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Kosmos Energy Ltd. (KOS) stock

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NYSE: KOS NYSE Oil & Gas Exploration & Production Next results ~February 1, 2027

D Fundamentals grade

Kosmos Energy Ltd. is a US-listed company in the oil & gas exploration & production industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$12

Cash-flow model

Base case. Range ~$7.7–$17 across our lower- and higher-growth cases (3.1%–13.1% a year).

Price vs value

No Buy/Hold/Sell rating is issued: only 2 valuation models apply; a rating needs 3.

Kosmos Energy Ltd. 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.

  • Insiders4 buying, 7 selling4 purchases and 15 sales by directors and officers, last 12 monthsInsider trades
  • Funds167 adding, 104 cuttingOf 48 active managers that changed their stake, 23 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Kosmos Energy files

10-Q filed November 2: Kosmos Energy

Model value +38.8%

Kosmos Energy's revenue for the twelve months to September 2026 reached $1.68bn, a 20.9% increase on the year before and well ahead of the 6.4% pace recorded a quarter earlier. Profitability has also improved: free-cash-flow margin climbed to 28.6%, up from 19.7% a year ago. Less encouraging is the share count, which has grown 15.1% year on year, diluting existing holders. Taken together, these shifts lift the fundamentals grade from E to D. Our model value has risen accordingly, from $8.42 to $11.69 a share. That figure sits far above the current share price of $2.47, a gap worth noting given the broader improvement in revenue growth and cash generation.

Source: 10-Q filed November 2, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (1)

Where Kosmos Energy stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $1.58bn, up 6.4% on a year earlier, against a decline of 11.5% a quarter earlier. Free-cash-flow margin fell to 18.3% from 20.7% a year earlier. The diluted share count is up 8.9% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades E. It passes 1 of our 5 financial-health checks. Our cash-flow model value is $8.42 a share, against a share price of $2.88.

10-Q on SEC EDGAR

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 ~February 1, 2027 (estimated)

Kosmos Energy Ltd.'s trailing-twelve-month revenue grew 20.9% year on year, with a free-cash-flow margin of 28.6%. Where it stands out: change in growth rate of +14.5pp ranks 10 of 57 oil & gas exploration & production companies we cover. Where it lags: long-term debt as % of assets of 58.5% ranks 43 of 43 oil & gas exploration & production companies we cover.

Our discounted-cash-flow model values the business at ~$12 per share in the base case (~$7.7–$17 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 75.2% while net income fell 40.0%: a 115pp divergence.

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

  • Fast growth. Revenue grew 20.9% over the last 12 months, against a median of 10.6% for oil & gas exploration & production companies we cover.
  • Growth speeding up. The growth rate is 14.5 points higher than a quarter earlier.
  • Strong cash generation. 28.6% of revenue turned into free cash flow, against a median of 23.2% for oil & gas exploration & production companies we cover.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 33.2% over 90 days.

Things to watch

  • Share dilution. Diluted shares rose 15.1% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 88% and a beta of -1.0 against the S&P 500.
  • Below peers: long-term debt as % of assets. Long-term debt as % of assets of 58.5% ranks 43 of 43 oil & gas exploration & production companies we cover (median 17.6%).
  • Below peers: net margin. Net margin of -27.4% ranks 50 of 57 oil & gas exploration & production companies we cover (median 10.1%).
  • Short interest rising. Shares sold short rose 21% in a month to 5.8% of tradable shares.
  • Missing expectations. Earnings per share fell short of the consensus estimate in 3 of the last four quarters.

Latest results: FY2026 Q3

Filed November 2, 2026
Earnings per share
$0.06 against an average estimate of $0.14: missed by 55.9%
Revenue
$410m, up 31.9% on a year earlier
Guidance given
capital Expenditure $75m to $100m (3Q 2026); full year 2026 capital expenditure guidance $350m (Full year 2026)
Next report
November 2, 2026; average EPS estimate $0.14

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

Price chart

  • 1 day-13.3%
  • 1 week-13.3%
  • 1 month-1.6%
  • This year+171.4%
  • 1 year+57.3%
  • 5 years-33.4%
  • S&P 500 this year+11.2%

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

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$1.7B
Net margin
-27.4%
EPS (TTM, diluted)
$-0.84

Growth

Revenue growth
+20.9%
Change in growth rate
+14.5 pts
Share count change
+15.1%

Cash

Free cash flow (TTM)
$481M
FCF margin
28.6%
Stock pay % of revenue
1.5%

Earnings

Last results
November 2, 2026
Next results (est.)
February 1, 2027

News & updates

Updated November 2, 2026

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

  1. Announcement
  2. Results
  3. Agreement
  4. Our research
  5. Our research
  6. Announcement
  7. Leadership
  8. Announcement
  9. Announcement
  10. Results
  11. Guidance
  12. Announcement

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

Kosmos Energy Ltd. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: only 2 valuation models apply; a rating needs 3.

Our value per share comes from a discounted-cash-flow model of Kosmos Energy Ltd.'s free cash flow after stock-based pay ( $449M, FY2026 Q3 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 Kosmos Energy Ltd. 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 0.64 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: no standardised measure of proved reserves in the company's tagged filings
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. ~$12 ~$7.7–$17 Included
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$3.2 ~$2.6–$5.1 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$0.5 ~$0.3–$0.8 Left out: out of range vs price (0.19x)
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$0.2 ~$0.1–$0.2 Left out: out of range vs price (0.07x)
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. ~$7.5 ~$3.2–$12 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Kosmos Energy Ltd. 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 lower ▼ −27%
  • Revenue growth 5 points higher ▲ +34%
  • Free-cash-flow margin 1 point lower ▼ −4%
  • Last year's free-cash-flow margin change, if it persists ▲ +54%
  • Discount rate 1 point higher ▼ −18%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $7$11$16$22$31$43
8.5% $4$7$11$15$22$30
10% $3$5$8$11$16$22

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$4.96$6.69$6.54$3.89$5.60$2.35$3.46$6.36$6.71$3.42$0.91$2.47
Market value$1.9bn$2.6bn$2.5bn$1.6bn$2.2bn$952m$1.4bn$3.0bn$3.2bn$1.6bn$435m$1.3bn
+ Net debt (− = net cash)$650m$1.2bn$1.1bn$2.0bn$1.8bn$2.0bn$2.5bn$2.1bn$2.3bn$2.7bn$3.0bn$2.5bn
Enterprise value$2.5bn$3.8bn$3.6bn$3.6bn$4.1bn$3.0bn$4.0bn$5.1bn$5.6bn$4.3bn$3.4bn$3.9bn
Multiples
Price / sales 4.0x8.3x4.4x1.8x1.5x1.2x1.1x1.3x1.9x1.0x0.3x0.8x
Price / earnings ———————13.3x15.1x8.6x——
Price / free cash flow ——14.2x—12.0x——5.8x4.2x2.4x3.2x2.8x
EV / EBITDA ————————————

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

36 /100

Weak moat

How hard Kosmos Energy'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 0 / 20

    Net income has been a median -4.7% of total assets over 10 years.

  • Durability 10 / 20

    Net margin has been a median -20.0%; its worst year was -52.0%.

  • Cash conversion 10 / 20

    Free cash flow was positive in 7 of 10 years, at a median 5.2% of revenue.

  • Discipline 9 / 20

    The diluted share count rose 34.1% over five years; stock-based pay has been a median 2.5% 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

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $0.30 +141% $1.8bn +37%
Next $0.43 +45% $1.7bn −6%

Next year's EPS estimate has moved +33.2% in 90 days, across 4 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +69.8% on 90 days ago. In the last 30 days, 0 analysts raised Kosmos Energy Ltd.'s forecast and 0 cut it.

