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EOG Resources, Inc. USD

At a glance: strengths & risks
✓Low leverage (0.5x EBITDA)✓Commodity price +9% vs 1-yr · +5% vs 3-yr✗Profit falling (-22%)✗Margins compressing (51%→48%)✗Priced above model value

Sector: United States — oil & gas exploration & production

Geography: United States

US_EP_EOG

Price chart

139.64 USDDay -0.48%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
139.64 USD · -0.48%
Market cap
74.3 bn USD

Growth

Δ revenue y/y
22.1%
Δ EBITDA y/y
32.0%

Multiples

P/E (LTM)
13.5x
3y avg: 10.0x
P/B (FY)
2.5x
P/E (ann.)
9.4x
EV/EBITDA (LTM)
6.7x
3y avg: 5.3x
EV/EBITDA (ann.)
5.2x

Cash return

Dividend yield
2.9%
FCF yield (LTM)
-1.7%

Value creation

to target market cap (spot commodity model)
Upside (potential)
-11.3%
↓ details

Liquidity

Daily turnover (listing)
454.5 mln USD

Shares: sec_companyfacts/821189

Financial results

Monetary columns are in B USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueB USDOperating profitB USDD&AB USDEBITDAB USDNet profitB USDOperating CFB USDCapex + M&AB USDAssetsB USDEquityB USDROE (annualized)Net debtB USDSource
2026-03-31Q1 2026 (3M)OK6.9
y/y 22.1%
2.6
y/y 39.8%
1.2
y/y 17.8%
3.8
y/y 32.0%
2.0
y/y 35.3%
3.0-1.653.4
y/y 13.6%
30.9
y/y 4.7%
26.1%4.5Link
2025-12-31Q4 2025 (3M)OK5.6
y/y 0.9%
0.9
y/y -40.8%
1.2
y/y 20.3%
2.2
y/y -16.9%
0.7
y/y -44.0%
2.6-6.151.8
y/y 9.8%
29.8
y/y 1.6%
16.6%5.9Link
2025-09-30Q3 2025 (3M)OK5.8
y/y -2.0%
1.8
y/y -12.1%
1.2
y/y 13.4%
3.0
y/y -3.7%
1.5
y/y -12.1%
3.1-1.752.2
y/y 13.1%
30.3
y/y 2.4%
6.6%4.6Link
2025-06-30Q2 2025 (3M)OK5.5
y/y -9.1%
1.7
y/y -18.0%
1.1
y/y 7.0%
2.8
y/y -10.1%
1.3
y/y -20.4%
2.0-1.846.3
y/y 2.3%
29.2
y/y 0.3%
18.3%-0.6Link
2025-03-31Q1 2025 (3M)OK5.7
y/y -7.4%
1.9
y/y -18.1%
1.0
y/y -5.7%
2.9
y/y -14.1%
1.5
y/y -18.2%
2.3-1.547.0
y/y 4.9%
29.5
y/y 3.1%
19.9%-1.5Link
2024-12-31Q4 2024 (3M)OK5.6
y/y -12.1%
1.6
y/y -36.4%
1.0
y/y —
2.6
y/y -48.8%
1.3
y/y -37.1%
2.8-1.447.2
y/y 7.6%
29.4
y/y 4.5%
21.7%-1.1Link
2024-09-30Q3 2024 (3M)OK6.0
y/y -4.0%
2.1
y/y -18.3%
1.0
y/y 14.8%
3.1
y/y -9.7%
1.7
y/y -17.6%
3.6-1.546.2
y/y 5.7%
29.6
y/y 6.5%
7.6%-2.0Link
2024-06-30Q2 2024 (3M)OK6.0
y/y 8.1%
2.1
y/y 8.1%
1.0
y/y —
3.1
y/y 58.1%
1.7
y/y 8.8%
2.9-1.745.2
y/y 9.0%
29.2
y/y 11.1%
23.4%-1.3Link
2024-03-31Q1 2024 (3M)OK6.1
y/y 1.3%
2.3
y/y -11.7%
1.1
y/y —
3.3
y/y 30.1%
1.8
y/y -11.6%
2.9-1.844.8
y/y 9.2%
28.6
y/y 12.5%
25.2%-1.2Link
2023-12-31Q4 2023 (3M)OK6.4
y/y —
2.5
y/y —
—
y/y —
5.1
y/y —
2.0
y/y —
3.1—43.9
y/y —
28.1
y/y —
27.2%-0.3Link
2023-09-30Q3 2023 (3M)OK6.2
y/y —
2.6
y/y —
0.9
y/y —
3.5
y/y —
2.0
y/y —
2.7-1.543.6
y/y —
27.8
y/y —
10.0%-1.2Link
2023-06-30Q2 2023 (3M)OK5.6
y/y —
2.0
y/y —
—
y/y —
2.0
y/y —
1.6
y/y —
——41.5
y/y —
26.3
y/y —
24.0%-1.2Link
2023-03-31Q1 2023 (3M)PARTIAL6.0
y/y —
2.6
y/y —
—
y/y —
2.6
y/y —
2.0
y/y —
3.3—41.0
y/y —
25.4
y/y —
—-1.2Link

