olivLaw · US equity research
Mammoth Energy Services, Inc. TUSK
Oil & Gas Field Services, NEC · SIC 1389 · Vertical: Oil & Gas Field Services, NEC (SIC 1389)
Mammoth Energy Services is an integrated services provider serving the oil and natural gas, aviation and utility infrastructure industries, and its revenue rose 110% in the second quarter of 2026 to 26.1 million USD. The company raised its full-year outlook twice this year, now guiding to revenue growth above 90%.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Mammoth Energy Services, Inc. (TUSK) stock was 3.02 USD (−4.13% on the day), with market capitalisation 145.3 m USD, P/E 10.3 on diluted EPS of 0.29 USD over the last 12 months, dividend yield 0.00%, beta 0.84, 52-week range 1.73–3.84 USD. Latest reported quarter (Q3 2026): revenue of 21.3 m USD (+96.7% YoY), net income of 126.0 k USD, diluted EPS 0.01 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 56.5
- strong (55–70)
- Bollinger (20, 2)
- 2.52 – 3.14
- in the upper half of the band · %B 0.81 · band width 21.7%
- SMA 50 / 200
- 2.96 / 2.78
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 0.04 / -0.01
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +6.3% | −1.1% | +7.4 pp | — |
| 3 months | +6.0% | −0.5% | +6.4 pp | — |
| 6 months | +20.8% | +4.4% | +16.4 pp | — |
| Year to date | +63.2% | +12.3% | +50.9 pp | — |
| 1 year | +47.3% | +13.5% | +33.8 pp | +0.4% |
| 3 years | −33.6% | +76.4% | −110.0 pp | −29.5% |
| 5 years | 0.0% | +63.7% | −63.7 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | -2.8 m | 11.6 m | 12.4 m | 10.9 m | 9.5 m | 22.0 m | 26.1 m | 21.3 m |
| SG&A | 5.6 m | 4.1 m | 5.0 m | 4.7 m | 5.7 m | 3.6 m | 4.2 m | 4.1 m |
| Operating income | -9.4 m | -1.2 m | -37.1 m | -9.4 m | -9.7 m | -869.0 k | 2.6 m | -421.0 k |
| Interest expense | 4.8 m | — | — | — | — | — | — | — |
| Pre-tax income | -10.1 m | -1.4 m | -37.5 m | -10.5 m | -10.3 m | 6.1 m | 655.0 k | 430.0 k |
| Income tax | 1.4 m | 838.0 k | -934.0 k | 2.1 m | 2.0 m | 1.5 m | 1.9 m | 136.0 k |
| Net income | -15.5 m | -537.0 k | 8.8 m | -12.6 m | 8.9 m | 5.2 m | -760.0 k | 126.0 k |
| Diluted EPS | -0.32 ≈ | -0.01 | 0.18 | -0.26 | 0.18 ≈ | 0.11 | -0.01 | 0.01 |
| Operating cash flow | 141.4 m | 2.7 m | -12.5 m ≈ | 730.0 k ≈ | -9.5 m | -3.0 m | -7.0 m ≈ | 91.0 k ≈ |
| Capex | 10.9 m | 462.0 k | 26.9 m ≈ | 17.3 m ≈ | 25.9 m | 11.7 m | 44.0 m ≈ | 41.8 m ≈ |
| Share repurchases | — | 0 | 0 ≈ | 0 ≈ | — | 404.0 k | 130.0 k ≈ | 0 ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 53 percentile of its own 15-quarter history (min 2.0, median 9.7, max 135.1; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | ⚠ 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1.7 bn | 625.0 m | 313.1 m | 229.0 m | 362.1 m | 309.5 m | 45.6 m | 44.3 m |
| Revenue YoY | +144.4% | −63.0% | −49.9% | −26.9% | +58.1% | −14.5% | — | −2.9% |
| Net income | 236.0 m | -79.0 m | -107.6 m | -101.4 m | -619.0 k | -3.2 m | -207.3 m | 4.6 m |
| Net income YoY | +300.2% | −133.5% | unavailable | unavailable | unavailable | unavailable | — | unavailable |
| Diluted EPS | 5.24 | -1.76 | -2.36 | -2.18 | -0.01 | -0.07 | -4.31 | 0.10 |
| Diluted EPS YoY | +269.0% | −133.6% | unavailable | unavailable | unavailable | unavailable | — | unavailable |
| net % | 14.0% | -12.6% | -34.4% | -44.3% | -0.2% | -1.0% | -454.7% | 10.4% |
| Free cash flow | unavailable | unavailable | unavailable | -24.7 m | 2.5 m | 12.0 m | 179.5 m | -89.1 m |
The series breaks before 2024: earlier years come from the original reports of the issuer of that time, later years from a subsequent filing that restated the perimeter (a separation, discontinued operations). The year-on-year change across the break is not shown.
