NYSE · Energy

Coterra Energy Inc.

CTRA · Oil & Gas E&P

$35.79

▲ 0.41 (1.16%)

Data cached · refreshes every 10 min

Mr. Market is currently offering Coterra Energy Inc. at $35.79.

The business passes only 3 of 7 of Graham's defensive criteria — well below his required standard.

Overall Grade

Defensive

Enterprising

Profitability A

Gross Profit Margin 41.5%

Operating Margin 32.0%

Net Income Margin 22.5%

Fin. Health C

Years to Pay Off Debt 2.3 yrs

Working Capital vs Long-Term Debt -$3.3B

Working Capital $292M

Valuation F

Margin of Safety 0.0%

Price-to-Book 1.83x

Cash Flow C

Free Cash Flow $1.6B

CapEx % of Net Income 139.0%

Owner Earnings $6.5B

3/7

Graham Score

Speculative

Defensive — Graham's strict criteria (P/B, P/E, dividends, stability) · Enterprising — Profitability & cash flow focused, accepts higher valuations for quality

Market Data

Market Cap $27.2B

Enterprise Value $30.8B

P/E (TTM) 15.98

Dividend Yield 2.49%

Exchange NYSE

Key Margins

Gross Profit 41.5%

Operating Margin 32.0%

Net Margin 22.5%

Company Info

Sector Energy

Industry Oil & Gas E&P

Employees 1075

Country United States

Visit website

📖

Full Graham Analysis

Mr. Market is currently offering Coterra Energy Inc. at $35.79.

The business passes only 3 of 7 of Graham's defensive criteria — well below his required standard.

At $35.79, the stock trades at a 14% premium to its Graham Number of $31.45. Graham would consider this price speculative.

There is no margin of safety at the current price. Graham would advise patience and waiting for a better entry point.

Negative NCAV — liabilities exceed current assets. Common in capital-return businesses (buybacks, debt-funded dividends) and capital-intensive industries. Not automatically a warning sign..

Conclusion: By Graham's standards, this stock is speculative at its current price. The intelligent investor would look elsewhere or wait.

About Coterra Energy Inc.

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.

Showing Key Metrics

Income Highlights

Metric	2025	2024	2023	2022	2021
Gross Profit %	41.5% ▲	36.6%	46.3%	66.3%	N/A
Operating Margin %	32.0% ▲	25.4%	36.2%	57.6%	N/A
Net Income %	22.5% ▲	20.5%	27.5%	44.9%	N/A
Diluted EPS	2.25 ▲	1.51	2.14	5.09	N/A

Balance Sheet Highlights

Metric	2025	2024	2023	2022	2021
Total Assets	$24.2B	$21.6B	$20.4B	$20.2B	N/A
Total Debt	$4.0B ↑	$3.8B	$2.5B	$2.6B	N/A
Working Capital	$292M ▼	$2.2B	$355M	$1.0B	N/A
Years to Pay Debt	2.34	3.39	1.55	0.64	N/A

Cash Flow Highlights

Metric	2025	2024	2023	2022	2021
Free Cash Flow	$1.6B ▲	$1.0B	$1.6B	$3.7B	N/A
Owner Earnings	$6.5B	$4.7B	$5.4B	$7.4B	N/A
CapEx % of Net Income	139.0%	158.0%	129.2%	42.1%	N/A

