HighPeak Energy, Inc.
HPK Nasdaq Drilling Oil & Gas Wells Financials FY2019–FY2025
Last close · Oct 23, 2026
$11.57
3.2%
Revenue
Total sales reported in the income statement.
$863M
22.7%
vs prior year
Operating margin
Operating income as a share of revenue.
17.4%
12.8 pts
Net income
Profit after all expenses, interest and tax.
$19.0M
80.1%
Free cash flow
Cash from operations minus capital spending.
—
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
4.1%
5.4 pts
Market cap
Last close times the latest diluted share count, so it is approximate.
$1.5B
Oct 23 close
P/E
Last close divided by diluted earnings per share over the last four quarters.
—
On −$0.74 EPS (TTM)
What HighPeak Energy, Inc. does
No business description yet.
- Legal name
- HighPeak Energy, Inc.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Mar 11, 2026
- Accession · CIK
- 0001437749-26-007770
0001792849
Revenue and margins
HighPeak Energy, Inc. had $863M of revenue in fiscal 2025, down 22.7% on the year before.
FY19
Revenue $8.1M
FY21
Revenue —
FY22
Revenue $756M
FY23
Revenue $1.1B
FY24
Revenue $1.1B
FY25
Revenue $863M
Q3 '23
Revenue $346M
Q4 '23
Revenue $321M
Q1 '24
Revenue $288M
Q2 '24
Revenue $275M
Q3 '24
Revenue $272M
Q4 '24
Revenue $283M
Q1 '25
Revenue $272M
Q2 '25
Revenue $216M
Q3 '25
Revenue $189M
Q4 '25
Revenue $217M
Q1 '26
Revenue $216M
Q2 '26
Revenue $272M
FY19
Gross —
Operating −142.7%
Net −142.7%
FCF —
FY21
Gross —
Operating —
Net —
FCF —
FY22
Gross —
Operating 55.9%
Net 31.3%
FCF —
FY23
Gross —
Operating 37.7%
Net 19.1%
FCF —
FY24
Gross —
Operating 30.2%
Net 8.5%
FCF —
FY25
Gross —
Operating 17.4%
Net 2.2%
FCF —
Gross
Operating
Net
FCF
Q3 '23
Gross —
Operating 42.3%
Net 11.2%
FCF —
Q4 '23
Gross —
Operating 33.3%
Net 29.6%
FCF —
Q1 '24
Gross —
Operating 35.8%
Net 2.2%
FCF —
Q2 '24
Gross —
Operating 31.7%
Net 10.8%
FCF —
Q3 '24
Gross —
Operating 27.0%
Net 18.4%
FCF —
Q4 '24
Gross —
Operating 26.1%
Net 3.2%
FCF —
Q1 '25
Gross —
Operating 33.2%
Net 13.3%
FCF —
Q2 '25
Gross —
Operating 20.1%
Net 12.1%
FCF —
Q3 '25
Gross —
Operating 17.3%
Net −9.7%
FCF —
Q4 '25
Gross —
Operating −7.6%
Net −11.6%
FCF —
Q1 '26
Gross —
Operating 16.7%
Net −59.0%
FCF —
Q2 '26
Gross —
Operating 29.5%
Net 30.2%
FCF —
Gross
Operating
Net
FCF
Net income and earnings per share
Loss periods are shown in red.
