Stock Analysis on Net
Stock Analysis on Net

EOG Resources Inc. (NYSE:EOG)

This company has been moved to the archive! The financial data has not been updated since February 27, 2020.

DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin 
Quarterly Data

Microsoft Excel

Decomposing ROE involves expressing net income divided by shareholders’ equity as the product of component ratios.

Two-Component Disaggregation of ROE

EOG Resources Inc., decomposition of ROE (quarterly data)

Microsoft Excel
ROE = ROA × Financial Leverage
Dec 31, 2019 12.64% = 7.37% × 1.72
Sep 30, 2019 14.16% = 8.19% × 1.73
Jun 30, 2019 17.29% = 9.98% × 1.73
Mar 31, 2019 17.16% = 9.58% × 1.79
Dec 31, 2018 17.66% = 10.08% × 1.75
Sep 30, 2018 26.74% = 14.74% × 1.81
Jun 30, 2018 22.15% = 12.05% × 1.84
Mar 31, 2018 18.96% = 10.39% × 1.83
Dec 31, 2017 15.86% = 8.66% × 1.83
Sep 30, 2017 0.07% = 0.03% × 2.07
Jun 30, 2017 -2.02% = -0.96% × 2.11
Mar 31, 2017 -4.28% = -2.04% × 2.10
Dec 31, 2016 -7.84% = -3.72% × 2.11
Sep 30, 2016 -10.50% = -4.85% × 2.17
Jun 30, 2016 -42.50% = -19.84% × 2.14
Mar 31, 2016 -38.91% = -18.33% × 2.12
Dec 31, 2015 -34.96% = -16.77% × 2.08
Sep 30, 2015 — = — × 2.05
Jun 30, 2015 — = — × 1.94
Mar 31, 2015 — = — × 1.99

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).

The primary reason for the decrease in return on equity ratio (ROE) over Q4 2019 is the decrease in profitability measured by return on assets ratio (ROA).

Three-Component Disaggregation of ROE

EOG Resources Inc., decomposition of ROE (quarterly data)

Microsoft Excel
ROE = Net Profit Margin × Asset Turnover × Financial Leverage
Dec 31, 2019 12.64% = 15.74% × 0.47 × 1.72
Sep 30, 2019 14.16% = 16.96% × 0.48 × 1.73
Jun 30, 2019 17.29% = 19.69% × 0.51 × 1.73
Mar 31, 2019 17.16% = 19.35% × 0.49 × 1.79
Dec 31, 2018 17.66% = 19.79% × 0.51 × 1.75
Sep 30, 2018 26.74% = 30.90% × 0.48 × 1.81
Jun 30, 2018 22.15% = 27.81% × 0.43 × 1.84
Mar 31, 2018 18.96% = 26.00% × 0.40 × 1.83
Dec 31, 2017 15.86% = 23.04% × 0.38 × 1.83
Sep 30, 2017 0.07% = 0.10% × 0.36 × 2.07
Jun 30, 2017 -2.02% = -2.88% × 0.33 × 2.11
Mar 31, 2017 -4.28% = -6.70% × 0.30 × 2.10
Dec 31, 2016 -7.84% = -14.33% × 0.26 × 2.11
Sep 30, 2016 -10.50% = -17.58% × 0.28 × 2.17
Jun 30, 2016 -42.50% = -72.18% × 0.27 × 2.14
Mar 31, 2016 -38.91% = -61.93% × 0.30 × 2.12
Dec 31, 2015 -34.96% = -51.66% × 0.32 × 2.08
Sep 30, 2015 — = — × — × 2.05
Jun 30, 2015 — = — × — × 1.94
Mar 31, 2015 — = — × — × 1.99

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).

The primary reason for the decrease in return on equity ratio (ROE) over Q4 2019 is the decrease in profitability measured by net profit margin ratio.

Five-Component Disaggregation of ROE

EOG Resources Inc., decomposition of ROE (quarterly data)

Microsoft Excel
ROE = Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Financial Leverage
Dec 31, 2019 12.64% = 0.77 × 0.95 × 21.46% × 0.47 × 1.72
Sep 30, 2019 14.16% = 0.79 × 0.95 × 22.70% × 0.48 × 1.73
Jun 30, 2019 17.29% = 0.80 × 0.95 × 25.82% × 0.51 × 1.73
Mar 31, 2019 17.16% = 0.80 × 0.95 × 25.45% × 0.49 × 1.79
Dec 31, 2018 17.66% = 0.81 × 0.95 × 25.97% × 0.51 × 1.75
Sep 30, 2018 26.74% = 1.39 × 0.93 × 23.80% × 0.48 × 1.81
Jun 30, 2018 22.15% = 1.71 × 0.90 × 18.15% × 0.43 × 1.84
Mar 31, 2018 18.96% = 2.22 × 0.84 × 13.84% × 0.40 × 1.83
Dec 31, 2017 15.86% = 3.91 × 0.71 × 8.35% × 0.38 × 1.83
Sep 30, 2017 0.07% = 0.18 × 0.16 × 3.27% × 0.36 × 2.07
Jun 30, 2017 -2.02% = — × — × -0.82% × 0.33 × 2.11
Mar 31, 2017 -4.28% = — × — × -5.86% × 0.30 × 2.10
Dec 31, 2016 -7.84% = — × — × -16.68% × 0.26 × 2.11
Sep 30, 2016 -10.50% = — × — × -21.13% × 0.28 × 2.17
Jun 30, 2016 -42.50% = — × — × -105.67% × 0.27 × 2.14
Mar 31, 2016 -38.91% = — × — × -91.67% × 0.30 × 2.12
Dec 31, 2015 -34.96% = — × — × -76.33% × 0.32 × 2.08
Sep 30, 2015 — = — × — × — × — × 2.05
Jun 30, 2015 — = — × — × — × — × 1.94
Mar 31, 2015 — = — × — × — × — × 1.99

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).

