SOC

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Sable Offshore Corp.

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Key Metrics

Previous Close: $4.78
52-Week Range: $2.88 – $29.00
Market Cap: $972.78M
P/E (TTM): —
EPS (TTM): -3.44
Dividend Yield: —

Advanced Metrics

Price/Book: 1.81
PEG Ratio: —
Return on Equity: -103.21%
Return on Assets: -14.02%
Gross Margin: -128.23%
Operating Margin: -48.78%
Profit Margin: 0.00%
Current Ratio: 0.24
Debt/Equity: 2.50
Total Debt: $987.53M
Free Cash Flow: $-493.65M
Revenue Growth: —
Earnings Growth: —
Enterprise Value: $1.94B

SOC Income statement, annual periods, in USD
USD	FY2021	FY2022	FY2023	FY2025
Revenue	$0.00	$0.00	$0.00	$0.00
Cost of Revenue	—	—	$21.02M	$12.89M
Gross Profit	—	—	-$21.02M	-$12.89M
Selling, General & Admin	$1.68M	—	$12.76M	$176.20M
Operating Expenses	$1.68M	$6.15M	$73.46M	$395.39M
Operating Income	-$1.68M	-$6.15M	-$94.47M	-$408.28M
EBITDA	-$1.68M	-$6.15M	-$72.66M	-$295.74M
Pretax Income	$4.27M	-$1.83M	-$93.67M	-$398.49M
Income Tax	$0.00	$757.07K	$0.00	$11.67M
Net Income	$4.27M	-$2.59M	-$93.67M	-$410.16M
Diluted EPS	0.14	-0.07	-7.05	-4.18
Diluted Shares	31.61M	35.94M	13.29M	98.18M

SOC Balance Sheet statement, annual periods, in USD
USD	FY2021	FY2022	FY2023	FY2025
Cash & Equivalents	$100.26K	$0.00	$300.38M	$97.68M
Inventory	—	$16.21M	$15.34M	$26.74M
Current Assets	$188.47K	$16.21M	$355.27M	$135.70M
Total Assets	$290.91M	$711.58M	$1.58B	$1.74B
Current Liabilities	$6.74M	$17.90M	$120.67M	$1.02B
Long-Term Debt	—	—	$833.54M	—
Total Debt	$1.78M	$6.67M	$851.45M	$943.41M
Total Liabilities	$18.89M	$372.56M	$1.20B	$1.21B
Retained Earnings	-$18.33M	$0.00	-$698.30M	-$1.11B
Shareholders' Equity	$272.02M	$339.02M	$384.19M	$534.30M
Working Capital	-$6.55M	-$1.69M	$234.60M	-$887.72M
Net Debt	$1.68M	$7.24M	$533.16M	$823.90M

SOC Cash Flow statement, annual periods, in USD
USD	FY2021	FY2022	FY2023	FY2025
Operating Cash Flow	-$2.01M	-$1.71M	-$70.10M	-$351.70M
Capital Expenditure	—	—	—	-$417.62M
Free Cash Flow	-$2.01M	-$1.71M	-$70.10M	-$769.33M
Depreciation & Amortisation	—	—	$21.02M	$14.51M
Stock-Based Compensation	—	—	$0.00	$42.68M
Investing Cash Flow	-$287.50M	$786.92K	$0.00	-$417.62M
Financing Cash Flow	$289.82M	$705.00K	$70.10M	$531.24M
Share Repurchases	—	$0.00	-$230.13M	—
Net Change in Cash	$313.75K	-$222.51K	$167.56K	-$238.09M

SOC Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$0.00	$0.00	$0.00	$0.00	$1.27M
Cost of Revenue	$3.02M	$3.17M	$3.26M	$3.44M	$3.94M
Gross Profit	-$3.02M	-$3.17M	-$3.26M	-$3.44M	-$2.67M
Selling, General & Admin	$22.33M	$75.32M	$36.72M	$41.83M	$48.05M
Operating Expenses	$56.77M	$125.72M	$116.12M	$96.78M	$116.08M
Operating Income	-$59.80M	-$128.89M	-$119.38M	-$100.22M	-$118.75M
EBITDA	-$74.22M	-$95.65M	-$79.06M	-$46.80M	-$158.05M
Pretax Income	-$98.66M	-$120.24M	-$103.75M	-$75.84M	-$197.03M
Income Tax	$10.88M	$7.82M	$6.63M	-$13.66M	$0.00
Net Income	-$109.54M	-$128.07M	-$110.38M	-$62.17M	-$197.03M
Diluted EPS	-1.30	-1.40	-1.11	—	-1.37
Diluted Shares	84.44M	91.22M	99.49M	—	143.67M

SOC Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$188.99M	$247.14M	$41.63M	$97.68M	$52.17M
Receivables	—	—	—	—	$1.54M
Inventory	$15.08M	$20.49M	$25.07M	$26.74M	$20.71M
Current Assets	$245.07M	$308.24M	$78.02M	$135.70M	$85.01M
Total Assets	$1.56B	$1.77B	$1.65B	$1.74B	$1.73B
Current Liabilities	$146.93M	$1.06B	$1.06B	$1.02B	$1.08B
Long-Term Debt	$854.55M	—	—	—	—
Total Debt	$872.78M	$894.18M	$916.50M	$943.41M	$979.50M
Total Liabilities	$1.28B	$1.33B	$1.30B	$1.21B	$1.31B
Retained Earnings	-$807.84M	-$935.91M	-$1.05B	-$1.11B	-$1.31B
Shareholders' Equity	$280.71M	$445.63M	$348.08M	$534.30M	$421.86M
Working Capital	$98.14M	-$754.20M	-$983.68M	-$887.72M	-$992.80M
Net Debt	$665.57M	$628.42M	$854.94M	$823.90M	$904.08M

SOC Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	-$47.94M	-$95.01M	-$110.63M	-$98.13M	-$82.22M
Capital Expenditure	-$63.30M	-$129.68M	-$130.11M	-$94.53M	-$21.05M
Free Cash Flow	-$111.24M	-$224.69M	-$240.74M	-$192.66M	-$103.27M
Depreciation & Amortisation	$3.43M	$3.59M	$3.67M	$3.82M	$4.31M
Stock-Based Compensation	$6.07M	$10.43M	$13.52M	$12.66M	$15.03M
Investing Cash Flow	-$63.30M	-$129.68M	-$130.11M	-$94.53M	-$21.05M
Financing Cash Flow	-$36.00K	$282.97M	-$409.00K	$248.71M	$57.76M
Net Change in Cash	-$111.28M	$58.28M	-$241.15M	$56.05M	-$45.52M

Market Snapshot

About

Sable Offshore Corp. is an independent offshore energy company focused on developing oil and natural gas resources in federal waters offshore California. The company aims to safely develop and produce hydrocarbons from its offshore platforms in the Santa Barbara Channel.