SandRidge Energy Inc (SD)
🔔 Watch stock
SandRidge Energy pays no income tax. Not a little — none: cash taxes were "de minimis" for three years running, and the first quarter of 2026 shows a tax line of exactly zero. The reason is $1.6 billion of loss carryforwards from the 2016 bankruptcy, and they drive the whole strategy. We read the annual report (10-K) for 2025 and the quarterly report (10-Q) as of March 31, 2026 to find out what that shield is really worth — and found a number the company puts on the record itself: of $463.2 million in deferred tax assets, $384.9 million is written off. Not investment advice — just a careful look at the expiry dates on the most valuable asset this company owns.
Appears in These Scanners
This stock currently matches 12 of our scanner strategies — each hit links to the scanner.
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. Scanners marked in red are red-flag signals (risk/short scanners) — appearing there is not a seal of approval. View all scanners
Basics
Performance
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
Quality & Screener
AI Rating
NeutralGeprüft am 16.07.2026 gegen die beiden jüngsten Geschäftsberichte (10-K 2025, eingereicht 05.03.2026; 10-K 2024, eingereicht 11.03.2025) und die vier jüngsten Quartalsberichte (10-Q zum 31.03.2026, 30.09.2025, 30.06.2025 und 31.03.2025): In sämtlichen sechs ausgewerteten SEC-Filings von SandRidge Energy findet sich kein einziger Treffer für „artificial intelligence“, „machine learning“, „AI“ oder „algorithm“ — nicht als Umsatzquelle, nicht als operativer Einsatz, nicht als Risikofaktor in Item 1A. Dokumentierter Negativ-Befund (Volltext-Prüfung aller sechs Filings, jeweils 0 Treffer). SandRidge ist ein reiner Öl- und Gas-Förderer im Mid-Continent (Oklahoma/Kansas) mit 102 Vollzeitkräften, 1.446 Brutto-Förderbohrungen und genau einem aktiven Bohrturm (Stand 31.12.2025); die Strategie im 10-K 2025 dreht sich ausschließlich um Cherokee-Play-Entwicklung, Kapitaldisziplin und die Nutzung der Verlustvorträge („while utilizing our net operating loss carry forwards to maximize cash flow“). Auch das in der Branche naheliegende KI-nahe Endmarkt-Narrativ (Erdgas für Rechenzentren) kommt in den Filings nicht vor. Nach dem Kriterienkatalog damit eindeutig „neutral“.
View the full file — quotes, sources, reviewed filings
Filings Reviewed: 10-Q 2026-05-07 · 10-K 2026-03-05 · 10-Q 2025-11-06 · 10-Q 2025-08-07 · 10-Q 2025-05-08 · 10-K 2025-03-11
Rated on July 16, 2026 · How the Rating Is Built
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Quarterly Figures
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | 0.47 | 880.10 | 39 | 14.90 | 45.10 | 26 | 13 |
| 2025: Q1 | 0.35 | 17.50 | 43 | 40.70 | 30.60 | 20 | 14 |
| 2025: Q2 | 0.53 | 125.30 | 35 | 32.90 | 56.60 | 23 | 5 |
| 2025: Q3 | 0.43 | -36.80 | 40 | 32.50 | 40.10 | 25 | 6 |
| 2025: Q4 | 0.59 | 24.00 | 39 | 1.10 | 54.90 | 32 | 14 |
| 2026: Q1 | 0.50 | 43.40 | 50 | 16.80 | 37.50 | 20 | -4 |
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Assessment: Opportunities & Risks
No debt at all, $102.7 million of cash (03/31/2026), total liabilities of just $126.2 million against $652.1 million of assets; three profitable years in a row ($60.9 / $63.0 / $70.2 million in 2023–2025) and operating cash flow of $100.1 million in 2025. Piotroski 9 of 9, Altman-Z 6.96 (data as of July 8, 2026); production costs down to $5.35 per Boe from $6.80 in 2023.
Real but heavily discounted: $1.6 billion of federal NOLs make the profits tax-free (cash taxes 2023–2025 "de minimis", tax line of $0 in Q1 2026), and on the booked reserves the standardized measure equals PV-10 exactly. But approximately $0.7 billion expires 2028–2037, the company writes off $384.9 million of $463.2 million in deferred tax assets itself (83 percent), and at the 2025 pretax rate of $64.7 million consuming the full amount would take roughly 25 years.
