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Murphy Oil Corporation USD

Independent E&P with deepwater Gulf of Mexico and international offshore/onshore assets.

At a glance: strengths & risks
✓Revenue growing (+33% y/y, Q2 2026)✓Profit growing (+942% y/y, Q2 2026)✓Margins improving (51%→64%, Q2 2026)✓Commodity price +27% vs 1-yr · +5% vs 3-yr✗Priced above model value

Sector: United States — oil & gas exploration & production

Geography: United States, Canada

US_EP_MUR

Price chart

36.44 USDDay -2.36%

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
36.44 USD · -2.36%
Market cap
5.2 bn USD

Growth

Δ revenue y/y
33.2%
Δ EBITDA y/y
75.4%

Multiples

P/E (LTM)
17.8x
3y avg: 21.2x
P/B (FY)
1.0x
P/E (ann.)
5.6x
EV/EBITDA (LTM)
4.4x
3y avg: 4.3x
EV/EBITDA (ann.)
2.8x

Cash return

Dividend yield
3.8%
FCF yield (LTM)
5.6%

Value creation

to target market cap (spot commodity model)
Upside (potential)
-40.6%
↓ details

Liquidity

Daily turnover (listing)
55.2 mln USD

Shares: sec_companyfacts/717423

Financial results

Monetary columns are in M 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.

DatePeriodStatusRevenueM USDOperating profitM USDD&AM USDEBITDAM USDNet profitM USDOperating CFM USDCapex + M&AM USDAssetsM USDEquityM USDROE (annualized)Net debtM USDSource
2026-06-30Q2 2026 (3M)OK926.3
y/y 33.2%
354.7
y/y 284.6%
262.1
y/y 1.1%
616.8
y/y 75.4%
232.2
y/y 942.1%
656.0-479.210278.1
y/y 4.5%
5259.0
y/y 1.2%
17.9%1777.3Link
2026-03-31Q1 2026 (3M)OK733.6
y/y 10.2%
138.3
y/y -3.9%
254.4
y/y 31.0%
392.6
y/y 16.1%
53.0
y/y -27.5%
321.2-387.810035.6
y/y 2.2%
5098.9
y/y -0.4%
4.1%1918.8Link
2025-12-31Q4 2025 (3M)OK624.6
y/y -6.9%
59.3
y/y -30.3%
240.8
y/y 11.8%
300.1
y/y -0.2%
11.9
y/y -76.4%
249.6-193.69832.6
y/y 1.7%
5118.4
y/y -1.5%
2.0%1822.0Link
2025-09-30Q3 2025 (3M)OK733.0
y/y -3.3%
5.8
y/y -96.8%
283.5
y/y 26.8%
289.3
y/y -28.2%
-3.0
y/y -102.1%
339.4-149.09732.8
y/y 0.2%
5121.4
y/y -2.4%
-0.1%1792.1Link
2025-06-30Q2 2025 (3M)OK695.6
y/y -13.4%
92.2
y/y -50.0%
259.3
y/y 20.3%
351.5
y/y -12.1%
22.3
y/y -82.6%
358.1-309.69839.5
y/y -0.5%
5198.5
y/y -2.4%
1.7%1780.5Link
2025-03-31Q1 2025 (3M)OK665.7
y/y -16.4%
143.9
y/y -6.6%
194.2
y/y -8.0%
338.1
y/y -7.4%
73.0
y/y -18.9%
300.7-368.49820.3
y/y 1.6%
5120.3
y/y -3.5%
5.7%1808.5Link
2024-12-31Q4 2024 (3M)OK671.0
y/y -20.5%
85.2
y/y -58.0%
215.4
y/y 1.3%
300.6
y/y -27.7%
50.3
y/y -56.7%
433.5-166.89667.5
y/y -1.0%
5194.2
y/y -3.1%
7.8%1641.5Link
2024-09-30Q3 2024 (3M)OK758.3
y/y -21.0%
179.0
y/y -52.6%
223.6
y/y -5.8%
402.7
y/y -34.5%
139.1
y/y -45.5%
429.0-216.49716.4
y/y -2.3%
5249.7
y/y -1.7%
3.5%1881.5Link
2024-06-30Q2 2024 (3M)OK802.8
y/y -1.5%
184.3
y/y 11.8%
215.5
y/y -0.1%
399.9
y/y 5.1%
127.7
y/y 29.9%
467.7-267.89893.7
y/y -3.5%
5323.7
y/y 1.7%
9.6%1845.5Link
2024-03-31Q1 2024 (3M)OK796.4
y/y -5.4%
154.1
y/y -48.1%
211.1
y/y 7.9%
365.2
y/y -25.8%
90.0
y/y -53.0%
398.8-249.19668.7
y/y -5.1%
5304.0
y/y 3.2%
6.8%1701.2Link
2023-12-31Q4 2023 (3M)OK844.2
y/y —
202.8
y/y —
212.7
y/y —
415.5
y/y —
116.3
y/y —
543.0-163.79766.7
y/y —
5362.8
y/y —
12.4%1771.0Link
2023-09-30Q3 2023 (3M)OK959.6
y/y —
377.5
y/y —
237.5
y/y —
615.0
y/y —
255.3
y/y —
456.1-207.59942.6
y/y —
5340.0
y/y —
6.4%2055.6Link
2023-06-30Q2 2023 (3M)OK814.6
y/y —
164.9
y/y —
215.7
y/y —
380.6
y/y —
98.3
y/y —
469.9-349.410249.5
y/y —
5234.3
y/y —
7.6%2378.8Link
2023-03-31Q1 2023 (3M)OK841.7
y/y —
296.8
y/y —
195.7
y/y —
492.5
y/y —
191.6
y/y —
279.8-345.310188.5
y/y —
5137.6
y/y —
—2414.5Link

