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Magnolia Oil & Gas Corp (MGY) stock

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NYSE: MGY NYSE Oil & Gas Exploration & Production Next results ~November 4, 2026

B Fundamentals grade

Magnolia Oil & Gas Corp 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

Fair value per share

~$90

Cash-flow model

Base case. Range ~$68–$120 across our lower- and higher-growth cases (1.4%–11.4% a year).

Price vs value

Undervalued

The price is below our entire value range; our base value is 257% above it.

Price used: $25.05, November 2, 2026

Magnolia Oil & Gas 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.

Value diary

Our note on each quarter Magnolia Oil & Gas files

Where Magnolia Oil & Gas stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $1.48bn, up 11.4% on a year earlier, against a decline of 2.0% a quarter earlier. Free-cash-flow margin rose to 36.9% from 29.5% a year earlier. The diluted share count is down 2.5% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades B. It passes 4 of our 5 financial-health checks.

Source: 10-Q filed August 6, 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 4, 2026 (estimated)

Magnolia Oil & Gas Corp's trailing-twelve-month revenue grew 11.4% year on year, with a free-cash-flow margin of 36.9%. Where it stands out: net margin of 28.8% ranks 8 of 57 oil & gas exploration & production companies we cover.

Our discounted-cash-flow model values the business at ~$90 per share in the base case (~$68–$120 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 39.0% while net income grew 16.2%: a 23pp 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

  • Priced below our value. The share price of $25.05 is 263% below our value per share of $91.
  • Growth speeding up. The growth rate is 13.3 points higher than a quarter earlier.
  • High operating margin. 38.0% of revenue is left as operating profit, against a median of 19.9% for oil & gas exploration & production companies we cover.
  • Strong cash generation. 36.9% of revenue turned into free cash flow, against a median of 23.2% for oil & gas exploration & production companies we cover.
  • Shrinking share count. Diluted shares fell 2.5% in a year, so each share owns more of the business.

Things to watch

  • Heavily shorted. 11.9% of the shares available to trade are sold short (6.0 days of average volume to cover).
  • Estimates being cut. Analysts' consensus for next year's earnings per share has fallen 11.5% over 90 days.

Latest results: FY2026 Q2

Filed August 6, 2026
Earnings per share
$0.99 against an average estimate of $0.93: beat by 6.2%
Revenue
$479m, up 50.1% on a year earlier
Share reaction
+2.5% in the first session after the results on October 1, 2026, against +0.9% for the S&P 500
Guidance given
production (Mboe/d) 116 to 118 (third quarter 2026); D&C Capital Spending $155m to $165m (third quarter 2026)
Next report
November 4, 2026; average EPS estimate $0.59

Magnolia Oil & Gas' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-5.5%
  • 1 week-5.3%
  • 1 month+4.1%
  • This year+16.6%
  • 1 year+14.5%
  • 5 years+37.7%
  • 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)
$1.5B
Operating margin
38.0%
Net margin
28.8%
EPS (TTM, diluted)
$2.32

Growth

Revenue growth
+11.4%
Change in growth rate
+13.3 pts
Share count change
−2.5%

Cash

Free cash flow (TTM)
$546M
FCF margin
36.9%
Stock pay % of revenue
2.4%

Earnings

Last results
October 1, 2026
Next results (est.)
December 31, 2026

News & updates

Updated October 31, 2026

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

  1. Results
  2. Guidance
  3. Deal
  4. Agreement
  5. Results
  6. Announcement
  7. Announcement
  8. Announcement
  9. 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

Magnolia Oil & Gas Corp valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03
Buy12-month view
12-month price target
~$91
Price used
$24.84close November 3, 2026
Implied change
▲ +266%
Uncertainty
Low

How we got here: the combined value of 3 valuation models built for a business like Magnolia Oil & Gas Corp (see the models table below and how they are combined) , with a 7.78% cost of equity. The models span ~$74–~$110; 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 Magnolia Oil & Gas Corp's free cash flow after stock-based pay ( $480M, FY2026 Q2 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 Magnolia Oil & Gas 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: 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. ~$90 ~$68–$120 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. ~$23 ~$18–$37 Left out: far from the other models (more than 3x away from their median)
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$110 ~$77–$160 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$74 ~$61–$93 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. ~$91 ~$74–$110 3 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Magnolia Oil & Gas 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 lower ▼ −25%
  • Revenue growth 5 points higher ▲ +32%
  • Free-cash-flow margin 1 point lower ▼ −3%
  • Last year's free-cash-flow margin change, if it persists ▲ +25%
  • Discount rate 1 point higher ▼ −15%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $37$50$68$92$122$162
8.5% $28$38$51$67$89$117
10% $23$30$40$53$70$91

