EOG RESOURCES, INC. vs PEMBINA PIPELINE CORPORATION, two Oil & Gas stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Both balance sheets are conservative, EOG at 0.26 turns of debt and Pembina debt-free, which frees the pair to be about model: EOG produces premium shale oil and gas, Pembina tolls it through pipelines. EOG earns the higher return on equity, 17.8% against 10.1%, the producer's economics beating the midstream operator's, though Pembina's contracted cash flows are steadier. EOG nets 23% of revenue to Pembina's 21.8%, near-matched. EOG trades at 13 times earnings against Pembina's 24, and yields far more free cash, 15.1% against 8.85%. The pair prices a premium producer against a pipeline; EOG's barrels earn more and yield more but ride the commodity, Pembina's tolls earn less but arrive contracted, and the market pays a large premium for the stability.
Comparison updated 2026-07-11.
| Metric | EOG | PBA |
|---|---|---|
| Price | $132.58 | $47.20 |
| Market cap | $70.9B | $27.4B |
| Sector | Oil & Gas | Oil & Gas |
| Stage | Cyclical | Cyclical |
| Implied growth (priced in) | — | -2.7% |
| P/E | 13.0 | 24.0 |
| P/B | 2.29 | 2.22 |
| P/S | 2.97 | 4.80 |
| EV/EBITDA | 6.4 | 13.2 |
| Revenue growth | +3.0% | +2.8% |
| Gross margin | — | 41.0% |
| Operating margin | 37.5% | 36.1% |
| Net margin | 23.0% | 21.8% |
| Return on equity | 17.8% | 10.1% |
| Return on assets | 10.3% | 4.8% |
| Return on invested capital | 14.2% | 12.9% |
| FCF yield | 15.1% | 8.8% |
| Dividend yield | 3.0% | — |
| Debt / equity | 0.26 | 0.00 |
| Current ratio | 1.72 | 0.61 |
| Altman Z (solvency) | 7.51 | 1.64 |
| Piotroski F (quality) | 8 / 9 | 5 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.