21companies in Energy
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Compare companies, side by side

The same facts from the filings for each company in a group, where each stands among the others, and what each wrote about a topic in its latest 10-K.

Group median · 21 companies
Sales growth
-0.3%
Gross margin
34%
Operating margin
26%
Net margin
13%
Where each stands

The 3 largest, ranked among the group

Each corner is the share of Energy companies the company is above on that ratio. The dashed line is the middle of the group. A rank, not a score.

XOM ExxonMobil
Revenue $334.2B, last twelve months
Year by year
Revenue growth: -5.0%, above 20% of 20 peers (their median 1.8%) REVENUE GROWTH -5.0% · above 20% Net margin: 7.6%, above 5% of 20 peers (their median 14.8%) NET MARGIN 7.6% · above 5% FCF margin: 5.6%, above 15% of 13 peers (their median 12.4%) FCF MARGIN 5.6% · above 15%
Sales growth
-5.0%
Operating margin
-
FCF margin
5.6%

41 paragraphs of its Risk Factors mention Regulation, against 42 the year before.

CVX Chevron Corporation
Revenue $233.3B, last twelve months
Year by year
Revenue growth: -6.8%, above 10% of 20 peers (their median 1.8%) REVENUE GROWTH -6.8% · above 10% Gross margin: 42.4%, above 71% of 7 peers (their median 25.2%) GROSS MARGIN 42.4% · above 71% Net margin: 11.6%, above 45% of 20 peers (their median 14.8%) NET MARGIN 11.6% · above 45% FCF margin: 14.6%, above 62% of 13 peers (their median 11.9%) FCF MARGIN 14.6% · above 62%
Sales growth
-6.8%
Operating margin
-
FCF margin
15%

64 paragraphs of its Risk Factors mention Regulation, against 69 the year before.

MPC Marathon Petroleum
Revenue $174.8B, last twelve months
Year by year
Revenue growth: -4.4%, above 30% of 20 peers (their median 1.8%) REVENUE GROWTH -4.4% · above 30% Gross margin: 15.9%, above 29% of 7 peers (their median 41.8%) GROSS MARGIN 15.9% · above 29% Operating margin: 12.5%, above 8% of 12 peers (their median 27.3%) OPERATING MARGIN 12.5% · above 8% Net margin: 8.4%, above 10% of 20 peers (their median 14.8%) NET MARGIN 8.4% · above 10% FCF margin: 11.9%, above 46% of 13 peers (their median 12.4%) FCF MARGIN 11.9% · above 46% Return on capital: 12.4%, above 83% of 12 peers (their median 8.4%) RETURN ON CAPITAL 12.4% · above 83%
Sales growth
-4.4%
Operating margin
13%
FCF margin
12%

98 paragraphs of its Risk Factors mention Regulation, against 96 the year before.

From the filings

Energy: the same facts for each company

Showing 12 of 21, largest revenue first
Company Revenue, 12 months Sales growth Gross / operating margin Net margin Debt / equity Accounting items Insider buys Investors Open
XOM ExxonMobil
$334.2B
-5.0%
GM -OM -
7.6% 0.19 0 of 5to read 0 0 10-K
CVX Chevron Corporation
$233.3B
-6.8%
GM 42%OM -
12% 0.17 2 of 6to read 0 0 10-K
MPC Marathon Petroleum
$174.8B
-4.4%
GM 16%OM 13%
8.4% 1.42 2 of 6to read 0 0 10-K
PSX Phillips 66
$168.2B
-7.5%
GM 15%OM -
7.5% 0.54 2 of 6to read 0 0 10-K
VLO Valero Energy
$153.3B
-5.5%
GM 12%OM 11%
8.4% 0.39 1 of 6to read 0 0 10-K
COP ConocoPhillips
$67.7B
+7.7%
GM 51%OM -
17% 0.35 0 of 6to read 0 0 10-K
OKE Oneok
$43.2B
+55%
GM 25%OM 14%
9.4% 1.22 1 of 6to read 0 0 10-K
SLB Schlumberger
$36.9B
-1.6%
GM -OM -
8.4% 0.43 2 of 6to read 0 0 10-K
EOG EOG Resources
$29.7B
-4.5%
GM -OM 36%
28% 0.24 1 of 6to read 0 0 10-K
BKR Baker Hughes
$28.7B
-0.3%
GM -OM -
10% 0.91 0 of 6to read 1 0 10-K
OXY Occidental Petroleum
$25.0B
-1.9%
GM -OM -
30% 0.25 0 of 6to read 0 0 10-K
HAL Halliburton
$22.5B
-3.3%
GM -OM 13%
8.9% 0.64 1 of 6to read 0 0 10-K
Sales growth is the last fiscal year against the one before; margins are over the last twelve months. Where each comes from

How to read this page

  • A radar shows where a company ranks among its group on six ratios. A corner at the edge means it is above every other company on that ratio.
  • A table row lists the facts as the filings give them: revenue, growth, margins, debt to equity, the accounting checks, insider buying and followed investors holding.
  • A bubble to the right grew faster, and one higher up kept more of its sales as free cash flow.
  • A bar is paragraphs that mention the topic this year, and the mark on it is last year.