Income Statement

	2025	2024	2023	2022	2021
Tax Effect Of Unusual Items	1,207	500	2,837	5,764
Tax Rate For Calcs	0	0	0	0
Normalized EBITDA	4,848,000	3,305,000	3,830,000	6,857,000
Total Unusual Items	5,000	3,000	12,000	27,000
Total Unusual Items Excluding Goodwill	5,000	3,000	12,000	27,000
Net Income From Continuing Operation Net Minority Interest	1,717,000	1,121,000	1,625,000	4,065,000
Reconciled Depreciation	2,370,000	1,845,000	1,641,000	1,635,000
Reconciled Cost Of Revenue	4,469,000	3,463,000	3,178,000	3,050,000
EBITDA	4,853,000	3,308,000	3,842,000	6,884,000
EBIT	2,483,000	1,463,000	2,201,000	5,249,000
Net Interest Income	-191,000	-44,000	-26,000	-70,000
Interest Expense	220,000	118,000	73,000	80,000
Interest Income	35,000	83,000	47,000	10,000
Normalized Income	1,713,207	1,118,500	1,615,837	4,043,764
Net Income From Continuing And Discontinued Operation	1,717,000	1,121,000	1,625,000	4,065,000
Total Expenses	5,198,000	4,072,000	3,772,000	3,841,000
Total Operating Income As Reported	2,452,000	1,389,000	2,154,000	5,209,000
Diluted Average Shares	761,000	742,000	756,000	796,000
Basic Average Shares	761,000	742,000	756,000	796,000
Diluted EPS	0	0	0	0
Basic EPS	0	0	0	0
Diluted NI Availto Com Stockholders	1,716,000	1,120,000	1,620,000	4,057,000
Net Income Common Stockholders	1,716,000	1,120,000	1,620,000	4,057,000
Otherunder Preferred Stock Dividend	1,000	1,000	5,000	7,000
Preferred Stock Dividends				1,000	1,000
Net Income	1,717,000	1,121,000	1,625,000	4,065,000
Net Income Including Noncontrolling Interests	1,717,000	1,121,000	1,625,000	4,065,000
Net Income Continuous Operations	1,717,000	1,121,000	1,625,000	4,065,000
Tax Provision	546,000	224,000	503,000	1,104,000
Pretax Income	2,263,000	1,345,000	2,128,000	5,169,000
Other Income Expense	7,000	3,000	12,000	29,000
Other Non Operating Income Expenses	2,000			2,000
Special Income Charges	5,000	3,000	12,000	27,000
Gain On Sale Of Ppe	5,000	3,000	12,000	-1,000
Other Special Charges				-28,000
Restructuring And Mergern Acquisition		0	12,000	69,000	106,000
Net Non Operating Interest Income Expense	-191,000	-44,000	-26,000	-70,000
Total Other Finance Cost	6,000	9,000	3,000	4,000
Interest Expense Non Operating	220,000	118,000	73,000	80,000
Interest Income Non Operating	35,000	83,000	47,000	10,000
Operating Income	2,447,000	1,386,000	2,142,000	5,210,000
Operating Expense	729,000	609,000	594,000	791,000
Other Operating Expenses	40,000	36,000	20,000	29,000
Other Taxes	366,000	271,000	283,000	366,000
Depreciation Amortization Depletion Income Statement				1,626,000	687,000
Depletion Income Statement				1,474,000	663,000
Depreciation And Amortization In Income Statement				152,000	24,000
Amortization				61,000	1,000
Amortization Of Intangibles Income Statement				61,000	1,000
Depreciation Income Statement				91,000	23,000
Selling General And Administration	323,000	302,000	291,000	396,000
General And Administrative Expense	323,000	302,000	291,000	396,000
Other Gand A	260,000	240,000	291,000	396,000
Salaries And Wages	63,000	62,000	59,000	86,000
Gross Profit	3,176,000	1,995,000	2,736,000	6,001,000
Cost Of Revenue	4,469,000	3,463,000	3,178,000	3,050,000
Total Revenue	7,645,000	5,458,000	5,914,000	9,051,000
Operating Revenue	7,176,000	5,384,000	5,603,000	9,449,000

