Magnolia Oil & Gas Corp (MGY) financial statements: income statement, balance sheet and cash flow
Magnolia Oil & Gas Corp's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Magnolia Oil & Gas Corp reported revenue of $1.3B (-0.3% year on year) and net income of $337.3M (-15.1% year on year).
Income statement
Magnolia Oil & Gas Corp income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Total revenues
$1.3B
$1.3B
$1.2B
$1.7B
Lease operating expenses
$186.6M
$180.9M
$155.5M
$131.5M
Gathering, transportation, and processing
$67.1M
$39.8M
$44.3M
$64.8M
Taxes other than income
$76.5M
$71.9M
$65.6M
$94.0M
Exploration expenses
$962.0K
$1.4M
$5.4M
$11.6M
Asset retirement obligations accretion
$6.8M
$6.7M
$4.0M
$3.2M
Depreciation, depletion and amortization
$437.8M
$414.5M
$324.8M
$243.2M
Impairment of oil and natural gas properties
$0
$0
$15.7M
$0
General and administrative expenses
$97.0M
$88.7M
$77.1M
$72.4M
Total operating expenses
$872.7M
$803.9M
$692.5M
$620.7M
OPERATING INCOME
$439.2M
$512.0M
$534.5M
$1.1B
Interest expense, net
($21.6M)
($14.4M)
($33.0K)
($23.4M)
Loss on extinguishment of debt
$0
($8.8M)
—
—
Other income (expense), net
($153.0K)
$4.3M
$15.4M
$6.5M
Total other income (expense), net
($21.8M)
($18.8M)
$15.3M
($16.9M)
INCOME BEFORE INCOME TAXES
$417.4M
$493.1M
$549.8M
$1.1B
Income tax expense
$80.1M
$95.8M
$107.2M
$6.6M
NET INCOME
$337.3M
$397.3M
$442.6M
$1.1B
LESS: Net income attributable to noncontrolling interest
$12.0M
$31.3M
$54.3M
$156.4M
Basic (in dollars per share)
$1.73
$1.94
$2.04
$4.73
Diluted (in dollars per share)
$1.73
$1.94
$2.04
$4.71
Basic (in shares)
185.6M
186.5M
188.2M
187.4M
Diluted (in shares)
185.6M
186.5M
188.4M
187.9M
NET INCOME ATTRIBUTABLE TO CLASS A COMMON STOCK
$325.3M
$366.0M
$388.3M
$893.8M
Postretirement benefits
($1.6M)
—
—
—
COMPREHENSIVE INCOME ATTRIBUTABLE TO CLASS A COMMON STOCK
$323.6M
—
—
—
Magnolia Oil & Gas Corp income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Total revenues
$478.8M
$358.5M
$324.9M
$319.0M
Lease operating expenses
$48.4M
$47.8M
$48.6M
$43.6M
Gathering, transportation and processing
$17.2M
$18.2M
$17.7M
$16.5M
Taxes other than income
$22.8M
$16.4M
$20.4M
$18.8M
Exploration expenses
$213.0K
$1.7M
$131.0K
$363.0K
Asset retirement obligations accretion
$1.9M
$1.9M
$1.8M
$1.6M
Depreciation, depletion and amortization
$116.5M
$113.4M
$110.6M
$107.1M
General and administrative expenses
$29.2M
$31.4M
$24.2M
$23.3M
Transaction related costs
$3.2M
—
—
—
Total operating expenses
$239.3M
$230.7M
$223.5M
$211.2M
OPERATING INCOME
$239.5M
$127.8M
$101.5M
$107.8M
Interest expense, net
($6.7M)
($6.0M)
($5.4M)
($5.6M)
Other income (expense), net
($379.0K)
($36.0K)
($661.0K)
($244.0K)
Total other expense, net
($7.1M)
($6.0M)
($6.0M)
($5.8M)
INCOME BEFORE INCOME TAXES
$232.4M
$121.7M
$95.4M
$102.0M
Income tax expense
$50.6M
$20.9M
$17.2M
$20.9M
NET INCOME
$181.8M
$100.8M
$78.2M
$81.0M
LESS: Net income attributable to noncontrolling interest
$0
$1.0M
$2.8M
$2.9M
Basic (in dollars per share)
$0.97
$0.54
$0.40
$0.41
Diluted (in dollars per share)
$0.97
$0.54
$0.40
$0.41
Basic (in shares)
184.6M
183.3M
184.7M
186.5M
Diluted (in shares)
184.6M
183.3M
184.7M
186.5M
NET INCOME ATTRIBUTABLE TO CLASS A COMMON STOCK
$181.8M
$99.8M
$75.5M
$78.1M
Postretirement benefits
$32.0K
$23.0K
—
—
COMPREHENSIVE INCOME ATTRIBUTABLE TO CLASS A COMMON STOCK
