Mammoth Energy Services (TUSK)
NASDAQ:TUSK
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Mammoth Energy Services
(NASDAQ:TUSK)
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Rating:52Neutral
Price Target:
$2.00
▲(11.11% Upside)
Action:ReiteratedDate:03/07/26
The score is held back primarily by weak and volatile financial performance (persistent losses, sharp revenue contraction, and a 2025 cash flow reversal). Offsetting this is a constructive earnings outlook supported by a strong, debt-free liquidity position and specific growth/EBITDA targets, while technicals remain mixed and valuation lacks support due to negative earnings and no dividend.
Positive Factors
Debt-free balance sheet & liquidity
Quarter-end unrestricted cash of $121.6M and ~$158.3M total liquidity, plus a debt‑free position, provide durable financial flexibility. This capital buffer funds targeted CapEx, absorbs execution volatility, and supports management's >50% 2026 revenue growth target without adding leverage.
Negative Factors
Persistent losses & cash flow reversal
The company has posted persistent net losses and a sharp revenue contraction; operating cash flow flipped from positive in 2024 to negative in 2025 with deeply negative free cash flow. These structural earnings and cash‑generation weaknesses undermine return on capital and constrain reinvestment capacity.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-free balance sheet & liquidity
Quarter-end unrestricted cash of $121.6M and ~$158.3M total liquidity, plus a debt‑free position, provide durable financial flexibility. This capital buffer funds targeted CapEx, absorbs execution volatility, and supports management's >50% 2026 revenue growth target without adding leverage.
Read all positive factors
Mammoth Energy Services (TUSK) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$112.67M
Dividend YieldN/A
Average Volume (3M)288.94K
Price to Earnings (P/E)―
Beta (1Y)0.53
Revenue Growth-21.67%
EPS Growth60.44%
CountryUS
Employees639
SectorIndustrials
Sector Strength72
IndustryConglomerates
Share Statistics
EPS (TTM)-0.26
Shares Outstanding48,358,315
10 Day Avg. Volume502,892
30 Day Avg. Volume288,935
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)0.35
Price to Sales (P/S)2.02
P/FCF Ratio-0.99
Enterprise Value/Market Cap0.13
Enterprise Value/Revenue0.14
Enterprise Value/Gross Profit-4.57
Enterprise Value/Ebitda-0.79
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.05
Revenue Forecast (FY)$210.12M
Mammoth Energy Services Business Overview & Revenue Model
Company Description
Mammoth Energy Services (TUSK) is a diversified energy services company that operates primarily in the oil and gas sector. The company provides a wide range of services including pressure pumping, logistics, and other ancillary services that suppo...
How the Company Makes Money
Mammoth Energy Services generates revenue through several key streams, primarily by offering specialized services to oil and gas producers. Its revenue model is driven by contract-based agreements for pressure pumping services, which involve hydra...
Mammoth Energy Services Key Performance Indicators (KPIs)
Any
Adjusted EBITDA by Segment
Shows each segment’s operating profit after removing one-time items and accounting differences, highlighting which businesses generate the most cash profit and where margins are strongest or weakest. Helps evaluate operational efficiency, capital-allocation priorities and how vulnerable Mammoth is to downturns in drilling and production activity.
Shows each segment’s operating profit after removing one-time items and accounting differences, highlighting which businesses generate the most cash profit and where margins are strongest or weakest. Helps evaluate operational efficiency, capital-allocation priorities and how vulnerable Mammoth is to downturns in drilling and production activity.
Data provided by:
The Fly
The FlyMammoth Energy Services Earnings Call Summary
Earnings Call Date:Mar 06, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 23, 2026
Earnings Call Sentiment Neutral
The call presents a mixed but constructive picture: strong balance sheet, meaningful proceeds from asset sales, and a deliberate, well-funded pivot into aviation that is already producing revenue momentum are notable positives. However, Q4 saw material execution and cost-control failures (notably in fiber, sand, and drilling) that produced significant adjusted EBITDA and net losses, and there is acknowledged underinvestment in certain segments that must be corrected. Management has outlined concrete corrective actions, additional targeted CapEx, and a public goal of returning to positive EBITDA in 2026 and mid-teens margins by 2027. Given substantial liquidity and a clear remediation plan but near-term performance and profitability risks, the overall tone is cautiously balanced between opportunity and execution risk.Positive Updates
Portfolio Monetization and Significant Proceeds
Completed four major transactions in 2025 generating approximately $150,000,000 of proceeds (sales of transmission & distribution and engineering businesses; exits of pressure pumping equipment and a sand mine), demonstrating ability to realize value and refocus the portfolio.