Risk Factors and XBRL figures from each company's latest 10-K, read nightly from SEC EDGAR. Nothing here is a rating.

By topic · 10-K Item 1A

Regulation: paragraphs that mention it

WMB 176 vs 183 EQT 168 vs 162 KMI 109 vs 119 TRGP 105 vs 103 FANG 101 vs 103 MPC 98 vs 96 OKE 87 vs 84 PSX 85 vs 94 EXE 79 vs 70 OXY 77 vs 96 EOG 75 vs 74 COP 72 vs 71 VLO 67 vs 75 APA 65 vs 57 CVX 64 vs 69
All 26 companies
BKR 63 vs 52 HAL 50 vs 30 DVN 48 vs 49 XOM 41 vs 42 TPL 27 vs 26 SLB 26 vs 31 AM 0 vs 0 AR 0 vs 0 ARLP 0 vs 0 AROC 0 vs 0 BSM 0 vs 0

Risk Factors paragraphs in each company's latest 10-K, most mentions first. The bar is this year and the mark is last year. 32 companies have no 10-K downloaded yet.

In their words

What the companies wrote

The paragraphs as filed, each linked to its filing on sec.gov

WMB WILLIAMS COMPANIES, INC.

176 paragraphs

Public and regulatory scrutiny of the energy industry has resulted in the proposal and/or implementation of increased regulations. In addition to regulation by other federal, state, and local regulatory authorities, interstate pipeline transportation and storage services and related assets are subject to regulation by the FERC. Federal regulation extends to such matters as:

Item 1A, Risk Factors, 10-K Feb 24, 2026

… Management’s expected recovery of deferred costs and return of deferred credits generally results from specific decisions by regulators granting such ratemaking treatment. Certain incurred costs and obligations are recorded as regulatory assets or liabilities if, based on regulatory orders …

Item 7, MD&A, 10-K Feb 24, 2026

EQT EQT Corp

168 paragraphs

Our and the MVP Joint Venture's natural gas gathering, transmission and storage services, as applicable, are subject to extensive regulation by federal, state and local regulatory authorities. Changes in or additional regulatory measures adopted by such authorities, and related litigation, could have a material adverse effect on our business, financial condition, results of operations, and cash flows.

Item 1A, Risk Factors, 10-K Feb 18, 2026

It is not possible at this time to predict how legislation or regulations that may be adopted to reduce or restrict methane and other GHG emissions would impact our business. However, any legislation or regulatory programs at the international, federal …

Item 1A, Risk Factors, 10-K Feb 18, 2026

KMI KINDER MORGAN, INC.

109 paragraphs

(a) Includes amounts deferred as either accumulated other comprehensive income (loss) or as a regulatory asset or liability for certain of our regulated operations.

Item 7, MD&A, 10-K Feb 13, 2026

If we fail to comply with any applicable laws or regulations, and orders of such regulatory authorities, we could be subject to substantial penalties and fines and potential loss of government contracts. New or amended laws or regulations, or different …

Item 1A, Risk Factors, 10-K Feb 13, 2026

TRGP Targa Resources Corp.

105 paragraphs

Other FERC regulations may indirectly impact our businesses and the markets for products derived from these businesses. FERC’s policies and practices across the range of its natural gas and liquids regulatory activities, including, for example, its policies on open …

Item 1A, Risk Factors, 10-K Feb 19, 2026

Various states and groups of states have also adopted or are considering adopting legislation, regulations or other regulatory initiatives that are focused on areas of coverage similar to what the federal government has or may consider, including GHG cap and trade programs, carbon taxes, reporting and tracking programs, and restriction of emissions.

Item 1A, Risk Factors, 10-K Feb 19, 2026

FANG Diamondback Energy, Inc.

101 paragraphs

Even if federal regulatory burdens temporarily ease, the historic trend of more expansive and stricter environmental legislation and regulations may continue in the long-term, and at the state and local levels. See Items 1 and 2. Business and Properties - Regulation of this report for a detailed description of certain laws and regulations that affect us.

Item 1A, Risk Factors, 10-K Feb 25, 2026

… Significant expenditures may be required to comply with governmental laws and regulations applicable to us. In addition, federal and state legislation and regulatory initiatives relating to hydraulic fracturing could result in increased costs and additional operating restrictions or delays.

