Mammoth Energy Services (TUSK)
NASDAQ:TUSK
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Mammoth Energy Services
(NASDAQ:TUSK)
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Rating:65Neutral
Price Target:
$3.50
▲(94.44% Upside)
Action:Reiterated
Date:05/14/26
The score is held back by weak TTM fundamentals (sharp revenue contraction, heavy losses, and negative operating/free cash flow) despite a strong low-leverage balance sheet. Offsetting this, the latest earnings call showed a meaningful operational inflection with raised 2026 guidance and a return to positive adjusted EBITDA, and the chart setup is bullish with price above all key moving averages and positive momentum. Valuation is supportive via a low P/E, while the lack of dividend yield data and remaining segment execution/margin risks temper the upside.
Positive Factors
Balance Sheet Strength
A debt-free balance sheet with $125.1M in cash and marketable securities provides durable financial flexibility for cyclic oilfield services. It supports disciplined capital allocation, leasing investments, share repurchases, and weathering low activity periods without immediate refinancing pressure.
Negative Factors
Sharp Revenue Contraction
A near 40% TTM revenue decline signals structural demand volatility and execution gaps. Persistent top-line weakness undermines operating leverage, makes margin recovery harder, and requires sustained multi-quarter volume and pricing improvements to normalize profitability and returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance Sheet Strength
A debt-free balance sheet with $125.1M in cash and marketable securities provides durable financial flexibility for cyclic oilfield services. It supports disciplined capital allocation, leasing investments, share repurchases, and weathering low activity periods without immediate refinancing pressure.
Read all positive factors
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 (TUSK) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$155.59M
Dividend YieldN/A
Average Volume (3M)288.94K
Price to Earnings (P/E)5.7
Beta (1Y)0.17
Revenue Growth-69.74%
EPS Growth63.94%
CountryUS
Employees639
SectorIndustrials
Sector Strength72
IndustryConglomerates
Share Statistics
EPS (TTM)-1.47
Shares Outstanding48,170,647
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-1.00
Enterprise Value/Market Cap0.43
Enterprise Value/Revenue1.06
Enterprise Value/Gross Profit-16.34
Enterprise Value/Ebitda-2.99
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 makes money by delivering fee-based services and renting/providing equipment under customer contracts, with revenue generally recognized as services are performed (time-and-materials, per-job/per-stage, per-day, or similar service p...
Mammoth Energy Services Earnings Call Summary
Earnings Call Date:May 11, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 07, 2026
Earnings Call Sentiment Positive
The call was materially positive: the company reported very strong sequential and year-over-year revenue growth, returned to positive adjusted EBITDA and net income, reduced SG&A meaningfully with a clear path to lower run-rates, strengthened the aviation rental portfolio with disciplined capital allocation, and raised full-year guidance (including a pull-forward to full-year EBITDA positivity). Offsetting items include below-expectation margins in sand, margin pressure in drilling due to front-loaded costs, and a still-developing infrastructure/fiber business that will drag EBITDA in 2026. On balance, the positive operational inflection points, robust balance sheet ($125M cash, debt-free), and upgraded outlook outweigh the remaining execution and margin challenges.Positive Updates
Strong Revenue Growth
Consolidated revenue was $22.0M, up 90% year-over-year and 133% sequentially (Q1 2026 vs Q1 2025 and Q4 2025). Full-year revenue guidance raised to greater than 60% growth (from ~50%).
Negative Updates
Sand Segment Margin Shortfall
Sand revenue improved to $3.9M, up 129% sequentially, with ~156,000 tons sold at an average price of $19.49/ton, but segment margins remained below expectations due to pricing mix (higher coarse grade proportion) and operational inefficiencies; railcar lease optimization and margin capture remain priorities.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Revenue Growth
Consolidated revenue was $22.0M, up 90% year-over-year and 133% sequentially (Q1 2026 vs Q1 2025 and Q4 2025). Full-year revenue guidance raised to greater than 60% growth (from ~50%).
