Stock Analysis on Net
Stock Analysis on Net

ConocoPhillips (NYSE:COP)

$24.99

Common-Size Income Statement
Quarterly Data

Paying user area

Try for free

ConocoPhillips pages available for free this week:

The data is hidden behind: . Unhide it.

Get access

This is a one-time payment. There is no automatic renewal.

We accept:

Visa Mastercard Maestro Discover JCB PayPal Google Pay
Visa Secure Mastercard Identity Check

ConocoPhillips, common-size consolidated income statement (quarterly data)

Microsoft Excel
3 months ended: 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
Sales and other operating revenues
Equity in earnings of affiliates
Gain (loss) on dispositions
Other income
Revenues and other income
Purchased commodities
Production and operating expenses
Selling, general and administrative expenses
Exploration expenses
Depreciation, depletion and amortization
Impairments
Taxes other than income taxes
Accretion on discounted liabilities
Operating income
Interest and debt expense
Foreign currency transaction gain (loss)
Other expenses
Income before income taxes
Income tax provision
Net income

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 financial performance over the analyzed period is characterized by significant volatility in operating margins and net profitability, reflecting the cyclical nature of the industry and fluctuating cost structures. A peak in profitability was observed in the first half of 2022, followed by a prolonged period of margin compression that reached its nadir in late 2025 before showing a sharp recovery in the first half of 2026.

Revenue and Supplemental Income Trends
Total revenues and other income consistently exceeded base sales and other operating revenues, typically ranging between 101.8% and 108.6%. Equity in earnings of affiliates showed a general upward trend from 1.24% in early 2021 to a peak of 3.38% in September 2024, before moderating toward 1.25% by June 2026. Gains on dispositions remained inconsistent, with occasional spikes, such as 4.60% in March 2022 and 2.48% in December 2025, indicating periodic asset divestment activities.
Operational Expenditure Patterns
Purchased commodities represent the most substantial cost component, exhibiting significant fluctuations between 31.37% and 47.07% of revenues. This item is the primary driver of short-term margin volatility. Production and operating expenses remained relatively stable between 8% and 15% until 2023, after which an increasing trend emerged, peaking at 19.57% in September 2025. Depreciation, depletion, and amortization (DD&A) also showed a marked increase over time, rising from lows of approximately 8.5% in mid-2022 to a peak of 22.39% in December 2025, suggesting increased capital intensity or the impact of higher-cost asset acquisitions.
Operating Income and Profitability
Operating income experienced a sharp ascent to a peak of 45.06% in March 2022, followed by a steady decline to 18.25% by December 2025. This contraction was driven by the simultaneous increase in production expenses and DD&A. However, a strong recovery is evident in the first half of 2026, with operating income rebounding to 32.56% by June 2026. Net income mirrored this trajectory, peaking at 32.42% in March 2022, declining to a low of 10.77% in December 2025, and recovering to 20.52% by June 2026.
Tax and Interest Obligations
Interest and debt expenses remained relatively stable and low, generally fluctuating between 0.95% and 2.30% of revenues, indicating a consistent debt service profile. The income tax provision exhibited volatility, ranging from 4.66% to 13.86%, which correlates with the variability in pre-tax income levels. Taxes other than income taxes stayed within a tight band of 3.06% to 4.82% throughout the period.