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Prairie Operating Co. (PROP) stock

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NASDAQ: PROP Nasdaq Oil & Gas Exploration & Production Next results ~November 12, 2026

B+ Fundamentals grade

Prairie Operating Co. 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

Under review: every model's value for Prairie Operating Co. is far from the share price, which usually points to a data problem (a merger, a share-count change, a one-off) rather than a bargain or a bubble.

Price vs value

Under review: oil and gas producer: valued on the net asset value of its proved reserves (the SEC standardised measure less debt and other claims) with the cash-flow model second; the models don't give a combined value we can rate. We'll show the comparison once resolved.

Prairie Operating Co. 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, 0 selling27 purchases and 0 sales by directors and officers, last 12 monthsInsider trades
  • Funds69 adding, 64 cuttingOf 19 active managers that changed their stake, 10 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Prairie Operating files

Where Prairie Operating Co. stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $343m, up 282.7% on a year earlier, faster than the 216.9% growth a quarter earlier. That growth ranks 1 of 33 among the oil & gas exploration & production companies we cover. Free-cash-flow margin rose to 71.8% from -511.3% a year earlier. Operating margin widened to 27.1% from -12826.4%. Against its peers on growth, profitability, cash generation and balance sheet, it grades B+. It passes 0 of our 2 financial-health checks.

Our model value for Prairie Operating is under review, so past values are not shown until it is resolved.

Source: 10-Q filed August 14, 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 12, 2026 (estimated)

Prairie Operating Co.'s trailing-twelve-month revenue grew 282.7% year on year, with a free-cash-flow margin of 71.8%. Where it stands out: revenue growth of 282.7% ranks 1 of 57 oil & gas exploration & production companies we cover. Where it lags: stock pay as % of revenue of 5.9% ranks 46 of 47 oil & gas exploration & production companies we cover.

Current signal Revenue growth accelerating: TTM revenue growth rose to 282.7% (+65.8pp vs the prior quarter).

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 282.7% 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 65.8 points higher than a quarter earlier.
  • High operating margin. 27.1% of revenue is left as operating profit, against a median of 19.9% for oil & gas exploration & production companies we cover.
  • Margins widening. Operating margin is up 10079.9 points on a year ago.
  • Strong cash generation. 71.8% of revenue turned into free cash flow, against a median of 23.2% for oil & gas exploration & production companies we cover.

Things to watch

  • Results due soon. Results are expected around 13 November; the share price can move sharply on the day.
  • Share dilution. Diluted shares rose 712.6% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 103% and a beta of -0.1 against the S&P 500.
  • Gross margin slipping. Gross margin is down 31.5 points on a year ago.
  • Below peers: stock pay as % of revenue. Stock pay as % of revenue of 5.9% ranks 46 of 47 oil & gas exploration & production companies we cover (median 1.2%).
  • Below peers: net margin. Net margin of -13.0% ranks 45 of 57 oil & gas exploration & production companies we cover (median 10.1%).

Latest results: FY2026 Q2

Filed August 14, 2026
Earnings per share
$0.23 against an average estimate of $0.04: beat by 417.8%
Revenue
$99m, up 45.2% on a year earlier
Share reaction
-38.2% in the first session after the results on August 17, 2026, against -1.1% for the S&P 500
Next report
November 12, 2026; average EPS estimate $0.11

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

Price chart

  • 1 day-2.4%
  • 1 week+31.1%
  • 1 month+17.8%
  • This year-73.8%
  • 1 year-78.4%
  • 5 years-99.3%
  • 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)
$343M
Operating margin
27.1%
Net margin
-13.0%

Growth

Revenue growth
+282.7%
Change in growth rate
+65.8 pts

Cash

Free cash flow (TTM)
$246M
FCF margin
71.8%
Stock pay % of revenue
5.9%

Earnings

Last results
August 17, 2026
Next results (est.)
November 13, 2026

News & updates

Updated October 31, 2026

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

  1. Agreement
  2. Agreement
  3. Results
  4. Agreement
  5. Leadership

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

Prairie Operating Co. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: oil and gas producer: valued on the net asset value of its proved reserves (the SEC standardised measure less debt and other claims) with the cash-flow model second; the models don't give a combined value we can rate.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Prairie Operating Co. as an oil and gas producer, with every model that fits that kind of business. Cost of equity 8.4%: the 10-year Treasury yield (4.9%) plus a beta of 0.76 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. ~$3.9 Left out: out of range vs price (8.87x)
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: This model is withheld pending its input or assumption review.
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: This model is withheld pending its input or assumption review.
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: This model is withheld pending its input or assumption review.
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Prairie Operating Co. 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.

