Energy

100 companies in 7 industries · $2.45T combined revenue · $261B operating profit

2.2%Median revenue growth
-8.7%Median earnings growth
15%Median operating margin
8.3%Median ROCE
7%Companies with net cash

Growth engines: the 4 Cylinders

All four working: 5% of companies

A company's earnings per share can grow in only four ways: more sales, profits growing faster than sales (operating leverage), wider margins, and less debt. Each bar is the share of companies where that engine worked in their latest year.

  • Sales growth · Revenue up 10% or more30%
  • Operating leverage · Operating income growing faster than a growing revenue22%
  • Margin expansion · Operating margin up 1 point or more37%
  • Debt reduction · Debt down 5% or more, or net cash28%

Industries in Energy

All 100 energy companies

Median–2.2%-8.7%15%8.3%0.48x
XOMExxonMobil · Oil & gas integrated$332B-5%▼-14.4%▼12.4%▼11%▲0.16x▲
CVXChevron · Oil & gas integrated$184B-4.6%▼-30.4%▼8.2%▼5.2%▼0.23x▲
SHELShell · Oil & gas integrated$267B-6.1%▼9.7%▲12.9%▼12%▲0.43x▲
TTETotalEnergies · Oil & gas integrated$201B-6.2%▼-16.7%▼––0.53x▼
COPConocophillips · Oil & gas E&P$51.8B4.9%▲-13.6%▼26.7%▲12.6%▲0.36x▲
PBRPetrobras - Petroleo Brasileiro · Oil & gas integrated$91.4B-10.7%▼-69.6%▼29.4%▲17.9%▲0.39x▲
MPCMarathon Petroleum · Oil & gas refining & marketing$133B-4.4%▼17.5%▲6.2%▼12.9%▲1.90x▼
VLOValero Energy · Oil & gas refining & marketing$123B-5.5%▼-15.2%▼2.6%▼7.2%▼0.39x▲
BPBP · Oil & gas integrated$193B-1.1%▼5.4%▲6.6%▼6.4%▼1.09x▼
PSXPhillips 66 · Oil & gas refining & marketing$132B-7.5%▼108%▲––0.68x▼
EQNREquinor Asa · Oil & gas integrated$106B2.6%▲-42.7%▼23.8%▲–0.65x▼
CNQCanadian Natural Resources · Oil & gas E&PCAD 38.8B8.7%▲77.2%▲36.8%▲17%▲0.37x▲
ENBEnbridge · Oil & gas midstreamCAD 29.3B13.3%▲37.7%▲37.4%▲5.5%▼1.69x▼
SUSuncor Energy · Oil & gas integratedCAD 52.4B-4.6%▼-1.6%▲16.5%▲10.8%▲0.22x▲
WMBWilliams Companies · Oil & gas midstream$14.9B17.9%▲17.7%▲28.2%▲8%▼2.19x▼
EEni Spa · Oil & gas integratedEUR 82.2B-7.5%▼-0.2%▲6.1%▼–0.52x▼
EOGEOG Resources · Oil & gas E&P$22.6B-4.5%▼-22.2%▼28.2%▲13.6%▲0.27x▲
NGGNational Grid · Oil & gas midstreamGBP 17.7B-3.8%▼11.6%▲30.7%▲5.5%▼1.19x▼
EPDEnterprise Products Partners · Oil & gas midstream$52.6B-6.4%▼-1.5%▲13.8%▼11.2%▲–
KMIKinder Morgan · Oil & gas midstream$15.2B12.7%▲17%▲31.1%▲6.9%▼1.03x▼
SLBSLB · Oil & gas equipment & services$35.7B-1.6%▼-24.4%▼13.6%▼12.1%▲0.37x▲
TRGPTarga Resources · Oil & gas midstream$17.0B20.5%▲46.6%▲19.6%▲15.4%▲5.68x▼
OXYOccidental Petroleum · Oil & gas E&P$21.6B-5%▼-23%▼19.5%▲5.6%▼0.57x▼
CVECenovus Energy · Oil & gas integratedCAD 49.7B-8.4%▼25.1%▲10.2%▼8.8%▲0.70x▼
MPLXMPLX · Oil & gas midstream$9.7B5.8%▲13.7%▲61.1%▲14.9%▲–
FANGDiamondback Energy · Oil & gas E&P$15.0B35.8%▲-50.1%▼8.4%▼1.9%▼0.39x▲
