PerpEquities

Equity · Energy

Battalion Oil Corporation (BATL) perpetual futures

Battalion Oil Corporation is an independent energy company focused on acquiring, exploring, developing, and producing crude oil and natural gas onshore in the United States, with assets in the Delaware Basin, Texas.

-1.9%NYSE American closed
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Trading data

Perpetual market activity

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24h volume
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Open interest
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Best liquidity
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Tightest spread
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Highest volume
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Settlement mix
USDT · 1/1
Perp/spot vol.
-
OI / float
-
Spot performance
1D-1.90%
5D-4.63%
1M-20.16%
6M-75.71%
YTD-8.85%
1Y-11.21%

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Company data

Company fundamentals

Updated 5h ago
Market cap
$22.7M
Updated 5h ago
Revenue
$162.9M
Trailing 12 months
Revenue growth
-
Next fiscal year
Profit margin
-24.5%
P/E
-0.2
Peer P/E -7.4
Free cash flow
$66.3M
Trailing 12 months
More metrics
Net income
-$39.9M
Trailing 12 months
P/S
0.1
Peer P/E
-7.4
Similar listed perps
Revenue estimate
$0
Next fiscal year
Earnings
2026-11-18
Revenue est. $46.9M · Updated 5h ago
Dividend
-

Fundamental detail

Annual + quarterly
Latest revenue$165M
Net margin+7.2%
Free cash flow-$35.5M
Net debt$161.9M
2020$148.3M
2021$285.2M
2022$359.1M
2023$220.8M
2024$193.9M
2025$165M
PeriodRevenueGrowthNet incomeFCF
2020$148.3M-34%-$229.7M-$51.7M
2021$285.2M+92%-$28.3M$15.6M
2022$359.1M+26%$18.5M-$47.8M
2023$220.8M-39%-$3M-$28.9M
2024$193.9M-12%-$31.9M-$29.3M
2025$165M-15%$11.9M-$35.5M
PeriodGross marginOperating marginNet marginROEROA
2020+27.3%-176.6%-154.9%-255.3%-66.3%
2021+63.2%+36.2%-9.9%-44.5%-7.3%
2022+65.1%+42.4%+5.2%+21.9%+3.8%
2023+45.4%+8.0%-1.4%-1.7%-0.6%
2024+40.9%-6.1%-16.4%-17.6%-7.4%
2025+10.8%-4.0%+7.2%+6.1%+2.6%
PeriodCashDebtNet debtCurrent ratio
2020$4.3M$168.2M$163.9M0.58
2021$48.7M$182.4M$133.6M0.72
2022$32.7M$218.1M$185.4M0.53
2023$57.5M$197.9M$140.4M0.67
2024$19.7M$165.9M$146.2M0.70
2025$28M$189.8M$161.9M0.90
PeriodMarket capEnterprise valueP/SP/E
2020$134.5M$298.4M0.9-0.6
2021$159.4M$293M0.6-5.6
2022$158.6M$343.9M0.48.5
2023$158M$298.4M0.7-10.4
2024$28.3M$174.5M0.1-0.4
2025$18.6M$180.5M0.1-0.5
Q3 2024$45.3M
Q4 2024$49.7M
Q1 2025$47.5M
Q2 2025$42.8M
Q3 2025$43.4M
Q4 2025$32.3M
Q1 2026$39.1M
Q2 2026$48.1M
PeriodRevenueGrowthNet incomeFCF
Q3 2024$45.3M-16%$21.6M-$12M
Q4 2024$49.7M+5%-$22.2M-$6.2M
Q1 2025$47.5M-5%$6M-$7.1M
Q2 2025$42.8M-13%$4.8M-$23.1M
Q3 2025$43.4M-4%-$735K$81.1M
Q4 2025$32.3M-35%$1.8M-$16.8M
Q1 2026$39.1M-18%-$56.5M-$1.5M
Q2 2026$48.1M+12%$15.5M$3.5M
PeriodGross marginOperating marginNet marginROEROA
Q3 2024+43.9%+2.3%+47.8%+61.8%+4.7%
Q4 2024+22.3%-36.1%-44.7%-12.2%-5.2%
Q1 2025+47.6%+7.1%+12.7%+3.2%+1.2%
Q2 2025+37.1%-0.4%+11.2%+2.5%+1.0%
Q3 2025+71.4%+1.9%-1.7%+3.6%-0.1%
Q4 2025-7.5%-29.8%+5.6%+0.9%+0.4%
Q1 2026+74.2%-5.7%-144.6%-35.9%-13.7%
Q2 2026+47.9%+14.1%+32.2%+7.6%+3.6%
PeriodCashDebtNet debtCurrent ratio
Q3 2024$29.8M$150.3M$120.4M0.47
Q4 2024$19.7M$165.9M$146.2M0.70
Q1 2025$73.6M$227M$153.5M1.16
Q2 2025$44.6M$222.7M$178.1M0.93
Q3 2025$50.7M$421.7M$371M0.96
Q4 2025$28M$189.8M$161.9M0.90
Q1 2026$46.4M$23.2M-$23.2M0.90
Q2 2026$83.1M$158.9M$75.8M2.19
PeriodMarket capEnterprise valueP/SP/E
Q3 2024$109.8M$230.2M2.44.9
Q4 2024$28.3M$174.5M0.6-0.2
Q1 2025$21.4M$174.8M0.5-0.9
Q2 2025$21.2M$199.3M0.5-1.5
Q3 2025$19.9M$390.9M0.5-0.3
Q4 2025$18.6M$180.5M0.6-0.4
Q1 2026$67.9M$44.7M1.7-0.3
Q2 2026$34.6M$110.5M0.71.0