Balance Sheet

	2025	2024	2023	2022	2021
Treasury Shares Number					79,082
Ordinary Shares Number	760,000	735,000	751,000	768,245
Share Issued	760,000	735,000	751,000	768,245
Net Debt	3,704,000	1,497,000	1,205,000	1,508,000
Total Debt	4,017,000	3,802,000	2,526,000	2,599,000
Tangible Book Value	14,838,000	13,122,000	13,039,000	12,659,000
Invested Capital	18,656,000	16,657,000	15,200,000	14,840,000
Working Capital	292,000	2,185,000	355,000	1,018,000
Net Tangible Assets	14,838,000	13,122,000	13,039,000	12,659,000
Capital Lease Obligations	199,000	267,000	365,000	418,000
Common Stock Equity	14,838,000	13,122,000	13,039,000	12,659,000
Total Capitalization	18,406,000	16,657,000	14,625,000	14,840,000
Total Equity Gross Minority Interest	14,838,000	13,122,000	13,039,000	12,659,000
Stockholders Equity	14,838,000	13,122,000	13,039,000	12,659,000
Gains Losses Not Affecting Retained Earnings	14,000	12,000	11,000	13,000
Other Equity Adjustments	14,000	12,000	11,000	13,000
Retained Earnings	6,894,000	5,857,000	5,366,000	4,636,000
Additional Paid In Capital	7,854,000	7,179,000	7,587,000	7,933,000
Capital Stock	76,000	74,000	75,000	77,000
Common Stock	76,000	74,000	75,000	77,000
Total Liabilities Net Minority Interest	9,403,000	8,503,000	7,376,000	7,495,000
Total Non Current Liabilities Net Minority Interest	7,846,000	7,367,000	5,716,000	6,302,000
Other Non Current Liabilities	87,000	77,000	136,000	130,000
Preferred Securities Outside Stock Equity	8,000	8,000	8,000	11,000
Derivative Product Liabilities	0	4,000	0
Employee Benefits	10,000	16,000	17,000	17,000
Non Current Pension And Other Postretirement Benefit Plans	10,000	16,000	17,000	17,000
Non Current Deferred Liabilities	3,724,000	3,291,000	3,446,000	3,394,000
Non Current Deferred Taxes Liabilities	3,703,000	3,274,000	3,413,000	3,339,000
Long Term Debt And Capital Lease Obligation	3,688,000	3,680,000	1,829,000	2,479,000
Long Term Capital Lease Obligation	120,000	145,000	243,000	298,000
Long Term Debt	3,568,000	3,535,000	1,586,000	2,181,000
Long Term Provisions	329,000	291,000	280,000	271,000
Current Liabilities	1,557,000	1,136,000	1,660,000	1,193,000
Other Current Liabilities	2,000	17,000			159,000
Current Debt And Capital Lease Obligation	329,000	122,000	697,000	120,000
Current Capital Lease Obligation	79,000	122,000	122,000	120,000
Current Debt	250,000		575,000
Other Current Borrowings	250,000		575,000
Pensionand Other Post Retirement Benefit Plans Current	82,000	76,000	70,000	74,000
Payables And Accrued Expenses	1,144,000	921,000	893,000	999,000
Current Accrued Expenses	448,000	352,000	360,000	358,000
Interest Payable	54,000	27,000	21,000	21,000
Payables	696,000	569,000	533,000	641,000
Other Payable	502,000	427,000	426,000	479,000
Total Tax Payable	104,000	83,000	47,000	135,000
Income Tax Payable				0	29,000
Accounts Payable	90,000	59,000	60,000	27,000
Total Assets	24,241,000	21,625,000	20,415,000	20,154,000
Total Non Current Assets	22,392,000	18,304,000	18,400,000	17,943,000
Other Non Current Assets	120,000	136,000	82,000	36,000
Non Current Deferred Assets	29,000	27,000	41,000	46,000
Financial Assets	3,000	0	7,000	0
Net PPE	22,240,000	18,141,000	18,270,000	17,861,000
Accumulated Depreciation	-11,169,000	-8,839,000	-7,034,000	-5,413,000
Gross PPE	33,409,000	26,980,000	25,304,000	23,274,000
Other Properties	452,000	490,000	578,000	382,000
Current Assets	1,849,000	3,321,000	2,015,000	2,211,000
Other Current Assets	28,000	1,000	1,000	9,000
Hedging Assets Current	235,000	12,000	85,000	146,000
Restricted Cash	5,000	239,000	9,000	10,000
Prepaid Assets	10,000	14,000	11,000
Inventory	48,000	46,000	59,000	63,000
Other Inventories	5,000	13,000	6,000
Finished Goods	43,000	33,000	53,000
Receivables	1,409,000	971,000	894,000	1,310,000
Receivables Adjustments Allowances	-3,000	-2,000	-2,000	-2,000
Other Receivables	29,000		4,000	48,000	34,000
Duefrom Related Parties Current	214,000	133,000	118,000	108,000
Taxes Receivable	201,000	20,000	51,000	89,000
Accounts Receivable	968,000	820,000	723,000	1,067,000
Cash Cash Equivalents And Short Term Investments	114,000	2,038,000	956,000	673,000
Cash And Cash Equivalents	114,000	2,038,000	956,000	673,000

