Kosmos Energy
KOS on NYSE. Kosmos Energy sells oil and gas to buyers worldwide. Market value $1.5bn.
Price checks use the past 12 months to June 2026. Some use the latest annual report instead, as marked. Quality checks use five annual reports, the latest for the year to December 2025.
Cash flow or capital spending isn't reported, so free cash flow is unknown.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Energy stocks that passed both tests
This is not advice. Check the numbers below.
We could not compute this from the filings.
The filings do not give us enough to work this out.
The filings do not give us enough to work this out.
Quality score: 55 of 100. Price score: not known. Our list needs 70 on quality and 60 on price.
$2.60 a share, 210% above its 1-year low
Over the past year the price has ranged from $0.84 to $3.34.
Pays no dividend
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $1.3bn | $2.2bn | $1.7bn | $1.7bn | $1.3bn |
| Operating margin | |||||
| Operating margin | n/a | n/a | n/a | n/a | n/a |
| Debt to equity | |||||
| Debt to equity | 4.95 | 2.83 | 2.32 | 2.29 | 5.78 |
| Shares outstanding | |||||
| Shares outstanding | 0.46bn | 0.46bn | 0.47bn | 0.48bn | 0.60bn |
Health checks
- Free cash flow positive3 of 4 years
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)2 of 7 checks we could run
- Profit backed by cash (accruals)No
- Debt5.78× equity
- Revenue growth, five yearsSlow, 9.9% a year
- Buying back its own sharesNo, 31% more shares since 2021
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $607 million last quarter, up 55% on a year ago.
- Profit: $185 million, after a loss of $88 million a year ago.
- 26% more shares than a year ago. Each share owns a bit less of the company.
- Debt is $2.6 billion more than cash, down from $2.8 billion a year ago.
- Sales grew on a year ago in 2 of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $408m |
| December 2024 | $398m |
| March 2025 | $290m |
| June 2025 | $393m |
| September 2025 | $311m |
| December 2025 | $295m |
| March 2026 | $371m |
| June 2026 | $607m |
| Quarter to | Amount |
|---|---|
| September 2024 | $45m |
| December 2024 | -$7m |
| March 2025 | -$111m |
| June 2025 | -$88m |
| September 2025 | -$124m |
| December 2025 | -$377m |
| March 2026 | -$226m |
| June 2026 | $185m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 2 March 2026
- Next quarterly (estimated, 10-Q)
- 2 November 2026
Who owns it
4 long-term investors we follow own it, unchanged from 4 last quarter. 267 funds in all.
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Hotchkis & WileyHotchkis & Wiley team | $40m | 0.1% | Cut |
| GMOJeremy Grantham | $25m | <0.1% | Cut |
| Boston PartnersBoston Partners team | $9m | <0.1% | Cut |
| Gotham Asset ManagementJoel Greenblatt | $3m | <0.1% | Added |
Largest holders overall
- BlackRock$118mAdded
- State Street$62mAdded
- TWO Sigma Investments, LP$54mAdded
- D. E. Shaw$52mAdded
- Equinox Partners Investment Management$44m
- Hotchkis & Wiley$40mCut
- Geode Capital Management$36mAdded
- Charles Schwab Investment Management$29mCut
- Vanguard Portfolio Management$25mAdded
- GMO$25mCut
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
3 investors own more than 5%.
- BlackRock, Inc.Passive investor8.1%+1.4 ptsSince 30 June 2026
- cobas asset management, sgiic, s.a.Passive investor5.2%Since 10 April 2025
- American Century Investment Management, Inc.Passive investorat least 2.4%−4.6 pts(filed with 2 related holders)Since 31 December 2025
- Hotchkis & WileyPassive investorSold down below 5%Since 30 June 2025
- GMOPassive investorSold down below 5%Since 31 March 2026
- BlackRock Portfolio Management LLCPassive investorSold down below 5%Since 31 December 2025
- Vaughan Nelson Investment Management, Inc.Passive investorSold down below 5%Since 31 March 2025
| Holder | Stake | Since | |
|---|---|---|---|
BlackRock, Inc. Passive investor | 8.1%+1.4 pts | 30 June 2026 | |
cobas asset management, sgiic, s.a. Passive investor | 5.2% | 10 April 2025 | |
American Century Investment Management, Inc. Passive investor | at least 2.4%−4.6 pts (filed with 2 related holders) | 31 December 2025 | |
Hotchkis & Wiley Passive investor | Sold down below 5% | 30 June 2025 | |
GMO Passive investor | Sold down below 5% | 31 March 2026 | |
BlackRock Portfolio Management LLC Passive investor | Sold down below 5% | 31 December 2025 | |
Vaughan Nelson Investment Management, Inc. Passive investor | Sold down below 5% | 31 March 2025 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
In the last 12 months, 4 insiders bought $7m of shares on the open market. 7 sold $1m, $724,067 of it under preset trading plans.
- Marion Josh R.SVP and General CounselSoldunder a preset trading plan
- Date
- 2 July 2026
- Shares
- 24,969
- Price
- $2.05
- Value
- $51,186
- Shah Nealesh D.SVP and CFOSoldunder a preset trading plan
- Date
- 2 July 2026
- Shares
- 45,980
- Price
- $2.05
- Value
- $94,259
- Glass Ronald W.VP & Chief Accounting OfficerSoldunder a preset trading plan
- Date
- 2 July 2026
- Shares
- 12,128
- Price
- $2.05
- Value
- $24,862
- INGLIS ANDREW GChairman and CEO, DirectorSoldunder a preset trading plan
- Date
- 2 July 2026
- Shares
- 85,935
- Price
- $2.05
- Value
- $176,167
- Franklin Roy A.DirectorSold
- Date
- 28 May 2026
- Shares
- 43,466
- Price
- $2.73
- Value
- $118,662
- Grant John Douglas KelsoDirectorSold
- Date
- 27 May 2026
- Shares
- 43,466
- Price
- $2.73
- Value
- $118,662
- Sterin StevenDirectorSold
- Date
- 27 May 2026
- Shares
- 38,636
- Price
- $2.73
- Value
- $105,476
- Ogunlesi Adebayo O.DirectorBought
- Date
- 10 March 2026
- Shares
- 3,157,895
- Price
- $1.90
- Value
- $6m
- STICE J MICHAELDirectorBought
- Date
- 10 March 2026
- Shares
- 52,631
- Price
- $1.90
- Value
- $99,999
- Shah Nealesh D.SVP and CFOBought
- Date
- 10 March 2026
- Shares
- 157,894
- Price
- $1.90
- Value
- $299,999
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 2 July 2026 | Marion Josh R. SVP and General Counsel | Sold under a preset trading plan | 24,969 | $2.05 | $51,186 |
| 2 July 2026 | Shah Nealesh D. SVP and CFO | Sold under a preset trading plan | 45,980 | $2.05 | $94,259 |
| 2 July 2026 | Glass Ronald W. VP & Chief Accounting Officer | Sold under a preset trading plan | 12,128 | $2.05 | $24,862 |
| 2 July 2026 | INGLIS ANDREW G Chairman and CEO, Director | Sold under a preset trading plan | 85,935 | $2.05 | $176,167 |
| 28 May 2026 | Franklin Roy A. Director | Sold | 43,466 | $2.73 | $118,662 |
| 27 May 2026 | Grant John Douglas Kelso Director | Sold | 43,466 | $2.73 | $118,662 |
| 27 May 2026 | Sterin Steven Director | Sold | 38,636 | $2.73 | $105,476 |
| 10 March 2026 | Ogunlesi Adebayo O. Director | Bought | 3,157,895 | $1.90 | $6m |
| 10 March 2026 | STICE J MICHAEL Director | Bought | 52,631 | $1.90 | $99,999 |
| 10 March 2026 | Shah Nealesh D. SVP and CFO | Bought | 157,894 | $1.90 | $299,999 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the warning signs we check for were found.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 2 Mar 2026, plus the 10-Q filed 3 Aug 2026 and 7 later 8-Ks.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
- It carries a lot of debt: 5.8× its equity.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.