ConocoPhillipsCOP
NYSE•Energy•Oil & Gas E&P
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.
ConocoPhillips (COP) reported trailing twelve months revenue of $60.50B as of March 2026, a 1.5% increase year-over-year. Quarterly revenue reached $16.05B, reflecting continued top-line momentum.
ConocoPhillips generated $7.32B in TTM net income, with quarterly EBITDA of $6.27B. The operating margin contracted from 26.1% to 20.9%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (20.9%) and net margin (13.6%) indicates moderate non-operating costs. Net margin has narrowed from 16.7% a year ago, reflecting increased costs or interest expense.
COP trades at a P/E of 18.6x (in line with broad market averages) and a P/S of 2.2x. The price-to-book ratio of 2.1x reflects a moderate premium to book value.
The company generated $1.35B in free cash flow over the trailing twelve months, a 50.8% decrease year-over-year, indicating cash generation ability. The balance sheet shows $122.72B in total assets with $22.26B in long-term debt against $64.54B in stockholders equity for a debt-to-equity ratio of 0.3, a conservative capital structure. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are under pressure, averaging 24.4%. The business may lack pricing power or face rising costs.'
ROE averages 15.2% but has fluctuated — the competitive advantage may be cyclical or emerging.
8 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
Revenue has grown modestly overall (~2.9%) but trajectory is uneven, suggesting a competitive or cyclical business.
Data-driven red flags and warnings across 21 quarters
Operating margins dropped 36.0% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.
FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.
D/E ratio is 0.3 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares outstanding rose 4.8% — mild dilution. Compare to earnings growth to assess net per-share impact.