undamentalytics Newsletter
Sign in

Evolution Petroleum Corp (EPM) stock

Add to watchlist

Add holding +

NYSE: EPM NYSE Oil & Gas Exploration & Production Next results ~November 10, 2026

D Fundamentals grade

Evolution Petroleum Corp is a US-listed company in the oil & gas exploration & production industry. Its financial year ends in June.

Stock price today

Loading chart…

Third-party market data · may be delayed

Fair value per share

~$4.9

Cash-flow model

Base case. Range ~$3.4–$7.1 across our lower- and higher-growth cases (-10%–0% a year).

Price vs value

Modestly undervalued

The price is inside our value range, 27% below our base value.

Price used: $3.61, November 2, 2026

Evolution Petroleum Corp valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Funds65 adding, 49 cuttingOf 17 active managers that changed their stake, 7 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Evolution Petroleum files

Where Evolution Petroleum stands after its latest 10-K

Revenue for the twelve months to June 2026 was $86m, up 0.6% on a year earlier, against a decline of 3.2% a quarter earlier. Free-cash-flow margin fell to 0.6% from 28.0% a year earlier. The diluted share count is up 2.8% on a year earlier, which dilutes existing holders. It passes 0 of our 3 financial-health checks. Our cash-flow model value is $4.71 a share, against a share price of $3.79.

Source: 10-K filed September 16, 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.

The Fundamentalytics view

Next results ~November 10, 2026 (estimated)

Evolution Petroleum Corp's trailing-twelve-month revenue grew 0.6% year on year, with a free-cash-flow margin of 0.6%. Where it lags: gross margin of 41.7% ranks 12 of 12 oil & gas exploration & production companies we cover.

Our discounted-cash-flow model values the business at ~$4.9 per share in the base case (~$3.4–$7.1 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Results well short of expectations: Reported earnings per share missed the analysts' consensus estimate by 350% in the quarter to 2026-06-30.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Growth speeding up. The growth rate is 3.7 points higher than a quarter earlier.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 150.0% over 90 days.

Things to watch

  • Share dilution. Diluted shares rose 2.8% in a year.
  • Below peers: gross margin. Gross margin of 41.7% ranks 12 of 12 oil & gas exploration & production companies we cover (median 83.5%).
  • Below peers: stock pay as % of revenue. Stock pay as % of revenue of 2.7% ranks 38 of 47 oil & gas exploration & production companies we cover (median 1.2%).

Latest results: FY2026 Q4

Filed September 16, 2026
Earnings per share
-$0.02 against an average estimate of $0.01: missed by 350.0%
Revenue
$24m, up 14.7% on a year earlier
Share reaction
-2.2% in the first session after the results on September 15, 2026, against -0.9% for the S&P 500
Next report
November 10, 2026; average EPS estimate $0.01

Evolution Petroleum's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-5.0%
  • 1 week-8.6%
  • 1 month+0.8%
  • This year+11.2%
  • 1 year-7.4%
  • 5 years-5.3%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$86.3M
Operating margin
4.0%
Net margin
-2.8%
EPS (TTM, diluted)
$-0.07

Growth

Revenue growth
+0.6%
Change in growth rate
+3.7 pts
Share count change
+2.8%

Cash

Free cash flow (TTM)
$530,000
FCF margin
0.6%
Stock pay % of revenue
2.7%

Earnings

Last results
September 15, 2026
Next results (est.)
December 15, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Announcement
  3. Agreement
  4. Agreement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Evolution Petroleum Corp valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03
Hold12-month view
12-month price target
~$4.2
Price used
$3.60close November 3, 2026
Implied change
▲ +16%
Uncertainty
Low

How we got here: the combined value of 3 valuation models built for a business like Evolution Petroleum Corp (see the models table below and how they are combined) , with a 7.79% cost of equity. The models span ~$3.5–~$4.9; that spread sets a 15% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Evolution Petroleum Corp's free cash flow after stock-based pay ( $19.3M, FY2026 Q4 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Evolution Petroleum Corp as an oil and gas producer, with every model that fits that kind of business. Cost of equity 7.8%: the 10-year Treasury yield (4.9%) plus a beta of 0.63 times a 4.5% equity risk premium.

