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Oil & gas E&P · Energy · Fiscal year ends Dec 31
Chord Energy reported revenue of $4.9B in the fiscal year ended Dec 2025, down 7.1% from the year before. Operating income was $197M, an operating margin of 4.0%, and net income was $44M. Net debt was $1.3B.
Ranks among the 34 oil & gas e&p companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 1,580 | 3,647 | 3,897 | 5,251 | 4,877 |
| Cost of revenue | – | – | 761 | 1,412 | 975 |
| Gross profit | – | – | 3,135 | 3,839 | 3,902 |
| Operating income | 809 | 1,584 | 1,273 | 1,100 | 197 |
| Interest expense | 30.8 | 29.3 | 28.6 | 56.5 | 80.2 |
| Pre-tax income | 188 | – | – | – | 243 |
| Income tax | −1.0 | −46.9 | 315 | 264 | 199 |
| Net income | 320 | 1,856 | 1,024 | 849 | 44.5 |
| Diluted EPS | 15.48 | 57.55 | 23.51 | 16.02 | 0.74 |
| Diluted shares | 20.6 | 32.3 | 43.4 | 52.7 | 57.9 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 172 | 593 | 318 | 37.0 | 190 |
| Receivables | 377 | 782 | 943 | 1,299 | 1,117 |
| Inventory | 29.0 | 54.4 | 72.6 | 94.3 | 116 |
| Current assets | 1,615 | 1,483 | 1,425 | 1,579 | 1,538 |
| Net PP&E | 1,320 | 4,711 | 5,315 | 10,686 | 11,337 |
| Goodwill | – | – | 0.0 | 531 | 0.0 |
| Total assets | 3,027 | 6,631 | 6,926 | 13,032 | 13,074 |
| Payables | 2.1 | 29.1 | 34.5 | 68.8 | 41.8 |
| Current liabilities | 1,225 | 1,361 | 1,165 | 1,684 | 1,451 |
| Short-term debt | – | – | 0.0 | – | – |
| Long-term debt | 393 | 394 | 396 | 843 | 1,480 |
| Total liabilities | 1,805 | 1,951 | 1,850 | 4,330 | 4,994 |
| Shareholders' equity | 1,033 | 4,680 | 5,077 | 8,702 | 8,080 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 914 | 1,924 | 1,820 | 2,097 | 2,041 |
| Depreciation & amortisation | 158 | 370 | 599 | 1,108 | 1,470 |
| Stock-based compensation | 15.5 | 61.3 | 46.1 | 23.0 | 25.7 |
| Acquisitions | 590 | 148 | 362 | 655 | – |
| Share buybacks | 100 | 152 | 239 | 444 | 365 |
| Dividends paid | 112 | 655 | 500 | 530 | 318 |
| Dividend per share | – | 27.03 | 11.88 | 10.15 | 5.20 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 130.8% | 6.9% | 34.8% | −7.1% |
| Operating income growth (YoY) | – | 95.7% | −19.6% | −13.6% | −82.1% |
| EPS growth (YoY) | – | 271.8% | −59.1% | −31.9% | −95.4% |
| Gross margin | – | – | 80.5% | 73.1% | 80.0% |
| Operating margin | 51.2% | 43.4% | 32.7% | 20.9% | 4.0% |
| Net margin | 20.2% | 50.9% | 26.3% | 16.2% | 0.9% |
| Return on equityBlank when equity is negative | 30.9% | 39.7% | 20.2% | 9.8% | 0.6% |
| ROCEEBIT ÷ (assets − current liabilities) | 44.9% | 30.1% | 22.1% | 9.7% | 1.7% |
| Cash conversion (CFO ÷ net income) | 2.86x | 1.04x | 1.78x | 2.47x | 45.9x |
| Receivable days | 87 | 78 | 88 | 90 | 84 |
| Inventory days | – | – | 35 | 24 | 43 |
| Payable days | – | – | 17 | 18 | 16 |
| Interest cover | 26.3x | 54.0x | 44.5x | 19.5x | 2.46x |
| Debt ÷ equity | 0.38x | 0.08x | 0.08x | 0.10x | 0.18x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 220 | −199 | 77.9 | 806 | 1,290 |
| Current ratio | 1.32x | 1.09x | 1.22x | 0.94x | 1.06x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.