Common-Size Income Statement
Quarterly Data
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- Income Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Short-term (Operating) Activity Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Present Value of Free Cash Flow to Equity (FCFE)
- Net Profit Margin since 2005
- Operating Profit Margin since 2005
- Current Ratio since 2005
- Price to Earnings (P/E) since 2005
- Price to Sales (P/S) since 2005
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EOG Resources Inc., common-size consolidated income statement (quarterly data)
Based on: 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31).
- Revenue Composition Trends
- Crude oil and condensate consistently represent the largest portion of operating revenues, fluctuating between approximately 52% and 59% throughout the periods, with a slight downward trend noted in late 2018 before rising again in 2019. Natural gas liquids show moderate variability, peaking around mid-2018 and declining thereafter. Natural gas’s share gradually decreases over time, indicating a reduced contribution to total revenues. Gains or losses on mark-to-market commodity derivative contracts exhibit volatility, with alternating positive and negative impacts, suggesting exposure to commodity price fluctuations. Gathering, processing, and marketing revenues generally increase, reaching their highest shares in 2018 and 2019, reflecting possible growth in these segments.
- Cost Structure and Operating Expenses
- Lease and well costs relative to operating revenues demonstrate a marked improvement, reducing consistently from around -18% in early 2016 to approximately -7.7% by the end of 2019. Transportation costs follow a similar trend with a steady decline in costs as a percentage of revenues, reaching about -4.8% by late 2019. Gathering and processing costs show slight fluctuations but remain relatively stable around -2% to -3%. Overall, the cost of operating revenues declines from near -34% in early 2016 to mid-teens percentages by the end of 2019, indicating improved operational efficiencies or cost containment.
- Profitability and Income Measures
- Gross profit margins improve steadily over the period, rising from near 66% in early 2016 to consistently above 80% from 2017 onward. Operating income exhibits significant volatility early on, with negative results in 2015-2016, but progressively moves into positive territory during 2017 and thereafter, peaking above 30% towards the end of 2018. The net income trend follows a similar pattern, showing deep losses initially but turning positive and well above zero by 2017, albeit with some variability. This recovery suggests strengthened profitability driven by cost reductions and increased revenues in higher-margin segments.
- Exploration and Impairment Costs
- Exploration costs remain relatively low and stable, generally below -2% of operating revenues, with some minor fluctuations. Dry hole costs are negligible or very slight, indicating controlled risk in exploration activities. Impairments show a notable spike during 2015 Q3, indicating a significant write-down or asset impairment event early in the dataset, followed by smaller but irregular impairments in subsequent periods. The reduction in impairment magnitude over time aligns with improved asset management or market conditions.
- Other Expenses and Income
- Marketing costs maintain a consistent share around -25% to -33%, with a slight increase in 2018, which may suggest higher marketing activities or costs during that period. Depreciation, depletion, and amortization (DD&A) expenses decline substantially over time, particularly from above -60% in early 2016 to closer to -20% by 2019, contributing positively to improved income measures. General and administrative expenses reduce steadily from near -7.4% in early 2016 to below -3% by end-2019, emphasizing tighter control over corporate overhead. Taxes other than income remain relatively consistent, fluctuating narrowly around -4% to -5%.
- Financial Expenses and Income Taxes
- Interest expense decreases notably over the reporting periods, falling from over -5% in early 2016 to below -1% by 2019, indicating reduced debt burden or better financing conditions. Income tax provisions vary, occasionally showing benefits (negative tax) that likely reflect deferred tax assets or adjustments, but generally stabilize around -4% to -5% in the latter years.
- Summary of Financial Performance Trends
- The data reflect a period of significant recovery and operational improvement following distress observed in 2015-2016. Operating and net income margins transition from negative or highly volatile results to stable and positive profitability from 2017 onward. Cost efficiencies are evident across multiple categories, particularly lease and well costs, transportation, DD&A, and general administrative expenses. Revenue composition shifts modestly, but crude oil remains the dominant revenue driver. The volatility in derivative contract gains/losses and impairments underscores exposure to commodity price fluctuations and asset revaluation risk, which appear better managed over time. Overall, the trends suggest enhanced operational resilience and effective expense management driving stronger financial results.