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Relative valuation derived from Energy sector median benchmarks. Model weights: EV/EBITDA (40%), P/B (35%), P/S (25%). Multiples adjusted for extreme outliers and non-recurring volatility.
Auditing capital efficiency...
Quality Profile Audit
Score: 50GRADE C+
Composite assessment of profitability, capital efficiency, and financial strength. Top-tier entities demonstrate sustainable cash flow generation.
Return on Equity
Profit generated per dollar of shareholder equity
0.5%
Sector: 6.7%
Dividend Analysis audit
No Dividend
This company does not currently pay a dividend.
Analyst Projections
Analyst Consensus
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Based on our 6-factor quantitative model, Amplify Energy Corp. (AMPY) receives a "Buy" rating with a composite score of 53.8/100, ranked #65 out of 4446 stocks. Key factor scores: Quality 50/100, Value 80/100, Momentum 63/100. This is quantitative analysis only — not investment advice.
Amplify Energy Corp. (AMPY) Stock Analysis — April 2026 Rating, Price, and Forecast
Company Overview — What Does Amplify Energy Corp. Do?
Amplify Energy Corp. engages in the acquisition, development, exploitation, and production of oil and natural gas properties in the United States. The company's properties consist of operated and non-operated working interests in producing and undeveloped leasehold acreage, as well as working interests in identified producing wells located in Oklahoma, the Rockies, federal waters offshore Southern California, East Texas/North Louisiana, and Eagle Ford. As of December 31, 2021, it had total estimated proved reserves of approximately 121.2 million barrels of oil equivalent; and 2,417 gross producing wells. The company is headquartered in Houston, Texas. Amplify Energy Corp. (AMPY) is classified as a micro-cap stock in the Energy sector, specifically within the Petroleum And Natural Gas industry. The company is led by CEO Martyn A. Willsher and employs approximately 210 people. With a market capitalization of $271M, AMPY is one of the notable companies in the Energy sector.
Amplify Energy Corp. (AMPY) Stock Rating — Buy (April 2026)
As of April 2026, Amplify Energy Corp. receives a Buy rating with a composite score of 53.8/100 and 4 out of 5 stars from the Blank Capital Research quantitative model.AMPY ranks #65 out of 4,446 stocks in our coverage universe. Within the Energy sector, Amplify Energy Corp. ranks #7 of 128 stocks, placing it in the top 10% of its Energy peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).
AMPY Stock Price and 52-Week Range
Amplify Energy Corp. (AMPY) currently trades at $5.98. The 52-week high for AMPY is $6.79, which means the stock is currently trading -11.9% from its annual peak. The 52-week low is $2.27, putting the stock 163.4% above its annual trough. Recent trading volume was 0 shares, suggesting relatively thin trading activity.
Is AMPY Overvalued or Undervalued? — Valuation Analysis
Amplify Energy Corp. (AMPY) carries a value factor score of 80/100 in the Blank Capital model, suggesting the stock trades at a meaningful discount to its fundamental earning power. The trailing price-to-earnings ratio is 109.65x, compared to the Energy sector average of 20.66x — a premium of 431%. The price-to-book ratio stands at 0.53x, versus the sector average of 1.76x. The price-to-sales ratio is 0.88x, compared to 0.49x for the average Energy stock. On an enterprise value basis, AMPY trades at 16.54x EV/EBITDA, versus 3.73x for the sector.
Based on these multiples, Amplify Energy Corp. appears attractively valued relative to both its sector peers and the broader market. Value-oriented investors may find the current entry point compelling, particularly if the company's fundamental quality metrics also score well.
Amplify Energy Corp. Profitability — ROE, Margins, and Quality Score
Amplify Energy Corp. (AMPY) earns a quality factor score of 50/100, indicating solid business quality with consistent operational execution. The return on equity (ROE) is 0.5%, compared to the Energy sector average of 6.7%, which is below typical expectations for high-quality companies. Return on assets (ROA) comes in at 0.4% versus the sector average of 3.7%.
