IMPP vs. RCAT

Last updated Apr 1, 2026

Compare and contrast key facts about Imperial Petroleum Inc. (IMPP) and Red Cat Holdings, Inc. (RCAT).

Performance

IMPP vs. RCAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Imperial Petroleum Inc. (IMPP) and Red Cat Holdings, Inc. (RCAT). The values are adjusted to include any dividend payments, if applicable.

IMPP vs. RCAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
IMPP Imperial Petroleum Inc.	18.23%	20.27%	14.02%	-15.38%	-88.73%	-54.85%
RCAT Red Cat Holdings, Inc.	65.07%	-38.29%	1,360.23%	-6.38%	-54.81%	2.97%

Fundamentals

Market Cap IMPP : $175.93M RCAT : $1.56B
EPS IMPP : $1.33 RCAT : -$0.71
PS Ratio IMPP : 1.00 RCAT : 32.62
PB Ratio IMPP : 0.33 RCAT : 6.36
Total Revenue (TTM) IMPP : $161.00M RCAT : $40.73M
Gross Profit (TTM) IMPP : $46.21M RCAT : $1.28M
EBITDA (TTM) IMPP : $74.45M RCAT : -$60.91M

Returns By Period

In the year-to-date period, IMPP achieves a 18.23% return, which is significantly lower than RCAT's 65.07% return.

IMPP

• 1D: -2.73%
• 1M: 0.71%
• YTD: 18.23%
• 6M: -10.46%
• 1Y: 74.69%
• 3Y*: 19.55%
• 5Y*: —
• 10Y*: —

RCAT

• 1D: 12.94%
• 1M: 12.36%
• YTD: 65.07%
• 6M: 26.47%
• 1Y: 122.62%
• 3Y*: 132.61%
• 5Y*: 25.14%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

IMPP vs. RCAT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IMPP

IMPP Risk / Return Rank: 75
IMPP Sharpe Ratio Rank: 80
IMPP Sortino Ratio Rank: 77
IMPP Omega Ratio Rank: 76
IMPP Calmar Ratio Rank: 71
IMPP Martin Ratio Rank: 69

RCAT

RCAT Risk / Return Rank: 77
RCAT Sharpe Ratio Rank: 76
RCAT Sortino Ratio Rank: 80
RCAT Omega Ratio Rank: 74
RCAT Calmar Ratio Rank: 78
RCAT Martin Ratio Rank: 75

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IMPP vs. RCAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Imperial Petroleum Inc. (IMPP) and Red Cat Holdings, Inc. (RCAT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	IMPP	RCAT	Difference
Sharpe ratio Return per unit of total volatility	1.23	1.03	+0.20
Sortino ratio Return per unit of downside risk	1.92	2.03	-0.11
Omega ratio Gain probability vs. loss probability	1.25	1.23	+0.02
Calmar ratio Return relative to maximum drawdown	1.47	2.03	-0.56
Martin ratio Return relative to average drawdown	3.25	4.43	-1.18
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IMPP vs. RCAT - Sharpe Ratio Comparison

The current IMPP Sharpe Ratio is 1.23, which is comparable to the RCAT Sharpe Ratio of 1.03. The chart below compares the historical Sharpe Ratios of IMPP and RCAT, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	IMPP	RCAT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.23	1.03	+0.20
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.22	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.34	-0.06	-0.29

Correlation

The correlation between IMPP and RCAT is 0.12, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

IMPP vs. RCAT - Dividend Comparison

Neither IMPP nor RCAT has paid dividends to shareholders.

	TTM	2025	2024	2023
IMPP Imperial Petroleum Inc.	0.00%	0.00%	0.00%	22.63%
RCAT Red Cat Holdings, Inc.	0.00%	0.00%	0.00%	0.00%

Drawdowns

IMPP vs. RCAT - Drawdown Comparison

The maximum IMPP drawdown since its inception was -98.75%, roughly equal to the maximum RCAT drawdown of -99.76%. Use the drawdown chart below to compare losses from any high point for IMPP and RCAT.

Drawdown Indicators

	IMPP	RCAT	Difference
Max Drawdown Largest peak-to-trough decline	-98.75%	-99.76%	+1.01%
Max Drawdown (1Y) Largest decline over 1 year	-49.29%	-60.08%	+10.79%
Max Drawdown (5Y) Largest decline over 5 years	—	-92.25%	—
Current Drawdown Current decline from peak	-95.59%	-92.15%	-3.44%
Average Drawdown Average peak-to-trough decline	-93.65%	-95.58%	+1.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	22.36%	27.61%	-5.25%

Volatility

IMPP vs. RCAT - Volatility Comparison

The current volatility for Imperial Petroleum Inc. (IMPP) is 17.80%, while Red Cat Holdings, Inc. (RCAT) has a volatility of 37.54%. This indicates that IMPP experiences smaller price fluctuations and is considered to be less risky than RCAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IMPP	RCAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.80%	37.54%	-19.74%
Volatility (6M) Calculated over the trailing 6-month period	51.77%	84.17%	-32.40%
Volatility (1Y) Calculated over the trailing 1-year period	61.12%	120.21%	-59.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	134.78%	114.24%	+20.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	134.78%	251.41%	-116.63%

Financials

IMPP vs. RCAT - Profitability Comparison

The chart below illustrates the profitability comparison between Imperial Petroleum Inc. and Red Cat Holdings, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

IMPP - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Imperial Petroleum Inc. reported a gross profit of 15.57M and revenue of 51.14M. Therefore, the gross margin over that period was 30.4%.

RCAT - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Red Cat Holdings, Inc. reported a gross profit of 1.11M and revenue of 26.24M. Therefore, the gross margin over that period was 4.2%.

IMPP - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Imperial Petroleum Inc. reported an operating income of 13.65M and revenue of 51.14M, resulting in an operating margin of 26.7%.

RCAT - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Red Cat Holdings, Inc. reported an operating income of -19.91M and revenue of 26.24M, resulting in an operating margin of -75.9%.

IMPP - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Imperial Petroleum Inc. reported a net income of 14.96M and revenue of 51.14M, resulting in a net margin of 29.3%.

RCAT - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Red Cat Holdings, Inc. reported a net income of -19.66M and revenue of 26.24M, resulting in a net margin of -74.9%.