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EOG Resources

EOG NYSE Oil & Gas Exploration & Production Financials FY2016–FY2025

EOG Resources' revenue fell 4.5% to $22.6 billion in fiscal 2025. Its operating margin was 28.2%, down from 34.1% a year earlier. It paid out $4.7 billion in dividends and buybacks. The diluted share count fell 4.0%.

Last close · Oct 23, 2026

$163.03

3.2%
Value it Compare
Revenue Total sales reported in the income statement.
$22.6B
4.5% vs prior year
Operating margin Operating income as a share of revenue.
28.2%
5.9 pts
Net income Profit after all expenses, interest and tax.
$5.0B
22.2%
Free cash flow Cash from operations minus capital spending.
—
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
16.2%
7.1 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$86.2B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
12.7x
On $12.86 EPS (TTM)

About these figures. EOG reports its capital spending in two lines (oil and gas properties, and other property and equipment) with no total in the SEC's structured data, so capital spending and free cash flow are left blank.

What EOG Resources does

No business description yet.

Legal name
EOG RESOURCES, INC.
Fiscal year ends
December 31, 2025
Latest annual report
—
Accession · CIK
0000821189-26-000054
0000821189

Revenue and margins

EOG Resources had $22.6B of revenue in fiscal 2025, down 4.5% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was — in fiscal 2025, — of revenue. Cash from operations minus capital spending.

Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

EOG Resources returned $4.7B to shareholders in fiscal 2025. The diluted share count fell 4.0%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value EOG Resources yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$4.7B and divides by 546.0M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 12.7x · peers 12.2x · sector 17.4x.

Balance sheet

Cash, debt and the ratios that show how comfortably EOG Resources can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $5.2B$6.0B$5.3B$7.1B$3.4B
Debt incl. finance leases $5.4B$5.3B$4.0B$4.9B$8.1B
Net debt / EBITDA 0.0x−0.1x−0.1x−0.2x0.4x
Debt / equity 0.2x0.2x0.1x0.2x0.3x
Interest coverage 34.3x55.7x64.9x58.6x27.2x
Current ratio 2.1x1.9x2.4x2.1x1.6x
Quick ratio 2.0x1.7x2.1x1.9x1.4x
Total assets $38.2B$41.4B$43.9B$47.2B$51.8B
Total liabilities $16.1B$16.6B$15.8B$17.8B$22.0B
Shareholders' equity $22.2B$24.8B$28.1B$29.4B$29.8B
Net debt (− = net cash) $150M−$679M−$1.3B−$2.2B$4.7B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$10.8M

5 insiders

Of sales under plans

20%

$2.2M

DateInsiderTradeSharesPriceValueFiling
Sep 25, 2026 Jeffrey R. LeitzellEVP & COO Sold plan 9,039 $140.61 $1.3M Form 4
Sep 11, 2026 Michael P DonaldsonEVP & Chief Legal Officer Sold 7,336 $148.00 $1.1M Form 4
Aug 24, 2026 Ezra Y YacobChairman & CEO, Director Sold 35,942 $152.10 $5.5M Form 4
May 28, 2026 Charles R CrispDirector Sold 1,887 $136.17 $0.3M Form 4
Mar 31, 2026 Jeffrey R. LeitzellEVP & COO Sold 5,698 $150.32 $0.9M Form 4
Mar 19, 2026 Ann D. JanssenEVP & Chief Financial Officer Sold 4,161 $140.04 $0.6M Form 4
Mar 12, 2026 Ann D. JanssenEVP & Chief Financial Officer Sold 2,597 $134.32 $0.3M Form 4
Mar 3, 2026 Jeffrey R. LeitzellEVP & COO Sold plan 2,000 $130.00 $0.3M Form 4
Mar 2, 2026 Jeffrey R. LeitzellEVP & COO Sold plan 1,774 $126.57 $0.2M Form 4
Feb 19, 2026 Jeffrey R. LeitzellEVP & COO Sold plan 2,000 $125.00 $0.3M Form 4
Dec 31, 2025 Jeffrey R. LeitzellEVP & COO Sold plan 2,000 $105.68 $0.2M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✕ ✕ ✕
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✓ ✕ ✕
Current ratio rose ✓ ✕ ✕
Share count didn't rise ✓ ✓ ✓
Gross margin rose — — —
Revenue rose relative to assets ✕ ✕ ✕
F-score 6 / 84 / 84 / 8
Accruals ratio −8.8%−12.6%−10.2%
Altman Z'' 5.905.564.50

