EOG Resources Inc. (NYSE:EOG)

Current Assets

The current assets demonstrated an overall increasing trend throughout the analyzed period. Beginning at approximately 2.59 billion USD in 2015, there was a notable increase to about 3.55 billion USD in 2016. This was followed by a slight decline to roughly 3.28 billion USD in 2017. Subsequently, a significant rise occurred in 2018, with current assets reaching an estimated 5.06 billion USD, and a further slight increase to approximately 5.27 billion USD by the end of 2019.

Adjusted Current Assets

The adjusted current assets mirrored the trend seen in the total current assets over the years. Starting at approximately 2.44 billion USD in 2015, they increased to around 3.39 billion USD in 2016, then experienced a slight decrease to roughly 3.28 billion USD in 2017. Following this, adjusted current assets increased significantly to approximately 5.06 billion USD in 2018, with a marginal further rise to about 5.27 billion USD in 2019.

General Observations

Both current and adjusted current assets show strong growth from 2017 onwards, indicating an improvement in the company’s liquidity position or asset management during this period. The decline observed in 2017 may reflect a short-term adjustment or business activity before the subsequent substantial increases. The close alignment between current assets and adjusted current assets suggests that the adjustments had minimal impact on the overall asset base, implying consistency in the company's accounting or asset valuation methodologies during the periods concerned.

The analysis of the provided annual financial data reveals a consistent upward trend in the total assets and adjusted total assets over the five-year period from 2015 to 2019.

Total assets

Total assets increased steadily each year, starting at approximately 26.98 billion US dollars in 2015, rising to about 29.46 billion in 2016, then to roughly 29.83 billion in 2017. The growth accelerated in 2018, reaching approximately 33.93 billion, and continued to increase significantly to approximately 37.12 billion in 2019. This represents a total increase of about 37.6% over the five years.

Adjusted total assets

Adjusted total assets followed a similar growth pattern, beginning at approximately 27.18 billion in 2015 and increasing each subsequent year: about 29.61 billion in 2016, 30.20 billion in 2017, 34.43 billion in 2018, and reaching approximately 37.12 billion in 2019. The growth rate closely mirrored that of the reported total assets, indicating consistent adjustments relative to reported values without significant divergence. This stability suggests accurate alignment between adjusted and reported asset values over time.

Overall, the data indicates strong asset growth throughout the period, reflecting expansion or increased capitalization. The parallel movement of adjusted total assets with total assets suggests consistent adjustments and accounting policies applied across the years.

The financial data over the period from December 31, 2015, to December 31, 2019, reveals several trends related to the liabilities of the company.

Total liabilities

The total liabilities showed a general upward trend over the five years. Starting at approximately 14.03 billion US dollars at the end of 2015, the liabilities increased to about 15.48 billion by the end of 2016. This was followed by a decline in 2017, where liabilities dropped to approximately 13.55 billion US dollars. However, the total liabilities rose again in 2018 and 2019, reaching their peak within this period at approximately 15.48 billion US dollars in 2019, essentially returning to the 2016 level after the dip in 2017.

Adjusted total liabilities

Adjusted total liabilities followed a somewhat different and less volatile pattern than total liabilities. There was a steady increase from 9.81 billion US dollars in 2015 to around 10.61 billion in 2016. The figure then remained relatively stable over the next years, fluctuating slightly but staying within a narrow range between approximately 10.41 billion and 10.66 billion US dollars from 2017 to 2019. This stability suggests that the adjustments made to total liabilities affect the volatility and provide a more consistent measure over time.

The financial data indicates a consistent upward trend in both stockholders’ equity and adjusted stockholders’ equity from 2015 to 2019.

Stockholders’ equity

Stockholders’ equity increased steadily each year, rising from approximately 12.94 billion USD in 2015 to around 21.64 billion USD in 2019. This represents a significant growth over the five-year period, reflecting a strengthening in the company’s net asset base.

Adjusted stockholders’ equity

Adjusted stockholders’ equity also showed a continuous increase over the period, starting at approximately 17.38 billion USD in 2015 and reaching roughly 26.68 billion USD by the end of 2019. The growth trend here is consistent and robust, with values consistently higher than the reported stockholders’ equity, possibly accounting for certain adjustments that provide a broader measure of equity.

Overall, the data reveals a pattern of sustained growth in equity measures, which may indicate positive financial management and increased value retention or accumulation within the company over this time frame.

The financial data indicates several notable trends over the five-year period ending December 31, 2019.

Debt Levels

Total reported debt demonstrates a gradual decline, decreasing from approximately $6.66 billion in 2015 to about $5.18 billion in 2019. Adjusted total debt similarly decreases, from roughly $7.02 billion to about $5.97 billion over the same period. This downward trend reflects a reduction in the company's leverage or an effort to deleverage its balance sheet gradually.

Equity Growth

Stockholders’ equity shows consistent and significant growth, increasing from approximately $12.94 billion in 2015 to $21.64 billion in 2019. Adjusted stockholders’ equity also rises from approximately $17.38 billion to $26.68 billion. This increase highlights an expanding equity base, potentially from retained earnings, capital infusions, or appreciated asset values.

Total Capital

Total reported capital, which combines debt and equity, increases steadily from about $19.60 billion in 2015 to around $26.82 billion in 2019. The adjusted total capital follows a similar upward trajectory, growing from approximately $24.40 billion to nearly $32.66 billion. This indicates overall growth in the company's financing and investment capacity.

Overall Capital Structure

The combined observations suggest a strengthening financial position. The reduction in debt alongside substantial equity growth implies improved financial stability and possibly enhanced creditworthiness. The steady rise in total capital indicates the company is expanding its asset base and investment potential while managing debt levels prudently.

The financial data reveals notable fluctuations in both net income and adjusted net income over the five-year period ending December 31, 2019.

Net Income (Loss)

The net income exhibits a significant turnaround from negative to positive values. In 2015, the company experienced a substantial net loss of approximately $4.52 billion, which improved markedly in 2016 with a reduced loss of about $1.10 billion. From 2017 onward, the net income turned positive, reaching approximately $2.58 billion in 2017. This upward trend continued into 2018 with net income increasing to roughly $3.42 billion, followed by a decrease in 2019 to about $2.73 billion. Overall, after a sharp initial loss, net income showed recovery and profitability but with some variability in the latter years.

Adjusted Net Income (Loss)

The adjusted net income data mirrors the overall trend seen in net income but reflects larger magnitudes of loss and gain. Starting with a very large adjusted net loss of roughly $7.02 billion in 2015, the figure improved in 2016 to a smaller loss of approximately $1.60 billion. In 2017, the company reported a positive adjusted net income of about $595 million, which grew significantly in 2018 to approximately $4.48 billion, marking the highest adjusted profitability in the series. In 2019, adjusted net income declined slightly to around $3.60 billion, though it remained substantially positive. This suggests that the adjustments made to net income exclude significant one-time or non-recurring items, providing a smoother view of underlying profitability.

In summary, the company demonstrated a clear recovery trajectory from heavy losses in 2015 and 2016 towards consistent profitability in subsequent years. Both net income and adjusted net income reveal this improving profitability trend, although both metrics show a slight decline in the latest year, 2019, compared to 2018. The adjusted net income indicates larger swings in financial performance, which may be attributable to the exclusion of extraordinary items, highlighting a stronger operating performance in recent years.