Latest Ratios: P/E Ratio 14.8x · EV/EBITDA 6.1x · ROE 16.8%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $71.7B | $56.6B | $69.7B | $70.6B | $76.0B | $51.9B | $28.9B | $48.6B | $50.6B | $62.4B | $55.9B |
| Enterprise Value | $76.7B | $61.6B | $67.7B | $69.5B | $76.0B | $52.6B | $32.3B | $52.2B | $55.1B | $68.0B | $61.3B |
| P/E Ratio → | 14.77 | 11.53 | 10.90 | 9.30 | 9.80 | 11.12 | — | 17.78 | 14.81 | 24.20 | — |
| P/S Ratio | 3.18 | 2.51 | 2.98 | 3.05 | 2.58 | 2.64 | 2.92 | 2.87 | 2.95 | 5.57 | 7.50 |
| P/B Ratio | 2.43 | 1.90 | 2.38 | 2.51 | 3.07 | 2.34 | 1.42 | 2.25 | 2.61 | 3.84 | 4.00 |
| P/FCF | 18.24 | 14.41 | 12.09 | 13.70 | 12.48 | 10.50 | 18.71 | 27.95 | 29.91 | 442.60 | — |
| P/OCF | 7.13 | 5.64 | 5.74 | 6.23 | 6.85 | 5.90 | 5.77 | 5.96 | 6.52 | 14.64 | 23.72 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.73 | 2.90 | 3.00 | 2.58 | 2.67 | 3.27 | 3.08 | 3.21 | 6.07 | 8.22 |
| EV / EBITDA | 6.05 | 4.86 | 5.56 | 5.31 | 5.63 | 5.39 | 11.31 | 7.00 | 6.98 | 15.68 | 26.35 |
| EV / EBIT | 9.67 | 9.40 | 8.10 | 7.07 | 7.54 | 8.60 | — | 13.98 | 12.29 | 72.68 | — |
| EV / FCF | — | 15.69 | 11.74 | 13.48 | 12.48 | 10.64 | 20.93 | 29.97 | 32.59 | 481.95 | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 68.1% | 68.1% | 75.7% | 78.7% | 83.5% | 72.8% | 50.2% | 67.0% | 70.0% | 58.9% | 38.3% |
| Operating Margin | 35.1% | 35.1% | 34.6% | 41.4% | 33.8% | 31.0% | -5.5% | 21.8% | 26.0% | 8.3% | -16.4% |
| Net Profit Margin | 22.1% | 22.1% | 27.4% | 32.8% | 26.3% | 23.7% | -6.1% | 16.1% | 19.9% | 23.0% | -14.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 16.8% | 16.8% | 22.3% | 28.7% | 33.0% | 22.0% | -2.9% | 13.3% | 19.2% | 17.1% | -8.1% |
| ROA | 10.1% | 10.1% | 14.1% | 17.8% | 19.5% | 12.6% | -1.7% | 7.7% | 10.7% | 8.7% | -3.9% |
| ROIC | 19.1% | 19.1% | 22.3% | 27.8% | 31.4% | 19.6% | -1.7% | 11.3% | 14.7% | 3.4% | -4.8% |
| ROCE | 17.6% | 17.6% | 19.8% | 25.4% | 28.5% | 18.3% | -1.7% | 11.8% | 15.6% | 3.4% | -4.7% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.28 | 0.28 | 0.17 | 0.15 | 0.24 | 0.27 | 0.33 | 0.26 | 0.31 | 0.39 | 0.50 |
| Debt / EBITDA | 0.66 | 0.66 | 0.42 | 0.32 | 0.44 | 0.61 | 2.36 | 0.74 | 0.77 | 1.47 | 3.00 |
| Net Debt / Equity | — | 0.17 | -0.07 | -0.04 | -0.00 | 0.03 | 0.17 | 0.16 | 0.23 | 0.34 | 0.39 |
| Net Debt / EBITDA | 0.40 | 0.40 | -0.17 | -0.09 | -0.00 | 0.07 | 1.20 | 0.47 | 0.57 | 1.28 | 2.31 |
| Debt / FCF | — | 1.28 | -0.35 | -0.22 | -0.00 | 0.14 | 2.22 | 2.02 | 2.68 | 39.36 | — |
| Interest Coverage | 29.82 | 29.82 | 60.55 | 66.47 | 56.31 | 34.33 | -2.60 | 20.16 | 18.31 | 3.41 | -4.53 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.92 | 1.92 | 2.10 | 2.44 | 1.90 | 2.12 | 1.69 | 1.18 | 1.36 | 1.20 | 1.75 |
| Quick Ratio | 1.64 | 1.64 | 1.91 | 2.13 | 1.71 | 1.98 | 1.51 | 1.00 | 1.13 | 1.03 | 1.58 |
| Cash Ratio | 0.92 | 0.92 | 1.32 | 1.30 | 1.08 | 1.29 | 0.96 | 0.45 | 0.42 | 0.31 | 0.79 |
| Asset Turnover | — | 0.44 | 0.50 | 0.53 | 0.71 | 0.51 | 0.28 | 0.46 | 0.51 | 0.38 | 0.25 |
| Inventory Turnover | 7.10 | 7.10 | 5.77 | 3.88 | 4.61 | 9.15 | 7.83 | 7.29 | 6.00 | 9.51 | 13.15 |
| Days Sales Outstanding | — | 43.36 | 41.37 | 42.76 | 35.53 | 43.33 | 57.11 | 46.39 | 49.79 | 55.73 | 60.09 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 3.0% | 3.8% | 3.0% | 4.8% | 6.8% | 5.2% | 2.8% | 1.2% | 0.9% | 0.6% | 0.7% |
| Payout Ratio | 43.4% | 43.4% | 32.6% | 44.6% | 66.3% | 57.5% | — | 21.5% | 12.8% | 15.0% | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.8% | 8.7% | 9.2% | 10.7% | 10.2% | 9.0% | — | 5.6% | 6.8% | 4.1% | — |
| FCF Yield | 5.5% | 6.9% | 8.3% | 7.3% | 8.0% | 9.5% | 5.3% | 3.6% | 3.3% | 0.2% | — |
| Buyback Yield | 3.6% | 4.5% | 4.7% | 1.5% | 0.2% | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% |
| Total Shareholder Yield | 6.6% | 8.3% | 7.6% | 6.3% | 6.9% | 5.3% | 2.9% | 1.3% | 1.0% | 0.7% | 0.8% |
| Shares Outstanding | — | $539M | $569M | $584M | $587M | $584M | $579M | $581M | $580M | $579M | $553M |
Commodity price volatility exposure
Based on current market data, EOG trades at a forward P/E of 7.65, which, when compared to the broader peer group, suggests that investors are pricing in a premium for the company's organic inventory depth and its historical ability to avoid dilutive, high-cost corporate acquisitions.
