Empire Petroleum Corporation

Oil & Gas Exploration & Production · Energy

Price

$2.50

+0.07 (+2.88%)

Market Cap

$99.5M

Exchange

New York Stock Exchange American

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Share count rising — dilution

+831.0% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 3.7M (2021) → 34.1M (2025)

Empire Petroleum Corporation is a small oil and gas company that finds and produces crude oil and natural gas from underground reservoirs. It focuses on acquiring and developing existing oil and gas properties in the United States, selling the raw energy it extracts to refiners, pipelines, and energy traders. The company operates in the exploration and production segment of the energy industry, meaning it takes on the risk of drilling and pulling resources out of the ground.

Empire makes money by selling the oil and natural gas it produces, so its revenue rises and falls with commodity prices. It is a micro-cap company with operations concentrated in the U.S., and it currently spends significantly more than it earns, as shown by its deeply negative operating margin. The biggest risk the company faces is its reliance on volatile oil and gas prices combined with the need to raise additional capital to fund drilling activity and reach sustainable profitability.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-14.5% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-50.0% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Insider Activity

32.4%ownership

Insiders own a meaningful stake in the company

Cash Runway

~2 years

$9M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

$9M cash & investments at current burn rate

Revenue declining

Empire Petroleum Corporation's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

1.0%

Thin — 1.0% gross margin

Operating Margin

-38.9%

Losing money on operations — -38.9%

ROCE

-16.1%

Weak — -16.1% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

-23.1%

Shrinking sales (-23.1% YoY)

EPS YoY

N/A

—

Data not available

EPS Consistency

0/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

—

Data not available

FCF Margin

-31.3%

Burning cash (-31.3%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

4.03

Heavy debt load (4.03)

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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