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ConocoPhillips

COP

ConocoPhillips • NYSE
$88.69 ▲ 1.84% (+1.60)
Market Cap $110.50 B
52w High $108.74
52w Low $79.88
Dividend Yield 3.18%
P/E 12.53
Volume 3.30M
Outstanding Shares 1.25B

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $15.522B ▲ $2.632B ▲ $1.726B ▼ 11.12% ▼ $1.38 ▼ $6.068B ▼
Q2-2025 $13.979B ▼ $822M ▲ $1.964B ▼ 14.05% ▼ $1.562 ▼ $6.206B ▼
Q1-2025 $16.458B ▲ $742M ▼ $2.84B ▲ 17.256% ▲ $2.23 ▲ $7.572B ▲
Q4-2024 $14.238B ▲ $1.15B ▲ $2.3B ▲ 16.154% ▲ $1.9 ▲ $5.908B ▲
Q3-2024 $12.992B $662M $2.052B 15.794% $1.77 $5.894B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $6.256B ▲ $122.472B ▼ $57.549B ▲ $64.923B ▼
Q2-2025 $5.34B ▼ $122.599B ▼ $57.027B ▼ $65.572B ▲
Q1-2025 $7.235B ▲ $124.254B ▲ $59.016B ▲ $65.238B ▲
Q4-2024 $6.114B ▼ $122.78B ▲ $57.984B ▲ $64.796B ▲
Q3-2024 $6.792B $96.699B $46.818B $49.881B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $1.733B ▼ $5.878B ▲ $-3.179B ▼ $-2.324B ▲ $359M ▲ $12.542B ▲
Q2-2025 $1.964B ▼ $3.485B ▼ $-2.461B ▼ $-2.483B ▲ $-1.408B ▼ $199M ▼
Q1-2025 $2.849B ▲ $6.115B ▲ $-2.346B ▼ $-3.137B ▼ $715M ▲ $2.737B ▲
Q4-2024 $2.313B ▲ $4.457B ▼ $-2.2B ▲ $-1.769B ▲ $383M ▼ $1.14B ▼
Q3-2024 $2.059B $5.763B $-2.658B $-2.198B $948M $2.847B

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Crude oil product line
Crude oil product line
 $9.53Bn ▲$10.83Bn ▲$9.53Bn ▼$10.01Bn ▲
Natural Gas Liquids
Natural Gas Liquids
 $850.00M ▲$1.05Bn ▲$940.00M ▼$890.00M ▼
Natural Gas Product Line
Natural Gas Product Line
 $2.10Bn ▲$2.83Bn ▲$1.93Bn ▼$2.02Bn ▲
Other Products
Other Products
 $1.76Bn ▲$1.80Bn ▲$1.61Bn ▼$2.12Bn ▲

Five-Year Company Overview

Income Statement

Income Statement ConocoPhillips’ earnings are clearly tied to commodity prices, but the company has shown it can be very profitable when markets are healthy. Revenue and profit surged in 2021 and especially 2022 during strong oil and gas prices, then stepped down in 2023 and 2024 as prices normalized. Even after that pullback, recent profits remain strong compared with the pre‑pandemic period. Margins have stayed healthy, suggesting the business is operating efficiently rather than just riding price spikes. The swing from losses in 2020 to solid earnings since then shows both the cyclicality of the sector and the company’s improved cost structure.

Balance Sheet

Balance Sheet The balance sheet has strengthened meaningfully over the past five years. Total assets and shareholders’ equity have grown, reflecting reinvestment in the business and retained profits. Debt has increased from pandemic-era levels but remains moderate relative to the company’s size and equity base, indicating a manageable leverage profile rather than aggressive borrowing. Cash on hand has stayed fairly steady, giving the company ongoing flexibility but not an unusually large cash cushion. Overall, the financial foundation looks solid and better capitalized than a few years ago.

Cash Flow

Cash Flow ConocoPhillips is generating strong cash from its operations, comfortably covering its investment needs. Operating cash flow has been robust since 2021, and even after sizable spending on new projects and maintenance, free cash flow has remained solid in most years. Capital spending has risen as the company invests in its resource base and growth projects, but this has not choked off cash generation. The pattern suggests a business that can fund its own development, support shareholder returns, and still keep flexibility, as long as commodity prices do not collapse for an extended period.

Competitive Edge

Competitive Edge The company occupies a strong position among independent oil and gas producers. Its key advantage is a deep portfolio of relatively low‑cost resources across multiple regions, which helps it stay profitable even when prices are under pressure. Technology, scale, and operational discipline support this position, allowing ConocoPhillips to focus capital on the most attractive projects and to keep costs competitive. Exposure to liquefied natural gas and a global footprint add diversification. The main vulnerability remains dependence on volatile oil and gas prices and exposure to environmental and regulatory pressures facing the sector.

Innovation and R&D

Innovation and R&D ConocoPhillips is leaning heavily into digital and technical innovation to reinforce its low‑cost model and prepare for the energy transition. It is rolling out artificial intelligence, advanced data analytics, connected sensors, and digital twin models to improve well performance, reduce downtime, and enhance safety. Its proprietary LNG technology gives it a unique technical edge and a licensing income stream. At the same time, the company is investing in carbon capture, hydrogen, and other low‑carbon initiatives, often through partnerships and early-stage ventures. These efforts are still developing but show a clear intent to stay relevant in a lower‑carbon world while extracting more value from current operations.

Summary

Overall, ConocoPhillips looks like a well‑run, financially solid producer that has benefited from strong commodity markets and used that window to strengthen its balance sheet and upgrade its portfolio. Earnings and cash flow are cyclical but have improved markedly since the 2020 downturn, and the company appears disciplined in how it invests and manages costs. Its competitive edge rests on low‑cost resources, technology advantages—especially in LNG and digital operations—and a measured push into low‑carbon projects. Key uncertainties include future oil and gas price levels, the pace and cost of the energy transition, and execution risk on large capital and decarbonization projects. For now, the company appears positioned to weather typical industry cycles while trying to adapt to longer‑term structural changes in energy markets.

NEWS

November 6, 2025 · 7:00 AM UTC

ConocoPhillips announces third-quarter 2025 results; increases quarterly ordinary dividend by 8% and announces preliminary 2026 guidance

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September 25, 2025 · 12:00 PM UTC

ConocoPhillips to hold third-quarter earnings conference call on Thursday, Nov. 6

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September 8, 2025 · 4:30 PM UTC

NextDecade Completes Commercialization of Rio Grande LNG Train 5 with 1.0 MTPA LNG Sale and Purchase Agreement with ConocoPhillips

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