What is Sable Offshore's operating income?

Sable Offshore's total operating income in 2025 was -$408.28 million, based on the following breakdown: Total Gross Profit: $0.00 Total Operating Expenses: $408.28 million

Sable Offshore (SOC) Financials

$4.82 +0.33 (+7.35%)

As of 08/31/2026 03:58 PM Eastern

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Annual Income Statements for Sable Offshore

This table shows Sable Offshore's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2021	2022	2023	2025
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	4.27	-2.59	-94	-410
Consolidated Net Income / (Loss)	4.27	-2.59	-94	-410
Net Income / (Loss) Continuing Operations	4.27	-2.59	-94	-410
Total Pre-Tax Income	4.27	-1.83	-94	-398
Total Operating Income	-1.68	-6.15	-94	-408
Total Gross Profit	0.00	0.00	0.00	0.00
Total Revenue	0.00	0.00	0.00	0.00
Operating Revenue	-	-	0.00	0.00
Total Cost of Revenue	0.00	0.00	0.00	0.00
Total Operating Expenses	1.68	6.15	94	408
Selling, General & Admin Expense	-	-	13	176
Depreciation Expense	-	-	21	13
Other Operating Expenses / (Income)	1.68	6.15	61	219
Total Other Income / (Expense), net	5.96	4.32	0.80	9.79
Interest Expense	-	-	0.00	88
Other Income / (Expense), net	5.94	0.33	0.80	98
Income Tax Expense	0.00	0.76	0.00	12
Basic Earnings per Share	$0.28	($0.14)	$0.00	($4.18)
Weighted Average Basic Shares Outstanding	31.61M	35.94M	0.00	98.18M
Diluted Earnings per Share	$0.28	($0.14)	$0.00	($4.18)
Weighted Average Diluted Shares Outstanding	31.61M	35.94M	0.00	98.18M
Weighted Average Basic & Diluted Shares Outstanding	7.19M	15.62M	60.17M	147.24M

This table shows Sable Offshore's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	6/30/2023	9/30/2023	12/31/2023	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Income / (Loss) Attributable to Common Shareholders	-22	-23	-25	-165	-256	-110	-128	-110	-62	-197	-64
Consolidated Net Income / (Loss)	-22	-23	-25	-165	-256	-110	-128	-110	-62	-197	-64
Net Income / (Loss) Continuing Operations	-22	-23	-25	-165	-256	-110	-128	-110	-62	-197	-64
Total Pre-Tax Income	-22	-23	-25	-160	-255	-99	-120	-104	-76	-197	-37
Total Operating Income	-22	-23	-26	-62	-55	-60	-129	-119	-100	-119	-67
Total Gross Profit	0.00	0.00	15	0.00	0.00	-34	0.00	0.00	34	-67	137
Total Revenue	0.00	0.00	-	0.00	0.00	0.00	0.00	0.00	-	1.27	137
Operating Revenue	0.00	0.00	-	0.00	0.00	0.00	0.00	0.00	-	1.27	137
Total Cost of Revenue	0.00	0.00	-15	0.00	0.00	34	0.00	0.00	-34	68	0.00
Total Operating Expenses	22	23	41	62	55	25	129	119	135	52	204
Selling, General & Admin Expense	2.95	3.02	3.66	33	26	22	75	37	42	48	59
Depreciation Expense	5.25	5.26	5.25	2.72	2.76	3.02	3.17	3.26	3.44	3.94	32
Other Operating Expenses / (Income)	14	14	-	26	26	-	50	79	-	-	113
Total Other Income / (Expense), net	0.01	-0.54	1.32	-98	-200	-39	8.65	16	24	-78	30
Interest Expense	0.00	0.00	-	19	19	21	21	21	25	35	43
Other Income / (Expense), net	0.01	-0.54	1.32	-79	-181	-18	30	37	50	-44	73
Income Tax Expense	0.00	0.00	-	5.15	0.87	11	7.82	6.63	-14	0.00	27
Basic Earnings per Share	$0.00	$0.00	-	($2.75)	($4.11)	($1.30)	($1.40)	($1.11)	($0.37)	($1.37)	($0.42)
Weighted Average Basic Shares Outstanding	0.00	0.00	0.00	60.17M	62.17M	84.44M	91.22M	99.49M	98.18M	143.67M	153.47M
Diluted Earnings per Share	$0.00	$0.00	-	($2.75)	($4.11)	($1.30)	($1.40)	($1.11)	($0.37)	($1.37)	($0.42)
Weighted Average Diluted Shares Outstanding	0.00	0.00	0.00	60.17M	62.17M	84.44M	91.22M	99.49M	98.18M	143.67M	153.47M
Weighted Average Basic & Diluted Shares Outstanding	15.62M	-	60.17M	64.85M	89.10M	89.41M	99.51M	144.96M	147.24M	154.36M	191.87M

