Tearsheet

EON Resources (EONR)

Market Price (4/28/2026): $0.78 | Market Cap: $29.7 Mil
Sector: Energy | Industry: Oil & Gas Exploration & Production

EON Resources (EONR)

Market Price (4/28/2026): $0.78
Market Cap: $29.7 Mil
Sector: Energy
Industry: Oil & Gas Exploration & Production

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Megatrend and thematic drivers
Megatrends include Battery Technology & Metals, Energy Transition & Decarbonization, and Hydrogen Economy. Themes include Rare Earth Elements, Show more.

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -5.4 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -31%

Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -23%, Rev Chg QQuarterly Revenue Change % is -16%

Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 13%

Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -53%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -153%

Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 158%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -13%

Significant short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 20%

Key risks
EONR key risks include [1] persistent unprofitability and declining revenue, Show more.

0	Megatrend and thematic drivers Megatrends include Battery Technology & Metals, Energy Transition & Decarbonization, and Hydrogen Economy. Themes include Rare Earth Elements, Show more.
1	Not profitable at operating income level Op Inc LTMOperating Income, Last Twelve Months is -5.4 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -31%
2	Weak revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -23%, Rev Chg QQuarterly Revenue Change % is -16%
3	Significant share based compensation SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 13%
4	Not cash flow generative CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -53%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -153%
5	Valuation getting more expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 158%
6	Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -13%
7	Significant short interest Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 20%
8	Key risks EONR key risks include [1] persistent unprofitability and declining revenue, Show more.

Valuation, Metrics & Events

	4/28/26	2025	2024	2023	2022	2021
Share Price CYE	$0.78	$0.38	$0.82	$2.02	$10.23	�
Market Cap CYE ($ Mil)	29.7	14.6	4.7	15.2	30.8	-
Total Debt ($ Mil)	5.4	5.4	43.6	0.9	0.0	0.0
Total Cash ($ Mil)	0.9	0.9	2.7	0.8	0.3	0.0
Enterprise Value ($ Mil)	34.2	20.0	48.3	16.1	30.8
Valuation Ratios
P/S TTM	1.7	0.8	0.2	0.3	-	-
P/EBIT TTM	3.1	1.5	3.8	0.6	-40.4	-
P/E TTM	-11.7	-5.8	-1.0	0.6	-40.4	-
P/FCF TTM	-1.1	-0.6	2.1	0.7	-29.2	-
Sector Ratios
P/S TTM (Sector)	1.9	1.4	1.5	1.6	1.3	1.3
P/EBIT TTM (Sector)	9.0	6.9	6.6	5.9	3.9	4.9
P/E TTM (Sector)	12.7	10.4	10.3	8.3	5.0	4.0
P/FCF TTM (Sector)	10.8	8.1	6.9	7.5	5.1	5.3

	4/28/26	2025	2024
Share Price CYE	$0.78	$0.38	$0.82
Market Cap CYE ($ Mil)	29.7	14.6	4.7
Total Debt ($ Mil)	5.4	5.4	43.6
Total Cash ($ Mil)	0.9	0.9	2.7
Enterprise Value ($ Mil)	34.2	20.0	48.3
Valuation Ratios
P/S TTM	1.7	0.8	0.2
P/EBIT TTM	3.1	1.5	3.8
P/E TTM	-11.7	-5.8	-1.0
P/FCF TTM	-1.1	-0.6	2.1
Sector Ratios
P/S TTM (Sector)	1.9	1.4	1.5
P/EBIT TTM (Sector)	9.0	6.9	6.6
P/E TTM (Sector)	12.7	10.4	10.3
P/FCF TTM (Sector)	10.8	8.1	6.9

	EONR	S&P 500
REVENUE GROWTH	VERY POOR
Rev LTM ($ Bil)	0.0
Rev Chg Q	-16.0%	7.5%
Rev Chg LTM	-23.4%	6.9%
Rev Chg 3Y Avg	-41.0%	5.7%
PROFITABILITY	VERY POOR
Op Inc LTM ($ Bil)	-0.0
CFO LTM ($ Bil)	-0.0
Net Inc LTM ($ Bil)	-0.0
Op Mgn LTM	-31.1%	18.6%
CFO/Rev LTM	-52.9%	20.9%
Net Inc Mgn	-14.6%	12.8%
VALUATION	LOW
P/S	1.7	3.3
P/CFO	-3.2	15.4
P/FCF	-1.1	19.8
P/E	-11.7	24.3
STABILITY	FAIR
Debt/Equity	0.18	0.21
Cash/Assets	0.01	0.07

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Metric	Value	Date	Source
Daily Oil Production	950 barrels per day	4232025	Link
Identified Well Locations	50	4232025	Link
Potential Untapped Oil Barrels	20 million	4232025	Link
Hedged Production Percentage	70%	4232025	Link

Upcoming
4/28/2026	Earnings Release	Rev: $11 Mil (E) EPS: $-0.04 (E)

Price Chart

Return (1M):

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Why The Stock Moved

Qualitative Assessment

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EON Resources (EONR) stock has gained about 85% since 12/31/2025 because of the following key factors:

1. Strengthened Financial Position and Debt Reduction. EON Resources significantly improved its balance sheet by retiring $41 million in senior and seller debt and eliminating $27 million in preferred shares, leading to a $22.7 million increase in shareholder equity. The company also reduced its overall debt by $3 million through the conversion of warrant liabilities and private loan obligations into long-term convertible notes.

