Mammoth Energy Services Inc. Common Stock (TUSK)

FairStock Score: 56/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

As a value investor, I start with the business and the numbers. Mammoth Energy Services is a small energy-services firm—hydraulic fracturing, sand, water transfer, and infrastructure work—with only 115 employees. That scale can be flexible, but it offers little durable competitive advantage; customers can cut spending quickly, and the company has no evident pricing power. The filed record is erratic. Revenue fell from $309.5M in FY2023 to $45.6M in FY2024 and $44.3M in FY2025. Net income went from -$3.2M in FY2023 to -$207.3M in FY2024, then $4.6M in FY2025. In fiscal Q1 2026, the quarter ended 2026-03-31, net income was $5.2M, but in fiscal Q2 2026, ended 2026-06-30, it swung to -$760,000 on $26.1M of revenue. That is not a steady earnings stream. The balance sheet has low debt—FairStock reports D/E 0.02—but financial health scores are poor: Piotroski 3/9 and Altman Z 0.16. Trailing free cash flow is -$117.7M, a -87.3% FCF yield, so the business is consuming cash at current scale. At the 2026-10-13 close of $2.80, FairStock shows P/B 0.51 and negative P/E -6.22; EV/EBITDA is 4.59, not demanding if earnings normalize. FairStock labels it a TURNAROUND because it returned to profit after a loss within three years. The price may be cheap against book assets, but the assets and cash flows need proof. I see a speculative turnaround, not a high-quality compounder.

In plain English: Mammoth Energy Services provides services for oil and gas and power infrastructure companies, such as fracking support, sand, water hauling, and electrical work. The business looks weak and uneven: it lost a huge amount in fiscal 2024, made a small profit in fiscal 2025, then had a tiny profit in fiscal Q1 2026 followed by a small loss in fiscal Q2 2026. At $2.80, the stock looks cheap compared with its accounting value, but the weak cash flow makes that cheapness uncertain.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer