Stock Analysis on Net

ConocoPhillips (NYSE:COP)

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Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

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ConocoPhillips, common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

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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
Accounts payable
Short-term debt
Accrued income and other taxes
Employee benefit obligations
Other accruals
Current liabilities
Long-term debt
Asset retirement obligations and accrued environmental costs
Deferred income taxes
Employee benefit obligations
Other liabilities and deferred credits
Noncurrent liabilities
Total liabilities
Common stock, $0.01 par value
Capital in excess of par
Treasury stock, at cost
Accumulated other comprehensive loss
Retained earnings
Equity
Total liabilities and equity

Based on: 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 capital structure remains remarkably stable over the analyzed period, with total liabilities and stockholders' equity maintaining a consistent equilibrium. Total liabilities generally fluctuate between 46.5% and 49.9%, while total equity consistently ranges between 50.5% and 53.6%, indicating a balanced approach to financing assets.

Liability Structure and Long-Term Debt Trends
A significant reduction in long-term debt is observed during the initial phase of the period, declining from 23.11% in March 2021 to a low of 16.69% by March 2023. Following this decline, the ratio stabilized, fluctuating between 17% and 19% through March 2026.
Deferred income taxes exhibit a steady and persistent upward trend, increasing from 5.95% in March 2021 to 10.09% by March 2026. This suggests that tax-related obligations are becoming a more prominent component of the noncurrent liability profile.
Current liabilities peaked in September 2022 at 14.76% before trending downward and stabilizing between 9% and 11%. This stability is mirrored in accounts payable, which consistently represents approximately 4% to 6% of the total balance sheet.
Equity Components and Capital Allocation
Retained earnings demonstrate a strong and consistent growth pattern, rising from 42.55% in March 2021 to 57.05% by March 2026. This trend indicates a high capacity for profit retention and internal capital generation.
An aggressive share repurchase strategy is evident in the treasury stock figures. The negative percentage intensified from -56.96% in March 2021 to a peak of -71.55% in September 2024, before moderating to -62.93% by March 2026. This activity has effectively offset the growth in retained earnings to keep total equity relatively stable.
Capital in excess of par shows a gradual decline from 72.02% to 63.36%, reflecting the evolving composition of shareholders' equity as treasury stock and retained earnings fluctuate.
Environmental and Other Obligations
Asset retirement obligations and accrued environmental costs remain a stable and significant portion of the noncurrent liabilities, typically fluctuating within a narrow band between 6.0% and 7.6%. This consistency suggests a predictable trajectory for long-term environmental decommissioning costs.
Other noncurrent liabilities, including employee benefit obligations, remain marginal and stable, generally contributing less than 2% each to the total liabilities and equity structure.