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Mammoth Energy Services, Inc.

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Mammoth Energy Services, Inc. • NASDAQ
$1.84 ▲ 2.22% (+0.04)
Market Cap $88.68 M
52w High $3.52
52w Low $1.68
Dividend Yield 0%
P/E -1.05
Volume 29.14K
Outstanding Shares 48.19M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $14.801M ▼ $5.16M ▼ $-12.615M ▲ -85.231% ▲ $-0.26 ▲ $-7.162M ▲
Q2-2025 $16.409M ▼ $5.339M ▼ $-49.925M ▼ -304.254% ▼ $-1.04 ▼ $-33.795M ▼
Q1-2025 $62.465M ▲ $6.541M ▼ $-537K ▲ -0.86% ▲ $-0.011 ▲ $6.364M ▲
Q4-2024 $53.2M ▲ $9.86M ▲ $-15.474M ▲ -29.086% ▲ $-0.32 ▲ $-3.457M ▲
Q3-2024 $17.052M $6.78M $-24.042M -140.992% $-0.5 $-4.077M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $140.361M ▼ $336.753M ▼ $87.51M ▼ $249.243M ▼
Q2-2025 $157.303M ▲ $364.194M ▼ $102.156M ▼ $262.038M ▲
Q1-2025 $78.251M ▼ $374.354M ▼ $121.843M ▼ $252.511M ▼
Q4-2024 $82.326M ▲ $402.867M ▼ $150.049M ▼ $252.818M ▼
Q3-2024 $6.165M $442.978M $174.3M $268.678M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-12.615M ▲ $730K ▲ $-30.273M ▼ $-121K ▲ $-29.616M ▼ $-16.569M ▲
Q2-2025 $-36.733M ▼ $-12.524M ▼ $91.859M ▲ $-303K ▲ $79.14M ▲ $-32.618M ▼
Q1-2025 $-537K ▲ $2.711M ▼ $-2.993M ▲ $-3.798M ▲ $-4.075M ▼ $-4.52M ▼
Q4-2024 $-15.48M ▲ $141.416M ▲ $-4.512M ▼ $-60.63M ▼ $76.161M ▲ $135.318M ▲
Q3-2024 $-24.042M $-1.229M $-1.398M $-1.495M $-4.101M $-3.126M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Product
Product
 $10.00M ▲$0 ▼$10.00M ▲$0 ▼
Shortfall Payments
Shortfall Payments
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Over the past several years, Mammoth’s revenue has moved up and down rather than following a clear growth path, and the most recent year shows a noticeable step down from the prior couple of years. Gross profit has stayed positive but thin, which means pricing power and utilization have not been strong enough to fully cover the company’s cost base. Operating income has been negative in every year shown, signaling a business that has not yet found a consistently profitable scale or mix of services. Net results hovered around break-even in the middle of the period, but the latest year slipped back into a clearly larger loss, likely reflecting weaker activity and possibly some non‑recurring items. Overall, the income statement tells the story of a company in transition that has struggled to turn its operations into steady, durable profits.

Balance Sheet

Balance Sheet Historically, Mammoth’s asset base has slowly shrunk, reflecting either asset sales, write‑downs, or a smaller operating footprint. Cash levels were relatively modest during most of the period, and debt, while not excessive, took up a visible share of the capital structure. Shareholders’ equity has trended downward, signaling that cumulative losses have been eating into the company’s capital over time. However, the recent large asset sale and settlement discussed in the narrative have transformed this picture: the company is now effectively debt‑free with a sizeable cash cushion, which is not yet visible in the five‑year table but is very important to its current profile. That shift means the balance sheet has turned from a constraint into a key source of strength and strategic flexibility.

Cash Flow

Cash Flow Despite reporting accounting losses in most years, Mammoth has usually produced positive cash from operations, which suggests solid collections from customers and some working capital releases. Free cash flow has also generally been positive, helped by relatively light spending on new equipment and facilities. This indicates that, even in weaker profit years, the business has often generated more cash than it has consumed, although not at a level that would fully offset strategic or cyclical risks. The latest year shows particularly strong cash generation relative to the size of the business, which may include benefits from settlements or working capital rather than purely from recurring operations. The key question is how sustainable this cash flow profile will be once the business mix and capital deployment strategy fully reset after the asset sale.

Competitive Edge

Competitive Edge Mammoth used to lean on a broad, integrated service offering across oilfield, sand, and electric‑grid infrastructure, which gave it some balance between energy cycles and infrastructure work. After selling a major portion of its infrastructure operations, the company is now more concentrated in well completion, pressure pumping, sand supply, and a narrower set of engineering and telecom fiber services. These markets are crowded and price‑sensitive, with competitors that are often larger and similarly equipped, so Mammoth’s moat is more operational than technological. The firm’s new edge is its clean, cash‑rich balance sheet, which allows it to withstand downturns better than highly leveraged peers and to act quickly on opportunities. At the same time, the reduced diversification and dependence on the health of natural gas activity, particularly in Appalachia, leave the competitive position more exposed to commodity cycles and execution risk in new ventures like aircraft leasing.

Innovation and R&D

Innovation and R&D Mammoth is not a traditional R&D‑heavy company; its innovations are mostly in how it operates and allocates capital rather than in proprietary technology. On the operational side, it is upgrading pressure pumping fleets to more efficient, lower‑emission equipment, which can cut fuel costs and meet tighter environmental expectations, but this is an industry‑wide direction rather than a unique breakthrough. Strategically, the company is reinventing itself from a broad energy and infrastructure provider into a more flexible “industrial and field services” platform, with an eye on supporting areas like data centers, AI‑related infrastructure, and possibly nuclear projects. The move into aircraft leasing is an example of this experimentation—using capital to create a new, more stable income stream outside traditional energy services. The main innovation to watch is how the new leadership team uses the large cash position: whether through disciplined acquisitions, niche expansions, or financial moves like buybacks, the quality of those choices will shape the company far more than any single technology project.

Summary

Mammoth Energy Services is in the middle of a major transformation. Its historical financials show a company that could generate cash but struggled to produce consistent profits, with thin margins and recurring operating losses. The recent asset sale and settlement have flipped the balance sheet from constrained to cash‑rich and debt‑free, giving management much more room to reshape the business. Competitively, Mammoth is moving away from a diversified service model with built‑in balance between energy and infrastructure and toward a more focused, but also more cyclical, mix of well services, specialized infrastructure work, and new ventures like aircraft leasing. The opportunity lies in using its financial strength to build a more resilient, less commodity‑driven portfolio; the main risks lie in execution, the volatility of natural gas markets, and the uncertainty around how successfully it can pivot into new, more stable sources of revenue.

NEWS

October 31, 2025 · 8:00 AM UTC

Mammoth Energy Services, Inc. Announces Third Quarter 2025 Operational and Financial Results

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October 16, 2025 · 4:30 PM UTC

Mammoth Announces Third-Quarter 2025 Conference Call

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