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 102.0 m USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 258.3 m USD
- Total assets
- 334.9 m USD
- Debt / equity
- unavailable
- Current ratio
- 2.53x
- ROE
- 1.8%
- ROA
- 1.3%
- FCF margin
- -201.2%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 313.1 m | 229.0 m | 362.1 m | 309.5 m | 45.6 m | 44.3 m | SEC (XBRL)· 06 Mar 2026verified |
| Cost of revenue | 232.0 m | 198.3 m | 278.6 m | 247.8 m | — | — | SEC (XBRL)· 01 Mar 2024verified |
| Gross profit | 81.1 m ≈ | 30.6 m ≈ | 83.5 m ≈ | 61.7 m ≈ | — | — | SEC (XBRL)· 01 Mar 2024derived |
| SG&A | 66.4 m | 77.9 m | 39.6 m | 37.5 m | 114.5 m | 19.6 m | SEC (XBRL)· 06 Mar 2026verified |
| Operating income | -148.7 m | -123.0 m | -16.4 m | -16.7 m | -120.4 m | -57.4 m | SEC (XBRL)· 06 Mar 2026verified |
| Interest expense | 5.4 m | 6.4 m | 11.5 m | 16.2 m | 25.2 m | — | SEC (XBRL)· 07 Mar 2025verified |
| Pre-tax income | -119.8 m | -124.3 m | 13.0 m | 9.1 m | -194.4 m | -59.7 m | SEC (XBRL)· 06 Mar 2026verified |
| Income tax | -12.2 m | -22.9 m | 13.6 m | 12.3 m | -11.3 m | 4.1 m | SEC (XBRL)· 06 Mar 2026verified |
| Net income | -107.6 m | -101.4 m | -619.0 k | -3.2 m | -207.3 m | 4.6 m | SEC (XBRL)· 06 Mar 2026verified |
| Diluted EPS | -2.36 | -2.18 | -0.01 | -0.07 | -4.31 | 0.10 | SEC (XBRL)· 06 Mar 2026verified |
| Weighted average diluted shares | 45.6 m | 46.4 m | 47.2 m | 47.8 m | 48.1 m | 48.3 m | SEC (XBRL)· 06 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Revenue − Cost of revenue.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 14.8 m | 9.9 m | 17.3 m | 16.6 m | 60.8 m | 102.0 m | SEC (XBRL)· 06 Mar 2026verified |
| Receivables | 393.1 m | 407.6 m | 456.5 m | 447.2 m | 40.7 m | 28.9 m | SEC (XBRL)· 06 Mar 2026verified |
| Inventories | 12.0 m | 8.4 m | 8.9 m | 12.7 m | 6.8 m | 4.1 m | SEC (XBRL)· 06 Mar 2026verified |
| Current assets | 464.7 m | 440.8 m | 496.7 m | 496.9 m | 188.6 m | 177.1 m | SEC (XBRL)· 06 Mar 2026verified |
| Property, plant & equipment, net | 251.3 m | — | — | — | — | — | SEC (XBRL)· 01 Mar 2021verified |
| Goodwill | 12.6 m | 11.7 m | 11.7 m | 9.2 m | 9.2 m | 0 | SEC (XBRL)· 07 Aug 2026verified |
| Intangibles (excl. goodwill) | 4.8 m | 2.6 m | 1.8 m | 913.0 k | 209.0 k | — | SEC (XBRL)· 07 Mar 2025verified |
| Total assets | 824.6 m | 720.9 m | 724.7 m | 698.5 m | 384.0 m | 334.9 m | SEC (XBRL)· 06 Mar 2026verified |
| Accounts payable | 40.3 m | 37.6 m | — | — | — | — | SEC (XBRL)· 04 Mar 2022verified |
| Short-term debt | 1.2 m | 1.5 m | 83.5 m | 0 | 0 | — | SEC (XBRL)· 07 Mar 2025verified |
| Long-term debt | 81.3 m | 85.2 m | 0 | 42.8 m | 0 | — | SEC (XBRL)· 07 Mar 2025verified |
| Current liabilities | 128.6 m | 150.2 m | 237.2 m | 182.6 m | 114.5 m | 70.0 m | SEC (XBRL)· 06 Mar 2026verified |
| Total liabilities | 261.2 m | 257.7 m | 262.1 m | 238.4 m | 131.2 m | 76.6 m | SEC (XBRL)· 06 Mar 2026verified |
| Equity | 563.3 m † | 463.2 m † | 462.6 m † | 460.1 m † | 252.8 m † | 258.3 m † | SEC (XBRL)· 06 Mar 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 7.0 m | -18.9 m | 15.3 m | 31.4 m | 180.7 m | -18.6 m | SEC (XBRL)· 06 Mar 2026verified |
| Capex | — | 5.8 m | 12.7 m | 19.4 m | 1.2 m | 70.6 m | SEC (XBRL)· 06 Mar 2026verified |
| Free cash flow | — | -24.7 m ≈ | 2.5 m ≈ | 12.0 m ≈ | 179.5 m ≈ | -89.1 m ≈ | SEC (XBRL)· 06 Mar 2026derived |
| Investing cash flow | -2.3 m | 5.5 m | -2.1 m | -8.8 m | -10.4 m | 54.5 m | SEC (XBRL)· 06 Mar 2026verified |
| Financing cash flow | 4.3 m | 8.4 m | -5.6 m | -15.6 m | -112.1 m | -4.3 m | SEC (XBRL)· 06 Mar 2026verified |
| Dividends paid | 0 | 0 | — | — | — | — | SEC (XBRL)· 04 Mar 2022verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
