Cash Flow Statement
The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.
The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.
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- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Net Profit Margin since 2005
- Current Ratio since 2005
- Debt to Equity since 2005
- Total Asset Turnover since 2005
- Price to Book Value (P/BV) since 2005
- Price to Sales (P/S) since 2005
- Aggregate Accruals
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ConocoPhillips, consolidated cash flow statement
US$ in millions
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).
The cash flow statement reveals a dynamic financial picture over the five-year period. While net cash provided by operating activities remains consistently positive, significant fluctuations are observed in investing and financing activities, impacting overall cash position. Net income demonstrates considerable volatility, peaking in 2022 before declining in subsequent years.
- Operating Activities
- Net cash provided by operating activities generally remains strong, fluctuating between approximately US$19.8 billion and US$28.3 billion. Adjustments to reconcile net income to net cash consistently contribute positively, ranging from US$8.9 billion to US$11.8 billion annually. A notable increase in depreciation, depletion, and amortization is observed, rising from US$7.2 billion in 2021 to US$11.5 billion in 2025, contributing to the positive adjustments. Deferred taxes show variability, with a significant decrease in 2024 and 2025. Working capital adjustments exhibit fluctuations, with notable increases in 2021 and decreases in 2023 and 2024.
- Investing Activities
- Net cash used in investing activities is consistently negative, indicating substantial investment. Capital expenditures and investments represent the largest outflow, increasing from US$5.3 billion in 2021 to US$12.5 billion in 2025. Acquisition of businesses represents a significant cash outflow in 2021 and 2023. Proceeds from asset dispositions provide some offset, peaking in 2025 at US$3.2 billion, but are insufficient to offset the overall negative cash flow from investing. Net (purchases) sales of investments also fluctuate considerably.
- Financing Activities
- Net cash used in financing activities is consistently negative, driven primarily by share repurchases and dividend payments. Repurchase of company common stock is a major outflow, decreasing from US$3.6 billion in 2021 to US$5.0 billion in 2025. Dividend payments also represent a substantial outflow, remaining relatively stable around US$5.6 billion annually. Issuance of debt provides some cash inflow in 2022 and 2023, while repayment of debt consistently represents a cash outflow. The issuance of company common stock provides a minor inflow in 2021 and 2022, but becomes a minor outflow in 2023, 2024 and 2025.
- Cash Position
- The net change in cash, cash equivalents, and restricted cash is variable, with a positive change in 2021, 2022 and 2025, and negative changes in 2023 and 2024. Despite the fluctuations, the cash balance demonstrates an overall upward trend, increasing from US$3.3 billion in 2021 to US$6.9 billion in 2025. The effect of exchange rate changes on cash is relatively small, with a positive impact in 2025.
Overall, the company demonstrates a capacity to generate cash from operations, but consistently invests heavily in its business and returns capital to shareholders through dividends and share repurchases. The volatility in net income and the significant cash outflows related to investing and financing activities require ongoing monitoring.