Start here if you're new
what it is
Mammoth does power-grid repair and oilfield support work across North America, from utility infrastructure to sand hauling and drilling services.
how it gets paid
Last year Mammoth Energy made $44M in revenue.
why growth slowed
FY 2025 revenue from continuing operations was ~$44.3M, down slightly vs. ~$45.6M in 2024— still a tiny base.
what just happened
Q3 2025 continuing-ops revenue was ~$14.8M (down YoY vs. ~$17.1M in Q3 2024), with a ~$0.25/share loss— the turnaround is still noisy.
At a glance
C++ balance sheet — some cracks in the foundation
10/100 earnings predictability — expect surprises
1.0% return on capital — nothing to write home about
-$4.31 fy2024 eps est
$188M fy2024 rev est
xvary composite: 40/100 — below average
What they do
Mammoth does power-grid repair and oilfield support work across North America, from utility infrastructure to sand hauling and drilling services.
Mammoth's edge is breadth. One company covers utility infrastructure work and oilfield services across North America, with 639 employees supporting both markets. If one lane freezes, you still have another lane to sell into, which matters more when annual revenue is only about $44 million.
How they make money
$44M
annual revenue · revenue declined -2.9% last year
total revenue
$44M
2.9%
The products that matter
utility construction and field services
Infrastructure Services
$4.8M · ~32% of Q3 2025 continuing-ops revenue
infrastructure services were ~$4.8M in Q3 2025 (up YoY)— fiber/utility work is one of the cleaner demand levers in the mix.
core segment
frac sand sales
Sand
$2.7M · ~18% of Q3 2025 continuing-ops revenue
sand proppant revenue was ~$2.7M in Q3 2025— still meaningful, but volumes and pricing can swing hard quarter to quarter.
shrinking fast
drilling rig rentals
Drilling
$2.3M · ~16% of Q3 2025 continuing-ops revenue
drilling was ~$2.3M in Q3 2025— small vs. the whole company, but it can move fast when utilization changes.
1% of sales
Key numbers
-129.7%
operating margin
Operating margin → what is left after running the business → so what: Mammoth lost more on operations than it brought in from sales.
$0
revolver drawn
Recent releases emphasize no outstanding borrowings on the revolver— liquidity is mostly cash, securities, and availability, not term debt.
5/100
price stability
Price stability → how calm the stock usually trades → so what: this is a very jumpy stock, not a sleepy utility name.
$44M
ttm revenue
Trailing revenue → sales over the last 12 months → so what: the whole company is running on a very small revenue base.
Financial health
C++
strength
- balance sheet grade C++ — below average — limited financial resources
- risk rank 3 — safer than 50% of stocks
- price stability 5 / 100
- long-term debt no drawn revolver debt (see latest 10-Q)
C++ — below average. watch for debt servicing and cash burn.
Total return vs. market
Return history isn't available for TUSK right now.
source: institutional data · return history unavailable
What just happened
missed estimates
Q3 2025 continuing-ops revenue was ~$14.8M, down YoY vs. ~$17.1M, with a diluted loss of about $0.25 per share.
FY 2025 revenue from continuing operations was ~$44.3M with a ~$63.8M net loss from continuing operations— losses still dwarf sales. Liquidity was strong with no revolver borrowings reported in recent quarters, but execution risk remains.
$14.8M
Q3 2025 revenue
-$0.25
diluted EPS
~$44.3M
FY 2025 revenue
the number that mattered
FY 2025 still paired ~$44.3M of sales with a ~$63.8M net loss— until that gap closes, the story is liquidity and self-help, not “cheap on sales.”
source: company earnings report, 2026
Get this snapshot in your inbox
This page, delivered free — plus weekly updates when the numbers change. plain english, no spam.
weekly updates
earnings alerts
plain english
no spam
What could go wrong
the top risk is burning $63.8M while generating only $44.3M of revenue.
high
cash burn outlasting the turnaround
The company lost $63.8M in 2025 on $44.3M of revenue. When losses run at 144% of sales, even a low-debt balance sheet stops feeling like much protection.
if that pace does not improve, new capital becomes a business need, not a choice
high
2026 growth target missing early
Management set the bar at 50%+ revenue growth and positive EBITDA in 2026. If the first few quarters do not show that trajectory, the whole valuation case shrinks back to distressed-asset math.
the stock's discount multiple can stay discounted for a long time
med
segment erosion in sand and drilling
Sand revenue fell 67% and Drilling fell 80% from a year ago. That is not normal noise. It is evidence that parts of the portfolio are shrinking faster than management can replace them.
those two lines are down to $2.2M combined, leaving less room for operational misses elsewhere
med
audit and control scrutiny
The auditor cited a risk of not detecting a material misstatement. That does not prove a problem, but it is the kind of line you do not want attached to a tiny company already asking investors for patience.
trust gets harder to rebuild when operating results are already weak
A $63.8M loss on a $44.3M revenue base is the whole risk picture in one sentence. The 0.5x sales multiple is not a hidden bargain unless revenue grows and losses compress at the same time.
source: institutional data · regulatory filings · risk analysis
Pay attention to
trend
does 50%+ growth show up fast
Management promised more than 50% revenue growth in 2026. If you do not see that build within the next few quarters, the thesis weakens in public.
metric
losses versus revenue
2025 produced a $63.8M net loss on $44.3M of revenue. You want that gap closing hard, not drifting a little.
calendar
next EBITDA read
Positive EBITDA is part of the 2026 promise. The next earnings release is the cleanest check on whether that target is marketing or momentum.
risk
auditor language and filing quality
When the numbers are weak, clean reporting matters more. Any repeat control concerns will hit trust before they hit revenue.
Analyst rankings
earnings predictability
10 / 100
in human-speak, analysts do not trust the quarter-to-quarter earnings pattern here
street target
$4.28
that is about 110% above the $2.04 share price. the catch: price targets on tiny turnarounds are opinions first and anchors second
source: institutional data
Institutional activity
institutional ownership data for TUSK is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$2
current price
n/a
target midpoint · n/a from current
Want the deeper analysis?
The full deep dive: dcf model, scenario analysis, competitive moat breakdown, and quarterly tracking — everything on this page, taken further.
see plans from $5/moThe deep dive