Vivakor (VIVK)
Market Price (9/6/2026): $0.803 | Market Cap: $12,859Sector: Energy | Industry: Integrated Oil & Gas
Vivakor (VIVK)
Market Price (9/6/2026): $0.803Market Cap: $12,859Sector: EnergyIndustry: Integrated Oil & Gas
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -100% Megatrend and thematic driversMegatrends include Sustainable Infrastructure, US Energy Independence, and Circular Economy & Recycling. Themes include Waste Management Solutions, Show more. | Weak multi-year price returns2Y Excs Rtn is -137%, 3Y Excs Rtn is -171% | Penny stockMkt Price is 0.8 Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -12 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -14% Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 293089% Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -28% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -14%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -14% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -743026% High stock price volatilityVol 12M is 247% Significant short interestShort 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 1918% Key risksVIVK key risks include [1] significant financial instability, Show more. |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -100% |
| Megatrend and thematic driversMegatrends include Sustainable Infrastructure, US Energy Independence, and Circular Economy & Recycling. Themes include Waste Management Solutions, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -137%, 3Y Excs Rtn is -171% |
| Penny stockMkt Price is 0.8 |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -12 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -14% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 293089% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -28% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -14%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -14% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -743026% |
| High stock price volatilityVol 12M is 247% |
| Significant short interestShort 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 1918% |
| Key risksVIVK key risks include [1] significant financial instability, Show more. |
Qualitative Assessment
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Vivakor (VIVK) stock has lost about 95% since 5/31/2026 because of the following key factors:
1. Nasdaq Delisting Threat and Compliance Failures: Vivakor faced severe pressure due to repeated non-compliance with Nasdaq's listing rules, particularly the minimum $1.00 bid price requirement, leading to a notice of delisting in December 2025. Trading of its common stock was suspended on December 26, 2025, and Nasdaq also cited a violation of shareholder approval rules for issuing shares at below the minimum price. While an appeal was scheduled for January 29, 2026, these persistent issues created significant uncertainty and negatively impacted investor confidence well into fiscal Q2 2026.
2. Implementation of a 1-for-20 Reverse Stock Split: To address the Nasdaq bid price deficiency, Vivakor enacted a 1-for-20 reverse stock split, which became effective on July 17, 2026. This corporate action, intended to artificially inflate the per-share price to maintain Nasdaq listing, is often perceived as a sign of financial distress. The split drastically reduced outstanding shares from approximately 13,344,000 to 667,200 but did not alter the company's fundamental valuation, contributing to a lack of sustained investor interest.
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Vivakor (VIVK) stock has lost about 95% since 5/31/2026 because of the following key factors:
1. Nasdaq Delisting Threat and Compliance Failures: Vivakor faced severe pressure due to repeated non-compliance with Nasdaq's listing rules, particularly the minimum $1.00 bid price requirement, leading to a notice of delisting in December 2025. Trading of its common stock was suspended on December 26, 2025, and Nasdaq also cited a violation of shareholder approval rules for issuing shares at below the minimum price. While an appeal was scheduled for January 29, 2026, these persistent issues created significant uncertainty and negatively impacted investor confidence well into fiscal Q2 2026.
2. Implementation of a 1-for-20 Reverse Stock Split: To address the Nasdaq bid price deficiency, Vivakor enacted a 1-for-20 reverse stock split, which became effective on July 17, 2026. This corporate action, intended to artificially inflate the per-share price to maintain Nasdaq listing, is often perceived as a sign of financial distress. The split drastically reduced outstanding shares from approximately 13,344,000 to 667,200 but did not alter the company's fundamental valuation, contributing to a lack of sustained investor interest.
3. Persistent Net Losses and Critical Liquidity Issues: Despite reporting a 10% increase in revenue to $32.1 million and a return to positive operating income of approximately $0.2 million for fiscal Q2 2026 (ended June 30, 2026), Vivakor continued to post a net loss of $2.8 million. Furthermore, the company signaled "going-concern risk amid cash squeeze" in its fiscal Q2 2026 10-Q filing and exhibited severe liquidity challenges with a current ratio of only 0.12 to 0.13, indicating that its short-term obligations significantly exceeded its liquid assets.