Net debt structure (leases included, IFRS 16) 2026-03-31

Short-term debt (incl. ST leases)402
Long-term debt (incl. LT leases)7 904
− Cash & equivalents3 849
Net debt4 457

Net debt / LTM EBITDA: 0.4x

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

02 0004 0006 0002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Year-over-year change

-50%0%50%2023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Cash flow

FCF ($ mln)

-3 000-2 000-1 00001 0002 0002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Net debt / cash ($ mln)

-4 000-2 00002 0004 0006 0002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Production & Reserves

Physical operating metrics — supplementary, not part of the financial statements

Oil and Gas E and P

Proved reserves
5 514 mln boe
2025
Reserve life (R/P)
12.3 yrs
reserves ÷ annual output
Annual production
449.80 mln boe
2025

Production, mln boe

302.502021331.502022359.402023388.702024449.802025

Proved reserves

YearReserves, mln boe
20255 514
20244 748
20234 498
20224 238
20213 747
20203 220

Production

YearProduction, mln boeper day
2026124.50 * (3M)
+26.9%		1 363 450
2025449.80
+15.7%		1 232 329
2024388.70
+8.2%		1 064 932
2023359.40
+8.4%		984 658
2022331.50
+9.6%		908 219
2021302.50828 767
202065.90 * (3M)721 697

* partial year

EI1 ___NASDAQ_press_comm (NASDAQ / SEC filings)

Key-commodity price — Brent

Current 83spot vs LTM +9%

Commodity-player potential

Target market cap from conservative EBITDA and the historical EV/EBITDA

Upside: -11.3% ▲ +13.3 pp 1d

Main driver: Brent +9% vs LTM; revenue ×1.01 vs costs ×1.04; EBITDA 11 765→11 618; at 9.0× EV/EBITDA → -11%.

Product prices — moves vs the LTM average

CommodityShareSpotLTM3-yrvs LTM, $3y vs LTM
Brent (rev)+62%83.4476.5880.44+9%+5%
Henry Hub Gas (rev)+20%2.673.373.11-21%-8%
Brent (cost)-3%83.4476.5880.44+9%+5%
Henry Hub Gas (cost)-1%2.673.373.11-21%-8%

How it is calculated — revenue → costs → EBITDA → target market cap

1 · Reported baseline (LTM)
LTM revenue23 884
LTM EBITDA11 765
LTM cash costs (revenue − EBITDA)12 119
2 · Revenue projection
Revenue multiplier — spot×1.014 (+1%)
= Spot revenue24 211
Revenue multiplier — 3y price×1.016 (+2%)
= 3-year-price revenue24 255
3 · Costs projection
Cost multiplier — spot×1.039 (+4%)
= Spot cash costs12 593
Cost multiplier — 3y price×1.039 (+4%)
= 3-year-price cash costs12 594
4 · EBITDA projection (revenue − costs)
= Spot EBITDA11 618
= 3-year-price EBITDA11 661
Conservative EBITDA = min(spot, avg)11 618
5 · Valuation → target market cap
Historical EV/projected-EBITDA (75th pct)9.0x
Target EV = EV/EBITDA × conservative EBITDA104 212
Net debt4 474
Target market cap = EV − net debt99 738
Current market cap82 181