DVNDevon Energy · Oil & gas E&P$16.8B5.4%▲-8.7%23.6%▲14.4%▲0.54x▼
BKRBaker Hughes · Oil & gas equipment & services$27.7B-0.3%▼-13.1%▼––0.32x▲
ECEcopetrol · Oil & gas E&PCOP 133.33T-6.9%▼-27.1%▼28.8%▲14.9%▲1.50x▼
EQTEQT · Oil & gas E&P$8.6B63.9%▲784%▲37.6%▲8.3%0.33x▲
PBAPembina Pipeline · Oil & gas equipment & servicesCAD 7.8B5.3%▲-9.6%▼36.1%▲8.4%▲0.70x▼
HALHalliburton · Oil & gas equipment & services$22.2B-3.3%▼-48.7%▼10.2%▼11.6%▲0.68x▼
FTITechnipFMC · Oil & gas equipment & services$9.9B9.4%▲14.4%▲14.5%▼27.6%▲0.13x▲
TPLTexas Pacific Land · Oil & gas E&P$798M13.1%▲6%▲74.2%▲38.2%▲–
DINOHF Sinclair · Oil & gas midstream$26.9B-6%▼227%▲3.5%▼6.6%▼0.30x▲
EXEExpand Energy · Oil & gas E&P$12.1B186%▲–20.4%▲9.7%▲0.27x▲
YPFYPF Sociedad Anonima · Oil & gas integrated$18.4B-4.4%▼-133%▼9.4%▼7.9%▼0.98x▼
PRPermian Resources · Oil & gas E&P$5.1B1.3%▼-5%▲28.9%▲9%▲0.34x▲
WESWestern Midstream Partners · Oil & gas midstream$3.8B6.6%▲-24.9%▼41.7%▲11.6%▲–
OVVOvintiv · Oil & gas E&P$8.7B-3.1%▼10.4%▲13.1%▼6.4%▼0.46x▲
PAAPlains All American Pipeline · Oil & gas midstream$44.3B-9.5%▼85.9%▲3.2%▼5.7%▼–
VNOMViper Energy · Oil & gas E&P$1.3B57.6%▲-119%▼-10.4%▼-1.1%▼0.49x▼
DTMDT Midstream · Oil & gas midstream$1.2B26.7%▲24.6%▲49.4%▲6.3%▼0.70x▼
ARAntero Resources · Oil & gas E&P$5.3B22%▲620%▲16.7%▲7.5%▼0.19x▲
PBFPBF Energy · Oil & gas refining & marketing$29.3B-11.4%▼–-0.2%▼-0.6%▼0.40x▲
SSLSASOL · Oil & gas E&PZAR 272B9.2%▲87.1%▲9.4%▼–0.58x▼
AMAntero Midstream · Oil & gas midstream$1.2B7.4%▲3.1%▲54.2%▲11.2%▲1.63x▼
RRCRange Resources · Oil & gas E&P$3.0B27.3%▲147%▲23.6%▲10.4%▲0.28x▲
KNTKKinetik · Oil & gas midstream$1.8B19%▲123%▲9.3%▼2.5%▼–
SMSM Energy · Oil & gas E&P$3.2B17.2%▲-15.8%▼31.7%▲12.4%▲0.48x▲
CHRDChord Energy · Oil & gas E&P$4.9B-7.1%▼-94.8%▼4%▼1.7%▼0.18x▲
VISTVista Energy, S.A.B. de C.V. · Oil & gas E&P$2.5B50.2%▲50.6%▲50.6%▲20.6%▲1.26x▼
SOBOSouth Bow · Oil & gas midstream$2.0B-6.3%▼37%▲36%▲7.3%▼–
SEISolaris Energy Infrastructure · Oil & gas equipment & services$622M98.7%▲90.8%▲21.8%▲6.8%▼0.33x▲
NENoble · Oil & gas drilling$3.3B7.4%▲-51.7%▼12.6%▼6.1%▼0.43x▲
MGYMagnolia Oil & Gas · Oil & gas E&P$1.3B-0.3%▼-11.1%▼33.5%▲16.8%▲0.20x▲
MTDRMatador Resources · Oil & gas E&P$3.7B5.1%▲-14.2%▼33.5%▲11.5%▲0.60x▼
NOVNOV · Oil & gas equipment & services$8.7B-1.4%▼-77.2%▼5.6%▼5.6%▼0.27x▲
PAGPPlains GP · Oil & gas midstream$44.3B-9.5%▼152%▲3.2%▼5.4%▼–
LBLandBridge · Oil & gas E&P$199M81.1%▲490%▲59.5%▲8.8%▲1.65x▼
HESMHess Midstream · Oil & gas E&P$1.6B8.4%▲58.2%▲62.2%▲24%▲–
RIGTransocean · Oil & gas drilling$4.0B12.5%▲–-58.9%▼-16.3%▼0.70x▼
CVICVR Energy · Oil & gas refining & marketing$7.2B-5.9%▼286%▲2.5%▼6.1%▼2.33x▼
VALValaris · Oil & gas drilling$12M24%▲163%▲4008%▲10.3%▲0.34x▲
MURMurphy Oil · Oil & gas E&P$2.7B-10.9%▼-74.4%▼11.2%▼3.4%▼0.25x▲
WFRDWeatherford International · Oil & gas equipment & services$4.9B-10.8%▼-14.8%▼15.4%▲20.7%▲0.83x▼