2. Aggressive Production Growth Strategy and Drilling Program. EON Resources initiated a 2026 drilling program in the Permian Basin, focusing on the San Andres formation. This program includes recompleting 5 existing vertical wells and plans for 92 new horizontal wells over the next four to five years. The company anticipates an additional 500 barrels of oil per day (BOPD) from the recompletions and initial three horizontal wells, which could generate an extra $1.3 million per month in revenue at $90 oil prices.

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Stock Movement Drivers

Fundamental Drivers

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Market Drivers

12/31/2025 to 4/27/2026

	Return	Correlation
EONR	85.7%
Market (SPY)	4.2%	-35.9%
Sector (XLE)	27.2%	34.0%

Fundamental Drivers

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Market Drivers

9/30/2025 to 4/27/2026

	Return	Correlation
EONR	46.2%
Market (SPY)	7.0%	-25.7%
Sector (XLE)	28.4%	31.7%

Fundamental Drivers

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Market Drivers

3/31/2025 to 4/27/2026

	Return	Correlation
EONR	48.2%
Market (SPY)	28.1%	-10.7%
Sector (XLE)	24.8%	24.6%

Fundamental Drivers

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Market Drivers

3/31/2023 to 4/27/2026

	Return	Correlation
EONR	-93.2%
Market (SPY)	79.8%	-3.2%
Sector (XLE)	50.4%	13.6%

Return vs. Risk

Price Returns Compared

	2021	2022	2023	2024	2025	2026	Total [1]
Returns
EONR Return	-	2%	-80%	-60%	-53%	86%	-93%
Peers Return	143%	57%	-2%	0%	-34%	41%	245%
S&P 500 Return	27%	-19%	24%	23%	16%	5%	91%
Monthly Win Rates [3]
EONR Win Rate	-	44%	75%	42%	33%	75%
Peers Win Rate	67%	58%	50%	48%	46%	70%
S&P 500 Win Rate	75%	42%	67%	75%	67%	50%
Max Drawdowns [4]
EONR Max Drawdown	-	-1%	-85%	-74%	-66%	-10%
Peers Max Drawdown	-16%	0%	-25%	-12%	-44%	-6%
S&P 500 Max Drawdown	-1%	-25%	-1%	-2%	-15%	-7%

[1] Cumulative total returns since the beginning of 2021
[2] Peers: PR, HPK, SM, FANG, OXY.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 4/27/2026 (YTD)

How Low Can It Go

Unique Key	Event	EONR	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-87.1%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	676.9%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	Not Fully Recovered days	464 days

Compare to PR, HPK, SM, FANG, OXY

In The Past

EON Resources's stock fell -87.1% during the 2022 Inflation Shock from a high on 10/27/2023. A -87.1% loss requires a 676.9% gain to breakeven.

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Asset Allocation

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About EON Resources (EONR)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

EON Resources Inc., an independent oil and natural gas company, focuses on the acquisition, development, exploration, and production of oil and natural gas properties in the Permian Basin. It holds a 100% working interest in the property that consists of 343 wells producing oil and gas, as well as 207 injection wells covering an area of approximately 13,700 contiguous acres. The company was formerly known as HNR Acquisition Corp and changed its name atop EON Resources Inc. in September 2024. EON Resources Inc. was incorporated in 2020 and is headquartered in Houston, Texas.

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Here are 1-3 brief analogies for EON Resources:

EON Resources is like a focused, independent oil and gas producer, similar to a smaller Pioneer Natural Resources concentrating all its efforts in the Permian Basin.
Think of EON Resources as an agile, regional version of a major independent energy company like EOG Resources, but exclusively developing properties in the Permian.

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Crude Oil: EON Resources Inc. produces crude oil from its properties in the Permian Basin.
Natural Gas: EON Resources Inc. produces natural gas from its properties in the Permian Basin.

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EON Resources Inc. is an independent oil and natural gas company focused on the acquisition, development, exploration, and production of crude oil and natural gas. As an upstream producer, EON Resources primarily extracts raw commodities from the earth. Therefore, EON Resources sells its products (crude oil and natural gas) to other companies in the energy value chain, rather than directly to individuals. Identifying the specific major customers of EON Resources without access to their detailed financial filings (such as 10-K reports, which might list significant customers if they account for a material portion of revenue) is not publicly available information. However, the major categories of companies that would typically purchase crude oil and natural gas from a producer like EON Resources include:

Midstream Companies: These companies own and operate the infrastructure for processing, storing, and transporting crude oil and natural gas, such as pipelines, gathering systems, and processing plants. They often act as aggregators and marketers of these commodities.
Refineries and Petrochemical Companies: Refineries purchase crude oil to process it into refined products like gasoline, diesel, jet fuel, and other petroleum products. Petrochemical companies use natural gas liquids (NGLs) and other feedstocks derived from oil and gas to produce plastics, chemicals, and other industrial products.
Natural Gas Utilities and Power Generators: Natural gas is sold to utility companies for distribution to residential and commercial customers, and to power generation plants that use natural gas as fuel to produce electricity.

