WhiteHawk Minerals Corp. (WHK)
WhiteHawk Minerals Corp. focuses on being the premier natural gas mineral and royalty business in the United States. It engages in disciplined acquisition, active management and ownership of high-quality mineral and royalty interests. The company was formerly known as WhiteHawk Income Corporation and changed its name to WhiteHawk Minerals Corp. in June 2026. The company was incorporated in 2022 and is based in Philadelphia, Pennsylvania.
Sector: Crude Petroleum & Natural Gas
Industry: Oil & Gas Midstream
WhiteHawk Minerals Corp
NYSE:WHKEnergy · Oil & Gas Midstream
+3.69%$25.54
AH Close$25.54+0.00%vs close
AH Close$25.54+0.00%vs close
Mkt Cap$703.51M
Float23.5M
O/S27.55M
Inst Own42.8%
SI3.6%
Div Yield0.43%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$73.18M
Net Income-$26.93M
Total Assets$507.14M
Free Cash Flow-$101.77M
Debt & Equity
Debt 53%
Equity 47%
Total Debt$234.56M
Total Equity$208.75M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in WHK's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$507.14M
Liabilities$298.38M
Accounts Receivable$10.18M
Accounts Payable$1.18M
Inventory$0
PP&E (Net)$460.86M
Goodwill$0
Intangible Assets$0
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|
| Currency | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
| Revenue | $73.18M | $13.87M | $7.98M |
| YoY Growth | 427.7% | 73.7% | - |
| Cost of Revenue | $36.45M | $10.83M | $6.45M |
| Gross Profit | $36.73M | $3.04M | $1.53M |
| Gross Margin | 50.2% | 21.9% | 19.2% |
| Research and Development | $0 | $0 | $0 |
| Selling, General, and Administrative | $27.44M | $2.79M | $2.93M |
| Other | $7.47M | $9.1M | -$7.84M |
| Total Operating Expenses | $34.91M | $11.89M | -$4.92M |
| Operating Income (EBIT) | $1.82M | -$8.85M | $6.45M |
| Operating Margin | 2.5% | -63.8% | 80.8% |
| Interest Expense | $19.73M | $3.94M | $1.13M |
| Interest Income | $0 | $0 | $0 |
| Other Income (Expense) | -$38.3M | -$4.3M | -$1.13M |
| Income Before Tax (EBT) | -$36.48M | -$13.15M | $5.32M |
| Income Tax Expense | -$4.15M | -$1.59M | $1.47M |
| Net Income | -$26.93M | -$11.56M | $3.84M |
| Net Income Margin | -36.8% | -83.4% | 48.1% |
| Supplementary Data | |||
| EPS | -0.41 | -0.63 | 0.11 |
| Diluted EPS | -0.41 | -0.63 | 0.11 |
| Weighted Average OS | 26.75M | 26.75M | 26.75M |
| EBITDA | $7.49M | $1.62M | $12.9M |
| EBITDA Margin | 10.2% | 11.7% | 161.6% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|
| Currency | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
| Assets | |||
| Current Assets | |||
| Cash and Cash Equivalents | $28.99M | $5.33M | $4.21M |
| Short-Term Investments | $0 | $0 | $0 |
| Cash and Short-Term Investments | $28.99M | $5.33M | $4.21M |
| Accounts Receivable | $10.18M | $4.04M | $2.5M |
| Inventory | $0 | $0 | $0 |
| Other Current Assets | $6.76M | $153K | $6.94M |
| Total Current Assets | $45.92M | $9.7M | $13.71M |
| Long-Term Assets | |||
| Property, Plant & Equipment Net | $460.86M | $155.08M | $135.52M |
| Goodwill | $0 | $0 | $0 |
| Intangible Assets | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 |
| Other Long-Term Assets | $353K | $1.13M | $35K |
| Total Long-Term Assets | $461.21M | $156.22M | $135.55M |
| Other Assets | $0 | $0 | $0 |
| Total Assets | $507.14M | $165.92M | $149.27M |
| Liabilities | |||
| Current Liabilities | |||
| Accounts Payable | $1.18M | $1.27M | $948K |
| Short-Term Debt | $6.28M | $6.5M | $0 |
| Current Income Tax Payable | $0 | $0 | $731K |
| Current Unearned Revenue | $0 | $0 | $0 |
| Other Current Liabilities | $0 | $0 | $0 |
| Total Current Liabilities | $16.3M | $11.4M | $3.74M |
| Long-Term Liabilities | |||
| Long-Term Debt | $227.99M | $56.28M | $19.44M |
| Long-Term Unearned Revenue | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $21.33M | $0 | $1.59M |
| Other Long-Term Liabilities | $32.65M | $27.66M | $43.31M |
| Total Long-Term Liabilities | $282.08M | $83.95M | $64.33M |
| Other Liabilities | $0 | $0 | $0 |
| Total Liabilities | $298.38M | $95.35M | $68.07M |
| Stockholders' Equity | |||
| Preferred Stock | $0 | $0 | $0 |
| Common Stock | $0 | $0 | $0 |
| Retained Earnings | -$15.15M | -$11.56M | $0 |
| Comprehensive Income & Other | $0 | $0 | $0 |
| Other Stockholders' Equity | $223.9M | $82.13M | $81.19M |
| Total Equity | $208.75M | $70.57M | $81.19M |
| Minority Interest | $0 | $0 | $0 |
| Total Liabilities and Equity | $507.14M | $165.92M | $149.27M |
| Supplementary Data | |||
| Total Debt | $234.56M | $62.78M | $19.44M |
| Net Debt | $205.57M | $57.45M | $15.23M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|
| Currency | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
| Operating Activities | |||
| Net Income | -$3.58M | -$11.56M | $3.84M |
| Depreciation & Amortization | $24.24M | $10.83M | $6.45M |
| Deferred Income Tax | -$3.51M | -$1.59M | $738K |
| Stock-Based Compensation | $179K | $0 | $0 |
| Changes in Working Capital: | |||
| Accounts Receivable | -$562K | -$1.53M | $375K |
| Inventory | $0 | $0 | $0 |
| Accounts Payable | -$836K | $327K | -$985K |
| Other Working Capital | $1.07M | -$834K | $100K |
| Total Working Capital Change | -$330K | -$2.04M | -$510K |
| Other Non-Cash Items | -$3.42M | $13.81M | -$4.01M |
| Net Cash from Operating | $13.58M | $9.45M | $6.51M |
| Investing Activities | |||
| Capital Expenditures | -$115.34M | -$30.39M | -$85.63M |
| Acquisitions | -$194.62M | $0 | $0 |
| Purchases of Investments | $0 | $0 | $0 |
| Sales of Investments | $0 | $0 | $0 |
| Other Investing Activities | $0 | $0 | $0 |
| Net Cash from Investing | -$309.96M | -$30.39M | -$85.63M |
| Financing Activities | |||
| Debt Repaid | -$172.7M | -$45M | -$20M |
| Common Stock Issuance | $169.74M | $9.61M | $19.67M |
| Common Stock Repurchases | -$75.41M | -$25.54M | -$126K |
| Dividends Paid | -$12.47M | -$8.04M | -$5.69M |
| Other Financing Activities | $69.33M | $22.77M | -$675K |
| Net Cash from Financing | $320.04M | $22.06M | $76.39M |
| Forex Effect | $0 | $0 | $0 |
| Net Change in Cash | $23.66M | $1.12M | -$2.72M |
| Supplementary Data | |||
| Operating Cash Flow | $13.58M | $9.45M | $6.51M |
| Capital Expenditure | -$115.34M | -$30.39M | -$85.63M |
| Free Cash Flow | -$101.77M | -$20.95M | -$79.11M |
| Cash at Beginning | $5.33M | $4.21M | $6.93M |
| Cash at End | $28.99M | $5.33M | $4.21M |