Refreshed 5h ago

Charts: revenue, profit, cash flow & valuation
Revenue$48.1MQ2 2026
$13.5M$27.1M$40.6M$54.1MQ3 2023: $54.1MQ4 2023: $47.2MQ1 2024: $49.9MQ2 2024: $49.1MQ3 2024: $45.3MQ4 2024: $49.7MQ1 2025: $47.5MQ2 2025: $42.8MQ3 2025: $43.4MQ4 2025: $32.3MQ1 2026: $39.1MQ2 2026: $48.1MQ3 2023Q2 2026
Net income$15.5MQ2 2026
-$34.2M-$11.9M$10.4M$32.7MQ3 2023: -$53.8MQ4 2023: $32.7MQ1 2024: -$31.2MQ2 2024: -$105KQ3 2024: $21.6MQ4 2024: -$22.2MQ1 2025: $6MQ2 2025: $4.8MQ3 2025: -$735KQ4 2025: $1.8MQ1 2026: -$56.5MQ2 2026: $15.5MQ3 2023Q2 2026
EBITDA$32.1MQ2 2026
-$23.7M$2.2M$28.2M$54.1MQ3 2023: -$33.4MQ4 2023: $54.1MQ1 2024: -$11.4MQ2 2024: $19.8MQ3 2024: $39.8MQ4 2024: -$12.2MQ1 2025: $25.5MQ2 2025: $25.6MQ3 2025: $19.5MQ4 2025: $21MQ1 2026: -$49.6MQ2 2026: $32.1MQ3 2023Q2 2026
Free cash flow$3.5MQ2 2026
$2.9M$29M$55M$81.1MQ3 2023: -$1.5MQ4 2023: -$3.1MQ1 2024: -$20.7MQ2 2024: $9.4MQ3 2024: -$12MQ4 2024: -$6.2MQ1 2025: -$7.1MQ2 2025: -$23.1MQ3 2025: $81.1MQ4 2025: -$16.8MQ1 2026: -$1.5MQ2 2026: $3.5MQ3 2023Q2 2026
EPS$0.34Q2 2026
-$2.38-$1.05$0.29$1.63Q3 2023: -$3.5Q4 2023: $1.63Q1 2024: -$2.24Q2 2024: -$0.53Q3 2024: $0.34Q4 2024: -$1.88Q1 2025: -$0.35Q2 2025: -$0.21Q3 2025: -$0.91Q4 2025: -$0.76Q1 2026: -$3.72Q2 2026: $0.34Q3 2023Q2 2026
Cash / Debt$83.1MQ2 2026
$105.4M$210.8M$316.3M$421.7MQ3 2023 · Cash: $42.6MQ3 2023 · Debt: $199.5MQ4 2023 · Cash: $58MQ4 2023 · Debt: $298MQ1 2024 · Cash: $49.4MQ1 2024 · Debt: $314.5MQ2 2024 · Cash: $54.4MQ2 2024 · Debt: $162.1MQ3 2024 · Cash: $29.8MQ3 2024 · Debt: $150.3MQ4 2024 · Cash: $19.7MQ4 2024 · Debt: $165.9MQ1 2025 · Cash: $73.6MQ1 2025 · Debt: $227MQ2 2025 · Cash: $44.6MQ2 2025 · Debt: $222.7MQ3 2025 · Cash: $50.7MQ3 2025 · Debt: $421.7MQ4 2025 · Cash: $28MQ4 2025 · Debt: $189.8MQ1 2026 · Cash: $46.4MQ1 2026 · Debt: $23.2MQ2 2026 · Cash: $83.1MQ2 2026 · Debt: $158.9MQ3 2023Q2 2026
CashDebt
Profitability+47.9%Q2 2026
-89.9%-35.2%+19.5%+74.2%Q3 2023 · Gross margin: +53.3%Q4 2023 · Gross margin: +41.0%Q1 2024 · Gross margin: +48.9%Q2 2024 · Gross margin: +48.7%Q3 2024 · Gross margin: +43.9%Q4 2024 · Gross margin: +22.3%Q1 2025 · Gross margin: +47.6%Q2 2025 · Gross margin: +37.1%Q3 2025 · Gross margin: +71.4%Q4 2025 · Gross margin: -7.5%Q1 2026 · Gross margin: +74.2%Q2 2026 · Gross margin: +47.9%Q3 2023 · Operating margin: +12.6%Q4 2023 · Operating margin: -1.4%Q1 2024 · Operating margin: 0.0%Q2 2024 · Operating margin: +10.4%Q3 2024 · Operating margin: +2.3%Q4 2024 · Operating margin: -36.1%Q1 2025 · Operating margin: +7.1%Q2 2025 · Operating margin: -0.4%Q3 2025 · Operating margin: +1.9%Q4 2025 · Operating margin: -29.8%Q1 2026 · Operating margin: -5.7%Q2 2026 · Operating margin: +14.1%Q3 2023 · Net margin: -99.4%Q4 2023 · Net margin: +69.2%Q1 2024 · Net margin: -62.6%Q2 2024 · Net margin: -0.2%Q3 2024 · Net margin: +47.8%Q4 2024 · Net margin: -44.7%Q1 2025 · Net margin: +12.7%Q2 2025 · Net margin: +11.2%Q3 2025 · Net margin: -1.7%Q4 2025 · Net margin: +5.6%Q1 2026 · Net margin: -144.6%Q2 2026 · Net margin: +32.2%Q3 2023Q2 2026
Gross marginOperating marginNet margin
Revenue growth+12.4%Q2 2026
-23.1%-11.3%+0.6%+12.4%Q2 2024: -9.5%Q3 2024: -16.3%Q4 2024: +5.1%Q1 2025: -4.8%Q2 2025: -12.8%Q3 2025: -4.2%Q4 2025: -35.0%Q1 2026: -17.7%Q2 2026: +12.4%Q3 2023Q2 2026