4. Post-Split Price Erosion and Sustained Bearish Technicals: Following the reverse stock split in July 2026, the stock experienced a significant and rapid decline. For instance, Vivakor's stock price "faded from the $1.60s on 2026/08/10 down toward the high-$0.70s by 2026/09/01, a drawdown of roughly 50% from that spike". As of September 1, 2026, the stock closed at $0.78, characterized by analysts as being in "deep in oversold territory" with a "firmly bearish structure," as evidenced by its daily EMA stack (20-day at $1.37, 50-day at $6.13, 200-day at $377.72). This continued downturn after the split indicates a lack of investor confidence in the company's ability to recover value.
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Stock Movement Drivers
Fundamental Drivers
The -97.0% change in VIVK stock from 5/31/2026 to 9/5/2026 was primarily driven by a -99.7% change in the company's P/S Multiple.| (LTM values as of) | 5312026 | 9052026 | Change |
|---|---|---|---|
| Stock Price ($) | 27.00 | 0.82 | -97.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 87 | 90 | 3.5% |
| P/S Multiple | 0.0 | 0.0 | -99.7% |
| Shares Outstanding (Mil) | 0 | 0 | 811.4% |
| Cumulative Contribution | -97.0% |
Market Drivers
5/31/2026 to 9/5/2026| Return | Correlation | |
|---|---|---|
| VIVK | -97.0% | |
| Market (SPY) | 1.8% | -7.9% |
| Sector (XLE) | 13.8% | 25.5% |
Fundamental Drivers
The -98.5% change in VIVK stock from 2/28/2026 to 9/5/2026 was primarily driven by a -92.1% change in the company's P/S Multiple.| (LTM values as of) | 2282026 | 9052026 | Change |
|---|---|---|---|
| Stock Price ($) | 54.40 | 0.82 | -98.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 125 | 90 | -28.4% |
| P/S Multiple | 0.0 | 0.0 | -92.1% |
| Shares Outstanding (Mil) | 0 | 0 | -73.1% |
| Cumulative Contribution | -98.5% |
Market Drivers
2/28/2026 to 9/5/2026| Return | Correlation | |
|---|---|---|
| VIVK | -98.5% | |
| Market (SPY) | 12.6% | -0.0% |
| Sector (XLE) | 15.3% | 11.4% |
Fundamental Drivers
The -100.0% change in VIVK stock from 8/31/2025 to 9/5/2026 was primarily driven by a -99.9% change in the company's P/S Multiple.| (LTM values as of) | 8312025 | 9052026 | Change |
|---|---|---|---|
| Stock Price ($) | 2832.65 | 0.82 | -100.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 124 | 90 | -27.8% |
| P/S Multiple | 0.3 | 0.0 | -99.9% |
| Shares Outstanding (Mil) | 0 | 0 | -28.1% |
| Cumulative Contribution | -100.0% |
Market Drivers
8/31/2025 to 9/5/2026| Return | Correlation | |
|---|---|---|
| VIVK | -100.0% | |
| Market (SPY) | 20.4% | 3.5% |
| Sector (XLE) | 45.1% | 7.0% |
Fundamental Drivers
The -100.0% change in VIVK stock from 8/31/2023 to 9/5/2026 was primarily driven by a -100.0% change in the company's P/S Multiple.| (LTM values as of) | 8312023 | 9052026 | Change |
|---|---|---|---|
| Stock Price ($) | 4448.39 | 0.82 | -100.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 57 | 90 | 56.4% |
| P/S Multiple | 0.4 | 0.0 | -100.0% |
| Shares Outstanding (Mil) | 0 | 0 | -71.8% |
| Cumulative Contribution | -100.0% |
Market Drivers
8/31/2023 to 9/5/2026| Return | Correlation | |
|---|---|---|
| VIVK | -100.0% | |
| Market (SPY) | 77.1% | 3.7% |
| Sector (XLE) | 57.5% | 7.2% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| VIVK Return | -48% | -87% | 2% | 17% | -99% | -98% | -100% |
| Peers Return | 39% | -7% | 34% | 39% | 34% | 117% | 600% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 106% |
Monthly Win Rates [3] | |||||||
| VIVK Win Rate | 33% | 50% | 58% | 42% | 25% | 33% | |
| Peers Win Rate | 62% | 46% | 56% | 56% | 60% | 81% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 56% | |
Max Drawdowns [4] | |||||||
| VIVK Max Drawdown | -58% | -91% | -69% | -68% | -99% | -99% | |
| Peers Max Drawdown | -24% | -43% | -26% | -23% | -31% | -16% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: TRGP, CLH, GFL, NVRI.
