Recent News
07/14/2025: Company announced second-quarter 2025 earnings conference call for results to be released August 6, 2025. 08/06/2025: Permian Resources reported strong Q2 2025 results, raised full-year production guidance, reported $1.0 billion cash from operations, adjusted free cash flow of $312 million, and declared a base dividend of $0.15 per share. 08/06/2025: Board set dividend payable September 30, 2025 to holders of record September 16, 2025. 09/15/2025: Affiliates of Pearl Energy Investments and Riverstone commenced a secondary public offering of Class A common shares; the company will not receive proceeds. 09/19/2025: Scotiabank initiated coverage with a Sector Outperform recommendation and published an analyst price forecast.
Technical Analysis
ADX at 20.65 registers an emerging trend in strength, suggesting technical signals warrant attention but do not show an extended directional regime; this moderates near-term conviction around big directional moves.
Directional indicators show bearish orientation: DI+ reads 15.27 following a peak-and-reverse while DI– registers 26.05 after a dip-and-reversal, which together indicate increasing downside pressure and a shift toward sellers—this pressure weighs on short-term price bias relative to the current valuation.
MACD stands negative at -0.17 with a peak-and-reverse profile and sits below its signal line (-0.06), indicating bearish momentum that reinforces downward pressure on the close-to-term price path.
MRO at -9.15 places the market price below the model target, implying mean-reversion potential that could support intermittent upward moves; that potential must contend with prevailing bearish momentum from trend indicators when assessing near-term price behavior.
RSI at 46.75 recorded a peak-and-reverse and signals a shift toward bearish momentum from prior strength, consistent with MACD and directional indicators and implying limited upward conviction until momentum indicators recover.
Price structure shows the close at $12.38 beneath the 200-day average ($13.36) and below the Ichimoku Senkou cloud (Senkou A $13.43 / Senkou B $13.77), placing price within a technically subordinate position with the SuperTrend upper band at $13.62 acting as a proximate resistance. Short-term averages (20-day $13.28; 12-day EMA $13.16) trended off recent peaks, reinforcing the near-term downside bias even as Bollinger bands compress near the lower band—volatility contraction may precede directional resolution.
Fundamental Analysis
Profitability places the company above many peers: EBIT registers $378,117,000 and an EBIT margin of 31.57%, above the industry peer mean of 17.16% and above the industry peer median of 13.65%. Operating margin measures 32.78%, also above the industry peer mean of 13.87%, underscoring efficient operations relative to peer averages and supporting a premium valuation context.
Revenue and earnings trends reflect recent declines and quarter-to-quarter variability: YoY revenue growth registered -53.40% while QoQ revenue growth came in at -309.55%, and EBIT margin moved -22.75% QoQ and -14.79% YoY, indicating material variability in top-line and margin performance that constrains stable cash conversion despite strong margins on reported periods.
Cash flow and capital deployment show heavy reinvestment: operating cash flow totaled $1,038,696,000 while capital expenditures reached -$1,123,312,000, producing free cash flow of -$84,616,000 and a negative free cash flow yield of -0.88%; the negative free cash conversion ratio (-176.15%) highlights that capex absorbed operational cash and weighs on distributable cash despite a declared $0.15 quarterly base dividend.
Leverage and liquidity present a mixed profile: net debt stands at $3,546,479,000 with debt-to-EBITDA at 4.69 and debt-to-assets at 23.70%, roughly in line with the industry peer mean debt-to-assets of 23.61%; the current ratio at 0.63 falls below the industry peer mean of 1.20, indicating tighter near-term liquidity cushions.