Valuation multiples over time Market data may be delayed

At fiscal year end 2019202020212022202320242025Now
Share price$11.25$6.31$16.96$21.46$19.91$22.33$21.48$25.05
Market value$1.9bn$1.0bn$3.0bn$4.0bn$3.7bn$4.2bn$4.0bn$4.6bn
+ Net debt (− = net cash)$217m$207m$33m−$275m−$1m$140m$133m$104m
Enterprise value$2.1bn$1.3bn$3.0bn$3.8bn$3.7bn$4.3bn$4.1bn$4.7bn
Multiples
Price / sales 2.0x1.9x2.8x2.4x3.1x3.2x3.0x3.1x
Price / earnings 37.4x—7.1x4.5x9.7x11.4x12.3x10.8x
Price / free cash flow 8.4x9.3x5.4x4.9x8.7x9.6x9.7x8.4x
EV / EBITDA 3.2x—3.8x2.9x4.4x4.6x4.7x4.6x

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

80 /100

Strong moat

How hard Magnolia Oil & Gas's competitive advantage looks for rivals to wear away, judged from 8 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Net income has been a median 13.5% of total assets over 8 years.

  • Durability 10 / 20

    Operating margin has been a median 40.9%; its worst year was -260.5%.

  • Cash conversion 20 / 20

    Free cash flow was positive in 7 of 7 years, at a median 36.9% of revenue.

  • Discipline 14 / 20

    The diluted share count rose 8.6% over five years; stock-based pay has been a median 1.4% 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 4, 2026, after the close. Analysts expect revenue of $477m and EPS of $0.59 (range $0.27 to $0.89) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $3.00 +72% $2.1bn +57%
Next $3.15 +5% $2.8bn +35%

Next year's EPS estimate has moved −11.5% in 90 days, across 18 analysts.

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.93 $0.99 +6.2%
Mar 2026 $0.52 $0.54 +3.2%
Dec 2025 $0.36 $0.38 +4.5%
Sept 2025 $0.42 $0.42 +1.3%

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

Management guidance

Earnings release, October 1, 2026
  • Production growth 2027 4% growth to 5% growth
    “2027 production is estimated to grow 4 to 5 percent for both oil and total production off a second quarter 2026 pro forma production base of approximately 78 Mbo/d and 158 Mboe/d after accounting for the production volumes from the non-core asset sale.” source
  • D&C Capital Spending 2027 $900m to $950m
    “D&C capital spending is currently estimated to be in the range of $900 to $950 million during 2027 which incorporates a modest amount of oil field service inflation.” source
  • Production (Mboe/d) third quarter 2026 116 to 118
    “Estimated production for the third quarter 2026 is expected to be 116 to 118 Mboe/d (~42% oil) after factoring in the closing of WildFire and the impact of divested non-core properties.” source
  • D&C Capital Spending third quarter 2026 $155m to $165m
    “D&C capital spending is expected to be in the range of $155 to $165 million during the third quarter reflecting the same considerations.” source
  • Production (Mboe/d) fourth quarter of 2026 159 to 161
    “Production for the fourth quarter of 2026 (the first full quarter pro forma for the acquisition) is expected to be 159 to 161 Mboe/d (49% to 50% oil), reflecting the divested volumes.” source
  • Oil Percent (%) Q4 2026 Guidance 49% to 50%
    “Oil Percent (%) 49% - 50%” source
Show 10 more items
  • D&C Capital Spending the fourth quarter about $235m
    “D&C capital spending is estimated to be approximately $235 million during the fourth quarter.” source
  • One-time transaction and integration-related costs third quarter $65m to $75m
    “Additionally, the Company expects to realize one-time transaction and integration-related costs of approximately $65 to $75 million during the third quarter.” source
  • LOE (per Boe) Q4 2026 Guidance 5.8 to 6.2
    “LOE (per Boe) $5.80 - $6.20” source
  • GP&T (per Boe) Q4 2026 Guidance 1.8 to 2.1
    “GP&T (per Boe) $1.80 - $2.10” source
  • DD&A (per Boe) Q4 2026 Guidance 14 to 15
    “DD&A (per Boe) $14.00 - $15.00” source
  • Production and Ad Valorem Taxes (%) Q4 2026 Guidance 5.5% to 6.5%
    “Production and Ad Valorem Taxes (%) 5.5% - 6.5%” source
  • Interest Expense ($millions) Q4 2026 Guidance $35m to $40m
    “Interest Expense ($millions) $35 - $40” source
  • Effective Tax Rate Q4 2026 Guidance about 21%
    “Effective Tax Rate ~21%” source
  • Cash Tax Rate Q4 2026 Guidance 0% to 2%
    “Cash Tax Rate 0% - 2%” source
  • Pre-Hedge Oil Realization (to MEH) Q4 2026 Guidance about $-2
    “Pre-Hedge Oil Realization (to MEH) $(2.00)” 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 Magnolia Oil & Gas Corp's revenue by +45.7% next year and +16.6% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+63.2%, weight 69%) and the company's own record (+6.4%, weight 31%) . How the weights are set.