Consensus EPS forecast Kosmos Energy Ltd., last 90 days
$0.10 $0.20 $0.30 $0.40 $0.50 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $0.18 Current fiscal year, 60 days ago: $0.20 Current fiscal year, 30 days ago: $0.27 Current fiscal year, 7 days ago: $0.27 Current fiscal year, Now: $0.30 $0.30 Next fiscal year, 90 days ago: $0.33 Next fiscal year, 60 days ago: $0.26 Next fiscal year, 30 days ago: $0.32 Next fiscal year, 7 days ago: $0.47 Next fiscal year, Now: $0.43 $0.43

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

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $0.18$0.33
60 days ago $0.20$0.26
30 days ago $0.27$0.32
7 days ago $0.27$0.47
Now $0.30$0.43

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $0.14 $0.06 −55.9%
Jun 2026 $0.09 $0.11 +27.9%
Mar 2026 $0.02 −$0.07 −450.0%
Dec 2025 −$0.09 −$0.16 −74.5%

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

Management guidance

Earnings release, August 3, 2026
  • Full year 2026 capital expenditure guidance Full year 2026 about $350m Maintained
    “Full year 2026 capital expenditure guidance of $350 million is unchanged.” source
  • Production FY 2026 69,000 to 74,000
    “Production(1,2,3) 68,000 - 72,000 boe per day 69,000 - 74,000 boe per day” source
  • Opex per boe FY 2026 19 to 21
    “Opex $18.00 - $20.00 per boe $19.00 - $21.00 per boe” source
  • DD&A per boe FY 2026 16 to 18
    “DD&A $15.50 - $17.50 per boe $16.00 - $18.00 per boe” source
  • G&A FY 2026 about $75m
    “G&A(~65% cash) $15-$20 million ~$75 million” source
  • Exploration Expense FY 2026 about $20m
    “Exploration Expense(4) ~$5 million ~$20 million” source
Show 17 more items
  • Net Interest Expense FY 2026 $220m to $240m
    “Net Interest Expense $55 - $60 million $220 - $240 million” source
  • Tax per boe FY 2026 7 to 9
    “Tax $7.00 - $10.00 per boe $7.00 - $9.00 per boe” source
  • Gulf of America Production FY 2026 14,000 to 16,000
    “FY 2026: 14,000-16,000 boe per day.” source
  • Ghana net cargo forecast FY 2026 12 to 13
    “FY 2026 Ghana: 12-13 cargos.” source
  • Full year gross LNG cargos · Mauritania and Senegal Full year 32 to 36 Maintained
    “Full year guidance of 32-36 gross LNG cargos remains unchanged.” source
  • Capital Expenditure 3Q 2026 $75m to $100m
    “Capital Expenditure $75 - $100 million ~$350 million” source
  • Production 3Q 2026 68,000 to 72,000
    “Production(1,2,3) 68,000 - 72,000 boe per day 69,000 - 74,000 boe per day” source
  • Opex per boe 3Q 2026 18 to 20
    “Opex $18.00 - $20.00 per boe $19.00 - $21.00 per boe” source
  • DD&A per boe 3Q 2026 15.5 to 17.5
    “DD&A $15.50 - $17.50 per boe $16.00 - $18.00 per boe” source
  • G&A 3Q 2026 $15m to $20m
    “G&A(~65% cash) $15-$20 million ~$75 million” source
  • Exploration Expense 3Q 2026 about $5m
    “Exploration Expense(4) ~$5 million ~$20 million” source
  • Net Interest Expense 3Q 2026 $55m to $60m
    “Net Interest Expense $55 - $60 million $220 - $240 million” source
  • Tax per boe 3Q 2026 7 to 10
    “Tax $7.00 - $10.00 per boe $7.00 - $9.00 per boe” source
  • Gulf of America Production 3Q 2026 13,000 to 15,000
    “Gulf of America Production: 3Q 2026 forecast 13,000 - 15,000 boe per day.” source
  • Ghana net cargo forecast 3Q 2026 about 2.75
    “3Q 2026 net cargo forecast - Ghana: 2.75 cargos.” source
  • Mauritania & Senegal gross cargo forecast · Mauritania and Senegal 3Q 2026 about 8
    “3Q 2026 gross cargo forecast - Mauritania & Senegal: 8 cargos.” source
  • Net condensate cargos · Mauritania and Senegal 3Q26 about 0.4
    “Kosmos expects 0.4 net condensate cargos in 3Q26” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Kosmos Energy Ltd.'s revenue by +3.5% next year and +4.4% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+0.7%, weight 62%) and the company's own record (+8.1%, weight 38%) . How the weights are set.

