Empire Petroleum Corp. (EP) intrinsic value & 10-year financials
Empire Petroleum Corp. (EP) has a Graham intrinsic value of $9.96 per share. At $3.22 on Oct 17, 2026, the stock trades 68% below that value. Over the last 10 fiscal years revenue grew 84.8% a year to $34.2M, with an average return on invested capital of -69.0%.
- Graham intrinsic value
- $9.96
- Share price (Oct 17, 2026)
- $3.22
- Price vs Graham value
- 68% below
- Market cap
- $109.7M
- Revenue (FY2025)
- $34.2M
- Revenue growth (10-yr CAGR)
- 84.8%
- ROIC (10-yr avg)
- -69.0%
- Free cash flow (FY2025)
- —
EP 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $34.2M | -$72.1M | -$2.12 | — | -208.5% | -259.7% |
| FY2024 | $44.0M | -$16.2M | -$0.54 | — | -31.1% | -36.7% |
| FY2023 | $40.1M | -$12.5M | -$0.55 | — | -29.0% | -58.2% |
| FY2022 | $53.2M | $7.1M | $0.30 | — | 16.5% | 91.2% |
| FY2021 | $27.5M | -$18.6M | -$1.27 | — | -1.7% | 332.5% |
| FY2020 | $7.7M | -$16.8M | — | — | -227.5% | 220.2% |
| FY2019 | $5.9M | -$6.7M | — | -$606.8K | -105.0% | -358.0% |
| FY2018 | $465.5K | -$1.0M | — | — | -196.8% | -108.1% |
| FY2017 | $0 | -$830.1K | — | — | — | -386.5% |
| FY2016 | $0 | -$381.9K | — | — | — | -126.7% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
EMPIRE PETROLEUM CORP revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
EMPIRE PETROLEUM CORP has historically struggled to out-earn its cost of capital, averaging just -24.3% ROIC.
EMPIRE PETROLEUM CORP capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, EMPIRE PETROLEUM CORP is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $9.96 per share.