Battalion Oil Corporation (BATL) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-1365.0%

-$10.31

vs $0.82 price

Levered DCF

-$15.25

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

-0.64

Distress zone

Rating

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	-0.5×	-0.44×	-10.45×	8.52×	-5.63×	-0.59×	-0.16×	3.53×
P/B	0.1×	0.16×	0.91×	1.87×	2.5×	1.5×	0.52×	0.13×
P/S	0.11×	0.15×	0.72×	0.44×	0.56×	0.91×	0.74×	0.71×
EV / EBITDA	1.94×	4.85×	3.43×	3.66×	11.67×	-1.85×	-0.3×	2.77×
Gross margin	10.8%	40.9%	45.4%	65.1%	63.2%	27.3%	24.1%	50.9%
Operating margin	-4.0%	-6.1%	8.0%	42.4%	36.2%	-176.6%	-468.2%	40.7%
Net margin	7.2%	-16.4%	-1.4%	5.2%	-9.9%	-154.9%	-467.8%	20.3%
Current ratio	0.9×	0.7×	0.67×	0.53×	0.72×	0.58×	0.67×	0.89×
Debt / equity	0.98×	0.91×	1.13×	2.58×	2.86×	1.87×	0.46×	0.51×
Interest coverage	-0.23×	-0.4×	0.53×	6.45×	12.89×	-39.47×	-27.06×	2.14×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	6.1%	-17.6%	-1.7%	21.9%	-44.5%	-255.3%	-332.0%	3.8%
Return on invested capital	-1.6%	-3.1%	4.3%	42.8%	38.4%	-95.9%	-201.2%	1.6%
Return on assets	2.6%	-7.4%	-0.6%	3.8%	-7.3%	-66.3%	-179.8%	2.2%
Free cash flow yield	-190.8%	-103.7%	-18.3%	-30.2%	9.8%	-38.4%	-196.1%	-534.0%
Earnings yield	63.9%	-112.6%	-1.9%	11.7%	-17.8%	-170.8%	-634.2%	28.6%
Enterprise value	$180.5M	$174.5M	$298.4M	$343.9M	$293M	$298.4M	$298.7M	$727.2M
Net debt / EBITDA	1.74×	4.06×	1.62×	1.97×	5.32×	-1.02×	-0.13×	2.16×
Cash conversion cycle (days)	-5	-0	-37	-87	-41	23	12	-59