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KOS

Kosmos Energy Ltd.

KOS

Kosmos Energy Ltd. • NYSE
$1.12 ▲ 4.67% (+0.05)
Market Cap $535.73 M
52w High $4.01
52w Low $1.04
Dividend Yield 0%
P/E -1.6
Volume 8.91M
Outstanding Shares 478.33M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $311.229M ▼ $67.834M ▲ $-124.299M ▼ -39.938% ▼ $-0.26 ▼ $84.602M ▼
Q2-2025 $392.635M ▲ $23.143M ▼ $-87.74M ▲ -22.346% ▲ $-0.18 ▲ $149.251M ▲
Q1-2025 $290.135M ▼ $35.924M ▼ $-110.606M ▼ -38.122% ▼ $-0.23 ▼ $88.616M ▼
Q4-2024 $397.561M ▼ $103.35M ▲ $-6.579M ▼ -1.655% ▼ $-0.01 ▼ $130.986M ▼
Q3-2024 $407.794M $38.009M $44.974M 11.029% $0.1 $252.839M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $64.032M ▲ $5.09B ▼ $4.191B ▼ $898.787M ▼
Q2-2025 $51.694M ▲ $5.213B ▼ $4.195B ▲ $1.018B ▼
Q1-2025 $49.791M ▼ $5.269B ▼ $4.171B ▲ $1.098B ▼
Q4-2024 $84.972M ▲ $5.309B ▼ $4.109B ▼ $1.2B ▲
Q3-2024 $51.581M $5.471B $4.274B $1.197B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-124.299M ▼ $-27.568M ▼ $-71.367M ▲ $125M ▲ $26.065M ▲ $-27.568M ▼
Q2-2025 $-87.74M ▲ $127.168M ▲ $-125.264M ▲ $-1K ▼ $1.903M ▲ $44.647M ▲
Q1-2025 $-110.606M ▼ $-888K ▼ $-134.293M ▲ $100M ▲ $-35.181M ▼ $-91.133M ▼
Q4-2024 $-6.579M ▼ $175.747M ▲ $-191.243M ▲ $48.887M ▼ $33.391M ▲ $14.326M ▲
Q3-2024 $37K $6.282M $-219.245M $90.731M $-122.232M $-212.963M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Equatorial Guinea Segment
Equatorial Guinea Segment
 $70.00M ▲$30.00M ▼$60.00M ▲$40.00M ▼
Ghana Segment
Ghana Segment
 $220.00M ▲$150.00M ▼$200.00M ▲$140.00M ▼
Mauritania And Senegal
Mauritania And Senegal
 $0 ▲$0 ▲$20.00M ▲$40.00M ▲
US Gulf Of Mexico
US Gulf Of Mexico
 $100.00M ▲$100.00M ▲$100.00M ▲$90.00M ▼

Five-Year Company Overview

Income Statement

Income Statement Kosmos has moved from loss-making in 2020–2021 to consistent profitability over the last three years, which is a clear positive. Revenue peaked during the 2022 commodity boom and has eased since, suggesting some pressure from softer prices or volumes. Profit margins have narrowed from their best levels but remain healthy enough to support positive earnings. Operating profit and cash earnings (EBITDA) are fairly steady, but net income and per‑share earnings have drifted down slightly, indicating that the company is profitable but not currently in a strong growth phase. Overall, this is the profile of a cyclical producer that has stabilized its earnings but remains very sensitive to commodity prices and project performance.

Balance Sheet

Balance Sheet The balance sheet shows a capital‑intensive business with meaningful leverage. Total assets have grown over time, reflecting continued investment in fields and large projects, while shareholders’ equity has been rebuilt from a very thin base, which is encouraging but still leaves only a modest equity cushion. Debt remains high and has crept up again recently, so financial risk is still a key consideration. Cash on hand is relatively small versus the size of the business and its obligations, which means Kosmos relies heavily on ongoing cash generation and access to funding. In short, the asset base is sizable and improving, but leverage and liquidity need continued attention.

Cash Flow

Cash Flow Kosmos generates solid cash flow from operations, which is a strength, but its heavy investment program means free cash flow has often been negative. The company spends heavily on capital projects, especially in recent years, as it develops major oil and gas fields and LNG infrastructure. This pattern—strong operating inflows but cash outflows after investment—fits a growth and project‑build phase. It also means the business has depended on borrowing or other financing to fund expansion. The key question going forward is whether large projects start to move the company into a more consistently cash‑generative phase once spending normalizes.

Competitive Edge

Competitive Edge Kosmos positions itself as a specialist in deepwater exploration and production along the Atlantic Margin. Its edge comes from strong geoscience capabilities, a track record of opening new basins, and the ability to replicate exploration strategies across similar geological settings. Long‑life assets in relatively stable regions, combined with large partners such as BP, give it scale and technical support that many smaller peers lack. At the same time, the company is exposed to above‑average project execution risk, political and regulatory uncertainty in some host countries, and the natural volatility of oil and gas prices. Its focused geographic footprint creates expertise but also concentration risk. Overall, Kosmos has a credible niche and strong partnerships, but its competitive strength depends on continued exploration success and reliable project delivery.

Innovation and R&D

Innovation and R&D Kosmos does not run large, lab‑style R&D programs but has built its differentiation around applied technical innovation. It emphasizes advanced seismic interpretation, deepwater drilling know‑how, and infrastructure‑led exploration that ties smaller finds back to existing facilities, helping control costs and speed up production. The company is also leaning into natural gas and LNG as a strategic shift, with the Greater Tortue Ahmeyim project as a flagship example. Looking ahead, areas to watch include how effectively it ramps up and potentially expands GTA, whether it can continue to find new discoveries near existing hubs, and how quickly it adopts digital tools and subsea technologies to improve efficiency. There is also optionality around future carbon capture or other transition‑related projects, though these are more long‑term possibilities than near‑term drivers.

Summary

Kosmos has transitioned from loss‑making to consistently profitable, with a stronger income statement and a growing asset base, but it remains a leveraged, capital‑intensive business. Its operating performance shows resilience, yet earnings have softened somewhat since the 2022 peak, and free cash flow is still weighed down by heavy project spending. The company’s main strengths lie in its deepwater technical expertise, basin‑opening track record, long‑life reserves, and strong partnerships, particularly in LNG. Key risks center on high debt, relatively thin liquidity, dependence on large, complex projects, and exposure to commodity prices and host‑country dynamics. Overall, Kosmos looks like a technically capable growth‑oriented producer in the midst of a major project build‑out, with clear upside potential if projects ramp smoothly, but also meaningful financial and execution risks that need to be monitored closely.

NEWS

November 3, 2025 · 2:00 AM UTC

Kosmos Energy Announces Third Quarter 2025 Results

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October 7, 2025 · 2:00 AM UTC

Kosmos Energy to Host Third Quarter 2025 Results and Webcast on November 03, 2025

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October 1, 2025 · 2:00 AM UTC

Kosmos Energy Provides Update on Financial Progress

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September 25, 2025 · 8:00 AM UTC

Kosmos Energy Enters Into Senior Secured Term Loan Facility With Shell for up to $250 Million

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