EOG Resources
EOG · NYSECrude Petroleum & Natural Gas · Fiscal year ends Dec 31
EOG Resources reported revenue of $22.6B in the fiscal year ended Dec 2025, down 4.5% from the year before. Operating income was $6.4B, an operating margin of 28.2%, and net income was $5B. Net debt was $4.5B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | $18.6B | $25.7B | $24.2B | $23.7B | $22.6B |
| Operating income | $6.1B | $10B | $9.6B | $8.1B | $6.4B |
| Interest expense | $178M | $179M | $148M | $138M | $235M |
| Pre-tax income | $5.9B | $9.9B | $9.7B | $8.2B | $6.4B |
| Income tax | $1.3B | $2.1B | $2.1B | $1.8B | $1.4B |
| Net income | $4.7B | $7.8B | $7.6B | $6.4B | $5B |
| Diluted EPS | 7.99 | 13.22 | 13.00 | 11.25 | 9.12 |
| Diluted shares | 584M | 587M | 584M | 569M | 546M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $5.2B | $6B | $5.3B | $7.1B | $3.4B |
| Receivables | $2.3B | $2.8B | $2.7B | $2.7B | $2.7B |
| Inventory | $584M | $1.1B | $1.3B | $985M | $1B |
| Current assets | $8.6B | $10.5B | $9.9B | $11.2B | $7.7B |
| Net PP&E | $28.4B | $29.4B | $32.3B | $34.2B | $42.3B |
| Total assets | $38.2B | $41.4B | $43.9B | $47.2B | $51.8B |
| Payables | $2.2B | $2.5B | $2.4B | $2.5B | $2.9B |
| Current liabilities | $4B | $5.5B | $4.1B | $5.4B | $4.7B |
| Short-term debt | $37M | $1.3B | $34M | $532M | $27M |
| Long-term debt | $5.1B | $3.8B | $3.8B | $4.2B | $7.9B |
| Shareholders' equity | $22.2B | $24.8B | $28.1B | $29.4B | $29.8B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $8.8B | $11.1B | $11.3B | $12.1B | $10B |
| Depreciation & amortisation | $3.7B | $3.5B | $3.5B | $4.1B | $4.5B |
| Stock-based compensation | $152M | $133M | $177M | $199M | $216M |
| Acquisitions | – | – | $0 | $0 | $4.5B |
| Share buybacks | $41M | $118M | $1B | $3.2B | $2.6B |
| Dividend per share | 4.99 | 8.88 | 5.88 | 3.71 | 3.99 |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 37.9% | −5.9% | −2.0% | −4.5% |
| Operating income growth (YoY) | – | 63.3% | −3.6% | −15.8% | −21.0% |
| EPS growth (YoY) | – | 65.5% | −1.7% | −13.5% | −18.9% |
| Operating margin | 32.7% | 38.8% | 39.7% | 34.1% | 28.2% |
| Net margin | 25.0% | 30.2% | 31.4% | 27.0% | 22.0% |
| Return on equityBlank when equity is negative | 21.0% | 31.3% | 27.0% | 21.8% | 16.7% |
| ROCEEBIT ÷ (assets − current liabilities) | 17.8% | 27.8% | 24.1% | 19.3% | 13.6% |
| Cash conversion (CFO ÷ net income) | 1.88x | 1.43x | 1.49x | 1.90x | 2.02x |
| Receivable days | 46 | 39 | 41 | 41 | 43 |
| Interest cover | 34.3x | 55.7x | 64.9x | 58.6x | 27.2x |
| Debt ÷ equity | 0.23x | 0.20x | 0.14x | 0.16x | 0.27x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | −$100M | −$894M | −$1.5B | −$2.3B | $4.5B |
| Current ratio | 2.12x | 1.90x | 2.44x | 2.10x | 1.63x |
Recent filings
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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.