EOG Resources (EOG) financials
NYSE · Energy · Oil & Gas Exploration & Production · 3,400 employees · CEO Ezra Y. Yacob
- Price
- $165.54 +2.05%
- Market cap
- $86.8B
- Enterprise value
- $90.2B
- Last report
- Q2 '26 filed 2026-08-04
- Next report
- 2026-11-05 EPS est. $4.47
Revenue (TTM)$26.7B+17.8% vs a year agoLast 4 quarters; bars = each quarter
Operating margin (TTM)39.1%+7.0 pp vs a year agoOperating income $10.5B
Net income (TTM)$6.88B+20.0% vs a year agoAfter tax, incl. non-operating gains
Free cash flow (TTM)$6.61B+46.0% vs a year agoCapex $6.74B
Diluted EPS (TTM)$12.85+24.9% vs a year agoSum of the last 4 quarters
Net cash-$3.34B-639.2% vs a year agoCash + short-term investments - debt
Valuation & key figures
- Market cap
- $86.8B EV $90.2B
- Revenue
- $26.7B Trailing 12 months
- Revenue growth
- +28% FY2026 consensus
- Profit margin
- 25.7% Net income / revenue, TTM
- P/E
- 12.8× Forward 9.2× (FY2026)
- P/S
- 3.2× Price / sales, TTM
- EV / EBITDA
- 6.5× TTM
- Free cash flow
- $6.61B Trailing 12 months
- Net income
- $6.88B Trailing 12 months
- Revenue estimate
- $29.1B FY2026 consensus
- Earnings
- 2026-11-05 Revenue est. $7.26B
- Dividend
- $4.08 Per share, last 12 months
Key takeaways
Computed from the reported numbers - every statement carries the figure it rests on.
- Last report (2026-08-04): revenue beat by 7.1%, EPS beat by 2.0%Revenue $8.62B vs $8.04B expected (+7.1%); EPS $5.07 vs $4.97 (+2.0%).
- Revenue growth accelerating: 61.0% year on yearQ2 '26 revenue $8.62B, against an average of 0.5% over the four quarters before.
- Operating margin 39.1% (TTM), +7.0 pp on a year agoOperating income grew 43.4% while revenue grew 17.8%.
- 19.2% of pre-tax profit is eaten by non-operating lossesPre-tax income $8.77B vs operating income $10.5B (TTM). Losses on equity stakes and other one-off items cut net income and EPS - operating income is the cleaner measure of the business.
- Capex 25.2% of revenue (a year ago 27.0%)$6.74B invested in the last 4 quarters (+9.8% on a year earlier). Free cash flow $6.61B = 96.2% of net income.
- Returned $5.05B to shareholders = 76.4% of free cash flowBuybacks $2.87B (a year earlier $3.2B), dividends $2.18B, stock-based pay $231M (TTM).
- Diluted share count down 3.1% in a year529M diluted shares in Q2 '26, 546M a year earlier.
- Net debt $3.34BCash + short-term investments $4.91B, debt incl. leases $8.25B; a year ago net cash $620M.
- Other International: revenue +266.7%, margin -90.9% (was -1,400.0%)Fastest-growing reported segment in Q2 '26: operating income -$10M on revenue $11M (from the segment note of the filing).
Last quarter: Q2 '26
Quarter ended 2026-06-30. Compared with the same quarter a year earlier and with the analyst consensus before the report.
Quarter vs a year ago
| Q2 '26 | Year ago | Change | |
|---|---|---|---|
| Revenue | $8.62B | $5.36B | +61.0% |
| Gross margin | 80.6% | 64.4% | +16.2 pp |
| Operating income | $3.53B | $1.75B | +101.9% |
| Operating margin | 40.9% | 32.6% | +8.3 pp |
| Net income | $2.72B | $1.35B | +102.5% |
| Diluted EPS | $5.15 | $2.46 | +109.3% |
| Operating cash flow | $4.67B | $2.03B | +129.8% |
| Capex | $1.78B | $1.79B | -0.6% |
| Free cash flow | $2.89B | $239M | +1,107.9% |
| R&D | $0 | $0 | – |
| Stock-based compensation | $60M | $53M | +13.2% |
Reported vs consensus
2026-08-04| Actual | Consensus | vs consensus | |
|---|---|---|---|
| Revenue | $8.62B | $8.04B | +7.1% |
| EPS (as estimated) | $5.07 | $4.97 | +2.0% |
From the report of 2026-08-04 for Q2 '26: revenue and the EPS analysts estimate (often adjusted), so it can differ from the EPS of the statements above.