Risk
Valuation
olivLaw classification
- score weight coverage: 43.8% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 145.3 m USD
Key indicators
Coverage and freshness
Score by group
44% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 3.29 – 6.82 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · the reported interest expense is far older than the latest period (the filer changed its XBRL tag): a stale figure is not used
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/E5.28 – 6.82 (Mid 6.35)9 companies used · median multiple 21.6x · quartiles 18.0x – 23.2xCLB, HAL, HOS, NESR, NGS, OII, RNGR, SLB, WTTR
- Dividend discount (DDM)3.29 – 4.42 (Mid 3.77)
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: score weight coverage: 43.8% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 17.1% | 100 (vs peers) | 14% |
| FCF conversion · Quality | -1,061.8% | 0 (on a fixed band) | 14% |
| Revenue CAGR 3Y · Growth | -50.4% | 0 (on a fixed band) | 19% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 1.5x | 59 (on a fixed band) | 10% |
| P/E (TTM) · Valuation | 10.3x | 100 (vs peers) | 24% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | -98.3% | 0 (on a fixed band) | 19% |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial59/100 · 1/3 factors with a value
- Growth· partial0/100 · 1/2 factors with a value
- Quality50/100 · 2/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation56/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Mammoth Energy Services, Inc. (TUSK). Latest full fiscal year: 2025; data up to 2026-09-30.
Figures computed from the financial statements: revenue 44.3 m USD in 2025; YoY growth -2.9%; net margin 17.1%; ROE 5.3%.
The estimated value range is 4.28–5.62 USD per share (median of 2 methods, agreement: low); assumptions are illustrative. Against the central value of 5.06 USD, the price of 3.02 USD leaves a potential of 67.5% (value / price − 1) and a margin of safety of 40.3% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (score weight coverage: 43.8% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Net margin: 17.1%
- P/E (TTM): 10.3x
- The price is below the estimated value range
What contradicts it
- FCF conversion: -1,061.8%
- Revenue CAGR 3Y: -50.4%
- FCF yield: -98.3%
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): ROIC, EPS CAGR 3Y, Net debt / EBITDA, Interest coverage, EV/EBITDA, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Oil & Gas Field Services, NEC (SIC 1389) · same industry (4-digit SIC) · compared with 18 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| SLBSlb Limited | 76.1 bn | 25.1 | 12.0% | 8.4% | −1.6% | +42% / −1% |
| HALHalliburton Company | 27.3 bn | 13.8 | 18.8% | 8.9% | −3.3% | +26% / −11% |
| OIIOceaneering International Inc | 3.6 bn | 11.0 | 31.1% | 11.4% | +4.6% | +49% / +76% |
| NESRNational Energy Services Reunited Corp. | 2.2 bn | 23.2 | 9.4% | 5.8% | +1.7% | +54% / unavailable |
| RESRpc, Inc. | 1.3 bn | — | -3.0% | -1.8% | +15.0% | +11% / −19% |
| HOSHornbeck Offshore Services, Inc. | 904.9 m | 23.0 | 2.5% | 3.0% | −4.9% | −8% / −34% |
| PUMPProPetro Holding Corp. | 788.8 m | — | 0.2% | 0.2% | −12.1% | −33% / −30% |
| ACDCProFrac Holding Corp. | 723.0 m | — | -57.4% | -22.8% | −11.4% | +12% / −51% |
| WTTRSelect Water Solutions, Inc. | 681.6 m | 21.3 | 3.5% | 2.2% | −3.1% | +67% / +127% |
| CLBCore Laboratories Inc. | 442.2 m | 28.6 | 5.7% | 3.0% | +0.5% | −36% / −46% |
| NGSNatural Gas Services Group, Inc. | 373.4 m | 18.0 | 7.3% | 10.8% | +9.9% | −7% / +89% |
| TUSKMammoth Energy Services, Inc. | 145.3 m | 10.3 | 5.3% | 17.1% | −2.9% | +47% / −34% |
| NINENine Energy Service, Inc. | 101.3 m | — | -214.6% | -9.1% | +1.4% | unavailable / unavailable |