This table details how cash moves in and out of Sable Offshore's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2021	2022	2023	2025
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2025
Net Change in Cash & Equivalents	0.31	-0.22	0.00	-238
Net Cash From Operating Activities	-2.01	-1.71	-70	-352
Net Cash From Continuing Operating Activities	-2.01	-1.71	-70	-352
Net Income / (Loss) Continuing Operations	4.27	-2.59	-94	-410
Consolidated Net Income / (Loss)	4.27	-2.59	-94	-410
Depreciation Expense	-	-	21	13
Amortization Expense	-	-	0.00	2.16
Non-Cash Adjustments To Reconcile Net Income	-5.96	-4.32	4.79	47
Changes in Operating Assets and Liabilities, net	-0.33	5.19	-2.23	-3.34
Net Cash From Investing Activities	-288	0.79	0.00	-418
Net Cash From Continuing Investing Activities	-288	0.79	0.00	-418
Purchase of Property, Plant & Equipment	-	-	0.00	-418
Acquisitions	-	-	0.00	0.00
Net Cash From Financing Activities	290	0.71	70	531
Net Cash From Continuing Financing Activities	290	0.71	70	531
Repayment of Debt	-0.08	-	0.00	0.00
Repurchase of Common Equity	-0.80	0.00	0.00	-14
Issuance of Common Equity	290	-	0.00	545
Other Financing Activities, net	-	-	70	0.00

This table details how cash moves in and out of Sable Offshore's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Change in Cash & Equivalents	-0.04	0.00	-	-	-	-111	58	-241	56	-46	-31
Net Cash From Operating Activities	-0.88	-20	-17	-17	-15	-48	-95	-111	-98	-82	9.42
Net Cash From Continuing Operating Activities	-0.88	-20	-17	-17	-15	-48	-95	-111	-98	-82	9.42
Net Income / (Loss) Continuing Operations	-12	-23	-22	-23	-25	-110	-128	-110	-62	-197	-64
Consolidated Net Income / (Loss)	-12	-23	-22	-23	-25	-110	-128	-110	-62	-197	-64
Depreciation Expense	-	5.26	5.25	5.26	5.25	3.02	3.17	3.26	3.44	3.94	32
Amortization Expense	-	0.00	-	-	-	0.56	0.57	0.57	0.46	0.47	8.86
Non-Cash Adjustments To Reconcile Net Income	7.28	0.00	0.61	0.30	3.88	59	19	4.89	-26	91	0.99
Changes in Operating Assets and Liabilities, net	3.49	-1.81	-1.00	0.09	0.49	-1.07	10	-8.97	-14	20	32
Net Cash From Investing Activities	0.47	0.00	-	-	-	-63	-130	-130	-95	-21	-32
Net Cash From Continuing Investing Activities	0.47	0.00	-	-	-	-63	-130	-130	-95	-21	-32
Purchase of Property, Plant & Equipment	-	0.00	-	-	-	-63	-130	-130	-95	-21	-32
Net Cash From Financing Activities	0.37	20	17	17	15	-0.04	283	-0.41	249	58	-8.48
Net Cash From Continuing Financing Activities	0.37	20	17	17	15	-0.04	283	-0.41	249	58	-8.48
Repayment of Debt	-	0.00	-	-	-	0.00	-	-	-	-0.20	-30
Repurchase of Common Equity	-	0.00	-	-	-	-0.04	-12	-0.41	-1.29	-14	-0.57
Issuance of Common Equity	-	0.00	-	-	-	0.00	295	-	250	72	23