Valuation signals show elevated multiples versus fundamentals: trailing PE stands at 50.40, slightly below the industry peer mean of 52.00 but above the industry peer median of 48.38; price-to-sales at 7.99 exceeds the industry peer mean of 6.05 while price-to-book at 1.01 sits below the industry peer mean of 1.55. WMDST values the stock as over-valued given the combination of high multiples and constrained free cash flow.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-06-30 |
| REPORT DATE: | 2025-08-06 |
| NEXT REPORT DATE: | 2025-11-05 |
| CASH FLOW | Begin Period Cash Flow | $ 702.2 M |
| Operating Cash Flow | $ 1.0 B | |
| Capital Expenditures | $ -1.12 B | |
| Change In Working Capital | $ 221.7 M | |
| Dividends Paid | $ -105.71 M | |
| Cash Flow Delta | $ -251.23 M | |
| End Period Cash Flow | $ 451.0 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 1.2 B | |
| Forward Revenue | $ 385.2 M | |
| COSTS | ||
| Cost Of Revenue | $ 750.1 M | |
| Depreciation | — | |
| Depreciation and Amortization | — | |
| Research and Development | — | |
| Total Operating Expenses | $ 805.0 M | |
| PROFITABILITY | ||
| Gross Profit | $ 447.5 M | |
| EBITDA | $ 884.5 M | |
| EBIT | $ 378.1 M | |
| Operating Income | $ 392.6 M | |
| Interest Income | $ -2.16 M | |
| Interest Expense | $ 70.6 M | |
| Net Interest Income | $ -72.77 M | |
| Income Before Tax | $ 307.5 M | |
| Tax Provision | $ 62.5 M | |
| Tax Rate | 20.32 % | |
| Net Income | $ 207.1 M | |
| Net Income From Continuing Operations | $ 245.0 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.27 | |
| EPS Actual | $ 0.27 | |
| EPS Difference | $ 0.00 | |
| EPS Surprise | -1.12 % | |
| Forward EPS | $ 0.38 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 17.5 B | |
| Intangible Assets | — | |
| Net Tangible Assets | $ 9.5 B | |
| Total Current Assets | $ 1.1 B | |
| Cash and Short-Term Investments | $ 451.0 M | |
| Cash | $ 451.0 M | |
| Net Receivables | $ 1.4 M | |
| Inventory | — | |
| Long-Term Investments | $ 171.0 M | |
| LIABILITIES | ||
| Accounts Payable | $ 93.9 M | |
| Short-Term Debt | $ 286.1 M | |
| Total Current Liabilities | $ 1.8 B | |
| Net Debt | $ 3.5 B | |
| Total Debt | $ 4.1 B | |
| Total Liabilities | $ 6.6 B | |
| EQUITY | ||
| Total Equity | $ 9.5 B | |
| Retained Earnings | $ 1.4 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 13.49 | |
| Shares Outstanding | 701.276 M | |
| Revenue Per-Share | $ 1.71 | |
| VALUATION | Market Capitalization | $ 9.6 B |
| Enterprise Value | $ 13.3 B | |
| Enterprise Multiple | 14.997 | |
| Enterprise Multiple QoQ | 24.396 % | |
| Enterprise Multiple YoY | 29.767 % | |
| Enterprise Multiple IPRWA | high: 75.659 mean: 30.404 median: 28.835 PR: 14.997 low: -7.608 |
|
| EV/R | 11.076 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.85 | |
| Asset To Liability | 2.655 | |
| Debt To Capital | 0.305 | |
| Debt To Assets | 0.237 | |
| Debt To Assets QoQ | -2.501 % | |
| Debt To Assets YoY | 6830.994 % | |
| Debt To Assets IPRWA | high: 0.609 PR: 0.237 mean: 0.236 median: 0.212 low: 0.002 |
|
| Debt To Equity | 0.438 | |
| Debt To Equity QoQ | -0.897 % | |
| Debt To Equity YoY | 6848.336 % | |
| Debt To Equity IPRWA | high: 1.807 mean: 0.726 median: 0.442 PR: 0.438 low: 0.002 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 1.012 | |
| Price To Book QoQ | 4.908 % | |
| Price To Book YoY | -17.692 % | |
| Price To Book IPRWA | high: 3.756 median: 1.768 mean: 1.554 PR: 1.012 low: 0.005 |
|
| Price To Earnings (P/E) | 50.401 | |
| Price To Earnings QoQ | 73.343 % | |
| Price To Earnings YoY | 19.384 % | |
| Price To Earnings IPRWA | high: 185.623 mean: 52.0 PR: 50.401 median: 48.382 low: -96.671 |
|
| PE/G Ratio | -1.305 | |
| Price To Sales (P/S) | 7.99 | |
| Price To Sales QoQ | 21.529 % | |
| Price To Sales YoY | -2.947 % | |
| Price To Sales IPRWA | high: 30.921 PR: 7.99 mean: 6.051 median: 5.84 low: 0.012 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 35.041 | |
| Forward PE/G | -0.907 | |
| Forward P/S | 24.843 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 2.524 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.069 | |
| Asset Turnover Ratio QoQ | -14.501 % | |
| Asset Turnover Ratio YoY | -15.243 % | |
