | 58.34M | 32.27M | 26.37M | 39.01M | 16M | 48.67M | 46.01M | 41.34M | 34.28M |
| Days Payables Outstanding | 60.57 | 50.46 | 141.41 | 52.06 | 40.89 | 26.32 | 28.21 | 39.33 | 45.19 | 27.51 | 16.06 | 31.24 | 16.24 | 50.95 | 66.6 | 109.63 | 549.86 |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 160.02M | 117.92M | 24.73M | 33.12M | 48.84M | 37.85M | 26.84M | 34.54M | 65.44M | 0 | 0 | 26.84M | 0 | 0 |
| Other Current Liabilities | 317.83M | 295.5M | 25.96M | -115.1M | 76.32M | 23.79M | -8.39M | 68.8M | 159.94M | 102.89M | 141.56M | 236.35M | 165.74M | 203.08M | 128.75M | 100.13M | 41.82M |
| Current Ratio | 0.78x | 0.78x | 0.62x | 0.59x | 0.45x | 0.69x | 1.17x | 0.96x | 0.85x | 0.82x | 1.53x | 0.86x | 1.21x | 0.52x | 0.57x | 0.67x | 1.26x |
| Quick Ratio | 0.78x | 0.75x | 0.60x | 0.58x | 0.43x | 0.68x | 1.14x | 0.96x | 0.85x | 0.78x | 1.50x | 0.86x | 1.21x | 0.52x | 0.57x | 0.64x | 1.25x |
| Cash Conversion Cycle | -9.78 | 10.28 | -72.96 | -17.93 | 4.67 | 10.36 | 12.76 | - | - | 25.68 | 24.42 | - | - | - | -13.3 | -32.34 | -274.79 |
| Total Non-Current Liabilities | 2.42B | 2.58B | 1.77B | 1.2B | 1.51B | 1.27B | 1.25B | 1.05B | 980.29M | 1.41B | 1.47B | 1.94B | 1.1B | 1.24B | 653.28M | 506.82M | 256.97M |
| Long-Term Debt | 2.28B | 2.45B | 1.61B | 1.11B | 1.43B | 1.18B | 1.17B | 983.64M | 791.86M | 1.35B | 1.42B | 1.8B | 1.05B | 1.22B | 636.96M | 491.6M | 247.1M |
| Capital Lease Obligations | 114.65M | 26.73M | 71.34M | 9.44M | 5.73M | 8.92M | 17.21M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 105.75M | 16.29M | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 107.9M | 96.26M | 87.97M | 77.63M | 79.55M | 78.27M | 64.04M | 61.97M | 188.44M | 59.92M | 48.8M | 37.27M | 29.7M | 27.75M | 16.32M | 15.22M | 9.87M |
| Total Liabilities | 2.96B | 3.18B | 2.36B | 1.62B | 2.04B | 1.46B | 1.42B | 1.25B | 1.26B | 1.6B | 1.68B | 2.37B | 1.35B | 1.51B | 867.64M | 657.06M | 336.24M |
| Total Debt | 2.34B | 2.55B | 1.75B | 1.14B | 1.44B | 1.2B | 1.2B | 983.64M | 791.86M | 1.35B | 1.42B | 1.8B | 1.05B | 1.22B | 636.96M | 491.6M | 247.1M |
| Net Debt | 2.32B | 2.51B | 1.74B | 1.09B | 1.38B | 1.15B | 1.16B | 938.49M | 679.7M | 1.32B | 1.39B | 1.77B | 853.38M | 1.18B | 608.96M | 460.37M | 232.11M |
| Debt / Equity | 1.33x | 0.95x | 0.63x | 1.02x | 2.80x | - | 1.43x | 0.84x | 1.03x | 7.50x | 10.77x | 1.15x | 0.83x | 1.46x | 0.84x | 1.20x | 0.85x |
| Debt / EBITDA | -7.00x | 3.55x | 1.71x | 0.83x | 1.55x | - | - | 1.74x | 1.92x | 22.42x | - | 3.81x | 2.34x | 2.92x | 1.68x | 2.88x | - |
| Net Debt / EBITDA | -6.96x | 3.49x | 1.69x | 0.80x | 1.49x | - | - | 1.66x | 1.65x | 21.88x | - | 3.75x | 1.90x | 2.84x | 1.61x | 2.69x | - |
| Interest Coverage | -5.04x | -0.13x | 3.74x | 8.88x | 6.54x | -8.21x | -6.64x | 6.02x | 2.79x | -0.94x | -23.94x | 1.87x | 2.14x | 2.01x | 4.00x | 3.95x | -33.97x |
| Total Equity | 1.76B | 2.7B | 2.79B | 1.11B | 513.78M | -21.44M | 841.87M | 1.17B | 765.58M | 180.57M | 131.45M | 1.56B | 1.27B | 831.72M | 760.01M | 411.1M | 289.11M |
| Equity Growth % | -75.48% | -3.04% | 150.76% | 116.19% | 2496.03% | -102.55% | -28.3% | 53.38% | 323.97% | 37.37% | -91.59% | 22.87% | 52.97% | 9.44% | 84.87% | 42.2% | - |
| Book Value per Share | 46.46 | 73.53 | 134.02 | 65.85 | 35.52 | -1.84 | 72.80 | 100.71 | 63.77 | 16.01 | 13.20 | 217.79 | 189.35 | 129.78 | 140.61 | 65.78 | 46.26 |
| Total Shareholders' Equity | 1.76B | 2.7B | 2.79B | 1.11B | 513.78M | -21.44M | 841.87M | 1.17B | 765.58M | 180.57M | 131.45M | 1.56B | 1.27B | 831.72M | 760.01M | 411.1M | 289.11M |