FY19
Net income −$11.6M
FY21
Net income —
FY22
Net income $237M
FY23
Net income $216M
FY24
Net income $95.1M
FY25
Net income $19.0M
Q3 '23
Net income $38.8M
Q4 '23
Net income $95.0M
Q1 '24
Net income $6.4M
Q2 '24
Net income $29.7M
Q3 '24
Net income $49.9M
Q4 '24
Net income $9.0M
Q1 '25
Net income $36.3M
Q2 '25
Net income $26.2M
Q3 '25
Net income −$18.3M
Q4 '25
Net income −$25.2M
Q1 '26
Net income −$127M
Q2 '26
Net income $82.3M
FY19
Diluted EPS —
FY21
Diluted EPS —
FY22
Diluted EPS $1.93
FY23
Diluted EPS $1.58
FY24
Diluted EPS $0.67
FY25
Diluted EPS $0.14
Q3 '23
Diluted EPS $0.28
Q4 '23
Diluted EPS $0.66
Q1 '24
Diluted EPS $0.05
Q2 '24
Diluted EPS $0.21
Q3 '24
Diluted EPS $0.35
Q4 '24
Diluted EPS $0.06
Q1 '25
Diluted EPS $0.26
Q2 '25
Diluted EPS $0.19
Q3 '25
Diluted EPS −$0.15
Q4 '25
Diluted EPS −$0.16
Q1 '26
Diluted EPS −$1.02
Q2 '26
Diluted EPS $0.59
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY19
Return on capital —
Return on equity —
Return on assets −2.3%
FY21
Return on capital —
Return on equity —
Return on assets —
FY22
Return on capital 17.4%
Return on equity 27.5%
Return on assets 15.3%
FY23
Return on capital 13.0%
Return on equity 15.9%
Return on assets 8.1%
FY24
Return on capital 9.6%
Return on equity 6.0%
Return on assets 3.1%
FY25
Return on capital 4.1%
Return on equity 1.2%
Return on assets 0.6%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was — in fiscal 2025, — of revenue. Cash from operations minus capital spending.
FY19
Free cash flow —
FY21
Free cash flow —
FY22
Free cash flow —
FY23
Free cash flow —
FY24
Free cash flow —
FY25
Free cash flow —
FY19
Cash from operations −$0.8M
Capital spending —
FY21
Cash from operations —
Capital spending —
FY22
Cash from operations $504M
Capital spending —
FY23
Cash from operations $756M
Capital spending —
FY24
Cash from operations $690M
Capital spending —
FY25
Cash from operations $512M
Capital spending —
Cash from operations
Capital spending
Q3 '23
Cash from operations $158M
Capital spending —
Q4 '23
Cash from operations $235M
Capital spending —
Q1 '24
Cash from operations $171M
Capital spending —
Q2 '24
Cash from operations $202M
Capital spending —
Q3 '24
Cash from operations $177M
Capital spending —
Q4 '24
Cash from operations $140M
Capital spending —
Q1 '25
Cash from operations $157M
Capital spending —
Q2 '25
Cash from operations $141M
Capital spending —
Q3 '25
Cash from operations $120M
Capital spending —
Q4 '25
Cash from operations $93.1M
Capital spending —
Q1 '26
Cash from operations $54.2M
Capital spending —
Q2 '26
Cash from operations $126M
Capital spending —
Cash from operations
Capital spending
Dividends, buybacks and share count
HighPeak Energy, Inc. returned $20.9M to shareholders in fiscal 2025. The diluted share count fell 3.0%.
FY19
Dividends —
Buybacks —
FY21
Dividends —
Buybacks —
FY22
Dividends $10.4M
Buybacks $0.0M
FY23
Dividends $11.9M
Buybacks $0.0M
FY24
Dividends $20.1M
Buybacks $35.2M
FY25
Dividends $20.9M
Buybacks $0.0M
Dividends
Buybacks
Q3 '23
Dividends $3.2M
Buybacks $0.0M
Q4 '23
Dividends $3.2M
Buybacks $0.0M
Q1 '24
Dividends $5.1M
Buybacks $8.8M
Q2 '24
Dividends $5.0M
Buybacks $5.8M
Q3 '24
Dividends $5.0M
Buybacks $12.7M
Q4 '24
Dividends $5.0M
Buybacks $7.9M
Q1 '25
Dividends $5.0M
Buybacks $0.0M
Q2 '25
Dividends $5.0M
Buybacks $0.0M
Q3 '25
Dividends $5.6M
Buybacks $0.0M
Q4 '25
Dividends $5.4M
Buybacks $0.0M
Q1 '26
Dividends $0.0M
Buybacks —
Q2 '26
Dividends $0.0M
Buybacks —
Dividends
Buybacks
FY19
Diluted shares —
FY21
Diluted shares —
FY22
Diluted shares 0.11B
FY23
Diluted shares 0.12B
FY24
Diluted shares 0.13B
FY25
Diluted shares 0.13B
Balance sheet
Cash, debt and the ratios that show how comfortably HighPeak Energy, Inc. can carry it.