Shares outstanding45.2MQ2 2026
11.3M22.6M33.9M45.2MQ3 2023: 16.5MQ4 2023: 16.5MQ1 2024: 16.5MQ2 2024: 16.5MQ3 2024: 16.5MQ4 2024: 16.5MQ1 2025: 16.5MQ2 2025: 16.5MQ3 2025: 16.5MQ4 2025: 16.5MQ1 2026: 17.4MQ2 2026: 45.2MQ3 2023Q2 2026
Valuation1.0Q2 2026
-0.01.63.34.9Q3 2023 · P/E: -0.4Q4 2023 · P/E: 1.5Q1 2024 · P/E: -0.7Q2 2024 · P/E: -1.7Q3 2024 · P/E: 4.9Q4 2024 · P/E: -0.2Q1 2025 · P/E: -0.9Q2 2025 · P/E: -1.5Q3 2025 · P/E: -0.3Q4 2025 · P/E: -0.4Q1 2026 · P/E: -0.3Q2 2026 · P/E: 1.0Q3 2023 · P/S: 1.9Q4 2023 · P/S: 3.3Q1 2024 · P/S: 2.0Q2 2024 · P/S: 1.2Q3 2024 · P/S: 2.4Q4 2024 · P/S: 0.6Q1 2025 · P/S: 0.5Q2 2025 · P/S: 0.5Q3 2025 · P/S: 0.5Q4 2025 · P/S: 0.6Q1 2026 · P/S: 1.7Q2 2026 · P/S: 0.7Q3 2023Q2 2026
P/EP/S
Revenue$165M2025
$89.8M$179.5M$269.3M$359.1M2018: $226.6M2019: $224.7M2020: $148.3M2021: $285.2M2022: $359.1M2023: $220.8M2024: $193.9M2025: $165M20182025
Net income$11.9M2025
-$776.9M-$502.6M-$228.3M$46M2018: $46M2019: -$1.1B2020: -$229.7M2021: -$28.3M2022: $18.5M2023: -$3M2024: -$31.9M2025: $11.9M20182025
EBITDA$92.9M2025
-$682.3M-$367.4M-$52.6M$262.3M2018: $262.3M2019: -$997.1M2020: -$161M2021: $25.1M2022: $94M2023: $86.9M2024: $36M2025: $92.9M20182025
Free cash flow-$35.5M2025
-$640.6M-$421.9M-$203.1M$15.6M2018: -$859.4M2019: -$325M2020: -$51.7M2021: $15.6M2022: -$47.8M2023: -$28.9M2024: -$29.3M2025: -$35.5M20182025
EPS-$2.242025
-$63.3-$41.2-$19.1$2.92018: $2.92019: -$85.32020: -$14.22021: -$1.742022: $1.122023: -$0.922024: -$3.92025: -$2.2420182025
Cash / Debt$28M2025
$153.3M$306.6M$459.8M$613.1M2018 · Cash: $46.9M2018 · Debt: $613.1M2019 · Cash: $14.3M2019 · Debt: $147.2M2020 · Cash: $4.3M2020 · Debt: $168.2M2021 · Cash: $48.7M2021 · Debt: $182.4M2022 · Cash: $32.7M2022 · Debt: $218.1M2023 · Cash: $57.5M2023 · Debt: $197.9M2024 · Cash: $19.7M2024 · Debt: $165.9M2025 · Cash: $28M2025 · Debt: $189.8M20182025
CashDebt
Profitability+10.8%2025
-334.9%-201.5%-68.2%+65.1%2018 · Gross margin: +50.9%2019 · Gross margin: +24.1%2020 · Gross margin: +27.3%2021 · Gross margin: +63.2%2022 · Gross margin: +65.1%2023 · Gross margin: +45.4%2024 · Gross margin: +40.9%2025 · Gross margin: +10.8%2018 · Operating margin: +40.7%2019 · Operating margin: -468.2%2020 · Operating margin: -176.6%2021 · Operating margin: +36.2%2022 · Operating margin: +42.4%2023 · Operating margin: +8.0%2024 · Operating margin: -6.1%2025 · Operating margin: -4.0%2018 · Net margin: +20.3%2019 · Net margin: -467.8%2020 · Net margin: -154.9%2021 · Net margin: -9.9%2022 · Net margin: +5.2%2023 · Net margin: -1.4%2024 · Net margin: -16.4%2025 · Net margin: +7.2%20182025
Gross marginOperating marginNet margin
Revenue growth-14.9%2025
-5.8%+26.9%+59.6%+92.3%2019: -0.8%2020: -34.0%2021: +92.3%2022: +25.9%2023: -38.5%2024: -12.2%2025: -14.9%20182025
Shares outstanding16.5M2025
4.1M8.3M12.4M16.5M2018: 15.7M2019: 12.3M2020: 16.2M2021: 16.3M2022: 16.5M2023: 16.4M2024: 16.5M2025: 16.5M20182025
Valuation-0.52025
-5.7-1.03.88.52018 · P/E: 3.52019 · P/E: -0.22020 · P/E: -0.62021 · P/E: -5.62022 · P/E: 8.52023 · P/E: -10.42024 · P/E: -0.42025 · P/E: -0.52018 · P/S: 0.72019 · P/S: 0.72020 · P/S: 0.92021 · P/S: 0.62022 · P/S: 0.42023 · P/S: 0.72024 · P/S: 0.12025 · P/S: 0.120182025
P/EP/S

