Energy · Oil & Gas Exploration & Production · US stock · price as of 16 Oct 2026
Key indicators
Price
$158.01
52-week range
$98.46 – $158.37
Market cap
$83.6B
P/E (trailing)
12.4×
EV / EBITDA
6.3×
Free-cash-flow yield
16.0%
Dividend yield
3.2%
Revenue (last 12 months)
$27.0B
Revenue growth (3y a year)
−4.2%
Operating margin
32.9%
Return on invested capital
20.0%
Net debt / EBITDA
0.2×
Fair value
Blended fair value$313.67 range $260 – $328
Versus priceUndervalued+99% to fair value
Peer multiples
$187.68
Fundamentals-adjusted multiple
$256.58
10-year DCF (market-scaled)
$496.75
Earnings power value (floor, not blended)
$140.13
Model uncertainty
Medium
X-Ray Score
66/ 100 · Medium confidence · ahead of 85% of sector peers
Valuation84
Growth49
Profitability76
Financial health60
Dividends43
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
EOG Resources is an independent oil and natural gas exploration and production company with operations concentrated in United States shale basins, including the Permian and Eagle Ford areas. It drills wells, produces crude oil, natural gas liquids and natural gas, and sells them at market-linked prices. Revenue therefore depends heavily on commodity prices and on the volumes it produces, which makes earnings sensitive to energy market swings.
Over the last twelve months Eog Resources Inc reported revenue of $27.0 billion, which fell 4.2% a year over the past three years. Its operating margin is 32.9% and its return on invested capital is 20%. Net debt to EBITDA is 0.2 times. A dividend is paid, with a yield of 3.2%.
StocksXray gives Eog Resources Inc an X-Ray Score of 66 out of 100 (medium confidence), ahead of 85% of the S&P 500 stocks in its sector. Its strongest lens is valuation (84) and its weakest is dividends (43).
Our fair value blend is $313.67 (range $259.81 to $327.65). At $158.01 the stock trades 50% below that blend, so the label is "Undervalued" with medium model uncertainty. Fair value is a range, not a price target.
XStocksXray
Eog Resources Inc (EOG)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$71.63
$112.37
$110.09
$114.83
$101.77
$158.01
Market cap
$41.8B
$66.0B
$64.3B
$65.3B
$55.6B
$83.6B
P/E
9.0×
8.5×
8.5×
10.2×
11.2×
12.4×
EV / revenue
2.2×
2.5×
2.6×
2.7×
2.7×
3.2×
EV / EBITDA
4.3×
4.8×
4.8×
5.2×
5.5×
6.3×
Price / free cash flow
4.8×
5.9×
5.7×
5.4×
5.5×
6.3×
Free-cash-flow yield
21.0%
16.8%
17.6%
18.6%
18.1%
16.0%
Price / book
1.9×
2.7×
2.3×
2.2×
1.9×
2.6×
Dividend yield
6.96%
7.90%
5.35%
3.23%
3.92%
3.23%
Fundamentals checklist ● 8 Good · ● 4 Average · ● 1 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−11.8%Good
Risk models
Altman Z score5.1×Good
Piotroski F-Score4 of 9Bad
Growth
EPS growth (3y)−11.6%Average
Revenue growth (3y)−4.2%Average
Growth consistency50%Average
Balance sheet
Current ratio1.9×Good
Net debt / EBITDA0.2×Good
Interest cover33.0×Average
Valuation
Fair value vs price2.0×Good
EBIT / EV yield10.3%Good
Profitability
Return on invested capital20.0%Good
Operating margin32.9%Good
XStocksXray
Eog Resources Inc (EOG)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
18,642
25,702
24,186
23,698
22,632
27,026
Gross profit
–
–
–
–
–
–
Operating income
6,102
9,966
9,603
8,082
6,385
8,905
Net income
4,664
7,759
7,594
6,403
4,980
6,876
Diluted EPS ($)
7.99
13.22
13.00
11.25
9.12
12.77
Free cash flow
8,791
11,093
11,340
12,143
10,044
13,358
Gross margin
–
–
–
–
–
–
Operating margin
32.7%
38.8%
39.7%
34.1%
28.2%
32.9%
Net margin
25.0%
30.2%
31.4%
27.0%
22.0%
25.4%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
38,236
41,371
43,857
47,186
51,799
54,783
Cash
5,209
5,972
5,278
7,092
3,396
4,907
Total debt
5,109
5,078
3,799
4,752
7,936
7,926
Equity
22,180
24,779
28,090
29,351
29,833
31,864
Dividend per share ($)
4.99
8.88
5.89
3.71
3.99
3.06
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value blends three models and carries a typical error of about 40%, so treat it as a range. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.