Cash Flow

	2025	2024	2023	2022	2021
Free Cash Flow	1,634,000	1,024,000	1,559,000	3,746,000
Repurchase Of Capital Stock	-141,000	-455,000	-405,000	-1,250,000
Repayment Of Debt	-1,446,000	-575,000	0	-874,000
Issuance Of Debt	1,746,000	1,990,000	0	0
Capital Expenditure	-2,387,000	-1,771,000	-2,099,000	-1,710,000
Interest Paid Supplemental Data	183,000	99,000	84,000	119,000
Income Tax Paid Supplemental Data	293,000	341,000	388,000	983,000
End Cash Position	119,000	2,277,000	965,000	683,000
Beginning Cash Position	2,277,000	965,000	683,000	1,046,000
Changes In Cash	-2,158,000	1,312,000	282,000	-363,000
Financing Cash Flow	-551,000	279,000	-1,317,000	-4,145,000
Cash Flow From Continuing Financing Activities	-551,000	279,000	-1,317,000	-4,145,000
Net Other Financing Charges	-28,000	-56,000	-22,000	-29,000
Proceeds From Stock Option Exercised			2,000	12,000	2,000
Cash Dividends Paid	-682,000	-625,000	-890,000	-1,992,000
Common Stock Dividend Paid	-682,000	-625,000	-890,000	-1,992,000
Net Preferred Stock Issuance			-1,000	-10,000	0
Preferred Stock Payments			-1,000	-10,000	0
Net Common Stock Issuance	-141,000	-455,000	-405,000	-1,250,000
Common Stock Payments	-141,000	-455,000	-405,000	-1,250,000
Net Issuance Payments Of Debt	300,000	1,415,000	0	-874,000
Net Long Term Debt Issuance	300,000	1,415,000	0	-874,000
Long Term Debt Payments	-1,446,000	-575,000	0	-874,000
Long Term Debt Issuance	1,746,000	1,990,000	0	0
Investing Cash Flow	-5,628,000	-1,762,000	-2,059,000	-1,674,000
Cash Flow From Continuing Investing Activities	-5,628,000	-1,762,000	-2,059,000	-1,674,000
Net Other Investing Changes	-3,000	9,000	40,000	36,000
Sale Of Investment	0	250,000	0	0
Purchase Of Investment	0	-250,000	0	0
Net Business Purchase And Sale	-3,238,000	0	0	0
Sale Of Business			0	0	1,033,000
Purchase Of Business	-3,238,000	0	0	0
Capital Expenditure Reported	-2,387,000	-1,771,000	-2,099,000	-1,710,000
Operating Cash Flow	4,021,000	2,795,000	3,658,000	5,456,000
Cash Flow From Continuing Operating Activities	4,021,000	2,795,000	3,658,000	5,456,000
Change In Working Capital	-298,000	-173,000	237,000	-186,000
Change In Other Working Capital	-172,000	-96,000	38,000	-65,000
Change In Other Current Assets	-10,000	-3,000	-3,000	-4,000
Change In Payables And Accrued Expense	-50,000	21,000	-180,000	91,000
Change In Accrued Expense	27,000	6,000	0	-5,000
Change In Interest Payable	27,000	6,000	0	-5,000
Change In Payable	-77,000	15,000	-180,000	96,000
Change In Account Payable	-77,000	15,000	-180,000	96,000
Change In Inventory	1,000	13,000	4,000	-24,000
Change In Receivables	-67,000	-108,000	378,000	-184,000
Changes In Account Receivables	-67,000	-108,000	378,000	-184,000
Other Non Cash Items	91,000	86,000	266,000	-802,000
Stock Based Compensation	62,000	61,000	57,000	73,000
Deferred Tax	435,000	-145,000	74,000	235,000
Deferred Income Tax	435,000	-145,000	74,000	235,000
Depreciation Amortization Depletion	2,370,000	1,845,000	1,641,000	1,635,000
Depletion	0	5,000	0	0
Depreciation And Amortization	2,370,000	1,840,000	1,641,000	1,635,000
Depreciation	2,370,000	1,840,000	1,641,000	1,635,000
Operating Gains Losses	-356,000		-242,000	436,000	223,000
Gain Loss On Investment Securities	-351,000	3,000	-230,000	463,000
Net Income From Continuing Operations	1,717,000	1,121,000	1,625,000	4,065,000

These metrics estimate what Coterra Energy Inc. is worth based on its fundamentals — independent of what the market currently prices it at. Graham's Fair Value and NCAV are conservative floors rooted in 1930s–60s principles. EPV assumes zero growth. None are price targets — they are reference points for judging whether the current price offers a margin of safety.

