Skip to the list

National and state oil companies

The 5 companies in this industry listed on the NYSE and Nasdaq are worth $429 bn combined; the largest are Petrobras (PBR), Equinor (EQNR) and Eni S.p.A. (E). For each one: what it does, revenue, margin, free cash flow over the last five years and a score from 0 to 10.

Data as of October 2026

Open contest
5 companies value 429 bn revenue 359 bn margin 10.5% free cash flow 64 bn avg. score 6.6
PBR holds 38.4% of the group's value, 1.4x the runner-up
Rank Ticker Company Share Value Revenue Margin FCF 5 years FCF/px Yield What it does · why it is here
1 PBR Petrobras
Brazil · score 8.2
38% 165 bn 104 bn 24.6% 41 bn 24.7% 3.5% Oil, gas and refining in Brazil, including the pre-salt · One of the world's largest oil producers; the global leader in deepwater (pre-salt)
2 EQNR Equinor
Norway · score 6.8
27% 115 bn 106 bn 4.8% 6.0 bn 5.2% 4.2% Oil, gas and offshore wind, from Norway · Norwegian state-controlled company; Europe's largest gas supplier after the Russian cutoff
3 E Eni S.p.A.
Italy · score 5.6
22% 93 bn 92 bn 3.4% 5.2 bn 5.6% — Oil and gas, refining, chemicals and renewable energy, from Italy · Italian integrated oil major with a strong presence in Africa and the Mediterranean
4 EC Ecopetrol
Colombia · score 7.4
9% 37 bn 37 bn 12.1% 7.3 bn 20.0% 10.0% Oil, gas and refining in Colombia · Colombia's largest company; heavy oil and Andean refining
5 YPF YPF S.A.
Argentina · score 4.9
5% 20 bn 18 bn -4.3% 5.0 bn 24.9% — Oil, gas and refining in Argentina, including Vaca Muerta · Controls development of Vaca Muerta, the largest shale reserve outside the US

Other industries in the same sector

and 5 industries more
What this is. A catalogue, not a guide. Every industry with stocks listed on the NYSE or NASDAQ, the companies contending for its leadership, what each one does according to its own annual report, and the balance sheet it filed with the SEC.

The score runs from 0 to 10 and compares each company with every other one in the almanac on cash generation, profitability, debt, dividends and consistency over the last five years. The higher it is, the better the company fares in that comparison. Curious how much each part weighs? Ask at the bottom of the page.

Have a question or a suggestion, or found a mistake?

Write here: a question about the score, a missing company or industry, a number that looks wrong. Every message is read, and the email is so I can reply.