CTRAHIGH SIGNALFINANCIAL10-K

CTRA deployed $4 billion in major acquisitions while dramatically reducing cash reserves from $2.0B to $114M and significantly increasing dividend payments.

The company executed a capital-intensive growth strategy through two large Delaware Basin acquisitions totaling $4 billion, funded by depleting nearly all cash reserves and likely additional financing. This aggressive expansion doubled operating performance but leaves CTRA with minimal financial cushion and higher current liabilities.

Comparing 2026-02-27 vs 2025-02-25View on EDGAR →
FINANCIAL ANALYSIS

CTRA demonstrated strong operational execution with revenue growing 40% to $7.6B and operating income surging 77% to $2.5B, while operating cash flow increased 44% to $4.0B. However, the company's financial position shifted dramatically as cash plummeted 94% to just $114M while current liabilities rose 37%, indicating the $4B acquisition spree was funded through cash depletion and likely debt financing. The 300% increase in dividends paid to $680M, combined with reduced share buybacks, signals a shift toward higher dividend-focused capital returns while maintaining minimal cash buffers.

FINANCIAL STATEMENT CHANGES
Dividends Paid
Cash Flow
+300%
$170.0M→$680.0M

Dividend payments increased 300% — management confidence in sustained cash generation.

Cash & Equivalents
Balance Sheet
-94.4%
$2.0B→$114.0M

Cash declined 94.4% — significant cash burn or deployment; verify adequacy of remaining liquidity runway.

Operating Income
P&L
+76.5%
$1.4B→$2.5B

Operating leverage kicking in — revenue growth outpacing cost growth, a hallmark of scaling businesses.

Share Buybacks
Cash Flow
-69%
$455.0M→$141.0M

Buyback activity reduced 69% — capital being redeployed elsewhere or cash conservation underway.

Net Income
P&L
+53.2%
$1.1B→$1.7B

Net income grew 53.2% — bottom-line growth signals improving overall business health.

Current Assets
Balance Sheet
-44.3%
$3.3B→$1.8B

Current assets declined 44.3% — monitor working capital adequacy and short-term liquidity.

Operating Cash Flow
Cash Flow
+43.9%
$2.8B→$4.0B

Operating cash flow surged 43.9% — exceptional cash generation, highest quality earnings signal.

Revenue
P&L
+40.1%
$5.5B→$7.6B

Strong top-line growth of 40.1% — accelerating demand or successful expansion into new markets.

Current Liabilities
Balance Sheet
+37.1%
$1.1B→$1.6B

Current liabilities surged 37.1% — significant near-term obligations; verify ability to meet short-term debt.

Interest Expense
P&L
-33.6%
$110.0M→$73.0M

Interest expense declined — debt repayment or refinancing at lower rates improving earnings quality.

LANGUAGE CHANGES
NEW — 2026-02-27
PRIOR — 2025-02-25
ADDED
As of February 13, 2026, there were 759,272,715 shares of Common Stock outstanding.
Such Proxy Statement or an amendment to this Annual Report on Form 10-K will be filed no later than 120 days after December 31, 2025.
Waha West Texas Natural Gas Index price as quoted in Platt s Inside FERC.
On January 17, 2025, we completed the acquisition of certain interests in oil and gas properties located in the Delaware Basin in New Mexico from certain privately owned sellers for total cash consideration of $1.5 billion (the Avant assets ).
On January 27, 2025, we completed the acquisition of all of the issued and outstanding equity ownership interests of a group of privately owned oil and gas exploration and production companies with assets and operations in the Delaware Basin of New Mexico (the FME Interests ) for total consideration of $2.5 billion, which included $1.7 billion in cash and the issuance of 28,190,682 shares of our common stock valued at $785 million based on the closing price of our common stock on the closing date.
+7 more — sign up free →
REMOVED
As of February 14, 2025, there were 764,151,477 shares of Common Stock outstanding.
Such forward-looking statements include, but are not limited to, statements regarding future financial and operating performance and results, strategic pursuits and goals, market prices, future hedging and risk management activities, timing and amount of capital expenditures and other statements that are not historical facts contained in this report.
Over the past three years, we have increased our annual base dividend $0.24 per share, or 40 percent, on our common stock to $0.84 per share and have returned over $3.5 billion to stockholders through dividends.
Demonstrating our continued confidence in our business model, in February 2025, our Board of Directors increased our annual base dividend to $0.88 per share.
During 2024, we also repurchased 17 million shares of our common stock for $464 million, at a weighted average share price of $26.35 per share under our current $2.0 billion share repurchase program, and have $1.1 billion available for future repurchases.
+7 more — sign up free →
MORE FINANCIAL SIGNALS
PNRGHIGHPNRG achieved exceptional profitability improvement with net income surging 2,21...
2026-04-16
BNAIHIGHBNAI underwent a dramatic reverse stock split that reduced share count by 86% wh...
2026-04-16
LAKEHIGHLAKE's financial performance deteriorated significantly with operating losses wo...
2026-04-16
NXXTHIGHNextNRG experienced massive financial deterioration with operating losses explod...
2026-04-16
ANALYZE ANY FILING FREE

See what changed in your portfolio's filings

500+ US-listed companies analyzed. Language delta, financial analysis, instant signal scoring.

Try Tracenotes free →