Without specific disclosures from EON Resources, it is not possible to list the names of their particular major customer companies or their symbols.

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Dante Caravaggio, CEO and Director

Mr. Caravaggio has over 40 years of experience in the oil and gas industry, holding executive and program management positions with companies such as Kellogg Brown and Root, Parsons Corp, Jacobs Engineering, and Sun Oil. He has gained global market knowledge in various energy sectors and has hands-on international experience across North America, Asia, and the Middle East. Mr. Caravaggio has been an integral player in several high-value acquisitions throughout his career and has built strong relationships with investors, clients, and suppliers. He was appointed CEO in December 2023 and has consistently purchased shares in EON Resources.

Mitchell B. Trotter, CFO and Director

Mr. Trotter possesses over 40 years of experience in various controller and CFO roles, beginning his career in 1981 with Coopers & Lybrand. His extensive experience is primarily within the engineering and construction industry, with a majority of his time spent with public companies. In his previous roles, Mr. Trotter managed up to 400 staff across six continents, supporting global operations for clients in diverse industries, including oil and gas and chemicals. He has also consistently purchased shares in EON Resources.

David M. Smith, Esq., Vice President, General Counsel and Secretary

Mr. Smith is a licensed attorney in Texas with over 40 years of experience in the legal field, focusing on oil and gas exploration and production, manufacturing, and purchase and sale agreements. He has represented numerous companies in significant oil and gas transactions, mergers and acquisitions, intellectual property research and development, and sales within the oil and gas drilling business sector.

Jesse J. Allen, Vice President of Operations

Mr. Allen brings over 40 years of experience in operating and managing onshore and offshore oil and production both in the U.S. and internationally. His expertise spans artificial lift, completions, well stimulation, workovers, and managing operationally challenging wells in high-temperature and high-pressure environments, in addition to extensive project management. He has worked for several key companies in the oil and gas industry, including Sun Production Company (which later became Oryx Energy, Kerr McGee, and Anadarko Petroleum) and Chesapeake Energy.

Mark H. Williams, Vice President of Finance & Administration and Corporate Controller

Mr. Williams has more than 30 years of experience in various controller-type roles within major global public companies. He offers considerable knowledge and experience in supporting business operations, budgeting and forecasting, systems design, purchasing, client contracts, and sales support. Mr. Williams has been involved in audits, SOX compliance, policy design, acquisitions and integrations, and system enhancements, among other financial matters.

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The key risks to EON Resources (EONR) are as follows:

Commodity Price Volatility: As an independent oil and natural gas company, EON Resources' financial performance is highly susceptible to fluctuations in the market prices of crude oil and natural gas. Significant decreases in these commodity prices could adversely affect the company's revenues, profitability, and cash flows.
Exploration, Development, and Production Risks: The company's success heavily relies on the successful acquisition, development, exploration, and production of oil and natural gas properties. These activities inherently involve substantial risks, including the uncertainty of drilling results, the ability to accurately estimate reserves, operational hazards, and the natural decline of existing wells. Failure to replenish or increase reserves through successful exploration or acquisition could negatively impact its long-term viability.
Regulatory and Environmental Risks: The oil and natural gas industry is subject to extensive and evolving federal, state, and local laws and regulations concerning environmental protection, health, safety, and operational practices. Changes in these regulations, or the imposition of more stringent compliance requirements, could lead to increased operating costs, capital expenditures, or potential liabilities, thereby impacting the company's financial performance.

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EON Resources Inc. operates within the Permian Basin, focusing on the acquisition, development, exploration, and production of oil and natural gas properties. The addressable markets for their main products, oil and natural gas, can be defined by the production volumes within this key region of the United States, as well as the broader U.S. oil and gas market valuation.

Oil Market in the Permian Basin (United States)

In the third quarter of 2024, oil production in the Permian Basin reached a record 6.3 million barrels per day (mb/d). This volume represented 47% of all U.S. crude and condensate production. Projections indicate that crude oil output in the Permian Basin is expected to further increase to 6.6 million barrels per day in 2026.

Natural Gas Market in the Permian Basin (United States)

Marketed natural gas production in the Permian Basin averaged 27.7 billion cubic feet per day (Bcf/d) in 2025. This accounted for 23% of the total marketed natural gas production in the United States in the same year. For 2026, marketed natural gas production in the Permian Basin is projected to reach 25.8 billion cubic feet per day.

