TUSK · MAMMOTH ENERGY SERVICES, INC.
Mammoth Energy Services, Inc. operates as an energy services company in the United States, Canada, and internationally. It operates in four segments: Well Completion Services, Infrastructure Services, and Natural Sand Proppant Services. The company offers hydraulic fracturing, sand hauling, water transfer, master services agreements. It also provides services on electric transmission and distribution, networks and substation facilities, such as engineering, design, construction, upgrade, maintenance, and repair of high voltage transmission line, substation and lower voltage overhead, and underground distribution systems; installs, maintains, and repair of commercial wiring; and storm repair and restoration services. In addition, the company mines, processes, and sells natural sand proppant; buys processed sand from suppliers on the spot market for resale; and provides logistics solutions to facilitate delivery of frac sand products. Further, it provides directional drilling services for drilling and production of oil and natural gas from unconventional resource play; leasing helicopters, and helicopter training and response services; equipment rentals consist of cranes, light plants, generators, and other oilfield related equipment; remote accommodation; coil tubing, pressure control, flowback, crude oil hauling, cementing, and acidizing services; production testing, solids control, hydrostatic testing, and torque services; contract drilling; rig moving; coil tubing; pressure control services, including nitrogen and fluid pumping services; and full service transportation. It serves government-funded, private, public investor-owned, and co-operative utilities; independent oil and natural gas producers; and land-based drilling contractors. The company was formerly known as Mammoth Energy Partners LP and changed its name to Mammoth Energy Services, Inc. in October 2016. Mammoth Energy Services, Inc. was founded in 2014 and is headquartered in Oklahoma City, Oklahoma.
Cap structure and valuation
| Cap structure | |
|---|---|
| SP | $2.78 |
| SO | 48.2M |
| Options | 0.0M |
| Warrants | 0.0M |
| FD SO | 48.2M |
| MC | $133.9M |
| Cash | $92.7M |
| Total debt | $0.0M |
| EV | $41.2M |
| TTM Multiples | |
|---|---|
| EV / Revenue | 0.8x |
| EV / EBITDA | — |
| MC / Net Income | 13.0x |
| EV / FCF | — |
| MC / FCF | — |
| Ownership & coverage | |
|---|---|
| Institutional | 52.7% |
| Insiders | 15.8% |
| # Institutions | 125 |
| Analysts | 0 |
| Consensus | — |
| Avg target | — |
| Short % float | 0.5% |
| Days to cover | 0.27 |
MC = SP × FD SO. EV = MC + Debt − Cash. SP = previous yfinance close. Balance-sheet figures as of 2026-05-06. Multiples use TTM (sum of last 4 quarters); shown as "—" when the denominator is zero or negative, or when fewer than four quarters are reported — a partial sum is not a trailing twelve months. Ownership & coverage per Yahoo Finance as of 2026-07-13 — institutional % is 13F-based, so it can lag a quarter and exceed 100% on share-count timing. Short interest per FINRA bi-monthly reporting, as of 2026-06-29; the float denominator can be unreliable on tiny floats.
Financial statements
| 3/31/26 | 12/31/25 | 9/30/25 | 6/30/25 | |
|---|---|---|---|---|
| Total Revenue | 22.03 | (2.51) | 14.80 | 16.41 |