Value per share by model
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: latest tagged standardised measure is for 2021-06-30: out of date
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$4.9 ~$3.4–$7.1 Included
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: no positive earnings in the latest twelve months
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$3.5 ~$2.8–$4.4 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$4.1 ~$3.6–$4.7 Included
Combined value Weighted average of the models that apply: the primary model (proved-reserve net asset value) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$4.2 ~$3.5–$4.9 3 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Evolution Petroleum Corp 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.

What moves the value

  • Revenue growth 5 points higher ▲ more than doubles
  • Last year's free-cash-flow margin change, if it persists ▼ −98%
  • Discount rate 1 point higher ▼ −95%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $6$9$13$18$24$32
8.5% $5$7$9$13$17$23
10% $3$5$7$10$13$18

Valuation multiples over time Market data may be delayed

At fiscal year end 20162017201820192020202120222023202420252026
Share price$2.78$4.26$5.42$4.15$1.75$3.21$3.75$5.92$4.19$4.09$3.57
Market value$92m$141m$180m$138m$58m$105m$125m$197m$138m$136m$122m
+ Net debt (− = net cash)−$34m−$23m−$25m−$32m−$20m−$1m$13m−$11m$33m$35m$50m
Enterprise value$57m$118m$155m$106m$38m$104m$138m$186m$171m$171m$172m
Multiples
Price / sales 3.5x4.1x4.4x3.2x2.0x3.2x1.1x1.5x1.6x1.6x1.4x
Price / earnings 3.7x17.5x9.2x9.0x9.7x—3.8x5.6x33.8x92.5x—
Price / free cash flow 3.0x8.6x8.8x5.7x18.9x——3.8x—5.7xn/m
EV / EBITDA 8.4x6.3x6.9x4.4x4.0x—2.6x3.1x6.1x6.5x6.6x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

65 /100

Moderate moat

How hard Evolution Petroleum's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 12 / 20

    Net income has been a median 7.8% of total assets over 10 years.

  • Pricing power 11 / 20

    Gross margin has been a median 43.8%, moving by 5.9 percentage points (standard deviation) across 5 years.

  • Durability 8 / 20

    Operating margin has been a median 23.8%; its worst year was -65.3%.

  • Cash conversion 20 / 20

    Free cash flow was positive in 9 of 9 years, at a median 44.1% of revenue.

  • Discipline 14 / 20

    The diluted share count rose 4.6% over five years; stock-based pay has been a median 2.8% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 10, 2026, after the close. Analysts expect revenue of $23m and EPS of $0.01 (range $0.00 to $0.02) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $0.05 +152% $90m +4%
Next $0.10 +92% $87m −3%

Next year's EPS estimate has moved +150.0% in 90 days, across 2 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +4.0% on 90 days ago. In the last 30 days, 3 analysts raised Evolution Petroleum Corp's forecast and 1 cut it.

Consensus EPS forecast Evolution Petroleum Corp, last 90 days
$0.00 $0.05 $0.10 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $0.05 Current fiscal year, 60 days ago: $0.03 Current fiscal year, 30 days ago: $0.06 Current fiscal year, 7 days ago: $0.05 Current fiscal year, Now: $0.05 $0.05 Next fiscal year, 90 days ago: $0.04 Next fiscal year, 60 days ago: $0.04 Next fiscal year, 30 days ago: $0.04 Next fiscal year, 7 days ago: $0.07 Next fiscal year, Now: $0.10 $0.10

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $0.05$0.04
60 days ago $0.03$0.04
30 days ago $0.06$0.04
7 days ago $0.05$0.07
Now $0.05$0.10

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.01 −$0.02 −350.0%
Dec 2025 $0.01 $0.00 −100.0%
Sept 2025 $0.01 $0.00 −100.0%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, September 15, 2026

No numeric guidance in Evolution Petroleum Corp's latest earnings release (filed September 15, 2026). Some companies give their outlook only on the earnings call.

How our valuation uses these forecasts

Our cash-flow model grows Evolution Petroleum Corp's revenue by +0.6% next year and -4.6% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+3.8%, weight 64%) and the company's own record (-5.0%, weight 36%) . How the weights are set.

Analyst recommendations

4 analysts, Oct 2026
Buy4100%
Hold00%
Sell00%

Monthly trend

  1. Oct 202644
  2. Sep 202644
  3. Aug 2026314
  4. Jul 2026224

Counts of recommendations published by analysts covering Evolution Petroleum Corp, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
8.3%
of tradable shares
Days to cover
6.49
at average volume
Short interest, 1 month
+0%
to October 15, 2026
Held by institutions
46%
of shares
Held by insiders
9.5%
of shares
Employees
11
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −7.4%

$3.90 on October 31, 2025 to $3.61

ThenNowEffect
Revenue (last 12 months) $86m $86m +0.6%
P/S multiple 1.5x 1.4x −5.4%
Share count 33m 34m −2.7%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years −25.0%

$4.82 on November 3, 2023 to $3.61

ThenNowEffect
Revenue (last 12 months) $129m $86m −32.8%
P/S multiple 1.2x 1.4x +15.1%
Share count 33m 34m −3.1%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
EPM+86%+59%−17%−2%−25%+11%
Industry peers (median)+88%+54%−8%+2%−15%+18%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
EPM58%67%42%50%50%55%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
EPM−29%−36%−42%−24%−32%−31%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 81% from October 9, 2018 to March 18, 2020. Getting back needed a 413% gain, reached on July 31, 2023, 1230 days after the low.

Price behaviour

52-week range
$2.95 – $4.66
From 52-week high
−22.5%
vs 50-day average
−0.6%
vs 200-day average
−6.6%
Volatility (1 year)
42%
Beta vs S&P 500
-0.40

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
7 up, 5 down
typical move ±5.1%
After a week
6 up, 6 down
typical move ±6.1%
After a month
6 up, 6 down
typical move ±9.8%
Results releasedNext dayS&P 500 next day5 days21 days
September 15, 2026 −2.2% −0.9% +1.8% +3.2%
May 12, 2026 −11.9% +0.4% −1.0% −11.1%
February 10, 2026 +2.4% −0.3% +9.7% +15.5%
November 12, 2025 −5.4% −1.6% −15.9% −10.9%
September 16, 2025 +3.8% −0.3% −4.9% −8.6%
May 13, 2025 +4.1% +0.8% +0.5% +19.6%
February 11, 2025 −2.4% −0.2% −2.8% −6.3%
November 12, 2024 +3.2% −0.3% +6.3% +2.0%
September 10, 2024 +14.9% +1.5% +22.2% +20.9%
May 7, 2024 +1.8% +0.1% −1.1% −3.1%
February 6, 2024 +2.5% +1.1% +2.7% +13.2%
November 7, 2023 −7.0% +0.4% −4.6% −3.7%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Evolution Petroleum Corp’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: fundamentals grade D (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: the shares trade below our fair value: a collar caps upside the model expects.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Evolution Petroleum Corp in five measures