Net debt structure (leases included, IFRS 16) 2026-06-30

Short-term debt (incl. ST leases)280
Long-term debt (incl. LT leases)1 981
− Cash & equivalents484
Net debt1 777

Net debt / LTM EBITDA: 1.1x

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

02004006008001 0002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Year-over-year change

-50%0%50%100%2024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Cash flow

FCF ($ mln)

-10001002003002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Net debt / cash ($ mln)

05001 0001 5002 0002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Profit and cash

Profit is cash-backed
In a typical year of 2023–2025 operating cash flow came to 4.25x of reported net profit; after capex, 2.04x.
year202320242025
cash flow / profit2.64x4.25x11.97x
accruals, % of assets-11.1%-13.7%-11.6%
Last twelve months (to 2026-06-30): 5.33x of profit came back as operating cash flow.
net debt / EBITDA 1.4x · EBIT covers interest 3.1x · capex 1.1x of depreciation · dividends 31% of free cash flow · share count -4.1% a year
Read from the reported annual statements: cash flow / profit is the median of the yearly operating cash flow over net profit for the years shown; accruals are (profit − operating cash flow) / assets, the classic gap between what was booked and what was collected. A gap can be growth in working capital, capitalised costs, revaluations or profit from associates — the panel points at it, the statements explain it. Not investment advice.

Production & Reserves

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

Oil and Gas E and P

Proved reserves
1 345 mln boe
2025
Reserve life (R/P)
20.3 yrs
reserves ÷ annual output
Annual production
66.39 mln boe
2025

Production, mln boe

63.00201960.94202058.18202160.74202267.73202364.81202466.392025

Proved reserves

YearReserves, mln boe
20251 345
20241 364
20231 279
20221 183
20211 196
20201 214
20191 280
2018921.60
2017819.30

Production

YearProduction, mln boeper day, mln boe
202631.23 * (6M)
−1.1%		0.17
202566.39
+2.4%		0.18
202464.81
−4.3%		0.18
202367.73
+11.5%		0.19
202260.74
+4.4%		0.17
202158.18
−4.5%		0.16
202060.94
−3.3%		0.17
201963.000.17
201816.05 * (3M)0.18

* partial year

EI1 ___NASDAQ_press_comm (NASDAQ / SEC filings)

Key-commodity price — Brent

Current 97spot vs LTM +26%

Commodity-player potential

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

Upside: -40.6% ▲ +0.5 pp 1d

Main driver: Brent +27% vs LTM; revenue ×1.19 vs costs ×1.05; EBITDA 1 575→1 843; at 2.9× EV/EBITDA → -41%.