| Common Stock | 387K | 381K | 354K | 168K | 171K | 120K | 2.37M | 2.34M | 2.42M | 2.42M | 2.14M | 1.44M | 1.43M | 1.28M | 1.28M | 0 | 0 |
| Retained Earnings | -2.08B | -1.12B | -948.88M | -1.64B | -2.28B | -2.42B | -1.55B | -1.2B | -1.67B | -2.22B | -1.96B | 252.59M | -12.98M | -130.98M | -192.63M | 0 | 0 |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -4K | -4K | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
High leverage and liquidity
As reported in recent financial filings, Vital Energy's total assets have contracted from $6.3 billion in 2024Q3 to $4.7 billion in 2025Q3, reflecting a significant reduction in the company's asset base as it struggles to maintain scale through its aggressive Permian Basin consolidation strategy.
The decline in total assets, coupled with a persistent negative retained earnings balance of $2.1 billion, suggests that the company's capital allocation strategy has failed to generate sustainable value. Investors should monitor whether this contraction indicates a forced divestiture of assets or a fundamental impairment of the company's secondary-tier acreage.
Based on reported figures, Vital Energy's debt-to-equity ratio has climbed to 1.33 as of 2025Q3, indicating that the company's reliance on debt financing has intensified even as its equity base remains pressured by ongoing operational losses and the absence of meaningful retained earnings growth.
The elevated leverage profile suggests that the company is highly sensitive to credit market conditions and interest rate volatility. This debt burden appears to be a necessity-driven strategy to fund ongoing drilling and M&A, which may limit the company's ability to navigate future commodity price downturns.
According to recent SEC filings, Vital Energy's cash position has plummeted to just $14.7 million in 2025Q3, while the current ratio of 0.78 indicates that the firm lacks sufficient liquid assets to comfortably cover its near-term obligations without relying on external financing or further asset sales.
The consistent decline in cash reserves suggests that the company is operating with a minimal margin of safety, leaving it vulnerable to operational shocks or unexpected capital requirements. This liquidity profile warrants close investigation, as it may force management to prioritize debt service over necessary capital expenditures.
As indicated by the balance sheet data, the company's net PPE has fluctuated significantly, dropping from $5.1 billion in 2024Q4 to $4.2 billion in 2025Q3, which may suggest that the carrying value of its Permian assets is subject to ongoing impairment risk and accounting volatility.
The absence of goodwill on the balance sheet is notable, yet the volatility in net PPE suggests that the company's asset base may be overvalued relative to its actual cash-generating potential. Investors should be wary that future 'ceiling test' write-downs could further erode the equity base and exacerbate leverage ratios.
Quick answers to the most common questions about buying VTLE stock.
As of 2024, Vital Energy, Inc. (VTLE) had total assets of $5.88B including $466.6M in current assets.
Vital Energy, Inc. (VTLE) carries total debt of $2.55B, offset by $40.2M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Vital Energy, Inc. (VTLE) has total shareholders' equity (book value) of $2.70B ($73.53 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Vital Energy, Inc. (VTLE) reported a current ratio of 0.78x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.