Overall U.S. Oil and Gas Market (United States)

The broader U.S. oil and gas market, encompassing upstream, midstream, and downstream activities, was valued at approximately USD 474.5 billion in 2025. This market is projected to grow to about USD 717.39 billion by 2034, demonstrating a compound annual growth rate (CAGR) of 4.7% from 2026 to 2034. The upstream sector, which includes exploration and production like EON Resources' activities, dominated the U.S. oil and gas market, holding a 58.5% share in 2025.

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EON Resources Inc. (EONR) is poised for future revenue growth over the next two to three years, driven by several strategic initiatives focused on expanding production, making new acquisitions, and optimizing financial returns.

Increased Production from the San Andres Horizontal Drilling Program: The company expects a significant boost in net production from its San Andres horizontal drilling program, with an anticipated increase of 100–300 barrels of oil per day (bbl/d) in the second quarter of 2026 from recompletions and early horizontal activity. The broader plan includes bringing approximately three wells online by the end of July 2026 and around 10 wells by year-end, as part of a larger strategy to drill 92 wells over five years, each potentially yielding 300–500 barrels per day.
Growth Through Strategic Acquisitions: EON Resources has articulated a clear strategy to grow through the acquisition, development, and enhancement of onshore oil and natural gas properties in the United States. A recent example is the acquisition of the South Justis Field (SJF) in June 2025, which features 208 producing and injection wells and is projected to be accretive, contributing an estimated $1.2 million in net annual cash flow.
Enhanced Oil Price Realization via Hedging Strategy: To mitigate market volatility and secure stable cash flows, EON Resources has expanded its oil hedging position to cover base needs through 2027. Approximately 75% of its output for the next 15 months and over 50% for late 2027 are hedged, with about 12% of 2026 hedges priced above $70 per barrel. This strategy aims to lock in profitable pricing, ensure long-term cash flow stability, and provide a strong foundation for future investments and debt financing.
Continued Development of the Grayburg-Jackson Waterflood Program: The company continues to focus on its Grayburg-Jackson field waterflood program, a secondary recovery method designed to increase oil and gas production. This ongoing development and efforts to maximize output from this core asset are supported by the strategic hedging of its production through the end of 2027.

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Capital Allocation Decisions for EON Resources (EONR)

Share Issuance

  HNR Acquisition Corp, the predecessor to EON Resources, completed its Initial Public Offering (IPO) in February 2022, raising gross proceeds of $86.25 million.
  In November 2023, in connection with the business combination that converted HNR Acquisition Corp into an operating company, stockholders redeemed shares totaling approximately $44.1 million.
  EON Resources issued 1.0 million Class A common shares in June 2025 to acquire the South Justis Field and issued 1.5 million Class A common shares in September 2025 as part of a balance sheet restructuring agreement.


Inbound Investments

  In September 2025, EON Resources secured $45.5 million in funding, which included $40.5 million from a private family office and $5.0 million from Virtus Energy Partners, LLC.


Outbound Investments

  In November 2023, HNR Acquisition Corp acquired Pogo Resources, LLC, including the Grayburg-Jackson oil field, for a revised purchase price of $63 million in cash, plus 2 million shares of Class B Common Stock and 2 million units exchangeable for Class A Common Stock.
  EON Resources acquired a 94% working interest in the South Justis Field in June 2025, with the consideration being 1.0 million Class A common shares of the company.
  EON Resources entered into a farmout agreement in September 2025, selling a 65% working interest in the San Andres formation of the Grayburg-Jackson Field to Virtus Energy Partners for $5 million in cash.


Capital Expenditures

  Capital expenditures for the first quarter of 2025 were $600,000.
  EON Resources plans to commence horizontal drilling in the first quarter of 2026, with an estimated cost of approximately $3.7 million per well for 50 identified well locations over several years, focusing on the San Andres formation.
  As part of the September 2025 farmout agreement, Virtus Energy Partners will fund the drilling of the first three horizontal wells, with an expected cumulative capital expenditure exceeding $300 million for up to 90 wells in the San Andres formation, while EON retains a 35% non-operated interest.

Interactive Breakdown

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Better Bets vs. EON Resources (EONR)

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Latest Trefis Analyses

	Title	Date
0	DASHBOARDS
1	EON Resources Earnings Notes	12/16/2025
2	EON Resources Stock Drop Looks Sharp, But How Deep Can It Go?	10/17/2025