Analyst recommendations

13 analysts, Nov 2026
Buy538%
Hold538%
Sell323%

Monthly trend

  1. Nov 20261452113
  2. Oct 20261452113
  3. Sep 20261542113
  4. Aug 20261542113

Counts of recommendations published by analysts covering Kosmos Energy Ltd., 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
5.8%
of tradable shares
Days to cover
2.66
at average volume
Short interest, 1 month
+21%
to October 15, 2026
Held by institutions
77%
of shares
Held by insiders
2.3%
of shares
Employees
216
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 +57.3%

$1.57 on October 31, 2025 to $2.47

ThenNowEffect
Revenue (last 12 months) $1.5bn $1.6bn +6.4%
P/S multiple 0.5x 0.8x +61.0%
Share count 475m 517m −8.2%

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

Last 3 years −67.3%

$7.56 on November 3, 2023 to $2.47

ThenNowEffect
Revenue (last 12 months) $1.6bn $1.6bn −3.1%
P/S multiple 2.2x 0.8x −63.6%
Share count 478m 517m −7.5%

Biggest factor: p/s multiple. 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
KOS+47%+84%+6%−49%−73%+171%
Industry peers (median)+88%+54%−8%+2%−15%+17%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
KOS58%67%42%25%25%64%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
KOS−53%−44%−37%−61%−78%−38%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 94% from October 3, 2018 to March 19, 2020. Getting back needed a 1649% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$0.87 – $3.27
From 52-week high
−24.5%
vs 50-day average
−10.2%
vs 200-day average
−2.2%
Volatility (1 year)
88%
Beta vs S&P 500
-0.99

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
2 up, 9 down
typical move ±5.4%
After a week
5 up, 6 down
typical move ±7.0%
After a month
3 up, 8 down
typical move ±10.4%
Results releasedNext dayS&P 500 next day5 days21 days
August 3, 2026 −10.0% +3.3% −6.7% +9.7%
May 5, 2026 −11.6% +2.2% −5.2% −7.6%
November 3, 2025 −5.7% −1.0% −3.8% −30.6%
August 4, 2025 −5.6% +1.0% −12.8% −13.8%
May 6, 2025 −4.4% −0.4% +30.2% +10.7%
November 4, 2024 +0.8% +1.0% +3.8% −0.3%
August 5, 2024 −6.3% −2.0% −0.2% −10.8%
May 7, 2024 +2.4% +0.1% +3.9% −4.1%
February 26, 2024 0.0% −0.2% +0.8% −5.0%
November 6, 2023 −11.4% +0.5% −8.3% −19.4%
August 7, 2023 −0.8% +0.4% +0.8% +2.6%

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.