Product prices — moves vs the LTM average

CommodityShareSpotLTM3-yrvs LTM, $3y vs LTM
Brent (rev)+55%96.8776.5180.57+27%+5%
WTI Crude Oil (rev)+25%92.2671.9676.36+28%+6%
Henry Hub Gas (rev)+20%2.933.383.12-13%-8%
WTI Crude Oil (cost)-3%92.2671.9676.36+28%+6%
Henry Hub Gas (cost)-1%2.933.383.12-13%-8%

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

1 · Reported baseline (LTM)
LTM revenue3 006
LTM EBITDA1 575
LTM cash costs (revenue − EBITDA)1 431
2 · Revenue projection
Revenue multiplier — spot×1.190 (+19%)
= Spot revenue3 578
Revenue multiplier — 3y price×1.029 (+3%)
= 3-year-price revenue3 092
3 · Costs projection
Cost multiplier — spot×1.046 (+5%)
= Spot cash costs1 496
Cost multiplier — 3y price×1.039 (+4%)
= 3-year-price cash costs1 488
4 · EBITDA projection (revenue − costs)
= Spot EBITDA2 081
= 3-year-price EBITDA1 605
Conservative EBITDA = min(spot, avg)1 843
5 · Valuation → target market cap
Historical EV/projected-EBITDA (75th pct)2.9x
Target EV = EV/EBITDA × conservative EBITDA5 273
Net debt1 777
Target market cap = EV − net debt3 496
Current market cap5 886

Upside = target market cap ÷ current − 1 = -40.6%

Life of mine: 20 yrs

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
2024 Q1796821-3.0%365424-13.8%
2024 Q2803864-7.1%400445-10.2%
2024 Q3758793-4.3%403383+5.2%
2024 Q4670776-13.8%301363-17.1%
2025 Q1666810-17.9%338410-17.5%
2025 Q2696678+2.6%352306+14.9%
2025 Q3733652+12.4%289295-2.1%
2025 Q4613656-6.5%300276+8.6%
2026 Q1734741-1.0%393374+4.9%
2026 Q2926898+3.2%593525+12.9%

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)

182.3182.3182.3182.3182.320252025Net production (Mboe/d)

Proved reserves (MMboe)

Reserves life (R/P): 11.0 yr

730.0730.0730.0730.0730.020252025Proved 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)
2025-12-31182.3730——

2025-12-31 · FY

Production & proved reserves

FY2025 average net production (BOEPD) and year-end proved reserves (MMboe) per Murphy FY2025 earnings materials / 10-K exhibits.

Line itemAmount
Crude oil equivalent (net, Mboe/d)182.3
Proved reserves (net, MMboe)730

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 7 / Production Volumes & Sales Prices tables (mur-20251231.htm). Annualised from BBL/day and Mcf/day; per-product prices are volume-weighted across the company's geographic segments (US Onshore + US Offshore + Canada Onshore + Canada Offshore + Other) and exclude derivative settlements.

ProductAnnual volumeAvg realized priceImplied revenue (USDm)Share of implied revenue
Crude oil34 MMBbls65.36 USD/bbl2,223.482.8%
Natural gas185,402 MMcf2.06 USD/Mcf381.914.2%
NGLs4 MMBbls20.29 USD/bbl80.23.0%
Total (implied product revenue)2,685.5100.0%

Revenue structure (SEC tags / residual)

Line itemAmount
Oil & gas producing activities (Reg. S-X results of operations)2,707.4USD mln
Other revenue (incl. marketing, derivatives & eliminations vs. producing-activities subtotal)11.4USD mln

Selected expenses (SEC tags)

Line itemAmount
Lease & well expenses (LOE)638.1USD mln
Depreciation, depletion & amortization977.8USD mln
Exploration expense111.7USD mln
Impairment — oil & gas properties115USD mln
Income tax expense (benefit)44.6USD mln
Total costs and expenses (consolidated)2,417.6USD mln

Primary SEC filing for this FY (HTML)

2024-12-31 · FY

Production & proved reserves

No production / reserves detail wired for this fiscal year yet.

Revenue structure (SEC tags / residual)

Line itemAmount
Oil & gas producing activities (Reg. S-X results of operations)3,024.5USD mln
Other revenue (incl. marketing, derivatives & eliminations vs. producing-activities subtotal)4USD mln

Selected expenses (SEC tags)

Line itemAmount
Lease & well expenses (LOE)761.1USD mln
Depreciation, depletion & amortization865.8USD mln
Exploration expense133.5USD mln
Impairment — oil & gas properties62.9USD mln
Income tax expense (benefit)78.3USD mln
Total costs and expenses (consolidated)2,425.9USD mln

Primary SEC filing for this FY (HTML)

2023-12-31 · FY

Production & proved reserves

No production / reserves detail wired for this fiscal year yet.