Fundamentals grade D
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Evolution Petroleum Corp
$80M $90M $100M $110M FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 Revenue (TTM), FY24 Q1: $109.3M Revenue (TTM), FY24 Q2: $96.7M Revenue (TTM), FY24 Q3: $82.8M Revenue (TTM), FY24 Q4: $85.9M Revenue (TTM), FY25 Q1: $87.2M Revenue (TTM), FY25 Q2: $86.4M Revenue (TTM), FY25 Q3: $86M Revenue (TTM), FY25 Q4: $85.8M Revenue (TTM), FY26 Q1: $85.2M Revenue (TTM), FY26 Q2: $85.6M Revenue (TTM), FY26 Q3: $83.2M Revenue (TTM), FY26 Q4: $86.3M $86.3M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY24 Q1 $109.3M
FY24 Q2 $96.7M
FY24 Q3 $82.8M
FY24 Q4 $85.9M
FY25 Q1 $87.2M
FY25 Q2 $86.4M
FY25 Q3 $86M
FY25 Q4 $85.8M
FY26 Q1 $85.2M
FY26 Q2 $85.6M
FY26 Q3 $83.2M
FY26 Q4 $86.3M
Revenue growth, TTM YoY Evolution Petroleum Corp
-60% -40% -20% 0% 20% FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 Revenue growth, TTM YoY, FY24 Q1: -15.8% Revenue growth, TTM YoY, FY24 Q2: -31.5% Revenue growth, TTM YoY, FY24 Q3: -45.6% Revenue growth, TTM YoY, FY24 Q4: -33.2% Revenue growth, TTM YoY, FY25 Q1: -20.3% Revenue growth, TTM YoY, FY25 Q2: -10.6% Revenue growth, TTM YoY, FY25 Q3: 3.8% Revenue growth, TTM YoY, FY25 Q4: -0.0% Revenue growth, TTM YoY, FY26 Q1: -2.2% Revenue growth, TTM YoY, FY26 Q2: -0.9% Revenue growth, TTM YoY, FY26 Q3: -3.2% Revenue growth, TTM YoY, FY26 Q4: 0.6% 0.6%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q1 -15.8%
FY24 Q2 -31.5%
FY24 Q3 -45.6%
FY24 Q4 -33.2%
FY25 Q1 -20.3%
FY25 Q2 -10.6%
FY25 Q3 3.8%
FY25 Q4 -0.0%
FY26 Q1 -2.2%
FY26 Q2 -0.9%
FY26 Q3 -3.2%
FY26 Q4 0.6%
Operating margin (TTM) Evolution Petroleum Corp
0% 10% 20% 30% FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 Operating margin (TTM), FY24 Q1: 29.6% Operating margin (TTM), FY24 Q2: 22.1% Operating margin (TTM), FY24 Q3: 7.0% Operating margin (TTM), FY24 Q4: 9.2% Operating margin (TTM), FY25 Q1: 9.1% Operating margin (TTM), FY25 Q2: 6.6% Operating margin (TTM), FY25 Q3: 6.1% Operating margin (TTM), FY25 Q4: 4.9% Operating margin (TTM), FY26 Q1: 2.6% Operating margin (TTM), FY26 Q2: 4.1% Operating margin (TTM), FY26 Q3: 1.6% Operating margin (TTM), FY26 Q4: 4.0% 4.0%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY24 Q1 29.6%
FY24 Q2 22.1%
FY24 Q3 7.0%
FY24 Q4 9.2%
FY25 Q1 9.1%
FY25 Q2 6.6%
FY25 Q3 6.1%
FY25 Q4 4.9%
FY26 Q1 2.6%
FY26 Q2 4.1%
FY26 Q3 1.6%
FY26 Q4 4.0%
FCF margin (TTM) Evolution Petroleum Corp
-20% 0% 20% 40% 60% FY20 Q1 FY20 Q4 FY25 Q3 FY26 Q4 FCF margin (TTM), FY20 Q1: 59.9% FCF margin (TTM), FY20 Q2: 22.8% FCF margin (TTM), FY20 Q3: 23.5% FCF margin (TTM), FY20 Q4: 10.3% FCF margin (TTM), FY23 Q3: 31.5% FCF margin (TTM), FY23 Q4: 39.9% FCF margin (TTM), FY25 Q3: 41.0% FCF margin (TTM), FY25 Q4: 28.0% FCF margin (TTM), FY26 Q1: 8.9% FCF margin (TTM), FY26 Q2: 6.6% FCF margin (TTM), FY26 Q3: -3.4% FCF margin (TTM), FY26 Q4: 0.6% 0.6%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY20 Q1 59.9%
