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Held by 820 of 6,047 reporting institutions (98th percentile) — extremely crowded.
Data as of Q2 2026
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Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
No trend data available for this metric.
Ranked against 14 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-06-30.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EOG | $77.7B | 16.3× | 7.6× | 3.4× | -4.5% | — | 22.0% | 16.7% | 13.2% | 0.4× | 1,561 |
| OXY | $60.1B | 37.3× | — | 2.8× | -1.9% | — | 11.0% | 6.6% | 4.2% | — | 1,206 |
| FANG | $53.8B | 33.5× | 10.8× | 3.6× | 35.8% | — | 11.1% | 4.5% | 3.2% | 2.3× | 1,145 |
| DVN | $53.1B | 11.6× | — | 3.1× | 7.8% | — | 15.4% | 17.0% | 11.0% | — | 1,410 |
| EQT | $33.0B | 16.0× | 7.0× | 3.8× | 63.9% | 82.3% | 23.6% | 8.6% | 6.5% | 1.3× | 1,062 |
| EXE | $20.4B | 11.7× | 4.5× | 1.7× | 186% | — | 15.0% | 9.8% | 7.7% | 0.8× | 820 |
| PR | $19.3B | 18.0× | — | 3.8× | 1.3% | — | 18.5% | 9.1% | 6.8% | — | 583 |
| OVV | $17.7B | 13.4× | 6.9× | 2.0× | -2.7% | — | 13.9% | 11.1% | 7.6% | 1.6× | 576 |
| AR | $11.0B | 17.7× | 7.6× | 2.1× | 22.0% | — | 12.8% | 8.9% | 7.5% | 0.9× | 609 |
| RRC | $9.6B | 14.9× | — | 3.1× | 28.9% | 94.0% | 21.1% | 15.2% | 11.9% | — | 525 |
| SM | $8.8B | 6.6× | — | 2.8× | 17.2% | — | 20.5% | 13.5% | 13.5% | — | 481 |
| CHRD | $7.7B | 191.3× | 5.4× | 1.6× | -7.1% | 80.0% | 0.9% | 0.6% | 0.5% | 0.8× | 498 |
| MTDR | $6.7B | 8.9× | 4.2× | 1.8× | 5.5% | 94.4% | 20.5% | 13.4% | 8.4% | 1.4× | 472 |
| MGY | $6.5B | — | 7.5× | 4.9× | -0.3% | — | 24.8% | 16.3% | 13.6% | 0.1× | 394 |
| MUR | $5.5B | 53.7× | 5.0× | 2.0× | -10.2% | 100% | 3.8% | 2.0% | 1.6% | 0.7× | 419 |
Peers = companies sharing EXE's sector (Crude Petroleum & Natural Gas) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
What the company returns to shareholders — and whether it's covered by cash.
The dividend is comfortably covered — only 42% of free cash flow, leaving room to grow it and fund buybacks. Last year: $765.0M dividends + $100.0M buybacks = $865.0M returned on $1.84B FCF.
1 consecutive years of dividend increases · 38%/yr.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A reinvestment story — most cash went back into growth rather than to shareholders.
Reinvestment has been productive — operating income grew well per dollar put in. Current ROIC on all capital: 8%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
Solve the discounted cash flow backwards, then stress-test the assumptions.
Average free cash flow across the last 3 positive fiscal years (FY2023, FY2024, FY2025). Smooths the cycle. Stock compensation is NOT charged — it is added back inside operating cash flow.
To be worth $88.81 today, the market must believe free cash flow compounds 7.4%/yr for a decade (off $799.3M on the 3-yr avg basis).
On the basis ($760.3M) the requirement is 8.0%/yr. Shares issued to employees are added back in operating cash flow, so this basis treats them as free.
The market's 7.4% is more conservative than its 7-yr track record.
Default is 7.3% — this company's computed cost of capital (computed WACC), the same rate the Analysis tab discounts at.
2-stage DCF · 0.23B shares (market data) · net debt $4.39B
mean 4749.5% · volatility σ 8883% · implied rate exceeded in 3/7 yrs
Central path = implied 7.4%/yr growth; shaded band = ±1σ (8883%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $616.0M covers the $0 due within a year 616000000.0× over. Scheduled principal only (excludes interest & revolver draws). As of 2025-12-31 (10-K).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest is easily covered by operating profit. Effective rate ~4.7% on $5.01B of debt.
Cash of $616.0M fully covers short-term debt of $0.
Mostly long-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
EOD close · as of 2026-10-12
How a revenue dollar becomes profit — FY2025
Dividends and buybacks are cash paid out, shown here against the same year's profit for scale — not funded from it.
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $12.12B 100.0% | $4.24B 100.0% | $8.72B 100.0% | $11.74B 100.0% | $5.24B 100.0% | $8.53B 100.0% | $10.03B 100.0% | $10.04B 100.0% | $8.71B 100.0% | $12.76B 100.0% |
| Selling, General & Admin | $181.0M 1.5% | $186.0M 4.4% | $127.0M 1.5% | $142.0M 1.2% | $267.0M 5.1% | $315.0M 3.7% | $335.0M 3.3% | $333.0M 3.3% | $322.0M 3.7% | $235.0M 1.8% |
| Total Operating Expenses | $9.65B 79.6% | $5.04B 119.0% | $5.58B 64.0% | $7.96B 67.8% | $13.94B 266.1% | $8.56B 100.4% | $9.65B 96.2% | $10.18B 101.4% | $11.96B 137.4% | $31.68B 248.2% |
| Operating Income | $2.47B 20.4% | -$803.0M -19.0% | $3.14B 36.0% | $3.78B 32.2% | -$8.70B -166.1% | -$31.0M -0.4% | $382.0M 3.8% | -$138.0M -1.4% | -$3.26B -37.4% | -$18.92B -148.2% |
| Interest Expense | $235.0M 1.9% | $123.0M 2.9% | $104.0M 1.2% | $160.0M 1.4% | $331.0M 6.3% | $651.0M 7.6% | $633.0M 6.3% | $601.0M 6.0% | $528.0M 6.1% | $317.0M 2.5% |
| Other Income (Expense), net | -$189.0M -1.6% | -$38.0M -0.9% | -$25.0M -0.3% | -$129.0M -1.1% | -$1.07B -20.3% | -$608.0M -7.1% | -$164.0M -1.6% | -$362.0M -3.6% | -$424.0M -4.9% | -$179.0M -1.4% |
| Pretax Income | $2.28B 18.8% | -$841.0M -19.9% | $3.12B 35.7% | $3.65B 31.1% | -$9.77B -186.4% | -$639.0M -7.5% | $218.0M 2.2% | -$500.0M -5.0% | -$3.68B -42.3% | -$19.10B -149.6% |
| Income Tax Expense | $463.0M 3.8% | -$127.0M -3.0% | $698.0M 8.0% | -$1.28B -10.9% | -$19.0M -0.4% | -$331.0M -3.9% | -$10.0M -0.1% | $2.0M 0.0% | -$190.0M -2.2% | -$4.46B -35.0% |
| Net Income | $1.82B 15.0% | -$714.0M -16.9% | $2.42B 27.7% | $4.94B 42.0% | -$9.73B -185.8% | -$308.0M -3.6% | $226.0M 2.3% | -$505.0M -5.0% | -$3.49B -40.1% | -$14.57B -114.1% |
| Per Share | ||||||||||
| EPS (Basic) | $7.67 | -$4.55 | $18.21 | $38.71 | -$998.26 | -$49.97 | $29.26 | -$139.32 | -$5.26 | -$22.26 |
| EPS (Diluted) | $7.57 | -$4.55 | $16.92 | $33.36 | -$998.26 | -$49.97 | $29.26 | -$139.32 | -$5.26 | -$22.26 |
| Weighted Avg Shares (Basic) | 237.3M | 157.0M | 132.8M | 125.8M | 9.8M | 8.3M | 4.5M | 4.5M | 764.0M | 662.0M |
| Weighted Avg Shares (Diluted) | 240.4M | 157.0M | 143.0M | 146.0M | 9.8M | 8.3M | 4.5M | 4.5M | 764.0M | 662.0M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
EOD close · as of 2026-10-12
Earns 3.23pts above its cost of capital, but net margin has stepped down from 4203.36% to 1500.33% over 3 years.
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2015 | not reported | -148.2% | -114.1% |
| FY2016 | not reported | -56.0% | -55.8% |
| FY2017 | not reported | -1.4% | -5.0% |
| FY2018 | not reported | 3.8% | 2.3% |
| FY2019 | not reported | -0.4% | -3.6% |
| FY2020 | not reported | -166.1% | -185.8% |
| FY2022 | not reported | 32.2% | 42.0% |
| FY2023 | not reported | 36.0% | 27.7% |
| FY2024 | not reported | -19.0% | -16.9% |
| FY2025 | not reported | 20.4% | 15.0% |
Net margin is 1500.33% against 4203.36% 3 years ago — a step down the business has not recovered, whatever the spread says today.
Where each multiple sits in its own 4-yr range · 54th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 4-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
ROE 10% against ROIC 8% — 2% of the return on equity comes from leverage and buybacks rather than from the operating business.
What the company owes vs. what it holds
This shows debt/cash structure and net leverage. The year-by-year maturity schedule is on the Debt & Leverage tab.
Latest year: profit growth vs revenue growth
Profit and sales moved in opposite directions this year.
Each line as % of revenue — the trend in color
| % of revenue | FY2017 | FY2018 | FY2019 | FY2020 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| SG&A | 3.3 | 3.3 | 3.7 | 5.1 | 1.2 | 1.5 | 4.4 | 1.5 |
| Operating Income | -1.4 | 3.8 | -0.4 | -166.1 | 32.2 | 36.0 | -19.0 | 20.4 |
| Income Tax | 0.0 | -0.1 | -3.9 | -0.4 | -10.9 | 8.0 | -3.0 | 3.8 |
| Net Income | -5.0 | 2.3 | -3.6 | -185.8 | 42.0 | 27.7 | -16.9 | 15.0 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on EXE: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
Leverage and buybacks account for 2 points of the 10% return on equity in FY2025. The business earns 8% on the capital it employs; the rest is balance sheet.
ROE is on average equity; ROIC is NOPAT over average invested capital (debt plus equity less excess cash). The gap is not a single adjustment.
| Period | ROIC | Cost of capital | Spread |
|---|---|---|---|
| FY2018 | 3.8% | 7.3% (today's — no rate published for this year) | -3.5pts |
| FY2019 | -0.2% | 7.3% (today's — no rate published for this year) | -7.6pts |
| FY2022 | 29.9% | 7.4% | 22.5pts |
| FY2023 | 25.6% | 7.5% | 18.1pts |
| FY2024 | -3.4% | 9.8% | -13.2pts |
| FY2025 | 10.3% | 7.2% | 3.2pts |
| Now | 7.7% | 7.3% | 0.4pts |
Converts 2.32x of reported profit into free cash flow over 4 years, with accruals negative.
| Step | Amount | Running total |
|---|---|---|
| Net income | $1.82B | $1.82B |
| Share-based comp | $46M | $1.86B |
| Other non-cash & working capital | $2.71B | $4.58B |
| Operating cash flow | $4.58B | $4.58B |
| Capex | −$2.74B | $1.84B |
| Free cash flow | $1.84B | $1.84B |
| FCF after SBC | $1.79B | $1.79B |
| Fiscal year | Revenue growth | Receivables growth | Gap |
|---|---|---|---|
| FY2019 | -14.9% | -20.6% | -5.7 points |
| FY2020 | -38.6% | -24.6% | 13.9 points |
| FY2022 | 124.1% | 92.8% | -31.3 points |
| FY2023 | -25.7% | -58.8% | -33.0 points |
| FY2024 | -51.4% | 106.8% | 158.2 points |
| FY2025 | 186.3% | 30.4% | -155.9 points |
| Fiscal year | DSO | DIO | DPO | Cash conversion cycle |
|---|---|---|---|---|
| FY2018 | 45.4 days | not reported | not reported | not reported |
| FY2019 | 42.4 days | not reported | not reported | not reported |
| FY2020 | 52 days | not reported | not reported | not reported |
| FY2022 | 44.7 days | not reported | not reported | not reported |
| FY2023 | 24.8 days | not reported | not reported | not reported |
| FY2024 | 105.7 days | not reported | not reported | not reported |
| FY2025 | 48.1 days | not reported | not reported | not reported |
| Fiscal year | Accruals / assets |
|---|---|
| FY2018 | -11.8 percent |
| FY2019 | -11.9 percent |
| FY2020 | -165.5 percent |
| FY2022 | 5.2 percent |
| FY2023 | 0.3 percent |
| FY2024 | -8.2 percent |
| FY2025 | -9.7 percent |
Shares outstanding are up 5120% since FY2018 — per-share cash flow has grown more slowly than the totals above, and the gap is the owners'.
Covers interest 7.4x even after a 30% EBITDA decline.
| EBITDA decline | Interest coverage |
|---|---|
| 0% | 10.51x |
| 5% | 9.99x |
| 10% | 9.46x |
| 15% | 8.94x |
| 20% | 8.41x |
| 25% | 7.89x |
| 30% | 7.36x |
| 35% | 6.83x |
| 40% | 6.31x |
| 45% | 5.78x |
| 50% | 5.26x |
| 55% | 4.73x |
| 60% | 4.21x |
Ladder as of 2025-12-31 (10-K); cash from the 2025-12-31 balance sheet; FCF from FY2025.
Balance sheet at 2025-12-31. Undrawn revolving credit is not shown: the tag is collected but not yet mapped through to the API.
The maturity schedule is not part of this verdict — its filing anchor is often older than the balance sheet it sits beside, so a wall inside 24 months may not be visible here.
At $88.22, free cash flow must compound 7.36%/yr for 10 years. It has done 1.23%/yr over 6 years.
| Fiscal year | FCF growth | Price requires |
|---|---|---|
| FY2019 | −7.8% | 7.4% |
| FY2020 | −98.6% | 7.4% |
| FY2022 | 10363.6% | 7.4% |
| FY2023 | −76.1% | 7.4% |
| FY2024 | −98.5% | 7.4% |
| FY2025 | 22887.5% | 7.4% |
The implied rate has been matched or beaten in 2 of the last 6 years.
SBC is added back inside operating cash flow, so reported free cash flow treats shares issued to employees as free. Percent of revenue says how expensive the payroll is; percent of operating cash flow says how much of the cash exists only because the charge was added back. The buyback offset is buybacks over SBC — below 1.0 the repurchase does not cover the shares issued.
Figures are the latest fiscal year (FY2025) from the company's own filings, not a trailing-twelve-month window — Q2 reads fiscal years throughout so the cash-conversion ratios and these share one basis. A blank is a line the filer did not report; it is never read as zero.