Battalion Oil Corp (BATL)

Battalion Oil Corporation, an independent energy company, engages in the acquisition, production, exploration, and development of onshore oil and natural gas assets in the United States. The company holds interests in the Delaware Basin located in Pecos, Reeves, Ward, and Winkler counties in Texas. It also sells crude oil, natural gas, and natural gas liquids primarily to independent marketers, oil and natural gas companies, and gas pipeline companies. The company was formerly known as Halcón Resources Corporation and changed its name to Battalion Oil Corporation in January 2020. Battalion Oil Corporation was founded in 1987 and is headquartered in Houston, Texas.

Ticker: BATL
Exchange: NYSE
Sector: Energy
Industry: Oil & Gas E&P
Market cap: $29.17M
52-week range: $0.67 - $29.70

Valuation

Share price: $0.75 (close of Nov 6, 2026)
P/E (TTM): -0.15x
Price to book: 0.14x
Price to free cash flow: 1.08x
Enterprise value: $110.63M
Book value per share: $5.22

Price performance

Period	Change
1 day	+2.74%
5 days	-21.87%
1 month	-27.18%
3 months	-44.44%
6 months	-74.66%
Year to date	-33.63%
1 year	-29.91%
3 years	-87.80%
5 years	-93.30%
All time	-92.68%

Short interest

As of: Oct 15, 2026
Short % of float: 10.90%
Shares short: 4.28M
Days to cover: 1.94
Change since prior report: -10.60%
Source: FINRA consolidated short interest

Profitability and growth

Return on invested capital: -3.70%
Return on assets: 2.58%
Return on capital employed: -1.67%
Gross margin: 4.84%
Net margin: 7.20%
EBITDA margin: -4.02%
Revenue growth: -14.62%
Free cash flow growth: 10.56%

Cash flow and balance sheet

Free cash flow yield (TTM): 92.69%
Current ratio: 2.19x
Net debt to EBITDA: 2.46x

Latest reported year

Period end: Dec 31, 2025
Fiscal year: 2025
Revenue: $164.96M
Cost of revenue: $156.98M
Gross profit: $7.99M
EBITDA: -$6.64M
Net income: $11.88M
Interest expense: $28.84M

Income statement by year

Period end	Revenue	Gross profit	Net income
2025-12-31	$164.96M	$7.99M	$11.88M
2024-12-31	$193.22M	$6.61M	-$31.88M
2023-12-31	$220.76M	$36.61M	-$3.05M
2022-12-31	$357.40M	$169.77M	$18.54M
2021-12-31	$284.15M	$119.89M	-$28.32M
2020-12-31	$148.29M	-	-$229.71M
2018-12-31	$225.53M	-	$45.96M
2017-12-31	$375.84M	-	$535.69M
2015-12-31	$550.28M	-	-$1.92B
2014-12-31	$1.15B	-	$315.96M

Margins and returns by year

Period end	Gross margin	Net margin	Return on equity	Return on capital
2025-12-31	4.84%	7.20%	-	-3.70%
2024-12-31	3.42%	-16.50%	-	-6.91%
2023-12-31	16.58%	-1.38%	-4.48%	6.61%
2022-12-31	47.50%	5.19%	21.91%	48.96%
2021-12-31	42.19%	-9.97%	-44.45%	42.01%
2020-12-31	-	-154.90%	-255.35%	-104.49%
2018-12-31	-	20.38%	3.84%	2.54%
2017-12-31	-	142.53%	49.97%	48.30%
2015-12-31	-	-349.39%	-	-93.80%
2014-12-31	-	27.52%	17.83%	-1.04%

Cash and debt by year

Period end	Cash	Debt
2025-12-31	$27.96M	$180.96M
2024-12-31	$19.71M	$145.53M
2023-12-31	$57.53M	$140.28M
2022-12-31	$32.73M	$182.68M
2021-12-31	$46.86M	$181.56M
2020-12-31	$4.29M	$158.49M
2018-12-31	$46.87M	$613.11M
2017-12-31	$424.07M	$409.17M
2015-12-31	$8.03M	$2.87B
2014-12-31	$43.71M	$3.75B

Free cash flow by year

Period end	Free cash flow	Stock-based compensation
2025-12-31	$39.09M	-$109.00K
2024-12-31	$35.35M	$152.00K
2023-12-31	$17.59M	-$1.07M
2022-12-31	$78.80M	$2.21M
2021-12-31	$68.57M	$2.01M
2020-12-31	$50.20M	$2.58M
2018-12-31	-$49.84M	$15.27M
2017-12-31	$61.38M	$36.76M
2015-12-31	$467.00M	$14.53M
2014-12-31	$624.85M	$18.73M

Investor relations

Next earnings report

Next confirmed report: Nov 12, 2026

Past earnings dates

Reported	Fiscal period	EPS estimate
2026-08-12	Jun 2026	-
2026-05-13	Mar 2026	-
2026-03-23	Dec 2025	-
2025-11-13	Sep 2025	-
2025-08-14	Jun 2025	-
2025-05-14	Mar 2025	-
2025-03-31	Dec 2024	-
2024-11-12	Sep 2024	-

Filings and sources

Company website: battalionoil.com
SEC filings: 10-K, 10-Q and 8-K on EDGAR
Earnings calendar: All upcoming reports

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