| Revenue YoY % | 89.4% | (101.8%) | (13.2%) | (68.2%) |
| Gross Profit | 2.73 | — | — | — |
| Gross Profit YoY % | (7.7%) | — | — | — |
| Gross Margin % | 12.4% | — | — | — |
| SG&A | 3.60 | 4.58 | 5.16 | 5.34 |
| Operating Income | (0.87) | (11.51) | (9.01) | (36.40) |
| Operating Income YoY % | 25.3% | 35.2% | (47.1%) | 61.6% |
| Operating Margin % | (3.9%) | 458.4% | (60.9%) | (221.8%) |
| EBITDA | 2.56 | (9.03) | (7.10) | (34.16) |
| EBITDA Margin % | 11.6% | 359.9% | (47.9%) | (208.2%) |
| Other Income / (Expense) | 7.51 | 22.45 | (1.47) | 44.31 |
| Pretax Income | 6.64 | 10.94 | (10.47) | 7.91 |
| Tax Provision | 1.46 | 2.04 | 2.14 | (0.93) |
| Net Income | 5.19 | 8.90 | (12.62) | 8.85 |
| Net Margin % | 23.5% | (354.6%) | (85.2%) | 53.9% |
| Diluted EPS | $0.11 | $0.19 | -$0.26 | $0.18 |
| Basic EPS | $0.11 | $0.19 | -$0.26 | $0.18 |
| Diluted Avg Shares | 48.3 | — | 48.4 | 48.2 |
| Basic Avg Shares | 48.3 | — | 48.4 | 48.2 |
| LTM | 12/31/25 | 12/31/24 | 12/31/23 | 12/31/22 | |
|---|---|---|---|---|---|
| Total Revenue | 50.73 | 44.29 | 187.93 | 309.49 | 362.09 |
| Revenue YoY % | 14.5% | (76.4%) | (39.3%) | (14.5%) | — |
| Cost of Revenue | — | — | — | 247.84 | 278.59 |
| Gross Profit | — | — | — | 61.65 | 83.50 |
| Gross Profit YoY % | — | — | — | (26.2%) | — |
| Gross Margin % | — | — | — | 19.9% | 23.1% |
| SG&A | 18.68 | 19.57 | 124.82 | 37.46 | 39.55 |
| Operating Expense | — | — | — | 78.34 | 99.92 |
| Operating Income | (57.78) | (57.43) | (128.71) | (16.68) | (16.42) |
| Operating Income YoY % | (0.6%) | 55.4% | (671.4%) | (1.6%) | — |
| Operating Margin % | (113.9%) | (129.7%) | (68.5%) | (5.4%) | (4.5%) |
| EBITDA | (47.73) | (48.76) | (105.75) | 24.21 | 44.13 |
| EBITDA Margin % | (94.1%) | (110.1%) | (56.3%) | 7.8% | 12.2% |
| Interest Expense | — | — | — | — | 11.51 |
| Other Income / (Expense) | 72.81 | 66.12 | (89.83) | 25.82 | 40.91 |
| Pretax Income | 15.03 | 8.68 | (218.53) | 9.13 | 12.99 |
| Tax Provision | 4.70 | 4.09 | (11.20) | 12.30 | 13.61 |
| Net Income | 10.32 | 4.60 | (207.33) | (3.16) | (0.62) |
| Net Margin % | 20.3% | 10.4% | (110.3%) | (1.0%) | (0.2%) |
| Diluted EPS | $0.22 | $0.10 | -$4.31 | -$0.07 | -$0.01 |
| Basic EPS | $0.22 | $0.10 | -$4.31 | -$0.07 | -$0.01 |
| Diluted Avg Shares | 48.3 | 48.3 | 48.1 | 47.8 | 47.2 |
| Basic Avg Shares | 48.3 | 48.3 | 48.1 | 47.8 | 47.2 |
| 3/31/26 | 12/31/25 | 9/30/25 | 6/30/25 | |
|---|---|---|---|---|
| Cash & Equivalents | 92.72 | 101.99 | 98.17 | 127.25 |
| Short-term Investments | 32.45 | 19.64 | 12.73 | — |
| Receivables | 34.74 | 28.93 | 41.89 | 44.79 |
| Inventory | 3.19 | 4.08 | 4.27 | 3.47 |
| Other Current Assets | 21.69 | 22.51 | 41.95 | 64.63 |
| Total Current Assets | 184.78 | 177.15 | 199.01 | 240.13 |
| Net PPE | 39.61 | 39.61 | 39.71 | 40.52 |
| Operating Lease ROU | 2.04 | 2.59 | 3.59 | 3.88 |
| Other Assets | 118.30 | 115.54 | 94.44 | 79.66 |
| Total Assets | 344.74 | 334.89 | 336.75 | 364.19 |
| Current Lease Liabilities | 1.62 | 2.07 | 2.69 | 2.97 |
| Other Current Liabilities | 73.65 | 67.94 | 77.47 | 93.13 |
| Total Current Liabilities | 75.27 | 70.02 | 80.16 | 96.10 |
| Long-term Lease Liabilities | 1.05 | 1.38 | 2.03 | 2.29 |
| Other Liabilities | 5.47 | 5.21 | 5.32 | 3.76 |
| Total Liabilities | 81.79 | 76.61 | 87.51 | 102.16 |
| Retained Earnings | (273.86) | (279.05) | (287.95) | (275.33) |
| Total Equity | 262.95 | 258.29 | 249.24 | 262.04 |
| LTM | 12/31/25 | 12/31/24 | 12/31/23 | 12/31/22 | |
|---|---|---|---|---|---|
| Cash & Equivalents | 92.72 | 101.99 | 60.84 | 16.56 | 17.28 |
| Short-term Investments | 32.45 | 19.64 | 0.00 | — | 0.00 |
| Receivables | 34.74 | 28.93 | 43.77 | 447.20 | 456.46 |
| Inventory | 3.19 | 4.08 | 6.85 | 12.65 | 8.88 |
| Other Current Assets | 21.69 | 22.51 | 77.12 | 20.51 | 14.06 |
| Total Current Assets | 184.78 | 177.15 | 188.59 | 496.93 | 496.69 |
| Net PPE | 39.61 | 39.61 | 57.27 | 58.53 | 138.07 |
| Operating Lease ROU | 2.04 | 2.59 | 4.72 | 9.55 | 10.66 |
| Goodwill | — | — | 9.21 | 9.21 | 11.72 |
| Intangible Assets | — | — | 0.21 | 0.91 | 1.78 |
| Other Assets | 118.30 | 115.54 | 124.03 | 123.35 | 65.77 |
| Total Assets | 344.74 | 334.89 | 384.03 | 698.48 | 724.68 |
| Current Debt | — | — | 0.00 | 0.00 | 83.52 |
| Current Lease Liabilities | 1.62 | 2.07 | 2.90 | 5.77 | 5.45 |
| Other Current Liabilities | 73.65 | 67.94 | 111.61 | 176.78 | 148.25 |
| Total Current Liabilities | 75.27 | 70.02 | 114.51 | 182.55 | 237.21 |
| Long-term Debt | — | — | 0.00 | 42.81 | 0.00 |
| Long-term Lease Liabilities | 1.05 | 1.38 | 1.84 | 3.53 | 4.91 |
| Other Liabilities | 5.47 | 5.21 | 14.87 | 9.48 | 19.94 |
| Total Liabilities | 81.79 | 76.61 | 131.21 | 238.38 | 262.06 |
| Retained Earnings | (273.86) | (279.05) | (283.64) | (76.32) | (73.15) |
| Total Equity | 262.95 | 258.29 | 252.82 | 460.10 | 462.62 |
| 3/31/26 | 12/31/25 | 9/30/25 | 6/30/25 | |
|---|---|---|---|---|
| Net Income | 5.19 | 8.90 | (12.62) | 8.85 |
| D&A | 3.43 | 2.47 | 1.91 | 2.24 |
| Stock-Based Comp | 0.00 | 0.00 | 0.00 | 0.20 |
| Δ Working Cap & Other | (11.65) | (20.86) | 11.43 | (23.81) |
| Operating Cash Flow | (3.03) | (9.49) | 0.73 | (12.52) |
| CapEx | (11.71) | (25.93) | (17.30) | (26.86) |
| Other Investing | 5.94 | 21.88 | (12.97) | 118.72 |
| Investing Cash Flow | (5.76) | (4.05) | (30.27) | 91.86 |
| Stock Buyback | (0.40) | — | — | — |
| Financing Cash Flow | (0.47) | (0.07) | (0.12) | (0.30) |
| Free Cash Flow | (14.74) | (35.41) | (16.57) | (39.39) |
| LTM | 12/31/25 | 12/31/24 | 12/31/23 | 12/31/22 | |
|---|---|---|---|---|---|
| Net Income | 10.32 | 4.60 | (207.33) | (3.16) | (0.62) |
| D&A | 10.06 | 8.67 | 22.96 | 40.89 | 60.55 |
| Stock-Based Comp | 0.20 | 0.41 | 0.88 | 1.34 | 0.92 |
| Δ Working Cap & Other | (44.89) | (32.25) | 364.21 | (7.69) | (45.58) |
| Operating Cash Flow | (24.31) | (18.57) | 180.72 | 31.39 | 15.27 |
| CapEx | (81.80) | (70.55) | (17.07) | (19.39) | (12.74) |
| Other Investing | 133.57 | 125.10 | 6.63 | 10.61 | 10.61 |
| Investing Cash Flow | 51.78 | 54.55 | (10.43) | (8.79) | (2.12) |
| Debt Issuance | — | — | — | — | 197.97 |
| Debt Repayment | — | — | — | (284.61) | (199.43) |
| Other Financing | (0.95) | (4.29) | (112.11) | 269.02 | (4.15) |
| Financing Cash Flow | (0.95) | (4.29) | (112.11) | (15.59) | (5.60) |
| Effect of FX on Cash | — | — | (0.14) | 0.00 | (0.16) |
| Free Cash Flow | (106.11) | (89.12) | 163.65 | 11.99 | 2.53 |
| 3/31/26 | 12/31/25 | 9/30/25 | 6/30/25 | |
|---|---|---|---|---|
| Current Ratio | 2.45 | 2.53 | 2.48 | 2.50 |
| Quick Ratio | 2.41 | 2.47 | 2.43 | 2.46 |
| Debt / Equity | 0.31 | 0.30 | 0.35 | 0.39 |
