Evolution Petroleum Corporation

EPM

EnergySmall CapUS Equities · NYSE / NASDAQ

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Company Profile

Evolution Petroleum Corporation, an energy company, engages in the development, production, ownership, exploitation, and investment of onshore oil and gas properties in the United States. The company was founded in 2003 and is based in Houston, Texas.

Valuation

Market Cap$163M

Current Price$3.85as of Jun 23, 2026

P/E Ratio110.65

P/B Ratio2.27

EV / EBITDA7.38

EV / Sales2.31

Profitability

Operating Margin4.9%

Net Profit Margin1.7%

EBITDA Margin31.3%

Returns

ROE2.1%

ROCE4.4%

ROIC %3.6%

ROA0.9%

Solvency

Current Ratio0.81

Debt / Equity0.52

Debt / Assets0.23

CFO / Net Profit22.44

Price History▼ 18.88% over 1Y

Technical Chart

Historical Performance Charts

5-year financial trends. Figures in USD millions.

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

No margin data.

Growth Summary

Latest fiscal year: 2025

Revenue$86M▼ 0.0%

EBITDA$27M▼ 0.7%

Net Profit$1M▼ 63.9%

Cash from Ops (CFO)$33M▲ 45.4%

Free Cash Flow (FCF)$11M▼ 142.4%

Revenue CAGR 3Y-7.6%

Revenue CAGR 5Y-

Net Profit CAGR 3Y-64.4%

Net Profit CAGR 5Y-

Historical Growth

Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)

Year	Revenue	EBITDA	Net Profit	FCF	ROE	Rev Growth 1Y	NP Growth 1Y
2025	$86M	$27M	$1M	$11M	2.1%	-0.0%	-63.9%
2024	$86M	$27M	$4M	$-27M	5.0%	-33.2%	-88.4%
2023	$129M	$60M	$35M	$44M	38.2%	18.0%	7.9%
2022	$109M	$50M	$33M	$-2M	43.2%	-	-
2021	-

Financial Statements

Income statement, balance sheet, and cash flow as reported

Consolidated Figures in USD Millions.

Metric	2021	2022	2023	2024	2025
Total Revenue	-	108.93	128.51	85.88	85.84
Operating Revenue	-	108.93	128.51	85.88	85.84
Cost Of Revenue	-	56.18	72.69	66.88	69.71
Gross Profit	-	52.75	55.83	19	16.13
Operating Expense	-	7.37	10.71	11.09	11.95
Selling General And Administration	-	6.84	9.58	9.64	10.33
Total Expenses	-	63.54	83.40	77.97	81.67
Operating Income	4.19	-	-	-	-
Total Operating Income As Reported	-	45.38	45.11	7.91	4.18
EBITDA	-	49.77	60.02	27.02	26.83
Normalized EBITDA	-	53.53	59.51	28.31	26.36
EBIT	-	41.71	45.75	6.96	4.84
Interest Income	-	0.10	0.12	0.34	0.19
Interest Expense	-	0.57	0.46	1.46	2.97
Net Interest Income	-	-0.48	-0.34	-1.12	-2.78
Other Income Expense	-	-3.76	0.51	-1.29	0.47
Interest Income Non Operating	-	0.10	0.12	0.34	0.19
Interest Expense Non Operating	-	0.57	0.46	1.46	2.97
Net Non Operating Interest Income Expense	-	-0.48	-0.34	-1.12	-2.78
Pretax Income	-	41.14	45.29	5.50	1.87
Tax Provision	-	8.51	10.07	1.42	0.40
Tax Rate For Calcs	-	0	0	0	0
Tax Effect Of Unusual Items	-	-0.78	0.11	-0.33	0.10
Net Income Continuous Operations	-	32.63	35.22	4.08	1.47
Net Income From Continuing And Discontinued Operation	-	32.63	35.22	4.08	1.47
Net Income From Continuing Operation Net Minority Interest	-	32.63	35.22	4.08	1.47
Net Income	-	32.63	35.22	4.08	1.47
Net Income Common Stockholders	-	31.96	34.66	4	1.11
Net Income Including Noncontrolling Interests	-	32.63	35.22	4.08	1.47
Normalized Income	-	35.61	34.82	5.04	1.10
Diluted NI Availto Com Stockholders	-	31.96	34.66	4	1.11
Basic Average Shares	-	32.95	32.98	32.69	33.16
Diluted Average Shares	-	33.31	33.19	32.90	33.32
Reconciled Depreciation	-	8.05	14.27	20.06	21.99
Reconciled Cost Of Revenue	-	56.18	72.69	66.88	69.71
Total Unusual Items	-	-3.76	0.51	-1.29	0.47
Total Unusual Items Excluding Goodwill	-	-3.76	0.51	-1.29	0.47
Special Income Charges	-24.94	0	-	-	-
Write Off	0.15	0	-	-	-
Impairment Of Capital Assets	24.79	0	-	-	-
Gain On Sale Of Security	-	-3.76	0.51	-1.29	0.47
General And Administrative Expense	-	6.84	9.58	9.64	10.33
Other Gand A	-	6.71	7.94	7.50	7.85
Salaries And Wages	-	0.12	1.64	2.14	2.48
Other Operating Expenses	-	0.53	1.13	1.46	1.62
Otherunder Preferred Stock Dividend	-	0.67	0.56	0.08	0.37

Peer Comparison

Energy sector peers, ranked by market cap

Company	Ticker	Market Cap	P/E	P/B	ROE	EV/EBITDA
Evolution Petroleum Corporationthis co.	EPM	$163M	110.65↑ premium	2.27	2.1%	7.38
enCore Energy Corp.	EU	$308M	-5.41	1.34	-24.8%	-7.40
PrimeEnergy Resources Corporation	PNRG	$299M	11.35	1.38	12.2%	2.72
Infinity Natural Resources, Inc.	INR	$252M	10.60	0.82	7.7%	2.32
Kolibri Global Energy Inc.

Learn while you research

Hand-picked academy chapters to deepen your understanding of Evolution Petroleum Corporation and the metrics that matter.

01 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read 02 Valuation Multiples Explained

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Year

Revenue

EBITDA

Net Profit

FCF

ROE

Rev Growth 1Y

NP Growth 1Y

2025

$86M

$27M

$1M

$11M

2.1%

-0.0%

-63.9%

2024

$86M

$27M

$4M

$-27M

5.0%

-33.2%

-88.4%

2023

$129M

$60M

$35M

$44M

38.2%

18.0%

7.9%

2022

$109M

$50M

$33M

$-2M

43.2%

2021

Metric

2021

2022

2023

2024

2025

Total Revenue

108.93

128.51

85.88

85.84

Operating Revenue

108.93

128.51

85.88

85.84

Cost Of Revenue

56.18

72.69

66.88

69.71

Gross Profit

52.75

55.83

16.13

Operating Expense

7.37

10.71

11.09

11.95

Selling General And Administration

6.84

9.58

9.64

10.33

Total Expenses

63.54

83.40

77.97

81.67

Operating Income

4.19

Total Operating Income As Reported

45.38

45.11

7.91

4.18

EBITDA

49.77

60.02

27.02

26.83

Normalized EBITDA

53.53

59.51

28.31

26.36

EBIT

41.71

45.75

6.96

4.84

Interest Income

0.10

0.12

0.34

0.19

Interest Expense

0.57

0.46

1.46

2.97

Net Interest Income

-0.48

-0.34

-1.12

-2.78

Other Income Expense

-3.76

0.51

-1.29

0.47

Interest Income Non Operating

0.10

0.12

0.34

0.19

Interest Expense Non Operating

0.57

0.46

1.46

2.97

Net Non Operating Interest Income Expense

-0.48

-0.34

-1.12

-2.78

Pretax Income

41.14

45.29

5.50

1.87

Tax Provision

8.51

10.07

1.42

0.40

Tax Rate For Calcs

Tax Effect Of Unusual Items

-0.78

0.11

-0.33

0.10

Net Income Continuous Operations

32.63

35.22

4.08

1.47

Net Income From Continuing And Discontinued Operation

32.63

35.22

4.08

1.47

Net Income From Continuing Operation Net Minority Interest

32.63

35.22

4.08

1.47

Net Income

32.63

35.22

4.08

1.47

Net Income Common Stockholders

31.96

34.66

1.11

Net Income Including Noncontrolling Interests

32.63

35.22

4.08

1.47

Normalized Income

35.61

34.82

5.04

1.10

Diluted NI Availto Com Stockholders

31.96

34.66

1.11

Basic Average Shares

32.95

32.98

32.69

33.16

Diluted Average Shares

33.31

33.19

32.90

33.32

Reconciled Depreciation

8.05

14.27

20.06

21.99

Reconciled Cost Of Revenue

56.18

72.69

66.88

69.71

Total Unusual Items

-3.76

0.51

-1.29

0.47

Total Unusual Items Excluding Goodwill

-3.76

0.51

-1.29

0.47

Special Income Charges

-24.94

Write Off

0.15

Impairment Of Capital Assets

24.79

Gain On Sale Of Security

-3.76

0.51

-1.29

0.47

General And Administrative Expense

6.84

9.58

9.64

10.33

Other Gand A

6.71

7.94

7.50

7.85

Salaries And Wages

0.12

1.64

2.14

2.48

Other Operating Expenses

0.53

1.13

1.46

1.62

Otherunder Preferred Stock Dividend

0.67

0.56

0.08

0.37

Company

Ticker

Market Cap

P/E

P/B

ROE

EV/EBITDA

Evolution Petroleum Corporationthis co.

EPM

$163M

110.65↑ premium

2.27

2.1%

7.38

enCore Energy Corp.

$308M

-5.41

1.34

-24.8%

-7.40

PrimeEnergy Resources Corporation

PNRG

$299M

11.35

1.38

12.2%

2.72

Infinity Natural Resources, Inc.

INR

$252M

10.60

0.82

7.7%

2.32

Kolibri Global Energy Inc.

Evolution Petroleum Corporation

Valuation

Profitability

Returns

Solvency

Historical Performance Charts

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Historical Growth

Financial Statements

Peer Comparison

Evolution Petroleum Corporation

Valuation

Profitability

Returns

Solvency

Historical Performance Charts

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Historical Growth

Financial Statements

Peer Comparison

Key concepts to brush up on