$181.8M
$99.8M
—
—
Balance sheet
Magnolia Oil & Gas Corp balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Cash and cash equivalents
$266.8M
$260.0M
$401.1M
$675.4M
Trade receivables
$116.5M
$147.9M
$189.7M
$170.8M
Joint interest receivables
$34.0M
—
—
—
Income tax receivable
$24.3M
—
—
—
Other current assets
$877.0K
$599.0K
$435.0K
$1.1M
Total current assets
$442.4M
$410.8M
$591.3M
$850.7M
Oil and natural gas properties
$5.0B
$4.4B
$3.7B
$2.9B
Other
$20.6M
$18.7M
$9.8M
$9.0M
Accumulated depreciation, depletion and amortization
($2.6B)
($2.1B)
($1.7B)
($1.4B)
Total property, plant and equipment, net
$2.4B
$2.3B
$2.1B
$1.5B
Deferred financing costs, net
$5.6M
$7.0M
$3.8M
$5.6M
Deferred tax assets
$2.7M
$77.6M
$90.4M
$162.8M
Other long-term assets
$28.3M
$19.3M
$18.7M
$20.4M
Total other assets
$36.5M
$104.0M
$112.9M
$188.8M
TOTAL ASSETS
$2.9B
$2.8B
$2.8B
$2.6B
Accounts payable
$177.6M
$181.1M
$193.2M
$202.8M
Other current liabilities (Note 5)
$110.5M
$109.2M
$121.7M
$137.4M
Total current liabilities
$288.0M
$290.3M
$314.9M
$340.3M
Long-term debt, net
$393.3M
$392.5M
$392.8M
$390.4M
Asset retirement obligations, net of current
$186.0M
$161.3M
$148.5M
$95.1M
Other long-term liabilities
$36.6M
$9.4M
$17.4M
$6.6M
Total long-term liabilities
$615.9M
$563.2M
$558.7M
$492.1M
Common stock
$24.0K
$24.0K
$23.0K
$23.0K
Additional paid-in capital
$1.9B
$1.9B
$1.7B
$1.7B
Treasury Stock, at cost, 47,678 shares and 38,808 shares in 2025 and 2024, respectively
-928.7M
-721.3M
-538.4M
-329.5M
Retained earnings
$966.7M
$754.6M
$486.2M
$185.7M
Accumulated other comprehensive loss
($1.6M)
—
—
—
Noncontrolling interest
$59.2M
$53.7M
$191.0M
$164.1M
Total equity
$2.0B
$2.0B
$1.9B
$1.7B
TOTAL LIABILITIES AND EQUITY
$2.9B
$2.8B
$2.8B
$2.6B
Magnolia Oil & Gas Corp balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Cash and cash equivalents
$295.9M
$124.4M
$280.5M
$251.8M
Trade receivables
$159.5M
$160.8M
$187.5M
$160.3M
Joint interest receivables
$29.7M
$32.1M
—
—
Income tax receivable
$0
$1.3M
—
—
Other current assets
$3.4M
$1.1M
$1.5M
$2.7M
Total current assets
$488.6M
$319.7M
$469.5M
$416.7M
Oil and natural gas properties
$5.4B
$5.2B
$4.8B
$4.7B
Other
$23.1M
$21.3M
$20.5M
$20.5M
Accumulated depreciation, depletion and amortization
($2.8B)
($2.7B)
($2.4B)
($2.3B)
Total property, plant and equipment, net
$2.6B
$2.6B
$2.4B
$2.4B
Other long-term assets
$52.8M
$38.3M
$30.0M
$32.8M
TOTAL ASSETS
$3.1B
$2.9B
$2.9B
$2.9B
Accounts payable
$173.1M
$156.5M
$181.2M
$165.5M
Other current liabilities (Note 6)
$135.5M
$134.0M
$137.7M
$123.1M
Total current liabilities
$308.6M
$290.5M
$318.9M
$288.6M
Long-term debt, net
$393.6M
$393.4M
$393.1M
$392.9M
Asset retirement obligations, net of current
$189.3M
$187.5M
$184.3M
$164.2M
Deferred tax liabilities
$65.1M
$18.5M
—
—
Other long-term liabilities
$37.1M
$18.6M
$20.8M
$16.6M
Total long-term liabilities
$685.2M
$618.1M
$598.2M
$573.7M
Common stock
$24.0K
$24.0K
$24.0K
$24.0K
Additional paid-in capital
$2.0B
$2.0B
$1.9B
$1.9B
Treasury Stock, at cost, 50,638 shares and 47,678 shares in 2026 and 2025, respectively
-1.0B
-960.7M
-874.7M
-822.8M
Retained earnings
$1.2B
$1.0B
$925.7M
$878.4M
Accumulated other comprehensive loss
($1.6M)
($1.6M)
—
—
Noncontrolling interest
$0
$0
$58.2M
$56.8M
Total equity
$2.1B
$2.0B
$2.0B
$2.0B
TOTAL LIABILITIES AND EQUITY
$3.1B
$2.9B
$2.9B
$2.9B
Cash flow statement
