VAALCO Energy, Inc. (EGY) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q1 26	$0.05	-$0.45	-1000.0%	—	$62.6M	—
Q3 25	-$0.04	-$0.1	-150.0%	—	$61M	—
Q2 25	$0.02	$0.02	0.0%	—	$128.8M	—
Q1 25	$0.06	$0.06	0.0%	—	$110.3M	—
Q4 24	$0.04	$0.07	+75.0%	—	$121.7M	—
Q3 24	$0.14	$0.08	-42.9%	—	$140.3M	—
Q2 24	$0.13	$0.22	+69.2%	—	$156.3M	—
Q1 24	$0.03	$0.06	+100.0%	—	$100.2M	—
Q4 23	$0.14	$0.37	+164.3%	—	$123.3M	—
Q3 23	$0.14	$0.07	-50.0%	—	$116.3M	—
Q2 23	$0.14	$0.11	-21.4%	—	$150.8M	—
Q1 23	$0.17	$0.07	-58.8%	—	$80.4M	—
Q4 22	$0.3	$0.17	-43.3%	—	$124.9M	—
Q3 22	$0.16	$0.11	-31.3%	—	$90M	—
Q2 22	$0.69	$0.52	-24.6%	—	$127.5M	—
Q1 22	$0.3	$0.36	+20.0%	—	$77.6M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	-$0.4	—	—	$359.3M	—
FY24	—	$0.56	—	—	$479M	—
FY23	—	$0.56	—	—	$455.1M	—
FY22	—	$0.74	—	—	$354.3M

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$69M	$88.6M	$120M	$96.8M	$77.4M	$199.1M	$354.3M	$455.1M	$479M	$359.3M
YoY change	-14.2%	+28.3%	+35.5%	-19.4%	-20%	+157.2%	+78%	+28.4%	+5.26%	-25%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	69M	88.6M	120M	96.8M	77.4M	199.1M	354.3M	455.1M	479M	359.3M
Cost of revenue	53.8M	57.7M	61.1M	57M	56.9M	102.3M	160.8M	268.5M	306.5M	268.2M
Gross profit	15.3M	30.9M	58.9M	39.7M	20.5M	96.8M	193.5M	186.6M	172.5M	91.1M
Gross margin	22.1%	34.8%	49.1%	41.1%	26.5%	48.6%	54.6%	41%	36%	25.4%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	9.2M	10.4M	11.4M	14.9M	10.7M	14.8M	10.1M	23.8M	29.7M	33.1M
Operating expenses	18.4M	10.5M	7.7M	18.9M	16M	16.8M	10.3M	25.4M	29.7M	44.4M
Operating income	-3.1M	20.4M	51.2M	20.9M	4.5M	80M	183.2M	161.2M	136.5M	46.6M
Operating margin	-4.46%	23%	42.7%	21.5%	5.85%	40.2%	51.7%	35.4%	28.5%	13%
Non-operating income, net	-3.3M	1.7M	4.4M	-543K	-25.1M	-20.2M	-57.8M	-4.6M	7M	-64.9M
Pretax income	-9M	20.6M	55.5M	21M	-20.4M	59.8M	123.4M	150.1M	139.8M	-26.6M
Income tax	9.2M	10.4M	-43.3M	23.9M	27.7M	-22.2M	71.4M	89.8M	81.3M	14.8M
Net income	-26.6M	9.7M	98.2M	2.6M	-48.2M	81.8M	51.9M	60.4M	58.5M	-41.4M
Net margin	-38.5%	10.9%	81.8%	2.65%	-62.2%	41.1%	14.6%	13.3%	12.2%	-11.5%
EBITDA	2.1M	30M	57.4M	28.3M	39.3M	124.7M	281.1M	278.9M	273.8M	156M
EPS	-0.45	0.16	1.64	0.04	-0.83	1.37	0.74	0.56	0.56	-0.4
Diluted EPS	-0.45	0.16	1.62	0.04	-0.83	1.37	0.73	0.56	0.56	-0.4