Analyst recommendations

20 analysts, Oct 2026
Buy1575%
Hold525%
Sell00%

Monthly trend

  1. Oct 2026312520
  2. Sep 2026212519
  3. Aug 202611618
  4. Jul 202611718

Counts of recommendations published by analysts covering Magnolia Oil & Gas 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
11.9%
of tradable shares
Days to cover
6.01
at average volume
Short interest, 1 month
+13%
to September 30, 2026
Held by institutions
91%
of shares
Held by insiders
14.3%
of shares
Employees
262
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 +14.5%

$21.88 on October 31, 2025 to $25.05

ThenNowEffect
Revenue (last 12 months) $1.3bn $1.5bn +11.4%
Net margin 27.6% 28.8% +4.4%
P/E multiple 11.3x 10.8x −3.9%
Share count 188m 184m +2.5%

Biggest factor: revenue.

Last 3 years +17.9%

$21.25 on November 3, 2023 to $25.05

ThenNowEffect
Revenue (last 12 months) $1.4bn $1.5bn +4.2%
Net margin 46.8% 28.8% −38.5%
P/E multiple 6.1x 10.8x +77.7%
Share count 190m 184m +3.6%

Biggest factor: p/e multiple.

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
MGY+169%+27%−7%+12%−4%+17%
Industry peers (median)+86%+55%−8%+1%−15%+18%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
MGY58%58%50%50%58%55%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
MGY−19%−38%−21%−21%−26%−27%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since June 29, 2017: 78% from October 3, 2018 to March 18, 2020. Getting back needed a 350% gain, reached on June 15, 2021, 454 days after the low.

Price behaviour

52-week range
$20.84 – $31.94
From 52-week high
−21.6%
vs 50-day average
−2.4%
vs 200-day average
−6.8%
Volatility (1 year)
34%
Beta vs S&P 500
-0.60

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
6 up, 6 down
typical move ±2.8%
After a week
5 up, 7 down
typical move ±5.2%
After a month
9 up, 3 down
typical move ±7.7%
Results releasedNext dayS&P 500 next day5 days21 days
October 1, 2026 +2.5% +0.9% +4.2% +12.8%
August 5, 2026 +0.7% −0.4% +8.0% +11.5%
May 6, 2026 −8.8% +1.1% −6.8% −10.3%
February 5, 2026 +2.3% +0.6% −1.0% +10.8%
October 29, 2025 −1.5% −1.1% −5.8% +2.4%
July 30, 2025 −3.2% −0.5% −3.6% +1.6%
April 30, 2025 −1.0% +0.7% −3.0% +1.6%
February 18, 2025 +3.1% +0.5% −0.9% +6.4%
October 30, 2024 −0.1% −2.3% +7.7% +10.2%
July 31, 2024 −4.0% +0.2% −9.8% −2.4%
May 7, 2024 +0.8% +0.1% +2.1% −4.6%
February 14, 2024 +5.7% +1.6% +9.0% +18.1%

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 Magnolia Oil & Gas 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.

Implied vs realised volatility

Options look fairly priced

Implied volatility is within its normal range against realised. Selling options earns the usual premium, nothing extra.

  • Implied is 1.29× the last 60 days’ realised volatility , richer than 73% of the 229 stocks we screen today.
  • Puts and calls are priced at about the same implied volatility.
  • Why: implied is not far enough above realised, or not unusual against our coverage.

Our rule for “rich”: implied at least 1.2× 60-day realised (beyond measurement noise), above 1-year realised (not just a calm spell), and in the top 20% of our coverage that day. Never with results inside the option’s life. These are our conventions, built on research showing option prices usually imply more movement than follows, most when the gap is wide. How we judge this.

Cash-secured put

Not offered: fundamentals grade B (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.

Magnolia Oil & Gas Corp in five measures

Fundamentals grade B
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) Magnolia Oil & Gas Corp
$1.2B $1.3B $1.4B $1.5B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $1.3B Revenue (TTM), FY23 Q4: $1.2B Revenue (TTM), FY24 Q1: $1.2B Revenue (TTM), FY24 Q2: $1.3B Revenue (TTM), FY24 Q3: $1.3B Revenue (TTM), FY24 Q4: $1.3B Revenue (TTM), FY25 Q1: $1.3B Revenue (TTM), FY25 Q2: $1.3B Revenue (TTM), FY25 Q3: $1.3B Revenue (TTM), FY25 Q4: $1.3B Revenue (TTM), FY26 Q1: $1.3B Revenue (TTM), FY26 Q2: $1.5B $1.5B

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $1.3B
FY23 Q4 $1.2B
FY24 Q1 $1.2B
FY24 Q2 $1.3B
FY24 Q3 $1.3B
FY24 Q4 $1.3B
FY25 Q1 $1.3B
FY25 Q2 $1.3B
FY25 Q3 $1.3B
FY25 Q4 $1.3B
FY26 Q1 $1.3B
FY26 Q2 $1.5B
Revenue growth, TTM YoY Magnolia Oil & Gas Corp
-30% -20% -10% 0% 10% 20% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: -25.3% Revenue growth, TTM YoY, FY23 Q4: -27.6% Revenue growth, TTM YoY, FY24 Q1: -23.8% Revenue growth, TTM YoY, FY24 Q2: -8.9% Revenue growth, TTM YoY, FY24 Q3: 4.7% Revenue growth, TTM YoY, FY24 Q4: 7.2% Revenue growth, TTM YoY, FY25 Q1: 8.8% Revenue growth, TTM YoY, FY25 Q2: 2.7% Revenue growth, TTM YoY, FY25 Q3: 0.7% Revenue growth, TTM YoY, FY25 Q4: -0.3% Revenue growth, TTM YoY, FY26 Q1: -2.0% Revenue growth, TTM YoY, FY26 Q2: 11.4% 11.4%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 -25.3%
FY23 Q4 -27.6%
FY24 Q1 -23.8%
FY24 Q2 -8.9%
FY24 Q3 4.7%
FY24 Q4 7.2%
FY25 Q1 8.8%
FY25 Q2 2.7%
FY25 Q3 0.7%
FY25 Q4 -0.3%
FY26 Q1 -2.0%
FY26 Q2 11.4%
Operating margin (TTM) Magnolia Oil & Gas Corp
30% 35% 40% 45% 50% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 47.4% Operating margin (TTM), FY23 Q4: 43.6% Operating margin (TTM), FY24 Q1: 43.0% Operating margin (TTM), FY24 Q2: 42.1% Operating margin (TTM), FY24 Q3: 40.1% Operating margin (TTM), FY24 Q4: 38.9% Operating margin (TTM), FY25 Q1: 38.9% Operating margin (TTM), FY25 Q2: 37.4% Operating margin (TTM), FY25 Q3: 35.5% Operating margin (TTM), FY25 Q4: 33.5% Operating margin (TTM), FY26 Q1: 32.7% Operating margin (TTM), FY26 Q2: 38.0% 38.0%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 47.4%
FY23 Q4 43.6%
FY24 Q1 43.0%
FY24 Q2 42.1%
FY24 Q3 40.1%
FY24 Q4 38.9%
FY25 Q1 38.9%
FY25 Q2 37.4%
FY25 Q3 35.5%
FY25 Q4 33.5%
FY26 Q1 32.7%
FY26 Q2 38.0%
FCF margin (TTM) Magnolia Oil & Gas Corp
25% 30% 35% 40% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 32.2% FCF margin (TTM), FY23 Q4: 35.1% FCF margin (TTM), FY24 Q1: 35.5% FCF margin (TTM), FY24 Q2: 36.2% FCF margin (TTM), FY24 Q3: 38.1% FCF margin (TTM), FY24 Q4: 33.0% FCF margin (TTM), FY25 Q1: 32.5% FCF margin (TTM), FY25 Q2: 29.5% FCF margin (TTM), FY25 Q3: 30.9% FCF margin (TTM), FY25 Q4: 31.2% FCF margin (TTM), FY26 Q1: 29.2% FCF margin (TTM), FY26 Q2: 36.9% 36.9%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 32.2%
FY23 Q4 35.1%
FY24 Q1 35.5%
FY24 Q2 36.2%
FY24 Q3 38.1%
FY24 Q4 33.0%
FY25 Q1 32.5%
FY25 Q2 29.5%
FY25 Q3 30.9%
FY25 Q4 31.2%
FY26 Q1 29.2%
FY26 Q2 36.9%