	Title
0	ARTICLES

Trade Ideas

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Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
KGS_3312026_Insider_Buying_45D_2Buy_200K	03312026	KGS	Kodiak Gas Services	Insider	Insider Buys 45DStrong Insider Buying Companies with multiple insider buys in the last 45 days	0.0%	0.0%	0.0%
KOS_3312026_Insider_Buying_45D_2Buy_200K	03312026	KOS	Kosmos Energy	Insider	Insider Buys 45DStrong Insider Buying Companies with multiple insider buys in the last 45 days	0.0%	0.0%	0.0%
TPL_12262025_Dip_Buyer_ValueBuy	12262025	TPL	Texas Pacific Land	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	65.2%	65.2%	-2.1%
NOV_12122025_Insider_Buying_GTE_1Mil_EBITp+DE_V2	12122025	NOV	NOV	Insider	Insider Buys \| Low D/EStrong Insider Buying Companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap	15.3%	15.3%	-6.5%
RIG_12122025_Insider_Buying_GTE_1Mil_EBITp+DE_V2	12122025	RIG	Transocean	Insider	Insider Buys \| Low D/EStrong Insider Buying Companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap	60.5%	60.5%	-7.0%

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Peer Comparisons

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Financials

	EONR	PR	HPK	SM	FANG	OXY	Median
Name	EON Reso.	Permian .	HighPeak.	SM Energy	Diamondb.	Occident.
Mkt Price	-	-	-	-	-	-	-
Mkt Cap	0.0	15.3	0.8	3.3	55.7	56.5	9.3
Rev LTM	17	5,065	863	3,138	14,929	21,593	4,102
Op Inc LTM	-5	1,861	153	822	4,918	3,722	1,341
FCF LTM	-27	557	-11	539	-703	4,105	264
FCF 3Y Avg	-1	423	-104	-206	-1,624	5,298	-52
CFO LTM	-9	3,608	512	2,011	8,758	10,532	2,809
CFO 3Y Avg	7	3,078	653	1,789	7,030	11,426	2,434

Growth & Margins

	EONR	PR	HPK	SM	FANG	OXY	Median
Name	EON Reso.	Permian .	HighPeak.	SM Energy	Diamondb.	Occident.
Rev Chg LTM	-23.4%	1.3%	-22.7%	17.5%	35.4%	-1.9%	-0.3%
Rev Chg 3Y Avg	-	36.0%	8.6%	0.4%	18.3%	-14.5%	8.6%
Rev Chg Q	-16.0%	-9.8%	-23.3%	-16.0%	-9.6%	-14.7%	-15.3%
QoQ Delta Rev Chg LTM	-4.8%	-2.4%	-7.1%	-4.1%	-2.3%	-1.4%	-3.3%
Op Inc Chg LTM	-431.5%	-13.4%	-55.2%	-19.9%	11.9%	-20.8%	-20.3%
Op Inc Chg 3Y Avg	895.2%	16.9%	-24.6%	-20.4%	-7.3%	-29.0%	-13.8%
Op Mgn LTM	-31.1%	36.7%	17.7%	26.2%	32.9%	17.2%	21.9%
Op Mgn 3Y Avg	8.9%	42.3%	28.9%	34.5%	42.5%	19.7%	31.7%
QoQ Delta Op Mgn LTM	-10.4%	-2.3%	-8.8%	-4.9%	-1.6%	-0.6%	-3.6%
CFO/Rev LTM	-52.9%	71.2%	59.3%	64.1%	58.7%	48.8%	59.0%
CFO/Rev 3Y Avg	6.7%	70.1%	62.6%	65.8%	62.6%	51.3%	62.6%
FCF/Rev LTM	-153.4%	11.0%	-1.2%	17.2%	-4.7%	19.0%	4.9%
FCF/Rev 3Y Avg	-35.0%	10.1%	-9.2%	-7.9%	-13.0%	23.7%	-8.6%

Valuation

	EONR	PR	HPK	SM	FANG	OXY	Median
Name	EON Reso.	Permian .	HighPeak.	SM Energy	Diamondb.	Occident.
Mkt Cap	0.0	15.3	0.8	3.3	55.7	56.5	9.3
P/S	1.6	3.0	0.9	1.1	3.7	2.6	2.1
P/Op Inc	-5.0	8.2	5.2	4.1	11.3	15.2	6.7
P/EBIT	2.8	9.2	4.7	3.3	26.0	13.7	7.0
P/E	-10.7	16.3	41.6	5.2	33.5	24.3	20.3
P/CFO	-2.9	4.2	1.5	1.7	6.4	5.4	2.9
Total Yield	-9.3%	9.1%	5.3%	20.7%	5.1%	4.1%	5.2%
Dividend Yield	0.0%	2.9%	2.9%	1.4%	2.1%	0.0%	1.7%
FCF Yield 3Y Avg	1.2%	5.0%	-6.2%	-0.4%	-2.8%	11.3%	0.4%
D/E	0.2	0.2	1.5	0.8	0.3	0.4	0.3
Net D/E	0.2	0.2	1.3	0.7	0.3	0.4	0.3