Kosmos Energy Ltd. in five measures

Fundamentals grade D
Growth Profitability Cash Balance sheet

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) Kosmos Energy Ltd.
$1.2B $1.4B $1.6B $1.8B $2B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $1.7B Revenue (TTM), FY24 Q1: $1.7B Revenue (TTM), FY24 Q2: $1.9B Revenue (TTM), FY24 Q3: $1.8B Revenue (TTM), FY24 Q4: $1.7B Revenue (TTM), FY25 Q1: $1.5B Revenue (TTM), FY25 Q2: $1.5B Revenue (TTM), FY25 Q3: $1.4B Revenue (TTM), FY25 Q4: $1.3B Revenue (TTM), FY26 Q1: $1.4B Revenue (TTM), FY26 Q2: $1.6B Revenue (TTM), FY26 Q3: $1.7B $1.7B

Source: SEC EDGAR filings. Retrieved November 2, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $1.7B
FY24 Q1 $1.7B
FY24 Q2 $1.9B
FY24 Q3 $1.8B
FY24 Q4 $1.7B
FY25 Q1 $1.5B
FY25 Q2 $1.5B
FY25 Q3 $1.4B
FY25 Q4 $1.3B
FY26 Q1 $1.4B
FY26 Q2 $1.6B
FY26 Q3 $1.7B
Revenue growth, TTM YoY Kosmos Energy Ltd.
-40% -20% 0% 20% 40% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: -24.2% Revenue growth, TTM YoY, FY24 Q1: -12.8% Revenue growth, TTM YoY, FY24 Q2: 16.6% Revenue growth, TTM YoY, FY24 Q3: 4.8% Revenue growth, TTM YoY, FY24 Q4: -1.5% Revenue growth, TTM YoY, FY25 Q1: -10.4% Revenue growth, TTM YoY, FY25 Q2: -21.8% Revenue growth, TTM YoY, FY25 Q3: -22.1% Revenue growth, TTM YoY, FY25 Q4: -23.1% Revenue growth, TTM YoY, FY26 Q1: -11.5% Revenue growth, TTM YoY, FY26 Q2: 6.4% Revenue growth, TTM YoY, FY26 Q3: 20.9% 20.9%

Source: SEC EDGAR filings. Retrieved November 2, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 -24.2%
FY24 Q1 -12.8%
FY24 Q2 16.6%
FY24 Q3 4.8%
FY24 Q4 -1.5%
FY25 Q1 -10.4%
FY25 Q2 -21.8%
FY25 Q3 -22.1%
FY25 Q4 -23.1%
FY26 Q1 -11.5%
FY26 Q2 6.4%
FY26 Q3 20.9%
FCF margin (TTM) Kosmos Energy Ltd.
0% 20% 40% 60% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 45.0% FCF margin (TTM), FY24 Q1: 43.0% FCF margin (TTM), FY24 Q2: 47.4% FCF margin (TTM), FY24 Q3: 35.6% FCF margin (TTM), FY24 Q4: 40.5% FCF margin (TTM), FY25 Q1: 26.2% FCF margin (TTM), FY25 Q2: 20.7% FCF margin (TTM), FY25 Q3: 19.7% FCF margin (TTM), FY25 Q4: 10.4% FCF margin (TTM), FY26 Q1: 17.6% FCF margin (TTM), FY26 Q2: 18.3% FCF margin (TTM), FY26 Q3: 28.6% 28.6%

