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Forensic Analysis · Upstream Exploration & Production · as of Nov 8, 2026

EOG Resources Inc (EOG)

A forensic read on EOG Resources Inc built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

B · Sound & dependable
Forensic grade
Safe
Financial health
4.5
Distress distance
Clean
Earnings quality
2
Forensic signals
16.8%
ROE
-4.5%
Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

EOG Resources Inc earns a B (Sound & dependable) forensic quality grade, and its balance-sheet distress test reads 4.5, placing it in the Safe zone. 2 forensic signals were flagged in its latest SEC filings, led by return on invested capital.

What the filings flag

12.7%
FY2025
Return on invested capital. Return on invested capital is 12.7% in the latest fiscal year and slipping across FY2023–FY2025 from 21.8%. After-tax operating profit was $7.5B in FY2023 and $5.0B in FY2025, with operating income at 39.7% of revenue in FY2023, 34.1% in FY2024 and 28.2% in FY2025. The capital base behind it grew +14% across FY2023–FY2025, from $34.5B to $39.5B, while the return fell 9.1 points, so the dollars added over that window earned less than the 21.8% the older base was already earning.
-37%
FY2023→FY2024
Dividend — cut. The payout was CUT ~37% in FY2024 (from FY2023). It still returns some cash, but it is NOT the dependable, rising dividend an unbroken streak implies.

Key fundamentals

Latest Revenue$22.63B
Revenue Growth YoY-4.5%
Revenue CAGR (2yr)-3.3%
Net Margin22.0%
Free Cash Flow$9.56B
Return on Equity16.8%
Debt / Equity0.27x

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Data from SEC EDGAR public filings · metrics as of Nov 8, 2026. Forensic signals flag probability, not certainty.

See a wrong number? Report an error with the filing it should match.