Next catalyst

Catalysts

Earnings
2026-11-18
Revenue est. $46.9M · Updated 5h ago

No unusual perp activity right now.

Research data

Analysts, filings and peer context

Estimates

6
DateEPS estimateRevenue estimateGrowthAnalysts
Q2 20280.00$66M+37%0
Q3 20280.00$66M+52%0
Q4 20280.00$53.1M+65%0
Q4 20280.00$51.9M+61%0
Q1 20290.07$51.9M+33%1
Q1 20290.07$52M+33%1

Company events

6
2026-11-18EarningsActual - / Estimate -0.21-
2026-08-12EarningsActual -0.34 / Estimate -0.21Miss
2026-08-11EarningsActual - / Estimate -0.21-
2026-08-10EarningsActual - / Estimate -0.21-
2026-05-13EarningsActual -0.93 / Estimate -0.21Miss
2026-03-23EarningsActual -1.16 / Estimate 0.05Miss

Peer comparison

Similar listed perps
NameMarket capP/SP/EProfit marginVenues
DNN$2.3B809.6-11.9-6,732.7%1UUUU$2.7B25.4-32.0-77.3%1RIG$5.3B1.3-2.8-40.2%1SKINNOV$19.3B0.3-21.7-1.3%1YPF$19.5B1.0-50.2-3.1%1VG$32.1B1.99.7+21.5%2LNG$56.6B2.520.0+13.1%1OXY$57.8B2.38.7+28.8%3