On a margin basis, Amplify Energy Corp. reports gross margins of 93.3%, compared to 52.7% for the sector. The operating margin is 4.9% (sector: 10.7%). Net profit margin stands at 0.5%, versus 6.4% for the average Energy stock. Revenue growth is running at -16.5% on a trailing basis, compared to -1.2% for the sector. The overall profitability profile is adequate, though there may be room for margin expansion.
AMPY Debt, Balance Sheet, and Financial Health
Amplify Energy Corp. has a debt-to-equity ratio of 31.0%, compared to the Energy sector average of 55.0%. The low leverage indicates a conservative balance sheet with significant financial flexibility. The current ratio is 2.25x, indicating strong short-term liquidity. Total debt on the balance sheet is $123M. Cash and equivalents stand at $0.
AMPY has a beta of 1.03, meaning it is roughly in line with the broader market in terms of price volatility. The stability factor score for Amplify Energy Corp. is 38/100, suggesting elevated price swings that may be unsuitable for conservative portfolios.
Amplify Energy Corp. Revenue and Earnings History — Quarterly Trend
In TTM 2026, Amplify Energy Corp. reported revenue of $277M and earnings per share (EPS) of $1.03. Net income for the quarter was $2M. Gross margin was 93.3%. Operating income came in at $15M.
In FY 2025, Amplify Energy Corp. reported revenue of $263M and earnings per share (EPS) of $1.03. Net income for the quarter was $44M. Gross margin was 93.2%. Revenue grew -10.6% year-over-year compared to FY 2024. Operating income came in at $77M.
In Q3 2025, Amplify Energy Corp. reported revenue of $66M and earnings per share (EPS) of $-0.52. Net income for the quarter was $-21M. Gross margin was 92.1%. Revenue grew -5.0% year-over-year compared to Q3 2024. Operating income came in at $-27M.
In Q2 2025, Amplify Energy Corp. reported revenue of $68M and earnings per share (EPS) of $0.15. Net income for the quarter was $6M. Gross margin was 93.1%. Revenue grew -14.0% year-over-year compared to Q2 2024. Operating income came in at $13M.
Over the past 8 quarters, Amplify Energy Corp. has demonstrated a growth trajectory, with revenue expanding from $80M to $277M. Investors analyzing AMPY stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.
AMPY Dividend Yield and Income Analysis
Amplify Energy Corp. (AMPY) does not currently pay a dividend. This is common among smaller companies in the Petroleum And Natural Gas industry that prefer to reinvest cash flows into business expansion rather than returning capital to shareholders. Income-focused investors looking for Energy dividend stocks may want to explore other Energy stocks or use the stock screener to filter by dividend yield.
AMPY Momentum and Technical Analysis Profile
Amplify Energy Corp. (AMPY) has a momentum factor score of 63/100, reflecting neutral trend characteristics. The stock is neither significantly outperforming nor underperforming the broader market on a momentum basis. The investment factor score is 37/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 36/100 signals elevated short interest, which can indicate bearish sentiment among institutional investors.
AMPY vs Competitors — Energy Sector Ranking and Peer Comparison
Comparing AMPY against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full AMPY vs S&P 500 (SPY) comparison to assess how Amplify Energy Corp. stacks up against the broader market across all factor dimensions.
AMPY Next Earnings Date
No upcoming earnings date has been announced for Amplify Energy Corp. (AMPY) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.
Should You Buy AMPY? — Investment Thesis Summary
The bull case for Amplify Energy Corp. rests on several quantitative strengths. The value score of 80/100 suggests attractive pricing relative to fundamentals. Price momentum is positive at 63/100, suggesting the trend favors buyers. High volatility (stability score 38/100) increases portfolio risk.
In summary, Amplify Energy Corp. (AMPY) earns a Buy rating with a composite score of 53.8/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on AMPY stock.