| EBITDA Margin % | 11.6% | 359.9% | (47.9%) | (208.2%) |
| Working Capital | 109.51 | 107.13 | 118.85 | 144.03 |
| Net Debt | — | — | — | — |
| ROE % | 2.0% | 3.4% | (5.1%) | 3.4% |
| ROA % | 1.5% | 2.7% | (3.7%) | 2.4% |
| LTM | 12/31/25 | 12/31/24 | 12/31/23 | 12/31/22 | |
|---|---|---|---|---|---|
| Current Ratio | 2.45 | 2.53 | 1.65 | 2.72 | 2.09 |
| Quick Ratio | 2.41 | 2.47 | 1.59 | 2.65 | 2.06 |
| Debt / Equity | 0.31 | 0.30 | 0.52 | 0.52 | 0.57 |
| EBITDA Margin % | (94.1%) | (110.1%) | (56.3%) | 7.8% | 12.2% |
| Working Capital | 109.51 | 107.13 | 74.08 | 314.37 | 259.48 |
| Net Debt | — | — | (60.84) | 26.25 | (17.28) |
| ROE % | 3.9% | 1.8% | (82.0%) | (0.7%) | (0.1%) |
| ROA % | 3.0% | 1.4% | (54.0%) | (0.5%) | (0.1%) |
Insider activity (last 2 years)
| Date Filed | Reporter | Relationship | Trans. Date | Code | Shares | Price | Total Value |
|---|---|---|---|---|---|---|---|
| 2026-06-22 | Jacobi Paul M. | Director, Officer (Chief Business Officer) | 2026-06-17 | J | 3,211 | — | $0 |
| 2026-06-22 | Amron Arthur H | Director | 2026-06-17 | J | 19,121 | — | $0 |
| 2026-06-22 | Amron Arthur H | Director | 2026-06-17 | J | 10,329 | — | $0 |
| 2026-06-22 | WEXFORD CAPITAL LP | Director, Officer (Chief Business Officer), 10% Owner | 2026-06-17 | J | 1,072,896 | — | $0 |
| 2026-06-22 | WEXFORD CAPITAL LP | Director, Officer (Chief Business Officer), 10% Owner | 2026-06-17 | J | 6,354,667 | — | $0 |
| 2026-06-22 | WEXFORD CAPITAL LP | Director, Officer (Chief Business Officer), 10% Owner | 2026-06-17 | P | 4,019,574 | $2.60 | $10,468,177 |
| 2026-06-22 | DAVIDSON CHARLES E | 10% Owner | 2026-06-17 | J | 2,403,831 | — | $0 |
| 2026-06-22 | DAVIDSON CHARLES E | 10% Owner | 2026-06-17 | J | 4,066,610 | — | $0 |
| 2026-06-15 | Amron Arthur H | Director | 2026-06-12 | P | 2,000 | $3.28 | $6,560 |
| 2026-06-15 | Amron Arthur H | Director | 2026-06-11 | P | 2,500 | $3.22 | $8,050 |
| 2026-05-28 | Amron Arthur H | Director | 2026-05-28 | P | 3,000 | $3.25 | $9,750 |
| 2026-05-28 | Amron Arthur H | Director | 2026-05-26 | P | 2,500 | $3.24 | $8,100 |
| 2025-12-15 | Amron Arthur H | Director | 2025-12-11 | P | 10,000 | $1.89 | $18,900 |
| 2025-05-27 | SMITH ARTHUR L | Director | 2025-05-22 | S | (20,000) | $2.51 | -$50,200 |
| 2025-05-21 | SMITH ARTHUR L | Director | 2025-05-20 | S | (50,000) | $2.51 | -$125,500 |
| 2025-05-21 | SMITH ARTHUR L | Director | 2025-05-19 | S | (15,000) | $2.49 | -$37,350 |
| 2024-12-16 | Amron Arthur H | Director | 2024-12-12 | P | 1,000 | $2.97 | $2,971 |
| 2024-11-26 | Booker Corey J. | Director | 2024-11-25 | S | (15,000) | $3.47 | -$52,050 |
| 2024-11-26 | Booker Corey J. | Director | 2024-11-22 | S | (10,000) | $3.43 | -$34,300 |
| 2024-11-22 | Booker Corey J. | Director | 2024-11-21 | S | (6,709) | $3.25 | -$21,804 |
| 2024-11-22 | Booker Corey J. | Director | 2024-11-20 | S | (5,000) | $3.21 | -$16,050 |
| 2024-11-15 | Booker Corey J. | Director | 2024-11-14 | S | (3,607) | $3.50 | -$12,624 |
| 2024-11-15 | Booker Corey J. | Director | 2024-11-13 | S | (7,100) | $3.68 | -$26,100 |
| 2024-11-12 | Booker Corey J. | Director | 2024-11-11 | S | (3,494) | $3.61 | -$12,613 |
| 2024-11-12 | Booker Corey J. | Director | 2024-11-08 | S | (24) | $3.76 | -$90 |
| 2024-11-12 | Booker Corey J. | Director | 2024-11-07 | S | (165) | $3.90 | -$644 |