EOG RESOURCES, INC. vs SLB LIMITED/NV, two Oil & Gas stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
What is priced in: SLB at 20.7 times earnings is priced for a drilling-services recovery, EOG at 13 for premium-shale cash return, the service company carrying the more optimistic multiple. EOG earns the better economics, a 37.5% operating margin against SLB's undisplayed services line, a 17.8% return on equity against 12.2%, and yields far more free cash, 15.1% against 6.6%. SLB carries 0.35 turns of debt against EOG's 0.26 and pays a 1.8% dividend against EOG's 3%. The pair prices a premium producer against the premier service firm; EOG owns the low-cost barrels and converts more to cash, SLB sells the drilling technology at a higher multiple, the market pricing SLB's leverage to a services upturn over EOG's steadier production economics.
Comparison updated 2026-07-11.
| Metric | EOG | SLB |
|---|---|---|
| Price | $132.58 | $46.95 |
| Market cap | $70.9B | $71.1B |
| Sector | Oil & Gas | Oil & Gas |
| Stage | Cyclical | Cyclical |
| Implied growth (priced in) | — | +7.3% |
| P/E | 13.0 | 20.7 |
| P/B | 2.29 | 2.60 |
| P/S | 2.97 | 1.98 |
| EV/EBITDA | 6.4 | 29.0 |
| Revenue growth | +3.0% | -0.3% |
| Operating margin | 37.5% | — |
| Net margin | 23.0% | 9.3% |
| Return on equity | 17.8% | 12.2% |
| Return on assets | 10.3% | 6.1% |
| Return on invested capital | 14.2% | — |
| FCF yield | 15.1% | 6.6% |
| Dividend yield | 3.0% | 1.8% |
| Debt / equity | 0.26 | 0.35 |
| Current ratio | 1.72 | 1.34 |
| Altman Z (solvency) | 7.51 | 2.81 |
| 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.