FY19
Cash $22.7M
Debt —
FY21
Cash $34.9M
Debt $97.9M
FY22
Cash $30.5M
Debt $704M
FY23
Cash $195M
Debt $1.2B
FY24
Cash $86.6M
Debt $1.0B
FY25
Cash $162M
Debt $1.2B
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $34.9M | $30.5M | $195M | $86.6M | $162M |
| Debt incl. finance leases | $97.9M | $704M | $1.2B | $1.0B | $1.2B |
| Net debt / EBITDA | — | 1.1x | 1.1x | 1.1x | 1.8x |
| Debt / equity | 0.2x | 0.6x | 0.7x | 0.7x | 0.7x |
| Interest coverage | — | 8.3x | 2.9x | 2.0x | 1.0x |
| Current ratio | 0.8x | 0.5x | 1.1x | 0.7x | 1.1x |
| Quick ratio | 0.8x | 0.5x | 1.1x | 0.6x | 1.1x |
| Total assets | $819M | $2.3B | $3.1B | $3.1B | $3.2B |
| Total liabilities | $266M | $1.1B | $1.5B | $1.5B | $1.6B |
| Shareholders' equity | $553M | $1.2B | $1.6B | $1.6B | $1.6B |
| Net debt (− = net cash) | $63.1M | $674M | $956M | $962M | $1.0B |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. “Plan” marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY19 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Net income is positive | ✕ | ✓ | ✓ | ✓ | ✓ |
| Cash from operations is positive | ✕ | ✓ | ✓ | ✓ | ✓ |
| Return on assets rose | — | — | ✕ | ✕ | ✕ |
| Cash from operations exceeds net income | ✓ | ✓ | ✓ | ✓ | ✓ |
| Debt fell relative to assets | — | ✕ | ✕ | ✓ | ✕ |
| Current ratio rose | — | ✕ | ✓ | ✕ | ✓ |
| Share count didn't rise | — | — | ✕ | ✕ | ✓ |
| Gross margin rose | — | — | — | — | — |
| Revenue rose relative to assets | — | — | ✓ | ✕ | ✕ |
| F-score | — / 3 | — / 5 | 5 / 8 | 4 / 8 | 5 / 8 |
| Accruals ratio | −2.2% | −17.2% | −20.2% | −19.4% | −15.7% |
| Altman Z'' | — | 2.23 | 2.47 | 2.16 | 1.85 |
6 years of figures
Amounts in USD. Hover a ratio’s name for its definition.