Source: SEC EDGAR filings. Retrieved November 2, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 45.0%
FY24 Q1 43.0%
FY24 Q2 47.4%
FY24 Q3 35.6%
FY24 Q4 40.5%
FY25 Q1 26.2%
FY25 Q2 20.7%
FY25 Q3 19.7%
FY25 Q4 10.4%
FY26 Q1 17.6%
FY26 Q2 18.3%
FY26 Q3 28.6%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q, 10-Q/A. 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 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 10 9 677 671 852 883 472 310 578 887 1,499 804 1,332 2,245 1,702 1,675 1,288 1,683
Net income −80 −323 −2 −67 −91 279 −70 −284 −223 −94 −56 −412 −78 227 214 190 −700 −461
Diluted EPS — — $0.09 −$0.18 −$0.24 $0.72 −$0.18 −$0.74 −$0.57 −$0.23 −$0.14 −$1.02 −$0.19 $0.48 $0.44 $0.40 −$1.47 −$0.84
Growth (year on year)
Revenue — −8.4% +>999% −0.8% +27.0% +3.6% −46.6% −34.2% +86.3% +53.4% +69.1% −46.4% +65.7% +68.6% −24.2% −1.5% −23.1% +20.9%
Net income — — — — — — −125.0% — — — — — — — −5.8% −11.1% −468.6% —
Diluted EPS — — — — — — −125.0% — — — — — — — −8.3% −9.1% −467.5% —
Margins
Net margin −782.2% <−999% −0.3% −10.0% −10.7% 31.6% −14.8% −91.4% −38.5% −10.6% −3.7% −51.2% −5.8% 10.1% 12.5% 11.3% −54.3% −27.4%
Free-cash-flow margin <−999% <−999% −16.8% 0.4% 24.1% 2.2% −81.2% −190.9% 31.0% −14.1% 12.5% −9.7% −41.3% 23.1% 45.0% 40.5% 10.4% 28.6%
Cash flow
Cash from operations −28 −192 365 372 522 444 441 52 237 260 628 196 374 1,130 765 678 134 481
Capital spending 412 445 479 369 317 425 824 645 57 385 441 274 924 612 0 0 0 0
Free cash flow −440 −637 −114 3 205 19 −383 −592 179 −125 187 −78 −550 519 765 678 134 481
Stock-based pay 3 14 51 83 69 80 75 40 40 35 32 33 32 35 43 38 28 25
Free cash flow after stock pay −443 −650 −165 −81 136 −60 −458 −633 139 −160 155 −111 −582 484 722 640 106 456
Balance sheet
Cash 140 100 673 515 598 555 275 194 233 174 225 149 132 183 95 85 92 104
Total debt 0 1,045 1,110 1,000 900 800 925 1,375 1,325 2,175 2,050 2,150 2,675 2,270 2,425 2,800 3,100 2,632
Net debt (negative = net cash) −140 945 437 485 302 245 650 1,181 1,092 2,001 1,825 2,001 2,543 2,087 2,330 2,715 3,009 2,528
Diluted shares — — 369m 372m 377m 386m 383m 385m 388m 405m 401m 405m 417m 475m 481m 477m 478m 546m
Returned to shareholders
Dividends — — — — — — — — 0 0 73 19 1 1 0 0 0 —
Buybacks — — — 8 13 11 18 2 2 206 — — — — — — — —
Total returned — — — 8 13 11 18 2 2 206 73 19 1 1 0 0 0 —

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

1 of 5 checks passed · September 30, 2026
What it owns · $4.3bn
Short-term assets $381mLonger-term assets $3.9bn
What it owes, and who funded it · $1.4bn
Short-term liabilities $711mShareholders' equity $669m
  • Short-term assets cover short-term liabilities $381m of assets due within a year against $711m of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $104m of cash against $2.6bn of debt.
  • Debt below 40% of shareholders' equity Debt is 387% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 445% to 387% over five years.
  • A year's operating cash flow covers at least 20% of debt $481m of operating cash flow against $2.6bn of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Kosmos Energy Ltd.'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

