Battalion Oil Corporation (BATL) Key Metrics
BATL valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $60.1M
- Enterprise value
- $365.7M
- P/E (TTM)
- —
- Forward P/E
- 2.0
- PEG ratio
- —
- Price / sales
- 0.4 10-yr median 0.6
- Price / book
- 2.1 10-yr median 0.9
- EV / EBITDA
- 11.0 10-yr median 3.7
- Dividend yield
- —
- Beta
- 0.46
BATL key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsBATL valuation Price multiples at each fiscal year-end price.
BATL returns How much profit the business earns on the capital it uses.
BATL per-share figures Results divided by the shares outstanding at year-end.
BATL financial health Debt, liquidity and how easily interest is covered.
BATL efficiency & capital use Working capital cycle and where the cash goes.
BATL valuation history
BATL returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
BATL debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
BATL cash returned to shareholders
BATL price vs earnings per share
BATL key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $18.6M | $28.3M | $158.0M | $160.3M | $159.4M | $134.5M | $165.8M | — | — | — |
| Enterprise value | $180.5M | $174.5M | $298.4M | $345.7M | $293.0M | $298.4M | $298.7M | — | — | — |
| P/E ratio | 1.6 | — | — | 8.6 | — | — | — | — | — | — |
| Price / sales | 0.1 | 0.1 | 0.7 | 0.4 | 0.6 | 0.9 | 0.7 | — | — | — |
| Price / book | 0.1 | 0.2 | 0.9 | 1.9 | 2.5 | 1.5 | 0.5 | — | — | — |
| Price / free cash flow | — | — | — | — | 10.2 | — | — | — | — | — |
| Price / operating cash flow | 0.5 | 0.8 | 9.0 | 2.0 | 2.3 | 2.7 | — | — | — | — |
| EV / sales | 1.1 | 0.9 | 1.4 | 1.0 | 1.0 | 2.0 | 1.3 | — | — | — |
| EV / EBITDA | 1.9 | 4.8 | 3.4 | 3.7 | 11.7 | — | — | — | — | — |
| EV / free cash flow | — | — | — | — | 18.7 | — | — | — | — | — |
| Earnings yield | 63.9% | −112.6% | −1.9% | 11.6% | −17.8% | −170.8% | −634.2% | — | — | — |
| Free cash flow yield | −190.8% | −103.7% | −18.3% | −29.8% | 9.8% | −38.4% | −196.1% | — | — | — |
| Dividend yield | 261.9% | 113.8% | 7.6% | — | — | — | — | — | — | — |
| Shareholder yield (dividends + buybacks) | 261.9% | 113.8% | 7.6% | — | 0.2% | 0.0% | 0.0% | — | — | — |
| Share price at fiscal year-end | $1.13 | $1.72 | $9.61 | $9.71 | $9.80 | $8.30 | $13.45 | — | — | — |
| Per share | ||||||||||
| Revenue per share | $10.02 | $11.78 | $13.43 | $21.75 | $17.54 | $9.15 | $18.23 | $1.44 | $2.83 | $4.50 |
| Earnings per share | $0.72 | −$1.94 | −$0.19 | $1.12 | −$1.74 | −$14.18 | −$85.29 | $0.29 | $4.01 | −$5.02 |
| Operating cash flow per share | $2.38 | $2.15 | $1.07 | $4.77 | $4.22 | $3.10 | −$2.12 | $0.43 | $0.86 | $2.99 |
| Free cash flow per share | −$2.16 | −$1.78 | −$1.75 | −$2.90 | $0.96 | −$3.19 | −$26.37 | −$5.46 | −$9.84 | −$0.13 |
| Cash per share | $1.70 | $1.20 | $3.50 | $1.98 | $3.00 | $0.27 | $1.16 | $0.30 | $3.17 | $0.00 |
| Book value per share | $11.75 | $11.04 | $10.62 | $5.13 | $3.92 | $5.55 | $25.69 | $7.61 | $8.03 | $1.21 |
| Tangible book value per share | $11.75 | $11.04 | $10.62 | $5.13 | $3.92 | $5.55 | $25.69 | $7.61 | $8.03 | $1.21 |
| Dividends per share | $2.96 | $1.96 | $0.73 | — | — | — | — | — | $0.36 | $0.09 |
| Capex per share | $4.53 | $3.93 | $2.82 | $7.67 | $3.25 | $6.29 | $24.25 | $5.89 | $10.69 | $3.12 |
| Debt per share | $11.53 | $10.08 | $12.04 | $13.21 | $11.22 | $10.38 | $11.94 | $3.94 | $3.08 | $10.52 |