This table presents Sable Offshore's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	0.30	288	291	712	1,583	1,741
Total Current Assets	0.30	0.84	0.19	16	355	136
Cash & Equivalents	0.01	0.32	0.10	0.00	300	98
Accounts Receivable	-	-	-	-	-	0.00
Inventories, net	-	-	-	16	15	27
Prepaid Expenses	0.00	0.52	0.09	0.00	4.17	11
Plant, Property, & Equipment, net	0.00	0.00	0.00	689	1,194	1,561
Plant, Property & Equipment, gross	-	-	-	4,382	1,194	1,567
Accumulated Depreciation	-	-	-	3,693	0.00	5.98
Total Noncurrent Assets	0.00	288	291	6.40	33	44
Other Noncurrent Operating Assets	0.00	288	291	6.40	33	44
Total Liabilities & Shareholders' Equity	0.30	288	291	712	1,583	1,741
Total Liabilities	0.28	14	19	373	1,199	1,207
Total Current Liabilities	0.28	1.23	6.74	18	121	1,023
Short-Term Debt	0.04	0.96	1.78	-	0.00	922
Accounts Payable	-	-	-	5.38	120	99
Other Current Liabilities	-	-	-	13	0.92	2.49
Total Noncurrent Liabilities	0.00	13	12	355	1,078	183
Long-Term Debt	-	-	-	0.00	834	0.00
Asset Retirement Reserve & Litigation Obligation	-	-	-	349	100	113
Noncurrent Deferred & Payable Income Tax Liabilities	-	-	-	0.00	1.16	13
Other Noncurrent Operating Liabilities	0.00	13	12	5.52	144	57
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	0.02	-13	-18	339	384	534
Total Preferred & Common Equity	0.02	-13	-18	339	384	534
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	0.02	-13	-18	339	384	534
Common Stock	0.03	0.00	0.00	0.00	1,082	1,643
Retained Earnings	-0.00	-13	-18	0.00	-698	-1,108

This table presents Sable Offshore's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026	6/30/2026
Total Assets	289	87	88	1,296	1,241	1,473	1,562	1,772	1,650	1,730	1,762
Total Current Assets	0.38	0.44	0.24	229	167	344	245	308	78	85	107
Cash & Equivalents	0.14	0.13	0.09	209	112	288	189	247	42	52	22
Accounts Receivable	-	-	-	-	-	-	-	-	-	1.54	50
Inventories, net	-	-	-	17	17	16	15	20	25	21	26
Prepaid Expenses	0.24	0.20	0.14	3.40	3.35	4.83	5.49	4.98	11	11	9.97
Plant, Property, & Equipment, net	0.00	0.00	0.00	1,061	1,068	1,111	1,283	1,427	1,533	1,602	1,611
Plant, Property & Equipment, gross	-	-	-	1,061	1,068	1,111	1,283	1,429	1,538	1,611	1,651
Accumulated Depreciation	-	-	-	0.00	0.00	0.00	0.00	1.81	5.44	9.93	39
Total Noncurrent Assets	289	87	87	5.83	5.50	18	34	37	39	43	43
Other Noncurrent Operating Assets	289	87	87	5.83	5.50	18	34	37	39	43	43
Total Liabilities & Shareholders' Equity	289	87	88	1,296	1,241	1,473	1,562	1,772	1,650	1,730	1,762
Total Liabilities	5.52	21	16	1,031	1,119	1,306	1,281	1,326	1,302	1,308	1,367
Total Current Liabilities	2.88	11	11	82	61	98	147	1,062	1,062	1,078	446
Short-Term Debt	1.26	2.28	2.19	-	-	-	-	876	897	956	237
Accounts Payable	-	-	-	0.00	58	96	146	186	164	117	207
Other Current Liabilities	-	-	-	1.46	1.30	0.36	1.03	1.11	1.43	4.23	2.93
Total Noncurrent Liabilities	2.64	11	5.88	949	1,058	1,207	1,135	264	240	230	920
Long-Term Debt	-	-	-	771	790	814	855	0.00	0.00	-	732
Asset Retirement Reserve & Litigation Obligation	-	-	-	91	94	97	103	106	109	116	120
Noncurrent Deferred & Payable Income Tax Liabilities	-	-	-	15	20	21	12	20	26	13	40
Other Noncurrent Operating Liabilities	2.64	11	5.88	72	153	275	165	139	105	101	29
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-4.58	-20	-15	265	122	167	281	446	348	422	395
Total Preferred & Common Equity	-4.58	-20	-15	265	122	167	281	446	348	422	395
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	-4.58	-20	-15	265	122	167	281	446	348	422	395
Common Stock	0.00	0.00	0.00	526	549	850	1,089	1,382	1,394	1,727	1,765
Retained Earnings	-4.58	-20	-15	-261	-427	-682	-808	-936	-1,046	-1,305	-1,370

This table displays calculated financial ratios and metrics derived from Sable Offshore's official financial filings.