The primary reason for the decrease in return on equity ratio (ROE) over Q4 2019 is the decrease in operating profitability measured by EBIT margin ratio.

Two-Component Disaggregation of ROA

EOG Resources Inc., decomposition of ROA (quarterly data)

Microsoft Excel
ROA = Net Profit Margin × Asset Turnover
Dec 31, 2019 7.37% = 15.74% × 0.47
Sep 30, 2019 8.19% = 16.96% × 0.48
Jun 30, 2019 9.98% = 19.69% × 0.51
Mar 31, 2019 9.58% = 19.35% × 0.49
Dec 31, 2018 10.08% = 19.79% × 0.51
Sep 30, 2018 14.74% = 30.90% × 0.48
Jun 30, 2018 12.05% = 27.81% × 0.43
Mar 31, 2018 10.39% = 26.00% × 0.40
Dec 31, 2017 8.66% = 23.04% × 0.38
Sep 30, 2017 0.03% = 0.10% × 0.36
Jun 30, 2017 -0.96% = -2.88% × 0.33
Mar 31, 2017 -2.04% = -6.70% × 0.30
Dec 31, 2016 -3.72% = -14.33% × 0.26
Sep 30, 2016 -4.85% = -17.58% × 0.28
Jun 30, 2016 -19.84% = -72.18% × 0.27
Mar 31, 2016 -18.33% = -61.93% × 0.30
Dec 31, 2015 -16.77% = -51.66% × 0.32
Sep 30, 2015 — = — × —
Jun 30, 2015 — = — × —
Mar 31, 2015 — = — × —

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).

The primary reason for the decrease in return on assets ratio (ROA) over Q4 2019 is the decrease in profitability measured by net profit margin ratio.

Four-Component Disaggregation of ROA

EOG Resources Inc., decomposition of ROA (quarterly data)

Microsoft Excel
ROA = Tax Burden × Interest Burden × EBIT Margin × Asset Turnover
Dec 31, 2019 7.37% = 0.77 × 0.95 × 21.46% × 0.47
Sep 30, 2019 8.19% = 0.79 × 0.95 × 22.70% × 0.48
Jun 30, 2019 9.98% = 0.80 × 0.95 × 25.82% × 0.51
Mar 31, 2019 9.58% = 0.80 × 0.95 × 25.45% × 0.49
Dec 31, 2018 10.08% = 0.81 × 0.95 × 25.97% × 0.51
Sep 30, 2018 14.74% = 1.39 × 0.93 × 23.80% × 0.48
Jun 30, 2018 12.05% = 1.71 × 0.90 × 18.15% × 0.43
Mar 31, 2018 10.39% = 2.22 × 0.84 × 13.84% × 0.40
Dec 31, 2017 8.66% = 3.91 × 0.71 × 8.35% × 0.38
Sep 30, 2017 0.03% = 0.18 × 0.16 × 3.27% × 0.36
Jun 30, 2017 -0.96% = — × — × -0.82% × 0.33
Mar 31, 2017 -2.04% = — × — × -5.86% × 0.30
Dec 31, 2016 -3.72% = — × — × -16.68% × 0.26
Sep 30, 2016 -4.85% = — × — × -21.13% × 0.28
Jun 30, 2016 -19.84% = — × — × -105.67% × 0.27
Mar 31, 2016 -18.33% = — × — × -91.67% × 0.30
Dec 31, 2015 -16.77% = — × — × -76.33% × 0.32
Sep 30, 2015 — = — × — × — × —
Jun 30, 2015 — = — × — × — × —
Mar 31, 2015 — = — × — × — × —

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).

The primary reason for the decrease in return on assets ratio (ROA) over Q4 2019 is the decrease in operating profitability measured by EBIT margin ratio.

Disaggregation of Net Profit Margin

EOG Resources Inc., decomposition of net profit margin ratio (quarterly data)

Microsoft Excel
Net Profit Margin = Tax Burden × Interest Burden × EBIT Margin
Dec 31, 2019 15.74% = 0.77 × 0.95 × 21.46%
Sep 30, 2019 16.96% = 0.79 × 0.95 × 22.70%
Jun 30, 2019 19.69% = 0.80 × 0.95 × 25.82%
Mar 31, 2019 19.35% = 0.80 × 0.95 × 25.45%
Dec 31, 2018 19.79% = 0.81 × 0.95 × 25.97%
Sep 30, 2018 30.90% = 1.39 × 0.93 × 23.80%
Jun 30, 2018 27.81% = 1.71 × 0.90 × 18.15%
Mar 31, 2018 26.00% = 2.22 × 0.84 × 13.84%
Dec 31, 2017 23.04% = 3.91 × 0.71 × 8.35%
Sep 30, 2017 0.10% = 0.18 × 0.16 × 3.27%
Jun 30, 2017 -2.88% = — × — × -0.82%
Mar 31, 2017 -6.70% = — × — × -5.86%
Dec 31, 2016 -14.33% = — × — × -16.68%
Sep 30, 2016 -17.58% = — × — × -21.13%
Jun 30, 2016 -72.18% = — × — × -105.67%
Mar 31, 2016 -61.93% = — × — × -91.67%
Dec 31, 2015 -51.66% = — × — × -76.33%
Sep 30, 2015 — = — × — × —
Jun 30, 2015 — = — × — × —
Mar 31, 2015 — = — × — × —

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).

The primary reason for the decrease in net profit margin ratio over Q4 2019 is the decrease in operating profitability measured by EBIT margin ratio.