| KLXEKLX Energy Services Holdings, Inc. | 21.5 m | — | — | -9.7% | −10.2% | −39% / −89% |
| RCONRecon Technology, Ltd | 8.9 m | — | -5.9% | -27.0% | +75.0% | −100% / −100% |
| NOANorth American Construction Group Ltd. | — | — | 8.0% | 2.6% | +10.2% | −20% / −45% |
| WBIWaterBridge Infrastructure LLC | — | 434.0 | 0.5% | 0.5% | +66.2% | +14% / unavailable |
| LBRTLiberty Energy Inc. | — | 54.2 | 2.0% | 0.9% | −7.2% | −26% / −34% |
| RNGRRanger Energy Services, Inc. | — | 21.6 | 5.1% | 2.6% | −4.2% | +0% / +39% |
1- and 3-year price returns: for TUSK from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 1.53 Total return -49% · Per year -49% | 2.73 Total return -10% · Per year -10% | 4.13 Total return 37% · Per year 37% |
| 3 years | 1.22 Total return -60% · Per year -26% | 2.46 Total return -18% · Per year -7% | 4.13 Total return 37% · Per year 11% |
| 5 years | 0.97 Total return -68% · Per year -20% | 2.22 Total return -26% · Per year -6% | 4.13 Total return 37% · Per year 6% |
- Exit P/E± 0.62
- Net margin± 0.43
- Annual revenue growth± 0.39
- Annual dilution± 0.04
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 07 Aug 2026; since then the company filed 8-K (30 Oct 2026 · results), 10-Q (30 Oct 2026).
In brief
Mammoth Energy Services is an integrated services provider serving the oil and natural gas, aviation and utility infrastructure industries, and its revenue rose 110% in the second quarter of 2026 to 26.1 million USD 2. The company raised its full-year outlook twice this year, now guiding to revenue growth above 90% 3.
SWOT
Strengths
- The company has a diversified service mix across aviation, sand, accommodation and drilling, and a solid liquidity position at the end of the second quarter of 2026 13.
- Rising aviation asset utilization and a recovering drilling segment show management's ability to capture demand in different markets 2.
- Recent fiber optic acquisitions extend the company's presence in utility infrastructure in the midwestern United States 2.
Weaknesses
- Revenue depends on a small number of large customers, and losing one could materially affect results 1.
- The company reported a net loss from continuing operations in fiscal 2025, with results heavily influenced by reserves and impairments 1.
- Restrictions in the revolving credit facility may limit financial flexibility and investment 1.
Opportunities
Threats
- Volatile oil and gas prices can cut customers' capital budgets in the energy industry 1.
- Geopolitical conflicts and Middle East tensions could increase instability in energy markets and supply chains 1.
- Without new large contracts, infrastructure revenue could stay below past levels after the PREPA work ended 1.
Risks
- Customer concentrationhigh
A small group of customers generates most revenue, and non-payment or loss of one could seriously affect finances 1.
- PREPA receivablemedium
The remaining amount due from PREPA depends on its plan of adjustment, and non-payment could affect cash flows 1.
- Aircraft obsolescencemedium
If certain aircraft types lose demand, lease rates and residual values could fall, possibly triggering impairments 1.
- Oil and gas dependencehigh
Activity in oilfield segments depends on prices, capital spending and rig counts, which are hard to forecast 12.
- Credit restrictionslow
The revolving credit facility limits debt, dividends and certain transactions, which could narrow strategic options 1.
Investment thesis
What would need to be true (bull case)
- If aviation asset utilization and the drilling recovery continue, quarterly results could keep trending upward 23.
- Rising demand for infrastructure tied to artificial intelligence could expand the fiber optic business 1.
