← RING ENERGY, INC.
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||
| Net Income (Loss) Attributable to Parent | ($37.6m) |
$1.8m
+104.66%
|
$9.0m
+413.14%
|
$29.5m
+227.75%
|
($253.4m)
-959.12%
|
$3.3m
+101.31%
|
$138.6m
+4072.12%
|
$104.9m
-24.36%
|
$67.5m
-35.66%
|
($34.7m)
-151.48%
|
— | |
| Depreciation, Depletion and Amortization | $303k | $320k | $214k | $56.2m | $43.0m | $37.2m | $55.7m | $88.6m | $98.7m | $96.4m | $89.7m | |
| Amortization of Debt Issuance Costs | — | — | — | $991k | $1.2m | $666k | $2.7m | $4.9m | $5.0m | $4.5m | — | |
| Depreciation | $303k | $320k | $214k | $334k | $376k | $433k | $206k | $364k | $406k | $409k | $89.7m | |
| Amortization of deferred financing costs | — | $0 | $0 | $991k | $1.2m | $666k | $2.7m | $4.9m | $5.0m | $4.5m | — | |
| Payments to acquire or improve fixed assets subject to depreciation | ($9k) | ($336k) | $0 | $0 | ($55k) | ($569k) | ($320k) | ($492k) | ($186k) | ($180k) | — | |
| Proceeds from sale of fixed assets subject to depreciation | — | — | — | — | $0 | $0 | $135k | $332k | $11k | $17k | — | |
| Depreciation Amortization Depletion | — | — | — | — | — | — | $55.7m | $88.6m | $98.7m | $96.4m | $89.7m | |
| Depreciation, Amortization and Accretion, Net | $11.5m | $20.5m | $39.0m | $56.2m | $43.0m | $37.2m | $55.7m | $88.6m | $98.7m | $96.4m | $89.7m | |
| Deferred Income Tax Expense (Benefit) | ($20.0m) | $10.4m | $3.4m | $13.8m | ($6.0m) | $90k | $8.7m | ($425k) | $19.9m | ($7.9m) | ($27.8m) | |
| Deferred Tax | — | — | — | — | — | — | $8.7m | ($425k) | $19.9m | ($7.9m) | ($27.8m) | |
| Share-based Payment Arrangement, Noncash Expense | $2.3m | $3.7m | $3.9m | $3.1m | $5.4m | $2.4m | $7.2m | $8.8m | $5.5m | $6.1m | $6.8m | |
| Payment, Tax Withholding, Share-based Payment Arrangement | — | — | — | — | — | $385k | $521k | $520k | $919k | $1.2m | — | |
| Share-based compensation | $2.3m | $3.7m | $3.9m | $3.1m | $5.4m | $2.4m | $7.2m | $8.8m | $5.5m | $6.1m | $6.8m | |
| Excess tax expense (benefit) related to share-based compensation | — | ($50k) | $908k | $3.9m | ($2.0m) | ($175k) | ($312k) | $478k | $104k | $31k | — | |
| Ceiling test impairment | $56.5m | $0 | $14.2m | $0 | $277.5m | $0 | $0 | $0 | $0 | $108.8m | — | |
| Asset Impairment Charge | — | — | — | — | — | — | $242k | $134k | $161k | $108.8m | $271.0m | |
| Nonoperating Income (Expense) | ($593k) | ($3.8m) | ($7.5m) | ($16.9m) | $9.2m | ($92.3m) | ($44.7m) | ($40.8m) | ($45.0m) | ($7.8m) | — | |
| Changes in operating assets and liabilities: | ||||||||||||
| Change In Working Capital | — | — | — | — | — | — | $26.8m | $3.0m | $700k | $3.6m | $11.1m | |
| Increase (Decrease) in Accounts Receivable | ($229k) | $10.0m | ($666k) | $10.0m | ($7.9m) | $9.5m | $17.2m | ($1.2m) | ($3.6m) | ($4.5m) | ($5.2m) | |
| Accounts receivable | $229k | ($10.0m) | $666k | ($10.0m) | $7.9m | ($9.5m) | ($17.2m) | $1.2m | $3.6m | $4.5m | ($5.2m) | |
| Change In Receivables | — | — | — | — | — | — | ($17.2m) | $1.2m | $3.6m | $4.5m | ($5.2m) | |
| Changes In Account Receivables | — | — | — | — | — | — | ($17.2m) | $1.2m | $3.6m | $4.5m | ($5.2m) | |
| Increase (Decrease) in Inventories | — | — | — | — | — | — | $5.6m | ($3.1m) | ($2.1m) | $1.3m | ($242k) | |
