Ranger Energy Services

RNGR

Oil & Gas Equipment & Services · Energy

Price

$15.61

-0.04 (-0.26%)

Market Cap

$370.9M

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Share count rising — dilution

+67.3% over 4y

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

Diluted shares outstanding: 13.6M (2021) → 22.7M (2025)

Ranger Energy Services helps oil and gas companies get oil and natural gas out of the ground and keep their wells running. The company provides services like well completion, wireline work, and well maintenance — mainly to oil producers operating in major U.S. shale basins like the Permian Basin and Rockies. It is a smaller, independent oilfield services company competing in a fragmented market alongside larger players like Halliburton and SLB.

Ranger makes money by charging oil producers fees for labor, equipment, and specialized services on a job-by-job or contract basis. The company operates entirely within the United States, with a market cap of roughly $400 million and thin margins that leave little room for error. Its low gross margin of about 8% reflects how competitive and cost-driven this industry is, and the biggest risk Ranger faces is that a drop in oil prices causes producers to cut spending quickly, which directly reduces demand for its services.

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

+17.7% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+333.3% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Insider Activity

20.3%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Runway

~1 months

$7M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

Ranger Energy Services has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

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

7.7%

Thin — 7.7% gross margin

Operating Margin

2.8%

Thin — 2.8% operating margin

ROCE

1.4%

Weak — 1.4% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY

+0.2%

Nearly flat sales (0.2% YoY)

EPS YoY

-26.4%

Earnings shrinking (-26.4% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Cash Conversion

374%

Turns 374% of profit into real cash

FCF Margin

3.1%

Thin free cash flow (3.1%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity

0.09

Conservative — low debt load (0.09)

Interest Cover

11.20x

Comfortably covers interest (11.2x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)

23.8x

Growth-priced — P/E 23.8

P/E above the market average. People are paying up for expected growth.

P/E vs Forward

+9.8

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (23.8 → 14.1)

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Dividends

Dividend Yield

1.56%

Small dividend — 1.56% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend Growth

+9.1%

Dividend growing modestly (9.1% YoY)

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