Filing Flows › Energy › Ridgewood Energy S Fund LLC
Ridgewood Energy S Fund LLC earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 3, 2026
Q3 2026 Revenue up 51% year over year to $518K · 35¢ of every $1 of revenue kept as net profit · operating margin 30.9%
Ridgewood Energy S Fund LLC made $518K in Q3 2026 (+51% Y/Y). Operating margin 30.9%, net earnings $181K. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 3, 2026.
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What changed this quarter
Revenue was $518K in Q3 2026, up 51% year over year and down 3% from the previous quarter.
Operating profit was $160K, a 30.9% margin (up 27.1 points year over year). Of the extra revenue versus Q3 2025, 84% reached operating profit, above the 4% margin then. Total costs grew 8% against revenue growth of 51%. Net earnings were $181K, up 389% year over year. The effective tax rate was 0.0%.
Operating cash flow was $227K (up 11% year over year), 125% of net earnings. Working capital and other items added $46K. Capital expenditures of $268K exceeded it, leaving free cash flow of −$41K.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 3, 2026 | $518K | +51% | 30.9% | $181K | $227K |
| Q2 2026 | 10-Q | Aug 6, 2026 | $532K | +27% | 43.8% | $257K | $504K |
| Q1 2026 | 10-Q | May 5, 2026 | $271K | -42% | 17.3% | $73K | $38K |
| Q4 2025 | 10-K | Feb 26, 2026 | $284K | -42% | -14.4% | −$12K | $228K |
| Q3 2025 | 10-Q | Nov 4, 2025 | $343K | -38% | 3.8% | $37K | $204K |
| Q2 2025 | 10-Q | Aug 7, 2025 | $418K | -39% | 13.2% | $77K | $323K |
| Q1 2025 | 10-Q | May 5, 2025 | $467K | -14% | 21.2% | $121K | $357K |
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About Ridgewood Energy S Fund LLC
The Ridgewood Energy S Fund, LLC (the “Fund”), a Delaware limited liability company, was formed on December 19, 2005 and operates pursuant to a limited liability company agreement (the “LLC Agreement”) dated as of February 1, 2006 by and among Ridgewood Energy Corporation (the “Manager”) and the shareholders of the Fund, which addresses matters such as the authority and voting rights of the Manager and shareholders, capitalization, transferability of membership interests, participation in costs and revenues, distribution of assets and dissolution and winding up. The Fund was organized to primarily acquire interests in oil and gas properties located in the United States offshore waters of Texas, Louisiana and Alabama in the Gulf of America.
In its own words, from its 10-Q, filed May 5, 2026.
Ridgewood Energy S Fund LLC against its Oil & Gas Field Exploration Services peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +51% against the peers' median +52%. Operating margin: 30.9% against the peers' median 33.3%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| Ridgewood Energy S Fund LLC | Q3 2026 | $518K | +51% | 30.9% |
| DWSN Dawson Geophysical | Q2 2026 | $17.9M | +82% | -16.9% |
| Ridgewood Energy O Fund LLC | Q3 2026 | $1.8M | +56% | 42.0% |
| Ridgewood Energy y Fund LLC | Q3 2026 | $1.6M | +57% | 46.0% |
| Ridgewood Energy X Fund, LLC | Q3 2026 | $943K | +60% | 45.6% |
| Ridgewood Energy W Fund LLC | Q3 2026 | $889K | +52% | 29.0% |
| Ridgewood Energy Q Fund LLC | Q3 2026 | $698K | +52% | 39.4% |
| Ridgewood Energy V Fund LLC | Q3 2026 | $574K | +51% | 33.3% |
| Ridgewood Energy T Fund LLC | Q3 2026 | $487K | +51% | 31.2% |
Source: Ridgewood Energy S Fund LLC 10-Q on SEC EDGAR · CIK 1352190 · Oil & Gas Field Exploration Services