Tullow Oil
TLW · Main Market · Energy · mcap £141m · 10.6p
Tullow Oil produces oil and gas, now almost entirely from the Jubilee and TEN fields offshore Ghana. It has sold its Gabon and Kenya assets to focus on Ghana.
Financials · LTM to 30 Jun 26
Source: results 28 Sep 26 ↗
- Revenue
- £694m
- Operating profit
- £274m
- Net income
- −£23.0m
- Free cash flow
- £107m
- Net debt
- £1.0bn
- Market cap
- £160m
- EV / EBIT
- 4.3×
- FCF yield
- +67.1%
- Price / book
- –
Latest half-year · H2 Jun 26 vs H2 Jun 25
results 28 Sep 26 ↗
- Revenue
- £369m +16%
- Operating profit
- £191m +177%
- Net income
- −£74.8m prior −£46.9m
- Cash from operations
- £206m +214%
Extracted automatically from the company's results announcements; check the source before relying on a figure. Not investment advice.
Latest report: H2 Jun 26 (six months to 30 Jun 26), published 28 Sep 26 · read the results ↗
£m unless stated · newest first · italic = calculated (LTM, H2 = FY − H1) · hover a value for its source
| FY Jun 26 | FY Dec 25 | FY Jun 25 | FY Dec 24 | FY Dec 23 | |
|---|---|---|---|---|---|
| Revenue | – | 642.9 | – | 1,007.3 | 1,314.4 |
| Gross profit | – | 187.7 | – | 496.7 | 615.2 |
| Adjusted EBITDA | 553.6 | 444.8 | 594.0 | 788.8 | – |
| Operating profit | – | 151.7 | – | 351.1 | 238.0 |
| Share-based payments | – | 5.8 | – | 5.4 | 4.8 |
| Finance costs | – | 248.1 | – | (269.3) | (265.1) |
| Profit before tax | – | (47.6) | – | 135.9 | 77.1 |
| Tax | – | (50.5) | – | (179.0) | (165.3) |
| Net income (owners) | – | 4.9 | – | 42.7 | (88.2) |
| Discontinued operations | – | 103.0 | – | 85.8 | – |
| EPS basic | – | 0.3p | – | 2.9p | (6.0p) |
| EPS diluted | – | 0.3p | – | 2.9p | (6.0p) |
| H2 Jun 26 | vs H2 Jun 25 | H2 Dec 25 | H2 Jun 25 | H2 Dec 24 | H2 Jun 24 | H2 Dec 23 | |
|---|---|---|---|---|---|---|---|
| Revenue | 368.8 | +16% | 325.6 | 317.2 | 407.6 | 599.7 | 684.4 |
| Gross profit | 205.4 | +61% | 60.2 | 127.5 | 133.4 | 363.2 | 330.4 |
| Operating profit | 190.9 | +177% | 82.7 | 69.0 | (48.5) | 399.6 | 4.8 |
| Share-based payments | 2.3 | −19% | 3.0 | 2.9 | 3.5 | 1.9 | 3.9 |
| Finance costs | 176.4 | +35% | 117.5 | 130.6 | (128.9) | (140.4) | (135.1) |
| Profit before tax | 20.1 | n/m | (9.0) | (38.6) | (154.6) | 290.5 | (99.0) |
| Tax | (94.4) | +308% | (27.3) | (23.2) | (43.3) | (135.6) | (46.0) |
| Net income (owners) | (74.8) | n/m | 51.8 | (46.9) | (112.2) | 154.9 | (145.0) |
| Discontinued operations | – | – | 87.8 | 15.2 | – | – | – |
| EPS basic | (5.1p) | – | 4.3p | (4.0p) | (7.7p) | 10.7p | (9.9p) |
| EPS diluted | (5.1p) | – | 3.4p | (3.1p) | (7.3p) | 10.2p | (9.7p) |
| H2 Jun 26 | vs H2 Jun 25 | H2 Dec 25 | H2 Jun 25 | H2 Dec 24 | H2 Jun 24 | H2 Dec 23 | |
|---|---|---|---|---|---|---|---|