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	116.3M	123.3M	100.2M	156.3M	140.3M	121.7M	110.3M	128.8M	61M	91M	62.6M	177.9M
Cost of revenue	72.5M	40.9M	57.9M	125.1M	89.4M	73.7M	75.1M	100.5M	50.4M	74M	46.6M	122.5M
Gross profit	43.8M	82.4M	42.2M	31.2M	51M	48M	35.2M	28.2M	10.6M	17.1M	16M	55.4M
Gross margin	37.6%	66.8%	42.2%	20%	36.3%	39.5%	31.9%	21.9%	17.3%	18.8%	25.6%	31.2%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	6.2M	7M	6.7M	7.6M	6.9M	8.5M	9.1M	8.5M	8.8M	6.7M	8.3M	11.2M
Operating expenses	7.4M	7M	6.9M	7.5M	6.8M	8.4M	9.1M	11M	9.2M	15.1M	30.7M	11.3M
Operating income	35.5M	77.9M	33.5M	23.7M	44.1M	38.5M	26.2M	17.2M	898K	2.3M	-14.9M	44.2M
Operating margin	30.6%	63.1%	33.5%	15.2%	31.4%	31.6%	23.7%	13.4%	1.47%	2.57%	-23.9%	24.8%
Non-operating income, net	-2.1M	4.8M	-2.6M	14.8M	69K	-8.6M	-1.1M	724K	-1.1M	-63.5M	-72.8M	17.8M
Pretax income	32M	81.6M	29.9M	37.5M	43.6M	28.9M	23.8M	15.4M	-2.5M	-63.3M	-89.4M	59.2M
Income tax	25.8M	37.6M	22.2M	9.3M	32.6M	17.2M	16.1M	7M	-3.6M	-4.6M	4.3M	16.8M
Net income	6.1M	44M	7.7M	28.2M	11M	11.7M	7.7M	8.4M	1.1M	-58.6M	-93.8M	42.4M
Net margin	5.28%	35.7%	7.67%	18%	7.83%	9.58%	7.01%	6.51%	1.8%	-64.4%	-149.8%	23.9%
EBITDA	68.3M	102.1M	58.8M	56.6M	91M	73.7M	55.5M	45.8M	21.5M	33.2M	2.2M	78.1M
EPS	0.06	0.41	0.07	0.27	0.1	0.11	0.07	0.08	0.01	-0.56	-0.9	0.39
Diluted EPS	0.06	0.41	0.07	0.27	0.1	0.11	0.07	0.08	0.01	-0.56	-0.9	0.39

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	60.7M	40.9M	87.1M	131.3M	101.9M	186.9M	—	—	453M	378.8M	605.9M
Enterprise value	54.7M	30.2M	53.7M	118.7M	76.6M	148.5M	—	—	468.6M	466.2M	837.3M
Shares outstanding	58.4M	58.7M	59.2M	59.1M	57.6M	58.2M	69.6M	106.4M	103.7M	104.1M	104.1M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	4.24	0.89	51.2	—	2.28	—	—	7.75	—	20
P/S	0.88	0.46	0.73	1.36	1.32	0.94	—	—	0.95	1.05	1.73
P/B	-169.6	3.98	0.79	1.2	1.66	1.3	—	—	0.9	0.85	1.59
EV/EBITDA	26.4	1.01	0.94	4.2	1.95	1.19	—	—	1.71	2.99	9.47
EV/Sales	0.79	0.34	0.45	1.23	0.99	0.75	—	—	0.98	1.3	2.39
Earnings yield	—	23.6%	112.8%	1.95%	—	43.8%	—	—	12.9%	—	5.01%
FCF yield	-14.5%	17.5%	26.5%	12.3%	3.06%	5.91%	—	—	2.37%	-11.4%	-16%
PEG	—	—	—	—	—	—	—	—	—	—	0.05

