Income Statement
Quarterly Data
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
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- Balance Sheet: Assets
- Common-Size Balance Sheet: Assets
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Reportable Segments
- Enterprise Value to FCFF (EV/FCFF)
- Capital Asset Pricing Model (CAPM)
- Return on Assets (ROA) since 2005
- Price to Sales (P/S) since 2005
- Analysis of Debt
- Aggregate Accruals
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ConocoPhillips, consolidated income statement (quarterly data)
US$ in millions
Based on: 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), 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).
- Revenues and Operating Income
- Revenues and other income displayed a sharp decline in early 2020, reaching a low point in the second quarter, likely reflecting market disruptions. From mid-2020 onwards, revenues recovered steadily, peaking notably in the first half of 2022 before experiencing a downward adjustment through 2023 and into early 2024. Operating income followed a similar recovery pattern, moving from negative figures in early 2020 to substantially positive values over subsequent periods. Despite some volatility, it showed strong profitability particularly between 2021 and mid-2022, with a decline observed in late 2022 and 2023 periods, indicating some operational pressure or lower margins.
- Expenses
- Purchased commodities costs rose substantially from 2020 through 2022, correlating with the increase in revenues, but began to decrease in 2023, which could indicate lower commodity prices or changes in purchasing strategy. Production and operating expenses generally increased over time but showed some fluctuations—peaking in late 2023 and early 2024. Selling, general and administrative expenses fluctuated without a clear trend but spiked notably in the second quarter of 2025, which may indicate increased corporate expenses or restructuring costs. Exploration expenses were relatively volatile, with an unusual spike in the fourth quarter of 2020, suggesting an episodic event or write-off. Depreciation, depletion, and amortization steadily increased across all quarters, reflecting ongoing capital expenditure or asset base growth.
- Non-Operating Items and Other Income
- Equity in earnings of affiliates showed a positive and generally upward trajectory, increasing markedly through 2022 before stabilizing at a lower level in 2023 and 2024. Gains (losses) on dispositions were highly variable with significant gains in some quarters such as the first quarter of 2022 and the second quarter of 2025, hinting at occasional asset sales or divestitures contributing to income. Other income fluctuated significantly, with initial large negative impacts in early 2020 turning into moderate positive contributions in subsequent periods, indicating inconsistent ancillary income or loss activity.
- Income Taxes and Net Income
- Income tax provisions followed the pattern of income before taxes, with losses in early 2020 corresponding to tax benefits, and substantial provisions in periods of strong profitability from 2021 onwards. The tax burden peaked during 2022 and eased somewhat in 2023-2024. Net income mirrored operating income trends, with losses reported during the first half of 2020 and robust profitability thereafter. Net income peaked in the first quarter of 2022, then showed a general decline with some recovery in subsequent quarters. The net income attributable to the company closely tracked the overall net income, indicating limited impact from noncontrolling interests.
- Other Financial Items
- Interest and debt expense remained relatively stable, with a slight increase towards late 2024 and early 2025, suggesting minor changes in debt levels or borrowing costs. Foreign currency transaction gains and losses were inconsistent with no discernible trend, indicating exposure to currency fluctuations but not a significant source of income or loss. Other expenses were erratic, including a notable spike in the third quarter of 2022 and a large negative amount in the second quarter of 2025, which might point to unusual or one-time items.
- Impairments and Accretion
- Impairment charges were sporadic with notable severe impairment in the fourth quarter of 2021 and smaller amounts scattered across other periods. Accretion on discounted liabilities remained steady over time with a slight increase starting in late 2023, reflecting stable long-term obligations.
- Overall Financial Health and Trends
- The data depicts clear recovery and growth following a challenging period in early 2020, highlighted by improving revenues and profitability. However, the period from late 2022 through 2024 shows signs of moderation or pressure on earnings, accompanied by relatively steady or increasing costs in key expense categories. The company appears to have maintained operational strength despite market fluctuations, managing expenses, and generating consistent equity earnings. The volatility in other income and one-time gains suggests a degree of financial complexity, while stable interest expenses indicate controlled leverage. The trends point towards cautious optimism but highlight the need for close monitoring of expenses and external economic factors going forward.