I'm looking at the Marathon Oil Earnings Deck and they've got a slide (slide 12) that shows that they're #2 in FCF yield in the S&P500 and an EV/EBITDA multiple of 3.2 (which looks to be bottom 5-10 companies in the S&P 500). From what I've seen from others in the space, this trend is not a MRO-specific issue. So my question is, why, in a space that is absolutely printing cash at the moment, is the market valuing Energy companies so poorly?
For reference, MRO's earnings deck can be found in the link below:
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