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025
Share price$250.00$133.53$88.24$113.53$70.59$17.94$88.24$1.59$9.51$6.92$1.69
Market value$1.9bn$1.1bn$907m$1.2bn$743m$189m$1.3bn$56m$137m$321m$76m
+ Net debt (− = net cash)−$5m−$3m−$591349$1m$2m$3m−$285188$4m−$11m$23m$366m
Enterprise value$1.9bn$1.1bn$906m$1.2bn$744m$191m$1.3bn$59m$126m$344m$442m
Multiples
Price / sales 80.2x46.6x60.2x84.4x70.2xn/mn/m107.2x88.4x40.4x0.3x
Price / earnings ——————————2.4x
Price / free cash flow n/m——————————
EV / EBITDA ——————————3.9x

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

21 /100

Weak moat

How hard Prairie Operating'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 -127.3% of total assets over 10 years.

  • Pricing power 0 / 20

    Gross margin has been a median 20.6%, moving by 15.0 percentage points (standard deviation) across 10 years.

  • Durability 10 / 20

    Operating margin has been a median -6.1%; its worst year was -12826.4%.

  • Cash conversion 3 / 20

    Free cash flow was positive in 2 of 8 years, at a median -5.3% of revenue.

  • Discipline 9 / 20

    The diluted share count rose 2445.8% over five years; stock-based pay has been a median 3.2% 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 12, 2026, after the close. Analysts expect revenue of $87m and EPS of $0.11 (range $0.11 to $0.11) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $0.48 +140% $449m +86%
Next $0.37 −23% $501m +12%

Next year's EPS estimate has moved −58.0% in 90 days, across 1 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −30.4% on 90 days ago. In the last 30 days, 0 analysts raised Prairie Operating Co.'s forecast and 1 cut it.

Consensus EPS forecast Prairie Operating Co., last 90 days
$0.20 $0.40 $0.60 $0.80 $1.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $0.69 Current fiscal year, 60 days ago: $0.51 Current fiscal year, 30 days ago: $0.51 Current fiscal year, 7 days ago: $0.48 Current fiscal year, Now: $0.48 $0.48 Next fiscal year, 90 days ago: $0.88 Next fiscal year, 60 days ago: $0.39 Next fiscal year, 30 days ago: $0.39 Next fiscal year, 7 days ago: $0.37 Next fiscal year, Now: $0.37 $0.37

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

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $0.69$0.88
60 days ago $0.51$0.39
30 days ago $0.51$0.39
7 days ago $0.48$0.37
Now $0.48$0.37

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.04 $0.23 +417.8%
Mar 2026 $0.09 −$0.20 −322.2%
Dec 2025 $0.31 $0.26 −15.7%

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

Analyst recommendations

2 analysts, Oct 2026
Buy2100%
Hold00%
Sell00%

Monthly trend

  1. Oct 2026112
  2. Sep 2026112
  3. Aug 2026112

Counts of recommendations published by analysts covering Prairie Operating Co., 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
12.9%
of tradable shares
Days to cover
11.98
at average volume
Short interest, 1 month
−0%
to October 15, 2026
Held by institutions
21%
of shares
Held by insiders
33.7%
of shares
Employees
59
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

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
PROP+392%−98%+499%−27%−76%−74%
Industry peers (median)+86%+55%−8%+2%−15%+18%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
PROP50%25%83%33%25%27%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
PROP−72%−98%−68%−56%−84%−87%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 3, 2015: 100% from June 21, 2016 to October 26, 2026. Getting back needed a 92138% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$0.34 – $2.50
From 52-week high
−82.3%
vs 50-day average
+4.4%
vs 200-day average
−57.3%
Volatility (1 year)
103%
Beta vs S&P 500
-0.10

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
3 up, 3 down
typical move ±12.5%
After a week
3 up, 3 down
typical move ±20.6%
After a month
0 up, 6 down
typical move ±28.3%
Results releasedNext dayS&P 500 next day5 days21 days
August 17, 2026 −38.2% −1.1% −48.9% −60.5%
May 14, 2026 −8.6% −0.4% −6.6% −24.4%
March 30, 2026 +1.5% +2.6% +25.0% −38.5%
November 14, 2025 +1.7% −0.9% +1.7% −2.3%
August 12, 2025 −24.2% +1.4% −40.2% −36.8%
November 20, 2015 +1.1% +0.2% +1.4% −7.2%

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.

Prairie Operating Co. in five measures

Fundamentals grade B+
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) Prairie Operating Co.
-$100M $0 $100M $200M $300M $400M FY21 Q2 FY22 Q1 FY22 Q4 FY26 Q2 Revenue (TTM), FY21 Q2: -$2.6M Revenue (TTM), FY21 Q3: -$3.1M Revenue (TTM), FY21 Q4: $163.3K Revenue (TTM), FY22 Q1: $333.7K Revenue (TTM), FY22 Q2: $273.6K Revenue (TTM), FY22 Q3: $133.1K Revenue (TTM), FY22 Q4: $517.6K Revenue (TTM), FY25 Q2: $89.6M Revenue (TTM), FY25 Q3: $167.4M Revenue (TTM), FY25 Q4: $242.4M Revenue (TTM), FY26 Q1: $312.2M Revenue (TTM), FY26 Q2: $343M $343M

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

View chart data
Period Revenue (TTM)
FY21 Q2 -$2.6M
FY21 Q3 -$3.1M
FY21 Q4 $163.3K
FY22 Q1 $333.7K
FY22 Q2 $273.6K
FY22 Q3 $133.1K
FY22 Q4 $517.6K
FY25 Q2 $89.6M
FY25 Q3 $167.4M
FY25 Q4 $242.4M
FY26 Q1 $312.2M
FY26 Q2 $343M
Revenue growth, TTM YoY Prairie Operating Co.
-100% 0% 100% 200% 300% FY18 Q4 FY19 Q3 FY20 Q2 FY26 Q2 Revenue growth, TTM YoY, FY18 Q4: -7.7% Revenue growth, TTM YoY, FY19 Q1: -13.4% Revenue growth, TTM YoY, FY19 Q2: -30.6% Revenue growth, TTM YoY, FY19 Q3: -38.1% Revenue growth, TTM YoY, FY19 Q4: -23.9% Revenue growth, TTM YoY, FY20 Q1: -28.5% Revenue growth, TTM YoY, FY20 Q2: -27.4% Revenue growth, TTM YoY, FY20 Q3: -38.7% Revenue growth, TTM YoY, FY20 Q4: -96.1% Revenue growth, TTM YoY, FY21 Q4: -60.4% Revenue growth, TTM YoY, FY22 Q4: 216.9% Revenue growth, TTM YoY, FY26 Q2: 282.7% 282.7%

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

View chart data
Period Revenue growth, TTM YoY
FY18 Q4 -7.7%
FY19 Q1 -13.4%
FY19 Q2 -30.6%
FY19 Q3 -38.1%
FY19 Q4 -23.9%
FY20 Q1 -28.5%
FY20 Q2 -27.4%
FY20 Q3 -38.7%
FY20 Q4 -96.1%
FY21 Q4 -60.4%
FY22 Q4 216.9%
FY26 Q2 282.7%
Operating margin (TTM) Prairie Operating Co.
-15000% -10000% -5000% 0% 5000% FY20 Q4 FY21 Q3 FY22 Q2 FY25 Q4 Operating margin (TTM), FY20 Q4: -551.7% Operating margin (TTM), FY21 Q1: 251.3% Operating margin (TTM), FY21 Q2: 236.5% Operating margin (TTM), FY21 Q3: 245.8% Operating margin (TTM), FY21 Q4: -11089.9% Operating margin (TTM), FY22 Q1: -5532.1% Operating margin (TTM), FY22 Q2: -6853.8% Operating margin (TTM), FY22 Q3: -12826.4% Operating margin (TTM), FY22 Q4: -1010.1% Operating margin (TTM), FY25 Q2: 12.0% Operating margin (TTM), FY25 Q3: 27.9% Operating margin (TTM), FY25 Q4: 27.1% 27.1%

