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Sable Offshore
(NYSE:SOC)
Sable Offshore (SOC) vs. SPDR S&P 500 ETF (SPY)
Sable Offshore Business Overview & Revenue Model
Sable Offshore Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 18.97M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -375.00K | -13.43M | -21.02M | 0.00 | 0.00 | 0.00 |
| EBITDA | -262.54M | -548.37M | -72.66M | -6.15M | -1.68M | -1.66K |
| Net Income | 171.24M | -629.07M | -93.67M | -2.59M | 4.27M | -1.66K |
Balance Sheet | ||||||
| Total Assets | 1.65B | 1.58B | 711.58M | 290.91M | 288.44M | 304.22K |
| Cash, Cash Equivalents and Short-Term Investments | 41.63M | 300.38M | 0.00 | 100.26K | 322.77K | 9.01K |
| Total Debt | 0.00 | 851.45M | 14.18M | 1.78M | 956.12K | 43.63K |
| Total Liabilities | 1.30B | 1.20B | 372.56M | 18.89M | 13.88M | 280.88K |
| Stockholders Equity | 348.08M | 384.19M | 339.02M | 272.02M | 274.56M | 23.34K |
Cash Flow | ||||||
| Free Cash Flow | -538.25M | -259.38M | -3.84M | -1.71M | -2.01M | -540.00 |
| Operating Cash Flow | -291.11M | -187.08M | -3.84M | -1.71M | -2.01M | -537.00 |
| Investing Cash Flow | -376.61M | -276.25M | 231.58M | 786.92K | -287.50M | 0.00 |
| Financing Cash Flow | 385.87M | 745.76M | -227.56M | 705.00K | 289.82M | 9.55K |
Sable Offshore Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $6.85B | -1.95 | -31.70% | ― | 16.93% | -335.82% | |
67 Neutral | $1.77B | 33.70 | 4.33% | 5.99% | 5.83% | -11.86% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
65 Neutral | $3.10B | -34.84 | -2.80% | 5.42% | -16.59% | 83.95% | |
62 Neutral | $2.72B | 89.53 | 1.18% | ― | -9.31% | -91.57% | |
54 Neutral | $3.47B | -11.29 | -11.41% | 3.24% | 35.89% | -148.39% | |
43 Neutral | $1.25B | -2.24 | -141.26% | ― | ― | ― |
Sable Offshore Corporate Events
On February 2, 2026, Sable Offshore Corp. entered into a $250 million at-the-market equity sales agreement with TD Securities (USA) LLC and Jefferies LLC, allowing the company, at its discretion, to issue common stock over time under an existing shelf registration, with the agents earning up to a 3% commission and either party able to terminate the arrangement on 10 days’ notice. In parallel, the company detailed operational and strategic developments, including a planned Offshore Storage and Treating Vessel strategy announced on September 29, 2025 to bypass ongoing delays on the Santa Ynez Pipeline System by enabling shuttle-tanker access to domestic and global markets, an estimated $475 million capital program to implement this plan with targeted first vessel acquisition in the first quarter of 2026 and potential production of more than 50,000 barrels per day from the fourth quarter of 2026, a November 3, 2025 amendment to its senior secured term loan with Exxon that extends maturity to as late as March 31, 2027 while raising the interest rate to 15% and tightening liquidity covenants, and extensive repair, regulatory and litigation activity around resuming petroleum transportation through Santa Ynez Pipeline Segments 324 and 325, including pipeline repairs, safety upgrades, successful hydrotests in May 2025, subsequent federal oversight by PHMSA and approval of a restart plan and emergency special permit in December 2025, as well as ongoing legal challenges by environmental groups, all of which collectively shape the company’s financing needs, pathway to restoring and expanding production, and regulatory risk profile.
The most recent analyst rating on (SOC) stock is a Hold with a $10.00 price target. To see the full list of analyst forecasts on Sable Offshore stock, see the SOC Stock Forecast page.
