TALO

MKT CAP:$3B

Talos Energy Inc.

Market Cap

$3B

Energy·Oil & Gas Exploration & Production·🇺🇸 United States·NYSE

Energy·Oil & Gas Exploration & Production·🇺🇸·NYSE

Stock Price

$15.23+$3.98 (+35.38%)

Apr 23, 2026

Company Details

Talos Energy Inc., an independent exploration and production company, focuses on the exploration and production of oil and natural gas properties in the United States Gulf of Mexico and offshore Mexico. As of December 31, 2021, the company ...

CEO

Paul R. A. Goodfellow

IPO Date

May 10, 2018

Website

www.talosenergy.com

Key Metrics TTM

Revenue

$1.9B

-0.0% YoY

Net Income

-$356M

EPS (Diluted)

-$2.01

Free Cash Flow

$930M

Revenue / Share

$10.81

Gross Margin

14.7%

Operating Margin

-15.4%

Net Margin

-19.0%

FCF Margin

49.6%

P/S

1.4x

P/E

—

Earnings Reports

Q4 2025

May 5, 2026

PENDING

FY 2025

Feb 24, 2026

$1.8B-9.8%EPS -$2.82

Q3 2025

Nov 5, 2025

$450M-11.6%EPS -$0.55

Q2 2025

Aug 6, 2025

$425M-22.7%EPS -$1.05

Q1 2025

May 5, 2025

$513M+19.3%EPS -$0.05

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 21	$383M	$201M	$124M
Q1 22	$414M	$255M	$218M
Q2 22	$519M	$326M	$276M
Q3 22	$377M	$202M	$164M
Q4 22	$342M	$143M	$79M
Q1 23	$323M	$93M	$8M
Q2 23	$367M	$96M	$40M
Q3 23	$383M	$116M	$127M
Q4 23	$385M	$98M	$35M
Q1 24	$430M	$79M	$68M
Q2 24	$549M	$102M	$54M
Q3 24	$509M	$71M	$24M
Q4 24	$485M	$100M	$27M
Q1 25	$513M	$104M	$43M
Q2 25	$425M	$18M	-$274M
Q3 25	$450M	$54M	-$86M

Valuation

Quarter	P/S	P/E
Q4 21	2.0x	—
Q1 22	1.8x	—
Q2 22	1.6x	13.1x
Q3 22	1.5x	5.5x
Q4 22	1.5x	6.6x
Q1 23	1.6x	4.7x
Q2 23	1.8x	7.1x
Q3 23	1.8x	24.3x
Q4 23	1.7x	13.5x
Q1 24	1.6x	—
Q2 24	1.4x	—
Q3 24	1.4x	34.2x
Q4 24	1.3x	—
Q1 25	1.2x	96.6x
Q2 25	1.3x	—
Q3 25	1.4x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 21	$124M	-$170M
Q1 22	$114M	$60M
Q2 22	$241M	$167M
Q3 22	$185M	$103M
Q4 22	$171M	$57M
Q1 23	$63M	$55M
Q2 23	$214M	$206M
Q3 23	$66M	-$74M
Q4 23	$176M	$53M
Q1 24	$96M	-$50M
Q2 24	$289M	$289M
Q3 24	$227M	$227M
Q4 24	$349M	$196M
Q1 25	$268M	$268M
Q2 25	$352M	$352M
Q3 25	$114M	$114M

Capital Expenditures

Quarter	CapEx
Q4 21	$293M
Q1 22	$54M
Q2 22	$74M
Q3 22	$82M
Q4 22	$114M
Q1 23	$8M
Q2 23	$8M
Q3 23	$140M
Q4 23	$123M
Q1 24	$146M
Q2 24	$0
Q3 24	$0
Q4 24	$154M
Q1 25	$0
Q2 25	$0
Q3 25	$0

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 21	+121.9%	-43.5%
Q1 22	+54.9%	-3.1%
Q2 22	+70.9%	+15.5%
Q3 22	+29.6%	+7.3%
Q4 22	-10.6%	+1.9%
Q1 23	-22.0%	+60.5%
Q2 23	-29.3%	+34.4%
Q3 23	+1.6%	+20.3%
Q4 23	+12.5%	+32.9%
Q1 24	+33.3%	+15.0%
Q2 24	+49.6%	+51.4%
Q3 24	+32.9%	+89.5%
Q4 24	+26.0%	+30.8%
Q1 25	+19.3%	+29.7%
Q2 25	-22.7%	+41.1%
Q3 25	-11.6%	+10.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 21	$3M	0.7%
Q1 22	$3M	0.8%
Q2 22	$4M	0.8%
Q3 22	$4M	1.1%
Q4 22	$4M	1.2%
Q1 23	$4M	1.2%
Q2 23	$5M	1.3%
Q3 23	$393.0K	0.1%
Q4 23	$4M	1.0%
Q1 24	$3M	0.6%
Q2 24	$3M	0.5%
Q3 24	$3M	0.7%
Q4 24	$6M	1.2%
Q1 25	$4M	0.8%
Q2 25	$4M	1.0%
Q3 25	$5M	1.1%

OpEx Breakdown

Quarter	G&A
Q4 21	$20M
Q1 22	$23M
Q2 22	$23M
Q3 22	$25M
Q4 22	$29M
Q1 23	$63M
Q2 23	$33M
Q3 23	$25M
Q4 23	$37M
Q1 24	$70M
Q2 24	$48M
Q3 24	$42M
Q4 24	$42M
Q1 25	$35M
Q2 25	$39M
Q3 25	$42M

Revenue Segments

Quarter	Natural Gas Liquids	Natural Gas, Production	Oil and Condensate
Q4 21	$18M	$45M	$320M
Q1 22	$17M	$43M	$354M
Q2 22	$19M	$70M	$429M
Q3 22	$13M	$68M	$296M
Q4 22	$10M	$46M	$286M
Q1 23	$10M	$20M	$293M
Q2 23	$8M	$16M	$343M
Q3 23	$7M	$17M	$359M
Q4 23	$8M	$15M	$363M
Q1 24	$13M	$24M	$393M
Q2 24	$16M	$26M	$507M
Q3 24	—	$26M	$468M
Q1 25	—	$53M	$441M
Q2 25	—	$39M	$373M
Q3 25	—	$41M	$400M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$78M	$0	$78M
Q2 22	$108M	$0	$108M
Q3 22	$64M	$0	$64M
Q4 22	$44M	$0	$44M
Q1 23	$16M	$0	$16M
Q2 23	$18M	$0	$18M
Q3 23	$14M	$0	$14M
Q4 23	$34M	$0	$34M
Q1 24	$21M	$0	$21M
Q2 24	$38M	$0	$38M
Q3 24	$46M	$0	$46M
Q4 24	$108M	$0	$108M
Q1 25	$203M	$0	$203M
Q2 25	$357M	$0	$357M
Q3 25	$333M	$0	$333M
Q4 25	$363M	$0	$363M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 21	83M	+0.8%	+9.8%
Q1 22	82M	-0.6%	+0.8%
Q2 22	84M	+1.9%	+2.3%
Q3 22	84M	+0.2%	+2.3%
Q4 22	84M	+0.7%	+2.3%
Q1 23	107M	+26.7%	+30.3%
Q2 23	126M	+17.5%	+50.2%
Q3 23	124M	-1.2%	+48.1%
Q4 23	125M	+0.9%	+48.3%
Q1 24	158M	+26.6%	+48.2%
Q2 24	184M	+15.9%	+46.2%
Q3 24	181M	-1.7%	+45.5%
Q4 24	180M	-0.3%	+43.9%
Q1 25	180M	+0.1%	+13.7%
Q2 25	177M	-1.5%	-3.4%
Q3 25	173M	-2.3%	-4.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 21	$864.5K	443
Q1 22	$933.6K	443
Q2 22	$1M	443
Q3 22	$851.3K	443
Q4 22	$772.5K	443
Q1 23	$728.2K	443
Q2 23	$828.9K	443
Q3 23	$864.9K	443
Q4 23	$641.6K	600
Q1 24	$716.6K	600
Q2 24	$915.3K	600
Q3 24	$848.8K	600
Q4 24	$693.1K	700
Q1 25	$732.9K	700
Q2 25	$606.7K	700
Q3 25	$642.9K	700

Revenue / Employee