FY20 Q2 22.8%
FY20 Q3 23.5%
FY20 Q4 10.3%
FY23 Q3 31.5%
FY23 Q4 39.9%
FY25 Q3 41.0%
FY25 Q4 28.0%
FY26 Q1 8.9%
FY26 Q2 6.6%
FY26 Q3 -3.4%
FY26 Q4 0.6%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2010 Jun 2010 2011 Jun 2011 2012 Jun 2012 2013 Jun 2013 2014 Jun 2014 2015 Jun 2015 2016 Jun 2016 2017 Jun 2017 2018 Jun 2018 2019 Jun 2019 2020 Jun 2020 2021 Jun 2021 2022 Jun 2022 2023 Jun 2023 2024 Jun 2024 2025 Jun 2025 2026 Jun 2026
Income
Revenue 5 8 18 21 18 28 26 34 41 43 30 33 109 129 86 86 86
Gross profit — — — — — — — — — — — 16 60 69 38 37 36
EBITDA −2 1 10 12 7 12 7 19 22 24 9 −16 53 59 28 26 26
Operating income −4 0 9 11 6 9 2 13 16 18 4 −21 45 45 8 4 3
Net income −2 −0 5 7 4 5 25 8 20 15 6 −16 33 35 4 1 −2
Diluted EPS −$0.09 −$0.01 $0.14 $0.19 $0.09 $0.13 $0.73 $0.21 $0.59 $0.46 $0.18 −$0.50 $0.96 $1.04 $0.12 $0.03 −$0.08
Growth (year on year)
Revenue — +50.0% +138.5% +18.9% −17.2% +57.5% −5.4% +30.9% +18.2% +6.0% −31.5% +10.5% +233.1% +18.0% −33.2% −0.0% +0.6%
EBITDA — — +>999% +20.4% −43.7% +80.5% −44.0% +172.3% +20.0% +7.1% −60.4% −264.8% — +11.1% −52.9% −6.4% +0.4%
Operating income — — +>999% +21.2% −48.3% +55.3% −80.6% +673.5% +25.9% +8.8% −79.1% −662.3% — −0.6% −82.5% −47.2% −16.6%
Net income — — — +29.2% −45.7% +38.8% +394.0% −67.4% +143.9% −21.6% −61.4% −376.9% — +7.9% −88.4% −63.9% —
Diluted EPS — — — +35.7% −52.6% +44.4% +461.5% −71.2% +181.0% −22.0% −60.9% −377.8% — +8.3% −88.5% −75.0% —
Margins
Gross margin — — — — — — — — — — — 49.3% 55.3% 53.7% 43.8% 42.5% 41.7%
EBITDA margin −35.8% 10.0% 55.5% 56.2% 38.2% 43.8% 25.9% 53.9% 54.7% 55.3% 31.9% −47.6% 49.1% 46.2% 32.6% 30.5% 30.4%
Operating margin −72.0% 2.6% 49.2% 50.1% 31.3% 30.8% 6.3% 37.4% 39.8% 40.8% 12.5% −63.4% 41.7% 35.1% 9.2% 4.9% 4.0%
Net margin −47.5% −3.2% 28.6% 31.0% 20.4% 17.9% 93.6% 23.3% 48.1% 35.6% 20.1% −50.3% 30.0% 27.4% 4.8% 1.7% −2.8%
Free-cash-flow margin — 40.6% 57.4% 55.9% 44.1% 36.2% 116.3% 47.7% 50.3% 55.7% 10.3% −41.5% −0.8% 39.9% −18.6% 28.0% 0.6%
Cash flow
Cash from operations 2 3 10 12 8 10 31 16 21 24 12 5 52 51 23 33 24
Capital spending — 0 0 0 0 0 0 0 0 0 9 18 53 0 39 9 23
Free cash flow — 3 10 12 8 10 31 16 21 24 3 −14 −1 51 −16 24 1
Stock-based pay 2 2 1 2 1 1 2 1 1 1 1 1 0 2 2 2 2
Free cash flow after stock pay — 2 9 10 6 9 29 15 19 23 2 −15 −1 50 −18 22 −2
Balance sheet
Cash 3 4 14 25 24 20 34 23 25 32 20 5 8 11 6 3 6
Total debt 0 0 0 0 0 0 0 0 0 0 0 4 21 — 40 38 57
Net debt (negative = net cash) −3 −4 −14 −25 −24 −20 −34 −23 −25 −32 −20 −1 13 −11 33 35 50
Diluted shares 27m 27m 32m 32m 33m 33m 33m 33m 33m 33m 33m 33m 33m 33m 33m 33m 34m
Returned to shareholders
Dividends — — 0 0 10 10 7 8 12 13 11 4 12 16 16 16 17
Buybacks — — — — — — 1 0 1 0 2 0 0 4 1 0 0
Total returned — — 0 0 10 10 8 9 12 13 13 4 12 20 17 17 17