Production rose 11.8 percent to 18.5 MBoe/d in 2025 and held at 18.6 MBoe/d in Q1 2026; proved reserves grew 9.5 percent to 69.1 MMBoe and PV-10 from $362.7 to $439.6 million — a producer replacing more than it pumps. The growth was bought, though: the $121.9 million Cherokee Play acquisition of August 2024, and a reserves-to-production ratio of 10.2 years makes further drilling mandatory rather than optional.
The dividend was cut roughly 80 percent, from $81.5 million (2023) via $72.3 million (2024) to $15.9 million / $0.46 per share (2025), to fund drilling and acquisitions; free cash flow narrowed to $32.5 million against a 2026 capital budget of $76.0–97.0 million. The $75.0 million buyback is 91 percent unused after two and a half years, and the filing promises nothing: "There is no guarantee of future dividends or stock repurchases."
All production and reserves sit in the Mid-Continent, worked by a single rig ("All of our production and reserves are located in the Mid-Continent region", 10-K 2025, Item 1A). Revenue is a price bet: with more barrels produced in 2025 than in 2022, revenue was 38 percent lower ($156.4 vs. $254.3 million); nearly half of volume is natural gas, realized at $2.10 per Mcf in 2025, and hedging is modest.
Cheap on every ratio — P/E about 6.7, price-to-book about 0.96, EV of some $403 million or about 3.5 times EBITDA — and roughly at the sum of PV-10 ($439.6 million) plus cash. Against that: a stock flat year to date in stage 1 with a relative-strength rating of 43, and an "analyst consensus" consisting of exactly one rating (target $15). Carl Icahn holds about 13.4 percent; Brett Icahn joined the board on August 1, 2025 (data as of July 8, 2026).
SandRidge Energy is a rarity: a debt-free, genuinely profitable small-cap oil and gas producer that pays no income tax at all, scores a perfect 9 of 9 on the standard test of book quality, and in 2025 grew both production (+11.8 percent) and proved reserves (+9.5 percent). The market still pays only about book value for it — and the filings show why the discount is not irrational: approximately $0.7 billion of the $1.6 billion tax shield expires from 2028, the company itself writes off 83 percent of the resulting deferred tax assets, everything sits in one basin on one rig with 10.2 years of reserves, and the dividend was cut 80 percent to fund the drilling that keeps the whole thing running. Not investment advice.
- SD reached our research list via the Reddit hype scanner (ApeWisdom, 2 mentions in 24 hours, as of July 16, 2026) — the silence is the point: this is a profitable, debt-free producer nobody is shouting about. The 12 hits in our in-house stock scanner were recomputed on July 16, 2026 and rotate daily; the underlying fundamental metrics carry the July 8, 2026 data cut-off.
- Identity check: SandRidge files under CIK 0001349436 (formerly Riata Energy, Inc.) and has done so continuously; the Form 15-12B of June 23, 2017 deregistered a class of securities after the reorganization and did not create a successor issuer. Filings are 10-K/10-Q — SandRidge is a U.S. domestic filer, not a foreign private issuer.
- PV-10 and the standardized measure are computed at the SEC-prescribed 12-month average prices held constant for the life of the properties; they are a standardized yardstick, not a market appraisal, and exclude hedging.
- Price and valuation figures are dated to July 8, 2026 (about $13.60, market value roughly $506 million); analyses are evergreen, daily prices are not a buy argument.
About the Company
SandRidge Energy, Inc. beschäftigt sich mit dem Erwerb, der Erschließung und der Förderung von Öl und Erdgas in der Mid-Continent-Region der USA.
| Employees | 102 |
|---|---|
| Headquarters | Oklahoma City, OK |
| Website | sandridgeenergy.com |
| IPO Date | 6. Nov 2007 |
| Next Earnings | 5. Aug 2026 |
Management
| Name | Title | Birth Year |
|---|---|---|
| Grayson R. Pranin Jr. | President, CEO & Director | 1980 |
| Jonathan Frates | Executive VP & CFO | 1983 |
| Dean Parrish | Executive VP & COO | 1988 |
| Brandon L. Brown Sr. | Senior VP & Chief Accounting Officer | 1979 |
| Scott Prestridge | SVP of Finance & Strategy | – |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Chart
Interactive price chart (TradingView).
Data as of: July 20, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.