Revenue growth remains inconsistent, with a 37.1% increase in 2026Q1 failing to offset the structural margin compression that saw gross margins decline from 39.1% in 2023Q4 to 22.2% in 2026Q1.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 |
|---|
| Sales/Revenue | 5.33B | 4.88B | 5.25B | 3.9B | 3.65B | 1.58B | 1.08B | 1.93B | 2.32B | 1.25B | 704.66M | 789.74M | 1.39B | 1.14B | 686.67M | 330.42M | 128.93M |
| Revenue Growth % | -0.99% | -7.12% | 34.76% | 6.85% | 130.82% | 45.84% | -43.89% | -16.85% | 85.99% | 77.17% | -10.77% | -43.19% | 21.74% | 66.31% | 107.82% | 156.29% | - |
| Cost of Goods Sold | 4.47B | 4.56B | 3.95B | 2.46B | 1.86B | 909.84M | 843.29M | 1.85B | 1.7B | 54.82M | 26.01M | 74.14M | 284.49M | 31.88M | 15.36M | 3.82M | 11.97M |
| COGS % of Revenue | - | 93.54% | 75.14% | 63.11% | 50.9% | 57.59% | 77.84% | 95.85% | 73.15% | 4.39% | 3.69% | 9.39% | 20.46% | 2.79% | 2.24% | 1.16% | 9.28% |
| Gross Profit | 858.51M | 315.01M | 1.31B | 1.44B | 1.79B | 670.09M | 240.05M | 80.17M | 623.43M | 1.19B | 678.65M | 715.6M | 1.11B | 1.11B | 671.31M | 326.61M | 116.96M |
| Gross Margin % | 16.11% | 6.46% | 24.86% | 36.89% | 49.1% | 42.41% | 22.16% | 4.15% | 26.85% | 95.61% | 96.31% | 90.61% | 79.54% | 97.21% | 97.76% | 98.84% | 90.72% |
| Gross Profit Growth % | - | -75.87% | -9.18% | -19.71% | 167.19% | 179.15% | 199.41% | -87.14% | -47.77% | 75.88% | -5.16% | -35.28% | -0.39% | 65.37% | 105.54% | 179.25% | - |
| Operating Expenses | 668.68M | 116.54M | 205.52M | 164.41M | 206.64M | -139.35M | 5.11B | 170.35M | 148.78M | 147.54M | 133.37M | 124.11M | 169.6M | 101.23M | 66.45M | 30.25M | 19.75M |
| OpEx % of Revenue | - | 2.39% | 3.91% | 4.22% | 5.67% | -8.82% | 471.97% | 8.82% | 6.41% | 11.82% | 18.93% | 15.72% | 12.2% | 8.86% | 9.68% | 9.16% | 15.31% |
| Selling, General & Admin | 125.42M | 126.29M | 205.59M | 126.32M | 209.3M | 80.69M | 159.52M | 128.59M | 121.35M | 147.54M | 133.37M | 124.11M | 121.44M | 101.23M | 66.45M | 29.43M | 19.75M |
| SG&A % of Revenue | - | 2.59% | 3.92% | 3.24% | 5.74% | 5.11% | 14.72% | 6.66% | 5.23% | 11.82% | 18.93% | 15.72% | 8.74% | 8.86% | 9.68% | 8.91% | 15.31% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 1000K | -9.75M | -67K | 38.09M | -2.66M | -220.04M | 4.95B | 41.75M | 121K | 0 | 0 | 0 | 48.16M | 0 | 0 | 820K | 0 |
| Operating Income | 190.18M | 198.46M | 1.1B | 1.27B | 1.58B | 809.44M | -4.87B | -90.17M | 119.01M | 143.97M | -130.83M | -114.16M | 645.65M | 504.4M | 276.99M | 152.57M | 21.99M |
| Operating Margin % | 3.57% | 4.07% | 20.95% | 32.67% | 43.43% | 51.23% | -449.81% | -4.67% | 5.13% | 11.53% | -18.57% | -14.46% | 46.44% | 44.17% | 40.34% | 46.17% | 17.06% |
| Operating Income Growth % | - | -81.96% | -13.6% | -19.61% | 95.66% | 116.61% | -5303.92% | -175.77% | -17.33% | 210.04% | -14.6% | -117.68% | 28% | 82.1% | 81.56% | 593.71% | - |
| EBITDA | 1.69B | 1.67B | 2.21B | 1.87B | 1.95B | 967.75M | -4.57B | 697.02M | 755.31M | 674.77M | 345.5M | 371.16M | 1.06B | 811.45M | 483.73M | 227.55M | 59.83M |
| EBITDA Margin % | 31.81% | 34.21% | 42.05% | 48.03% | 53.57% | 61.25% | -421.46% | 36.1% | 32.53% | 54.05% | 49.03% | 47% | 76.1% | 71.06% | 70.45% | 68.87% | 46.4% |
| EBITDA Growth % | -30.93% | -24.42% | 17.96% | -4.18% | 101.86% | 121.2% | -755.04% | -7.72% | 11.94% | 95.3% | -6.91% | -64.92% | 30.38% | 67.75% | 112.58% | 280.36% | - |
| D&A (Non-Cash Add-back) | 1.5B | 1.47B | 1.11B | 598.56M | 369.66M | 158.3M | 307.21M | 787.19M | 636.3M | 530.8M | 476.33M | 485.32M | 412.33M | 307.06M | 206.73M | 74.98M | 37.83M |
| EBIT | 347.69M | 323.63M | 1.17B | 1.37B | 1.41B | 218.79M | -3.86B | -199.49M | 126.15M | 70.98M | -231.25M | 93.28M | 972.86M | 470.18M | 316.02M | 155.8M | 14.62M |
