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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 +53% vs 1-yr · +6% vs 3-yr✗Priced above model value

Sector: United States — oil & gas exploration & production

Geography: United States, Canada

US_EP_MUR

Price chart

44.34 USDDay 4.65%

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
44.34 USD · 4.65%
Market cap
6.4 bn USD

Growth

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

Multiples

P/E (LTM)
21.6x
3y avg: 21.2x
P/B (FY)
1.2x
P/E (ann.)
6.8x
EV/EBITDA (LTM)
5.1x
3y avg: 4.3x
EV/EBITDA (ann.)
3.3x

Cash return

Dividend yield
3.1%
FCF yield (LTM)
8.6%

Value creation

to target market cap (spot commodity model)
Upside (potential)
-21.0%
↓ details

Liquidity

Daily turnover (listing)
68.4 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

Operating and investing cash flow (OCF + ICF) ($ 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 1.3x · 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 117spot vs LTM +42%

Commodity-player potential

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

Upside: -21.0% ▼ -0.1 pp 1d

Main driver: Brent +53% vs LTM; revenue ×1.35 vs costs ×1.05; EBITDA 1 690→2 216; at 2.9× EV/EBITDA → -21%.

Product prices — moves vs the LTM average

CommodityShareSpotLTM3-yrvs LTM, $3y vs LTM
Brent (rev)+55%116.7276.5181.20+53%+6%
WTI Crude Oil (rev)+25%103.4471.9676.71+44%+7%
Henry Hub Gas (rev)+20%2.633.383.12-22%-8%
WTI Crude Oil (cost)-3%103.4471.9676.71+44%+7%
Henry Hub Gas (cost)-1%2.633.383.12-22%-8%

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

1 · Reported baseline (LTM)
LTM revenue3 006
LTM EBITDA1 690
LTM cash costs (revenue − EBITDA)1 316
2 · Revenue projection
Revenue multiplier — spot×1.354 (+35%)
= Spot revenue4 070
Revenue multiplier — 3y price×1.035 (+3%)
= 3-year-price revenue3 110
3 · Costs projection
Cost multiplier — spot×1.049 (+5%)
= Spot cash costs1 381
Cost multiplier — 3y price×1.040 (+4%)
= 3-year-price cash costs1 368
4 · EBITDA projection (revenue − costs)
= Spot EBITDA2 689
= 3-year-price EBITDA1 742
Conservative EBITDA = min(spot, avg)2 216
5 · Valuation → target market cap
Historical EV/projected-EBITDA (75th pct)2.9x
Target EV = EV/EBITDA × conservative EBITDA6 425
Net debt1 777
Target market cap = EV − net debt4 648
Current market cap5 886

Upside = target market cap ÷ current − 1 = -21.0%

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%404295+36.8%
2025 Q4613656-6.5%300306-1.9%
2026 Q1734741-1.0%393404-2.8%
2026 Q2926898+3.2%593555+6.8%

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)

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 2.6x · target 75th pct (3y) 2.9x · LTM avg 4.9x

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

Peer comparison

Group: energy (US). Every peer trades on the same market, so no adjustment is needed.

CompanyMarketCap, $bnEV/EBITDA
Chord Energy CorporationUS8.73.6x
APA CorporationUS18.33.7x
SM Energy CompanyUS9.54.8x
Permian Resources CorporationUS19.25.4x
Ovintiv Inc.US20.05.4x
EQT CorporationUS34.86.0x
Devon Energy CorporationUS40.06.2x
EOG Resources, Inc.US86.26.5x
Antero Resources CorporationUS12.47.3x
Range Resources CorporationUS10.78.0x
Canadian Natural Resources LimitedUS115.58.6x
Diamondback Energy, Inc.US57.710.8x
Group median6.1x
Group average6.4x
This companyUS6.45.1x

Group median 6.1x; this company 5.1x — a 16% discount.

Group average 6.4x; against the average this company is at a 20% discount.

At the adjusted group median the market cap would be +25% versus today.

The gap and the implied upside are measured against the median: one richly priced peer moves an average, not a median. The market adjustment uses our coverage medians (US 20.4x, Russia 3.7x, South Africa 5.0x, Kazakhstan 4.6x, India 18.6x, Indonesia 5.4x); it is about where a name is listed, not what it does. Peer multiples come from the nightly rebuild of 2026-10-24; the company's own is live.

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 21.6x (price to trailing 12-month earnings).
What is Murphy Oil Corporation's EV/EBITDA?
Murphy Oil Corporation trades at 5.1x EV/EBITDA.
What is Murphy Oil Corporation's P/B ratio?
Murphy Oil Corporation trades at a P/B of 1.2x.
What is Murphy Oil Corporation's dividend yield?
Murphy Oil Corporation's trailing 12-month dividend yield is 3.1%.
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 6.4 bn USD.

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