Mammoth Energy Services IncMammoth Energy Services Inc
Mammoth Energy Services Inc

Mammoth Energy Services Inc

TUSK
Industrials·Industrial Conglomerates

Mammoth Energy Services, Inc. engages in the exploration and development of North American onshore unconventional oil and natural gas reserves. It operates through the following segments: Well Completion, Infrastructure, Sand, Drilling, and All Other. The Well Completion segment focuses on hydraulic fracturing and water transfer services primarily in the Utica Shale of Eastern Ohio, Marcellus Shale in Pennsylvania, and the mid-continent region. The Infrastructure segment offers electric utility infrastructure services to government-funded utilities, private utilities, public investor-owned utilities and co-operative utilities in the northeastern, southwestern, midwestern, and western portions of the United States. The Sand segment is involved in mining, processing, and sale of sand for use in hydraulic fracturing. The Drilling segment includes contract land and directional drilling services primarily in the Permian Basin and mid-continent region. The company was founded on June 3, 2016 and is headquartered in Oklahoma City, OK.

Oklahoma; U.S.A
Market cap
No dataNo data
Revenue
$44.3M−76.4% YoY
Net income
$4.6M+102.2% YoY
Free cash flow
$-89.1M−154.5% YoY

Market

Listed stock
TUSKPriceNasdaq
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Financial performance

Revenue
$44.3M−76.4% YoY
Operating income
$-57.4M+55.4% YoY
Net income
$4.6M+102.2% YoY
Free cash flow
$-89.1M−154.5% YoY

Revenue, profit & cash trend

Revenue
Operating income
Net income
Free cash flow
Reference
Revenue: 2021 $229M, 2022 $362.1M, 2023 $309.5M, 2024 $187.9M, 2025 $44.3M. Operating income: 2021 $-128.2M, 2022 $-16.4M, 2023 $-16.7M, 2024 $-128.7M, 2025 $-57.4M. Net income: 2021 $-101.4M, 2022 $-619K, 2023 $-3.2M, 2024 $-207.3M, 2025 $4.6M. Free cash flow: 2021 $-24.7M, 2022 $5.6M, 2023 $12M, 2024 $163.7M, 2025 $-89.1M. Reference line: Reference at $0.

Growth & profitability

Revenue growth
-76.4%−3715 bps YoY
Gross margin
No dataNo data
Operating margin
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FCF margin
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Earnings power over time

Operating income
Net income
Free cash flow
Operating income: 2021-12-31 $-128.2M, 2022-12-31 $-16.4M, 2023-12-31 $-16.7M, 2024-12-31 $-128.7M, 2025-12-31 $-57.4M. Net income: 2021-12-31 $-101.4M, 2022-12-31 $-619K, 2023-12-31 $-3.2M, 2024-12-31 $-207.3M, 2025-12-31 $4.6M. Free cash flow: 2021-12-31 $-24.7M, 2022-12-31 $5.6M, 2023-12-31 $12M, 2024-12-31 $163.7M, 2025-12-31 $-89.1M

Growth heatmap

2022202320242025CAGR
Revenue
+58.1%
-14.5%
-39.3%
-76.4%
-33.7%
Gross profit
+172.6%
-26.2%
+204.8%
-76.4%
+9.7%
Operating income
+87.2%
-1.6%
-671.4%
+55.4%
No data
Free cash flow
+122.5%
+115.4%
+1264.8%
-154.5%
No data

Earnings quality

Operating cash flow
$-18.6M−110.3% YoY
Net income
$4.6M+102.2% YoY
Free cash flow
$-89.1M−154.5% YoY
Diluted EPS
No dataNo data

Cash conversion quality

Operating cash flow
Free cash flow
Net income = 100%
Operating cash flow: 2025-12-31 -404%, 2024-12-31 -87%, 2023-12-31 -992%, 2022-12-31 -2466%, 2021-12-31 19%. Free cash flow: 2025-12-31 -1939%, 2024-12-31 -79%, 2023-12-31 -379%, 2022-12-31 -899%, 2021-12-31 24%. Reference line: Net income = 100% at 100%.

Per-share economics

Diluted EPS
Latest
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FCF / share
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Diluted shares
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Financial flexibility

Cash & equivalents
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Total debt
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Net debt
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Current ratio
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Cash Coverage of Debt

Cash / Total debt
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Returns

Return on equity
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Return on assets
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Return on invested capital
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Asset turnover
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Return on capital

No data

Valuation

Price to earnings
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Price to sales
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EV / EBITDA
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Free cash flow yield
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Valuation vs its own 5Y history

Metric
Own five-year range
Current
Own 5Y median
Position in own range
Price to earnings
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Price to sales
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EV / EBITDA
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Free cash flow yield
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