EOG Resources vs Occidental Petroleum
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The short version
- EOG Resources is the larger business, with $22.6B of revenue in fiscal 2025 against $21.6B for Occidental Petroleum.
- Occidental Petroleum grew revenue faster (−1.9%, against −4.5%).
- EOG Resources earned a higher return on the capital invested in it (16.2%, against 4.9%).
- Investors pay more for each dollar of EOG Resources’s earnings: a P/E of 12.7x against 9.9x for Occidental Petroleum.
| Latest fiscal year | EOG · FY25 | OXY · FY25 |
|---|---|---|
| Size | ||
| Market cap | $86.2B | $65.0B |
| Revenue | $22.6B | $21.6B |
| Free cash flow | — | $4.1B |
| Net income | $5.0B | $2.4B |
| Growth | ||
| Revenue growth | −4.5% | −1.9% |
| 5-year growth | 15.5% | 3.9% |
| Share count change | −4.0% | 3.4% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | 28.2% | — |
| Net margin | 22.0% | 11.0% |
| FCF margin | — | 19.0% |
| Return on capital | 16.2% | 4.9% |
| Return on equity | 16.8% | 6.7% |
| Balance sheet | ||
| Net debt | $4.7B | $20.4B |
| Net debt / EBITDA | 0.4x | 1.7x |
| Dividends and buybacks | $4.7B | $1.6B |
| Valuation & quality | ||
| P/E | 12.7x | 9.9x |
| Piotroski F-score | 4 | 4 |
Revenue
FY16
EOG $7.7B
OXY $10.1B
FY17
EOG $11.2B
OXY $12.5B
FY18
EOG $17.3B
OXY $17.8B
FY19
EOG $17.4B
OXY $20.9B
FY20
EOG $11.0B
OXY $17.8B
FY21
EOG $18.6B
OXY $26.0B
FY22
EOG $25.7B
OXY $36.6B
FY23
EOG $24.2B
OXY $23.2B
FY24
EOG $23.7B
OXY $22.0B
FY25
EOG $22.6B
OXY $21.6B
EOG
OXY
Operating margin
FY16
EOG −16.0%
OXY —
FY17
EOG 8.3%
OXY —
FY18
EOG 25.9%
OXY —
FY19
EOG 21.3%
OXY —
FY20
EOG −4.9%
OXY —
FY21
EOG 32.7%
OXY —
FY22
EOG 38.8%
OXY —
FY23
EOG 39.7%
OXY —
FY24
EOG 34.1%
OXY —
FY25
EOG 28.2%
OXY —
EOG
OXY
Free cash flow
FY16
EOG —
OXY $667M
FY17
EOG —
OXY $1.3B
FY18
EOG —
OXY $2.7B
FY19
EOG —
OXY $1.0B
FY20
EOG —
OXY $1.4B
FY21
EOG —
OXY $7.6B
FY22
EOG —
OXY $12.3B
FY23
EOG —
OXY $6.6B
FY24
EOG —
OXY $5.2B
FY25
EOG —
OXY $4.1B
EOG
OXY
Return on capital
FY16
EOG −5.1%
OXY —
FY17
EOG 4.5%
OXY —
FY18
EOG 15.8%
OXY 15.4%
FY19
EOG 11.7%
OXY 1.4%
FY20
EOG −1.8%
OXY −18.4%
FY21
EOG 21.2%
OXY 8.0%
FY22
EOG 33.6%
OXY 29.7%
FY23
EOG 29.6%
OXY 8.2%
FY24
EOG 23.3%
OXY 6.9%
FY25
EOG 16.2%
OXY 4.9%
EOG
OXY
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.