Returns

	EONR	PR	HPK	SM	FANG	OXY	Median
Name	EON Reso.	Permian .	HighPeak.	SM Energy	Diamondb.	Occident.
1M Rtn	-	-	-	-	-	-	-
3M Rtn	-	-	-	-	-	-	-
6M Rtn	-	-	-	-	-	-	-
12M Rtn	-	-	-	-	-	-	-
3Y Rtn	-	-	-	-	-	-	-
1M Excs Rtn	-	-	-	-	-	-	-
3M Excs Rtn	-	-	-	-	-	-	-
6M Excs Rtn	-	-	-	-	-	-	-
12M Excs Rtn	-	-	-	-	-	-	-
3Y Excs Rtn	-	-	-	-	-	-	-

FDIC Bank Data

Bank Capital

null

Bank Deposits

null

Bank Assets

null

Bank Loans

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FDA Approved Drugs Data

Expand for Morenull

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2024
Period End	9/30/2025	12/31/2024
Filing Date	11/17/2025	4/16/2025
Key Financials
Total Revenue	17	20
EBITDA	11	-0
Operating Income	-5	-3
Net Income	-3	-9
EPS	-0.69	-1.40
Growth Rates
Total Revenue Growth	-23.4%	-49.6%
EBITDA Growth	262.8%	-100.7%
Operating Income Growth	-431.5%	-113.5%
Net Income Growth	45.5%	-149.6%
Margins
EBITDA Margin	66.3%	-0.7%
Operating Income Margin	-31.1%	-14.8%
Net Income Margin	-14.6%	-44.8%
Cash & Debt
Total Cash	1	3
Total Debt	5	43
Net Debt / (Cash)	5	40
Cash Flows
Net Cash from Operations	-9	4
Free Cash from Operations	-27	0
Returns to Shareholders
Dividends	0	-0
Share Repurchases	-0	-0

$ Mil \| FY: 12/31	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1
Period End	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024
Filing Date	11/17/2025	8/14/2025	5/15/2025	4/16/2025	11/15/2024	8/19/2024	5/20/2024
Key Financials Quarterly
Total Revenue	5	4	5	4	5	5	5
Ebitda	14	1	-0	-3	3	2	-3
Operating Income	-2	-1	-0	-3	0	-0	-0
Net Income	6	-1	-2	-5	1	-1	-5
EPS	0.15	-0.06	-0.11	-0.67	0.24	-0.12	-0.90
Key Financials TTM
Total Revenue TTM	17	18	20	20	23	24	26
Ebitda TTM	11	1	2	-0	3	3	4
Operating Income TTM	-5	-4	-3	-3	2	4	6
Net Income TTM	-3	-7	-6	-9	-5	-3	-1
Growth Rates Quarterly
Total Revenue Growth	-16.0%	-28.2%	-11.9%	-34.8%	-21.3%	-29.9%	-86.9%
EBITDA Growth	318.8%	-65.5%	87.5%	-1001.1%	-8.9%	-15.6%	-113.6%
Operating Income Growth	-1930.4%	-346.7%	30.1%	-224.9%	-97.0%	-113.6%	-101.1%
Net Income Growth	316.8%	-103.9%	62.7%	-683.0%	-49.6%	-133.4%	-124.5%
Margins Quarterly
EBITDA Margin	305.8%	20.8%	-7.4%	-67.9%	61.3%	43.3%	-52.0%
Operating Income Margin	-33.6%	-29.7%	-4.0%	-58.6%	1.5%	-4.8%	-5.0%
Net Income Margin	122.6%	-35.2%	-37.7%	-116.4%	24.7%	-12.4%	-88.9%
Cash & Debt
Total Cash	1	3	3	3	3	3	3
Total Debt	5	43	42	43	44	44	44
Net Debt / (Cash)	5	40	39	40	41	41	41
Cash Flows Quarterly
FCF from Operations	-8	0	-2	0	1	1	1
Cash Flows TTM
FCF from Operations TTM	-9	-0	1	4	6	7	9
Returns to Shareholders Quarterly
Dividends	0	0	0	0	0	0	0
Share Repurchases	-0	-0	-0	-0	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	-3.2%	-3.8%	-0.6%	-11.9%	0.5%	-1.1%	-1.5%
Return on Invested Capital (ROIC) TTM
ROIC TTM	-5.9%	-3.0%	-2.4%	-3.0%	1.7%	5.1%	4.3%

Segment Financials

Assets by Segment

$ Mil	2024	2022
Oil and gas operations which derives its revenue from the sale of oil and gas products	89	0
Total	89	0

Price Behavior

Price Behavior

Market Price	$0.71
Market Cap ($ Bil)	0.0
First Trading Date	04/06/2022
Distance from 52W High	-53.4%
	50 Days	200 Days
DMA Price	$0.76	$0.50
DMA Trend	up	up
Distance from DMA	-6.0%	42.5%
	3M	1YR
Volatility	186.9%	126.7%
Downside Capture	-4.17	-1.87
Upside Capture	-321.18	-187.08
Correlation (SPY)	-37.2%	-25.0%

