Seven criteria, each scored 0 to 100 on a published scale, weighted into one number.
43/100RyuScore 43 out of 100, Below average
43
Today's price. Only valuation depends on it.
-50%-40%-30%-20%-10%today+10%+20%+30%
Below average. Expand Energy scores higher than 33% of the 1,794 companies Ryufin scores.
Carried by valuation and the balance sheet, held back by return on capital and return on new capital.
Energy median 64 · all companies 57
How the score has moved
At each fiscal year end, from the reports and price of the time
13
46
46
18
39
43
20202022202320242025today
The biggest move was up 33 points from 2020 to 2022, mostly valuation.
Valuation
26% of the score
100median 56
Expand Energy is valued at 6.5x its operating profit, including debt: cheap enough for full points.
60x
50x
35x
25x
18x
12x
8x
6.5x
Full points at 8x or less, none from 60xfull points
Return on capital
18% of the score
0median 34
Over 7 years the business earned -1% a year after tax on the capital it uses.
2%
8%
15%
25%
-1%
None at 2% or less, full points from 25%full points
Return on capital by year
7 years agolatest 7.9%
Return on new capital
16% of the score
0median 49
No operating profit over the period, so nothing was earned to reinvest.
Capital allocation
14% of the score
24median 67
How management spends the money: shares bought back or issued, and whether assets grow faster than the business they serve.
Share countUp 75.1% a year over 6 years: new shares
0
5%
-3%
75%
0 pointsfull points
Assets against salesAssets grew 9.7% a year, sales 6%
59
12%
-2%
3.7%
0 pointsfull points
Cycle position
12% of the score
0median 62
Today's operating margin of 27% is 8.62x its normal 3.1%: near a peak, where margins tend to fall back. Normal is half the 9 year median, half the last four years, so a margin that has held is not taken for a peak.
2x
1.5x
1x
0.7x
8.6x
A trough earns points, a peak costs themfull points
Operating margin by year, against its normal level
10 years agonow 27%
Balance sheet
8% of the score
100median 50
What the debt weighs against the profit that has to carry it.
Whether the reported profit arrives as cash, and whether the accounts show the usual signs of stretching.
Cash against profitOperating cash flow was 2.42x profit over 3 years
100
0.7x
1x
1.3x
2.4x
0 pointsfull points
AccrualsCash ran ahead of profit by 9.8% of assets
100
8%
0%
-8%
-9.8%
0 pointsfull points
How the RyuScore works
Each criterion earns 0 to 100 points on the scale drawn under it, and the RyuScore is their average weighted 26, 18, 16, 14, 12, 8 and 6. Scales bend in the company's favour between their ends, so an ordinary figure is never already near zero. Where a criterion cannot be measured from the filings it is taken out and the remaining weights scale up; a company needs 60% of the weight covered, and always a price, to get a score.
Built from the company's annual and quarterly filings with the SEC and today's share price. Banks, insurers and property trusts are not scored: their debt is their raw material, so these yardsticks mean something else there. Figures as of 2026-06-30, latest annual report FY2025.