Sable Offshore Corp.
NYSE: SOC · ENERGY · OIL & GAS DRILLING
Updated 2026-06-18
Sable Offshore Corp. (SOC) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue | — | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Revenue growth (YoY) | — | — | — | — | — | — |
| Cost of revenue | — | — | — | $21.02M | $13.43M | $14.51M |
| Gross profit | — | — | — | $-21.02M | $-13.43M | $-14.51M |
| Gross margin | — | — | — | — | — | — |
| R&D | — | — | — | — | — | — |
| SG&A | — | $1.68M | $12.81M | $12.76M | $12.76M | $176.20M |
| Operating income | $-6628.00 | $-1.68M | $-6.15M | $-94.47M | $-338.41M | $-408.28M |
| Operating margin | — | — | — | — | — | — |
| EBITDA | $-1660.00 | $4.27M | $-1.83M | $-72.66M | $-548.37M | $-297.36M |
| EBITDA margin | — | — | — | — | — | — |
| EBIT | — | $-1.68M | $-6.16M | $-93.67M | $-561.80M | $-310.25M |
| Interest expense | — | — | — | $0.00 | $67.31M | $88.25M |
| Income tax | — | — | — | — | — | — |
| Effective tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net income | $-1657.00 | $4.27M | $-2.59M | $-93.67M | $-629.07M | $-410.16M |
| Net income growth (YoY) | — | +257980.4% | -160.6% | -3515.4% | -571.6% | +34.8% |
| Profit margin | — | — | — | — | — | — |
Frequently asked questions
What is Sable Offshore Corp.'s revenue?
Sable Offshore Corp.'s trailing twelve-month revenue is $1.27M. Revenue is the top line the whole model builds on, and at this scale the question shifts from how fast it grows to whether margins hold as it compounds.
How much free cash flow does SOC generate?
SOC produced $-769.33M in free cash flow in its most recent fiscal year. Free cash flow is what is left after running and reinvesting in the business, and it is the cash that actually funds buybacks, dividends, and a stronger balance sheet.
Is SOC's balance sheet healthy?
SOC holds $97.68M in cash and equivalents against $0.00 in long-term debt, on $534.30M of shareholder equity. Cash on hand exceeds long-term debt, so the balance sheet adds little financial risk to the thesis.