Metric	2021	2022	2023	2025
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2025
DEI Shares Outstanding	-	-	-	144,961,796.00
DEI Adjusted Shares Outstanding	-	-	-	144,961,796.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-2.83
Growth Metrics	-	-	-	-
Profitability Metrics	-	-	-	-
Net Operating Profit after Tax (NOPAT)	-1.68	-4.31	-66	-286
Return On Investment Capital (ROIC_SIMPLE)	-	-	-19.51%	-19.63%
Earnings before Interest and Taxes (EBIT)	4.26	-5.82	-94	-310
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	4.26	-5.82	-73	-295
Valuation Ratios	-	-	-	-
Leverage & Solvency	-	-	-	-
Liquidity Ratios	-	-	-	-
Cash Flow Metrics	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-2.81	-131	0.00
Efficiency Ratios	-	-	-	-
Capital & Investment Metrics	-	-	-	-
Invested Capital	275	274	339	1,358
Increase / (Decrease) in Invested Capital	0.00	-1.49	65	0.00
Book Value per Share	($0.36)	($0.51)	$21.70	$3.69
Tangible Book Value per Share	($0.36)	($0.51)	$21.70	$3.69
Total Capital	276	274	339	1,456
Total Debt	0.96	1.78	0.00	922
Total Long-Term Debt	0.00	0.00	0.00	0.00
Net Debt	0.63	1.68	0.00	824
Capital Expenditures (CapEx)	0.00	0.00	0.00	418
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.25	-4.87	-1.69	-64
Debt-free Net Working Capital (DFNWC)	0.57	-4.77	-1.69	34
Net Working Capital (NWC)	-0.39	-6.55	-1.69	-888
Net Nonoperating Expense (NNE)	-5.96	-1.71	28	124
Net Nonoperating Obligations (NNO)	0.63	1.68	0.00	824
Total Depreciation and Amortization (D&A)	0.00	0.00	21	15
Earnings Adjustments	-	-	-	-
Adjusted Basic Earnings per Share	$0.28	($0.14)	($3.56)	($4.18)
Adjusted Weighted Average Basic Shares Outstanding	35.94M	35.94M	18.06M	98.18M
Adjusted Diluted Earnings per Share	$0.28	($0.14)	($3.56)	($4.18)
Adjusted Weighted Average Diluted Shares Outstanding	35.94M	35.94M	18.06M	98.18M
Adjusted Basic & Diluted Earnings per Share	$0.28	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	31.61M	15.62M	60.17M	147.24M
Normalized Net Operating Profit after Tax (NOPAT)	-1.18	-4.31	-66	-286
Debt Service Ratios	-	-	-	-
Payout Ratios	-	-	-	-

This table displays calculated financial ratios and metrics derived from Sable Offshore's official financial filings.

Metric	Q2 2023	Q3 2023	Q4 2023	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	6/30/2023	9/30/2023	12/31/2023	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	144,961,796.00	147,244,086.00	154,362,910.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	144,961,796.00	147,244,086.00	154,362,910.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-0.43	-1.34	-0.42
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%	0.00%
EBITDA Growth	-790.25%	-1,862.96%	-43.97%	-711.47%	-1,206.66%	0.00%	31.00%	66.10%	-	-113.25%	148.91%
EBIT Growth	-1,002.91%	-2,441.99%	-82.07%	-532.56%	-920.96%	0.00%	29.68%	64.87%	-	-109.09%	105.87%
NOPAT Growth	-4,999.11%	-2,272.39%	-538.88%	-178.89%	-142.33%	0.00%	-107.10%	-118.61%	-	-98.60%	48.10%
Net Income Growth	-889.68%	-11,931.29%	-115.54%	-641.60%	-1,007.80%	0.00%	22.59%	56.81%	-	-79.86%	49.86%
EPS Growth	-100.00%	100.00%	0.00%	0.00%	0.00%	0.00%	49.09%	72.99%	-	-5.38%	70.00%
Operating Cash Flow Growth	-5,376.33%	-8,224.85%	-1,665.42%	0.00%	0.00%	0.00%	0.00%	0.00%	-	-71.53%	109.91%
Free Cash Flow Firm Growth	1,047.96%	2,938.61%	-5,871.26%	-475.20%	-358.97%	0.00%	50.60%	9.83%	-	0.00%	3.50%
Invested Capital Growth	-74.30%	0.00%	23.87%	944.95%	0.00%	0.00%	35.69%	82.71%	-	45.59%	29.26%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%	10,688.75%
EBITDA Q/Q Growth	4.88%	-4.46%	-11.47%	0.00%	-68.21%	0.00%	-28.93%	17.37%	-	-238.03%	129.57%
EBIT Q/Q Growth	3.77%	-3.42%	-8.85%	0.00%	-66.91%	0.00%	-27.79%	16.62%	-	-220.72%	103.59%
NOPAT Q/Q Growth	3.76%	-0.99%	-17.31%	0.00%	12.25%	0.00%	-115.55%	7.37%	-	-18.50%	43.67%
Net Income Q/Q Growth	3.82%	-3.42%	-8.81%	0.00%	-54.48%	0.00%	-16.91%	13.81%	-	-216.89%	67.41%
EPS Q/Q Growth	0.00%	0.00%	0.00%	0.00%	-49.45%	0.00%	-7.69%	20.71%	-	-270.27%	69.34%
Operating Cash Flow Q/Q Growth	11.67%	0.09%	11.17%	0.00%	0.00%	0.00%	-98.21%	-16.43%	-	16.21%	111.45%
Free Cash Flow Firm Q/Q Growth	-0.81%	37.21%	-131.16%	0.00%	5.29%	0.00%	0.00%	-72.87%	-	0.00%	29.63%
Invested Capital Q/Q Growth	7.61%	-100.00%	0.00%	0.00%	-13.96%	0.00%	14.02%	15.85%	-	-2.37%	1.23%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	-5,252.71%	100.00%
EBITDA Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	-12,427.07%	34.06%
Operating Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	-9,343.35%	-48.78%
EBIT Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	-12,774.04%	4.25%
Profit (Net Income) Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	-15,501.65%	-46.83%
Tax Burden Percent	100.00%	100.00%	100.00%	103.21%	100.34%	111.03%	106.51%	106.39%	-	100.00%	172.44%
Interest Burden Percent	100.00%	100.00%	99.96%	113.59%	108.14%	127.06%	121.17%	125.39%	-	121.35%	-639.08%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	-7.43%	-3.97%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	-22.28%	-6.23%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	-48.65%	-11.41%
Return on Equity (ROE)	-32.30%	0.00%	-30.66%	0.00%	0.00%	0.00%	0.00%	0.00%	-	-56.09%	-15.38%
Cash Return on Invested Capital (CROIC)	98.30%	0.00%	-42.91%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%	0.00%
Operating Return on Assets (OROA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	-9.86%	0.33%
Return on Assets (ROA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	-11.97%	-3.67%
Return on Common Equity (ROCE)	1.75%	0.00%	-16.09%	0.00%	0.00%	0.00%	0.00%	0.00%	-	-56.09%	-15.38%
Return on Equity Simple (ROE_SIMPLE)	370.12%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-16	-16	-19	-44	-38	-42	-90	-84	-70	-83	-47
NOPAT Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	-6,540.35%	-34.15%
Net Nonoperating Expense Percent (NNEP)	425.06%	0.00%	785.58%	37.77%	88.54%	10.74%	6.12%	3.98%	-	14.85%	2.26%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-5.46%	-	-	-3.69%	-6.83%	-6.71%	-4.82%	-6.03%	-3.43%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	5,352.71%	0.00%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	3,780.49%	42.68%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%	0.00%
Operating Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	4,090.64%	148.78%
Earnings before Interest and Taxes (EBIT)	-22	-23	-25	-141	-236	-78	-99	-83	-51	-162	5.83
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-17	-18	-20	-138	-233	-74	-95	-79	-47	-158	47
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	7.43	9.15	8.08	4.41	4.99	-	5.77	1.20
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	7.43	9.15	8.08	4.41	4.99	-	5.77	1.20
Price to Revenue (P/Rev)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	1,913.83	3.44
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	2.03	3.07	3.18	2.46	2.15	-	2.52	1.06
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	2,625.14	10.28
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.03	0.00	0.00	6.48	4.86	3.04	1.96	2.58	-	2.27	2.45
Long-Term Debt to Equity	0.00	0.00	0.00	6.48	4.86	3.04	0.00	0.00	-	0.00	1.85
Financial Leverage	0.01	0.00	0.00	3.34	2.93	2.24	2.18	2.61	-	2.18	1.83
Leverage Ratio	1.06	0.00	1.64	6.88	8.79	5.24	5.31	6.06	-	4.69	4.20
Compound Leverage Factor	1.06	0.00	1.64	7.81	9.51	6.66	6.43	7.59	-	5.69	-26.86
Debt to Total Capital	2.99%	0.00%	0.00%	86.62%	82.94%	75.27%	66.27%	72.03%	-	69.39%	71.04%