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

0 of 3 checks passed · June 30, 2026
What it owns · $169m
Short-term assets $21mLonger-term assets $148m
What it owes, and who funded it · $169m
Short-term liabilities $22mLonger-term liabilities $86mShareholders' equity $60m
  • Short-term assets cover short-term liabilities $21m of assets due within a year against $22m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $21m short-term assets against $86m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Operating income of $3m against $4m of interest.

From Evolution Petroleum Corp's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q4 TTM
Buybacks (TTM)
$225,000
Dividends (TTM)
$16.9M
Returned to shareholders
3239%
of free cash flow
Buybacks, last 3 fiscal years
$1.8M
Diluted share count
+2.8%
year over year
Total shareholder yield
13.2%
dividends 13.1% + buybacks 0.2% of market value
Days sales outstanding
43 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in oil & gas exploration & production
Last 12 months unless stated EPM EPSN KGEI BATL PNRG SD Median
Revenue, last 12 months $86m $68m $57m $163m $179m $180m $1.4bn
Revenue growth, last 12 months 0.6% 53.7% −2.1% −12.0% −19.4% 23.2% 10.6%
Revenue growth, 3-year average −12.4% 8.9% — −18.0% 5.1% −4.0% 1.4%
Revenue growth, latest quarter 14.7% 57.1% — 12.4% 1.2% 48.0% 31.5%
Gross margin 41.7% — — — 96.8% 98.2% 75.2%
Operating margin 4.0% 1.0% — −3.2% 26.6% 41.1% 21.1%
Operating margin, 3-year average 6.0% 12.6% — −1.6% 20.4% 36.3% 16.5%
Net margin −2.8% −5.2% 27.0% −24.5% 13.9% 46.1% 10.1%
Cash from operations / revenue 27.2% 38.5% 72.3% 16.6% 55.0% 66.2% 42.4%
Free-cash-flow margin 0.6% — −36.8% −2.7% 27.3% 23.6% 19.3%
Free-cash-flow margin, 3-year average 13.0% — — −49.3% 9.9% 37.2% 19.1%
Stock pay / revenue 2.7% 3.1% 3.0% −0.1% — 1.6% 1.5%
Change in share count 2.8% 23.2% 0.4% 45.1% −3.0% −0.2% 0.4%

Median of all 57 companies we cover in oil & gas exploration & production. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

57 oil & gas exploration & production companies
Measure Company Peer median Rank
Revenue growth Growth 0.6% 10.6% 37 of 57
Change in growth rate Growth +3.7pp +4.9pp 34 of 57
Gross margin Profitability 41.7% 83.5% 12 of 12
Operating margin Profitability 4.0% 19.9% 30 of 42
Net margin Profitability -2.8% 10.1% 39 of 57
Free-cash-flow margin Cash generation 0.6% 23.2% 41 of 51
Stock pay as % of revenue Cash generation 2.7% 1.2% 38 of 47
Change in share count Balance sheet 2.8% 0.4% 33 of 48
Days sales outstanding Balance sheet 43 days 41 days 24 of 42

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to June 30, 2026
Products and services
Line of business Revenue Share YoY
Crude Oil $50.6M 58.6% ▼ 1.1%
Natural Gas Reserves $25M 29.0% ▲ 6.5%
Natural Gas Liquids Reserves $10.7M 12.4% ▼ 4.2%

From Evolution Petroleum Corp's 10-K filed September 16, 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.