Read all positive updates
Company Guidance
Management raised 2026 guidance, now expecting full‑year adjusted EBITDA to be positive (a year earlier than previously guided) and full‑year revenue growth of greater than 60% (up from ~50%), driven by Q1 momentum (Q1 revenue $22.0M; Q1 adjusted EBITDA $1.9M). They said drilling is expected to reach EBITDA positive in 2026 while infrastructure will carry an EBITDA overhang through 2026 despite a $1.9M fiber fleet investment to position for back‑half demand; four of six engines acquired post‑quarter (part of $25.7M deployed) are expected to go on lease in Q2. Other related metrics cited include $125.1M of cash and marketable securities, just over $90M deployed in the aviation portfolio, a targeted SG&A run‑rate of ~$11–12M, and ongoing share‑repurchase capacity up to the lesser of $55M or 10M shares (187k shares repurchased for $400k at an average $2.14).Mammoth Energy Services Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
72
Positive
Cash Flow
22
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 62.70M | 44.29M | 187.93M | 309.49M | 362.09M | 228.96M |
| Gross Profit | -4.07M | -8.56M | -7.90M | 16.54M | 19.23M | -47.84M |
| EBITDA | -22.28M | -17.84M | -168.25M | 70.44M | 88.77M | -39.41M |
| Net Income | -71.00M | -63.76M | -207.33M | -3.16M | -619.00K | -101.43M |
Balance Sheet | ||||||
| Total Assets | 344.74M | 334.89M | 384.03M | 698.48M | 724.68M | 720.89M |
| Cash, Cash Equivalents and Short-Term Investments | 125.16M | 121.62M | 60.97M | 16.56M | 17.28M | 11.66M |
| Total Debt | 2.71M | 3.45M | 18.03M | 63.26M | 120.20M | 115.44M |
| Total Liabilities | 81.79M | 76.61M | 131.21M | 238.38M | 262.06M | 257.67M |
| Stockholders Equity | 262.95M | 258.29M | 252.82M | 460.10M | 462.62M | 463.22M |
Cash Flow | ||||||
| Free Cash Flow | -99.06M | -89.12M | 163.65M | 11.99M | 2.53M | -24.71M |
| Operating Cash Flow | -24.03M | -18.57M | 180.72M | 31.39M | 15.27M | -18.86M |
| Investing Cash Flow | 51.78M | 54.55M | -10.43M | -8.79M | -2.12M | 5.51M |
| Financing Cash Flow | -954.00K | -4.29M | -112.11M | -15.59M | -5.60M | 8.43M |
Mammoth Energy Services Technical Analysis
Positive
1.80
Price Trends
2.66
Positive
2.46
Positive
2.30
Positive
Market Momentum
0.19
Negative
60.76
Neutral
44.33
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 2.96, below the 50-day MA of 2.66, and below the 200-day MA of 2.30, indicating a bullish trend. The MACD of 0.19 indicates Negative momentum. The RSI at 60.76 is Neutral, neither overbought nor oversold. The STOCH value of 44.33 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 |
|---|---|---|---|---|---|---|---|
65 Neutral | $155.59M | 5.71 | -27.50% | ― | -69.74% | 63.94% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
56 Neutral | $144.60M | -2.64 | -22.42% | ― | -3.08% | -9.56% | |
54 Neutral | $871.98M | -4.81 | -46.27% | 20.53% | 7.52% | -1.67% | |
52 Neutral | $548.28M | -1.28 | -41.74% | 1.90% | 72.20% | -267.01% | |
51 Neutral | $529.01M | 841.11 | 0.36% | ― | 19.20% | -21.40% | |
50 Neutral | $153.80M | 9.56 | 37.76% | ― | 9.30% | 22.99% |
* Industrials Sector Average
TUSK
Mammoth Energy Services
3.22
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21.51%
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NNBR
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RCMT
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21.27
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-6.34%
TRC
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19.47
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FIP
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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.