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ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids. It operates in five segments: Alaska; Lower 48; Canada; Europe, Middle East and North Africa; and Asia Pacific. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects. It serves in the United States, Canada, China, Equatorial Guinea, Libya, Malaysia, Norway, Singapore, the United Kingdom, and internationally. ConocoPhillips was founded in 1917 and is headquartered in Houston, Texas.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $58.9B | $25.6B | $8.0B | $7.2B | 12.4% | 7.7% | -13.6% |
| 2024 | $54.7B | $24.4B | $9.2B | $8.0B | 14.3% | -2.5% | -15.6% |
| 2023 | $56.1B | $25.8B | $11.0B | $8.7B | 22.2% | -28.5% | -41.3% |
| 2022 | $78.5B | $37.1B | $18.7B | $18.2B | 38.9% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 78,494 | 56,141 | 54,745 | 58,944 |
| Operating Revenue | - | 78,494 | 56,141 | 54,745 | 58,944 |
| Cost Of Revenue | - | 48,481 | 37,938 | 38,362 | 44,156 |
| Gross Profit | - | 30,013 | 18,203 | 16,383 | 14,788 |
| Operating Expense | - | 4,551 | 3,177 | 3,600 | 3,446 |
| Selling General And Administration | - | 623 | 705 | 1,158 | 893 |
| Total Expenses | - | 53,032 | 41,115 | 41,962 | 47,602 |
| Operating Income | - | 25,462 | 15,026 | 12,783 | 11,342 |
| EBITDA | - | 37,127 | 25,783 | 24,425 | 25,570 |
| Normalized EBITDA | - | 35,687 | 25,661 | 24,404 | 24,876 |
| EBIT | - | 29,283 | 17,351 | 14,780 | 13,889 |
| Interest Income | - | 195 | 412 | 402 | 311 |
| Interest Expense | - | 1,055 | 1,063 | 1,108 | 1,233 |
| Net Interest Income | - | -860 | -651 | -706 | -922 |
| Other Non Operating Income Expenses | - | 105 | 71 | -131 | 207 |
| Other Income Expense | - | 3,626 | 1,913 | 1,595 | 2,236 |
| Interest Income Non Operating | - | 195 | 412 | 402 | 311 |
| Interest Expense Non Operating | - | 1,055 | 1,063 | 1,108 | 1,233 |
| Net Non Operating Interest Income Expense | - | -860 | -651 | -706 | -922 |
| Pretax Income | - | 28,228 | 16,288 | 13,672 | 12,656 |
| Tax Provision | - | 9,548 | 5,331 | 4,427 | 4,668 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 486.72 | 39.89 | 6.80 | 256.09 |
| Net Income Continuous Operations | - | 18,680 | 10,957 | 9,245 | 7,988 |
| Net Income From Continuing And Discontinued Operation | - | 18,680 | 10,957 | 9,245 | 7,988 |
| Net Income From Continuing Operation Net Minority Interest | - | 18,680 | 10,957 | 9,245 | 7,988 |
| Net Income | - | 18,680 | 10,957 | 9,245 | 7,988 |
| Net Income Common Stockholders | - | 18,620 | 10,922 | 9,218 | 7,961 |
| Net Income Including Noncontrolling Interests | - | 18,680 | 10,957 | 9,245 | 7,988 |
| Normalized Income | - | 17,726.72 | 10,874.89 | 9,230.80 | 7,550.09 |
| Diluted NI Availto Com Stockholders | - | 18,620 | 10,922 | 9,218 | 7,961 |
| Basic Average Shares | - | 1,274.03 | 1,202.76 | 1,178.92 | 1,252.04 |
| Diluted Average Shares | - | 1,278.16 | 1,205.68 | 1,180.87 | 1,253.45 |
| Reconciled Depreciation | - | 7,844 | 8,432 | 9,645 | 11,681 |
| Reconciled Cost Of Revenue | - | 48,481 | 37,938 | 38,362 | 44,156 |
| Total Unusual Items | - | 1,440 | 122 | 21 | 694 |
| Total Unusual Items Excluding Goodwill | - | 1,440 | 122 | 21 | 694 |
| Minority Interests | 0 | 0 | - | - | - |
| Special Income Charges | - | 1,089 | 214 | -29 | 705 |
| Impairment Of Capital Assets | - | -12 | 14 | 80 | 26 |
| Gain On Sale Of Security | - | 351 | -92 | 50 | -11 |
| Gain On Sale Of Ppe | - | 1,077 | 228 | 51 | 731 |
| Other Operating Expenses | - | 564 | 398 | 355 | 407 |
| Otherunder Preferred Stock Dividend | - | 60 | 35 | 27 | 27 |
| Earnings From Equity Interest | - | 2,081 | 1,720 | 1,705 | 1,335 |
| Other Taxes | - | 3,364 | 2,074 | 2,087 | 2,146 |
Energy sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| ConocoPhillipsthis co. | COP | $145.3B | 18.18↓ discount | 2.25 | 12.4% | 6.34 |
| The Williams Companies, Inc. | WMB | $88.6B | 33.84 | 6.94 | 20.5% | 15.90 |
| SLB N.V. | SLB | $86.7B | 25.70 | 3.32 | 12.9% | 13.70 |
| Marathon Petroleum Corporation | MPC | $78.0B | 19.26 | 4.50 | 23.4% | 9.30 |
| Valero Energy Corporation | VLO | $76.9B | 32.73 |
| - |
| - |
| - |
| - |
| - |
| 3.24 |
| 9.9% |
| 12.48 |
| EOG Resources, Inc. | EOG | $75.0B | 15.07 | 2.52 | 16.7% | 7.24 |
| Phillips 66 | PSX | $73.8B | 16.77 | 2.54 | 15.1% | 9.47 |
| Kinder Morgan, Inc. | KMI | $70.5B | 23.08 | 2.26 | 9.8% | 14.25 |
| Baker Hughes Company | BKR | $65.6B | 25.34 | 3.48 | 13.7% | 15.85 |
| Peer Median | - | 24.21 | 3.28 | 14.4% | 13.09 | |