On December 23, 2025, Sable Offshore Corp. received an emergency special permit from the U.S. Department of Transportation’s Pipeline and Hazardous Material Safety Administration for segments 324 and 325 of the interstate Santa Ynez Pipeline System, authorizing the company to operate those sections under enhanced integrity management practices and specified operational conditions. The approval marks a key regulatory milestone for Sable as it works to restore full transportation of hydrocarbons from the Santa Ynez Unit, which restarted production in May 2025 after a decade-long shutdown but has not yet sold commercial volumes, with oil currently being stored onshore at its Las Flores Canyon facility pending broader resumption of petroleum transportation.
The most recent analyst rating on (SOC) stock is a Buy with a $22.00 price target. To see the full list of analyst forecasts on Sable Offshore stock, see the SOC Stock Forecast page.
On December 22, 2025, the U.S. Department of Transportation’s Pipeline and Hazardous Materials Safety Administration (PHMSA) approved Sable Offshore Corp.’s Restart Plan for the Las Flores Pipeline System, covering Line CA-324 and Line CA-325, formerly known as Plains Line 901 and Line 903. The approval, which followed PHMSA’s review of Sable’s fill and startup procedures, requests to remove pressure restrictions, and a field inspection of restart safety processes, clears a key regulatory hurdle for bringing these pipelines back into service, with potential implications for Sable Offshore’s operational capacity, regional oil transport logistics, and its positioning within the regulated U.S. pipeline network.
The most recent analyst rating on (SOC) stock is a Buy with a $20.00 price target. To see the full list of analyst forecasts on Sable Offshore stock, see the SOC Stock Forecast page.
On December 17, 2025, the Pipeline and Hazardous Materials Safety Administration (PHMSA) officially recognized Sable Offshore Corp.’s determination that the Las Flores Pipeline is an interstate pipeline under the Pipeline Safety Act, granting PHMSA exclusive regulatory authority over its operations. This reclassification to an interstate pipeline status is expected to streamline regulations and shift oversight from the California Office of the State Fire Marshal to PHMSA, improving operational consistency across state and federal lines while maintaining the pipeline’s active status in compliance with PHMSA regulations.
The most recent analyst rating on (SOC) stock is a Buy with a $22.00 price target. To see the full list of analyst forecasts on Sable Offshore stock, see the SOC Stock Forecast page.
On November 26, 2025, Sable Offshore Corp. informed the Pipeline and Hazardous Materials Safety Administration (PHMSA) that its pipeline connecting the Santa Ynez Unit to the Pentland Station terminal in Kern County, CA, qualifies as an interstate pipeline facility under the Pipeline Safety Act. The company is seeking PHMSA’s agreement and guidance on transitioning regulatory oversight from the California Office of the State Fire Marshal to PHMSA. This move is part of Sable Offshore’s dual option offtake strategy, which includes resuming petroleum transportation through its onshore pipeline facilities and utilizing offshore storage and treating vessels to access broader markets.
The most recent analyst rating on (SOC) stock is a Buy with a $22.00 price target. To see the full list of analyst forecasts on Sable Offshore stock, see the SOC Stock Forecast page.
On November 20, 2025, Sable Offshore Corp. announced significant management changes, promoting J. Caldwell Flores to President and Chief Operating Officer, while Doss Bourgeois transitioned to Vice Chairman. Additional appointments included Trent Fontenot as Senior Vice President of Operations, Brian Broussard as Senior Vice President of Development, and Byron Olson as Vice President of Reservoir Engineering. These changes are expected to impact the company’s operational dynamics and strategic direction.
The most recent analyst rating on (SOC) stock is a Buy with a $29.00 price target. To see the full list of analyst forecasts on Sable Offshore stock, see the SOC Stock Forecast page.
On November 10, 2025, Sable Offshore Corp. announced a private placement of $250 million in common stock to institutional investors, with the transaction expected to close on November 12, 2025. The proceeds will be used for general corporate purposes and to meet the equity contribution condition of a Senior Secured Term Loan amendment, with Jefferies and TD Cowen acting as joint placement agents.
The most recent analyst rating on (SOC) stock is a Buy with a $20.00 price target. To see the full list of analyst forecasts on Sable Offshore stock, see the SOC Stock Forecast page.