Who owns it

Funds buying and selling
Reported value
$66.4M
Institutions reporting
117
Shares held vs prior quarter
▲ 1.0%
Positions opened / closed
18 / 18

Top buyers and sellers, Q2 2026: 65 institutions bought and 49 sold ; the biggest buyer was AQR Capital Management LLC (+342K shares) and the biggest seller Citadel Advisors LLC (−277K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $8.9M 2.4M 13.4% ▲ 2.2%
Wealthtrust Axiom LLC $8.1M 2.2M 12.3% ▲ 3.6%
Dimensional Fund Advisors LP $5.5M 1.5M 8.2% ▲ 2.4%
Vanguard Capital Management LLC $4.7M 1.3M 7.1% ▲ 2.0%
American Century Companies Inc $4M 1.1M 6.0% ▼ 0.9%
Renaissance Technologies LLC $3.8M 1.0M 5.7% ▲ 8.1%
Raymond James Financial Inc $3.7M 996K 5.5% ▼ 3.2%
Geode Capital Management, LLC $3.3M 886K 4.9% ▲ 13.8%
Cwa Asset Management Group, LLC $3M 806K 4.5% ▲ 13.6%
State Street Corp $2.5M 692K 3.8% ▼ 0.1%
Morgan Stanley $2.3M 638K 3.5% ▼ 2.1%
North Star Investment Management Corp. $1.6M 431K 2.4% 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 Evolution Petroleum Corp's complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $0 net buying

No open-market insider trades reported in the last 12 months.

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.

Earnings dates and SEC filings

Results announcements

Next expected around December 15, 2026 estimated from the company's past filing pattern, not announced

  • September 15, 2026
  • May 12, 2026
  • February 10, 2026
  • November 12, 2025
  • September 16, 2025
  • May 13, 2025

Recent SEC filings

Data status

When each part of this page on Evolution Petroleum Corp was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Evolution Petroleum Corp in brief

What does Evolution Petroleum Corp do?
Evolution Petroleum Corp is a US-listed company in the oil & gas exploration & production industry. Its financial year ends in June.
What is Evolution Petroleum Corp's stock ticker?
Evolution Petroleum Corp trades under the ticker EPM on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Evolution Petroleum Corp's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Evolution Petroleum Corp reported revenue of $86.3M, 0.6% higher than a year earlier, according to its SEC filings.
What is Evolution Petroleum Corp's free cash flow?
Evolution Petroleum Corp's free-cash-flow margin is 0.6% of revenue over the trailing twelve months, ranking 41 of the 51 oil & gas exploration & production companies we cover.
What is Evolution Petroleum Corp's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Evolution Petroleum Corp's free cash flow after stock-based pay gives ~$4.9 per share in the base case, and ~$3.4–$7.1 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Evolution Petroleum Corp's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Wealthtrust Axiom LLC and Dimensional Fund Advisors LP. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Evolution Petroleum Corp buying back stock, and does it pay a dividend?
Evolution Petroleum Corp spent $225,000 on share repurchases over the trailing twelve months, and its diluted share count still rose 2.8% over the year.
What is Evolution Petroleum Corp's market cap?
On June 30, 2026, Evolution Petroleum Corp's market capitalisation was about $122M and net debt of $50.4M. Market figures come from third-party market data and may be delayed.
Does Evolution Petroleum Corp pay a dividend?
Yes: Evolution Petroleum Corp paid $16.9M in dividends over the trailing twelve months, a dividend yield of 13.06%.
Who are Evolution Petroleum Corp's competitors?
In our Oil & Gas Exploration & Production peer group, the companies closest to Evolution Petroleum Corp are Epsilon Energy Ltd., Kolibri Global Energy Inc., Battalion OIL Corp, Primeenergy Resources Corp and Sandridge Energy Inc. The side-by-side comparison below sets their revenue, margins and growth against Evolution Petroleum Corp's.
When is Evolution Petroleum Corp's next earnings date?
Around November 10, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Evolution Petroleum Corp announces its own schedule.