[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 9/4/2026 (YTD)
How Low Can It Go
| Event | VIVK | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -23.4% | -18.8% |
| % Gain to Breakeven | 30.5% | 23.1% |
| Time to Breakeven | 2 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -56.2% | -9.5% |
| % Gain to Breakeven | 128.1% | 10.5% |
| Time to Breakeven | 53 days | 24 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -17.6% | -3.7% |
| % Gain to Breakeven | 21.4% | 3.9% |
| Time to Breakeven | 1 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -81.5% | -12.2% |
| % Gain to Breakeven | 441.5% | 13.9% |
| Time to Breakeven | 142 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -63.4% | -6.8% |
| % Gain to Breakeven | 173.5% | 7.3% |
| Time to Breakeven | 304 days | 15 days |
In The Past
Vivakor's stock fell -23.4% during the 2025 US Tariff Shock. Such a loss loss requires a 30.5% gain to breakeven.
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Asset Allocation
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| Event | VIVK | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -23.4% | -18.8% |
| % Gain to Breakeven | 30.5% | 23.1% |
| Time to Breakeven | 2 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -56.2% | -9.5% |
| % Gain to Breakeven | 128.1% | 10.5% |
| Time to Breakeven | 53 days | 24 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -81.5% | -12.2% |
| % Gain to Breakeven | 441.5% | 13.9% |
| Time to Breakeven | 142 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -63.4% | -6.8% |
| % Gain to Breakeven | 173.5% | 7.3% |
| Time to Breakeven | 304 days | 15 days |
In The Past
Vivakor's stock fell -23.4% during the 2025 US Tariff Shock. Such a loss loss requires a 30.5% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Vivakor (VIVK)
Vivakor, Inc. (VIVK) is an environmental solutions company primarily focused on clean energy technologies. The company specializes in the remediation of soil, offering services to address land contaminated with various hydrocarbon-based substances.
Vivakor's core business involves the cleanup of properties laden with heavy crude oil and other hydrocarbon contamination. Utilizing its specialized technologies, Vivakor not only remediates these soils but also extracts valuable hydrocarbons, such as oil, from the contaminated material. This dual approach provides both an environmental cleanup service and a resource recovery component.
The company primarily serves markets in the United States and Kuwait. Its customer base likely includes entities with hydrocarbon-contaminated properties, such as oil and gas companies, industrial operators, or governmental bodies and landowners responsible for environmental cleanup.
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Here are 1-3 brief analogies to describe Vivakor:
- It's like a **TerraCycle for oil-contaminated soil**, cleaning up tough environmental messes while recovering valuable resources.
- Think of it as an **ExxonMobil that specializes in extracting oil by cleaning up existing contaminated sites**, rather than drilling new wells.
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- Soil Remediation: Vivakor specializes in cleaning soil contaminated by heavy crude oil and other hydrocarbon-based substances.
- Hydrocarbon Extraction: The company extracts hydrocarbons, such as oil, from properties laden with or contaminated by crude oil and other hydrocarbon-based substances.
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Vivakor, Inc. (VIVK) operates in the business-to-business (B2B) sector, providing environmental solutions and clean energy technologies, specifically soil remediation and hydrocarbon extraction services.