CLMTCalumet · Oil & gas refining & marketing$4.1B-1.2%▼–2.6%▼5.9%▼–
CRGYCrescent Energy · Oil & gas E&P$3.6B22.1%▲–6.4%▼2.1%▼1.07x▼
KGSKodiak Gas Services · Oil & gas midstream$1.3B12.8%▲61.4%▲26%▲8.6%▲2.12x▼
DKDelek US · Oil & gas refining & marketing$10.7B-9.5%▼–2.8%▼7%▼5.91x▼
CRCCalifornia Resources · Oil & gas E&P$2.9B14.7%▲-3.5%▲20.5%▲9.4%▲0.35x▲
IEPIcahn Enterprises · Oil & gas refining & marketing$9.7B-3.6%▼–-3.6%▼––
PARRPar Pacific · Oil & gas E&P$7.5B-6.4%▼–7.2%▼19.8%▲0.53x▼
WHDCactus · Oil & gas equipment & services$1.1B-4.5%▼-10.5%▼23.2%▲14.7%▲0.00x▲
PTENPatterson Uti Energy · Oil & gas drilling$4.8B-9.8%▼–-0.9%▼-0.9%▼0.38x▲
OIIOceaneering International · Oil & gas equipment & services$2.6B4.1%▲140%▲11.5%▼16%▲0.46x▲
CRKComstock Resources · Oil & gas E&P$2.2B77%▲–29.1%▲10.3%▲1.06x▼
TGSGas Transporter of the South · Oil & gas midstreamARS 1.72T7.2%▲-13.6%▼40.9%▲14.2%▲0.55x▼
HPHelmerich & Payne · Oil & gas drilling$3.7B34%▲-148%▼0.1%▼0.1%▼0.73x▼
VVVValvoline · Oil & gas refining & marketing$1.7B5.6%▲-0.4%▲22.8%▲16.8%▲3.17x▼
WBIWaterBridge Infrastructure LLC · Oil & gas equipment & services$526M66.2%▲-99.7%▼15%2.2%▼2.40x▼
BTEBaytex Energy · Oil & gas drillingCAD 1.5B-8.2%▼-355%▼0.6%▼0.3%▼–
DKLDelek Logistics Partners · Oil & gas midstream$1.0B7.7%▲23.7%▲17.9%▲7.5%▼–
ARLPAlliance Resource Partners · Coal$2.2B-10.4%▼-13.8%▼17.6%▲14.5%▲–
BSMBlack Stone Minerals · Oil & gas E&P$422M-3.9%▼10.5%▲73%▲23.5%▲–
SDRLSeadrill · Oil & gas drilling$1.1B7.9%▲-117%▼4.3%▼1.3%▼0.21x▲
GPORGulfport Energy · Oil & gas E&P$1.4B48.5%▲–42.2%▲22.5%▲0.43x▲
LBRTLiberty Energy · Oil & gas equipment & services$4.0B-7.2%▼-53.2%▼1.8%▼2.6%▼0.12x▲
BTUPeabody Energy · Coal$3.9B-8.9%▼-111%▼-2.1%▼-1.6%▼0.09x▲
TALOTalos Energy · Oil & gas E&P$1.8B-9.8%▼–-31.5%▼-11.4%▼0.57x▼
NOGNorthern Oil & Gas · Oil & gas E&P$2.5B11.2%▲-92.6%▼9.9%▼5%▼1.13x▼
DNOWDNOW · Oil & gas equipment & services$2.8B18.8%▲-214%▼-3.3%▼-3.2%▼0.18x▲
KWRQuaker Chemical · Oil & gas refining & marketing$1.9B2.7%▲-102%▼2.8%▼2.2%▼0.63x▼
WTTRSelect Water Solutions · Oil & gas equipment & services$1.4B-3.1%▼-30.7%▼2%▼2.1%▼0.39x▲
BKVBKV · Oil & gas E&P$1.1B41.6%▲–26.6%▲9%▲0.57x▼
HOSHornbeck Offshore Services · Oil & gas equipment & services$1.3B-4.9%▼-44.6%▼5%▼2.8%▼0.19x▲
AMRAlpha Metallurgical Resources · Coal$2.1B-28%▼-133%▼-2.9%▼-3%▼0.00x▲
KRPKimbell Royalty Partners · Oil & gas E&P$334M7.9%▲800%▲39.8%▲10.9%▲–
FLOCFlowco · Oil & gas equipment & services$342M32.2%▲-48.4%▼43.6%▲9.5%▲0.73x▼
NESRNational Energy Services Reunited · Oil & gas equipment & services$1.3B1.7%▼-33%▼7.4%▼7.9%▼0.26x▲

▲ better than the median, ▼ worse. n/a: the ratio doesn't apply to that kind of business (e.g. a bank's operating margin). Sort by any column. Figures from each company's latest 10-K (or 20-F/40-F).