Upside = target market cap ÷ current − 1 = -11.3%

Life of mine: 12 yrs — before haircut +21.4%

Spot model vs reported — what the spot model projected (trailing-LTM base brought to the period × the period's commodity-price move) against the actual report, per reported period (quarter, half-year or full year — per the filer's calendar); amounts in USD mln. green = reported above projection, pink = below.

PeriodAct. revModel revΔ revAct. EBITDAModel EBITDAΔ EBITDA
2023 Q25 5735 305+5.0%2 8362 197+29.1%
2023 Q36 2125 848+6.2%3 4552 937+17.6%
2023 Q46 3575 900+7.7%3 4343 049+12.6%
2024 Q16 1235 752+6.4%3 3452 919+14.6%
2024 Q26 0256 106-1.3%3 1143 239-3.9%
2024 Q35 9655 820+2.5%3 1202 917+7.0%
2024 Q45 5856 046-7.6%2 6113 114-16.2%
2025 Q15 6696 404-11.5%2 8723 447-16.7%
2025 Q25 4785 583-1.9%2 8002 638+6.1%
2025 Q35 8475 388+8.5%3 0052 504+20.0%
2025 Q45 6385 494+2.6%2 1692 607-16.8%
2026 Q16 9216 090+13.6%3 7913 062+23.8%

Commodity — production, reserves & revenue / cost mix

FY blocks below combine SEC XBRL tags (revenue & selected expense lines), plus production / reserves notes sourced to Form 10-K or company filings where cited.

Production and proved reserves in the FY blocks are keyed from supplemental 10-K tables after each filing is wired in. Automated SEC revenue/expense tags for the newest FY often appear before operational volumes and reserves for that same year.

Production & resources

Net production (Mboe/d)

Prod. CAGR (2 yr): +9.7%

12321180112810761024202320242025Net production (Mboe/d)

Proved reserves (MMboe)

Reserves CAGR (2 yr): +14.1% · Reserves life (R/P): 12.3 yr

55145194487545564236202320242025Proved reserves (MMboe)

Proved reserves & production rates by fiscal year

FY endCrude oil equivalent (net, Mboe/d)Proved reserves (net, MMboe)Proved developed (net, MMboe)Proved undeveloped (net, MMboe)
2025-12-311,232.25,514——
2024-12-311,062.14,498——
2023-12-311,024.54,236——

2025-12-31 · FY

Production & proved reserves

FY2025 average net crude-equivalent production (Mboe/d) and year-end 2025 proved reserves (MMboe, 6:1 gas) per Form 10-K narrative / supplemental oil & gas disclosures.

Line itemAmount
Crude oil equivalent (net, Mboe/d)1,232.2
Proved reserves (net, MMboe)5,514

Sources

Production volumes & average realized prices (FY)

Volumes and per-unit realized sales prices come from the issuer's latest Form 10-K production-and-pricing table. Implied product revenue = volume × price; mix shares feed the spot 12-month forecast above.

FY2025 10-K Item 1 'Volumes and Prices' total/composite rows (eog-20251231.htm). Average prices exclude derivative settlements per filing footnote.

ProductAnnual volumeAvg realized priceImplied revenue (USDm)Share of implied revenue
Crude oil190.5 MMBbls65.63 USD/bbl12,502.570.8%
Natural gas924,000 MMcf3.02 USD/Mcf2,790.515.8%
NGLs105.2 MMBbls22.58 USD/bbl2,375.413.4%
Total (implied product revenue)17,668.4100.0%

Revenue structure (SEC tags / residual)

Line itemAmount
Total revenues (consolidated)22,632USD mln

Selected expenses (SEC tags)

Line itemAmount
Lease & well expenses (LOE)1,000USD mln
Depreciation, depletion & amortization4,461USD mln
General & administrative820USD mln
Exploration expense236USD mln
Interest expense235USD mln
Impairment — oil & gas properties843USD mln
Income tax expense (benefit)1,382USD mln
Total costs and expenses (consolidated)16,247USD mln

Primary SEC filing for this FY (HTML)

2024-12-31 · FY

Production & proved reserves

Production: FY2024 average crude-equivalent volumes from Form 10-K / earnings tables (6:1 gas). Proved reserves: year-end 2024 per full-year results release.