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

View chart data
Period Operating margin (TTM)
FY20 Q4 -551.7%
FY21 Q1 251.3%
FY21 Q2 236.5%
FY21 Q3 245.8%
FY21 Q4 -11089.9%
FY22 Q1 -5532.1%
FY22 Q2 -6853.8%
FY22 Q3 -12826.4%
FY22 Q4 -1010.1%
FY25 Q2 12.0%
FY25 Q3 27.9%
FY25 Q4 27.1%
FCF margin (TTM) Prairie Operating Co.
-8000% -6000% -4000% -2000% 0% 2000% FY20 Q1 FY20 Q4 FY22 Q4 FY26 Q2 FCF margin (TTM), FY20 Q1: -10.6% FCF margin (TTM), FY20 Q2: -7.7% FCF margin (TTM), FY20 Q3: -16.0% FCF margin (TTM), FY20 Q4: -265.7% FCF margin (TTM), FY22 Q2: -4843.3% FCF margin (TTM), FY22 Q3: -7003.4% FCF margin (TTM), FY22 Q4: -1446.7% FCF margin (TTM), FY25 Q2: -511.3% FCF margin (TTM), FY25 Q3: -241.3% FCF margin (TTM), FY25 Q4: -126.1% FCF margin (TTM), FY26 Q1: 62.2% FCF margin (TTM), FY26 Q2: 71.8% 71.8%

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

View chart data
Period FCF margin (TTM)
FY20 Q1 -10.6%
FY20 Q2 -7.7%
FY20 Q3 -16.0%
FY20 Q4 -265.7%
FY22 Q2 -4843.3%
FY22 Q3 -7003.4%
FY22 Q4 -1446.7%
FY25 Q2 -511.3%
FY25 Q3 -241.3%
FY25 Q4 -126.1%
FY26 Q1 62.2%
FY26 Q2 71.8%

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 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 Jun 2026
Income
Revenue 3 4 7 11 23 24 23 15 14 11 0 0 1 2 8 242 343
Gross profit 1 1 2 4 8 5 7 0 3 1 2 — — — — — —
EBITDA −0 −3 0 0 2 −3 −1 −5 −1 −2 −2 −18 −7 −16 −26 114 —
Operating income −0 −3 0 0 1 −3 −1 −5 −1 −2 −2 −18 −8 −17 −27 66 —
Net income −2 −2 −1 −4 1 −4 −2 −6 −3 −2 −2 −17 −13 −79 −41 32 −45
Diluted EPS −$0.53 −$0.53 −$0.60 −$0.60 $0.13 −$0.53 −$0.20 −$0.53 −$0.25 −$0.21 −$0.18 −$1.24 — −$5.50 −$0.88 −$1.35 —
Growth (year on year)
Revenue — +26.0% +78.3% +65.9% +106.1% +4.2% −5.5% −33.6% −7.7% −23.9% −96.1% −10.3% +40.0% +198.6% +413.6% +>999% +282.7%
EBITDA — — — +74.7% +331.5% −282.5% — — — — — — — — — — —
Operating income — — — +73.7% +327.4% −296.3% — — — — — — — — — — —
Net income — — — — — −527.1% — — — — — — — — — — −560.3%
Diluted EPS — — — — — −500.0% — — — — — — — — — — —
Margins
Gross margin 28.1% 25.1% 35.9% 38.1% 36.0% 21.9% 28.8% 0.1% 18.9% 8.6% — — — — — — —
EBITDA margin −11.1% −83.4% 3.0% 3.1% 6.6% −11.5% −4.5% −34.4% −6.2% −17.1% −545.8% <−999% <−999% <−999% −328.6% 47.4% —
Operating margin −11.4% −83.5% 2.9% 3.1% 6.4% −12.0% −5.2% −35.4% −6.8% −17.6% −551.7% <−999% <−999% <−999% −334.0% 27.1% —
Net margin −54.3% −53.1% −15.1% −32.5% 4.3% −17.7% −6.9% −38.0% −18.8% −20.4% −470.6% <−999% <−999% <−999% −515.3% 13.3% −13.0%
Free-cash-flow margin −11.8% −41.7% — 15.0% 8.6% 1.4% −11.7% −17.5% −5.4% −6.7% −265.7% <−999% <−999% −785.4% −117.7% −126.5% 71.8%
Cash flow
Cash from operations −0 −2 0 2 2 0 −2 −3 −1 −1 −1 −7 −2 −12 −9 154 238
Capital spending 0 0 — 0 0 0 0 0 0 0 0 2 5 0 0 460 −8
Free cash flow −0 −2 — 2 2 0 −3 −3 −1 −1 −1 −9 −7 −12 −9 −306 246
Stock-based pay — 1 0 1 1 1 1 0 0 0 0 12 3 3 8 15 20
Free cash flow after stock pay — −2 — 1 1 −1 −3 −3 −1 −1 −2 −22 −10 −15 −18 −320 226
Balance sheet
Cash 1 0 2 4 6 5 4 2 1 3 2 3 0 13 5 0 0
Total debt 0 1 0 0 — 0 1 1 2 4 4 3 4 2 28 366 436
Net debt (negative = net cash) −1 0 −2 −4 −6 −5 −3 −1 1 2 3 −0 4 −11 23 366 436
Diluted shares 3m 5m 5m 6m 8m 8m 8m 10m 10m 11m 11m 14m 35m 14m 46m 45m —
Returned to shareholders
Buybacks — — — — — — — — — — — — — — 0 1 1
Total returned — — — — — — — — — — — — — — 0 1 1