Revenue structure (SEC tags / residual)

Line itemAmount
Oil & gas producing activities (Reg. S-X results of operations)3,456.8USD mln
Other revenue (incl. marketing, derivatives & eliminations vs. producing-activities subtotal)3.3USD mln

Selected expenses (SEC tags)

Line itemAmount
Lease & well expenses (LOE)668USD mln
Depreciation, depletion & amortization861.6USD mln
Exploration expense234.8USD mln
Interest expense112.4USD mln
Impairment — oil & gas properties0USD mln
Income tax expense (benefit)195.9USD mln
Total costs and expenses (consolidated)2,418.1USD mln

Primary SEC filing for this FY (HTML)

Revenue growth & acceleration

Growth steady →
Last-year revenue growth -10% vs -12% the year before — a +2.3 pp move. 3-year CAGR —.
revenue growth by year: 2024 -12% · 2025 -10%
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 2.8x · target 75th pct (3y) 3.0x · LTM avg 4.9x

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

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-08-170.35 USDEx-dividend: 0.35 USD per sharePaidYahoo Finance (ex-div)
2026-05-180.35 USDEx-dividend: 0.35 USD per sharePaidYahoo Finance (ex-div)
2026-02-170.35 USDEx-dividend: 0.35 USD per sharePaidYahoo Finance (ex-div)
2025-11-170.325 USDEx-dividend: 0.325 USD per sharePaidYahoo Finance (ex-div)
2025-08-180.325 USDEx-dividend: 0.325 USD per sharePaidYahoo Finance (ex-div)
2025-05-160.325 USDEx-dividend: 0.325 USD per sharePaidYahoo Finance (ex-div)
2025-02-180.325 USDEx-dividend: 0.325 USD per sharePaidYahoo Finance (ex-div)
2024-11-180.3 USDEx-dividend: 0.3 USD per sharePaidYahoo Finance (ex-div)
2024-08-190.3 USDEx-dividend: 0.3 USD per sharePaidYahoo Finance (ex-div)
2024-05-170.3 USDEx-dividend: 0.3 USD per sharePaidYahoo Finance (ex-div)
2024-02-160.3 USDEx-dividend: 0.3 USD per sharePaidYahoo Finance (ex-div)
2023-11-100.275 USDEx-dividend: 0.275 USD per sharePaidYahoo Finance (ex-div)
2023-08-110.275 USDEx-dividend: 0.275 USD per sharePaidYahoo Finance (ex-div)
2023-05-120.275 USDEx-dividend: 0.275 USD per sharePaidYahoo Finance (ex-div)
2023-02-100.275 USDEx-dividend: 0.275 USD per sharePaidYahoo Finance (ex-div)
2022-11-100.25 USDEx-dividend: 0.25 USD per sharePaidYahoo Finance (ex-div)
2022-08-120.25 USDEx-dividend: 0.25 USD per sharePaidYahoo Finance (ex-div)
2022-05-130.175 USDEx-dividend: 0.175 USD per sharePaidYahoo Finance (ex-div)
2022-02-110.15 USDEx-dividend: 0.15 USD per sharePaidYahoo Finance (ex-div)
2021-11-120.125 USDEx-dividend: 0.125 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://investor.murphyoilcorp.com/

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 Murphy Oil Corporation — from primary filings.

Frequently asked questions

What is Murphy Oil Corporation's P/E ratio?
Murphy Oil Corporation trades at a P/E of 17.8x (price to trailing 12-month earnings).
What is Murphy Oil Corporation's EV/EBITDA?
Murphy Oil Corporation trades at 4.4x EV/EBITDA.
What is Murphy Oil Corporation's P/B ratio?
Murphy Oil Corporation trades at a P/B of 1.0x.
What is Murphy Oil Corporation's dividend yield?
Murphy Oil Corporation's trailing 12-month dividend yield is 3.8%.
What is Murphy Oil Corporation's return on equity (ROE)?
Murphy Oil Corporation's ROE is 17.9%.
What is Murphy Oil Corporation's market capitalization?
Murphy Oil Corporation's market cap is 5.2 bn USD.

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