EONR Betas & Captures as of 3/31/2026

	1M	2M	3M	6M	1Y	3Y
Beta	-9.39	-3.82	-3.28	-1.87	-0.40	-0.17
Up Beta	-6.09	4.95	2.57	0.52	0.16	0.11
Down Beta	-3.12	-3.17	-3.60	-1.04	0.68	0.37
Up Capture	-822%	-276%	-160%	-102%	-44%	-7%
Bmk +ve Days	7	16	27	65	139	424
Stock +ve Days	14	24	37	63	116	315
Down Capture	-2698%	-1423%	-1324%	-945%	-990%	-126%
Bmk -ve Days	12	23	33	58	110	323
Stock -ve Days	8	18	26	63	132	356

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with EONR
EONR	45.5%	126.6%	0.86	-
Sector ETF (XLE)	41.5%	19.7%	1.65	25.6%
Equity (SPY)	31.2%	12.5%	1.91	-25.7%
Gold (GLD)	40.8%	27.2%	1.24	0.6%
Commodities (DBC)	45.1%	18.1%	1.93	40.5%
Real Estate (VNQ)	13.7%	13.4%	0.72	-11.0%
Bitcoin (BTCUSD)	-17.6%	42.2%	-0.35	6.3%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with EONR
EONR	-42.4%	160.6%	0.08	-
Sector ETF (XLE)	23.7%	26.1%	0.81	12.2%
Equity (SPY)	12.9%	17.1%	0.59	-3.0%
Gold (GLD)	21.1%	17.8%	0.97	3.3%
Commodities (DBC)	14.5%	19.1%	0.62	18.9%
Real Estate (VNQ)	3.5%	18.8%	0.09	-2.6%
Bitcoin (BTCUSD)	6.5%	56.3%	0.33	0.3%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 10-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with EONR
EONR	-24.1%	160.6%	0.08	-
Sector ETF (XLE)	10.1%	29.5%	0.38	12.2%
Equity (SPY)	14.8%	17.9%	0.71	-3.0%
Gold (GLD)	13.9%	15.9%	0.73	3.3%
Commodities (DBC)	10.0%	17.8%	0.47	18.9%
Real Estate (VNQ)	5.4%	20.7%	0.23	-2.6%
Bitcoin (BTCUSD)	68.2%	66.9%	1.07	0.3%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date	4152026
Short Interest: Shares Quantity	7.7 Mil
Short Interest: % Change Since 3312026	13.4%
Average Daily Volume	9.6 Mil
Days-to-Cover Short Interest	1
Basic Shares Quantity	38.1 Mil
Short % of Basic Shares	20.3%

Returns Analyses

	Title
0	EON Resources Stock Drop Looks Sharp, But How Deep Can It Go?

Earnings Returns History

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
11/18/2025	4.2%	-9.9%	-22.5%
7/24/2025	2.9%	-6.9%	8.1%
4/22/2025	-2.1%	-2.3%	-23.3%
11/18/2024	-6.9%	-24.5%	-50.3%
SUMMARY STATS
# Positive	2	0	1
# Negative	2	4	3
Median Positive	3.5%		8.1%
Median Negative	-4.5%	-8.4%	-23.3%
Max Positive	4.2%		8.1%
Max Negative	-6.9%	-24.5%	-50.3%

	Forward Returns
11/18/2025	4.2%	-9.9%	-22.5%
7/24/2025	2.9%	-6.9%	8.1%
4/22/2025	-2.1%	-2.3%	-23.3%
11/18/2024	-6.9%	-24.5%	-50.3%
SUMMARY STATS
# Positive	2	0	1
# Negative	2	4	3
Median Positive	3.5%		8.1%
Median Negative	-4.5%	-8.4%	-23.3%
Max Positive	4.2%		8.1%
Max Negative	-6.9%	-24.5%	-50.3%

SEC Filings

Expand for More

Report Date	Filing Date	Filing
09/30/2025	11/17/2025	10-Q
06/30/2025	08/14/2025	10-Q
03/31/2025	05/15/2025	10-Q
12/31/2024	04/16/2025	10-K
09/30/2024	11/15/2024	10-Q
06/30/2024	08/19/2024	10-Q
03/31/2024	05/20/2024	10-Q
09/30/2023	11/13/2023	10-Q
06/30/2023	08/18/2023	10-Q
03/31/2023	05/22/2023	10-Q
12/31/2022	03/31/2023	10-K
09/30/2022	11/14/2022	10-Q
06/30/2022	08/15/2022	10-Q
03/31/2022	05/17/2022	10-Q
12/31/2021	04/15/2022	10-K
09/30/2021	02/14/2022	424B4

Recent Forward Guidance [BETA]

Latest: Q3 2025 Earnings Reported 11/18/2025

Forward Guidance				Guidance Change
Metric	Low	Mid	High	% Chg	% Delta	Change	Prior
2026 Horizontal Wells Drilled	10	15	20			Higher New
2026 Initial Production Rate	300	400	500	14.3%		Raised	Guidance: 350 for 2026
2026 Gross Oil Production		20,000				Higher New
2026 Net Oil Production		7,000				Higher New
2026 Cumulative Capital Investment		300.00 Mil				Higher New