| Shares outstanding | 16.5M | 16.5M | 16.4M | 16.5M | 16.3M | 16.2M | 12.3M | 157.3M | 133.6M | 93.0M |
| Change in shares outstanding | 0.0% | +0.1% | −0.4% | +1.5% | +0.4% | +31.5% | −92.2% | +17.8% | +43.6% | −13.5% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 6.3% | −17.9% | −2.4% | 25.0% | −36.9% | −113.0% | −138.9% | 4.1% | 90.4% | −566.0% |
| Return on invested capital (ROIC) | −1.5% | −2.9% | 4.7% | 32.6% | 36.2% | −58.8% | −74.9% | 3.3% | 66.5% | −2.4% |
| Return on assets (ROA) | 2.7% | −7.0% | −0.6% | 4.2% | −7.7% | −49.3% | −78.8% | 2.5% | 36.2% | −19.6% |
| Return on tangible assets | 2.6% | −7.4% | −0.6% | 3.8% | −7.3% | −66.3% | −179.8% | 2.2% | 32.6% | −35.4% |
| Free cash flow margin | −21.5% | −15.1% | −13.1% | −13.3% | 5.5% | −34.9% | −144.6% | −379.2% | −347.6% | −2.8% |
| Income quality (OCF / net income) | 3.29 | — | — | 4.25 | — | — | — | 1.46 | 0.21 | — |
| Financial health | ||||||||||
| Total debt | $189.8M | $165.9M | $197.9M | $218.1M | $182.4M | $168.2M | $147.2M | $619.4M | $411.2M | $978.7M |
| Cash & short-term investments | $28.0M | $19.7M | $57.5M | $32.7M | $48.7M | $4.3M | $14.3M | $46.9M | $424.1M | $24,000 |
| Net debt | $161.9M | $146.2M | $140.4M | $185.4M | $133.6M | $163.9M | $132.9M | $572.5M | −$12.9M | $978.7M |
| Debt / equity | 0.98 | 0.91 | 1.13 | 2.58 | 2.86 | 1.87 | 0.46 | 0.52 | 0.38 | 8.69 |
| Debt / assets | 0.41 | 0.38 | 0.41 | 0.45 | 0.47 | 0.49 | 0.25 | 0.30 | 0.25 | 0.74 |
| Net debt / EBITDA | 1.74 | 4.06 | 1.62 | 1.97 | 5.32 | — | — | 2.18 | −0.11 | 15.48 |
| Current ratio | 0.90 | 0.70 | 0.67 | 0.53 | 0.72 | 0.58 | 0.67 | 0.89 | 3.14 | 0.77 |
| Quick ratio | 0.90 | 0.70 | 0.67 | 0.43 | 0.70 | 0.54 | 0.56 | 0.86 | 3.07 | 0.74 |
| Interest coverage | -0.2 | -0.4 | 0.5 | 6.4 | 12.9 | -39.5 | -27.1 | 2.1 | 10.1 | -0.4 |
| Working capital | −$6.5M | −$23.6M | −$43.9M | −$76.9M | −$33.7M | −$35.3M | −$35.3M | −$17.1M | $321.5M | −$46.9M |
| Invested capital | $355.3M | $327.8M | $314.9M | $270.0M | $197.3M | $253.9M | $449.5M | $1.77B | $1.06B | $1.09B |
| Tangible asset value | $193.4M | $181.7M | $174.6M | $84.6M | $63.7M | $90.0M | $316.6M | $1.20B | $1.07B | $112.7M |
| Net current asset value | −$210.1M | −$195.3M | −$220.2M | −$312.6M | −$238.6M | −$208.7M | −$196.9M | −$741.9M | −$99.8M | −$1.05B |
| Graham number | $13.82 | — | — | $11.38 | — | — | — | $7.07 | $26.91 | — |
| Graham net-net per share | −$13.99 | −$12.76 | −$14.35 | −$20.04 | −$15.30 | −$13.60 | −$16.77 | −$4.88 | −$0.86 | −$11.70 |
| Capital allocation | ||||||||||
| Dividends paid | $48.7M | $32.2M | $12.0M | — | — | — | — | — | $48.0M | $8.2M |
| Share buybacks (net) | — | — | — | — | $290,000 | $32,000 | $0 | $0 | $0 | — |
| Dividend payout ratio | 410.0% | — | — | — | — | — | — | — | 9.0% | — |
| Dividends + buybacks / free cash flow | — | — | — | — | 1.9% | — | — | — | — | — |
| Capex / revenue | 45.2% | 33.4% | 21.0% | 35.3% | 18.6% | 68.7% | 133.0% | 408.9% | 378.0% | 69.4% |
| Capex / operating cash flow | 190.8% | 183.0% | 264.0% | 160.7% | 77.2% | 203.0% | — | 1,379.7% | 1,246.7% | 104.2% |
| Capex / depreciation | 1.43 | 1.22 | 0.82 | 2.44 | 1.17 | 1.64 | 2.69 | 547.28 | 325.26 | 1.73 |
| Stock-based compensation / revenue | −0.1% | 0.1% | −0.5% | 0.6% | 0.7% | 1.7% | −3.6% | 6.7% | 9.7% | 6.3% |