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Institutional Research Dossier
Amplify Energy Corp. (AMPY) Deep Dive Analysis
Published on March 24, 2026
Action RatingBuy
Sections
Executive Summary
Amplify Energy Corp. (AMPY) receives a Hold rating, driven by a mixed financial profile characterized by strong value metrics offset by concerns regarding profitability and stability. While the company exhibits attractive valuation multiples and high gross margins, its negative revenue growth, low returns on equity, and volatile earnings history raise questions about its long-term sustainability and ability to generate consistent shareholder value. The company's exposure to environmental risks and regulatory uncertainties further contributes to the cautious outlook.
The primary takeaway is that while AMPY may appear undervalued based on current earnings and asset valuations, investors should carefully consider the inherent risks associated with its operations and the cyclical nature of the oil and gas industry. A more favorable rating would require demonstrable improvements in profitability, revenue growth, and a reduction in operational and environmental liabilities.
Business Strategy & Overview
Amplify Energy Corp. operates as an oil and gas exploration and production company, focusing on acquiring, developing, and exploiting properties primarily in the United States. The company's revenue is generated from the sale of crude oil, natural gas, and natural gas liquids (NGLs) extracted from its producing wells. Amplify's strategy centers on maximizing production from existing assets while selectively pursuing accretive acquisitions to expand its reserve base. The company's portfolio includes assets in Oklahoma, the Rockies, offshore Southern California, East Texas/North Louisiana, and the Eagle Ford shale.
A key aspect of Amplify's business model is its focus on mature fields, where it aims to enhance production through improved operational efficiencies and targeted investments. This approach allows the company to leverage its expertise in reservoir management and well optimization to extract additional value from established assets. However, this strategy also exposes Amplify to the risks associated with declining production rates and the need for continuous capital expenditures to maintain output.
The company's strategic positioning within the energy sector is characterized by its relatively small size and concentrated asset base. This makes Amplify more vulnerable to fluctuations in commodity prices and operational disruptions compared to larger, more diversified energy companies. Furthermore, the company's operations in offshore Southern California have been subject to increased scrutiny following the 2021 oil spill incident, which has resulted in significant legal and regulatory challenges.
Amplify's product pipeline primarily consists of development projects aimed at increasing production from its existing fields. The company invests in drilling new wells, recompleting existing wells, and implementing enhanced oil recovery techniques to boost output. However, the success of these projects depends on various factors, including reservoir characteristics, drilling costs, and commodity prices. The company's ability to effectively manage these factors will be crucial in driving future growth and profitability.
The broader industry context for Amplify is characterized by increasing competition, regulatory pressures, and environmental concerns. The rise of renewable energy sources and the growing emphasis on decarbonization are posing long-term challenges to the oil and gas industry. Amplify must adapt to these changes by improving its environmental performance, reducing its carbon footprint, and exploring opportunities in emerging energy technologies.
Execution Benchmarks audit
Revenue Growth
YOY expansion rate
-16.5%
Sector: -1.2%
+1309% VS SCTR
Economic Moat Analysis
Amplify Energy Corp. possesses a narrow economic moat, primarily stemming from its expertise in operating mature oil and gas fields and its ability to extract value from these assets through efficient operations and targeted investments. This expertise creates a barrier to entry for companies lacking the technical skills and experience to manage complex reservoir dynamics and optimize production from aging wells. However, the moat is narrow due to the limited differentiation in the commodity nature of oil and gas and the relatively low switching costs for customers.
The company's intangible assets, such as its proprietary knowledge of reservoir characteristics and its relationships with local service providers, contribute to its competitive advantage. These assets enable Amplify to make informed decisions about drilling locations, well completion techniques, and production optimization strategies. However, these intangible assets are not unique to Amplify and can be replicated by other companies with sufficient resources and expertise.
Amplify's cost advantages are primarily derived from its focus on mature fields, where the initial capital expenditures have already been incurred. This allows the company to operate at a lower cost per barrel of oil equivalent (BOE) compared to companies that are focused on developing new fields. However, these cost advantages are offset by the higher operating expenses associated with maintaining aging infrastructure and the need for continuous capital expenditures to sustain production.
The company does not benefit from significant network effects or efficient scale. The oil and gas industry is characterized by a fragmented market structure, with numerous companies competing for resources and customers. Amplify's relatively small size limits its ability to achieve economies of scale and exert influence over market prices. Furthermore, the company's operations are not subject to strong network effects, as the value of its assets is not significantly enhanced by the presence of other users or participants.
The narrow moat is further threatened by increasing regulatory scrutiny and environmental concerns. The company's operations are subject to strict environmental regulations, which can increase compliance costs and limit its ability to expand its production. Furthermore, the growing emphasis on decarbonization and the rise of renewable energy sources are posing long-term challenges to the oil and gas industry, which could erode Amplify's competitive advantage over time.
Financial Health & Profitability
Amplify Energy's financial health presents a mixed picture. While the company boasts a strong current ratio of 2.25, indicating sufficient liquidity to cover short-term obligations, its revenue growth has been negative, with a TTM decline of 16.5% compared to a sector average of -1.7%. This revenue contraction raises concerns about the company's ability to maintain profitability and generate sustainable cash flow.
The company's gross margin of 93.3% significantly exceeds the sector average of 55.1%, suggesting efficient cost management in its production operations. However, this advantage is diminished by a lower operating margin of 4.9% compared to the sector average of 10.6%, indicating higher operating expenses relative to revenue. Similarly, the net margin of 0.5% lags the sector average of 6.3%, reflecting the impact of interest expenses, taxes, and other non-operating items.
Amplify's return on equity (ROE) of 0.5% is significantly below the sector average of 6.9%, indicating a less efficient use of shareholder equity. This low ROE is a major concern, as it suggests that the company is not generating sufficient returns on its investments. The company's debt-to-equity ratio of 31.00 is lower than the sector average of 55.00, indicating a relatively conservative capital structure. However, the company's total debt of $123 million still represents a significant financial obligation.
Analyzing the quarterly financial history reveals volatility in Amplify's earnings. While FY2023 showed a substantial net income of $392.75 million, largely driven by a significant gain in Q1, subsequent quarters have exhibited inconsistent performance, with periods of net losses and fluctuating operating margins. The most recent quarter, Q3 FY2025, reported a net loss of $20.97 million and a negative operating margin of -39.9%, highlighting the challenges the company faces in maintaining profitability.
Free cash flow (FCF) generation is also a concern. The TTM FCF of $10.36 million is relatively low compared to the company's market capitalization, indicating limited cash flow available for debt repayment, capital expenditures, and shareholder returns. The absence of FCF data for prior periods further complicates the assessment of the company's long-term cash flow sustainability.
Valuation Assessment
Amplify Energy's valuation presents a compelling case for value investors, but requires careful consideration of its operational and financial risks. The company's P/E ratio of 6.3x is significantly lower than the sector average of 19.5x, suggesting that the stock is undervalued relative to its earnings. Similarly, its EV/EBITDA ratio of 0.9x is substantially below the sector average of 3.5x, further reinforcing the perception of undervaluation based on its enterprise value and operating performance.
However, these low multiples must be interpreted in the context of Amplify's negative revenue growth, low ROE, and volatile earnings history. The market may be discounting the stock to reflect the risks associated with the company's operations and the cyclical nature of the oil and gas industry. Furthermore, the company's exposure to environmental liabilities and regulatory uncertainties could be weighing on its valuation.
A discounted cash flow (DCF) analysis would be necessary to determine the intrinsic value of the stock. However, the lack of historical FCF data and the volatility in the company's earnings make it difficult to project future cash flows with a high degree of confidence. A conservative approach would be to assume a low growth rate and a high discount rate to reflect the risks associated with the company's operations.