FMP company data

Company intelligence

Updated: Sep 5, 2026, 09:49 PM UTC

Company profile

Sector
Energy
Industry
Oil & Gas Exploration & Production
Chief executive
Matthew Steele
Employees
40
IPO date
Dec 24, 2019
Country
US
Exchange
New York Stock Exchange Arca
Website
Altman Z-scorei-0.61
Piotroski scorei5/9
FMP ratingiC
Owner earningsi$12.28M$0.27 per share
ESG risk ratingiB+Industry rank: 15 out of 110

Rating factors

Return on equityi
1
Return on assetsi
1
Debt to equityi
2
Price to earningsi
1
Price to booki
5

Company press releases

Battalion Oil Corporation Announces Second Quarter 2026 Financial and Operating ResultsGlobeNewsWireBattalion Oil Announces Refinancing and Execution of Third Amended and Restated Credit AgreementGlobeNewsWireBattalion Oil Announces Updated Drilling ProgramGlobeNewsWireBattalion Oil Corporation Announces First Quarter 2026 Financial and Operating ResultsGlobeNewsWireBattalion Oil Announces Letter of Intent for Joint Development Agreement to Accelerate Monument Draw ActivityGlobeNewsWireBattalion Oil Increases Compression Capacity, Building on Previously Announced Midstream ReliabilityGlobeNewsWire
Market cap history
$34.09M+48.3%Jun 26 – Sep 26
$22.47M$29.34M$36.21MHigh: $36.21M · 2026-09-01Low: $22.47M · 2026-07-01Latest: $34.09M · 2026-09-04Jun 26Jul 26Aug 26Sep 26
Latest: $34.09M · 2026-09-04High: $36.21M · 2026-09-01Low: $22.47M · 2026-07-01
Largest fund holders
FundWeightShares held
VTI0%542.6K
VXF0%153.4K
FSMAX0%74.1K
IWC0%40.5K
FSKAX0%19.7K
VUN.TO0%3.2K
VITNX0%2.7K
VEQT.TO0%1.2K
VGRO.TO0%648.9
VBAL.TO0%262.7
VUS.TO0%235.5
VCNS.TO0%29

Analyst track record

How the analysts covering BATL have done: ratings, price-target accuracy and the measured reaction after their calls.

12 months3 years
Ratings00
Analysts00
Buy / hold / sell––
Upgrades / downgrades / initiations0 / 0 / 00 / 0 / 0
Price targets hit / missed––
Avg. return after a rating (TipRanks)––
Best / worst call– / –– / –

After buy calls on this stock: not enough measured cases yet

Latest ratings

DateAnalystCallTarget
Sep 11, 2023John M. WhiteRoth MKMHoldMaintained$18.60article ↗
Consensus over the last 12 months buy hold sell avg. target month-end close
Monthly buy, hold and sell shares of analyst ratings with the average price target and the month-end close$1.00$2.00$3.00$4.00$5.00Nov 25 · Buy 0 · Hold 0 · Sell 0Nov 25Dec 25 · Buy 0 · Hold 0 · Sell 0Jan 26 · Buy 0 · Hold 0 · Sell 0Jan 26Feb 26 · Buy 0 · Hold 0 · Sell 0Mar 26 · Buy 0 · Hold 0 · Sell 0Mar 26Apr 26 · Buy 0 · Hold 0 · Sell 0May 26 · Buy 0 · Hold 0 · Sell 0May 26Jun 26 · Buy 0 · Hold 0 · Sell 0Jul 26 · Buy 0 · Hold 0 · Sell 0Jul 26Aug 26 · Buy 0 · Hold 0 · Sell 0Sep 26 · Buy 0 · Hold 0 · Sell 0Sep 26Oct 26 · Buy 0 · Hold 0 · Sell 0Nov 25 · month-end close $1.11Dec 25 · month-end close $1.13Jan 26 · month-end close $3.81Feb 26 · month-end close $5.52Mar 26 · month-end close $3.90Apr 26 · month-end close $3.79May 26 · month-end close $1.45Jun 26 · month-end close $1.31Jul 26 · month-end close $1.45Aug 26 · month-end close $1.35Sep 26 · month-end close $1.05Oct 26 · month-end close $1.03

Share of analysts per call each month (latest call per analyst within 180 days). Targets and closes in USD.

TipRanks data via FMP · computed Oct 2, 2026 · 0 ratings

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