| SG&A / revenue | 8.9% | 19.0% | 8.6% | 4.9% | 5.8% | 12.4% | 18.5% | 27.4% | 29.5% | 29.9% |
| Efficiency | ||||||||||
| Days sales outstanding | 42.4 | 46.4 | 50.4 | 38.0 | 49.7 | 117.6 | 120.0 | 104.8 | 92.1 | 295.2 |
| Days of inventory on hand | — | — | 26.3 | 29.5 | 9.6 | 24.6 | 17.8 | 25.2 | 16.5 | 6.6 |
| Days payables outstanding | 35.1 | 64.6 | 102.7 | 99.5 | 83.6 | 99.4 | 112.3 | 171.8 | 56.6 | 41.3 |
| Cash conversion cycle (days) | 7.4 | -18.2 | -25.9 | -32.0 | -24.4 | 42.8 | 25.5 | -41.9 | 52.0 | 260.6 |
| Receivables turnover | 8.60 | 7.86 | 7.24 | 9.60 | 7.35 | 3.10 | 3.04 | 3.48 | 3.96 | 1.24 |
| Payables turnover | 10.40 | 5.65 | 3.56 | 3.67 | 4.37 | 3.67 | 3.25 | 2.12 | 6.45 | 8.85 |
| Inventory turnover | — | — | 13.87 | 12.36 | 38.21 | 14.83 | 20.46 | 14.51 | 22.19 | 55.00 |
| Asset turnover | 0.37 | 0.42 | 0.45 | 0.82 | 0.77 | 0.32 | 0.17 | 0.12 | 0.26 | 0.17 |
| Average receivables | $19.2M | $24.7M | $30.5M | $37.4M | $38.8M | $47.8M | $73.9M | $65.0M | $95.4M | $338.1M |
| Average payables | $14.1M | $20.3M | $33.9M | $34.1M | $24.0M | $29.4M | $52.5M | $52.3M | $30.0M | $35.8M |
| Average inventory | — | — | $8.7M | $10.1M | $2.7M | $7.3M | $8.3M | $7.7M | $8.7M | $5.8M |
| Intangibles / total assets | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Computed from BATL's annual financial statements (latest annual report filed March 23, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
BATL valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Battalion Oil traded at 1.6 times earnings. Battalion Oil earned a return on equity of 6.3% and a return on invested capital of −1.5% in fiscal 2025. It ended the year with $189.8 million of debt and $28.0 million in cash and short-term investments, net debt of $161.9 million. It returned $48.7 million to shareholders: $48.7 million in dividends and $0 in share buybacks. The share count fell 82.3% from 93.0M to 16.5M over 9 years.
See the BATL income statement, the BATL chart for price history, or the BATL stock overview for the latest quote and news.
BATL key metrics FAQ
What is Battalion Oil's P/E ratio?
Battalion Oil traded at 1.6 times earnings at the end of fiscal 2025.
What is Battalion Oil's EV/EBITDA?
Battalion Oil's enterprise value was 1.9 times EBITDA at the end of fiscal 2025 (enterprise value $180.5 million, EBITDA $92.9 million); the current EV/EBITDA is 11.0.
What is Battalion Oil's return on equity?
Battalion Oil's return on equity (ROE) was 6.3% in fiscal 2025: net income of $11.9 million on average shareholders' equity of $187.6 million.
What is Battalion Oil's ROIC?
Battalion Oil's return on invested capital was −1.5% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Battalion Oil have?
Battalion Oil had total debt of $189.8 million at the end of fiscal 2025, a debt-to-equity ratio of 0.98 and $161.9 million of net debt (1.74 times EBITDA).
What is Battalion Oil's dividend yield?
Battalion Oil paid $48.7 million in dividends in fiscal 2025 ($2.96 per share), a payout ratio of 410.0%.
What is Battalion Oil's free cash flow yield?
Battalion Oil generated -$35.5 million of free cash flow in fiscal 2025, a free cash flow yield of −190.8% on its market value at year-end ($18.6 million).
What is Battalion Oil's current ratio?
Battalion Oil's current ratio was 0.90 at the end of fiscal 2025: current assets were 0.90 times current liabilities.