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 2 checks passed · June 30, 2026
What it owns · $1.0bn
Short-term assets $42mLonger-term assets $963m
What it owes, and who funded it · $962m
Short-term liabilities $167mLonger-term liabilities $572mShareholders' equity $223m
  • Short-term assets cover short-term liabilities $42m of assets due within a year against $167m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $42m short-term assets against $572m 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 Interest not separately reported. Not assessable.

From Prairie Operating Co.'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 Q2 TTM
Buybacks (TTM)
$1.4M
Returned to shareholders
1%
of free cash flow
Total shareholder yield
2.9%
dividends 0.0% + buybacks 2.9% of market value

Competitors: side by side with peers

Closest by revenue in oil & gas exploration & production
Last 12 months unless stated PROP KRP EGY REI VTS OBE Median
Revenue, last 12 months $343m $341m $350m $324m $300m $409m $1.4bn
Revenue growth, last 12 months 282.7% 6.2% −25.5% −3.2% 10.6% −25.9% 10.6%
Revenue growth, 3-year average — 8.2% −1.3% −3.6% 10.0% — 1.4%
Revenue growth, latest quarter 45.2% 30.0% 39.5% 26.7% 23.0% — 31.5%
Gross margin −12.6% — — 99.9% — — 75.2%
Operating margin 27.1% 40.1% −10.4% −53.0% 12.0% — 21.1%
Operating margin, 3-year average <−999% 29.9% 17.2% 6.0% 14.9% — 16.5%
Net margin −13.0% 29.7% −31.1% −68.0% −15.4% 6.2% 10.1%
Cash from operations / revenue 69.5% 69.7% 56.1% 48.1% 42.1% 42.0% 42.4%
Free-cash-flow margin 71.8% 33.8% 26.4% 46.2% 33.7% −10.3% 19.3%
Free-cash-flow margin, 3-year average −235.1% −8.8% 20.1% 48.8% 46.2% −0.4% 19.1%
Stock pay / revenue 5.9% 4.9% 1.8% 2.1% 2.8% 1.5% 1.5%
Change in share count 712.6% — 0.7% 6.0% 11.5% −5.5% 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 282.7% 10.6% 1 of 57
Change in growth rate Growth +65.8pp +4.9pp 1 of 57
Operating margin Profitability 27.1% 19.9% 17 of 42
Net margin Profitability -13.0% 10.1% 45 of 57
Free-cash-flow margin Cash generation 71.8% 23.2% 3 of 51
Stock pay as % of revenue Cash generation 5.9% 1.2% 46 of 47
Long-term debt as % of assets Balance sheet 0.0% 17.6% 1 of 43

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 YoY
Crude Oil Sales $204M ▲ 2993.9%
NGL Sales $28.1M ▲ 3448.0%
Natural Gas Liquids Reserves $28.1M ▲ 3448.0%
Natural Gas Sales $9.5M ▲ 1619.1%

These categories overlap or exclude eliminations, so shares aren't shown.