Negative Updates
Consolidated Revenue Decline and Material Q4 Losses
Total Q4 revenue of $9,500,000 was down 13% sequentially and 6% year-over-year; full-year 2025 revenue $44,300,000 was down ~3% versus 2024. Q4 net loss from continuing operations was $12,300,000 (loss per diluted share $0.26 versus $0.20 prior-year Q4) and adjusted EBITDA loss from continuing operations was $(6,800,000) versus $(6,000,000) prior-year period.
Read all updates
Q4-2025 Updates
Positive
Negative
Portfolio Monetization and Significant Proceeds
Completed four major transactions in 2025 generating approximately $150,000,000 of proceeds (sales of transmission & distribution and engineering businesses; exits of pressure pumping equipment and a sand mine), demonstrating ability to realize value and refocus the portfolio.
Read all positive updates
Company Guidance
The company guided to greater than 50% revenue growth in 2026 versus 2025, driven primarily by a full year of aviation at higher utilization and improved asset utilization across oil & gas segments; aviation monthly revenue nearly doubled from $600k in December to $1.0M in January and the portfolio can generate roughly $1.6M per month when fully utilized, with 26 aviation assets (15 at the end of Q3 plus 11 added in Q4), 16 of which were on lease at quarter-end and the remainder expected to be leased in 2026. Management expects to return to positive EBITDA in 2026 and to achieve mid‑teens EBITDA margins and positive free cash flow in 2027, will target ~ $11.0M of non‑aviation CapEx in 2026 (after ~ $70.0M total CapEx in 2025 and $25.9M in Q4 2025, nearly all aviation), and plans targeted investments in drilling (add motor and MWD capacity, upgrade power sections in H1) and other segments to improve conversion of revenue to EBITDA; operational indicators include non‑aviation rental assets on rent up 15% sequentially to ~328 pieces and accommodations occupancy up 25%. The balance sheet headroom supporting this plan includes $121.6M of unrestricted cash, ~$158.3M total liquidity including an undrawn credit facility, a debt‑free position, and ongoing monetizations (e.g., $4.6M Ohio property sale).Mammoth Energy Services Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
72
Positive
Cash Flow
34
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 44.29M | 187.93M | 309.49M | 362.09M | 228.96M |
| Gross Profit | -8.56M | -7.90M | 16.54M | 19.23M | -47.84M |
| EBITDA | -17.84M | -168.25M | 70.44M | 88.77M | -39.41M |
| Net Income | -63.76M | -207.33M | -3.16M | -619.00K | -101.43M |
Balance Sheet | |||||
| Total Assets | 334.89M | 384.03M | 698.48M | 724.68M | 720.89M |
| Cash, Cash Equivalents and Short-Term Investments | 121.62M | 60.97M | 16.56M | 17.28M | 11.66M |
| Total Debt | 3.45M | 18.03M | 63.26M | 120.20M | 115.44M |
| Total Liabilities | 76.61M | 131.21M | 238.38M | 262.06M | 257.67M |
| Stockholders Equity | 258.29M | 252.82M | 460.10M | 462.62M | 463.22M |
Cash Flow | |||||
| Free Cash Flow | -90.13M | 163.65M | 11.99M | 2.53M | -24.71M |
| Operating Cash Flow | -19.57M | 180.72M | 31.39M | 15.27M | -18.86M |
| Investing Cash Flow | 54.55M | -10.43M | -8.79M | -2.12M | 5.51M |
| Financing Cash Flow | -4.29M | -112.11M | -15.59M | -5.60M | 8.43M |
Mammoth Energy Services Technical Analysis
Positive
1.80
Price Trends
2.28
Positive
2.10
Positive
2.29
Positive
Market Momentum
-0.03
Positive
53.89
Neutral
44.91
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TUSK, the sentiment is Positive. The current price of 1.8 is below the 20-day moving average (MA) of 2.26, below the 50-day MA of 2.28, and below the 200-day MA of 2.29, indicating a bullish trend. The MACD of -0.03 indicates Positive momentum. The RSI at 53.89 is Neutral, neither overbought nor oversold. The STOCH value of 44.91 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TUSK.
Mammoth Energy Services Risk Analysis
Mammoth Energy Services disclosed 70 risk factors in its most recent earnings report. Mammoth Energy Services reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Mammoth Energy Services Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | $144.54M | 22.76 | 35.58% | ― | 13.70% | -13.35% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
60 Neutral | $510.60M | 5,985.78 | -1.75% | ― | 15.71% | ― | |
52 Neutral | $112.67M | -1.40 | -30.03% | ― | -21.67% | 60.44% | |
52 Neutral | $87.33M | -1.26 | -25.53% | ― | -9.85% | -11.65% | |
52 Neutral | $594.36M | -4.96 | -13.99% | 1.90% | 32.39% | -19.35% | |
50 Neutral | $480.01M | -1.57 | -40.36% | 20.53% | -15.85% | -59.42% |
* Industrials Sector Average
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.