회사 개요
Chord Energy Corporation operates as an independent exploration and production company within the United States, focusing on the acquisition, exploration, development, and production of crude oil, natural gas, and natural gas liquids specifically within the Williston Basin. The company functions within the Energy sector and the Oil & Gas E&P industry, which are characterized by significant volatility linked to global commodity price fluctuations and complex operational risks associated with extraction. This entity maintains a substantial scale with a market capitalization of $7.55B, annual revenue of $4.59B, and a workforce comprising 676 employees. These valuation figures and revenue metrics indicate that Chord Energy holds a significant position in the upstream energy landscape, commanding a large market presence that reflects its operational capacity and asset base relative to peers in the sector.
재무 건전성
The company reported a revenue of $4.59B over the trailing twelve months, while generating a net income of $46.20M and an EBITDA of $2.34B. The substantial gap between the $4.59B in revenue and the $46.20M in net income reveals a cost structure where operating expenses, including depletion, depreciation, and amortization, along with interest costs, consume the majority of earnings before arriving at the bottom line. Despite the lower net income, the company generated $622.48M in free cash flow, which provides a critical buffer for financial flexibility, allowing for potential debt servicing, capital expenditures, or share repurchases without relying solely on external financing. Profitability analysis shows a gross margin of 51.0%, an operating margin of 12.9%, and a profit margin of 1.0%, indicating that while the extraction of commodities retains a healthy portion of sales value, the final profit after all costs is quite thin. On the balance sheet, Chord Energy holds $189.53M in cash against $1.51B in debt, resulting in a debt-to-equity ratio of 18.69, which suggests a leveraged capital structure rather than a conservative one. The current ratio stands at 1.06, indicating that the company's current assets barely exceed its current liabilities, pointing to tight short-term liquidity conditions that require careful cash management. Additionally, the return on equity is 0.5% and the return on assets is 4.1%, metrics that reveal limited management effectiveness in generating substantial returns on the capital invested, particularly when viewed against the backdrop of high leverage.
밸류에이션 평가
The stock carries a trailing P/E ratio of 179.43 and a forward P/E of 10.15, a stark disparity that implies the market expects a dramatic turnaround in earnings trajectory to align current prices with future profitability. The price-to-book ratio is 0.93, indicating that the company is trading below its book value, which often signals a lack of market premium over the tangible assets owned by the firm. Alternative valuation metrics such as the price-to-sales ratio of 1.65 and an EV/EBITDA of 3.80 suggest that the market is pricing the stock based on future earnings recovery rather than current income generation. In terms of price action, the 52-week high is $148.42 and the 52-week low is $79.83, meaning the current trading price sits significantly below the recent peak but well above the recent trough. The beta value of 0.53 indicates that the stock price exhibits lower volatility relative to the broader market, moving less aggressively than the S&P 500 during periods of general market fluctuation.
Growth & Income
Revenue growth year-over-year declined by 19.4%, while earnings growth year-over-year contracted by 56.9%, demonstrating that earnings are shrinking at a much faster rate than revenue, which implies severe margin compression or rising cost pressures. The company offers a dividend yield of 3.9% with a payout ratio of 702.7%, a figure that is not sustainable given the low net income and negative earnings growth, as the company is paying out far more in dividends than it earns in profit. This unsustainable payout ratio suggests that the current dividend is being funded by cash flows or reserves rather than organic earnings, posing a risk of future dividend cuts if operational performance does not improve immediately. The overall growth and income profile is currently characterized by significant contraction in profitability, a leveraged balance sheet, and a dividend yield that lacks a sustainable earnings foundation under current operational conditions.