EPS vs consensus
last 8 reportsRevenue
Where the money comes from - by business line and by region, quarter by quarter.
Revenue, operating income and growth
quarterlyRevenue by business line
stacked, quarterly| Segment | Q2 '26 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| Crude Oil and Condensate | $4.9B | – | 56.9% | – | – | |
| Oil and Condensate | – | – | – | – | – | |
| Gathering, Processing and Marketing | $2.01B | – | 23.3% | – | – | |
| Natural Gas, Gathering, Transportation, Marketing and Processing | – | – | – | – | – | |
| Natural Gas, Production | – | – | – | – | – | |
| Natural Gas | $812M | – | 9.4% | – | – | |
| Natural Gas Liquids | $770M | – | 8.9% | – | – | |
| Gains (Losses) on Asset Dispositions, Net | $58M | – | 0.7% | – | – | |
| Gains (Losses) on Mark-to-Market Financial Commodity and Other Derivative Contracts, Net | $40M | – | 0.5% | – | – | |
| Other, Net | $28M | +75.0% | 0.3% | $84M | -2.3% |
Revenue by region
share of total| Segment | Q2 '26 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| United States | $8.48B | +57.5% | 98.4% | $26.6B | +19.1% | |
| Trinidad And Tobago | $127M | +41.1% | 1.5% | $405M | +12.8% | |
| Other International | $11M | +266.7% | 0.1% | – | – |
Segment profits
Operating income per reported segment, read from the segment note of each 10-Q / 10-K (the profit split most data feeds leave out).
Segments in Q2 '26
| Segment | Revenue | y/y | Operating income | y/y | Margin | Margin a year ago | TTM operating income |
|---|---|---|---|---|---|---|---|
| United States Of America Segment | $8.48B | +57.5% | $3.49B | +98.4% | 41.1% | 32.7% | $8.84B |
| Trinidad | $127M | +41.1% | $49M | +63.3% | 38.6% | 33.3% | $119M |
| Other International | $11M | +266.7% | -$10M | +76.2% | -90.9% | -1,400.0% | -$58M |
| United States Segment | – | – | – | – | – | – | – |
| Trinidad Segment | – | – | – | – | – | – | – |
Operating income by segment
quarterlySegment operating margin
quarterlyFourth quarters are derived: the 10-K reports the full year, minus the three quarters of the 10-Qs.
Margins & cost structure
How much of each unit of revenue is left at each level - and where the costs go.
Margins
quarterlyCosts as % of revenue
quarterlyCash flow & capital allocation
Cash generated, what it is spent on, and what reaches shareholders.
Operating cash flow, capex, free cash flow
quarterlyUses of cash vs operating cash flow
fiscal yearsLast 4 quarters
cash flow statement- Operating cash flow
- $13.4B
- Capex
- -$6.74B
- Buybacks
- -$2.87B
- Dividends
- -$2.18B
- Acquisitions
- $13M
- Net debt issued
- $2.43B
- Stock-based compensation
- $231M
- Free cash flow
- $6.61B
- Returned to shareholders / FCF
- 76.4%
Share count and EPS
quarterly, dilutedBalance sheet
Liquidity, investments and debt at each quarter end.
Cash, investments and debt
quarter endsValuation & returns
Today's multiples against the company's own last five fiscal years; analyst targets and ratings.
Multiples and returns
TTM vs 5 fiscal years| Now | 5y average | Where today sits in the 5-year range | |
|---|---|---|---|
| P/E (TTM) | 12.8× | 10.5× | 9.3× – 11.5× |
| EV / EBITDA | 6.5× | 5.3× | 5.2× – 5.5× |
| EV / Sales | 3.4× | 2.8× | 2.6× – 3.0× |
| Price / FCF | 13.1× | 13.0× | 10.4× – 16.4× |
| Price / Book | 2.7× | 2.4× | 1.9× – 3.0× |
| FCF yield | 7.6% | 7.9% | 6.1% – 9.6% |
| Return on invested capital | 16.5% | 15.8% | 10.5% – 20.9% |
| Return on equity | 22.4% | 23.6% | 16.7% – 31.3% |
Analysts
Consensus target $164.79 (-0.5%)
range $138.00 – $193.00 · rating Buy
Strong buy1
Buy38
Hold27
Sell0
Strong sell0
Outlook
Analyst consensus for the coming fiscal years and what it implies at today's price.