Short-Term Debt to Total Capital	2.99%	0.00%	0.00%	0.00%	0.00%	0.00%	66.27%	72.03%	-	69.39%	17.36%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	86.62%	82.94%	75.27%	0.00%	0.00%	-	0.00%	53.68%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%	0.00%
Noncontrolling Interests to Total Capital	118.14%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%	0.00%
Common Equity to Total Capital	-21.13%	0.00%	100.00%	13.38%	17.06%	24.73%	33.73%	27.97%	-	30.61%	28.96%
Debt to EBITDA	-0.04	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	-2.52	-4.09
Net Debt to EBITDA	-0.03	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	-2.39	-4.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00	-3.09
Debt to NOPAT	-0.06	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	-2.92	-3.42
Net Debt to NOPAT	-0.06	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	-2.76	-3.34
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00	-2.58
Altman Z-Score	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	-0.94	-1.02
Noncontrolling Interest Sharing Ratio	105.41%	0.00%	47.52%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.02	0.00	0.91	2.73	3.50	1.67	0.29	0.07	-	0.08	0.24
Quick Ratio	0.01	0.00	0.00	1.83	2.93	1.29	0.23	0.04	-	0.05	0.16
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	196	269	-84	-736	-697	0.00	-363	-628	0.00	-498	-351
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%	0.00%	-75.72%	-73.27%	-85.02%	-	-390.61%	29.89%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	-38.36	-36.34	0.00	-17.30	-29.90	-	-14.37	-8.14
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	-2.28	-4.52	-5.27	-	-2.37	0.22
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	-5.29	-10.70	-11.46	-	-2.98	-0.51
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00	0.08
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	1.88	1.46
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00	0.09
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.26	0.17
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	194.45	250.78
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	1,430.15	2,132.23
Cash Conversion Cycle (CCC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	-1,235.70	-1,881.46
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	73	0.00	339	765	658	911	1,038	1,203	1,358	1,326	1,342
Invested Capital Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00	0.12
Increase / (Decrease) in Invested Capital	-212	-285	65	692	658	0.00	273	545	0.00	415	304
Enterprise Value (EV)	0.00	0.00	0.00	1,550	2,023	2,898	2,558	2,592	-	3,337	1,423
Market Capitalization	0.00	0.00	0.00	907	1,532	2,268	1,965	1,737	-	2,432	475
Book Value per Share	($0.99)	$0.00	$21.70	$2.03	$2.58	$3.14	$4.98	$3.50	$3.69	$2.87	$2.56
Tangible Book Value per Share	($0.99)	$0.00	$21.70	$2.03	$2.58	$3.14	$4.98	$3.50	$3.69	$2.87	$2.56
Total Capital	73	0.00	339	912	982	1,135	1,321	1,245	1,456	1,378	1,364
Total Debt	2.19	0.00	0.00	790	814	855	876	897	922	956	969
Total Long-Term Debt	0.00	0.00	0.00	790	814	855	0.00	0.00	0.00	0.00	732
Net Debt	2.10	0.00	0.00	643	491	630	593	855	824	904	947
Capital Expenditures (CapEx)	0.00	0.00	0.00	0.00	0.00	63	130	130	95	21	32
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-8.17	0.00	-1.69	-41	-78	-126	-161	-129	-64	-89	-124
Debt-free Net Working Capital (DFNWC)	-8.08	0.00	-1.69	106	246	98	121	-87	34	-37	-102
Net Working Capital (NWC)	-10	0.00	-1.69	106	246	98	-754	-984	-888	-993	-339
Net Nonoperating Expense (NNE)	6.69	7.30	6.60	122	217	68	38	27	-7.98	114	17
Net Nonoperating Obligations (NNO)	2.10	0.00	0.00	643	491	630	593	855	824	904	947
Total Depreciation and Amortization (D&A)	5.25	5.26	5.25	2.72	2.76	3.58	3.74	3.83	3.90	4.41	41
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	-6,979.78%	-89.50%
Debt-free Net Working Capital to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	-2,875.30%	-73.89%
Net Working Capital to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	-78,111.49%	-244.96%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.64	$0.00	$0.00	($2.75)	($4.11)	($1.30)	($1.40)	($1.11)	($0.37)	($1.37)	($0.42)
Adjusted Weighted Average Basic Shares Outstanding	15.62M	0.00	0.00	60.17M	62.17M	84.44M	91.22M	99.49M	98.18M	143.67M	153.47M
Adjusted Diluted Earnings per Share	$0.64	$0.00	$0.00	($2.75)	($4.11)	($1.30)	($1.40)	($1.11)	($0.37)	($1.37)	($0.42)
Adjusted Weighted Average Diluted Shares Outstanding	15.62M	0.00	0.00	60.17M	62.17M	84.44M	91.22M	99.49M	98.18M	143.67M	153.47M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	15.62M	0.00	60.17M	64.85M	89.10M	89.41M	99.51M	144.96M	147.24M	154.36M	191.87M
Normalized Net Operating Profit after Tax (NOPAT)	-16	-16	-19	-44	-38	-42	-90	-84	-70	-83	-47
Normalized NOPAT Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	-6,540.35%	-34.15%
Pre Tax Income Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	-15,501.65%	-27.16%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	-7.36	-12.29	-3.70	-4.72	-3.94	-	-4.68	0.14
NOPAT to Interest Expense	0.00	0.00	0.00	-2.27	-1.99	-1.99	-4.29	-3.98	-	-2.40	-1.09
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	-6.71	-10.90	-10.13	-	-5.29	-0.60
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	-5.01	-10.47	-10.17	-	-3.01	-1.82
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	-5.66%	-3.85%

