Income StatementBalance SheetCash FlowSegments
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Empire Petroleum Cash Flow Statement

Operating, investing, and financing cash movements

Empire Petroleum generated $6.2B in operating cash flow over the trailing twelve months. After $3.1B in capital expenditures, free cash flow was $3.2B. Free cash flow increased 0.1% year-over-year. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)$6.2BNet Cash From Investing (TTM)-$2.6BNet Cash From Financing (TTM)-$3.8BCapital Expenditures (TTM)$3.1BDepreciation And Amortization (TTM)$2.5BNet Change In Cash (TTM)-$115.0M
Latest FilingQ1 2026
Report Date2026-04-24
Market Cap$99.2M
P/E Ratio0.030
ROE10.71%

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Acquisitions, net of cash acquired—$648.0M$0.0$0.0—$0.0
Capital expenditures$772.0M$766.0M$647.0M$793.0M$820.0M$804.0M
Net cash from investing activities-$771.0M-$1.4B-$625.0M-$663.0M-$477.0M-$803.0M
Dividend Received from Consumer Healthcare JV$60.0M$45.0M$47.0M$177.0M$61.0M$46.0M
Payment for (Proceeds from) Other Investing Activity—$3.0M-$2.0M$13.0M$25.0M-$8.0M
Payments to Acquire Equity Method Investments$28.0M$42.0M$27.0M$34.0M$75.0M$53.0M

Supplemental

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Capital expenditures incurred but not yet paid$12.5M————$133.0M
Interest paid$274.0M$657.0M$269.0M$612.0M$273.0M$623.0M
Income Taxes Paid, Net$7.0M$3.0M$35.0M$5.0M$4.0M-$3.0M

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Change in accounts payable—-$57.0M$4.0M$23.0M$126.0M-$172.0M
Change in accounts receivable—-$45.0M-$22.0M-$8.0M$267.0M-$131.0M
Change in inventories$14.0M$22.0M-$20.0M$3.0M$16.0M$19.0M
Other working capital changes—-$94.0M-$9.0M$28.0M-$40.0M-$67.0M
Deferred income taxes$193.0M$167.0M$160.0M$185.0M$268.0M$281.0M
Depreciation and amortization$596.0M$610.0M$616.0M$609.0M$618.0M$633.0M
Net cash from operating activities$1.5B$1.2B$1.6B$1.4B$1.7B$1.5B
Net income$694.0M$743.0M$742.0M$654.0M$1.0B$1.0B
Change in Interest Payable$181.0M-$206.0M$188.0M-$163.0M—-$192.0M
Distributions of earnings from equity method investees$223.0M$185.0M$212.0M$188.0M$220.0M$150.0M
Gain (Loss) on Sale of Assets and Asset Impairment Charges$0.0$1.0M$1.0M$1.0M$3.0M—
Equity in earnings (losses) of equity method investees$228.0M$220.0M$206.0M$221.0M$249.0M$254.0M
Income and other taxes—-$70.0M$10.0M$79.0M-$34.0M-$58.0M
Deferred revenue-$14.5M$1.3M$1.3M$1.3M$1.3M—
Accrued liabilities—-$24.0M-$6.0M$4.0M—$27.0M
Increase (Decrease) in Other Current Assets$44.0M-$24.0M$10.0M$1.0M$22.0M$56.0M
Pension (Contributions) Net Of Noncash Pension Benefit Expenses-$2.3M$2.5M$2.5M$2.5M$2.5M—
Gain (loss) on mark-to-market of Escrowed Shares-$40.0M-$82.0M$93.0M-$25.0M$37.0M-$86.0M

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Distributions to noncontrolling interests$31.0M$41.0M$37.0M$44.0M$31.0M$37.0M
Dividends paid$642.0M$642.0M$654.0M$654.0M$654.0M$654.0M
Net cash from financing activities-$657.0M$333.0M-$1.1B-$815.0M-$1.2B-$617.0M
Payments Of Debt Issuance Costs$2.0M$3.0M$13.0M$2.0M$2.0M$3.0M
Proceeds from issuances of debt$1.6B$2.9B$3.6B$1.9B$1.6B$1.9B
Other, net$0.0-$10.0M-$2.0M-$26.0M—$7.0M
Repayments of Debt$1.6B$1.8B$4.1B$2.0B$2.1B$1.9B

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow$738.0M$396.0M$1.0B$621.0M$872.0M$687.0M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net increase (decrease) in cash$81.0M$81.0M-$98.0M-$64.0M-$24.0M$71.0M
Leased assets obtained in exchange for operating lease liabilities$5.0M$2.0M$9.0M$6.0M$8.0M$33.0M