Magnolia Oil & Gas Corp cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
NET INCOME
$337.3M
$397.3M
$442.6M
$1.1B
Depreciation, depletion and amortization
$437.8M
$414.5M
$324.8M
$243.2M
Impairment of oil and natural gas properties
$0
$0
$15.7M
$0
Asset retirement obligations accretion
$6.8M
$6.7M
$4.0M
$3.2M
Amortization of deferred financing costs
$2.2M
$4.5M
$4.3M
$5.9M
Gain on sale of assets
$0
$0
($3.9M)
—
Deferred income tax expense
$96.8M
$70.3M
$75.4M
($65.7M)
Gain on revaluation of contingent consideration
($4.5M)
($4.3M)
($7.6M)
—
Stock based compensation
$27.3M
$18.7M
$16.2M
$13.3M
Loss on extinguishment of debt
$0
$8.8M
—
—
Other
$2.9M
$2.9M
$0
$0
Accounts receivable
($3.9M)
$36.7M
($19.4M)
($21.0M)
Accounts payable
($5.3M)
($18.4M)
($9.2M)
$74.9M
Accrued liabilities
$10.7M
($9.6M)
$3.4M
$8.6M
Other assets and liabilities, net
($29.3M)
($4.9M)
$5.9M
($13.6M)
Net cash provided by operating activities
$878.6M
$920.9M
$855.8M
$1.3B
Acquisitions
($66.6M)
($165.4M)
($355.5M)
($90.1M)
Additions to oil and natural gas properties
($469.5M)
($486.7M)
($424.9M)
($465.1M)
Changes in working capital associated with additions to oil and natural gas properties
($10.4M)
($2.4M)
($33.8M)
$38.0M
Other investing
$5.7M
($584.0K)
($718.0K)
($1.6M)
Net cash used in investing activities
($540.7M)
($655.1M)
($814.9M)
($518.9M)
Proceeds from issuance of long-term debt
$0
$400.0M
—
—
Redemption of long-term debt
$0
($404.0M)
—
—
Common stock repurchase and cancellations
($205.5M)
($273.0M)
($205.3M)
($352.2M)
Dividends paid
($113.1M)
($97.6M)
($88.1M)
($75.2M)
Distributions to noncontrolling interest owners
($3.5M)
($9.1M)
($14.1M)
($29.4M)
Cash paid for debt issuance costs
$0
($12.7M)
$0
($5.5M)
Other financing activities
($9.1M)
($10.3M)
($7.7M)
($7.1M)
Net cash used in financing activities
($331.2M)
($406.8M)
($315.2M)
($469.3M)
NET CHANGE IN CASH AND CASH EQUIVALENTS
$6.7M
($141.1M)
($274.3M)
$308.5M
Cash and cash equivalents – Beginning of period
$260.0M
$401.1M
$675.4M
$367.0M
Cash and cash equivalents – End of period
$266.8M
$260.0M
$401.1M
$675.4M
Magnolia Oil & Gas Corp cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Jun 30, 2025 · YTD
NET INCOME
$282.6M
$100.8M
$265.9M
$187.7M
Depreciation, depletion and amortization
$229.9M
$113.4M
$323.6M
$212.9M
Asset retirement obligations accretion
$3.7M
$1.9M
$5.0M
$3.1M
Amortization of deferred financing costs
$1.1M
$546.0K
$1.6M
$1.1M
Deferred income tax expense
$65.1M
$16.9M
$78.7M
$29.2M
Gain on revaluation of contingent consideration
$0
$0
($4.5M)
($4.0M)
Stock based compensation
$21.9M
$12.2M
$21.2M
$13.9M
Other
$4.3M
$843.0K
$2.5M
$2.8M
Accounts receivable
($38.7M)
($42.3M)
($39.6M)
($12.4M)
Accounts payable
($4.6M)
($21.1M)
$131.0K
($15.5M)
Accrued liabilities
($4.2M)
($6.6M)
$19.0M
$13.2M
Other assets and liabilities, net
$20.7M
$21.1M
($5.5M)
($9.2M)
Net cash provided by operating activities
$581.6M
$197.6M
$670.2M
$423.2M
Acquisitions
($156.2M)
($155.0M)
($64.4M)
($39.7M)
Additions to oil and natural gas properties
($253.6M)
($128.4M)
($350.5M)
($231.5M)
Changes in working capital associated with additions to oil and natural gas properties
$25.2M
$27.4M
$8.4M
$2.8M
Other investing
$6.6M
$8.4M
$5.8M
$5.8M
Net cash used in investing activities
($378.0M)
($247.6M)
($400.6M)
($262.6M)
Class A and B Common Stock purchases and cancellations