| Inventory | — | — | — | — | $0 | $0 | ($5.6m) | $3.1m | $2.1m | ($1.3m) | ($242k) | |
| Accounts payable | ($2.2m) | $12.4m | $4.4m | $12.3m | ($8.4m) | $15.4m | $50.8m | ($1.5m) | ($5.1m) | $475k | $17.1m | |
| Prepaid expenses and other assets | $334k | $268k | ($318k) | ($1.9m) | $3.6m | ($542k) | ($1.2m) | $227k | $94k | ($41k) | — | |
| Net Cash Provided by (Used in) Operating Activities | $11.2m |
$42.8m
+281.71%
|
$70.4m
+64.36%
|
$106.6m
+51.54%
|
$72.2m
-32.32%
|
$72.7m
+0.79%
|
$197.0m
+170.83%
|
$198.2m
+0.61%
|
$194.4m
-1.89%
|
$150.8m
-22.41%
|
$155.9m
+3.32%
|
|
| Cash flows from investing activities: | ||||||||||||
| Gain (Loss) on Disposition of Property Plant Equipment | — | — | — | — | — | — | — | ($87k) | — | — | $40.3m | |
| Capital Expenditure | — | — | — | — | — | — | ($131.2m) | ($155.2m) | ($156.5m) | ($179.8m) | ($135.5m) | |
| Payments to Acquire Businesses, Net of Cash Acquired | — | — | — | $276.1m | $0 | — | $177.8m | — | — | — | $70.9m | |
| Payments for acquisitions | — | $0 | $0 | ($276.1m) | $0 | $0 | ($177.8m) | ($80.7m) | $0 | ($81.9m) | — | |
| Proceeds from divestiture of oil and natural gas properties | — | $0 | $0 | $8.5m | $0 | $2.0m | $24k | $1.6m | $121k | $100 | — | |
| Net Cash Provided by (Used in) Investing Activities | ($38.3m) | ($157.9m) | ($203.4m) | ($423.0m) | ($43.8m) | ($51.2m) | ($308.9m) | ($222.6m) | ($150.9m) | ($179.5m) | ($130.4m) | |
| Cash flows from financing activities: | ||||||||||||
| Issuance Of Debt | — | — | — | — | — | — | $637.3m | $226.6m | $131.6m | $233.5m | $164.5m | |
| Long Term Debt Issuance | — | — | — | — | — | — | $636.0m | $225.0m | $130.0m | $231.8m | $164.5m | |
| Long Term Debt Payments | — | — | — | — | — | — | ($511.5m) | ($215.8m) | ($171.0m) | ($197.3m) | ($253.1m) | |
| Net Issuance Payments Of Debt | — | — | — | — | — | — | $124.4m | $9.3m | ($41.0m) | $34.5m | ($88.6m) | |
| Net Long Term Debt Issuance | — | — | — | — | — | — | $124.5m | $9.2m | ($41.0m) | $34.5m | ($88.6m) | |
| Net Short Term Debt Issuance | — | — | — | — | — | — | ($87k) | $34k | ($37k) | $9k | $8k | |
| Repayment Of Debt | — | — | — | — | — | — | ($512.9m) | ($217.4m) | ($172.6m) | ($198.9m) | ($253.1m) | |
| Short Term Debt Issuance | — | — | — | — | — | — | $1.3m | $1.6m | $1.6m | $1.6m | $1.7m | |
| Short Term Debt Payments | — | — | — | — | — | — | ($1.4m) | ($1.6m) | ($1.6m) | ($1.6m) | ($1.6m) | |
| Proceeds from Issuance of Common Stock | $139.6m | $59.0m | $81.8m | $0 | $19.4m | $368k | $8.2m | $12.3m | $0 | $0 | $64.8m | |
| Common stock issued for acquisition | — | — | — | — | $0 | $0 | $69.1m | $0 | $0 | $7.4m | — | |
| Common Stock Issuance | — | — | — | — | — | — | $8.2m | $12.3m | $0 | $0 | $64.8m | |
| Issuance Of Capital Stock | — | — | — | — | — | — | $8.2m | $12.3m | $0 | $0 | $64.8m | |
| Net Other Financing Charges | — | — | — | — | — | — | ($19.4m) | ($572k) | ($1.0m) | ($6.8m) | ($538k) | |
| Net Cash Provided by (Used in) Financing Activities | $93.8m |
$59.0m
-37.06%
|
$121.4m
+105.70%
|
$323.1m
+166.07%
|
($34.8m)
-110.76%
|
($22.7m)
+34.79%
|
$113.2m
+599.55%
|
$21.0m
-81.46%
|
($42.0m)
-300.12%
|
$27.7m
+165.93%
|
($24.3m)
-187.88%
|
|
| Net Increase (Decrease) in Cash | $66.7m | ($56.1m) | ($11.6m) | $6.6m | ($6.4m) | ($1.2m) | $1.3m | ($3.4m) | $1.6m | ($963k) | — | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $66.7m | ($56.1m) | ($11.6m) | $6.6m | ($6.4m) | ($1.2m) | $1.3m | ($3.4m) | $1.6m | ($963k) | $1.1m | |
| Cash at Beginning of Period | $4.4m | $71.1m | $15.0m | $3.4m | $10.0m | $2.4m | $3.7m | $296k | $1.9m | $903k | — | |
| Beginning Cash Position | — | — | — | — | — | — | $2.4m | $3.7m | $296k | $1.9m | $0 | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | — | — | — | $2.4m | $3.7m | $296k | $1.9m | $903k | $1.1m | |
| Additional Supplementary Disclosures | ||||||||||||
| Additional Supplementary Disclosures | ||||||||||||
| Gain (Loss) on Disposition of Assets | — | — | — | — | — | — | $0 | $0 | $90k | $446k | — | |
| Supplemental disclosure of cash flow information: | ||||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating Activities | $649k | $0 | $324k | $10.4m | $16.9m | $14.1m | $19.8m | $38.0m | $39.2m | $32.4m | — | |
| Income Taxes Paid, Net | — | — | — | — | — | $0 | $0 | $72k | $72k | $347k | — | |
| Additional Financial Items | ||||||||||||
| Accretion Expense | $487k | $568k | $606k | $944k | $907k | $744k | $983k | $1.4m | $1.4m | $1.5m | — | |
| Derivative, Gain (Loss) on Derivative, Net | — | ($4.0m) | $4.0m | ($3.0m) | $22.5m | ($77.9m) | ($21.5m) | $2.8m | ($2.4m) | $31.7m | — | |
| Gain (Loss) on Disposition of Intangible Assets | — | — | — | — | — | — | $0 | $0 | $90k | $446k | — | |
| General and Administrative Expense | $8.0m | $10.5m | $12.9m | $19.9m | $16.9m | $16.1m | $27.1m | $29.2m | $29.6m | $31.9m | — | |
| Income Tax Expense (Benefit) | ($20.0m) | $10.4m | $3.4m | $13.8m | ($6.0m) | $90k | $8.4m | $125k | $20.4m | ($7.5m) | — | |
| Interest Expense Nonoperating | — | — | — | — | — | — | — | — | $43.3m | $40.4m | — | |
| Investment Income, Interest | $56k | $291k | $98k | $14k | $8 | $1 | $4 | $257k | $492k | $291k | — | |
| Operating Costs and Expenses | $87.9m | $50.7m | — | — | — | — | — | — | — | — | — | |
| Operating Lease, Expense | — | — | — | $925k | $1.2m | $523k | $364k | $542k | $700k | $700k | — | |
| Proceeds from Stock Options Exercised | $112k | $0 | $100k | $0 | $0 | $200k | $0 | $0 | — | — | — | |
| Revenue from Contract with Customer, Including Assessed Tax | — | — | $120.1m | $195.7m | $113.0m | $196.3m | — | — | — | — | — | |
| Unrealized Gain (Loss) on Derivatives | — | ($4.0m) | $4.0m | ($3.0m) | ($1.2m) | ($77.9m) | ($21.5m) | $2.8m | ($2.4m) | $31.7m | — | |
| Asset retirement obligation accretion | — | — | — | $944k | $907k | $744k | $983k | $1.4m | $1.4m | $1.5m | — | |
| Credit loss expense | — | — | — | — | $0 | $0 | $242k | $134k | $161k | $19k | — | |
| (Gain) loss on disposal of assets | — | — | — | — | — | — | $0 | $0 | ($90k) | ($446k) | — | |
| (Gain) loss on derivative contracts | — | — | ($4.0m) | $3.0m | $1.2m | $77.9m | $21.5m | ($2.8m) | $2.4m | ($31.7m) | — | |
| Cash received (paid) for derivative settlements, net | — | — | — | $63k | $22.5m | ($52.8m) | ($62.5m) | ($9.1m) | ($5.2m) | $5.5m | — | |