Diluted share count
+15.1%
year over year

Competitors: side by side with peers

Closest by revenue in oil & gas exploration & production
Last 12 months unless stated KOS GPOR MGY NOG TALO MNR Median
Revenue, last 12 months $1.7bn $1.5bn $1.5bn $1.9bn $2.0bn $1.4bn $1.4bn
Revenue growth, last 12 months 20.9% 35.2% 11.4% −25.6% 2.4% 34.4% 10.6%
Revenue growth, 3-year average −0.4% −11.4% 1.4% −4.8% 12.0% 14.8% 1.4%
Revenue growth, latest quarter 31.9% −27.8% 50.1% 5.4% 56.5% 40.7% 31.5%
Gross margin — 76.3% — 74.2% — — 75.2%
Operating margin — 45.0% 38.0% −24.1% −12.7% 14.4% 21.1%
Operating margin, 3-year average — 25.2% 39.2% 17.4% −1.9% 27.5% 16.5%
Net margin −27.4% 32.3% 28.8% −25.4% −20.5% 7.4% 10.1%
Cash from operations / revenue 28.6% 54.4% 70.1% 72.0% 39.9% 41.3% 42.4%
Free-cash-flow margin 28.6% 16.2% 36.9% 75.7% −8.8% 19.3% 19.3%
Free-cash-flow margin, 3-year average 28.0% 17.2% 34.2% 66.7% −5.0% 25.9% 19.1%
Stock pay / revenue 1.5% 0.7% 2.4% 0.8% 1.1% 0.9% 1.5%
Change in share count 15.1% 4.7% −2.5% 0.9% −5.1% 46.5% 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 20.9% 10.6% 15 of 57
Change in growth rate Growth +14.5pp +4.9pp 10 of 57
Net margin Profitability -27.4% 10.1% 50 of 57
Free-cash-flow margin Cash generation 28.6% 23.2% 19 of 51
Stock pay as % of revenue Cash generation 1.5% 1.2% 26 of 47
Long-term debt as % of assets Balance sheet 58.5% 17.6% 43 of 43
Change in share count Balance sheet 15.1% 0.4% 41 of 48

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

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue Share YoY
Ghana $632M 49.0% ▼ 39.5%
Gulf of America $374M 29.1% ▲ 1.1%
Equatorial Guinea $165M 12.8% ▼ 36.7%
Mauritania and Senegal $117M 9.1% —

From Kosmos Energy Ltd.'s 10-K filed March 2, 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
$909M
Institutions reporting
265
Shares held vs prior quarter
▼ 0.7%
Positions opened / closed
48 / 41

Top buyers and sellers, Q2 2026: 167 institutions bought and 104 sold ; the biggest buyer was Blackrock, Inc (+8.6M shares) and the biggest seller Jane Street Group, LLC (−11.6M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $118M 56.0M 13.0% ▲ 18.0%
State Street Corp $62.1M 29.5M 6.8% ▲ 4.3%
Two Sigma Investments, LP $53.6M 25.4M 5.9% ▲ 36.0%
D. E. Shaw & Co., Inc. $51.8M 24.5M 5.7% ▲ 20.4%
Equinox Partners Investment Management LLC $43.6M 20.7M 4.8% 0.0%
Hotchkis & Wiley Capital Management LLC $39.8M 18.8M 4.4% ▼ 6.0%
Geode Capital Management, LLC $36M 17.1M 4.0% ▲ 34.2%
Charles Schwab Investment Management Inc $29.1M 13.8M 3.2% ▼ 2.6%
Vanguard Portfolio Management LLC $25.3M 12.0M 2.8% ▲ 39.2%
Grantham, Mayo, Van Otterloo & Co. LLC $25M 11.9M 2.7% ▼ 35.3%
Invesco Ltd. $23.1M 10.9M 2.5% ▼ 1.8%
Dimensional Fund Advisors LP $20.2M 9.6M 2.2% ▲ 35.3%

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 Kosmos Energy Ltd.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $7M 4 trades by 4 insiders, last 12 months Insider sales History → $1.1M 15 trades by 7 insiders · 68% under pre-set plans
Net ▲ $5.9M net buying
Insider Date Trade Shares Price Value
Glass Ronald W. VP & Chief Accounting Officer July 2, 2026 Sell pre-set plan 12,128 $2.05 $24,862
Marion Josh R. SVP and General Counsel July 2, 2026 Sell pre-set plan 24,969 $2.05 $51,186
Shah Nealesh D. SVP and CFO July 2, 2026 Sell pre-set plan 45,980 $2.05 $94,259
Inglis Andrew G Chairman and CEO July 2, 2026 Sell pre-set plan 85,935 $2.05 $176,167
Franklin Roy A. Director May 28, 2026 Sell 43,466 $2.73 $118,662
Sterin Steven Director May 27, 2026 Sell 38,636 $2.73 $105,476
Grant John Douglas Kelso Director May 27, 2026 Sell 43,466 $2.73 $118,662
Inglis Andrew G Chairman and CEO March 10, 2026 Buy 315,790 $1.90 $600,001
Shah Nealesh D. SVP and CFO March 10, 2026 Buy 157,894 $1.90 $299,999
Stice J Michael Director March 10, 2026 Buy 52,631 $1.90 $99,999
Ogunlesi Adebayo O. Director March 10, 2026 Buy 3,157,895 $1.90 $6M
Inglis Andrew G Chairman and CEO February 4, 2026 Sell pre-set plan 44,628 $1.42 $63,372

