HighPeak Energy, Inc. HPK
HighPeak Energy, Inc., a Delaware corporation formed on October 29, 2019, is an independent crude oil and natural gas exploration and production company that explores for, develops and produces crude oil, NGL and natural gas in the Permian Basin in West Texas, more specifically, the Midland Basin primarily in Howard and Borden Counties, Texas, and to a lesser extent Scurry and Mitchell Counties, which lie within the northeastern part of the crude oil-rich Midland Basin. Our acreage is composed of two core areas, Flat Top primarily in the northern portion of Howard County extending into southern Borden County, southwest Scurry County and northwest Mitchell County and Signal Peak in the southern portion of Howard County.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $863.4M | $1.12B | $1.13B | $755.7M | $220.1M | — | $8.1M | — |
| SG&A | $25.3M | $20.4M | $16.6M | $12.5M | $8.9M | — | $8.7M | — |
| Total operating expenses | $710.5M | $776.0M | $696.4M | $333.1M | $118.3M | — | $19.7M | — |
| Operating income | $150.0M | $337.4M | $426.5M | $422.6M | $101.7M | — | -$11.6M | — |
| Interest expense | $147.1M | $168.7M | $147.9M | $50.6M | $2.5M | — | — | — |
| Pre-tax income | $26.2M | $130.9M | $281.8M | $312.2M | $72.5M | — | -$11.6M | — |
| Income tax | $7.2M | $35.9M | $65.9M | $75.4M | $16.9M | — | — | — |
| Net income | $18.96B | $95.07B | $215.87B | $236.9M | $55.6M | — | -$11.6M | — |
| EPS, basic | 0.13 | 0.69 | 1.64 | 2.04 | 0.55 | — | — | — |
| EPS, diluted | 0.14 | 0.67 | 1.58 | 1.93 | 0.54 | — | — | — |
| Shares, diluted (wtd. avg.) | $125.3M | $129.2M | $123.0M | $111.2M | $94.8M | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $162.1M | $86.6M | $194.5M | $30.5M | $34.9M | $86.5M | $22.7M | $894.0K |
| Receivables | $55.5M | $85.2M | $94.6M | $96.6M | $39.4M | $3.0M | $3.4M | — |
| Inventory | $7.6M | $11.0M | $7.3M | $13.3M | $3.3M | $121.0K | $184.0K | — |
| Total current assets | $259.9M | $195.0M | $328.8M | $144.5M | $87.0M | $89.5M | $92.0M | — |
| Property, plant and equipment | $3.0M | $3.2M | $3.6M | $3.6M | $1.6M | $436.0K | $1.1M | — |
| Total assets | $3.21B | $3.06B | $3.08B | $2.28B | $819.0M | $542.0M | $497.9M | — |
| Accounts payable | $230.3M | $284.6M | $287.4M | $266.1M | $103.0M | $22.4M | $31.0M | — |
| Short-term debt | $60.0M | $120.0M | $120.0M | $0 | $0 | $0 | — | — |
| Total current liabilities | $230.3M | $284.6M | $287.4M | $266.1M | $103.0M | $28.4M | $31.0M | — |
| Long-term debt | $1.13B | $928.4M | $1.03B | $704.3M | $97.9M | $0 | — | — |
| Retained earnings | $432.5M | $435.8M | $363.3M | $160.7M | -$64.4M | -$90.8M | -$5.7M | — |
| Total equity | $1.59B | $1.60B | $1.55B | $1.17B | $553.1M | $474.2M | — | — |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $511.6M | $690.4M | $756.4M | $504.0M | $147.0M | — | -$772.0K | — |
| Depreciation and amortisation | $421.8M | $500.8M | $424.4M | $177.7M | $65.2M | — | $4.3M | — |
| Stock-based compensation | $619.0K | $12.7M | $26.0M | $33.4M | $6.7M | — | — | — |
| Investing cash flow | -$515.3M | -$620.8M | -$1.13B | -$1.18B | -$250.4M | — | -$51.4M | — |
| Financing cash flow | $79.2M | -$177.4M | $533.6M | $674.0M | $118.7M | — | $74.0M | — |
| Dividends paid | $20.9M | $20.1M | $11.9M | $10.4M | $9.3M | — | — | — |
| Buybacks | $0 | $35.2M | $0 | $0 | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001437749-26-014193.
Others in SIC 1381
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| NE | Noble Corp plc | $7.28B | 33.8x | 7.4% |
| RIG | Transocean Ltd. | $6.53B | — | 12.5% |
| VAL | Valaris Ltd | $6.02B | 6.3x | 24.0% |
| PTEN | PATTERSON UTI ENERGY INC | $4.74B | — | -9.8% |
| HP | Helmerich & Payne, Inc. | $4.43B | — | 34.0% |
| SDRL | Seadrill Ltd | $3.07B | — | 7.9% |
| NBR | NABORS INDUSTRIES LTD | $1.45B | 5.2x | 8.7% |
| BTE | BAYTEX ENERGY CORP. | — | — | — |