Historical source-based research. Compilation date and financial period are different dates.
Observation
Across 10 eligible energy companies, the equal-weight median equity as a share of assets was 46.58% for the latest selected annual periods.
Data context
The eligible sample covers 10 of 10 selected companies. The latest selected annual periods span 2025-12-31 to 2025-12-31. Companies have different fiscal year ends. This is a cross-sectional research sample, not a calendar-year index or a representation of the full sector.
Company evidence
CVX 57.54% (period 2025-12-31); SHEL 47.09% (period 2025-12-31); COP 52.88% (period 2025-12-31); MPC 20.62% (period 2025-12-31); VLO 40.91% (period 2025-12-31); PSX 39.49% (period 2025-12-31); SLB 47.59% (period 2025-12-31); EOG 57.59% (period 2025-12-31); OXY 42.80% (period 2025-12-31); BKR 46.07% (period 2025-12-31).
Distribution
The sample range is 20.62% (MPC) to 57.59% (EOG). The median is computed across company ratios with equal weight; it is not a ratio of aggregate totals. Extreme values can reflect a small denominator or unusual accounting items.
Interpretation
Producers, refiners and service providers respond differently to commodity prices, project spending and capacity utilization. The numerator is shareholdersEquity; the denominator is total assets. Only positive denominators and disclosed numerators qualify. No missing value is replaced with zero.
What to watch
Realized prices, production volumes, refining economics and capital expenditure.
Research limitations
Commodity cycles, project execution, reserve replacement, environmental liabilities and geopolitical exposure. The sample uses a September 18, 2026 source snapshot. It does not establish current market conditions, causal drivers or future returns. Sector labels are editorial and the financial-sector cash-flow measures need particular caution.
| Company | Value | Period end |
|---|---|---|
| CVX | 57.54% | 2025-12-31 |
| SHEL | 47.09% | 2025-12-31 |
| COP | 52.88% | 2025-12-31 |
| MPC | 20.62% | 2025-12-31 |
| VLO | 40.91% | 2025-12-31 |
| PSX | 39.49% | 2025-12-31 |
| SLB | 47.59% | 2025-12-31 |
| EOG | 57.59% | 2025-12-31 |
| OXY | 42.80% | 2025-12-31 |
| BKR | 46.07% | 2025-12-31 |
Sources & dates
- CVX · period 2025-12-31 ↗Source date 2026-02-24
- SHEL · period 2025-12-31 ↗Source date 2026-03-12
- COP · period 2025-12-31 ↗Source date 2026-02-17
- MPC · period 2025-12-31 ↗Source date 2026-02-26
- VLO · period 2025-12-31 ↗Source date 2026-02-25
- PSX · period 2025-12-31 ↗Source date 2026-02-20
- SLB · period 2025-12-31 ↗Source date 2026-01-23
- EOG · period 2025-12-31 ↗Source date 2026-02-24
- OXY · period 2025-12-31 ↗Source date 2026-02-18
- BKR · period 2025-12-31 ↗Source date 2026-02-05