Relative to its own history, Amplify's current valuation is lower than its historical averages. However, this comparison is less meaningful due to the significant changes in the company's business environment and financial performance over time. The 2021 oil spill incident and the subsequent legal and regulatory challenges have had a material impact on the company's valuation.
Overall, Amplify's valuation appears attractive based on current earnings and asset valuations. However, investors should carefully consider the inherent risks associated with its operations and the cyclical nature of the oil and gas industry. A more favorable valuation would require demonstrable improvements in profitability, revenue growth, and a reduction in operational and environmental liabilities.
Risk & Uncertainty
Amplify Energy faces several significant risks that could negatively impact its financial performance and stock price. The most prominent risk is environmental liability, stemming from the 2021 oil spill off the coast of Southern California. The company faces potential fines, penalties, and legal settlements related to this incident, which could have a material adverse effect on its financial condition. The ongoing investigations and litigation surrounding the spill create significant uncertainty and could result in substantial financial losses.
Another key risk is commodity price volatility. Amplify's revenue is directly tied to the prices of oil and natural gas, which are subject to significant fluctuations due to global supply and demand dynamics, geopolitical events, and economic conditions. A sustained decline in commodity prices could reduce the company's revenue and profitability, potentially leading to financial distress.
Regulatory risk is also a significant concern. The oil and gas industry is subject to extensive regulations at the federal, state, and local levels, covering environmental protection, safety, and permitting. Changes in these regulations could increase the company's compliance costs and limit its ability to expand its operations. Furthermore, increased scrutiny from regulatory agencies could lead to delays in permitting and increased enforcement actions.
Operational risk is another important consideration. Amplify's operations are subject to various hazards, including well blowouts, equipment failures, and natural disasters. These events could disrupt production, increase operating costs, and result in environmental damage. The company's ability to effectively manage these risks is crucial to its long-term success.
Finally, the company faces competition from other oil and gas producers, including larger, more diversified companies with greater financial resources. This competition could limit Amplify's ability to acquire new assets, increase production, and maintain its market share. The company's relatively small size and concentrated asset base make it more vulnerable to competitive pressures.
Bulls Say / Bears Say
The Bull Case
BULL VIEWAmplify Energy's low valuation multiples (P/E and EV/EBITDA) suggest significant upside potential if the company can stabilize its operations and improve its profitability.
BULL VIEWThe company's high gross margins demonstrate efficient cost management and the potential for strong cash flow generation in a favorable commodity price environment.
BULL VIEWAmplify's focus on mature fields allows it to leverage its expertise and extract value from assets that may be overlooked by larger companies.
The Bear Case
BEAR VIEWAmplify Energy's negative revenue growth and low ROE indicate fundamental weaknesses in its business model and its ability to generate sustainable shareholder value.
BEAR VIEWThe company's exposure to environmental liabilities and regulatory uncertainties creates significant financial risks that could outweigh any potential upside.
BEAR VIEWAmplify's small size and concentrated asset base make it vulnerable to commodity price volatility and operational disruptions.
About the Author
Marques Blank
Founder & Chief Investment Officer, Blank Capital
Marques brings 15 years of institutional finance and investing experience, having overseen financial planning for a $1.6B defense business unit. He developed the proprietary 6-factor quantitative model used to score AMPY and 4,400+ other equities.
Amplify Energy Corp. exhibits a 196% valuation premium relative to institutional benchmarks. This represents a potential valuation overextension based on current multiples.
Return on Assets
Efficiency of asset utilization
0.4%
Sector: 3.7%
Gross Margin
Pricing power and cost efficiency
93.3%
Sector: 52.7%
Operating Margin
Core business profitability
4.9%
Sector: 10.7%
Net Margin
Bottom-line profitability
0.5%
Sector: 6.4%
Factor Methodology
The Quality factor evaluates the persistence and magnitude of cash flows. Companies with scores >70 exhibit superior competitive moats and financial resilience through economic cycles.
