MURMURPHY OIL CORP

Crude Petroleum & Natural Gas

Revenue: $2.7B; 11% YoY
Operating margin: 11.2%; 44% YoY
EBITDA: $1.3B; 13% YoY
Market cap: $6.3B
Employees: 813; $3M revenue each
Net debt / EBITDA: 0.8×; $1.1B net debt
AI in 10-K: 1.8; mentions per 10K words

Takeover score 0 of 13

Fixable underperformance 0 of 7

TSR below peersNo
—
3+ of last 5 years
High CEO pay despite TSRNo
—
Median CEO pay ≥ $15M while TSR trails
Earnings not backed by cashNo
12× net income
Cash flow under 80% of net income
Dilutive SBCNo
2% of revenue
Over 10% of revenue
Payouts exceed cash flowNo
23% of cash flow
Buybacks + dividends over cash flow
Goodwill-heavyNo
0% of assets
Over 40% of assets
Shareholder dissentNo
—
Any vote under 80% support

Buyer economics 0 of 4

Low revenue per employeeNo
$3M · 61st pct
Bottom quartile of its SIC industry
Quiet on AINo
1.8 per 10K words · 51st pct
Bottom quartile of AI mentions in 10-Ks
Net cashNo
0.8× EBITDA net debt
More cash than debt, positive EBITDA
Buyout-sizedNo
$6.3B market cap
Market cap $500M–$5B

Catalysts 0 of 2

Active 13DNo
0 filings
Active-intent 13D in 18 months
Net insider sellingNo
−$2M net
Net sales over $10M in 12 months

Financials

Metric	FY2021	FY2022	FY2023	FY2024	FY2025	YoY	Trend
Revenue	$2.8B	$4.2B	$3.4B	$3.0B	$2.7B	11%
Operating income	$281M	$1.6B	$1.0B	$603M	$301M	50%
Net income	−$74M	$965M	$662M	$407M	$104M	74%
Operating cash flow	$1.4B	$2.2B	$1.7B	$1.7B	$1.2B	28%
Stock-based comp	$44M	$75M	$59M	$41M	$50M	23%
Buybacks	$0	$0	$150M	$301M	$103M	66%
Dividends	$77M	$128M	$171M	$180M	$186M	3.5%

Deal filings

None.

13D filers

None on file.

Insider trading

Open-market buys, 12 mo: $0 · 0
Open-market sells, 12 mo: $2M · 2
Net: −$2M

Pay vs performance

No pay-versus-performance disclosure yet.