EOG Resources, Inc. explores for, develops, produces and markets crude oil, natural gas liquids and natural gas. The company's operations are located in major producing basins in the United States, including the Delaware Basin, South Texas, the Appalachian Basin and the Rocky Mountain area, with additional operations offshore Trinidad and onshore Bahrain and the United Arab Emirates.
| Income statement · $ millions | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
| Total revenues | 22,632 | 23,698 | 24,186 | 3 |
| · Crude Oil and Condensate | 12,501 | — | — | |
| · Gathering, Processing and Marketing | 4,914 | — | — | |
| · Natural Gas | 2,791 | — | — | |
| · Natural Gas Liquids | 2,376 | — | — | |
| Selling, general and administrative | 820 | 669 | 640 | |
| Depreciation, depletion and amortization | 4,461 | 4,108 | 3,492 | |
| Total operating expenses | 16,247 | 15,616 | 14,583 | |
| Operating income | 6,385 | 8,082 | 9,603 | 1 |
| Interest expense | 235 | 138 | 148 | 1 |
| Other income (expense), net | 212 | 274 | 234 | |
| Income before income taxes | 6,362 | 8,218 | 9,689 | |
| Income tax provision | 1,382 | 1,815 | 2,095 | 1 |
| — of which current | 1,039 | 1,348 | 1,415 | 1 |
| Net income attributable to common | 4,980 | 6,403 | 7,594 | 2 |
| Diluted earnings per share | $9.12 | $11.25 | $13.00 | |
| Weighted-average diluted shares | 546 | 569 | 584 |
| Cash flow · $ millions | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
| Net income incl. noncontrolling interests | 4,980 | 6,403 | 7,594 | |
| Depreciation, depletion and amortization | 4,461 | 4,108 | 3,492 | |
| Share-based compensation | 216 | 199 | 177 | |
| Deferred income taxes | 343 | 467 | 683 | |
| Change in receivables | (300) | (101) | 38 | |
| Change in inventories | 49 | (259) | 231 | |
| Change in payables | (271) | (36) | (119) | |
| Net cash provided by operating activities | 10,044 | 12,143 | 11,340 | 3 |
| Acquisitions, net of cash | 4,451 | 0 | 0 | |
| Net cash used in investing activities | (10,936) | (5,967) | (6,340) | 1 |
| Repurchases of common stock | 2,564 | 3,246 | 1,038 | |
| Debt issued | 4,471 | 985 | 0 | |
| Debt repaid | 2,516 | 0 | 1,250 | |
| Net cash used in financing activities | (2,804) | (4,361) | (5,694) | |
| Cash and equivalents at end of period | 3,396 | 7,092 | 5,278 |
| Balance sheet · $ millions | 2025 | 2024 | |
|---|---|---|---|
| Cash and cash equivalents | 3,396 | 7,092 | |
| Receivables, net | 2,681 | 2,650 | 1 |
| Inventories | 1,014 | 985 | 1 |
| Total current assets | 7,656 | 11,230 | |
| Property, plant and equipment, net | 42,341 | 34,212 | |
| Total assets | 51,799 | 47,186 | |
| Accounts payable | 2,904 | 2,464 | |
| Current debt | 27 | 532 | 1 |
| Total current liabilities | 4,691 | 5,354 | |
| Long-term debt | 7,909 | 4,220 | 1 |
| Stockholders' equity | 29,833 | 29,351 | |
| Total equity | 29,833 | 29,351 | 1 |
| Segments · as filed in the segment note · $ millions | United States | Trinidad | Other International | Consolidated |
|---|---|---|---|---|
| Net sales | 22,269 | 359 | 4 | 22,632 |
| Operating income | 6,423 | 48 | (86) | 6,385 |
| · operating margin | 28.8% | 13.4% | -2150.0% | 28.2% |
| Depreciation & amortization | 4,305 | 155 | 1 | 4,461 |
| Assets | 50,309 | 1,192 | 298 | 51,799 |
| Revenue by product or service · as filed · $ millions | FY2025 | Share |
|---|---|---|
| Crude Oil and Condensate | 12,501 | 55.2% |
| Gathering, Processing and Marketing | 4,914 | 21.7% |
| Natural Gas | 2,791 | 12.3% |
| Natural Gas Liquids | 2,376 | 10.5% |
| Total revenues, as filed | 22,632 | 100.0% |
Product lines sum to the filed total.
No geographic revenue tagged.
Lines render when they sum to the filed total within 0.5 percent. A reconciling line the company filed closes the gap at any size, and the table is split: every line shown is filed, nothing is implied. A computed line, the filed total less the lines shown, closes up to 5 percent of the total; beyond that the table is partial and says so. Members that add to more than the filed total are a conflict and are not shown. The tolerance is 0.5 percent of the filed total or 2 million dollars, whichever is larger; for a filed total under 400 million dollars the floor is the binding one and the table says within tolerance. Every figure is as filed, in millions of dollars; shares are arithmetic on filed lines.