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.

Trades by members of Congress

All 2 trades and filings

No trades in Kosmos Energy Ltd. disclosed in the last 12 months; 2 earlier trades on record.

  • Chris Jacobs(R-NY 27):Sale (full), $15,001 - $50,000, traded June 16, 2022, filed July 28, 2022
  • Chris Jacobs(R-NY 27):Purchase, $1,001 - $15,000, traded April 11, 2022, filed May 19, 2022

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around February 1, 2027 estimated from the company's past filing pattern, not announced

  • November 2, 2026
  • August 3, 2026
  • May 5, 2026
  • November 3, 2025
  • August 4, 2025
  • May 6, 2025

Recent SEC filings

Data status

When each part of this page on Kosmos Energy Ltd. 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.

Kosmos Energy Ltd. in brief

What does Kosmos Energy Ltd. do?
Kosmos Energy Ltd. is a US-listed company in the oil & gas exploration & production industry. Its financial year ends in December.
What is Kosmos Energy Ltd.'s stock ticker?
Kosmos Energy Ltd. trades under the ticker KOS on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Kosmos Energy Ltd.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Kosmos Energy Ltd. reported revenue of $1.7B, 20.9% higher than a year earlier, according to its SEC filings.
What is Kosmos Energy Ltd.'s free cash flow?
Kosmos Energy Ltd.'s free-cash-flow margin is 28.6% of revenue over the trailing twelve months, ranking 19 of the 51 oil & gas exploration & production companies we cover.
What is Kosmos Energy Ltd.'s model value per share?
Our discounted-cash-flow model of Kosmos Energy Ltd.'s free cash flow after stock-based pay gives ~$12 per share in the base case, and ~$7.7–$17 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation. No Buy/Hold/Sell rating is issued: only 2 valuation models apply; a rating needs 3.
Who are Kosmos Energy Ltd.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., State Street Corp and Two Sigma Investments, LP. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Kosmos Energy Ltd.'s market cap?
On November 2, 2026, Kosmos Energy Ltd.'s market capitalisation was about $1.3B and net debt of $2.5B. Market figures come from third-party market data and may be delayed.
How much debt does Kosmos Energy Ltd. have?
Kosmos Energy Ltd.'s debt-to-equity ratio is 386.7%, from its latest balance sheet (444.8% five years earlier). The financial health section below sets out its other solvency checks.
Who are Kosmos Energy Ltd.'s competitors?
In our Oil & Gas Exploration & Production peer group, the companies closest to Kosmos Energy Ltd. are Gulfport Energy Corp, Magnolia Oil & Gas Corp, Northern OIL & GAS, Inc., Talos Energy Inc. and Mach Natural Resources LP. The side-by-side comparison below sets their revenue, margins and growth against Kosmos Energy Ltd.'s.
Are insiders buying or selling Kosmos Energy Ltd. stock?
Over the last 12 months, Kosmos Energy Ltd.'s directors and officers reported 4 open-market purchases and 15 sales on Form 4. The insider trading page charts every trade.
When is Kosmos Energy Ltd.'s next earnings date?
Around February 1, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Kosmos Energy Ltd. announces its own schedule.