Consensus estimates
| Fiscal year | Revenue | Growth | EPS | Growth | P/E at today's price | Analysts (EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $29.1B | +28.4% | $17.93 | +96.9% | 9.2× | 16 |
| FY2027 | $27B | -7.0% | $16.14 | -10.0% | 10.3× | 18 |
| FY2028 | $26B | -3.8% | $15.15 | -6.1% | 10.9× | 11 |
| FY2029 | $24.6B | -5.5% | $15.35 | +1.3% | 10.8× | 4 |
| FY2030 | $24.9B | +1.1% | $16.22 | +5.7% | 10.2× | 4 |
Financial statements
Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.
Every reported line
All 218 figures EOG Resources, Inc. tagged in its recent 10-Q / 10-K filings, with the official SEC label and definition - including the notes (leases, taxes, buybacks, employees, ...).
| Line (SEC label) | Latest quarter | Year ago | y/y | Latest FY | Prior FY | y/y |
|---|---|---|---|---|---|---|
| Accounts Payable, Current | $3.37B | $2.27B | +48.9% | $2.9B | $2.46B | +17.9% |
| Accounts Receivable, after Allowance for Credit Loss | $2.29B2025-12-31 | $2.18B | +4.8% | $2.29B | $2.18B | +4.8% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $3.53B | $2.5B | +40.9% | $2.68B | $2.65B | +1.2% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $56.3B | $51.4B | +9.5% | $54.3B | $49.3B | +10.2% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$5M | -$7M | +28.6% | -$7M | -$4M | -75.0% |
| Additional Paid in Capital | $6.07B | $6.15B | -1.3% | $6.03B | $6.09B | -1.0% |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $60M | $53M | +13.2% | $216M | $199M | +8.5% |
| APIC, Share-based Payment Arrangement, Restricted Stock Unit, Increase for Cost Recognition | $0 | $0 | – | $0 | $0 | – |
| Asset Retirement Obligation | $1.61B | $1.48B | +8.3% | $1.57B | $1.46B | +7.5% |
| Asset Retirement Obligation, Accretion Expense | $17M | $16M | +6.3% | $60M | $59M | +1.7% |
| Asset Retirement Obligation, Current | $45M | $74M | -39.2% | $49M | $69M | -29.0% |
| Asset Retirement Obligation, Foreign Currency Translation Gain (Loss) | -$2M2025-12-31 | $9M | -122.2% | -$1M | $8M | -112.5% |
| Asset Retirement Obligation, Liabilities Incurred | $16M | $13M | +23.1% | $91M | $48M | +89.6% |
| Asset Retirement Obligation, Liabilities Settled | $18M | $16M | +12.5% | $75M | $62M | +21.0% |
| Asset Retirement Obligation, Revision of Estimate | $19M | $3M | +533.3% | $33M | -$83M | +139.8% |
| Asset Retirement Obligations, Noncurrent | $1.56B | $1.41B | +10.8% | $1.52B | $1.39B | +9.3% |
| Assets | $54.8B | $46.3B | +18.4% | $51.8B | $47.2B | +9.8% |
| Assets, Current | $9.88B | $9.25B | +6.8% | $7.66B | $11.2B | -31.8% |
| Capital Expenditures Incurred but Not yet Paid | -$37M | $48M | -177.1% | $878M | $725M | +21.1% |
| Capitalized Exploratory Well Costs | $02025-12-31 | $0 | – | $0 | $0 | – |
| Cash and Cash Equivalents, at Carrying Value | $4.91B | $5.22B | -5.9% | $3.4B | $7.09B | -52.1% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $4.91B | $5.22B | -5.9% | $3.4B | $7.09B | -52.1% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $1.06B | -$1.38B | +176.5% | -$3.7B | $1.81B | -303.7% |
| Collateral Already Posted, Aggregate Fair Value | $0 | $0 | – | $0 | $0 | – |
| Common Stock, Capital Shares Reserved for Future Issuance | 20M2025-12-31 | 20M | 0.0% | 20M | 20M | 0.0% |
| Common Stock, Dividends, Per Share, Declared | $1.02 | $2.00 | -48.9% | $3.99 | $3.71 | +7.7% |
| Common Stock, Par or Stated Value Per Share | $0.01 | $0.01 | 0.0% | $0.01 | $0.01 | 0.0% |