Line itemAmount
Oil & condensate (net, Mbbl/d)491.4
NGLs (net, Mbbl/d)245.9
Natural gas (net, MMcf/d)1,948
Crude oil equivalent (net, Mboe/d)1,062.1
Proved reserves (net, MMboe)4,498

Sources

Production volumes & average realized prices (FY)

Volumes and per-unit realized sales prices come from the issuer's latest Form 10-K production-and-pricing table. Implied product revenue = volume × price; mix shares feed the spot 12-month forecast above.

FY2025 10-K Item 1 same table, Year Ended December 31, 2024 column (eog-20251231.htm).

ProductAnnual volumeAvg realized priceImplied revenue (USDm)Share of implied revenue
Crude oil179.9 MMBbls77.40 USD/bbl13,924.379.2%
Natural gas713,000 MMcf2.17 USD/Mcf1,547.28.8%
NGLs90 MMBbls23.40 USD/bbl2,10612.0%
Total (implied product revenue)17,577.5100.0%

Revenue structure (SEC tags / residual)

Line itemAmount
Total revenues (consolidated)23,698USD mln

Selected expenses (SEC tags)

Line itemAmount
Lease & well expenses (LOE)1,113USD mln
Depreciation, depletion & amortization4,108USD mln
General & administrative669USD mln
Exploration expense174USD mln
Interest expense138USD mln
Impairment — oil & gas properties391USD mln
Income tax expense (benefit)1,815USD mln
Total costs and expenses (consolidated)15,616USD mln

Primary SEC filing for this FY (HTML)

2023-12-31 · FY

Production & proved reserves

FY2023 average crude-equivalent and proved reserves — see Form 10-K for 2023.

Line itemAmount
Crude oil equivalent (net, Mboe/d)1,024.5
Proved reserves (net, MMboe)4,236

Sources

Production volumes & average realized prices (FY)

Volumes and per-unit realized sales prices come from the issuer's latest Form 10-K production-and-pricing table. Implied product revenue = volume × price; mix shares feed the spot 12-month forecast above.

FY2025 10-K Item 1 same table, Year Ended December 31, 2023 column (eog-20251231.htm).

ProductAnnual volumeAvg realized priceImplied revenue (USDm)Share of implied revenue
Crude oil173.7 MMBbls79.17 USD/bbl13,751.879.1%
Natural gas625,000 MMcf2.79 USD/Mcf1,743.810.0%
NGLs81.7 MMBbls23.07 USD/bbl1,884.810.8%
Total (implied product revenue)17,380.4100.0%

Revenue structure (SEC tags / residual)

Line itemAmount
Total revenues (consolidated)24,186USD mln

Selected expenses (SEC tags)

Line itemAmount
Lease & well expenses (LOE)1,083USD mln
Depreciation, depletion & amortization3,492USD mln
General & administrative640USD mln
Exploration expense181USD mln
Interest expense148USD mln
Impairment — oil & gas properties202USD mln
Income tax expense (benefit)2,095USD mln
Total costs and expenses (consolidated)14,583USD mln

Primary SEC filing for this FY (HTML)

Revenue growth & acceleration

Growth steady →
Last-year revenue growth -4% vs -2% the year before — a -2.5 pp move. 3-year CAGR —.
revenue growth by year: 2024 -2% · 2025 -4%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

EV/EBITDA — LTM vs projected

Projected EV/EBITDA 7.0x · target 75th pct (3y) 5.4x · LTM avg 6.2x

EV/EBITDA (LTM)EV/EBITDA (projected)target 75th pct (projected, 3y)

