Spindletop Oil & Gas

SPND

Oil & Gas Exploration & Production · Energy

Price

$2.86

+0.00 (+0.00%)

Market Cap

$18.9M

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Share count falling — buybacks

−1.5% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 6.8M (2021) → 6.7M (2025)

Spindletop Oil & Gas Co. is a small energy company that searches for and produces oil and natural gas. It focuses on exploration and production, meaning it finds underground reserves, drills wells, and sells the crude oil and natural gas it extracts. The company is named after the famous Spindletop field in Texas, which was one of the most significant oil discoveries in American history.

Spindletop earns revenue by selling oil and natural gas directly into commodity markets, so its income rises and falls with energy prices. It operates as a very small company, reflected in its near-zero market capitalization, and its deeply negative operating margin suggests it is currently spending far more than it earns. The biggest risk the company faces is its financial sustainability — with a negative return on invested capital and thin production scale, it depends heavily on rising commodity prices or new discoveries to reach 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

+1.5% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

-190.9% 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

87.5%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Runway

~7 months

$4M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Short runway — potential dilution ahead through share issuance

Cash watch

Spindletop Oil & Gas 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

30.7%

Modest — 30.7% gross margin

Operating Margin

-214.7%

Losing money on operations — -214.7%

ROCE

-18.7%

Weak — -18.7% return on capital

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

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Growth

Sales YoY

+4.7%

Slow sales growth (4.7% YoY)

EPS YoY

N/A

Data not available

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Cash Conversion

N/A

Data not available

FCF Margin

-24.5%

Burning cash (-24.5%)

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

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Stability

Debt / Equity

N/A

Data not available

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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