| Net Interest Income | -90.93M | -80.15M | -56.52M | -28.63M | -29.35M | -30.81M | -143.86M | -176.22M | -159.09M | -146.84M | -140.31M | -149.65M | -158.39M | -107.17M | 70.14M | 0 | 0 |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 70.14M | 0 | 0 |
| Interest Expense | 90.93M | 80.15M | 56.52M | 28.63M | 29.35M | 30.81M | 143.86M | 176.22M | 151.5M | 146.84M | 140.31M | 149.65M | 158.39M | 107.17M | 0 | -29.62M | -1.36M |
| Other Income/Expense | 93.53M | 45.02M | 12.37M | 65.85M | -200.21M | -621.46M | 836M | -260.72M | -144.35M | -219.83M | -240.72M | 57.79M | 168.82M | -141.38M | -31.12M | -26.39M | -8.73M |
| Pretax Income | 44.8M | 243.48M | 1.11B | 1.34B | 1.38B | 187.99M | -4.04B | -350.89M | -25.34M | -75.86M | -371.55M | -56.37M | 814.47M | 363.02M | 245.87M | 126.18M | 13.27M |
| Pretax Margin % | 0.84% | 4.99% | 21.18% | 34.36% | 37.94% | 11.9% | -372.64% | -18.17% | -1.09% | -6.08% | -52.73% | -7.14% | 58.59% | 31.79% | 35.81% | 38.19% | 10.29% |
| Income Tax | 111.57M | 199.03M | 263.81M | 315.25M | -46.88M | -973K | -266.41M | -32.72M | -5.84M | -199.65M | -128.54M | -16.12M | 307.59M | 135.06M | 92.49M | 46.79M | 42.96M |
| Effective Tax Rate % | 249.05% | 81.74% | 23.71% | 23.54% | -3.39% | -0.52% | 6.6% | 9.32% | 23.06% | 263.19% | 34.59% | 28.6% | 37.77% | 37.2% | 37.62% | 37.08% | 323.83% |
| Net Income | -66.77M | 44.46M | 848.63M | 1.02B | 1.86B | 319.6M | -3.69B | -128.24M | -35.3M | 123.8M | -500.09M | -40.25M | 506.88M | 227.96M | 153.39M | 79.39M | -29.7M |
| Net Margin % | -1.25% | 0.91% | 16.16% | 26.27% | 50.9% | 20.23% | -340.64% | -6.64% | -1.52% | 9.92% | -70.97% | -5.1% | 36.46% | 19.96% | 22.34% | 24.03% | -23.03% |
| Net Income Growth % | -107.68% | -94.76% | -17.11% | -44.84% | 480.77% | 108.66% | -2777.54% | -263.34% | -128.51% | 124.75% | -1142.53% | -107.94% | 122.35% | 48.62% | 93.21% | 367.35% | - |
| Net Income (Continuing) | -66.77M | 44.46M | 848.63M | 1.02B | 1.43B | 188.96M | -3.77B | -318.18M | -19.5M | 127.45M | -243.02M | -40.25M | 506.88M | 227.96M | 153.39M | 79.39M | -29.7M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 425.7M | 130.64M | 0 | 189.94M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 188.67M | 96.8M | 200.94M | 184.3M | 137.89M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -1.18 | 0.74 | 16.02 | 23.51 | 57.55 | 15.48 | -184.60 | -6.42 | -0.11 | 0.52 | -2.72 | -0.31 | 5.05 | 2.44 | 1.66 | 0.86 | -0.32 |
| EPS Growth % | -107.43% | -95.38% | -31.86% | -59.15% | 271.77% | 108.39% | -2775.39% | -5736.36% | -121.15% | 119.12% | -777.42% | -106.14% | 106.97% | 46.99% | 93.02% | 368.75% | - |
| EPS (Basic) | - | 0.74 | 16.32 | 24.59 | 60.86 | 16.15 | -184.60 | -6.42 | -0.11 | 0.53 | -2.72 | -0.31 | 5.09 | 2.45 | 1.66 | 0.86 | -0.32 |
| Diluted Shares Outstanding | 56.77M | 57.85M | 52.75M | 43.4M | 32.25M | 20.65M | 19.99M | 19.99M | 314.78M | 237.88M | 183.62M | 130.19M | 100.36M | 93.41M | 92.51M | 92.24M | 92M |
| Basic Shares Outstanding | 56.72M | 57.81M | 51.8M | 41.49M | 30.5M | 19.79M | 19.99M | 19.99M | 311.88M | 234.99M | 183.62M | 129.83M | 99.68M | 92.87M | 92.18M | 92.06M | 92M |
| Dividend Payout Ratio | - | 714.73% | 62.44% | 48.87% | 18.71% | 35.01% | - | - | - | - | - | - | - | - | - | - | - |
Bakken regional pricing volatility
According to quarterly financial data, Chord Energy experienced significant revenue fluctuations, peaking at $1.7 billion in 2026Q1, yet the company's top-line performance remains inconsistent, as evidenced by the 37.1% growth rate in the most recent quarter following a period of contraction throughout the 2025 fiscal year.
