Empire Petroleum (EP) Balance Sheet: Assets & Liabilities

Empire Petroleum (EP) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), Empire Petroleum reported total assets of $65.87M and total liabilities of $70.48M. Shareholders' equity was negative at −$4.61M, meaning liabilities exceed assets. Total debt stood at $16.08M against $1.19M in cash and short-term investments, a net debt position of $14.89M.

Empire Petroleum Balance Sheet Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for Empire Petroleum Corporation (EP) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2023	FY 2022	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Mar 2024	Dec 2023	Mar 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Current Assets
Cash and Cash Equivalents	1.19	2.25	7.79	7.79	11.94	11.94	3.61	0.16	0.00	0.08	0.08
Cash & Short-Term Investments	1.19	2.25	7.79	7.79	11.94	11.94	3.61	0.16	0.00	0.08	0.08
Accounts Receivable	5.12	8.16	8.35	8.35	7.78	7.78	7.73	1.25	0.98	0.12	0.00
Inventory	1.26	1.31	1.43	1.43	1.84	1.84	1.04	0.53	0.48	0.00	0.00
Other Current Assets	0.61	0.64	1.16	1.16	1.17	1.17	0.73	0.28	0.25	0.16	0.00
Total Current Assets	8.18	12.35	18.74	18.74	22.73	22.73	13.12	2.22	1.71	0.37	0.08
Non-Current Assets
Property, Plant & Equipment (Net)	56.30	110.09	72.40	72.40	45.31	45.31	30.68	8.23	9.31	1.63	0.00
Long-Term Investments	0.00	0.00	0.00	-	2.78	-	4.81	0.00	0.00	0.00	0.30
Other Non-Current Assets	1.39	1.43	1.47	1.47	0.72	3.50	1.48	0.80	0.00	0.00	0.00
Total Non-Current Assets	57.69	111.52	73.87	73.87	48.81	48.81	36.97	9.03	9.31	1.63	0.30
Total Assets	65.87	123.87	92.62	92.62	71.55	71.55	50.09	11.25	11.01	2.00	0.38
Current Liabilities
Accounts Payable	10.80	10.45	16.44	16.44	5.84	5.84	4.33	1.94	1.03	0.32	0.06
Short-Term Debt	0.64	0.07	1.54	1.10	2.32	2.06	1.88	1.30	0.10	0.28	0.14
Current Portion of Long-Term Debt	0.64	0.07	-	1.10	-	2.06	1.70	1.30	-	-	-
Accrued Liabilities	10.32	10.35	-	7.08	-	9.46	5.84	2.70	-	-	-
Deferred Revenue	0.00	0.00	0.00	-	0.00	-	0.00	2.70	1.10	0.00	-0.06
Other Current Liabilities	12.62	7.75	7.08	4.75	9.46	-	5.84	0.05	0.01	0.14	0.00
Total Current Liabilities	24.34	21.27	25.05	25.05	17.62	17.62	12.05	6.07	2.24	0.74	0.20
Non-Current Liabilities
Long-Term Debt	15.44	11.27	5.14	4.60	5.69	5.14	7.56	7.72	7.72	1.18	0.05
Other Non-Current Liabilities	31.71	28.42	27.47	27.47	25.00	25.00	20.64	15.36	6.00	0.23	0.00
Total Non-Current Liabilities	46.14	39.83	32.61	32.61	30.69	30.69	28.20	23.62	13.72	1.41	0.05
Total Liabilities	70.48	61.10	57.66	57.66	48.31	48.31	40.26	29.69	15.95	2.15	0.25
Stockholders' Equity
Common Stock	0.09	0.09	0.09	0.09	0.08	0.08	0.08	0.02	0.02	0.02	0.01
Retained Earnings	-152.89	-80.82	-64.62	-64.62	-52.15	-52.15	-59.23	-40.62	-23.78	-17.13	-16.11
Accumulated Other Comprehensive Income	0.00	0.00	0.00	-	0.00	-	0.00	0.00	0.00	0.00	0.00
Additional Paid-in Capital	148.19	143.49	99.49	99.49	75.30	75.30	68.99	22.15	18.82	16.96	16.23
Shares Outstanding	34.88	33.76	-	26.05	-	22.56	20.26	-	-	-	-
Total Stockholders' Equity	-4.61	62.77	34.96	34.96	23.24	23.24	9.83	-18.44	-4.94	-0.15	0.13
Total Liabilities & Equity	65.87	123.87	92.62	92.62	71.55	71.55	50.09	11.25	11.01	2.00	0.38

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Empire Petroleum Balance Sheet

How much debt does Empire Petroleum have?

Empire Petroleum had total debt of $16.08M as of Dec 31, 2025, against $1.19M in cash and short-term investments. Total debt was $11.34M a year earlier.

What are Empire Petroleum's total assets?

Empire Petroleum reported total assets of $65.87M as of Dec 31, 2025, down 46.8% from $123.87M a year earlier. Total liabilities were $70.48M.

What is Empire Petroleum's shareholders' equity?

Empire Petroleum's shareholders' equity was negative at −$4.61M as of Dec 31, 2025, so its liabilities exceeded its assets.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition