Stock Analysis on Net
Stock Analysis on Net

ConocoPhillips (NYSE:COP)

Common-Size Balance Sheet: Assets
Quarterly Data

ConocoPhillips, common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
Jun 30, 2026 Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021
Cash and cash equivalents 5.29 4.79 5.33 4.29 4.00 5.08 4.57 5.40 4.47 5.85 5.87 9.43 6.40 7.63 6.88 8.45 7.37 6.87 5.55 11.26 7.74 3.38
Short-term investments 0.90 0.40 0.40 0.81 0.36 0.75 0.41 1.62 1.79 0.51 1.01 0.66 1.21 1.79 2.97 2.54 1.36 0.78 0.49 0.78 2.64 4.90
Accounts and notes receivable, net 5.60 5.74 4.77 4.69 4.65 5.15 5.45 4.98 5.53 5.72 5.71 6.06 5.06 5.79 7.55 7.75 8.70 8.44 7.36 6.26 5.30 5.35
Investment in Cenovus Energy 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1.23 1.62 2.11 1.87
Inventories 1.51 1.56 1.54 1.41 1.55 1.48 1.47 1.55 1.51 1.51 1.46 1.42 1.38 1.38 1.30 1.29 1.32 1.26 1.33 1.19 1.33 1.31
Prepaid expenses and other current assets 2.15 0.74 0.71 1.77 0.82 1.15 0.84 0.91 1.00 0.80 0.89 0.79 1.03 1.04 1.28 1.53 1.38 1.49 1.74 2.00 0.99 0.64
Current assets 15.45% 13.22% 12.74% 12.97% 11.37% 13.61% 12.74% 14.46% 14.31% 14.39% 14.94% 18.35% 15.07% 17.62% 19.98% 21.57% 20.13% 18.85% 17.70% 23.12% 20.11% 17.46%
Investments and long-term receivables 8.33 8.41 8.35 8.23 8.45 8.05 8.04 9.51 9.69 9.58 9.52 9.32 9.62 8.96 8.77 8.65 8.76 8.90 7.85 9.23 9.38 9.90
Loans and advances, related parties 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.07 0.07
Net properties, plants and equipment, net of accumulated DD&A 73.43 75.89 76.46 76.34 77.69 75.91 76.85 73.14 73.16 73.32 73.02 70.01 73.05 71.18 69.13 67.14 68.32 69.28 71.60 64.93 67.58 69.62
Other assets 2.79 2.47 2.45 2.46 2.49 2.43 2.37 2.89 2.84 2.71 2.52 2.33 2.27 2.23 2.12 2.64 2.80 2.97 2.85 2.72 2.86 2.94
Noncurrent assets 84.55% 86.78% 87.26% 87.03% 88.63% 86.39% 87.26% 85.54% 85.69% 85.61% 85.06% 81.65% 84.93% 82.38% 80.02% 78.43% 79.87% 81.15% 82.30% 76.88% 79.89% 82.54%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).

The asset structure exhibits a strategic shift toward long-term capital investments, characterized by a gradual decrease in the proportion of current assets and a corresponding increase in non-current assets over the analyzed period.

Liquidity and Current Asset Trends
Current assets peaked at 23.12% in September 2021 before trending downward to a range between 11.37% and 15.45% by mid-2026. This decline is primarily driven by a reduction in cash and cash equivalents, which dropped from a high of 11.26% in September 2021 to consistently lower levels, typically between 4% and 6% in later years. Short-term investments followed a similar trajectory, falling from 4.90% in March 2021 to negligible levels, frequently remaining below 1% after 2023.
Fixed Asset Expansion
Net properties, plants, and equipment (PP&E) represent the dominant portion of the balance sheet and demonstrated a general upward trend in common-size weight. From 69.62% in March 2021, this figure reached a peak of 77.69% in June 2025, indicating an increased concentration of capital in long-term production infrastructure. Although a slight contraction to 73.43% occurred by June 2026, the overall asset profile remains more heavily weighted toward fixed assets than at the start of the period.
Noncurrent Asset Composition
Noncurrent assets generally expanded from 82.54% in early 2021 to a peak of 88.63% in June 2025. Long-term investments and receivables remained relatively stable, fluctuating within a narrow band between 7.85% and 9.69%, suggesting that the growth in noncurrent assets was driven primarily by PP&E rather than long-term financial holdings.
Working Capital Components
Accounts and notes receivable exhibited volatility, peaking at 8.70% in June 2022 before stabilizing between 4.65% and 5.74% in the most recent quarters. Inventories remained remarkably stable throughout the entire period, consistently fluctuating within a tight range of 1.19% to 1.56% of total assets, indicating a consistent inventory management strategy relative to total asset growth.

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