Based on Vivakor's public financial filings (e.g., 10-K reports), the company has experienced significant customer concentration, with a small number of customers accounting for a large portion of its revenue. For instance, in 2022, one customer accounted for approximately 90% of its revenue, referred to as 'Customer A' in its filings. In 2021, another customer accounted for approximately 80% of its revenue, referred to as 'Customer B'.
However, Vivakor does not publicly disclose the specific names of these major customer companies in its SEC filings.
Given the specialized nature of Vivakor's services, its major customers would typically be other companies or government entities, falling into the following categories:
- Oil and Gas Companies: Entities involved in exploration, production, refining, or distribution of oil and gas that may require remediation of contaminated sites, or the extraction of hydrocarbons from legacy or waste sites.
- Industrial Enterprises: Businesses from various industrial sectors whose operations have led to soil contamination, requiring specialized clean-up and remediation services.
- Government Agencies and Municipalities: Public sector bodies responsible for environmental protection, land management, or overseeing the clean-up of contaminated public or private sites.
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James H. Ballengee, Chairman, President & Chief Executive Officer
Mr. Ballengee became Vivakor's Chief Executive Officer and Chairman of the Board in October 2022 and President in August 2024. He brings over two decades of experience in midstream oil and gas senior management roles. He was the founder of Bridger Group, LLC, a private crude oil marketing firm, from 2010 to 2013, and then managed its successor, Bridger Logistics, LLC, from 2013 to 2015, which was sold to Ferrellgas Partners, LP. He also previously served as CEO of Taylor Logistics, LLC, an oil gathering, storage, and transportation company, which was sold to Gibson Energy, Inc. in 2010. Mr. Ballengee has held positions including Chief Commercial Officer, Chief Financial Officer, Chief Executive Officer, and Chairman of the Board in two major private equity portfolio companies. He was also the founder of Ballengee Group LLC, founded in 2014. Before joining Vivakor, he was CEO of Silver Fuels, LLC and Jamex Marketing, LLC. His education includes an undergraduate degree from Louisiana State University.
Kimberly A. Hawley, Executive Vice President, Chief Financial Officer, Treasurer & Secretary
Ms. Hawley was appointed Executive Vice President, Chief Financial Officer, and Treasurer of Vivakor, Inc. and Vivakor Administration, LLC on July 24, 2025, and Secretary on November 7, 2025. She is a financial executive with over 25 years of experience leading corporate finance, strategic planning, and regulatory compliance across public and private companies. Her background spans energy, infrastructure, and logistics sectors, where she has a reputation for financial leadership in complex, high-growth environments. Prior to Vivakor, Ms. Hawley served as Chief Financial Officer of Empire Diversified Energy, Inc. from February 2022 until July 2025, where she oversaw financial operations for seven subsidiaries and secured over $120 million in long-term debt financing for major infrastructure projects. She was also a Certified Public Accountant with Personal Management Consultants from October 2018 to January 2022. Ms. Hawley received her Bachelor of Business Administration from Loyola University of Chicago and an MBA from Pepperdine University.
Leslie D. Patterson, Executive Vice President & Chief Operating Officer
Mr. Patterson was appointed Executive Vice President and Chief Operating Officer on August 13, 2025. He is an accomplished operations executive with over 30 years of leadership experience in the domestic and international oil and gas industries. His experience includes successfully managing critical functions across operations, engineering, construction, project execution, and corporate strategy for prominent energy companies such as BP, ExxonMobil, Chevron, and Shell. His background also spans both onshore and offshore environments, with a proven ability to lead complex capital projects. Mr. Patterson previously served as Vice President-Operations and Construction for Vivakor starting June 2, 2023. Prior to joining Vivakor, he was the Managing Partner and CEO of Coyote Oilfield Services, LLC. He has also served as a construction and operations executive at public and private equity portfolio companies.
