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
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 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Cash and cash equivalents 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 4.78 3.94 4.61 6.01
Short-term investments 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 5.76 6.38 6.32 5.94
Accounts and notes receivable, net of allowance 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 4.40 3.36 2.43 3.48
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 1.23 1.62 2.11 1.87 2.01 1.28 1.54 0.65
Inventories 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 1.60 1.64 1.56 1.12
Prepaid expenses and other current assets 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 0.73 0.91 1.07 3.01
Current assets 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% 19.27% 17.51% 17.53% 20.21%
Investments and long-term receivables 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 12.80 13.13 13.22 13.39
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 0.07 0.07 0.18 0.18 0.26 0.26
Net properties, plants and equipment, net of accumulated DD&A 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 63.71 65.34 65.22 62.50
Other assets 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 4.04 3.83 3.76 3.64
Noncurrent assets 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% 80.73% 82.49% 82.47% 79.79%
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%

Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).


Cash and Cash Equivalents
The proportion of cash and cash equivalents relative to total assets exhibited moderate volatility across the periods. Initially declining from 6.01% in March 2020 to 3.38% in March 2021, it surged to a peak of 11.26% in September 2020. Following the peak, the ratio experienced fluctuations, ending at 5.08% in March 2025, indicating variability in liquidity management or cash reserves over time.
Short-Term Investments
Short-term investments as a percentage of total assets generally decreased from around 6% in early 2020 to below 1% in multiple subsequent quarters, indicating a significant reduction in short-term liquid investments. Minor recoveries were observed in mid-2022 and mid-2024, but the overall trend suggests a strategic shift away from short-term investment holdings toward other asset classes.
Accounts and Notes Receivable, Net of Allowance
This item showed a rising trend from 3.48% in March 2020 to a plateau around 7-8% during 2021 and 2022, followed by a slight decrease towards the end of the series, settling at 5.15% in March 2025. The initial growth suggests increased sales or credit extended, while the subsequent decline may reflect improved collections or changes in credit policy.
Investment in Cenovus Energy
Data on this investment is available only until December 2021, showing fluctuations between 0.65% and 2.11% of total assets without a clear directional pattern, followed by a cessation of entries, indicating potential divestment or reclassification after 2021.
Inventories
Inventories as a percentage of total assets remained relatively stable, generally fluctuating between 1.1% and 1.5% over the entire period. A slight upward drift is observable post-2021, ending at 1.48% in March 2025, suggesting consistent inventory management with minor adjustments over time.
Prepaid Expenses and Other Current Assets
Prepaid expenses and similar current assets decreased markedly from 3.01% in March 2020 to around 0.6-1.0% in following years, with minor fluctuations. This trend implies a reduction in prepaid balances or a realignment of current asset composition.
Current Assets
The ratio of current assets to total assets fluctuated within a range of approximately 12.7% to 23.1%, with a notable peak at 23.12% in September 2020 and a trough near 12.74% in March 2025. The variability indicates changing short-term asset allocations, possibly reflecting shifts in liquidity needs or working capital strategies.
Investments and Long-Term Receivables
This category showed a decline from about 13.4% in early 2020 to around 8-9% thereafter, stabilizing in the mid-8% to 9.7% range through to early 2025. The initial decrease may indicate disposals or amortization, while the subsequent stabilization suggests maintenance of a consistent long-term investment portfolio size relative to assets.
Loans and Advances, Related Parties
Minimal values are recorded for this item, all below 0.3%, with data only until mid-2021. The reduction to near zero thereafter points to repayment or discontinuation of related-party financing activities.
Net Properties, Plants, and Equipment, Net of Accumulated DD&A
This asset category, representing the majority share of total assets, showed pronounced growth from 62.5% in March 2020 to approximately 75-77% by the end of the period, with some fluctuations. The increase suggests ongoing capital investment and/or asset retention, underscoring the company's asset-intensive nature and possible expansion or upgrade of operational capacity.
Other Assets
Other assets remained stable between 2.1% and 3.8% across quarters. The marginal decrease after 2020 implies a slight reassessment or realignment of less material asset categories.
Noncurrent Assets
Noncurrent assets consistently composed the bulk of total assets, fluctuating from approximately 79.8% to a peak exceeding 87% in late 2024, before slightly retracting. This dominance highlights the company's reliance on long-lived assets, consistent with capital-intensive industry characteristics, and the incremental increase aligns with the growth in net property and equipment.
Total Assets
By definition, total assets remained constant at 100% throughout the timeframe, serving as the denominator for the relative asset category measures provided.