| Largest FY/FY moves · $ millions, ranked by |Δ| | FY2025 | FY2024 | Δ $ | Δ % | Reading |
|---|---|---|---|---|---|
| Property, plant and equipment, net · BS | 42,341 | 34,212 | +8,129 | +23.8% | — |
| Net cash used in investing activities · CF | (10,936) | (5,967) | −4,969 | -83.3% | ◐ outsized |
| Total assets · BS | 51,799 | 47,186 | +4,613 | +9.8% | — |
| Cash and equivalents at end of period · CF | 3,396 | 7,092 | −3,696 | -52.1% | ◐ outsized |
| Cash and cash equivalents · BS | 3,396 | 7,092 | −3,696 | -52.1% | ◐ outsized |
| Long-term debt · BS | 7,909 | 4,220 | +3,689 | +87.4% | ◐ outsized |
| Total current assets · BS | 7,656 | 11,230 | −3,574 | -31.8% | — |
| Debt issued · CF | 4,471 | 985 | +3,486 | +353.9% | ◐ outsized |
| Net cash provided by operating activities · CF | 10,044 | 12,143 | −2,099 | -17.3% | — |
| Income before income taxes · IS | 6,362 | 8,218 | −1,856 | -22.6% | — |
| Operating income · IS | 6,385 | 8,082 | −1,697 | -21.0% | — |
| Net cash used in financing activities · CF | (2,804) | (4,361) | +1,557 | +35.7% | — |
| Net income attributable to common · IS | 4,980 | 6,403 | −1,423 | -22.2% | — |
| Net income incl. noncontrolling interests · CF | 4,980 | 6,403 | −1,423 | -22.2% | — |
| Business quality — Buffett/Munger screen · deterministic · not part of the filing score | Value | Reading |
|---|---|---|
| Return on equity net income ÷ average of start- and end-of-year equity | 16.8% sector median 14.3% | strong |
| Share count, year-end (year-end shares − prior year-end) ÷ prior year-end | +0.0% sector median +0.0% | flat |
| Debt to equity (current debt + long-term debt) ÷ year-end equity | 0.27 sector median 0.49 | low |
| FCF consistency operating cash flow − capital expenditure, per year | n/a | insufficient data |
| Margin stability pre-tax income ÷ revenue, swing across up to five years | pre-tax margin 28.1% sector median 14.6% | cyclical |
| Quarterly · as filed in 10-Q/10-K · $ millions | MAR 25 | JUN 25 | SEP 25 | MAR 26 | JUN 26 |
|---|---|---|---|---|---|
| Total revenues | 5,669 | 5,478 | 5,847 | 6,921 | 8,620 |
| Selling, general and administrative | 171 | 186 | 239 | 185 | 213 |
| Depreciation, depletion and amortization | 1,013 | 1,053 | 1,169 | 1,193 | 1,259 |
| Total operating expenses | 3,810 | 3,731 | 4,011 | 4,323 | 5,092 |
| Operating income | 1,859 | 1,747 | 1,836 | 2,598 | 3,528 |
| Interest expense | 47 | 51 | — | 66 | 67 |
| Other income (expense), net | 65 | 55 | 59 | 23 | 38 |
| Income before income taxes | 1,877 | 1,751 | 1,824 | 2,555 | 3,499 |
| Income tax provision | 414 | 406 | 353 | 575 | 775 |
| Net income attributable to common | 1,463 | 1,345 | 1,471 | 1,980 | 2,724 |
| Diluted earnings per share | $2.65 | $2.46 | $2.70 | $3.70 | $5.15 |
| Weighted-average diluted shares | 553 | 546 | 544 | 535 | 529 |
| Net cash provided by operating activities | 2,289 | — | — | 2,966 | — |
| Largest QoQ moves · latest vs prior filed quarter | Prior | Latest | Δ $ | Δ % |
|---|---|---|---|---|
| Total revenues | 6,921 | 8,620 | +1,699 | +24.5% |
| Income before income taxes | 2,555 | 3,499 | +944 | +36.9% |
| Operating income | 2,598 | 3,528 | +930 | +35.8% |
| Total operating expenses | 4,323 | 5,092 | +769 | +17.8% |
| Net income attributable to common | 1,980 | 2,724 | +744 | +37.6% |
| Net cash provided by operating activities | 2,289 | 2,966 | +677 | +29.6% |
| Income tax provision | 575 | 775 | +200 | +34.8% |
| Depreciation, depletion and amortization | 1,193 | 1,259 | +66 | +5.5% |
| Ownership — insiders & floatForm 4 + 10-K cover · open-market trades only | Value | Reading |
|---|---|---|
| Public float | $65,231M | 10-K cover · as of 2025-06-30 |
| Insider Form 4s, 90d | 20 filings · 0 buys / 2 sells | net selling · −$6,552,398 |
| · Yacob Ezra Y | SELL $5,466,670 | Form 4 filed 2026-08-25 · open market |
| · Donaldson Michael P | SELL $1,085,728 | Form 4 filed 2026-09-14 · open market |
| Insider ownership % | 0.1% | directors & officers as a group · DEF 14A filed 2026-03-27 |
| Institutional % | — | needs 13F aggregation — not read yet, never estimated |
Not investment advice. DHI Signal publishes impersonal, rules-based research; no recommendation to buy or sell any security is made or implied. Every statement figure is transcribed from EOG Resources's Form 10-K for FY2025 (accession 0000821189-26-000054), pulled from EDGAR XBRL. Derived measures are computed only from lines shown on this page and the arithmetic is displayed so it can be checked. EOG is not in the tracked book. Market posture attaches only when the dashboard feed carries the name; this page computes none of it.