Jeremy H. Gamboa, Division President, Logistics
Mr. Gamboa was appointed Division President, Logistics for Vivakor Administration, LLC, a subsidiary of Vivakor, Inc., effective October 1, 2024. He is a seasoned operations executive with over three decades of management experience in midstream trucking, terminaling, and marketing companies. This includes experience with several business units recently acquired by Vivakor. Mr. Gamboa previously served as President of Endeavor Crude, LLC since 2024, Chief Operating Officer of Ridgeback Energy Partners, LLC from 2018-2021, and Executive Vice President and Chief Operating Officer of Bridger Logistics, LLC from 2013-2016.
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The key risks to Vivakor (VIVK) are its significant financial instability and going concern doubts, its high dependence on volatile oil and gas market conditions, and ongoing Nasdaq listing and liquidity risks.
- Financial Instability and Going Concern: Vivakor has a history of persistent net losses, negative operating margins, and negative free cash flow, leading to a substantial accumulated deficit. The company's auditor has expressed significant doubt about its ability to continue as a going concern, indicating fundamental financial challenges. Vivakor heavily relies on external capital, including credit lines, convertible loans, and the issuance of new shares, which poses a considerable risk of ongoing share dilution for existing shareholders.
- Dependence on Volatile Oil and Gas Market Conditions: A substantial portion of Vivakor's revenue and profit margins is directly tied to the volume and prices of oil and natural gas, even with its environmental remediation and contracted logistics services. Fluctuations or a significant downturn in the oil market could lead to a sharp decrease in demand for its services, adversely affecting its financial performance and overall business viability.
- Nasdaq Listing and Liquidity Risk: Vivakor has faced repeated challenges in maintaining compliance with Nasdaq's listing requirements, including the minimum bid price rule. The company has received delisting notices and experienced temporary trading suspensions, necessitating actions such as reverse stock splits to regain compliance. Continued non-compliance or delisting would severely impair the company's liquidity, trading volume, and ability to raise capital from public markets, further exacerbating its financial risks.
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Vivakor (symbol: VIVK) operates in the addressable markets of environmental remediation, with a specific focus on soil remediation and hydrocarbon extraction.
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Global Oil and Gas Environmental Remediation Market: The global oil and gas environmental remediation market size was valued at approximately US$31.15 billion in 2025 and is estimated to grow to around US$56.01 billion by 2033, with a compound annual growth rate (CAGR) of 7.7% from 2025 to 2033.
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U.S. Soil Remediation Market: The U.S. soil remediation market size was approximately USD 8.8 billion in 2025. It is predicted to reach around USD 15.38 billion by 2034, registering a CAGR of 6.36% from 2025 to 2034.
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Kuwait Oil-Contaminated Soil Remediation: While a traditional annual market size for Kuwait is not readily available, significant funding has been allocated for the remediation of oil-contaminated soil. The United Nations Compensation Commission (UNCC) is contributing US$3 billion towards the clean-up of approximately 26 million cubic meters of oil-contaminated soil across 300 square kilometers in Kuwait.
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Vivakor (NASDAQ: VIVK) is anticipated to drive future revenue growth over the next 2-3 years through several key initiatives and expanded operations:
- Expansion and Integration of Midstream Energy Logistics and Storage: Vivakor's revenue growth in 2025 was significantly driven by the full-year contribution from the acquisition of the Endeavor Entities on October 1, 2024, which expanded its operational footprint in the midstream oil and gas sector. The company aims to further expand its diversified infrastructure assets organically and through acquisitions. A definitive merger agreement with Empire Diversified Energy, signed in March 2024 and expected to close by the end of Q3 2024, is projected to provide synergies for expansion and accelerate revenue growth.
- Growth in Oilfield Waste Remediation and Hydrocarbon Recovery Services: Vivakor is preparing to launch a new remediation processing center in Houston by the first quarter of 2026. Additionally, upon the successful closing of the Empire Diversified Energy merger, the company intends to construct and deploy its fourth Remediation Processing Center (RPC IV) at The Port of West Virginia. These new facilities and the company's focus on environmental sustainability and specialized oilfield waste remediation are expected to capitalize on the increasing demand for eco-friendly solutions and provide more stable, recurring revenue streams.