Prior: Q2 2025 Earnings Reported 8/19/2025

Forward Guidance				Guidance Change
Metric	Low	Mid	High	% Chg	% Delta	Change	Prior
2026 Well Cost		3.70 Mil		0		Affirmed	Guidance: 3.70 Mil for 2026
2026 Well Production	300	350	400	0		Affirmed	Guidance: 350 for 2026
2026 South Justis Field Additional Production		250				Higher New
2025 Shareholder Value Creation		40.00 Mil				Higher New
2028 Drilling Program Wells		90				Higher New
2028 Reserve Value Increase		100.00 Mil				Higher New

Insider Activity

Expand for More

#	Owner	Title	Holding	Action	Filing Date	Price	Shares	Transacted Value	Value of Held Shares	Form
1	Williams, Mark	VP of Finance and Admin	Direct	Buy	12012025	0.43	25,000	10,698	87,720	Form
2	Salvucci, Joseph V SR		See Footnote	Buy	11282025	0.43	118,237	50,866	880,773	Form
3	Salvucci, Joseph V JR		Direct	Buy	11262025	0.41	30,000	12,300	142,591	Form
4	Trotter, Mitchell	Chief Financial Officer	Direct	Buy	11242025	0.43	25,000	10,872	130,208	Form
5	Salvucci, Joseph V SR		See Footnote	Buy	9172025	0.38	100,000	37,530	723,999	Form

EONR Trade Sentinel

Stock Conviction

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CONVICTION RATIONALE

null

STOCK ARCHETYPE

null

Looking for high-conviction positions with a better risk/reward profile? See what's currently in the Trefis High Quality Portfolio.

INVESTMENT THESIS

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Mechanism: null

Supporting Evidence:

PRIMARY RISK

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Mechanism: null

Supporting Evidence:

Key KPI Watchlist

KPI	Threshold	Rationale

Core Investment Debate

BULL VIEW

CORE TENSION

PREVAILING SENTIMENT

BEAR VIEW

Next 6 months: Risks and Catalysts

Timeline	Event & Metric To Watch

Key Events in Last 6 Months

Date	Event	Stock Impact

Risk Management

Position Sizing

null

Diversification Alternatives

How Is The Market Pricing EONR?

What will confirm the thesis

What will damage the thesis

Noise: Real but irrelevant to thesis

Repricing Catalyst

What EONR Makes & Who Pays

TTM figures based on

EONR Evolution: Price Return by Era

① Structure

② Volume / Momentum

③ Catalyst

Combined Score

0 / 12

1 Price Structure & Trend · ▾

2 Momentum ▾

3 Relative Strength vs. SPY ▾

4 Institutional Footprint & Volume ▾

5 Volatility ▾

6 Key Price Levels Range · Vol ▾

7 Earnings Reaction History ▾

8 How the Verdict Is Derived Three Pillars ▾

Pillar	Score
① Structure	0
② Vol / Mom	0
③ Catalyst	0

ℹ Bull Pillars: 0 · Bear Pillars: 0 · Combined Score: 0 →

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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EON Resources (EONR)

Market Price (4/28/2026): $0.78 | Market Cap: $29.7 MilSector: Energy | Industry: Oil & Gas Exploration & Production

EON Resources (EONR)

Market Price (4/28/2026): $0.78Market Cap: $29.7 MilSector: EnergyIndustry: Oil & Gas Exploration & Production

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

About EON Resources (EONR)

Oil Market in the Permian Basin (United States)

Natural Gas Market in the Permian Basin (United States)

Overall U.S. Oil and Gas Market (United States)

Capital Allocation Decisions for EON Resources (EONR)

Share Issuance

Inbound Investments

Outbound Investments

Capital Expenditures

Interactive Breakdown

Better Bets vs. EON Resources (EONR)

Latest Trefis Analyses

Trade Ideas

Recent Active Movers

Top Gainers

Top Losers

Top Gainers

Top Losers

Top Gainers

Top Losers

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons

Financials

Growth & Margins

Valuation

Returns

Comparison Analyses

FDIC Bank Data

Bank Capital

Bank Deposits

Bank Assets

Bank Loans

FDA Approved Drugs Data

Financials

Segment Financials

Price Behavior

Based On 1-Year Data

Based On 5-Year Data

Based On 10-Year Data

Short Interest

Returns Analyses

Earnings Returns History

SEC Filings

Recent Forward Guidance [BETA]

Insider Activity

EONR Trade Sentinel

null

CONVICTION RATIONALE

STOCK ARCHETYPE

INVESTMENT THESIS

PRIMARY RISK

BULL VIEW

CORE TENSION

Market Price (4/28/2026): $0.78 | Market Cap: $29.7 Mil
Sector: Energy | Industry: Oil & Gas Exploration & Production

Market Price (4/28/2026): $0.78
Market Cap: $29.7 Mil
Sector: Energy
Industry: Oil & Gas Exploration & Production