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Petroleum refining company · DE · FY ends Dec · Revenue $58.19B · 59.80% margin
$118.79
$4.83 (-3.91%)
Price from 50 days ago
Margins and capital returns are both well above average: 60.48% operating margin, ROIC at 34.28%. Consistent with durable pricing power, though that alone doesn't make it a buy.
Revenue grew 7.7%, steady but not accelerating.
Even for strong businesses, today's 20x P/E means the stock needs to keep delivering. There's no margin of safety if growth disappoints.
20.1x earnings. Valuation is in a reasonable range. The main question is whether the business can re-accelerate or if current trajectory is already priced in.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$58.19B
▲ +7.7% YoY
Net Income (TTM)
$7.32B
▼ -13.6% YoY
Op. Margin
59.80%
▼ -0.7pp YoY
ROIC
34.43%
▼ -1.8pp YoY
Cash Flow & Balance Sheet
FCF
N/A
Op. Cash Flow (TTM)
$17.98B
▼ -1.6% YoY
Net Debt
$16.96B
Cash & Equiv.
$6.36B
5Y CAGR: +25.7%
5Y CAGR: +48.8%
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