- Scaling of Crude Oil Supply and Trading Operations: The introduction of supply and trading activities during 2025 contributed to Vivakor's revenue increase. The launch of their crude oil trading platform and successful transactions, such as a $24 million major transaction and a $23 million liquefied petroleum gas trade, demonstrate operational capability and an ability to scale volume in this new vertical, backed by a $40 million financing facility.
- Increased Utilization and Optimization of Existing Energy Infrastructure Assets: The company has attributed improvements in gross margin to higher-margin transportation and logistics activities and enhanced asset utilization. Vivakor's integrated facilities for crude oil and produced water gathering, storage, transportation, and reuse, operating under long-term contracts, represent a foundation for stable and recurring revenue. Ongoing expansion projects are expected to support further increases in demand and revenue through more efficient use of these assets.
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Share Issuance
- On February 16, 2022, Vivakor completed an underwritten public offering of 1,600,000 shares of common stock, generating aggregate gross proceeds of $8.0 million.
- Between October and December 2025, Vivakor entered into Securities Purchase Agreements to issue a total of 21,509,090 shares of common stock and 8,566,666 pre-funded warrants, with offering prices of $0.22 and $0.18 per share, respectively.
- Vivakor issued approximately 56.17 million shares of restricted common stock to investors as part of forbearance and note amendment agreements on January 30, 2026, related to convertible promissory notes with an original aggregate principal amount of $5,117,647.06.
Inbound Investments
- Between June 6 and June 9, 2025, Vivakor received $4,350,000 before customary fees from convertible promissory notes with an aggregate principal amount of $5,117,647.06, issued to seven non-affiliated accredited investors.
- On July 15, 2025, Vivakor received $4,400,000 in cash proceeds related to a loan and security agreement that included a junior secured convertible promissory note.
- Vivakor received $8.0 million in aggregate gross proceeds from an underwritten public offering of its common stock, which closed on February 16, 2022.
Outbound Investments
- On August 1, 2022, Vivakor acquired all membership interests in Silver Fuels Delhi, LLC and White Claw Colorado City, LLC for approximately $32.9 million, paid in a combination of common stock, secured promissory notes, and assumed liabilities.
- On December 22, 2025, Vivakor signed a non-binding letter of intent to acquire Coyote Oilfield Services, LLC to expand its midstream infrastructure, oilfield services, and energy marketing capabilities.
Capital Expenditures
- Vivakor's capital expenditures for the trailing twelve months (TTM) were approximately $25.52 thousand.
Peer Outperformance in Integrated Oil & Gas
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Oil & Gas Refining & Marketing | 11 | 113.0% | 116.4% | 407.7% | PBF 768% · MPC 646% · VLO 569% |
| Integrated Oil & Gas ← | 7 | 50.3% | 53.7% | 246.3% | IMO 432% · SU 346% · CVE 319% |
| Oil & Gas Storage & Transportation | 18 | 33.9% | 122.9% | 227.7% | INSW 828% · LPG 783% · TRGP 615% |
| Oil & Gas Equipment & Services | 34 | 63.3% | 23.3% | 125.2% | FTI 1129% · SEI 775% · TDW 725% |
| Coal & Consumable Fuels | 14 | 28.8% | 57.1% | 112.0% | EU 1144% · LEU 450% · CCJ 373% |
| Oil & Gas Exploration & Production | 51 | 31.1% | 5.9% | 110.9% | KGEI 8100% · OBE 7152% · EP 3033% |
| Oil & Gas Drilling | 7 | 69.7% | 1.9% | 100.8% | VAL 188% · PDS 168% · NE 116% |
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Day 7 of Loss Streak for Vivakor Stock with -54% Return (vs. -78% YTD) [9/29/2025] | 09/30/2025 |
| Title | |
|---|---|
| ARTICLES |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 43.73 |
| Mkt Cap | 15.8 |
| Rev LTM | 6,244 |
| Op Inc LTM | 335 |
| FCF LTM | 210 |
| FCF 3Y Avg | 254 |
| CFO LTM | 903 |
| CFO 3Y Avg | 1,060 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 1.5% |
| Rev Chg 3Y Avg | 1.8% |
| Rev Chg Q | 11.2% |
| QoQ Delta Rev Chg LTM | 3.3% |
| Op Inc Chg LTM | 23.3% |
| Op Inc Chg 3Y Avg | 10.7% |
| Op Mgn LTM | 4.8% |
| Op Mgn 3Y Avg | 7.8% |
| QoQ Delta Op Mgn LTM | 0.8% |
| CFO/Rev LTM | 14.5% |
| CFO/Rev 3Y Avg | 16.6% |
| FCF/Rev LTM | 3.0% |
| FCF/Rev 3Y Avg | 2.7% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Supply and Trading Segment | 58 | ||||
| Transportation Logistics Segment | 35 | 19 | 0 | ||
| Terminaling and Storage Segment | 12 | 71 | 59 | ||
| Corporate and other | 0 | 0 | |||
| Product revenue - related party | 7 | ||||
| Product revenue - third parties | 21 | ||||
| Single segment | 1 | ||||
| Total | 104 | 90 | 59 | 28 | 1 |
| $ Mil | 2024 | 2023 |
|---|---|---|
| Terminaling and Storage Segment | -0 | 1 |
| Transportation Logistics Segment | -2 | 0 |
| Corporate and other | -19 | -8 |
| Total | -22 | -6 |
| $ Mil | 2024 | 2023 |
|---|---|---|
| Terminaling and Storage Segment | -2 | 1 |
| Transportation Logistics Segment | -4 | 0 |
| Corporate and other | -17 | -11 |
| Total | -22 | -11 |
Price Behavior
| Market Price | $0.82 | |
| Market Cap ($ Bil) | 0.0 | |
| First Trading Date | 09/03/2009 | |
| Distance from 52W High | -100.0% | |
| 50 Days | 200 Days | |
| DMA Price | $2.77 | $72.61 |
| DMA Trend | down | down |
| Distance from DMA | -70.3% | -98.9% |
| 3M | 1YR | |
| Volatility | 240.9% | 247.0% |
| Downside Capture | 872.09 | 707.78 |
| Upside Capture | -568.69 | -372.43 |
| Correlation (SPY) | -7.3% | 3.0% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.71 | -2.03 | -1.81 | -0.16 | 0.54 | 0.39 |
| Up Beta | -3.95 | -2.03 | -1.02 | 1.65 | 2.58 | 0.71 |
| Down Beta | 7.80 | -16.29 | -5.18 | -5.42 | -2.86 | -0.27 |
| Up Capture | -525% | -418% | -362% | -135% | -71% | -7% |
| Bmk +ve Days | 10 | 21 | 32 | 68 | 138 | 427 |
| Stock +ve Days | 4 | 10 | 15 | 42 | 86 | 307 |
| Down Capture | 1056% | 772% | 448% | 296% | 201% | 112% |
| Bmk -ve Days | 11 | 21 | 32 | 59 | 113 | 324 |
| Stock -ve Days | 16 | 31 | 46 | 80 | 156 | 414 |
[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 VIVK | |
|---|---|---|---|---|
| VIVK | -100.0% | 246.6% | -2.00 | - |
| Sector ETF (XLE) | 47.5% | 21.7% | 1.70 | 6.7% |
| Equity (SPY) | 19.7% | 12.8% | 1.13 | 3.5% |
| Gold (GLD) | 24.6% | 29.2% | 0.75 | -5.2% |
| Commodities (DBC) | 43.8% | 20.3% | 1.67 | 4.1% |
| Real Estate (VNQ) | 9.1% | 13.6% | 0.39 | 12.5% |
| Bitcoin (BTCUSD) | -28.1% | 43.8% | -0.63 | 4.1% |
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 VIVK | |
|---|---|---|---|---|
| VIVK | -88.1% | 161.0% | -0.55 | - |
| Sector ETF (XLE) | 25.4% | 25.7% | 0.86 | 10.1% |
| Equity (SPY) | 12.8% | 17.2% | 0.57 | 4.1% |
| Gold (GLD) | 19.1% | 18.8% | 0.82 | 0.7% |
| Commodities (DBC) | 10.7% | 19.5% | 0.43 | 7.8% |
| Real Estate (VNQ) | 1.7% | 18.9% | -0.01 | 6.4% |
| Bitcoin (BTCUSD) | 10.2% | 52.6% | 0.38 | 2.2% |
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 VIVK | |
|---|---|---|---|---|
| VIVK | -63.5% | 174.3% | 0.23 | - |
| Sector ETF (XLE) | 10.6% | 29.6% | 0.39 | 6.1% |
| Equity (SPY) | 15.3% | 17.9% | 0.72 | 4.1% |
| Gold (GLD) | 12.4% | 16.3% | 0.62 | 0.6% |
| Commodities (DBC) | 7.9% | 18.1% | 0.35 | 5.0% |
| Real Estate (VNQ) | 4.8% | 20.7% | 0.19 | 6.5% |
| Bitcoin (BTCUSD) | 63.7% | 66.2% | 1.03 | 1.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 6/2/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/19/2026 | 10-Q |
| 03/31/2026 | 05/20/2026 | 10-Q |
| 12/31/2025 | 04/15/2026 | 10-K |
| 09/30/2025 | 11/19/2025 | 10-Q |
| 06/30/2025 | 08/19/2025 | 10-Q |
| 03/31/2025 | 05/20/2025 | 10-Q |
| 12/31/2024 | 04/15/2025 | 10-K |
| 09/30/2024 | 11/19/2024 | 10-Q |
| 06/30/2024 | 08/16/2024 | 10-Q |
| 03/31/2024 | 05/20/2024 | 10-Q |
| 12/31/2023 | 04/17/2024 | 10-K |
| 09/30/2023 | 11/20/2023 | 10-Q |
| 06/30/2023 | 08/21/2023 | 10-Q |
| 03/31/2023 | 07/28/2023 | 10-Q |
| 12/31/2022 | 05/25/2023 | 10-K |
| 09/30/2022 | 11/21/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/19/2026 | 10-Q |
| 03/31/2026 | 05/20/2026 | 10-Q |
| 12/31/2025 | 04/15/2026 | 10-K |
| 09/30/2025 | 11/19/2025 | 10-Q |
| 06/30/2025 | 08/19/2025 | 10-Q |
| 03/31/2025 | 05/20/2025 | 10-Q |
| 12/31/2024 | 04/15/2025 | 10-K |
| 09/30/2024 | 11/19/2024 | 10-Q |
| 06/30/2024 | 08/16/2024 | 10-Q |
| 03/31/2024 | 05/20/2024 | 10-Q |
| 12/31/2023 | 04/17/2024 | 10-K |
| 09/30/2023 | 11/20/2023 | 10-Q |
| 06/30/2023 | 08/21/2023 | 10-Q |
| 03/31/2023 | 07/28/2023 | 10-Q |
| 12/31/2022 | 05/25/2023 | 10-K |
| 09/30/2022 | 11/21/2022 | 10-Q |
| 06/30/2022 | 08/22/2022 | 10-Q |
| 03/31/2022 | 05/13/2022 | 10-Q |
| 12/31/2021 | 04/15/2022 | 10-K |
| 12/31/2020 | 05/02/2022 | 10-K/A |
| 09/30/2010 | 11/22/2010 | 10-Q |
| 06/30/2010 | 08/24/2010 | 10-Q |
| 03/31/2010 | 05/24/2010 | 10-Q |
| 12/31/2009 | 03/30/2010 | 10-K |
| 09/30/2009 | 11/16/2009 | 10-Q |
| 06/30/2009 | 07/31/2009 | 10-Q |
| 03/31/2009 | 07/16/2009 | 10-Q |
| 12/31/2008 | 07/08/2009 | 10-K |
Industry Resources
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.