Energy · Oil & Gas Exploration & Production
Price
$1.07
Market Cap
$222.7M
Employees
115
Beta
0.78
Avg Volume
5,392,001
CEO
Paul D. McKinney
Business Description
Ring Energy, Inc. operates as an oil and natural gas exploration and production firm, concentrating its efforts on the acquisition, development, and extraction of these resources across Texas and New Mexico. By the close of 2021, specifically December 31st, the company had established proved reserves totaling roughly 77.8 million barrels of oil equivalent. Its asset portfolio includes significant acreage: 18,882 net developed acres alongside 1,406 net undeveloped acres in Texas's Andrews and Gaines counties; an additional 18,437 net developed acres situated in Culberson and Reeves counties, Texas; and a combined 13,662 net developed acres with 11,993 net undeveloped acres located across Yoakum, Runnels, and Coke Counties in Texas, as well as Lea County, New Mexico. The company's oil and natural gas output is primarily distributed to end-users, marketing firms, and other various buyers. Incorporated in 2004, Ring Energy, Inc. was initially known as Transglobal Mining Corp. until its name was officially changed in March 2008. The company's principal office is located in The Woodlands, Texas.
Business History
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALCStock Price / EPS (Diluted)
-6.29
Stock Price: $1.07
EPS (Diluted): -0.17
EPS (Diluted): -0.17
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
0.21
Stock Price: $1.07
Total Equity: $836.28M
Shares: 206,982,327
Total Equity: $836.28M
Shares: 206,982,327
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
6.26
Market Cap: $222.70M
Total Debt: $421.82M
Cash: $902,913
EBITDA: $96.15M
Total Debt: $421.82M
Cash: $902,913
EBITDA: $96.15M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$602.0M
Market Cap: $222.70M
Total Debt: $421.82M
Cash: $902,913
Total Debt: $421.82M
Cash: $902,913
P/S Ratio (Price per dollar of revenue)
APIStock Price / Revenue Per Share
0.58
Stock Price: $1.07
Revenue: $307.18M
Shares: 206,982,327
Revenue: $307.18M
Shares: 206,982,327
EV/Sales (Total value vs revenue — works when P/E can't)
API1.96
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
60.7%
Gross Profit: $186.47M
Revenue: $307.18M
Revenue: $307.18M
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
24.2%
Operating Income: $74.49M
Revenue: $307.18M
Revenue: $307.18M
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
-11.3%
Net Income: -$34.73M
Revenue: $307.18M
Revenue: $307.18M
ROE (Profit from shareholder equity)
CALCNet Income / Total Equity
-4.2%
Net Income: -$34.73M
Total Equity: $836.28M
Total Equity: $836.28M
ROIC (Profit from all invested capital)
CALCNOPAT / Invested Capital
4.9%
Operating Income: $74.49M
Tax Rate: 17.7%
Equity: $836.28M
Total Debt: $421.82M
Cash: $902,913
Tax Rate: 17.7%
Equity: $836.28M
Total Debt: $421.82M
Cash: $902,913
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
0.61
Current Assets: $62.07M
Current Liabilities: $100.96M
Current Liabilities: $100.96M
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
0.50
Short-Term Debt: $1.82M
Long-Term Debt: $420.00M
Total Debt: $421.82M
Total Equity: $836.28M
Long-Term Debt: $420.00M
Total Debt: $421.82M
Total Equity: $836.28M
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$1.48
Revenue: $307.18M
Shares: 206,982,327
Shares: 206,982,327
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$4.04
Total Equity: $836.28M
Shares: 206,982,327
Shares: 206,982,327
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$0.26
Operating CF: $150.85M
CapEx: -$97.92M
Shares: 206,982,327
CapEx: -$97.92M
Shares: 206,982,327
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $1.07
Stock Price: $1.07
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: -$34.73M
Net Income: -$34.73M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares REI against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 23, 2026 10:51am (3d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $196.3M | $347.2M | $361.1M | $366.3M | $307.2M |
| Cost of Revenue | $83.7M | $127.4M | $184.7M | $202.4M | $120.7M |
| Gross Profit | $112.6M | $219.8M | $176.4M | $163.9M | $186.5M |
| Operating Expenses | $16.8M | $28.1M | $30.6M | $31.0M | $112.0M |
| Operating Income | $95.8M | $191.7M | $145.8M | $132.9M | $74.5M |
| Net Income | $3.3M | $138.6M | $104.9M | $67.5M | -$34.7M |
| EBITDA | $55.1M | $226.0M | $237.5M | $229.9M | $96.2M |
| EPS | $0.03 | $1.14 | $0.55 | $0.34 | $-0.17 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 23, 2026 10:51am (3d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $2.4M | $3.7M | $296,384 | $1.9M | $902,913 |
| Total Current Assets | $29.8M | $63.2M | $55.9M | $50.4M | $62.1M |
| Total Assets | $684.2M | $1.3B | $1.4B | $1.4B | $1.5B |
| Current Liabilities | $76.7M | $141.8M | $113.8M | $105.0M | $101.0M |
| Long-Term Debt | $290.0M | $415.0M | $425.0M | $385.0M | $420.0M |
| Total Liabilities | $383.5M | $607.9M | $589.9M | $549.5M | $677.2M |
| Total Equity | $300.6M | $661.1M | $786.6M | $858.6M | $836.3M |
| Retained Earnings | -$252.9M | -$114.3M | -$9.4M | $58.0M | $23.3M |
Cash Flow (Annual)
Last updated: Jun 23, 2026 10:51am (3d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $72.7M | $197.0M | $198.2M | $194.4M | $150.8M |
| Capital Expenditure | -$53.2M | -$131.2M | -$155.2M | -$156.3M | -$97.9M |
| Free Cash Flow | $19.5M | $65.8M | $43.0M | $38.1M | $52.9M |
| Acquisitions (net) | $2.0M | -$177.8M | -$80.7M | $0 | -$81.8M |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | $0 | $0 | $0 | $-919,249 | $0 |
| Net Change in Cash | -$1.2M | $1.3M | -$3.4M | $1.6M | $-963,482 |
Analyst Estimates (Annual)
Last updated: Jun 26, 2026 11:20pm (9h ago)| Metric | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|
| Revenue |
$367.2M $366.6M – $367.7M
|
$310.5M $307.8M – $313.2M
|
$514.4M $509.9M – $518.9M
|
$552.7M $547.8M – $557.5M
|
| EBITDA |
$185.8M $185.5M – $186.0M
|
$157.1M $155.7M – $158.5M
|
$260.3M $258.0M – $262.5M
|
$279.6M $277.2M – $282.1M
|
| Net Income |
$73.7M $72.9M – $74.6M
|
$37.3M $36.8M – $37.7M
|
$52.2M $42.5M – $62.0M
|
$57.4M $54.4M – $90.0M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 23, 2026 10:51am (3d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +76.9% | +4.0% | +1.5% | -16.1% |
| Gross Profit Growth | +95.3% | -19.8% | -7.1% | +13.8% |
| Operating Income Growth | +100.2% | -24.0% | -8.8% | -44.0% |
| Net Income Growth | +4,072.1% | -24.4% | -35.7% | -151.5% |
| EBITDA Growth | +310.3% | +5.1% | -3.2% | -58.2% |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for REI — it's generated by the pipeline (
market-narrative step).
No community reviews yet for REI.
Be the first — hit How to Contribute, have any AI review this page, and paste its take back here.
My Notes
personal — only you see this
Sign in to save personal notes and rate your interest in this stock.
Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30