Financials Pioneer Natural Resources Company

Equities

PXD

US7237871071

Oil & Gas Exploration and Production

Market Closed - Nyse Other stock markets 04:00:01 2024-04-26 pm EDT			5-day change	1st Jan Change
268.9 ^USD	-2.28%		-0.53%	+19.56%

Apr. 26	Earnings for Big Oil backpaddle as natgas prices tumble	RE
Apr. 26	Exxon misses on Q1 profit despite big gains in Guyana	RE

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	25,074	18,724	44,403	54,265	52,467	62,814	-	-
Enterprise Value (EV) ¹	26,545	20,459	47,353	58,137	57,062	65,137	62,031	59,318
P/E ratio	33.6 x	-94.1 x	21.1 x	7.34 x	11.1 x	12.3 x	11.5 x	12.5 x
Yield	0.79%	1.93%	3.76%	11.1%	6.21%	3.12%	2.88%	3.25%
Capitalization / Revenue	2.69 x	2.8 x	3.03 x	2.23 x	2.71 x	2.85 x	2.71 x	2.5 x
EV / Revenue	2.85 x	3.06 x	3.23 x	2.39 x	2.95 x	2.95 x	2.68 x	2.36 x
EV / EBITDA	7 x	8.65 x	7.47 x	4.6 x	5.89 x	6.47 x	5.76 x	5.31 x
EV / FCF	52.6 x	32.9 x	17.4 x	6.94 x	14.7 x	14.5 x	13.3 x	12.9 x
FCF Yield	1.9%	3.04%	5.74%	14.4%	6.78%	6.92%	7.55%	7.74%
Price to Book	2.07 x	1.62 x	1.86 x	2.39 x	2.27 x	2.23 x	1.96 x	1.71 x
Nbr of stocks (in thousands)	165,647	164,407	244,134	237,599	233,309	233,623	-	-
Reference price ²	151.4	113.9	181.9	228.4	224.9	268.9	268.9	268.9
Announcement Date	2/19/20	2/23/21	2/16/22	2/22/23	2/22/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	9,304	6,685	14,643	24,294	19,362	22,054	23,162	25,158
EBITDA ¹	3,791	2,366	6,339	12,652	9,684	10,074	10,774	11,177
EBIT ¹	2,022	680	3,790	10,081	6,742	6,913	7,399	6,961
Operating Margin	21.73%	10.17%	25.88%	41.5%	34.82%	31.34%	31.95%	27.67%
Earnings before Tax (EBT) ¹	987	-261	2,746	9,951	6,247	6,684	7,227	6,975
Net income ¹	756	-200	2,118	7,845	4,894	5,270	5,637	5,241
Net margin	8.13%	-2.99%	14.46%	32.29%	25.28%	23.9%	24.34%	20.83%
EPS ²	4.500	-1.210	8.610	31.13	20.21	21.89	23.44	21.56
Free Cash Flow ¹	505	621	2,716	8,382	3,869	4,507	4,681	4,594
FCF margin	5.43%	9.29%	18.55%	34.5%	19.98%	20.44%	20.21%	18.26%
FCF Conversion (EBITDA)	13.32%	26.25%	42.85%	66.25%	39.95%	44.74%	43.44%	41.1%
FCF Conversion (Net income)	66.8%	-	128.23%	106.85%	79.06%	85.52%	83.04%	87.65%
Dividend per Share ²	1.200	2.200	6.830	25.44	13.96	8.391	7.735	8.729
Announcement Date	2/19/20	2/23/21	2/16/22	2/22/23	2/22/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1
Net sales ¹	4,463	4,317	6,172	6,920	6,093	5,108	4,541	4,599	5,004	5,217	5,057	5,292	5,337	5,400	5,613
EBITDA ¹	2,157	1,789	3,245	3,735	3,087	2,593	2,406	2,196	2,619	2,462	2,399	2,519	2,587	2,649	2,670
EBIT ¹	1,443	1,105	2,590	3,104	2,438	1,929	1,727	1,478	1,873	1,663	1,597	1,725	1,778	1,841	1,846
Operating Margin	32.33%	25.6%	41.96%	44.86%	40.01%	37.76%	38.03%	32.14%	37.43%	31.88%	31.58%	32.6%	33.32%	34.09%	32.89%
Earnings before Tax (EBT) ¹	1,336	991	2,561	3,028	2,494	1,868	1,557	1,407	1,667	1,617	1,533	1,688	1,743	1,771	1,832
Net income ¹	1,045	763	2,009	2,371	1,984	1,481	1,222	1,102	1,301	1,269	1,194	1,294	1,336	1,370	1,394
Net margin	23.41%	17.67%	32.55%	34.26%	32.56%	28.99%	26.91%	23.96%	26%	24.32%	23.62%	24.45%	25.03%	25.38%	24.84%
EPS ²	4.070	2.970	7.850	9.300	7.930	5.980	5.000	4.550	5.410	5.280	4.971	5.424	5.597	5.761	5.853
Dividend per Share ²	2.070	3.640	3.780	7.380	-	5.710	5.580	3.340	-	3.200	3.028	1.933	2.158	2.175	2.652
Announcement Date	11/3/21	2/16/22	5/4/22	8/2/22	10/27/22	2/22/23	4/26/23	8/1/23	11/2/23	2/22/24	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	1,471	1,735	2,950	3,872	4,595	2,323	-	-
Net Cash position ¹	-	-	-	-	-	-	783	3,496
Leverage (Debt/EBITDA)	0.388 x	0.7333 x	0.4654 x	0.306 x	0.4745 x	0.2306 x	-	-
Free Cash Flow ¹	505	621	2,716	8,382	3,869	4,507	4,681	4,594
ROE (net income / shareholders' equity)	11.4%	2.86%	19%	34%	22%	20.2%	19.2%	17.4%
ROA (Net income/ Total Assets)	4.09%	1.77%	11.6%	21.2%	13.9%	12.8%	11.7%	9.79%
Assets ¹	18,485	-11,303	18,188	36,935	35,205	41,145	48,105	53,513
Book Value Per Share ²	73.10	70.30	98.00	95.50	99.20	121.0	137.0	157.0
Cash Flow per Share ²	21.20	13.50	25.00	48.60	35.60	37.50	39.20	39.80
Capex ¹	2,988	1,602	3,427	3,819	4,748	4,473	4,598	4,710
Capex / Sales	32.12%	23.96%	23.4%	15.72%	24.52%	20.28%	19.85%	18.72%
Announcement Date	2/19/20	2/23/21	2/16/22	2/22/23	2/22/24	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Pioneer Natural Resources Company

Trading Rating

Investor Rating

ESG Refinitiv

B-

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

268.9 USD

Average target price

277.4 USD

Spread / Average Target

+3.19%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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