The valuation multiple appears to reflect a market preference for EOG's decentralized exploration model over the inorganic growth strategies pursued by competitors. While the forward P/E is relatively low, it implies that the market remains cautious regarding long-term commodity price sustainability, warranting further investigation into whether the current valuation adequately captures the optionality of the Dorado gas play.
As reported in financial statements, EOG's ROIC has fluctuated between 4.3% and 7.0% over the last ten quarters, a trend that highlights the company's disciplined adherence to 'premium' well hurdles despite the inherent volatility of global oil and gas benchmark pricing throughout the observed period.
The consistency of these returns, even during periods of commodity price weakness, suggests that EOG's internal geological prospecting provides a structural advantage in maintaining profitability. Investors should monitor whether the recent expansion into the Utica and Dorado plays dilutes these returns or provides a new, durable foundation for long-term capital compounding.
According to recent quarterly filings, EOG's cash conversion cycle has exhibited significant volatility, swinging from -16 days in 2024Q1 to -91 days in 2026Q1, which indicates that the company's working capital efficiency is heavily influenced by the timing of production cycles and supply chain management.
The negative cash conversion cycle suggests that EOG effectively utilizes its scale to manage supplier payment terms, yet the extreme fluctuations warrant further investigation into potential operational bottlenecks. This volatility may mask underlying trends in inventory management, particularly as the company integrates new exploration plays into its existing production infrastructure.
Based on reported figures, EOG maintains a conservative debt-to-equity ratio of 0.27 as of 2026Q1, a level that provides substantial financial flexibility and suggests that the company is well-positioned to navigate potential industry downturns without the refinancing risks that currently constrain more levered upstream competitors.
The company's interest coverage ratio, which remains robust at 39.36, further underscores the strength of its balance sheet and its ability to service debt obligations even under stressed commodity price scenarios. This financial discipline appears to be a core component of EOG's strategy, allowing it to prioritize shareholder returns through dividends and buybacks.
The price-to-earnings ratio is frequently misapplied to EOG's business model, as it fails to account for the significant non-cash DD&A charges and commodity derivative adjustments that often distort reported net income, thereby obscuring the company's true underlying cash-generating capacity and operational efficiency.
Analysts should instead prioritize free cash flow yield or EV/EBITDA, as these metrics better reflect the cash-on-cash returns generated by the company's 'premium' well inventory. Relying solely on P/E may lead to an incomplete assessment of EOG's ability to fund its capital-intensive exploration program while simultaneously returning excess capital to shareholders.
Includes 30+ ratios · 30 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying EOG stock.
EOG Resources, Inc.'s current P/E ratio is 14.8x. The historical average is 25.8x. This places it at the 44th percentile of its historical range.
EOG Resources, Inc.'s current EV/EBITDA is 6.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 8.3x.
EOG Resources, Inc.'s return on equity (ROE) is 16.8%. The historical average is 15.9%.
Based on historical data, EOG Resources, Inc. is trading at a P/E of 14.8x. This is at the 44th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
EOG Resources, Inc.'s current dividend yield is 2.98% with a payout ratio of 43.4%.
EOG Resources, Inc. has 68.1% gross margin and 35.1% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
EOG Resources, Inc.'s Debt/EBITDA ratio is 0.7x, indicating low leverage. A ratio below 2x is generally considered financially healthy.