| Settlement of asset retirement obligation | ($241k) | ($767k) | ($578k) | ($1.3m) | ($684k) | ($2.2m) | ($2.7m) | ($1.9m) | ($1.6m) | ($904k) | — | |
| Payments to purchase oil and natural gas properties | ($10.2m) | ($28.7m) | ($4.7m) | ($3.4m) | ($1.3m) | ($1.4m) | ($1.6m) | ($2.2m) | ($2.2m) | ($2.5m) | — | |
| Payments to develop oil and natural gas properties | ($26.6m) | ($124.7m) | ($198.9m) | ($152.1m) | ($42.5m) | ($51.3m) | ($129.3m) | ($152.6m) | ($153.9m) | ($95.2m) | — | |
| Proceeds from sale of properties | — | — | — | — | — | $0 | $0 | $11.5m | $5.5m | $0 | — | |
| Proceeds from sale of New Mexico properties | — | — | — | — | — | — | $0 | $3.9m | ($144k) | $0 | — | |
| Insurance proceeds received for damage to oil and natural gas properties | — | — | — | — | — | — | — | $0 | $0 | $260k | — | |
| Proceeds from revolving line of credit | $7.0m | $0 | $39.5m | $327.0m | $26.5m | $60.1m | $636.0m | $225.0m | $130.0m | $231.8m | — | |
| Payments on revolving line of credit | ($52.9m) | $0 | $0 | $0 | ($80.0m) | ($83.2m) | ($511.0m) | ($215.0m) | ($170.0m) | ($196.8m) | — | |
| Payments for taxes withheld on vested restricted shares, net | — | — | — | — | $0 | ($385k) | ($521k) | ($520k) | ($919k) | ($1.2m) | — | |
| Proceeds from notes payable | — | — | — | — | $0 | $1.3m | $1.3m | $1.6m | $1.6m | $1.6m | — | |
| Payments on notes payable | — | — | — | — | $0 | ($711k) | ($1.4m) | ($1.6m) | ($1.6m) | ($1.6m) | — | |
| Payment of deferred financing costs | — | $0 | $0 | ($3.8m) | ($355k) | ($105k) | ($18.9m) | ($52k) | ($88k) | ($5.6m) | — | |
| Reduction of financing lease liabilities | — | $0 | $0 | ($153k) | ($283k) | ($326k) | ($495k) | ($776k) | ($954k) | ($484k) | — | |
| Asset retirement obligation incurred during development | $309k | $1.3m | $1.3m | $632k | $99k | $171k | $353k | $440k | $696k | $90k | — | |
| Asset retirement obligation acquired | $0 | $0 | $2.6m | $40k | $0 | $663k | $14.5m | $2.1m | $0 | $2.8m | — | |
| Asset retirement obligation revision of estimate | — | — | $88k | — | $34k | $435k | $0 | $54k | $134k | ($78k) | — | |
| Asset retirement obligation sold | — | — | — | — | $0 | ($2.9m) | $0 | ($5.3m) | ($3.2m) | ($65k) | — | |
| Operating lease assets obtained in exchange for new operating lease liability | — | $0 | $0 | $2.3m | $824k | $840k | $755k | $1.7m | $0 | $0 | — | |
| Financing lease assets obtained in exchange for new financing lease liability, net | — | $0 | $0 | $859k | $0 | $0 | $952k | $895k | $738k | $708k | — | |
| Change in capitalized expenditures attributable to drilling projects financed through current liabilities | — | — | — | $15.2m | $1.4m | $309k | $9.2m | ($2.2m) | ($3.9m) | $1.0m | — | |
| Cash paid | — | $0 | $0 | $276.1m | $0 | $0 | $121.4m | $42.5m | $0 | $63.6m | — | |
| Deposit in escrow | — | — | — | — | $0 | $0 | $46.5m | $7.5m | $0 | $5.0m | — | |
| Interest from escrow deposit | — | — | — | — | — | $0 | $0 | $2k | $0 | $0 | — | |
| Direct transaction costs | — | — | — | — | $0 | $0 | $9.2m | $1.4m | $0 | $2.6m | — | |
| Cash paid for fixed assets acquired | — | — | — | — | — | — | — | $0 | $0 | ($34k) | — | |
| Purchase price adjustments paid to third parties | — | — | — | — | — | — | — | $0 | $0 | $1.4m | — | |
| Post-close adjustments | — | — | — | — | — | $0 | $0 | ($4.1m) | $0 | ($706k) | — | |
| Payment of deferred cash payment | — | — | — | — | — | $0 | $0 | $30.0m | $0 | $10.0m | — | |
| Payment of post-close settlement | — | — | — | — | — | $0 | $0 | $3.5m | $0 | $0 | — | |
| Payment for acquisition | — | — | — | — | $0 | $0 | $177.8m | $80.7m | $0 | $81.9m | — | |
| Assumption of suspense liability | — | — | — | — | $0 | $0 | $1.7m | $677k | $0 | $459k | — | |
| Assumption of ad valorem tax liability | — | — | — | — | — | $0 | $0 | $234k | $0 | $0 | — | |
| Assumption of asset retirement obligation | — | — | — | — | $0 | $0 | $14.5m | $2.1m | $0 | $2.6m | — | |
| Deferred cash payment at fair value | — | — | — | — | $0 | $0 | $14.8m | $14.7m | $0 | $9.4m | — | |
| Cash Flow From Continuing Financing Activities | — | — | — | — | — | — | $113.2m | $21.0m | ($42.0m) | $27.7m | ($24.3m) | |
| Cash Flow From Continuing Investing Activities | — | — | — | — | — | — | ($308.9m) | ($222.6m) | ($150.9m) | ($179.5m) | ($130.4m) | |
| Change In Account Payable | — | — | — | — | — | — | $50.8m | ($1.5m) | ($5.1m) | $475k | $17.1m | |
| Change In Cash Supplemental As Reported | — | — | — | — | — | — | $1.3m | ($3.4m) | $1.6m | ($963k) | — | |
| Change In Payable | — | — | — | — | — | — | $50.8m | ($1.5m) | ($5.1m) | $475k | $17.1m | |
| Change In Prepaid Assets | — | — | — | — | — | — | ($1.2m) | $227k | $94k | ($41k) | ($479k) | |
| Changes In Cash | — | — | — | — | — | — | $1.3m | ($3.4m) | $1.6m | ($963k) | $1.1m | |
| End Cash Position | — | — | — | — | — | — | $3.7m | $296k | $1.9m | $903k | $1.1m | |
| Excess Tax Benefit From Stock Based Compensation | — | — | — | — | — | — | ($312k) | $478k | $104k | $31k | $83k | |
| Financing Cash Flow | — | — | — | — | — | — | $113.2m |
$21.0m
-81.46%
|
($42.0m)
-300.12%
|
$27.7m
+165.93%
|
($24.3m)
-187.88%
|
|
| Free Cash Flow | — | — | — | — | — | — | $65.8m | $43.0m | $37.9m | ($28.9m) | $20.3m | |
| Gain Loss On Investment Securities | — | — | — | — | — | — | $21.5m | ($2.8m) | $2.4m | ($31.7m) | $40.6m | |
| Investing Cash Flow | — | — | — | — | — | — | ($308.9m) | ($222.6m) | ($150.9m) | ($179.5m) | ($130.4m) | |
| Net Business Purchase And Sale | — | — | — | — | — | — | ($177.8m) | ($80.7m) | $0 | $0 | $70.9m | |
| Net PPE Purchase And Sale | — | — | — | — | — | — | ($131.1m) | ($141.8m) | ($150.9m) | ($179.8m) | ($130.6m) | |
| Operating Gains Losses | — | — | — | — | — | — | $21.5m | ($2.8m) | $2.3m | ($32.1m) | $40.3m | |
| Other Non Cash Items | — | — | — | — | — | — | ($61.6m) | ($4.6m) | ($433k) | $10.5m | — | |
| Proceeds From Stock Option Exercised | — | — | — | — | — | $200k | $0 | $0 | — | — | ($12.3m) | |
| Purchase Of Business | — | — | — | — | — | — | ($177.8m) | ($80.7m) | $0 | $0 | $70.9m | |
| Purchase Of PPE | — | — | — | — | — | — | ($131.2m) | ($155.2m) | ($156.5m) | ($179.8m) | ($135.5m) | |
| Sale Of PPE | — | — | — | — | — | — | $158k | $13.4m | $5.6m | $17k | $5.0m | |
| Stock Based Compensation | — | — | — | — | — | — | $7.2m | $8.8m | $5.5m | $6.1m | $6.8m |