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.

Where the money goes

FY2025, from the 10-K

Each dollar Magnolia Oil & Gas took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $1.3B
  2. Selling, general and admin $97M · 7.4%
  3. Other operating costs $776M · 59.1%
  4. Operating income $439M · 33.5%
  5. Income tax $80.1M · 6.1%
  6. Interest and other $33.8M · 2.6%
  7. Net income $325M · 24.8%

Shares of revenue. Source: Magnolia Oil & Gas's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

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

Fiscal year 2017 Dec 2017 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 403 942 541 1,078 1,694 1,227 1,316 1,312 1,480
EBITDA 320 651 −1,642 790 1,317 859 926 877 1,018
Operating income 190 128 −1,926 603 1,074 534 512 439 563
Net income 179 50 −1,208 417 894 388 366 325 426
Diluted EPS — — — — — — — — $2.32
Growth (year on year)
Revenue — +133.7% −42.5% +99.2% +57.1% −27.6% +7.2% −0.3% +11.4%
EBITDA — +103.6% −352.2% — +66.6% −34.8% +7.8% −5.3% +10.3%
Operating income — −32.9% <−999% — +78.2% −50.2% −4.2% −14.2% +13.3%
Net income — −71.9% <−999% — +114.2% −56.6% −5.7% −11.1% +16.2%
Diluted EPS — — — — — — — — +19.2%
Margins
EBITDA margin 79.3% 69.1% −303.4% 73.3% 77.7% 70.0% 70.4% 66.8% 68.8%
Operating margin 47.1% 13.5% −355.7% 55.9% 63.4% 43.6% 38.9% 33.5% 38.0%
Net margin 44.4% 5.3% −223.2% 38.7% 52.7% 31.6% 27.8% 24.8% 28.8%
Free-cash-flow margin 2.5% 23.6% 20.7% 51.2% 49.1% 35.1% 33.0% 31.2% 36.9%
Cash flow
Cash from operations 257 648 310 788 1,297 856 921 879 1,037
Capital spending 247 425 198 236 465 425 487 469 492
Free cash flow 10 222 112 552 832 431 434 409 546
Stock-based pay 0 11 10 12 13 16 19 27 35
Free cash flow after stock pay 10 211 102 540 818 415 415 382 510
Balance sheet
Cash 1 183 193 367 675 401 260 267 296
Total debt 0 400 400 400 400 400 400 400 400
Net debt (negative = net cash) −1 217 207 33 −275 −1 140 133 104
Diluted shares — 167m 166m 175m 188m 188m 186m 186m 184m
Returned to shareholders
Dividends — 0 0 14 75 88 98 113 117
Total returned — 0 0 14 75 88 98 113 117

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

4 of 5 checks passed · June 30, 2026
What it owns · $3.1bn
Short-term assets $489mLonger-term assets $2.7bn
What it owes, and who funded it · $2.5bn
Short-term liabilities $309mShareholders' equity $2.1bn
  • Short-term assets cover short-term liabilities $489m of assets due within a year against $309m 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 $296m of cash against $394m of debt.
  • Debt below 40% of shareholders' equity Debt is 18% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 37% to 18% over five years.
  • A year's operating cash flow covers at least 20% of debt $1.0bn of operating cash flow against $394m of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Magnolia Oil & Gas 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

Dividends (TTM)
$117M
Returned to shareholders
21%
of free cash flow
Diluted share count
−2.5%
year over year
Total shareholder yield
2.5%
dividends 2.5% + buybacks 0.0% of market value
Dividend payout ratio
28%
of net income paid out
Days sales outstanding
39 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in oil & gas exploration & production
Last 12 months unless stated MGY GPOR MNR KOS VET NOG Median
Revenue, last 12 months $1.5bn $1.5bn $1.4bn $1.7bn $1.3bn $1.9bn $1.4bn
Revenue growth, last 12 months 11.4% 35.2% 34.4% 20.9% 11.9% −25.6% 10.6%
Revenue growth, 3-year average 1.4% −11.4% 14.8% −0.4% — −4.8% 1.4%
Revenue growth, latest quarter 50.1% −27.8% 40.7% 31.9% — 5.4% 31.5%
Gross margin — 76.3% — — — 74.2% 75.2%
Operating margin 38.0% 45.0% 14.4% — — −24.1% 21.1%
Operating margin, 3-year average 39.2% 25.2% 27.5% — — 17.4% 16.5%
Net margin 28.8% 32.3% 7.4% −27.4% −37.0% −25.4% 10.1%
Cash from operations / revenue 70.1% 54.4% 41.3% 28.6% 62.6% 72.0% 42.4%
Free-cash-flow margin 36.9% 16.2% 19.3% 28.6% 26.1% 75.7% 19.3%
Free-cash-flow margin, 3-year average 34.2% 17.2% 25.9% 28.0% 5.6% 66.7% 19.1%
Stock pay / revenue 2.4% 0.7% 0.9% 1.5% — 0.8% 1.5%
Change in share count −2.5% 4.7% 46.5% 15.1% −2.7% 0.9% 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 11.4% 10.6% 28 of 57
Change in growth rate Growth +13.3pp +4.9pp 12 of 57
Operating margin Profitability 38.0% 19.9% 8 of 42
Net margin Profitability 28.8% 10.1% 8 of 57
Free-cash-flow margin Cash generation 36.9% 23.2% 14 of 51
Stock pay as % of revenue Cash generation 2.4% 1.2% 34 of 47
Long-term debt as % of assets Balance sheet 12.5% 17.6% 11 of 43
Change in share count Balance sheet -2.5% 0.4% 11 of 48
Days sales outstanding Balance sheet 39 days 41 days 20 of 42

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
Products and services
Line of business Revenue Share YoY
Oil and Condensate $918M 70.0% ▼ 12.3%
Natural Gas Liquids Reserves $204M 15.5% ▲ 13.8%
Natural Gas Reserves $190M 14.5% ▲ 110.7%

From Magnolia Oil & Gas Corp's 10-K filed February 12, 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
$5.3B
Institutions reporting
406
Shares held vs prior quarter
▲ 0.8%
Positions opened / closed
51 / 47

Top buyers and sellers, Q2 2026: 213 institutions bought and 188 sold ; the biggest buyer was Blackrock, Inc (+2.5M shares) and the biggest seller Fred Alger Management, LLC (−1.0M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $818M 32.0M 15.5% ▲ 8.4%
Vanguard Portfolio Management LLC $392M 15.3M 7.4% ▲ 18.2%
American Century Companies Inc $282M 11.0M 5.3% ▲ 4.8%
State Street Corp $254M 9.9M 4.8% ▲ 4.7%
Vanguard Capital Management LLC $196M 7.7M 3.7% ▲ 6.6%
Dimensional Fund Advisors LP $182M 7.1M 3.4% ▲ 1.3%
Jupiter Topco LLC $164M 6.4M 3.1% —
Arrowstreet Capital, Limited Partnership $140M 5.5M 2.6% ▼ 12.8%
T. Rowe Price Investment Management, Inc. $133M 5.2M 2.5% ▼ 0.3%
Alliancebernstein L.P. $130M 4.1M 2.5% ▼ 7.4%
Geode Capital Management, LLC $123M 4.8M 2.3% ▲ 5.8%
Nomura Asset Management International Inc. $110M 4.3M 2.1% ▼ 13.3%

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 Magnolia Oil & Gas Corp's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $430,906 5 trades by 3 insiders, last 12 months Insider sales History → $10.8M 7 trades by 7 insiders · 0% under pre-set plans
Net ▼ $10.4M net selling
Insider Date Trade Shares Price Value
Khani David M. Director September 1, 2026 Buy 54 $26.78 $1,446
Khani David M. Director August 7, 2026 Buy 8,000 $25.00 $200,000
Ropp Ralph Lewis Director August 7, 2026 Buy 5,000 $24.63 $123,150
Szabo Shandell Director June 1, 2026 Buy 86 $27.44 $2,360
Szabo Shandell Director March 30, 2026 Sell 11,731 $31.98 $375,157
Djerejian Edward P Director March 10, 2026 Sell 18,000 $28.98 $521,640
Stavros Christopher G CEO & CHAIRMAN March 9, 2026 Sell 119,954 $29.29 $3.5M
Yang Timothy D. EVP, CHIEF LEGAL & COMM & SEC March 9, 2026 Sell 150,000 $29.29 $4.4M
Corales Brian SVP & CHIEF FINANCIAL OFFICER March 9, 2026 Sell 33,000 $29.12 $960,960
Smith Dan F Director March 9, 2026 Sell 18,000 $29.01 $522,180
Acosta Arcilia Director March 9, 2026 Sell 19,235 $29.10 $559,738
Ropp Ralph Lewis Director November 11, 2025 Buy 4,500 $23.10 $103,950

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 13 trades and filings

In the last 12 months, 1 member of Congress disclosed 0 purchases and 1 sale of Magnolia Oil & Gas Corp shares.

  • Gilbert Ray Cisneros, Jr.(D-CA 31):Sale (full), $15,001 - $50,000, traded January 9, 2026, filed February 13, 2026
  • Lisa C. McClain(R-MI 9):Sale (full), $1,001 - $15,000, traded October 31, 2025, filed November 21, 2025
  • Lisa C. McClain(R-MI 9):Sale (full), $1,001 - $15,000, traded October 30, 2025, filed November 21, 2025

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

Earnings dates and SEC filings

Results announcements

Next expected around December 31, 2026 estimated from the company's past filing pattern, not announced

  • October 1, 2026
  • August 5, 2026
  • May 6, 2026
  • February 5, 2026
  • October 29, 2025
  • July 30, 2025

Recent SEC filings

Data status

When each part of this page on Magnolia Oil & Gas 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.

Magnolia Oil & Gas Corp in brief

What does Magnolia Oil & Gas Corp do?
Magnolia Oil & Gas Corp is a US-listed company in the oil & gas exploration & production industry. Its financial year ends in December.
What is Magnolia Oil & Gas Corp's stock ticker?
Magnolia Oil & Gas Corp trades under the ticker MGY on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Magnolia Oil & Gas Corp's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Magnolia Oil & Gas Corp reported revenue of $1.5B, 11.4% higher than a year earlier, according to its SEC filings.
What is Magnolia Oil & Gas Corp's free cash flow?
Magnolia Oil & Gas Corp's free-cash-flow margin is 36.9% of revenue over the trailing twelve months, ranking 14 of the 51 oil & gas exploration & production companies we cover.
What is Magnolia Oil & Gas Corp's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Magnolia Oil & Gas Corp's free cash flow after stock-based pay gives ~$90 per share in the base case, and ~$68–$120 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Magnolia Oil & Gas Corp's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Portfolio Management LLC and American Century Companies Inc. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Magnolia Oil & Gas Corp's market cap?
On November 2, 2026, Magnolia Oil & Gas Corp's market capitalisation was about $4.6B, with a price-to-earnings ratio of 10.8 and net debt of $104M. Market figures come from third-party market data and may be delayed.
Does Magnolia Oil & Gas Corp pay a dividend?
Yes: Magnolia Oil & Gas Corp paid $117M in dividends over the trailing twelve months, a dividend yield of 2.53% and a payout ratio of 27.5%.
How much debt does Magnolia Oil & Gas Corp have?
Magnolia Oil & Gas Corp's debt-to-equity ratio is 18.3%, from its latest balance sheet (37.1% five years earlier). The financial health section below sets out its other solvency checks.
Who are Magnolia Oil & Gas Corp's competitors?
In our Oil & Gas Exploration & Production peer group, the companies closest to Magnolia Oil & Gas Corp are Gulfport Energy Corp, Mach Natural Resources LP, Kosmos Energy Ltd., Vermilion Energy Inc. and Northern OIL & GAS, Inc. The side-by-side comparison below sets their revenue, margins and growth against Magnolia Oil & Gas Corp's.
Are insiders buying or selling Magnolia Oil & Gas Corp stock?
Over the last 12 months, Magnolia Oil & Gas Corp's directors and officers reported 5 open-market purchases and 7 sales on Form 4. The insider trading page charts every trade.
When is Magnolia Oil & Gas Corp's next earnings date?
Around November 4, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Magnolia Oil & Gas Corp announces its own schedule.