| Cash from operations | 205.7 | +214% | 188.1 | 65.6 | 410.7 | 182.9 | 532.9 |
| Interest paid | (47.1) | −41% | (84.5) | (79.6) | (82.7) | (91.9) | (91.7) |
| Tax paid | (55.7) | −30% | (17.0) | (79.6) | (38.9) | (243.0) | (86.8) |
| Capex (PP&E) | (87.5) | +26% | (73.1) | (69.5) | (43.7) | (110.3) | (101.6) |
| Capex (intangibles) | – | – | – | – | – | (10.1) | (12.6) |
| Lease principal paid | (51.2) | −8% | (51.9) | (56.0) | (58.0) | (74.2) | (83.8) |
| FY Jun 26 | FY Jun 25 | FY Jun 24 | FY Jun 23 | |
|---|---|---|---|---|
| Goodwill | – | – | 35.5 | – |
| Other intangibles | – | – | 233.8 | 227.0 |
| Property, plant & equipment | 1,315.1 | 1,471.0 | 1,988.9 | 2,384.7 |
| Inventories | 95.5 | 78.1 | 140.8 | 99.0 |
| Trade receivables | 122.1 | 77.3 | 72.4 | 130.0 |
| Cash | 141.5 | 141.5 | 215.6 | 233.5 |
| Current assets | 722.0 | 933.1 | – | – |
| Total assets | 2,161.5 | 2,627.7 | 3,330.3 | 3,792.3 |
| Trade payables | 583.3 | 435.5 | 527.5 | 1,117.7 |
| Borrowings, current | 0.0 | 1,039.7 | 465.9 | 79.3 |
| Current liabilities | 743.2 | 1,684.5 | – | – |
| Borrowings, non-current | 1,164.9 | 278.4 | 1,099.4 | 1,673.1 |
| Total liabilities | 2,431.8 | 2,868.0 | 3,454.1 | 3,972.4 |
| Total equity | (270.3) | (240.3) | (123.8) | (180.1) |
| Net cash / (debt) ex leases | (1,054.8) | (1,195.4) | (1,372.0) | (1,536.3) |
| H2 Jun 26 | H1 Dec 25 | H2 Jun 25 | H1 Dec 24 | H2 Jun 24 | H1 Dec 23 | |
|---|---|---|---|---|---|---|
| Goodwill | – | 0.0 | – | 35.8 | 35.5 | – |
| Other intangibles | – | – | – | – | 233.8 | 225.4 |
| Property, plant & equipment | 1,315.1 | 1,406.6 | 1,471.0 | 1,852.0 | 1,988.9 | 1,989.0 |
| Inventories | 95.5 | 66.9 | 78.1 | 105.5 | 140.8 | 84.3 |
| Trade receivables | 122.1 | 133.1 | 77.3 | 109.9 | 72.4 | 34.2 |
| Cash | 141.5 | 246.7 | 141.5 | 442.3 | 215.6 | 391.9 |
| Current assets | 722.0 | 801.4 | 933.1 | 975.6 | – | – |
| Total assets | 2,161.5 | 2,434.7 | 2,627.7 | 3,228.5 | 3,330.3 | 3,501.3 |
| Trade payables | 583.3 | 474.0 | 435.5 | 586.9 | 527.5 | 608.6 |
| Borrowings, current | 0.0 | 948.9 | 1,039.7 | 469.7 | 465.9 | 78.5 |
| Current liabilities | 743.2 | 1,531.8 | 1,684.5 | 1,225.1 | – | – |
| Borrowings, non-current | 1,164.9 | 282.9 | 278.4 | 1,104.8 | 1,099.4 | 1,558.5 |
| Total liabilities | 2,431.8 | 2,622.4 | 2,868.0 | 3,445.8 | 3,454.1 | 3,783.6 |
| Total equity | (270.3) | (187.8) | (240.3) | (217.3) | (123.8) | (282.2) |
| Net cash / (debt) ex leases | (1,054.8) | (1,004.7) | (1,195.4) | (1,157.1) | (1,372.0) | – |
Line items extracted automatically from each results announcement; when a later report restates a period, the later figure is shown. LTM and H2 are calculated from reported periods. Check the source before relying on a figure.
Company filings. Not investment advice.