Financials Breakdown Chart

Sable Offshore Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Sable Offshore's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Sable Offshore's net income appears to be on an upward trend, with a most recent value of -$410.16 million in 2025, falling from $4.27 million in 2021. The previous period was -$93.67 million in 2023. Find out what analysts predict for Sable Offshore in the coming months.

Sable Offshore's total operating income in 2025 was -$408.28 million, based on the following breakdown:

Total Gross Profit: $0.00
Total Operating Expenses: $408.28 million

Over the last 3 years, Sable Offshore's total revenue changed from $0.00 in 2021 to $0.00 in 2025, a change of 0.0%.

Sable Offshore's total liabilities were at $1.21 billion at the end of 2025, a 0.6% increase from 2024, and a 429,449.6% increase since 2020.

In the past 5 years, Sable Offshore's cash and equivalents has ranged from $0.00 in 2023 to $300.38 million in 2024, and is currently $97.68 million as of their latest financial filing in 2025.

Over the last 3 years, Sable Offshore's book value per share changed from -0.36 in 2021 to 3.69 in 2025, a change of -1,123.5%.

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Financial statements for NYSE:SOC last updated on 8/11/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Sable Offshore (SOC) Financials

Financials Breakdown Chart

Sable Offshore Financials - Frequently Asked Questions

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Sable Offshore (SOC) Financials

Annual Income Statements for Sable Offshore

Quarterly Income Statements for Sable Offshore

Annual Cash Flow Statements for Sable Offshore

Quarterly Cash Flow Statements for Sable Offshore

Annual Balance Sheets for Sable Offshore

Quarterly Balance Sheets for Sable Offshore

Annual Metrics And Ratios for Sable Offshore

Quarterly Metrics And Ratios for Sable Offshore

Financials Breakdown Chart

Sable Offshore Financials - Frequently Asked Questions

When does Sable Offshore's financial year end?

How has Sable Offshore's net income changed over the last 3 years?

What is Sable Offshore's operating income?

How has Sable Offshore's revenue changed over the last 3 years?

How much debt does Sable Offshore have?

How much cash does Sable Offshore have?

How has Sable Offshore's book value per share changed over the last 3 years?

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