EON Resources Inc. is a US-listed company in the oil & gas exploration & production industry. Its financial year ends in December.
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EON Resources Inc. valuation: adjust assumptions and compare models →
What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.
Revenue for the twelve months to June 2026 was $15m. Free-cash-flow margin fell to -59.5% from -28.9% a year earlier. Operating margin narrowed to -116.0% from -7.7%. It passes 1 of our 6 financial-health checks.
Our model value for EON Resources is under review, so past values are not shown until it is resolved.
Source: 10-Q filed October 22, 2026 on SEC EDGAR · Financials · Valuation
Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.
EON Resources Inc.'s trailing-twelve-month revenue fell 24.6% year on year, with a free-cash-flow margin of -59.5%.
Current signal Revenue growth accelerating: TTM revenue growth rose to -24.6% (+10.5pp vs the prior quarter).
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
Nothing in EON Resources Inc.'s latest figures clears our strength thresholds.
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Company announcements, filed results and changes that matter to shareholders.
The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.
We value EON Resources Inc. as an oil and gas producer, with every model that fits that kind of business. Cost of equity 7.1%: the 10-year Treasury yield (4.9%) plus a beta of 0.48 times a 4.5% equity risk premium.
| Model | Value per share | In the combined value? |
|---|---|---|
| Proved-reserve net asset value The SEC standardised measure of the company's proved oil and gas reserves (future net cash flows after tax at SEC average prices, discounted at 10%) less debt and other claims, per share. | — | Does not apply: This model is withheld pending its input or assumption review. |
| Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. | — | Does not apply: This model is withheld pending its input or assumption review. |
| Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. | — | Does not apply: This model is withheld pending its input or assumption review. |
| Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. | — | Does not apply: This model is withheld pending its input or assumption review. |
| Book value (net assets) Net assets per share: the value if returns just equal the cost of equity. | ~$0.9 | Primary model, counts double |
| Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. | — | Combined value withheld. Review the individual models and their assumptions. |
Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare EON Resources Inc. with oil and gas producers in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.
| At fiscal year end | 2024 | 2025 | Now |
|---|---|---|---|
| Share price | $0.82 | $0.38 | $0.30 |
| Market value | $27m | $12m | $15m |
| + Net debt (− = net cash) | $75m | $6m | $10m |
| Enterprise value | $102m | $18m | $25m |
| Multiples | |||
| Price / sales | 1.4x | 0.7x | 1.0x |
| Price / earnings | — | — | — |
| Price / free cash flow | 182.4x | — | — |
| EV / EBITDA | — | — | — |
Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Low.
No analyst estimates are published for EON Resources Inc.: too few analysts cover it.
| Quarter to | Estimate | Actual | Surprise |
|---|---|---|---|
| Jun 2025 | −$0.13 | −$0.06 | +50.3% |
| Mar 2025 | −$0.21 | −$0.11 | +47.6% |
| Dec 2024 | $0.29 | $0.27 | −6.9% |
| Sept 2024 | −$0.35 | −$0.67 | −91.4% |
Adjusted EPS as companies report it, against the average analyst estimate.
| Calendar year | 2023 | 2024 | 2025 | 2026 to date |
|---|---|---|---|---|
| Return | ||||
| EONR | −80% | −60% | −53% | −21% |
| Industry peers (median) | −8% | +2% | −15% | +18% |
| S&P 500 | +26% | +25% | +18% | +11% |
| Months that ended higher | ||||
| EONR | 75% | 42% | 33% | 46% |
| S&P 500 | 67% | 75% | 75% | 46% |
| Largest fall from a high during the year | ||||
| EONR | −87% | −88% | −80% | −80% |
| S&P 500 | −10% | −8% | −19% | −9% |
Worst fall since April 6, 2022: 98% from October 27, 2023 to August 6, 2025. Getting back needed a 4307% gain, and the shares have not yet recovered.
| Results released | Next day | S&P 500 next day | 5 days | 21 days |
|---|---|---|---|---|
| October 29, 2026 | −21.7% | −2.1% | — | — |
| April 28, 2026 | +3.4% | −0.5% | −3.9% | −21.6% |
| November 18, 2025 | −7.7% | −0.5% | −16.3% | −22.5% |
| August 19, 2025 | +4.9% | −0.8% | +3.2% | +46.7% |
| July 24, 2025 | −5.1% | +0.5% | −14.3% | −0.3% |
| May 21, 2025 | 0.0% | −1.6% | +0.8% | +31.9% |
| April 23, 2025 | +7.5% | +3.7% | −8.8% | −21.7% |
| April 22, 2025 | −1.1% | +4.2% | −10.5% | −22.1% |
| November 18, 2024 | −1.3% | +0.8% | −20.0% | −47.3% |
Source: SEC EDGAR filings. Retrieved October 29, 2026.
| Period | Revenue (TTM) |
|---|---|
| FY24 Q4 | $19.4M |
| FY25 Q1 | $20.6M |
| FY25 Q2 | $20.2M |
| FY25 Q3 | $17.2M |
| FY25 Q4 | $16.9M |
| FY26 Q1 | $13.4M |
| FY26 Q2 | $15.2M |
Source: SEC EDGAR filings. Retrieved October 29, 2026.
| Period | Operating margin (TTM) |
|---|---|
| FY24 Q4 | -19.8% |
| FY25 Q1 | -7.6% |
| FY25 Q2 | -7.7% |
| FY25 Q3 | -30.9% |
| FY25 Q4 | -62.1% |
| FY26 Q1 | -124.9% |
| FY26 Q2 | -116.0% |
Source: SEC EDGAR filings. Retrieved October 29, 2026.
| Period | FCF margin (TTM) |
|---|---|
| FY24 Q4 | 0.7% |
| FY25 Q1 | -16.2% |
| FY25 Q2 | -28.9% |
| FY25 Q3 | -75.9% |
| FY25 Q4 | -84.0% |
| FY26 Q1 | -86.4% |
| FY26 Q2 | -59.5% |
| Fiscal year | 2022 Dec 2022 | 2024 Dec 2024 | 2025 Dec 2025 | LTM Jun 2026 |
|---|---|---|---|---|
| Income | ||||
| Revenue | 35 | 19 | 17 | 15 |
| EBITDA | 19 | −1 | −7 | −11 |
| Operating income | 17 | −4 | −10 | −18 |
| Net income | 18 | −8 | −7 | −11 |
| Diluted EPS | — | −$0.25 | −$0.24 | −$0.23 |
| Growth (year on year) | ||||
| Revenue | — | −45.2% | −12.8% | −24.6% |
| EBITDA | — | −107.6% | — | — |
| Operating income | — | −122.1% | — | — |
| Net income | — | −144.4% | — | — |
| Margins | ||||
| EBITDA margin | 53.6% | −7.4% | −41.9% | −73.0% |
| Operating margin | 49.0% | −19.8% | −60.6% | −116.0% |
| Net margin | 51.7% | −41.9% | −44.1% | −74.1% |
| Free-cash-flow margin | 5.0% | 0.7% | −83.9% | −59.5% |
| Cash flow | ||||
| Cash from operations | 19 | 4 | −8 | −5 |
| Capital spending | 17 | 4 | 7 | 4 |
| Free cash flow | 2 | 0 | −14 | −9 |
| Stock-based pay | 0 | 3 | 1 | 1 |
| Free cash flow after stock pay | 2 | −3 | −15 | −10 |
| Balance sheet | ||||
| Cash | 2 | 3 | 0 | 1 |
| Total debt | — | 78 | 7 | 10 |
| Net debt (negative = net cash) | −2 | 75 | 6 | 10 |
| Diluted shares | — | 32m | 31m | 49m |
| Quarter | 2024 Q3 Sept 2024 | 2024 Q4 Dec 2024 | 2025 Q1 Mar 2025 | 2025 Q2 Jun 2025 | 2025 Q3 Sept 2025 | 2025 Q4 Dec 2025 | 2026 Q1 Mar 2026 | 2026 Q2 Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Income | ||||||||
| Revenue | 7 | 4 | 5 | 5 | 4 | 3 | 1 | 6 |
| EBITDA | 2 | −2 | 0 | 0 | −1 | −6 | −4 | 1 |
| Operating income | 2 | −3 | 0 | −0 | −2 | −8 | −6 | −1 |
| Net income | 1 | −4 | −2 | −3 | 6 | −10 | −6 | −1 |
| Diluted EPS | $0.24 | −$0.52 | −$0.11 | −$0.06 | $0.10 | −$0.31 | — | — |
| Growth (year on year) | ||||||||
| Revenue | +39.5% | — | +37.2% | −8.5% | −40.7% | −7.7% | −78.5% | +40.0% |
| EBITDA | +138.7% | — | — | −27.2% | −149.7% | — | <−999% | +513.2% |
| Operating income | +221.4% | — | — | — | −188.9% | — | — | — |
| Net income | — | — | — | — | +316.8% | — | — | — |
| Diluted EPS | — | — | — | — | −58.3% | — | — | — |
| Margins | ||||||||
| EBITDA margin | 33.8% | −62.9% | 2.2% | 3.0% | −28.4% | −185.3% | −455.7% | 13.3% |
| Operating margin | 27.0% | −87.2% | 0.1% | −6.9% | −40.4% | −246.3% | −640.7% | −19.6% |
| Net margin | 18.3% | −111.8% | −45.0% | −63.8% | 128.9% | −305.3% | −596.2% | −10.7% |
| Free-cash-flow margin | −13.4% | 2.0% | −65.4% | −43.0% | −187.8% | −31.4% | −31.6% | 8.0% |
| Cash flow | ||||||||
| Cash from operations | 1 | 0 | −2 | −0 | −7 | 2 | −0 | 1 |
| Capital spending | 2 | 0 | 1 | 2 | 1 | 3 | 0 | 0 |
| Free cash flow | −1 | 0 | −3 | −2 | −8 | −1 | −0 | 1 |
| Stock-based pay | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free cash flow after stock pay | −1 | −1 | −3 | −2 | −9 | −1 | −1 | 0 |
| Last 12 months unless stated | EONR | EP | BSIN | MXC | KGEI | EPSN | Median |
|---|---|---|---|---|---|---|---|
| Revenue, last 12 months | $15m | $31m | $7m | $7m | $57m | $68m | $1.3bn |
| Revenue growth, last 12 months | −24.6% | −20.8% | −48.7% | −6.1% | −2.1% | 53.7% | 10.1% |
| Revenue growth, 3-year average | — | −11.3% | −43.7% | −8.7% | — | 8.9% | 1.4% |
| Revenue growth, latest quarter | 40.0% | 8.6% | 5.2% | 12.9% | — | 57.1% | 31.9% |
| Operating margin | −116.0% | −224.1% | −153.7% | 22.4% | — | 1.0% | 19.9% |
| Operating margin, 3-year average | — | −99.0% | −162.7% | 23.4% | — | 12.6% | 16.5% |
| Net margin | −74.1% | −229.6% | −155.3% | 23.3% | 27.0% | −5.2% | 9.9% |
| Cash from operations / revenue | −33.7% | −19.8% | −62.1% | 57.5% | 72.3% | 38.5% | 42.1% |
| Free-cash-flow margin | −59.5% | −20.2% | −63.4% | −10.3% | −36.8% | — | 18.9% |
| Free-cash-flow margin, 3-year average | — | −36.5% | −28.9% | 5.4% | — | — | 19.1% |
| Stock pay / revenue | 7.5% | 2.6% | 28.4% | 2.4% | 3.0% | 3.1% | 1.5% |
| Change in share count | — | 24.7% | 33.7% | −0.5% | 0.4% | 23.2% | 0.4% |
| Line of business | Revenue | YoY |
|---|---|---|
| Crude Oil | $15.6M | ▼ 19.1% |
| Natural Gas and Natural Gas Liquids | $268,440 | ▼ 44.5% |
These categories overlap or exclude eliminations, so shares aren't shown.
From EON Resources Inc.'s 10-K filed September 28, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| Vanguard Capital Management LLC | $822,303 | 1.9M | 34.4% | ▼ 2.4% |
| Jane Street Group, LLC | $456,779 | 1.0M | 19.1% | New |
| Geode Capital Management, LLC | $200,855 | 455K | 8.4% | ▼ 4.6% |
| Blackrock, Inc. | $167,997 | 381K | 7.0% | ▼ 0.8% |
| Gsa Capital Partners LLP | $141,000 | 320K | 5.9% | New |
| Vanguard Fiduciary Trust Co | $119,856 | 271K | 5.0% | ▲ 13.8% |
| State Street Corp | $81,854 | 185K | 3.4% | 0.0% |
| Citadel Advisors LLC | $68,272 | 155K | 2.9% | New |
| Cetera Investment Advisers | $61,422 | 139K | 2.6% | ▲ 453.4% |
| Two Sigma Investments, LP | $53,532 | 121K | 2.2% | ▲ 15.2% |
| Northern Trust Corp | $42,785 | 97K | 1.8% | ▲ 1.1% |
| Prairiewood Capital, LLC | $26,932 | 61K | 1.1% | 0.0% |
From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not EON Resources Inc.'s complete shareholder register. Values are as reported by the filers .
| Insider | Date | Trade | Shares | Price | Value |
|---|---|---|---|---|---|
| Salvucci Joseph V Jr Director | November 26, 2025 | Buy | 30,000 | $0.41 | $12,300 |
| Salvucci Joseph V Sr Director | November 26, 2025 | Buy | 118,237 | $0.43 | $50,842 |
| Williams Mark VP of Finance and Admin | November 26, 2025 | Buy | 25,000 | $0.43 | $10,750 |
| Trotter Mitchell Chief Financial Officer | November 24, 2025 | Buy | 25,000 | $0.43 | $10,750 |
From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
Next expected around January 15, 2027 estimated from the company's past filing pattern, not announced
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| Financial statements | SEC 10-K and 10-Q filings | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
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