CompaniesRanked

2874 companies · fiscal year 2025 · SEC EDGAR · September 25, 2026

Largest energy companies by operating income

Operating income is profit from the core business before interest and tax. It strips out financing decisions, so it compares operations rather than balance sheets. Figures are for fiscal year 2025 and are read directly from each company's SEC filings; the source column on every row links to the document.

Ranks 1–99 of 99 · Fiscal year 2025 · Data as of September 25, 2026

Totalenergies (TTE) tops the list with $50.6B in operating income for fiscal 2025, ahead of Equinor ($25.4B) and ConocoPhillips ($12.7B). The top 10 together report $140B in operating income; the gap between #1 and #10 is ×11.78. 99 companies in Energy report operating income, 4.6% of the 2135-filer universe. The last place on the list, Nine Energy Service, comes in at $2.3M.

Operating income
#CompanyOperating incomeYoY15-year trend
1TotalenergiesTTEFR$50.6B+103.7%
2EquinorEQNRNO$25.4B−18.0%
3ConocoPhillipsCOPUS$12.7B−7.4%
4BPBPGB$12.6B+11.9%
5Marathon PetroleumMPCUS$8.3B+22.0%
6EnbridgeENBCA$7.8B+11.3%
7Eog ResourcesEOGUS$6.4B−21.0%
8MPLXMPLXUS$5.9B+12.4%
9EniEIT$5.7B−0.1%
10SLBSLBUS$4.3B−24.3%
11Woodside EnergyWDSAU$3.9B−13.8%
12Devon EnergyDVNUS$3.5B−6.6%
13EqtEQTUS$3.2B+374.2%
14Valero EnergyVLOUS$3.2B−15.3%
15Occidental PetroleumOXYUS$3.1B−22.3%
16Imperial OilIMOCA$3.1B−33.0%
17Baker HughesBKRUS$2.9B−6.6%
18Expand EnergyEXEUS$2.5B+$3.3B
19HalliburtonHALUS$2.3B−40.9%
20Pembina PipelinePBACA$2.0B+20.7%
21Ypf Sociedad AnonimaYPFAR$1.7B+17.6%
22Permian ResourcesPRUS$1.5B−16.2%
23TechnipfmcFTIGB$1.4B+24.1%
24Plains All American PipelinePAAUS$1.4B+65.2%
25Diamondback EnergyFANGUS$1.3B−71.2%
26Matador ResourcesMTDRUS$1.2B−14.5%
27OvintivOVVUS$1.1B−28.4%
28SasolSSLZA$1.1B+$2.5B
29Hess MidstreamHESMUS$1.0B+9.7%
30SM EnergySMUS$1.0B−7.1%
31SunocoSUNUS$935M+18.2%
32HF SinclairDINOUS$927M+255.2%
33Antero ResourcesARUS$884M+191,997.0%
34Weatherford InternationalWFRDUS$756M−19.4%
35Comstock ResourcesCRKUS$646M+$814M
36Gulfport EnergyGPORUS$600M+$837M
37California ResourcesCRCUS$598M−3.5%
38Par PacificPARRUS$539M+1,031.2%
39Diversified EnergyDECUS$535M+$632M
40South BowSOBOCA$497M−54.4%
41NovNOVUS$494M−43.6%
42ValarisVALBM$477M+35.4%
43Nabors IndustriesNBRBM$471M+13.0%
44Precision DrillingPDSCA$453M+89.0%
45Magnolia Oil & GasMGYUS$439M−14.2%
46NobleNEUS$416M−31.2%
47ValvolineVVVUS$390M+6.2%
48Alliance Resource PartnersARLPUS$385M−2.2%
49Borr DrillingBORRBM$322M−13.9%
50Black Stone MineralsBSMUS$308M+12.9%
51Oceaneering InternationalOIIUS$305M+23.7%
52BKVBKVUS$304M+$368M
53Murphy OilMURUS$301M−50.0%
54Delek USDKUS$301M+$793M
55Genesis EnergyGELUS$258M+51.9%
56CactusWHDUS$251M−13.5%
57Northern Oil & GasNOGUS$246M−70.7%
58Mach Natural ResourcesMNRUS$245M−15.8%
59Crescent EnergyCRGYUS$229M+5.0%
60Chord EnergyCHRDUS$197M−82.1%
61CVR EnergyCVIUS$182M+213.8%
62Delek Logistics PartnersDKLUS$182M−10.3%
63Phoenix Energy OnePHXE-PUS$176M+142.5%
64Highpeak EnergyHPKUS$150M−55.5%
65Flowco HoldingsFLOCUS$149M+27.6%
66Solaris Energy InfrastructureSEIUS$135M+156.3%
67Riley Exploration PermianREPXUS$133M−13.3%
68Kimbell Royalty PartnersKRPUS$133M+259.1%
69Innovex InternationalINVXUS$133M+170.2%
70GeoparkGPRKCO$111M−59.6%
71CalumetCLMTUS$109M+1,242.0%
72National Energy Services ReunitedNESRUS$98.3M−28.6%
73Waterbridge InfrastructureWBIUS$78.9M+39.8%
74North American ConstructionNOACA$78.1M−30.2%
75Amplify EnergyAMPYUS$76.9M+152.9%
76Liberty EnergyLBRTUS$72.7M−81.3%
77Prairie OperatingPROPUS$65.6M+$92.1M
78Hornbeck Offshore ServicesHOSUS$65.1M−48.9%
79Sandridge EnergySDUS$61.0M+83.4%
80Core LaboratoriesCLBUS$56.5M−3.6%
81Tetra TechnologiesTTIUS$55.4M+11.0%
82Quaker ChemicalKWRUS$53.0M−72.8%
83SeadrillSDRLUS$47.0M−88.6%
84Granite Ridge ResourcesGRNTUS$46.4M−21.7%
85Warrior Met CoalHCCUS$45.7M−82.1%
86RPCRESUS$44.7M−54.1%
87Natural Gas ServicesNGSUS$37.3M+11.9%
88Primeenergy ResourcesPNRGUS$30.5M−57.2%
89Forum Energy TechnologiesFETUS$30.1M+$117M
90Select Water SolutionsWTTRUS$28.8M−47.1%
91Nacco IndustriesNCUS$22.0M−38.4%
92Dorchester MineralsDMLPUS$21.0M+58.3%
93Vitesse EnergyVTSUS$17.1M−58.2%
94Ranger Energy ServicesRNGRUS$15.4M−46.2%
95Infinity Natural ResourcesINRUS$11.9M−87.3%
96NCS MultistageNCSMUS$10.5M+143.7%
97Propetro HoldingPUMPUS$6.4M+$173M
98Helmerich & PayneHPUS$3.3M−99.3%
99Nine Energy ServiceNINEUS$2.3M−73.7%

All figures from SEC filings · FY2025 · 99

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{{cite web |title=Largest energy companies by operating income |url=https://companiesranked.com/en/largest-energy-companies-by-operating-income |website=CompaniesRanked |date=2026-09-25 |language=en}}

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@misc{companiesranked-en-largest-energy-companies-by-operating-income-2026,
  author       = {{CompaniesRanked}},
  title        = {{Largest energy companies by operating income}},
  year         = {2026},
  howpublished = {\url{https://companiesranked.com/en/largest-energy-companies-by-operating-income}},
  note         = {Compiled from SEC EDGAR XBRL filings; data as of 2026-09-25},
  urldate      = {2026-09-25}
}

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