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	22.1%	34.8%	49.1%	41.1%	26.5%	48.6%	54.6%	41%	36%	25.4%	31.2%
Operating margin	-4.46%	23%	42.7%	21.5%	5.85%	40.2%	51.7%	35.4%	28.5%	13%	47.5%
Net margin	-38.5%	10.9%	81.8%	2.65%	-62.2%	41.1%	14.6%	13.3%	12.2%	-11.5%	-31.1%
ROE	7.4K%	93.8%	89.4%	2.34%	-78.4%	56.7%	11.1%	12.6%	11.7%	-9.33%	-24.4%
ROA	-32.8%	12.1%	59.1%	1.21%	-34.1%	31.1%	6.06%	7.33%	6.12%	-4.53%	-1%
ROIC	48.2%	-2.5K%	67%	0%	12.5%	75.6%	14.9%	14.5%	11%	8.78%	5.31%
Return on tangible assets	-32.8%	12.1%	59.1%	1.21%	-34.1%	31.1%	6.06%	7.33%	6.12%	-4.53%	-11.2%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	0.69	0.78	1.43	1.09	1.22	1.05	1.23	1.79	1.31	0.69	0.44
Quick ratio	0.68	0.71	1.41	1.08	1.14	1.03	1.21	1.77	1.26	0.68	0.41
Debt / equity	-40.3	0.87	—	0.3	0.37	0.07	0.19	0.19	0.2	0.33	0.69
Debt / assets	0.18	0.11	—	0.16	0.16	0.04	0.1	0.11	0.1	0.16	0.27
Net debt / EBITDA	-2.92	-0.36	—	-0.44	-0.64	-0.31	0.18	-0.11	0.06	0.56	1.71
Interest coverage	-5.32	20.6	248.7	—	—	—	90.1	—	38.5	-2.22	-9.87
Effective tax rate	0%	50.3%	0%	100%	0%	0%	57.9%	59.8%	58.2%	0%	0%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	1.18	1.51	2.03	1.64	1.34	3.42	5.09	4.28	4.62	3.45	3.35
EPS (basic)	-0.45	0.16	1.64	0.04	-0.83	1.37	0.74	0.56	0.56	-0.4	-0.4
EPS (diluted)	-0.45	0.16	1.62	0.04	-0.83	1.37	0.73	0.56	0.56	-0.4	-1.03
Book value per share	-0.01	0.18	1.85	1.86	1.07	2.48	6.7	4.5	4.84	4.26	3.62
FCF per share	-0.15	0.12	0.39	0.27	0.05	0.19	-0.45	1.19	0.1	-0.42	-1.28
Cash per share	0.35	0.33	0.56	0.78	0.83	0.84	0.53	1.14	0.8	0.57	0.29
Capex per share	0.01	0	0	0	0.08	0.39	0	0	0.01	2.43	3.15

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	1.2%	0.28%	0%	0%	5.58%	11.3%	0%	0%	0.18%	70.4%	84.1%
Capex / operating cash flow	-7.35%	2.85%	0%	0%	84.8%	95.6%	0%	0%	0.6%	118.9%	168.3%
Payout ratio	—	—	—	—	0%	0%	18%	44.4%	44.8%	-64%	92.6%
Dividend yield	—	—	—	—	0%	0%	—	—	5.79%	6.99%	4.37%

Yield

4.37%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.063

ex-dividend Aug 21, 2026

Payout ratio

93%

of earnings

Dividend growth

1 year

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 21, 2026	$0.063
May 22, 2026	$0.063
Feb 27, 2026	$0.063
Nov 21, 2025	$0.063
Aug 22, 2025	$0.063
May 23, 2025	$0.063
Feb 28, 2025	$0.0625
Nov 22, 2024	$0.0625

