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Oil & gas E&P · Energy · Fiscal year ends Dec 31
Talos Energy reported revenue of $1.8B in the fiscal year ended Dec 2025, down 9.8% from the year before. Operating income was −$560M, an operating margin of −31.5%, and net income was −$494M. Net debt was $863M.
Ranks among the 34 oil & gas e&p companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 1,245 | 1,652 | 1,458 | 1,974 | 1,780 |
| Operating income | 375 | 736 | 210 | 173 | −560 |
| Interest expense | 133 | 125 | 173 | 188 | 163 |
| Pre-tax income | −185 | 384 | 127 | −71.4 | −604 |
| Income tax | −1.6 | 2.5 | −60.6 | 5.0 | −109 |
| Net income | −183 | 382 | 187 | −76.4 | −494 |
| Diluted EPS | −2.24 | 4.56 | 1.55 | −0.44 | −2.82 |
| Diluted shares | 81.8 | 83.7 | 121 | 176 | 175 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 69.9 | 44.1 | 33.6 | 108 | 363 |
| Receivables | 173 | 151 | 179 | 237 | 167 |
| Current assets | 340 | 368 | 422 | 659 | 841 |
| Net PP&E | 2,389 | 2,643 | 4,040 | 5,215 | 4,438 |
| Total assets | 2,767 | 3,059 | 4,816 | 6,192 | 5,552 |
| Payables | 85.8 | 128 | 84.2 | 117 | 93.0 |
| Current liabilities | 601 | 607 | 579 | 723 | 645 |
| Short-term debt | 6.1 | 0.0 | 33.1 | 0.0 | – |
| Long-term debt | 957 | 585 | 993 | 1,221 | 1,226 |
| Total liabilities | 2,006 | 1,893 | 2,661 | 3,432 | 3,384 |
| Shareholders' equity | 761 | 1,166 | 2,155 | 2,760 | 2,168 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 411 | 710 | 519 | 963 | 936 |
| Depreciation & amortisation | 396 | 415 | 664 | 1,024 | 1,056 |
| Stock-based compensation | 11.0 | 16.0 | 13.0 | 14.5 | 18.4 |
| Acquisitions | 5.4 | 3.5 | 0.0 | 936 | 50.0 |
| Share buybacks | 0.0 | 0.0 | 47.5 | 45.2 | 119 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 32.7% | −11.7% | 35.4% | −9.8% |
| Operating income growth (YoY) | – | 96.5% | −71.5% | −17.6% | −424.0% |
| EPS growth (YoY) | – | – | −66.0% | −128.4% | – |
| Operating margin | 30.1% | 44.6% | 14.4% | 8.8% | −31.5% |
| Net margin | −14.7% | 23.1% | 12.8% | −3.9% | −27.8% |
| Return on equityBlank when equity is negative | −24.1% | 32.8% | 8.7% | −2.8% | −22.8% |
| ROCEEBIT ÷ (assets − current liabilities) | 17.3% | 30.0% | 5.0% | 3.2% | −11.4% |
| Cash conversion (CFO ÷ net income) | −2.25x | 1.86x | 2.77x | −12.6x | −1.89x |
| Receivable days | 51 | 33 | 45 | 44 | 34 |
| Interest cover | 2.81x | 5.87x | 1.21x | 0.92x | −3.43x |
| Debt ÷ equity | 1.27x | 0.50x | 0.48x | 0.44x | 0.57x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 893 | 541 | 992 | 1,113 | 863 |
| Current ratio | 0.57x | 0.61x | 0.73x | 0.91x | 1.30x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.