| Fiscal year | FY19 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| Revenue | $8.1M | — | $756M | $1.1B | $1.1B | $863M |
| Operating income | −$11.6M | — | $423M | $426M | $337M | $150M |
| Interest expense | — | — | $50.6M | $148M | $169M | $147M |
| Pretax income | −$11.6M | — | $312M | $282M | $131M | $26.2M |
| Income tax | — | — | $75.4M | $65.9M | $35.9M | $7.2M |
| Net income | −$11.6M | — | $237M | $216M | $95.1M | $19.0M |
| Net income to common | — | — | $214M | $194M | $85.9M | $16.9M |
| Diluted EPS | — | — | $1.93 | $1.58 | $0.67 | $0.14 |
| Diluted shares | — | — | 0.11B | 0.12B | 0.13B | 0.13B |
| Cash flow | ||||||
| Cash from operations | −$0.8M | — | $504M | $756M | $690M | $512M |
| Depreciation and amortization | $4.3M | — | $178M | $424M | $501M | $422M |
| Stock-based compensation | — | — | $33.4M | $26.0M | $12.7M | $0.6M |
| Share buybacks | — | — | $0.0M | $0.0M | $35.2M | $0.0M |
| Dividends paid | — | — | $10.4M | $11.9M | $20.1M | $20.9M |
| Dividends and buybacks | — | — | $10.4M | $11.9M | $55.2M | $20.9M |
| Balance sheet | ||||||
| Cash and short-term investments | $22.7M | $34.9M | $30.5M | $195M | $86.6M | $162M |
| Total debt | — | $97.9M | $704M | $1.2B | $1.0B | $1.2B |
| Current assets | $92.0M | $87.0M | $145M | $329M | $195M | $260M |
| Current liabilities | $31.0M | $103M | $266M | $287M | $285M | $230M |
| Inventory | $0.2M | $3.3M | $13.3M | $7.3M | $11.0M | $7.6M |
| Property and equipment, net | $1.1M | $1.6M | $3.6M | $3.6M | $3.2M | $3.0M |
| Total assets | $498M | $819M | $2.3B | $3.1B | $3.1B | $3.2B |
| Total liabilities | — | $266M | $1.1B | $1.5B | $1.5B | $1.6B |
| Preferred stock | — | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Shareholders' equity | — | $553M | $1.2B | $1.6B | $1.6B | $1.6B |
| Margins | ||||||
| Operating margin | −142.7% | — | 55.9% | 37.7% | 30.2% | 17.4% |
| EBITDA margin | −90.1% | — | 79.4% | 75.2% | 75.0% | 66.2% |
| Net margin | −142.7% | — | 31.3% | 19.1% | 8.5% | 2.2% |
| Returns | ||||||
| Return on capital | — | — | 17.4% | 13.0% | 9.6% | 4.1% |
| Return on capital employed | −2.5% | — | 21.0% | 15.3% | 12.1% | 5.0% |
| Return on equity | — | — | 27.5% | 15.9% | 6.0% | 1.2% |
| Return on assets | −2.3% | — | 15.3% | 8.1% | 3.1% | 0.6% |
| Return on tangible equity | — | — | 18.3% | 12.5% | 5.4% | 1.1% |
| Growth | ||||||
| Revenue growth | — | — | — | 49.7% | −1.2% | −22.7% |
| Net income growth | — | — | — | −8.9% | −56.0% | −80.1% |
| EPS growth | — | — | — | −18.1% | −57.6% | −79.1% |
| Share count change | — | — | — | 10.7% | 5.0% | −3.0% |
| Financial health | ||||||
| Net debt / EBITDA | — | — | 1.1x | 1.1x | 1.1x | 1.8x |
| Debt / equity | — | 0.2x | 0.6x | 0.7x | 0.7x | 0.7x |
| Interest coverage | — | — | 8.3x | 2.9x | 2.0x | 1.0x |
| Current ratio | 3.0x | 0.8x | 0.5x | 1.1x | 0.7x | 1.1x |
| Quick ratio | 3.0x | 0.8x | 0.5x | 1.1x | 0.6x | 1.1x |
| Capital allocation | ||||||
| Stock comp / revenue | — | — | 4.4% | 2.3% | 1.1% | 0.1% |
| Quality scores | ||||||
| Piotroski F-score | — | — | — | 5.0 | 4.0 | 5.0 |
| Altman Z'' | — | — | 2.2 | 2.5 | 2.2 | 1.8 |
| Accruals ratio | −2.2% | — | −17.2% | −20.2% | −19.4% | −15.7% |
Source: SEC EDGAR XBRL filings (CIK 0001792849). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.