- A relatively solid liquidity position could allow fleet investment and acquisitions if the market stays favorable 3.
What to watch
- Trend in aviation fleet utilization and aviation revenueQ3 2026
- Delivery against the guidance for revenue growth above 90 percent and Adjusted EBITDA margin above 10 percent2026
- Collection of the remaining PREPA amount and progress of its plan of adjustmentnext 10-K
- Effect of the fiber optic acquisitions on the infrastructure segmentQ4 2026
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 07 Aug 2026; since then the company filed 8-K (30 Oct 2026 · results), 10-Q (30 Oct 2026).
The business
Mammoth Energy Services, Inc. (TUSK) is an integrated, growth-oriented company that provides products and services to customers in the oil and natural gas, aviation and utility infrastructure industries 1. Its offerings include rental, infrastructure, natural sand proppant, accommodation and drilling services 1. The company says it aims to drive returns through asset utilization, margin expansion and capital efficiency 1.
Segments
Rental and aviation sales
This segment includes equipment for oilfield, construction and aviation activities, along with a portfolio of aviation assets whose fleet and utilization the company has been growing 12. Aviation revenue rose sharply in the second quarter of 2026 as utilization improved 2.
Natural sand proppant
The company mines, processes and sells natural sand used in hydraulic fracturing, and in the second quarter of 2026 it sold about 229,000 tons at an average price of 21.36 USD per ton 3.
Market context
Demand in aviation remained favorable and customer activity in oil and gas improved during 2026, although commodity price volatility remains a source of uncertainty 2. Demand for fiber optic services is supported by communications infrastructure investment and broadband programs, which the company links to data center and artificial intelligence demand 12.
Trends
- Aviation demandtailwind
Rising passenger and cargo demand supports leasing of aviation assets, and fleet utilization rose markedly in 2026 12.
- Fiber and AI infrastructuretailwind
Demand for data networks linked to artificial intelligence and funded infrastructure programs could support the infrastructure segment 1.
- Oil and gas activitymixed
Customer activity in oil and gas is volatile and depends on prices, and a declining rig count weighed on the company in recent years 12.
- Prices and trade tariffsheadwind
Commodity price volatility and tariffs could reduce customers' capital spending 2.
Competitive position
The company operates in markets where barriers to entry include financial resources, technical expertise and a safety record, and customers often pick providers through bids where price is a key factor 1. Competition rests on experience, operational resources, geographic presence and reputation 1.
- Fiber optic and utility service providers
Firms that build and maintain fiber networks and compete for infrastructure work through bids 1.
- Frac sand suppliers
Producers delivering natural sand across North American basins, competing on cost and rail logistics 1.
- Oilfield equipment rental providers
Suppliers renting cranes, generators and other equipment to oilfield operators 1.
- Directional drilling service providers
Firms offering directional drilling and measurement-while-drilling tools for shale wells 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- I've Visited Mammoth Cave National Park Countless Times—Here Are the Best Places to Stay When You GoConde Nast Traveler · 15 Oct 2026 · EN
- Ice Age carvers used mammoth tusk patterns to create unique art, study findsPhys.org · 16 Sept 2026 · EN
- Luminescence dating pushes age of South Dakota's Mammoth Site back by more than 100,000 yearsPhys.org · 13 Sept 2026 · EN
- Google Plans to Build Mammoth Solar Farm on an Abandoned Coal Mine. This Penny Stock Just Won the Deal.Yahoo Finance — News · 10 Sept 2026 · EN
- Drought-hit Danube gives way to mammoth fossil hunt in BulgariaFrance24 — Europe · 27 Aug 2026 · EN
- India Takes On Mammoth Population CountBloomberg Markets · 27 Aug 2026 · EN
- Harry's and Coterie owner Mammoth Brands has ambitions to be the next CPG giantCNBC World · 07 Jun 2026 · EN
The latest news item in our archive is from 15 Oct 2026; the newest SEC filing is from 30 Oct 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Quarterly report30 Oct 2026
- Current report30 Oct 2026Material agreement · Creation of a direct financial obligation · Regulation FD disclosure · Financial statements and exhibits
- Current report30 Oct 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Quarterly report07 Aug 2026
- Current report07 Aug 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Current report26 Jun 2026Shareholder vote
- Proxy statement15 May 2026
- Current report15 May 2026Item 4.01 · Financial statements and exhibits
- Quarterly report11 May 2026
- Current report11 May 2026Results of operations · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Mammoth Energy Services, Inc. · 06 Mar 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Mammoth Energy Services, Inc. · 07 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Mammoth Energy Services, Inc. · 07 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.