Graham's Fair Value

$31.45

Margin of Safety

Market Cap ÷ Company Value

1.24

P/B Ratio

1.83

Warren's Owner Earnings

$6.5B

Latest fiscal year

Graham's 7 Criteria

Defensive Investor Checklist

3/7 — Speculative Investor

✅ Adequate Size

$7.6B

vs > $1.5B revenue

❌ Strong Financial Condition

1.19x

vs Current Ratio > 2.0x

✅ Earnings Stability

No loss years (4 yrs data)

vs No negative EPS years

✅ Dividend Record

2.49%

vs Uninterrupted dividends

❌ Earnings Growth

-55.8% EPS growth

vs > 33% EPS growth

❌ Moderate P/E Ratio

16.0x

vs P/E ≤ 15.0x

❌ Moderate Price-to-Book

1.83x P/B (P/E×P/B: 29.3)

vs P/B ≤ 1.5x | P/E × P/B ≤ 22.5

Net Current Asset Value

$-9.95

Negative NCAV — liabilities exceed current assets. Common in capital-return businesses (buybacks, debt-funded dividends) and capital-intensive industries. Not automatically a warning sign.

"Buy at two-thirds of net current assets." — Graham

Earnings Power Value

$35.81

Per share, no-growth floor. Compare to current price.

Cash Flow Analysis

Metric	2025	2024	2023	2022	2021
Capital Expenditure % of Net Income	139.0%	158.0%	129.2%	42.1%	N/A
Repurchase of Capital Stock	-$141M	-$455M	-$405M	-$1.2B	N/A
Free Cash Flow	$1.6B ▲	$1.0B ▼	$1.6B ▼	$3.7B •	N/A •
Warren's Owner Earnings	$6.5B	$4.7B	$5.4B	$7.4B	N/A

Peers & Industry

No auto-detected peers for Oil & Gas E&P. You can manually compare CTRA against any stock using the Compare tool.

"The management of a business is its most important single factor — more important than market position, patents, or financial structure."

— Benjamin Graham

Capital Allocation & Alignment

Insider Ownership

0.93%

Low — management has little skin in the game

Return on Equity (ROE)

11.6%

Adequate — returns are moderate

Return on Assets (ROA)

7.1%

Strong — management uses assets efficiently

Share Buybacks (Latest Year)

$141M

Management is returning capital to shareholders via buybacks

Debt Trend YoY

+5.7% YoY

Debt is roughly stable

Leadership Team

Thomas Jorden

CEO, President & Chairman

Age 68

Pay: $4,241,850

0.247% of net income

Shannon Young III

Executive VP & CFO

Age 53

Pay: $2,121,411

0.124% of net income

Michael Deshazer

Executive Vice President of Operations

Age 39

Pay: $1,618,540

0.094% of net income

Blake Sirgo

Executive Vice President of Business Units

Age 42

Pay: $1,578,147

0.092% of net income

Todd Liebl

Senior Vice President of Land

Age 67

Top Institutional Holders

Institution	% Owned	Shares
Vanguard Group Inc	12.67%	96,202,408
Wellington Management Group, LLP	10.10%	76,696,789
Blackrock Inc.	8.04%	61,064,369
State Street Corporation	5.87%	44,564,720
Davis Selected Advisers	4.28%	32,537,508
Aristotle Capital Management, LLC	3.84%	29,122,162
Charles Schwab Investment Management, Inc.	3.65%	27,716,896
Victory Capital Management Inc.	2.90%	21,986,795

Risk Analysis

Beta (Market Risk)

0.30

Low volatility — more stable than the market

Short Interest

2.8% of float

Low short interest — market is not heavily bearish

Debt-to-Equity

0.27x

Conservative balance sheet — low financial risk

Current Ratio