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-07-171.02 USDEx-dividend: 1.02 USD per sharePaidYahoo Finance (ex-div)
2026-04-161.02 USDEx-dividend: 1.02 USD per sharePaidYahoo Finance (ex-div)
2026-01-161.02 USDEx-dividend: 1.02 USD per sharePaidYahoo Finance (ex-div)
2025-10-171.02 USDEx-dividend: 1.02 USD per sharePaidYahoo Finance (ex-div)
2025-07-170.975 USDEx-dividend: 0.975 USD per sharePaidYahoo Finance (ex-div)
2025-04-160.975 USDEx-dividend: 0.975 USD per sharePaidYahoo Finance (ex-div)
2025-01-170.975 USDEx-dividend: 0.975 USD per sharePaidYahoo Finance (ex-div)
2024-10-170.91 USDEx-dividend: 0.91 USD per sharePaidYahoo Finance (ex-div)
2024-07-170.91 USDEx-dividend: 0.91 USD per sharePaidYahoo Finance (ex-div)
2024-04-150.91 USDEx-dividend: 0.91 USD per sharePaidYahoo Finance (ex-div)
2024-01-160.91 USDEx-dividend: 0.91 USD per sharePaidYahoo Finance (ex-div)
2023-12-141.5 USDEx-dividend: 1.5 USD per sharePaidYahoo Finance (ex-div)
2023-10-160.825 USDEx-dividend: 0.825 USD per sharePaidYahoo Finance (ex-div)
2023-07-140.825 USDEx-dividend: 0.825 USD per sharePaidYahoo Finance (ex-div)
2023-04-130.825 USDEx-dividend: 0.825 USD per sharePaidYahoo Finance (ex-div)
2023-03-151 USDEx-dividend: 1 USD per sharePaidYahoo Finance (ex-div)
2023-01-130.825 USDEx-dividend: 0.825 USD per sharePaidYahoo Finance (ex-div)
2022-12-141.5 USDEx-dividend: 1.5 USD per sharePaidYahoo Finance (ex-div)
2022-10-140.75 USDEx-dividend: 0.75 USD per sharePaidYahoo Finance (ex-div)
2022-09-141.5 USDEx-dividend: 1.5 USD per sharePaidYahoo Finance (ex-div)
2022-07-140.75 USDEx-dividend: 0.75 USD per sharePaidYahoo Finance (ex-div)
2022-06-141.8 USDEx-dividend: 1.8 USD per sharePaidYahoo Finance (ex-div)
2022-04-130.75 USDEx-dividend: 0.75 USD per sharePaidYahoo Finance (ex-div)
2022-03-141 USDEx-dividend: 1 USD per sharePaidYahoo Finance (ex-div)
2022-01-130.75 USDEx-dividend: 0.75 USD per sharePaidYahoo Finance (ex-div)
2021-12-142 USDEx-dividend: 2 USD per sharePaidYahoo Finance (ex-div)
2021-10-140.413 USDEx-dividend: 0.413 USD per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

Investor reporting (IR): https://investors.eogresources.com/financial-information/annual-reports

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of EOG Resources, Inc. — from primary filings.

Large US independent oil and gas producer with premium drilling inventory across major basins.

Frequently asked questions

What is EOG Resources, Inc.'s P/E ratio?
EOG Resources, Inc. trades at a P/E of 13.5x (price to trailing 12-month earnings).
What is EOG Resources, Inc.'s EV/EBITDA?
EOG Resources, Inc. trades at 6.7x EV/EBITDA.
What is EOG Resources, Inc.'s P/B ratio?
EOG Resources, Inc. trades at a P/B of 2.5x.
What is EOG Resources, Inc.'s dividend yield?
EOG Resources, Inc.'s trailing 12-month dividend yield is 2.9%.
What is EOG Resources, Inc.'s return on equity (ROE)?
EOG Resources, Inc.'s ROE is 26.1%.
What is EOG Resources, Inc.'s market capitalization?
EOG Resources, Inc.'s market cap is 74.3 bn USD.