| Common Stock, Shares Authorized | 1.28B | 1.28B | 0.0% | 1.28B | 1.28B | 0.0% |
| Common Stock, Shares, Issued | 589M | 589M | 0.0% | 589M | 589M | 0.0% |
| Common Stock, Value, Issued | $206M | $206M | 0.0% | $206M | $206M | 0.0% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | $2.73B | $1.34B | +103.1% | $4.98B | $6.41B | -22.3% |
| Costs and Expenses | $5.09B | $3.73B | +36.5% | $16.2B | $15.6B | +4.0% |
| Current Federal Tax Expense (Benefit) | – | – | – | $988M | $1.24B | -20.6% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $8M | $2M | +300.0% |
| Current Income Tax Expense (Benefit) | – | – | – | $1.04B | $1.35B | -22.9% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $43M | $102M | -57.8% |
| Debt Instrument, Fair Value Disclosure | $7.75B | $4B | +93.8% | $7.85B | $4.44B | +76.7% |
| Debt Instrument, Unamortized Discount | $57M2025-12-31 | $33M | +72.7% | $57M | $33M | +72.7% |
| Debt Issuance Costs, Net | $14M2025-12-31 | $5M | +180.0% | $14M | $5M | +180.0% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | $341M | $425M | -19.8% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | -$1M | $2M | -150.0% |
| Deferred Income Tax Assets, Net | $35M | $39M | -10.3% | $39M | $39M | 0.0% |
| Deferred Income Tax Expense (Benefit) | $346M | $105M | +229.5% | $343M | $467M | -26.6% |
| Deferred Income Tax Liabilities, Net | $7.22B | $6.02B | +20.0% | $6.85B | $5.87B | +16.8% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | $3M | $40M | -92.5% |
| Deferred Tax Assets, Net of Valuation Allowance | $39M2025-12-31 | $39M | 0.0% | $39M | $39M | 0.0% |
| Deferred Tax Assets, Operating Loss Carryforwards, Foreign | $130M2025-12-31 | $127M | +2.4% | $130M | $127M | +2.4% |
| Deferred Tax Assets, Other | $60M2025-12-31 | $44M | +36.4% | $60M | $44M | +36.4% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits | $73M2025-12-31 | $65M | +12.3% | $73M | $65M | +12.3% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost | $68M2025-12-31 | $65M | +4.6% | $68M | $65M | +4.6% |
| Deferred Tax Assets, Valuation Allowance | $219M2025-12-31 | $201M | +9.0% | $219M | $201M | +9.0% |
| Deferred Tax Liabilities, Gross | $6.85B2025-12-31 | $5.87B | +16.8% | $6.85B | $5.87B | +16.8% |
| Deferred Tax Liabilities, Net | $6.82B2025-12-31 | $5.83B | +17.0% | $6.82B | $5.83B | +17.0% |
| Deferred Tax Liabilities, Property, Plant and Equipment | $7.06B2025-12-31 | $6.04B | +16.8% | $7.06B | $6.04B | +16.8% |
| Depreciation, Depletion and Amortization | $1.26B | $1.05B | +19.6% | $4.46B | $4.11B | +8.6% |
| Derivative Asset, Collateral, Obligation to Return Cash, Offset | $02025-09-30 | $0 | – | $02023-12-31 | $0 | – |
| Derivative Asset, Fair Value, Gross Liability | $1M2026-03-31 | – | – | $1M | $1M | 0.0% |
| Derivative Liability, Current | $02025-12-31 | $116M | -100.0% | $0 | $116M | -100.0% |
| Derivative Liability, Securities Sold under Agreements to Repurchase, Securities Loaned, Gross Including Not Subject to Master Netting Arrangement | $61M2026-03-31 | – | – | $117M | – | – |
| Dividends Payable | $531M | $1.08B | -50.9% | $544M | $539M | +0.9% |
Source: SEC companyfacts (XBRL of every 10-Q / 10-K). Cash-flow quarters are derived from the year-to-date figures the 10-Q tags. Segment breakdowns are tagged with dimensions and are shown in the segment section instead.
Sources
Statements, segment revenue, metrics, estimates: Financial Modeling Prep. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30, 10-Q 2024-06-30
Data as of 2026-11-01