EOG Resources, Inc. (EOG) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+69.6%

$268.17

vs $158.16 price

Levered DCF

$290.56

After debt service

Piotroski score

8 / 9

Strong

Altman Z-score

4.26

Safe zone

Rating

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	11.46×	10.84×	9.25×	9.73×	11.06×	-47.95×	17.71×	14.71×
P/B	1.9×	2.36×	2.5×	3.05×	2.33×	1.42×	2.24×	2.6×
P/S	2.5×	2.97×	3.03×	2.56×	2.62×	2.92×	2.86×	2.93×
EV / EBITDA	5.26×	5.4×	5.19×	5.54×	5.36×	11.27×	6.64×	6.92×
Gross margin	62.0%	75.7%	78.7%	83.5%	72.8%	50.2%	67.0%	70.0%
Operating margin	28.2%	34.6%	41.4%	33.8%	31.0%	-5.5%	21.8%	26.0%
Net margin	22.0%	27.4%	32.8%	26.3%	23.7%	-6.1%	16.1%	19.9%
Current ratio	1.63×	2.1×	2.44×	1.9×	2.12×	1.69×	1.18×	1.36×
Debt / equity	0.28×	0.17×	0.15×	0.24×	0.27×	0.33×	0.26×	0.31×
Interest coverage	29.02×	58.57×	64.89×	55.68×	34.28×	-2.65×	19.99×	18.24×
Dividend yield	3.8%	3.0%	4.8%	6.8%	5.2%	2.8%	1.2%	0.9%
Payout ratio	43.4%	32.6%	44.6%	66.3%	57.5%	-135.7%	21.5%	12.8%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	16.7%	21.8%	27.0%	31.3%	21.0%	-3.0%	12.6%	17.7%
Return on invested capital	10.5%	14.8%	18.7%	20.9%	13.9%	-1.3%	8.4%	11.6%
Return on assets	9.6%	13.6%	17.3%	18.8%	12.2%	-1.7%	7.4%	10.1%
Free cash flow yield	6.1%	8.3%	7.3%	8.1%	9.6%	5.3%	3.6%	3.4%
Earnings yield	8.8%	9.2%	10.8%	10.3%	9.0%	-2.1%	5.7%	6.8%
Enterprise value	$61.6B	$67.4B	$69.2B	$75.5B	$52.3B	$32.3B	$51.9B	$54.8B
Net debt / EBITDA	0.43×	-0.16×	-0.08×	-0×	0.07×	1.19×	0.45×	0.57×
Cash conversion cycle (days)	-37	-54	-43	-75	-70	-21	-62	-48