The recent revenue spike suggests that inorganic growth from the Enerplus acquisition is beginning to manifest in the top-line figures. However, investors should monitor whether this growth is sustainable or merely a reflection of temporary volume consolidation, as the underlying commodity price sensitivity remains a persistent headwind.
As reported in recent income statements, Chord Energy's gross margin has faced substantial pressure, dropping from a high of 39.1% in 2023Q4 to a low of 10.4% in 2025Q4, indicating potential challenges in maintaining profitability amidst rising operational costs and regional pricing differentials in the Williston Basin.
The significant variance in gross margins suggests that the company's cost structure is highly sensitive to the mix of purchased oil versus owned production. This volatility warrants further investigation into whether the current margin profile is a permanent feature of the post-merger operational model or a cyclical anomaly.
Based on the provided income statement data, Chord Energy's operating income has shown extreme sensitivity to cost fluctuations, with operating margins swinging from a negative 34.2% in 2025Q2 to a positive 20.0% in 2026Q1, highlighting a lack of consistent operating leverage in the current production environment.
The inability to consistently scale operating income faster than revenue suggests that fixed costs, particularly DD&A, are exerting significant pressure on the bottom line. This indicates that the company may struggle to achieve meaningful operating leverage until it can optimize its cost base across the expanded asset footprint.
Financial filings reveal that Chord Energy's net income has been highly erratic, with a notable net loss of $389.9 million in 2025Q2, suggesting that non-operating items and significant quarterly adjustments are obscuring the underlying earnings power of the company's core oil and gas production activities.
The wide swings in EPS, ranging from a loss of $6.77 to a gain of $7.05 over the observed period, indicate that investors should look past headline net income to assess true cash-generative capacity. The impact of stock-based compensation and derivative settlements appears to be a recurring factor that complicates the assessment of normalized profitability.
While management emphasizes the benefits of the Oasis-Whiting merger, the income statement data suggests that the company's reliance on high-cost production environments may be unsustainable, as evidenced by the persistent margin compression and the potential for diminishing returns on Tier 1 drilling locations in the Williston Basin.
Short-sellers may focus on the company's inability to maintain stable margins despite its scale, arguing that the Williston Basin is a mature play with limited upside. The risk remains that the company's current valuation overestimates the longevity of its high-quality inventory and the efficacy of its cost-synergy realization.
Quick answers to the most common questions about buying CHRD stock.
For fiscal year 2025, Chord Energy Corporation (CHRD) reported total revenue of $4.88B. This represents a 3682.9% increase compared to $128.9M in 2010.
Chord Energy Corporation (CHRD) is profitable, generating $44.5M in net income for the fiscal year ending 2025 with a net profit margin of 0.9%.
Chord Energy Corporation (CHRD) reported an operating income of $198.5M, resulting in an operating profit margin of 4.1%. This margin reflects the operational efficiency of the business before interest and taxes.
Chord Energy Corporation (CHRD) generated $315.0M in gross profit for the year, representing a gross profit margin of 6.5%. This demonstrates the company's core pricing power and production efficiency.