Capital investment and capacitypositive · 4 filings
“Capital expenditures increased $23.4 million due to project timing between the current period and the corresponding period in 2025.”10-Q · May 6, 2026 ↗
Talos Energy Inc.
TALO
Market read
Talos Energy Inc.'s move is being confirmed by its market group.
The latest filing evidence is available. 4 of 13 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 5 directly disclosed connections are confirming.
What changed
- Revenue decreased 7.9% versus the comparable filing period.
Company+0.1% todayVolume comparison unavailable
Market group4 of 13 activeOil & Gas · inactive
Disclosed network0 of 5 confirmingNo filing-linked name is confirming now
What would change this read
Watch this read- At least 9 of 13 durable members become active together.
- Capital-flow agreement rises above 55%.
- A filing-linked outsider such as MNR begins moving with the group.
Invalidation: The live read weakens if participation falls to 4 of 13 members or fewer.
Research brief
The story so far
The latest filing evidence is available. 4 of 13 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 5 directly disclosed connections are confirming.
Evidence that supports
No thresholded supportive filing evidence is available yet.
Evidence that challenges
- Revenue decreased 7.9% versus the comparable filing period.
- Operating income moved from a profit to a loss in the comparable period.
- Net margin fell 52.3 percentage points.
What would clarify the read
- At least 9 of 13 durable members become active together.
- Capital-flow agreement rises above 55%.
- A filing-linked outsider such as MNR begins moving with the group.
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods9
Price observations327
Usable filing statements95
Verified relationships6
Evidence supporting the case
No qualifying supportive evidence was identified.
Evidence challenging the case
- Latest annual revenue changed -9.8% year over year.
- Operating margin changed -40.2 percentage points in the latest annual period.
- Net margin changed -23.9 percentage points in the latest annual period.
- Energy and commodity prices has repeated adverse evidence across 4 filings.
- Restructuring and cost reductions has repeated adverse evidence across 4 filings.
- Credit and interest rates has repeated adverse evidence across 3 filings.
Questions before a position
- EV/sales is 28% below the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context
Price as of Sep 10, 2026
17.556m+30.7%12m+84.3%24m—
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2021-12-31$1.2B+116.1%$-2.24+20.8%
2022-12-31$1.7B+32.7%$4.56+2.3%
2023-12-31$1.5B-11.7%$1.55+44.3%
2024-12-31$2.0B+35.4%$-0.44+45.4%
2025-12-31$1.8B-9.8%$-2.82-0.3%
What management says matters
Persistent and emerging business drivers
Energy and commodity pricesnegative · 4 filings
“As a result of the derivative contracts we have on our anticipated production volumes through June 2027, we expect these activities to continue to impact net income (loss) based on fluctuations in market prices for oil and natural gas.”10-Q · May 6, 2026 ↗
Restructuring and cost reductionsnegative · 4 filings
“As a result of our ceiling test computations, an impairment of our U.S.”10-Q · May 6, 2026 ↗
Credit and interest ratesnegative · 3 filings
“We define these as the following: • EBITDA — Net income (loss) attributable to Talos Energy Inc.”10-Q · May 6, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 1.7× · EV/sales 2.2×. Comparisons use only industry-matched filing peers.
Scenario scaffold
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
17.55+0.1% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for TALO. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Latest filing assessment · baseline
The latest filing shows material pressure
10-Q filed 2026-05-06 against the comparable filing from 2025-05-06.
OperationscautiousEvidence score -4
liquidityneutralEvidence score 0
valuationmixed
What improved
No thresholded improvement was identified.
What weakened
- Revenue decreased 7.9% versus the comparable filing period.
- Operating income moved from a profit to a loss in the comparable period.
- Net margin fell 52.3 percentage points.
Filing receipts
“For the three months ended March 31, 2025, neither transaction expenses nor other income (expense) were material. (2) Estimated decommissioning obligations were a result of working interest partners or counterparties of divestiture transactions that were unable to perform the required abandonment obligations due to bankruptcy or insolvency.”
“The information below provides the financial results and an analysis of significant variances in these results (in thousands, except per Boe data): Three Months Ended March 31, 2026 2025 General and administrative expense $ 40,970 $ 34,615 General and administrative expense per Boe $ 5.13 $ 3.81 Three Months Ended March 31, 2026 and 2025 — General and administrative expense for the three months ended March 31, 2026 increased by approximately $6.4 million, or 18%, primarily driven by higher employee related costs compared to the same period in 2025.”
“Boe $ 5.13 $ 3.81 Three Months Ended March 31, 2026 and 2025 — General and administrative expense for the three months ended March 31, 2026 increased by approximately $6.4 million, or 18%, primarily driven by higher employee related costs compared to the same period in 2025.”
Retrospective baseline calibration. It was generated after the filing date and is not part of Jodie's live track record.
Business ecosystem
The relationships behind TALO
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
HLXHelix Energy Solutions Group, Inc.partnerNov 6, 2025 ▾
“We produce the Phoenix Field through the Helix Producer I (“HP-I”) that is operated by Helix Energy Solutions Group, Inc (“Helix”).”
TTETotalEnergies SEinvesteeNov 6, 2025 ▾
“During the three months ended September 30, 2024, an incremental $13.5 million gain related to the recognition of contingent consideration from the sale of our wholly owned subsidiary, Talos Low Carbon Solutions LLC to TotalEnergies E&P USA, Inc.”
Depended on by
HLX87.0% of HLXcustomerJul 24, 2025 ▾
“Our various contracts with Shell and Subsea 7 globally, our contracts with Trident Energy and Petrobras in Brazil, and our contracts with Talos in the Gulf of America represented approximately 87% of our total backlog as of June 30, 2025.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 9 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
TALO is currently a Early Follower in the organic co-movement group Oil & Gas. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.