| Asset Turnover Ratio IPRWA | high: 0.422 median: 0.165 mean: 0.154 PR: 0.069 low: 0.002 |
|
| Receivables Turnover | 1032.41 | |
| Receivables Turnover Ratio QoQ | 197.471 % | |
| Receivables Turnover Ratio YoY | 52.697 % | |
| Receivables Turnover Ratio IPRWA | PR: 1032.41 high: 5.091 mean: 1.935 median: 1.804 low: 0.322 |
|
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | 0.088 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | — | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | — | |
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | -1.761 | |
| CapEx To Revenue | -0.938 | |
| CapEx To Depreciation | — | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 13.2 B | |
| Net Invested Capital | $ 13.5 B | |
| Invested Capital | $ 13.5 B | |
| Net Tangible Assets | $ 9.5 B | |
| Net Working Capital | $ -679.88 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.247 | |
| Current Ratio | 0.628 | |
| Current Ratio QoQ | -26.595 % | |
| Current Ratio YoY | 26.892 % | |
| Current Ratio IPRWA | high: 5.453 median: 1.249 mean: 1.2 PR: 0.628 low: 0.329 |
|
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 4.688 | |
| Cost Of Debt | 1.356 % | |
| Interest Coverage Ratio | 5.355 | |
| Interest Coverage Ratio QoQ | -31.753 % | |
| Interest Coverage Ratio YoY | -18.219 % | |
| Interest Coverage Ratio IPRWA | high: 22.447 mean: 6.964 median: 6.558 PR: 5.355 low: -20.714 |
|
| Operating Cash Flow Ratio | 0.116 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 11.846 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 1.96 | |
| Dividend Payout Ratio | 0.51 | |
| Dividend Rate | $ 0.15 | |
| Dividend Yield | 0.011 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 2.448 % | |
| Revenue Growth | -12.994 % | |
| Revenue Growth QoQ | -309.547 % | |
| Revenue Growth YoY | -5339.516 % | |
| Revenue Growth IPRWA | high: 43.755 % median: -3.774 % mean: -4.996 % PR: -12.994 % low: -35.032 % |
|
| Earnings Growth | -38.636 % | |
| Earnings Growth QoQ | -174.696 % | |
| Earnings Growth YoY | 170.447 % | |
| Earnings Growth IPRWA | high: 122.222 % median: -21.739 % mean: -23.626 % PR: -38.636 % low: -180.0 % |
|
| MARGINS | ||
| Gross Margin | 37.363 % | |
| Gross Margin QoQ | -23.92 % | |
| Gross Margin YoY | -24.449 % | |
| Gross Margin IPRWA | high: 82.166 % PR: 37.363 % mean: 24.847 % median: 22.581 % low: -39.892 % |
|
| EBIT Margin | 31.573 % | |
| EBIT Margin QoQ | -22.753 % | |
| EBIT Margin YoY | -14.785 % | |
| EBIT Margin IPRWA | high: 95.08 % PR: 31.573 % mean: 17.163 % median: 13.652 % low: -39.515 % |
|
| Return On Sales (ROS) | 32.779 % | |
| Return On Sales QoQ | -19.803 % | |
| Return On Sales YoY | -11.53 % | |
| Return On Sales IPRWA | high: 90.781 % PR: 32.779 % mean: 13.866 % median: 11.212 % low: -39.515 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ -84.62 M | |
| Free Cash Flow Yield | -0.884 % | |
| Free Cash Flow Yield QoQ | -122.211 % | |
| Free Cash Flow Yield YoY | -135.502 % | |
| Free Cash Flow Yield IPRWA | high: 8.634 % median: 1.276 % mean: 1.269 % PR: -0.884 % low: -11.931 % |
|
| Free Cash Growth | -123.49 % | |
| Free Cash Growth QoQ | -1464.681 % | |
| Free Cash Growth YoY | -115.311 % | |
| Free Cash Growth IPRWA | high: 300.833 % mean: -15.91 % median: -24.008 % PR: -123.49 % low: -616.098 % |
|
| Free Cash To Net Income | -0.408 | |
| Cash Flow Margin | 17.752 % | |
| Cash Flow To Earnings | 1.026 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.03 | |
| Return On Assets (ROA) | 1.198 % | |
| Return On Assets QoQ | -38.216 % | |
| Return On Assets YoY | -22.309 % | |
| Return On Assets IPRWA | high: 4.797 % PR: 1.198 % mean: 1.197 % median: 0.982 % low: -3.385 % |
|
| Return On Capital Employed (ROCE) | 2.414 % | |
| Return On Equity (ROE) | 0.022 | |
| Return On Equity QoQ | -37.589 % | |
| Return On Equity YoY | -22.258 % | |
| Return On Equity IPRWA | high: 0.111 mean: 0.029 median: 0.027 PR: 0.022 low: -0.087 |
|
| DuPont ROE | 2.198 % | |
| Return On Invested Capital (ROIC) | 2.239 % | |
| Return On Invested Capital QoQ | -33.064 % | |
| Return On Invested Capital YoY | -99.97 % | |
| Return On Invested Capital IPRWA | high: 6.932 % mean: 2.635 % median: 2.373 % PR: 2.239 % low: -4.078 % |
|