Evolution Petroleum Corporation (EPM) 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

-164.2%

-$2.35

vs $3.67 price

Levered DCF

-$0.93

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

1.41

Distress zone

Rating

D+

Overall 1 / 5

Ratios by fiscal year

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

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	-44.66×	140.72×	44.58×	7.69×	5.63×	-9.92×	15.56×	15.33×
P/B	2.09×	2.17×	2.16×	2.89×	2.38×	2.97×	1.25×	2.92×
P/S	1.46×	1.82×	2.04×	2.07×	1.65×	4.97×	3.12×	5.41×
EV / EBITDA	6.73×	7.11×	7.7×	4.25×	3.88×	-9.98×	7.58×	8.02×
Gross margin	15.3%	16.9%	22.1%	43.4%	48.4%	34.1%	35.4%	52.5%
Operating margin	4.0%	4.9%	9.2%	35.1%	41.7%	-63.4%	12.5%	40.8%
Net margin	-2.8%	1.7%	4.8%	27.4%	30.0%	-50.3%	20.1%	35.6%
Current ratio	0.92×	0.81×	1.37×	1.73×	1.2×	2.75×	5.92×	12.78×
Debt / equity	0.94×	0.52×	0.49×	0×	0.28×	0.07×	0×	0×
Interest coverage	-0.9×	1.41×	5.42×	98.5×	79.34×	-201.4×	33.31×	151.33×
Dividend yield	13.4%	10.5%	9.2%	6.1%	6.6%	2.7%	11.6%	5.7%
Payout ratio	-697.5%	1109.8%	393.1%	45.7%	36.2%	-26.4%	180.9%	86.3%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	-4.0%	2.1%	5.0%	38.2%	43.2%	-30.1%	8.0%	19.2%
Return on invested capital	2.4%	2.4%	4.0%	29.1%	30.6%	-22.3%	4.2%	15.5%
Return on assets	-1.4%	0.9%	2.5%	26.5%	22.0%	-21.1%	6.4%	16.1%
Free cash flow yield	-5.4%	7.3%	-15.4%	16.6%	-1.3%	-8.6%	1.4%	7.4%
Earnings yield	-1.9%	0.9%	2.3%	13.2%	18.1%	-10.1%	6.4%	6.6%
Enterprise value	$176.9M	$190.9M	$208.1M	$255.3M	$192.9M	$161.2M	$73M	$202.2M
Net debt / EBITDA	1.93×	1.31×	1.23×	-0.18×	0.26×	0.07×	-2.03×	-1.25×
Cash conversion cycle (days)	-22	-19	0	-7	-9	104	-4	-10