Item 1A, Risk Factors, 10-K Feb 25, 2026

MPC Marathon Petroleum Corp

98 paragraphs

For more information on environmental regulations that impact us, or could impact us, see Item 1. Business - Regulatory Matters and Item 1A. Risk Factors.

Item 7, MD&A, 10-K Feb 26, 2026

Climate change and GHG emission regulation could affect our operations, energy consumption patterns and regulatory obligations, any of which could adversely impact our business, results of operations and financial condition.

Item 1A, Risk Factors, 10-K Feb 26, 2026
Show all 26 companies' quotes

OKE ONEOK INC /NEW/

87 paragraphs

The FERC regulates the rates we can charge and the terms and conditions we can offer for interstate transportation service on our pipelines. State regulatory authorities regulate the rates we can charge and the terms and conditions we can offer for intrastate movements on our pipelines. The determination of the interstate or intrastate character of shipments on our pipelines may change over time, which may change the regulatory framework and the rates we are allowed to charge for transportation

Item 1A, Risk Factors, 10-K Feb 24, 2026

… significant internal and external resources, and any potential future statutes, regulations or orders could lead to further increased regulatory compliance costs, insurance coverage costs or capital expenditures. We cannot predict the potential impact to our business resulting from additional regulations.

Item 1A, Risk Factors, 10-K Feb 24, 2026

PSX Phillips 66

85 paragraphs

The regulatory framework regarding renewable feedstocks and fuels is constantly evolving. Changes to laws, regulations, policies or standards regarding renewable fuels or the feedstocks used to produce our renewable fuels, elimination or

Item 1A, Risk Factors, 10-K Feb 20, 2026

Increasing regulatory focus on privacy and cybersecurity issues and expanding laws and regulations could expose us to increased liability, subject us to lawsuits, investigations and other liabilities and restrictions on our operations that could significantly and adversely affect our business.

Item 1A, Risk Factors, 10-K Feb 20, 2026

EXE EXPAND ENERGY Corp

79 paragraphs

… or amended regulatory requirements or changes to the interpretation of existing regulatory requirements. One or more of these matters could have a material adverse effect on our business, financial condition and results of operations. Applicable environmental laws and regulations may:

Item 1A, Risk Factors, 10-K Feb 18, 2026

Hydraulic Fracturing. Hydraulic fracturing typically is regulated by state oil and natural gas commissions or similar agencies, but EPA has asserted federal regulatory authority pursuant to the Safe Drinking Water Act over certain hydraulic fracturing activities involving the use of diesel fuel in fracturing fluids and issued permitting guidance that applies to such activities.

Item 1A, Risk Factors, 10-K Feb 18, 2026

OXY OCCIDENTAL PETROLEUM CORP /DE/

77 paragraphs

Moreover, laws and regulations governing cybersecurity and data privacy and the unauthorized disclosure of confidential, regulated or protected information pose increasingly complex compliance challenges and potential costs, and any failure to comply with these requirements or other applicable laws and regulations in this area could result in significant regulatory penalties or other legal liabilities.

Item 1A, Risk Factors, 10-K Feb 18, 2026

The Company’s aspirations, goals, initiatives and investments related to carbon management, DAC and sustainability, and the execution of its broader business strategies, expose it to significant financial, operational, regulatory, technological, legal, market, reputational and other risks. The Company’s …

Item 1A, Risk Factors, 10-K Feb 18, 2026

EOG EOG RESOURCES INC

75 paragraphs

For related discussion, see the below risk factors regarding legislative and regulatory matters impacting the oil and gas exploration and production industry and the discussion in ITEM 1, Business - Regulation.

Item 1A, Risk Factors, 10-K Feb 24, 2026

Our crude oil, NGLs and natural gas operations and supporting activities are regulated extensively by federal, state, tribal and local governments and regulatory agencies, both domestically and in the foreign countries in which we do business, and are subject to …

Item 1A, Risk Factors, 10-K Feb 24, 2026

COP CONOCOPHILLIPS

72 paragraphs

• The White House Council on Environmental Quality (CEQ) issued final National Environmental Policy Act implementation regulations (NEPA Phase 2) in 2024. Since then, the DC Circuit Court has suggested that CEQ lacks authority to adopt any binding regulations, introducing potential uncertainty into the regulatory process.

Item 7, MD&A, 10-K Feb 17, 2026

• Significant operational or investment changes imposed by legislative and regulatory initiatives and international agreements addressing environmental concerns, including initiatives addressing the impact of global climate change, such as limiting or reducing GHG emissions; regulations concerning hydraulic fracturing, methane emissions, flaring or water disposal; and prohibitions on commodity exports.

