EOG Resources vs Diamondback Energy
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KIRAβs take AI analyst
I put EOG Resources and Diamondback Energy side by side, using each oneβs latest annual report. Here is what stands out:
- EOG Resources is the larger business, with $22.6B of revenue in fiscal 2025 against $15.0B for Diamondback Energy, about 1.5 times as much.
- Diamondback Energy grew revenue faster (35.8%, against β4.5%).
- EOG Resources kept more of each dollar of sales as operating profit (28.2% operating margin, against 8.4%).
- EOG Resources earned a higher return on the capital invested in it (16.2%, against 1.9%).
- Investors pay more for each dollar of Diamondback Energyβs earnings: a P/E of 39.4x against 12.7x for EOG Resources.
Who comes out ahead
Of the 9 measures where higher (or lower) is clearly better, how many each company leads.
EOG Resources
EOG
6/9
Operating marginNet marginReturn on capitalReturn on equityNet debt / EBITDAShare count change
Diamondback Energy
FANG
2/9
Revenue growth5-year growth
Side by side
Best in the row
| Latest fiscal year | EOG FY25 | FANG FY25 |
|---|---|---|
| Size | ||
| Market cap | $86.6B | $58.2B |
| Revenue | $22.6B | $15.0B |
| Free cash flow | β | β |
| Net income | $5.0B | $1.7B |
| Growth | ||
| Revenue growth | β4.5% | 35.8% |
| 5-year growth | 15.5% | 39.8% |
| Share count change | β4.0% | 35.4% |
| Profitability | ||
| Gross margin | β | β |
| Operating margin | 28.2% | 8.4% |
| Net margin | 22.0% | 11.1% |
| FCF margin | β | β |
| Return on capital | 16.2% | 1.9% |
| Return on equity | 16.8% | 4.5% |
| Balance sheet | ||
| Net debt | $4.7B | $14.4B |
| Net debt / EBITDA | 0.4x | 2.3x |
| Dividends and buybacks | $4.7B | $1.2B |
| Valuation & quality | ||
| P/E | 12.7x | 39.4x |
| Piotroski F-score | 4 | 4 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.