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Chord Energy Corporation, a Delaware Corporation (together with our consolidated subsidiaries, the Company, Chord, we, us, or our ), is an independent exploration and production ( E&P ) company engaged in the acquisition, exploration, development and production of crude oil, NGL and natural gas primarily in the Williston Basin with limited non-operated interests in the Marcellus Shale. Our miss…
Operating margin is thin at 4.05%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue declined 7.1% YoY. Margins deteriorated 16.9pp alongside, both lines moving the wrong way.
ROIC dropped from 11.07% to 1.63%, capital efficiency is deteriorating. Operating margin contracted 16.9pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
$5.33B
▼ -7.1% YoY
Net Income (TTM)
-$67M
▼ -94.8% YoY
Op. Margin
3.62%
▼ -16.9pp YoY
ROIC
1.61%
▼ -9.4pp YoY
Cash Flow & Balance Sheet
FCF
N/A
Op. Cash Flow (TTM)
$1.89B
▼ -2.7% YoY
Net Debt
$1.28B
Cash & Equiv.
$226M
5Y CAGR: +20.4%
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