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
EOG Resources EOG $86.2B −4.5% 28.2% — 16.2% 12.7x 4
Occidental Petroleum OXY $65.0B −1.9% — 19.0% 4.9% 9.9x 4 Compare →
Devon Energy DVN $48.3B 7.8% — 18.2% 13.0% 12.2x 5 Compare →
Diamondback Energy FANG $57.9B 35.8% 8.4% — 1.9% 39.1x 4 Compare →
Woodside Energy WDS $45.3B −1.5% 30.0% — 7.1% — 4 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $7.7B $11.2B $17.3B $17.4B $11.0B $18.6B $25.7B $24.2B $23.7B $22.6B
Operating income −$1.2B $926M $4.5B $3.7B −$544M $6.1B $10.0B $9.6B $8.1B $6.4B
Interest expense $282M $274M $245M $185M $205M $178M $179M $148M $138M $235M
Pretax income −$1.6B $661M $4.2B $3.5B −$739M $5.9B $9.9B $9.7B $8.2B $6.4B
Income tax −$461M −$1.9B $822M $810M −$134M $1.3B $2.1B $2.1B $1.8B $1.4B
Net income −$1.1B $2.6B $3.4B $2.7B −$605M $4.7B $7.8B $7.6B $6.4B $5.0B
Diluted EPS −$1.98 $4.46 $5.89 $4.71 −$1.04 $7.99 $13.22 $13.00 $11.25 $9.12
Diluted shares 0.55B 0.58B 0.58B 0.58B 0.58B 0.58B 0.59B 0.58B 0.57B 0.55B
Cash flow
Cash from operations $2.4B $4.3B $7.8B $8.2B $5.0B $8.8B $11.1B $11.3B $12.1B $10.0B
Depreciation and amortization $3.6B $3.4B $3.4B $3.8B $3.4B $3.7B $3.5B $3.5B $4.1B $4.5B
Stock-based compensation $128M $134M $155M $175M $146M $152M $133M $177M $199M $216M
Acquisitions $54.5M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $4.5B
Share buybacks $82.1M $63.4M $63.5M $25.0M $16.0M $41.0M $118M $1.0B $3.2B $2.6B
Dividends paid $373M $387M $438M $588M $821M $2.7B $5.1B $3.4B $2.1B $2.2B
Dividends and buybacks $455M $450M $502M $613M $837M $2.7B $5.3B $4.4B $5.3B $4.7B
Balance sheet
Cash and short-term investments $1.6B $834M $1.6B $2.0B $3.3B $5.2B $6.0B $5.3B $7.1B $3.4B
Total debt $7.0B $6.4B $6.1B $5.2B $5.8B $5.1B $5.1B $3.8B $4.8B $7.9B
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $212M $250M $215M $183M $150M $117M
Current assets $3.4B $3.3B $5.1B $5.3B $5.9B $8.6B $10.5B $9.9B $11.2B $7.7B
Current liabilities $2.0B $2.7B $3.7B $4.5B $3.5B $4.0B $5.5B $4.1B $5.4B $4.7B
Inventory $350M $484M $859M $767M $629M $584M $1.1B $1.3B $985M $1.0B
Property and equipment, net $25.7B $25.7B $28.1B $30.4B $28.6B $28.4B $29.4B $32.3B $34.2B $42.3B
Total assets $29.3B $29.8B $33.9B $37.1B $35.8B $38.2B $41.4B $43.9B $47.2B $51.8B
Total liabilities $15.3B $13.5B $14.6B $15.5B $15.5B $16.1B $16.6B $15.8B $17.8B $22.0B
Shareholders' equity $14.0B $16.3B $19.4B $21.6B $20.3B $22.2B $24.8B $28.1B $29.4B $29.8B
Margins
Operating margin −16.0% 8.3% 25.9% 21.3% −4.9% 32.7% 38.8% 39.7% 34.1% 28.2%
EBITDA margin 30.4% 38.7% 45.8% 42.9% 25.9% 52.3% 52.6% 54.1% 51.4% 47.9%
Net margin −14.3% 23.0% 19.8% 15.7% −5.5% 25.0% 30.2% 31.4% 27.0% 22.0%
Returns
Return on capital −5.1% 4.5% 15.8% 11.7% −1.8% 21.2% 33.6% 29.6% 23.3% 16.2%
Return on capital employed −4.7% 3.4% 15.6% 11.8% −1.7% 18.3% 28.5% 25.4% 19.8% 14.4%
Return on equity −8.2% 17.1% 19.2% 13.3% −2.9% 22.0% 33.1% 28.7% 22.3% 16.8%
Return on assets −3.9% 8.7% 10.7% 7.7% −1.7% 12.6% 19.5% 17.8% 14.1% 10.1%
Growth
Revenue growth −12.6% 46.5% 54.1% 0.6% −36.5% 69.0% 37.9% −5.9% −2.0% −4.5%
Net income growth — — 32.4% −20.0% −122.1% — 66.4% −2.1% −15.7% −22.2%
EPS growth — — 32.1% −20.0% −122.1% — 65.5% −1.7% −13.5% −18.9%
Share count change 1.4% 4.6% 0.3% 0.1% −0.3% 0.9% 0.5% −0.5% −2.6% −4.0%
Financial health
Net debt / EBITDA 2.3x 1.3x 0.6x 0.4x 1.0x 0.0x −0.1x −0.1x −0.2x 0.4x
Debt / equity 0.5x 0.4x 0.3x 0.2x 0.3x 0.2x 0.2x 0.1x 0.2x 0.3x
Interest coverage −4.4x 3.4x 18.2x 20.0x −2.7x 34.3x 55.7x 64.9x 58.6x 27.2x
Current ratio 1.7x 1.2x 1.4x 1.2x 1.7x 2.1x 1.9x 2.4x 2.1x 1.6x
Quick ratio 1.5x 1.0x 1.1x 1.0x 1.5x 2.0x 1.7x 2.1x 1.9x 1.4x
Capital allocation
Stock comp / revenue 1.7% 1.2% 0.9% 1.0% 1.3% 0.8% 0.5% 0.7% 0.8% 1.0%
Quality scores
Piotroski F-score 5.0 6.0 7.0 4.0 4.0 7.0 6.0 6.0 4.0 4.0
Altman Z'' 1.9 2.8 3.8 3.7 3.0 4.7 5.4 5.9 5.6 4.5
Accruals ratio −12.3% −5.7% −13.6% −15.3% −15.4% −11.2% −8.4% −8.8% −12.6% −10.2%

Source: SEC EDGAR XBRL filings (CIK 0000821189). Data updated October 9, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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