# Sable Offshore Corp. (SOC)

> Source: Nexqual · https://nexqual.com/SOC · data as of 2026-10-15 20:00 UTC · cite as "Nexqual, Sable Offshore Corp. (SOC), nexqual.com/SOC" · informational, not investment advice.

**Price:** USD 3.32 (-1.19% on the day) · last close of Oct 15, 2026; US market closed, not a live price. Prev close 3.36 · day 3.3–3.46 · 52w 2.88–19.25 · market cap $637M · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $138M, net income -$434M (-313.4% margin), free cash flow -$559M (SEC filings).
- Analysts: Buy (mean 2.00 on a 1–5 scale) (7 analysts), mean target USD 9.33 (range 8–11).
- Total return with dividends: 1Y -74.7% vs S&P 500 +18.1%; 5Y -65.9% vs S&P 500 +85.1%.
- Next earnings: 2026-11-09, EPS estimate USD -0.34, revenue estimate $156M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|
| Revenue | — | — | $0K | $0K | $138M |
| Operating income | -$1.7M | -$6.2M | -$94.5M | -$408M | -$405M |
| Net income | $4.3M | -$2.6M | -$93.7M | -$410M | -$434M |
| EPS (diluted) | — | — | — | -$4.18 | — |
| Free cash flow | — | — | -$70.1M | -$769M | -$559M |
| Cash + short-term investments | $323K | $100K | $0K | $97.7M | — |
| Total debt | — | — | $0K | $922M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 4.6x · EV/Sales 11.4x · P/B 1.6x · FCF yield -87.72% · Earnings yield -68.10% · Net debt $947M · EV $1.58B

## Analysts
Consensus Buy (mean 2.00 on a 1–5 scale), 7 analysts; mean target USD 9.33 (low 8, high 11).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-05 | William Blair | Initiated | Outperform |  |
| 2026-10-02 | JP Morgan | Initiated | Overweight | $10 |
| 2026-09-30 | Roth Capital | Target lowered | Buy | $11 → $10 |
| 2026-07-06 | Jefferies | Target lowered | Buy | $24 → $11 |
| 2026-07-01 | Roth Capital | Target lowered | Buy | $22 → $15 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-16) | 5Y (from 2021-10-11) |
|---|---|---|
| Total return | -74.7% | -65.9% |
| S&P 500 (SPY) | +18.1% | +85.1% |
| Per year | -74.8% | -19.3% |
| Volatility (annualized) | 160.7% | 80.2% |
| Max drawdown | -83.3% (Mar 2026→Jun 2026) | -89.7% (May 2025→Oct 2026) |

## Peers (Oil & Gas Drilling)
PDS (Precision Drilling Corporation) USD 83.54 -2.22% · NBR (Nabors Industries Ltd.) USD 76.39 -4.98% · BORR (Borr Drilling Limited) USD 4.55 -5.21% · SDRL (Seadrill Limited) USD 46.29 -5.53% · HP (Helmerich & Payne, Inc.) USD 37.68 -3.58% · PTEN (Patterson-UTI Energy, Inc.) USD 11.31 -1.82%

## More
Full page: https://nexqual.com/SOC · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt