EOG Resources (EOG)
Energy · $73.9B market cap · SEC CIK 0000821189
fundamentals score out of 100
Next reports on Nov 4, 2026, after the close, with analysts expecting $4.12 in earnings per share.
The case for EOG
- Cheap on earnings at 10.8×, well under the market's usual 20×.
- 25% of revenue drops through to net profit.
- Revenue growing 18.7% year over year.
- Pays a 2.9% dividend while you wait.
- A PEG of 0.43: a P/E of 10.8× is low for EPS growing 25%.
- Has compounded revenue at 15.4% a year over five years.
The case against
- Weakest against its peers: price/sales of 2.7× is higher than 65% of Energy companies.
What the score is made of
Each factor is half a curve over reported figures and half a rank among the other Energy companies (momentum is judged against fixed thresholds only), and the five are blended by weight. It describes the last filing and the current price. It is not a forecast.
| Valuewhat you pay for the earnings, sales, assets and cash | 74 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 72 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 86 |
| Momentumhow the price has behaved lately | 71 |
| Stabilityhow violently it moves, what it owes and what it pays you | 83 |
- Each factor except momentum is half fixed thresholds, half rank among the 21 Energy companies.
Key numbers
| Price / earnings | 10.8× |
|---|---|
| Price / book | 2.17× |
| Price / sales | 2.7× |
| Revenue growth (YoY) | +18.7% |
| EPS growth (YoY) | +24.8% |
| Gross margin | 79% |
| Operating margin | 33% |
| Net margin | 25% |
| Return on equity | 22% |
| Debt / equity | 0.25× |
| Current ratio | 1.85 |
| Dividend yield | 2.95% |
| Beta | 0.32 |
| 52-week range | $101.59 – $154.16 |
| Position in that range | 72% of the way up |
| 3-month return | +8.8% |
| 1-year return | +21.9% |
Five years of financials, as filed
Pulled from EOG Resources's XBRL filings on SEC EDGAR. Italic rows are derived from the rows above.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $22.6B | $23.7B | $24.2B | $25.7B | $18.6B |
| Operating income | $6.4B | $8.1B | $9.6B | $10.0B | $6.1B |
| Net income | $5.0B | $6.4B | $7.6B | $7.8B | $4.7B |
| Operating cash flow | $10.0B | $12.1B | $11.3B | $11.1B | $8.8B |
| Total assets | $51.8B | $47.2B | $43.9B | $41.4B | $38.2B |
| Shareholder equity | $29.8B | $29.4B | $28.1B | $24.8B | $22.2B |
| Cash | $3.4B | $7.1B | $5.3B | $6.0B | $5.2B |
| Long-term debt | $7.9B | $4.2B | $3.8B | $3.8B | $5.1B |
| Operating margin | 28.2% | 34.1% | 39.7% | 38.8% | 32.7% |
| Net margin | 22.0% | 27.0% | 31.4% | 30.2% | 25.0% |
| Diluted shares | 546M | 569M | 584M | 587M | 584M |
Share count is down 6.5% over 4 years. Buybacks have been shrinking the pie.
What EOG Resources says it does
EOG Resources, Inc., a Delaware corporation organized in 1985, together with its subsidiaries (collectively, EOG), explores for, develops, produces and markets crude oil, natural gas liquids (NGLs) and natural gas primarily in major producing basins in the United States of America (United States or U.S.), the Republic of Trinidad and Tobago (Trinidad) and, from time to time, select other international areas, including the Kingdom of Bahrain and the United Arab Emirates. EOG's principal producing areas are further described in "Exploration and Production" below. EOG's Annual Reports on Form 10-K, Quarterly Reports on Form 10‑Q, Current Reports on Form 8-K and any amendments to those reports (including related exhibits and supplemental schedules) filed or furnished pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934 (as amended) are made available, free of charge, through EOG's website, as soon as reasonably…
Risk factors EOG lists in its 10-K
- Comparison of Five-Year Cumulative Total Returns
- Management's Discussion and Analysis of Financial Condition and Results of Operations
- Financial Commodity and Other Derivative Transactions
- Natural Gas Financial Price Swap Contracts
- Weighted Average Price Differential ($/MMBtu)
- Ethane Financial Price Swap Contracts
- Butane Financial Price Swap Contracts
- Propane Financial Price Swap Contracts
- Natural Gas Sales Linked to Brent Crude Oil
- Summary of Critical Accounting Policies and Estimates
- Depreciation, Depletion and Amortization for Oil and Gas Properties
- Information Regarding Forward-Looking Statements
- Quantitative and Qualitative Disclosures About Market Risk
- Financial Statements and Supplementary Data