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Coterra Energy Inc., an independent oil and gas company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. The company's properties include the Permian Basin, which covers approximately 345,000 net acres in the Delaware Basin in west Texas and southeast New Mexico, and an additional approximate of 49,000 net acres in the Delaware Basin in Lea County, New Mexico; Marcellus Shale properties, which covers approximately 186,000 net acres located in Susquehanna County, northeast Pennsylvania; and Anadarko Basin, which covers approximately 208,000 net acres located in the mid-continent region in Oklahoma. It also operates natural gas and saltwater gathering, and disposal systems in Texas. The company sells its natural gas to industrial customers, local distribution companies, oil and gas marketers, energy companies, pipeline companies, and power generation facilities. The company was formerly known as Cabot Oil & Gas Corporation and changed its name to Coterra Energy Inc. in October 2021. Coterra Energy Inc. was incorporated in 1989 and is headquartered in Houston, Texas.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $7.6B | $4.9B | $1.7B | $1.6B | 11.6% | 40.1% | 53.2% |
| 2024 | $5.5B | $3.3B | $1.1B | $1.0B | 8.5% | -7.7% | -31.0% |
| 2023 | $5.9B | $3.8B | $1.6B | $1.6B | 12.5% | -34.7% | -60.0% |
| 2022 | $9.1B | $6.9B | $4.1B | $3.7B | 32.1% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 9,051 | 5,914 | 5,458 | 7,645 |
| Operating Revenue | - | 9,449 | 5,603 | 5,384 | 7,176 |
| Cost Of Revenue | - | 3,050 | 3,178 | 3,463 | 4,469 |
| Gross Profit | - | 6,001 | 2,736 | 1,995 | 3,176 |
| Operating Expense | - | 791 | 594 | 609 | 729 |
| Selling General And Administration | - | 396 | 291 | 302 | 323 |
| Total Expenses | - | 3,841 | 3,772 | 4,072 | 5,198 |
| Operating Income | - | 5,210 | 2,142 | 1,386 | 2,447 |
| Total Operating Income As Reported | - | 5,209 | 2,154 | 1,389 | 2,452 |
| EBITDA | - | 6,884 | 3,842 | 3,308 | 4,853 |
| Normalized EBITDA | - | 6,857 | 3,830 | 3,305 | 4,848 |
| EBIT | - | 5,249 | 2,201 | 1,463 | 2,483 |
| Interest Income | - | 10 | 47 | 83 | 35 |
| Interest Expense | - | 80 | 73 | 118 | 220 |
| Net Interest Income | - | -70 | -26 | -44 | -191 |
| Other Non Operating Income Expenses | - | 2 | - | - | 2 |
| Other Income Expense | - | 29 | 12 | 3 | 7 |
| Interest Income Non Operating | - | 10 | 47 | 83 | 35 |
| Interest Expense Non Operating | - | 80 | 73 | 118 | 220 |
| Net Non Operating Interest Income Expense | - | -70 | -26 | -44 | -191 |
| Pretax Income | - | 5,169 | 2,128 | 1,345 | 2,263 |
| Tax Provision | - | 1,104 | 503 | 224 | 546 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 5.76 | 2.84 | 0.50 | 1.21 |
| Net Income Continuous Operations | - | 4,065 | 1,625 | 1,121 | 1,717 |
| Net Income From Continuing And Discontinued Operation | - | 4,065 | 1,625 | 1,121 | 1,717 |
| Net Income From Continuing Operation Net Minority Interest | - | 4,065 | 1,625 | 1,121 | 1,717 |
| Net Income | - | 4,065 | 1,625 | 1,121 | 1,717 |
| Net Income Common Stockholders | - | 4,057 | 1,620 | 1,120 | 1,716 |
| Net Income Including Noncontrolling Interests | - | 4,065 | 1,625 | 1,121 | 1,717 |
| Normalized Income | - | 4,043.76 | 1,615.84 | 1,118.50 | 1,713.21 |
| Diluted NI Availto Com Stockholders | - | 4,057 | 1,620 | 1,120 | 1,716 |
| Basic Average Shares | - | 796 | 756 | 742 | 761 |
| Diluted Average Shares | - | 796 | 756 | 742 | 761 |
| Reconciled Depreciation | - | 1,635 | 1,641 | 1,845 | 2,370 |
| Reconciled Cost Of Revenue | - | 3,050 | 3,178 | 3,463 | 4,469 |
| Total Unusual Items | - | 27 | 12 | 3 | 5 |
| Total Unusual Items Excluding Goodwill | - | 27 | 12 | 3 | 5 |
| Preferred Stock Dividends | 1 | 1 | - | - | - |
| Special Income Charges | - | 27 | 12 | 3 | 5 |
| Other Special Charges | - | -28 | - | - | - |
| Restructuring And Mergern Acquisition | 106 | 69 | 12 | 0 | - |
| Depreciation Amortization Depletion Income Statement | 687 | 1,626 | - | - | - |
| Depreciation And Amortization In Income Statement | 24 | 152 | - | - | - |
| General And Administrative Expense | - | 396 | 291 | 302 | 323 |
| Other Gand A | - | 396 | 291 | 240 | 260 |
| Salaries And Wages | - | 86 | 59 | 62 | 63 |
| Gain On Sale Of Ppe | - | -1 | 12 | 3 | 5 |
| Total Other Finance Cost | - | 4 | 3 | 9 | 6 |
| Other Operating Expenses | - | 29 | 20 | 36 | 40 |
| Otherunder Preferred Stock Dividend | - | 7 | 5 | 1 | 1 |
| Earnings From Equity Interest | 0 | - | - | - | - |
| Amortization | 1 | 61 | - | - | - |
| Amortization Of Intangibles Income Statement | 1 | 61 | - | - | - |
| Depreciation Income Statement | 23 | 91 | - | - | - |
| Other Taxes | - | 366 | 283 | 271 | 366 |
| Depletion Income Statement | 663 | 1,474 | - | - | - |
Energy sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Coterra Energy Inc.this co. | CTRA | $24.7B | 14.40↓ discount | 1.67 | 11.6% | 5.90 |
| Diamondback Energy, Inc. | FANG | $57.1B | 34.31 | 1.54 | 4.5% | 10.01 |
| ONEOK, Inc. | OKE | $56.0B | 16.52 | 2.49 | 15.1% | 11.40 |
| Devon Energy Corporation | DVN | $53.0B | 20.08 | 3.42 | 17.0% | 7.96 |
| EQT Corporation | EQT | $34.6B | 16.94 |
| - |
| - |
| - |
| - |
| - |
| 1.45 |
| 8.6% |
| 7.03 |
| Halliburton Company | HAL | $34.4B | 26.84 | 3.29 | 12.3% | 12.38 |
| Texas Pacific Land Corporation | TPL | $28.1B | 58.28 | 19.23 | 33.0% | 41.46 |
| Expand Energy Corporation | EXE | $22.3B | 12.28 | 1.20 | 9.8% | 4.87 |
| APA Corporation | APA | $13.5B | 9.42 | 2.22 | 23.5% | 3.27 |
| Peer Median | - | 18.51 | 2.35 | 13.7% | 8.99 | |