Split history

Date	Ratio

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$116.3M	$123.3M	$100.2M	$156.3M	$140.3M	$121.7M	$110.3M	$128.8M	$61M	$91M	$62.6M	$177.9M
YoY change	+29.2%	-1.28%	+24.6%	+3.64%	+20.7%	-1.3%	+10.2%	-17.6%	-56.5%	-25.2%	-43.3%	+38.2%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	20.5M	19.7M	33.4M	45.9M	47.9M	48.7M	37.2M	121M	82.7M	58.9M
Receivables	6.8M	3.6M	11.9M	14.3M	0	22.5M	52.1M	44.9M	94.8M	39.9M
Inventory	913K	3.3M	785K	1.1M	3.9M	1.6M	3.3M	1.9M	9.4M	1.8M
Total current assets	38.5M	36.5M	58.8M	69.8M	64M	88.3M	200.1M	228.1M	237.9M	133M
Property, plant & equipment	-371.2M	-376.7M	-380.5M	-363.3M	-413.2M	-444.9M	-913.2M	-1B	-1.1B	-695.5M
Goodwill & intangibles	—	—	—	—	—	—	—	—	—	—
Total assets	81M	79.6M	166.3M	211.5M	141.2M	263.1M	855.6M	823.2M	955M	913.4M
Accounts payable	19.1M	11.6M	8.1M	15.9M	16.7M	18.8M	59.9M	22.2M	11.8M	44.7M
Short-term debt	7.5M	6.7M	—	12M	12.9M	9.6M	10.1M	12.5M	16.9M	17.9M
Total current liabilities	55.6M	46.6M	41M	63.8M	52.6M	84.3M	162.1M	127.5M	181.7M	192M
Long-term debt	6.9M	2.3M	—	21.4M	9.7M	587K	78.9M	78.3M	81.3M	128.4M
Total liabilities	81.4M	69.3M	56.5M	101.8M	79.8M	118.8M	389.5M	344.4M	453.4M	469.9M
Shareholders' equity	-358K	10.3M	109.8M	109.7M	61.5M	144.3M	466.1M	478.8M	501.6M	443.5M
Total debt	14.4M	9M	—	33.4M	22.6M	10.2M	89.1M	90.8M	98.2M	146.3M
Net debt	-6M	-10.7M	—	-12.6M	-25.3M	-38.4M	51.9M	-30.2M	15.5M	87.4M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	103.4M	121M	113.3M	62.9M	89.1M	82.7M	40.9M	67.9M	24M	58.9M	48M	30.4M
Receivables	22.8M	44.9M	44.9M	64.9M	84.3M	94.8M	120.3M	132.9M	109.5M	39.9M	24.8M	21.5M
Inventory	9.3M	1.9M	2.4M	7.3M	4.8M	9.4M	8M	1.3M	9M	1.8M	10M	5.1M
Total current assets	218.1M	228.1M	217.7M	194.8M	236.8M	237.9M	200.8M	223.7M	173.7M	133M	116.1M	88.9M
Property, plant & equipment	-1B	-1B	-1B	-1.1B	-1.1B	-1.1B	-1.2B	-1.2B	-1.2B	-695.5M	-707.6M	-741.5M
Goodwill & intangibles	—	—	—	—	—	—	—	—	—	—	—	—
Total assets	827.8M	823.2M	809.1M	917.4M	937.9M	955M	927.1M	964.9M	950.4M	913.4M	920.7M	968.6M
Accounts payable	43.9M	22.2M	16.7M	22.6M	15M	11.8M	18.8M	22M	17M	44.7M	30.6M	41M
Short-term debt	11.3M	12.5M	12.4M	12.3M	12.9M	16.9M	17.3M	17.1M	16.7M	17.9M	19.1M	19.3M
Total current liabilities	166.8M	127.5M	131.2M	163.6M	176.2M	181.7M	177.7M	160.9M	166.2M	192M	226.2M	203.9M
Long-term debt	77.9M	78.3M	77.8M	74.4M	72.9M	81.3M	79.1M	135.1M	131.1M	128.4M	221.3M	242.5M
Total liabilities	383.5M	344.4M	336.6M	423.7M	436.9M	453.4M	423M	453.4M	444.6M	469.9M	575.8M	588.2M