From Prairie Operating Co.'s 10-K filed March 31, 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
$14M
Institutions reporting
110
Shares held vs prior quarter
▲ 8.0%
Positions opened / closed
31 / 39

Top buyers and sellers, Q2 2026: 69 institutions bought and 64 sold ; the biggest buyer was AQR Capital Management LLC (+2.1M shares) and the biggest seller Hudson Bay Capital Management LP (−1.5M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Vanguard Capital Management LLC $2M 2.8M 14.2% ▲ 83.2%
AQR Capital Management LLC $1.7M 2.4M 12.1% ▲ 958.6%
Arax Advisory Partners $1M 1.4M 7.3% ▲ 2.7%
Lazard Asset Management LLC $820,918 1.1M 5.8% ▲ 616.9%
UBS Group AG $728,125 1.0M 5.2% ▲ 237.0%
Blackrock, Inc. $634,894 880K 4.5% ▼ 56.8%
Susquehanna International Group, LLP $621,051 861K 4.4% ▼ 37.8%
Geode Capital Management, LLC $620,566 860K 4.4% ▼ 3.1%
Group One Trading LLC $433,288 601K 3.1% ▲ 39.3%
Millennium Management LLC $379,420 526K 2.7% New
Vanguard Fiduciary Trust Co $321,167 445K 2.3% ▲ 87.8%
Corient Private Wealth LP $312,546 433K 2.2% ▲ 519.0%

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 Prairie Operating Co.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $5.9M 27 trades by 4 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $5.9M net buying
Insider Date Trade Shares Price Value
Frommer Richard N. Director September 3, 2026 Buy 28,000 $0.45 $12,600
Sweeney Daniel T. EVP, GC and Corp. Sec. May 19, 2026 Buy 15,925 $0.89 $14,173
Frommer Richard N. Director May 19, 2026 Buy 75,500 $0.87 $65,685
Narrogal Nominees Pty Ltd 10% owner December 29, 2025 Buy 210,981 $1.61 $339,679
Narrogal Nominees Pty Ltd 10% owner December 24, 2025 Buy 50,000 $1.68 $84,000
Narrogal Nominees Pty Ltd 10% owner December 19, 2025 Buy 33,825 $1.68 $56,826
Narrogal Nominees Pty Ltd 10% owner December 18, 2025 Buy 36,701 $1.68 $61,658
Narrogal Nominees Pty Ltd 10% owner December 17, 2025 Buy 20,795 $1.68 $34,936
Narrogal Nominees Pty Ltd 10% owner December 17, 2025 Buy 50,000 $1.68 $84,000
Narrogal Nominees Pty Ltd 10% owner December 16, 2025 Buy 50,000 $1.68 $84,000
Narrogal Nominees Pty Ltd 10% owner December 16, 2025 Buy 36,022 $1.68 $60,517
O'Neill Gregory K 10% owner December 15, 2025 Buy 50,000 $1.71 $85,500

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 November 13, 2026 estimated from the company's past filing pattern, not announced

  • August 17, 2026
  • May 14, 2026
  • March 30, 2026
  • November 14, 2025
  • August 12, 2025
  • November 20, 2015

Recent SEC filings

Data status

When each part of this page on Prairie Operating Co. 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.

Prairie Operating Co. in brief

What does Prairie Operating Co. do?
Prairie Operating Co. is a US-listed company in the oil & gas exploration & production industry. Its financial year ends in December.
What is Prairie Operating Co.'s stock ticker?
Prairie Operating Co. trades under the ticker PROP on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Prairie Operating Co.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Prairie Operating Co. reported revenue of $343M, 282.7% higher than a year earlier, according to its SEC filings.
What is Prairie Operating Co.'s free cash flow?
Prairie Operating Co.'s free-cash-flow margin is 71.8% of revenue over the trailing twelve months, ranking 3 of the 51 oil & gas exploration & production companies we cover.
Who are Prairie Operating Co.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Vanguard Capital Management LLC, AQR Capital Management LLC and Arax Advisory Partners. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Prairie Operating Co.'s market cap?
On December 31, 2025, Prairie Operating Co.'s market capitalisation was about $76.4M, with a price-to-earnings ratio of 2.4 and net debt of $366M. Market figures come from third-party market data and may be delayed.
Who are Prairie Operating Co.'s competitors?
In our Oil & Gas Exploration & Production peer group, the companies closest to Prairie Operating Co. are Kimbell Royalty Partners, LP, Vaalco Energy Inc, Ring Energy, Inc., Vitesse Energy, Inc. and Obsidian Energy LTD. The side-by-side comparison below sets their revenue, margins and growth against Prairie Operating Co.'s.
Are insiders buying or selling Prairie Operating Co. stock?
Over the last 12 months, Prairie Operating Co.'s directors and officers reported 27 open-market purchases and 0 sales on Form 4. The insider trading page charts every trade.
When is Prairie Operating Co.'s next earnings date?
Around November 12, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Prairie Operating Co. announces its own schedule.