Item 7, MD&A, 10-K Feb 17, 2026

VLO VALERO ENERGY CORP/TX

67 paragraphs

• legislative or regulatory action, including the introduction or enactment of legislation or rulemakings by government authorities, environmental regulations, changes to income tax rates, profits, procedures, windfall, margin, or other taxes or penalties, tax changes or restrictions impacting the foreign repatriation …

Item 7, MD&A, 10-K Feb 25, 2026

… regulations are continuously being enacted or proposed, and are being interpreted and applied in evolving ways, the level of costs required for such matters has increased and may continue to increase. Additionally, many U.S. state and local regulatory agencies …

Item 1A, Risk Factors, 10-K Feb 25, 2026

APA APA Corp

65 paragraphs

… when the regulatory landscape at the federal level was more focused on these issues, regarding changes in legislation or heightened regulation of GHGs, including to monitor and limit existing emissions of GHGs, to restrict or eliminate future emissions, or to …

Item 1A, Risk Factors, 10-K Feb 26, 2026

… lead to increased regulatory review, which may, in turn, lead to new state and federal safety and environmental laws, regulations, guidelines, and enforcement interpretations. These actions may cause operational delays or restrictions, increased operating costs, additional regulatory burdens, increased risk …

Item 1A, Risk Factors, 10-K Feb 26, 2026

CVX CHEVRON CORP

64 paragraphs

… impacts of international and domestic legislation, regulation, or other government actions relating to GHG emissions (e.g., carbon dioxide and methane) and climate change. International agreements and national, regional, and state legislation and regulatory measures that aim to directly or …

Item 1A, Risk Factors, 10-K Feb 24, 2026

… restrictive environmental and other regulation that could materially impact the company’s results of operations or financial condition. Refer to Business Environment and Outlook on pages 35 through 37 for a discussion of legislative and regulatory efforts to address climate …

Item 7, MD&A, 10-K Feb 24, 2026

BKR Baker Hughes Co

63 paragraphs

… may be possible at the federal level in the short-term, with changing administrations and increased regulation by certain states, including California and New York, long-term regulatory trends suggest that regulation of GHG emissions in the United States is …

Item 1A, Risk Factors, 10-K Feb 5, 2026

… the use of AI for certain activities or use cases), this may expose us to regulatory action or litigation. It is possible that emerging regulations or changes to intellectual property laws may limit or block the use of AI in …

Item 1A, Risk Factors, 10-K Feb 5, 2026

DVN DEVON ENERGY CORP/DE

48 paragraphs

Environmental Laws Generally - In addition to regulatory efforts focused on hydraulic fracturing, we are subject to various other federal, state, tribal and local laws and regulations relating to discharge of materials into, and protection of, the environment. These laws and …

Item 1A, Risk Factors, 10-K Feb 18, 2026

Hydraulic Fracturing - Various federal agencies have asserted regulatory authority over certain aspects of the hydraulic fracturing process. For example, the EPA has issued regulations under the federal Clean Air Act establishing performance standards for oil and gas activities, including standards …

Item 1A, Risk Factors, 10-K Feb 18, 2026

XOM EXXON MOBIL CORP

41 paragraphs

… international treaties and accords or changes by local jurisdictions encroaching on national regulatory frameworks or global issues or changes resulting from imposition of extraterritorial laws and regulations, and changes in government policy or priorities that could adversely affect our results …

Item 1A, Risk Factors, 10-K Feb 18, 2026

ExxonMobil’s results can be adversely affected by political or regulatory developments affecting our businesses or operations.

Item 1A, Risk Factors, 10-K Feb 18, 2026

SLB SLB LIMITED/NV

26 paragraphs

Our operations are subject to anti-corruption and anti-bribery laws and regulations, such as the Foreign Corrupt Practices Act, the UK Bribery Act, and other similar laws. We are also subject to trade control regulations and trade sanctions laws …

Item 1A, Risk Factors, 10-K Jan 23, 2026

• unexpected changes in legal and regulatory requirements, including changes in interpretation or enforcement of existing laws;

Item 1A, Risk Factors, 10-K Jan 23, 2026

AM Antero Midstream Corp

0 paragraphs

Not mentioned in the latest 10-K.

AR ANTERO RESOURCES Corp

0 paragraphs

Not mentioned in the latest 10-K.

ARLP ALLIANCE RESOURCE PARTNERS LP

0 paragraphs

Not mentioned in the latest 10-K.

AROC Archrock, Inc.

0 paragraphs

Not mentioned in the latest 10-K.

BSM Black Stone Minerals, L.P.

0 paragraphs

Not mentioned in the latest 10-K.