Shareholders' equity	444.4M	478.8M	472.6M	493.6M	501M	501.6M	504.1M	511.6M	505.9M	443.5M	344.9M	380.3M
Total debt	89.3M	90.8M	90.2M	86.7M	85.8M	98.2M	96.4M	152.1M	147.7M	146.3M	240.3M	261.8M
Net debt	-14.1M	-30.2M	-23.1M	23.8M	-3.3M	15.5M	55.4M	84.3M	123.8M	87.4M	192.3M	231.4M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	-26.6M	9.7M	98.2M	2.6M	-48.2M	81.8M	51.9M	60.4M	58.5M	-41.4M
Depreciation & amortization	8.3M	6.8M	6M	7.3M	9.6M	21.1M	48.1M	115.3M	143M	110M
Stock-based compensation	192K	1.1M	2.4M	3.5M	114K	2.5M	2.2M	3.3M	4.4M	6.2M
Change in working capital	-1.8M	-9.6M	-5.9M	3.8M	9.9M	-15.9M	-1.5M	42.7M	-32.3M	121.8M
Operating cash flow	-11.3M	8.8M	42.7M	28M	5.1M	23.5M	86.5M	218.1M	145M	212.7M
Capital expenditure	830K	250K	0	0	-4.3M	-22.5M	0	0	877K	-252.9M
Investing cash flow	-7.8M	164K	0	0	-4.3M	-22.5M	36.7M	0	877K	-252.9M
Dividends paid	—	—	—	—	0	0	-9.4M	-26.8M	-26.2M	-26.5M
Share repurchases	-51K	-20K	-58K	-3.9M	-992K	-1.4M	-3.8M	-23.6M	-6.8M	-709K
Financing cash flow	-144K	-5.8M	-8.7M	-3.7M	-929K	-57K	-18M	-56.8M	-43M	12.4M
Net change in cash	-19.2M	3.1M	34M	24.3M	-153K	975K	105.2M	161.2M	102.8M	-27.8M
Free cash flow	-8.8M	7.1M	23M	16.1M	3.1M	11.1M	-31.1M	126.4M	10.7M	-43.2M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	6.1M	44M	7.7M	28.2M	11M	11.7M	7.7M	8.4M	1.1M	-58.6M	-93.8M	42.4M
Depreciation & amortization	32.5M	20.3M	25.8M	33.1M	47M	37M	30.3M	28.3M	20.6M	30.8M	18.2M	34.3M
Stock-based compensation	1.1M	991K	898K	985K	1.5M	1.1M	1.5M	1.5M	1.7M	1.5M	1.4M	1.6M
Change in working capital	53.5M	-21.7M	9.4M	-33.7M	2.5M	-11.2M	-8.7M	-2.6M	-9.8M	122.8M	-30.5M	37.6M
Operating cash flow	90.1M	42M	40.6M	5.2M	62M	36.3M	30.5M	18.3M	16.4M	145.2M	-39.2M	73.7M
Capital expenditure	—	—	—	—	—	—	-247K	-45.9M	-48.3M	-100.1M	-78.1M	-103.6M
Investing cash flow	0	—	—	—	0	—	-247K	-45.9M	-48.3M	-100.1M	-52.6M	-103.6M
Dividends paid	-6.7M	-6.6M	-6.5M	-6.6M	-6.6M	-6.6M	-6.6M	-6.6M	-6.7M	-6.7M	-6.7M	-6.7M
Share repurchases	-6.1M	-6.1M	-6.3M	-458K	-1K	1K	-155K	-554K	0	0	0	-2M
Financing cash flow	-14.5M	-14.5M	-14.5M	-9.1M	-8.7M	-10.8M	-14.8M	47.7M	-10.3M	-10.2M	81M	12.2M
Net change in cash	75.6M	27.5M	26.2M	-3.9M	53.3M	25.5M	15.5M	20.2M	-42.2M	34.8M	-10.8M	-17.6M
Free cash flow	71.7M	31.9M	5.2M	-32.9M	35.4M	3.1M	-26.1M	-30.3M	-31.9M	45M	-117.3M	-29.9M

Feb 12, 2003	1:1
Mar 16, 2000	1:1
Dec 23, 1997	1:1
May 29, 1997	1:1

VAALCO Energy, Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Split history

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement