Stock Analysis on Net

ConocoPhillips (NYSE:COP) 

Analysis of Short-term (Operating) Activity Ratios

Microsoft Excel LibreOffice Calc

Short-term Activity Ratios (Summary)

ConocoPhillips, short-term (operating) activity ratios

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Turnover Ratios
Inventory turnover 19.75 12.40 16.73 19.37 16.65
Receivables turnover 7.00 7.13 9.97 9.29 6.96
Payables turnover 4.77 4.65 5.40 5.05 4.40
Working capital turnover 11.37 2.80 3.30 6.19 4.09
Average No. Days
Average inventory processing period 18 29 22 19 22
Add: Average receivable collection period 52 51 37 39 52
Operating cycle 70 80 59 58 74
Less: Average payables payment period 77 78 68 72 83
Cash conversion cycle -7 2 -9 -14 -9

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. ConocoPhillips inventory turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.
Receivables turnover An activity ratio equal to revenue divided by receivables. ConocoPhillips receivables turnover ratio deteriorated from 2019 to 2020 and from 2020 to 2021.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. ConocoPhillips payables turnover ratio decreased from 2019 to 2020 but then slightly increased from 2020 to 2021.
Working capital turnover An activity ratio calculated as revenue divided by working capital. ConocoPhillips working capital turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. ConocoPhillips number of days of inventory outstanding deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. ConocoPhillips number of days of receivables outstanding deteriorated from 2019 to 2020 and from 2020 to 2021.
Operating cycle Equal to average inventory processing period plus average receivables collection period. ConocoPhillips operating cycle deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021.
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. ConocoPhillips number of days of payables outstanding increased from 2019 to 2020 but then slightly decreased from 2020 to 2021.
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. ConocoPhillips cash conversion cycle deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level.

Inventory Turnover

ConocoPhillips, inventory turnover calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Cost of operating revenues 23,852  12,422  17,164  19,507  17,648 
Inventories 1,208  1,002  1,026  1,007  1,060 
Short-term Activity Ratio
Inventory turnover1 19.75 12.40 16.73 19.37 16.65
Benchmarks
Inventory Turnover, Competitors2
Chevron Corp. 17.46 12.48 17.36 20.18 17.05
Exxon Mobil Corp. 10.18 6.60 9.75 10.17 9.55
Marathon Oil Corp. 72.74 40.75 70.32 61.48 34.71
Occidental Petroleum Corp. 5.23 4.46 5.76 5.21 4.49
Pioneer Natural Resources Co. 48.43 31.36 47.18 38.76 24.97
Valero Energy Corp. 17.69 10.87 14.76 17.06 14.01
Inventory Turnover, Sector
Oil, Gas & Consumable Fuels 13.64 8.74 12.59 13.83 12.32

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Inventory turnover = Cost of operating revenues ÷ Inventories
= 23,852 ÷ 1,208 = 19.75

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. ConocoPhillips inventory turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Receivables Turnover

ConocoPhillips, receivables turnover calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Sales and other operating revenues 45,828  18,784  32,567  36,417  29,106 
Accounts and notes receivable, net of allowance 6,543  2,634  3,267  3,920  4,179 
Short-term Activity Ratio
Receivables turnover1 7.00 7.13 9.97 9.29 6.96
Benchmarks
Receivables Turnover, Competitors2
Chevron Corp. 8.45 8.24 10.50 10.56 8.77
Devon Energy Corp. 7.91 8.03 7.48 12.13 8.35
Exxon Mobil Corp. 10.29 10.93 12.11 14.22 11.15
Marathon Oil Corp. 4.90 4.15 4.51 5.47 4.04
Occidental Petroleum Corp. 6.17 8.42 3.20 3.64 3.02
Pioneer Natural Resources Co. 10.61 10.11 9.37 13.51 8.28
Valero Energy Corp. 11.43 13.50 13.44 16.84 13.92
Receivables Turnover, Sector
Oil, Gas & Consumable Fuels 9.29 9.88 10.48 11.97 9.64

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Receivables turnover = Sales and other operating revenues ÷ Accounts and notes receivable, net of allowance
= 45,828 ÷ 6,543 = 7.00

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Receivables turnover An activity ratio equal to revenue divided by receivables. ConocoPhillips receivables turnover ratio deteriorated from 2019 to 2020 and from 2020 to 2021.

Payables Turnover

ConocoPhillips, payables turnover calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Cost of operating revenues 23,852  12,422  17,164  19,507  17,648 
Accounts payable 5,002  2,669  3,176  3,863  4,009 
Short-term Activity Ratio
Payables turnover1 4.77 4.65 5.40 5.05 4.40
Benchmarks
Payables Turnover, Competitors2
Chevron Corp. 6.69 6.47 7.20 8.25 6.54
Devon Energy Corp. 12.74 12.96 9.37 9.95 11.66
Exxon Mobil Corp. 7.18 7.11 7.31 9.16 7.48
Marathon Oil Corp. 5.05 3.70 3.87 4.47 3.13
Occidental Petroleum Corp. 2.48 2.83 1.19 1.34 1.27
Pioneer Natural Resources Co. 7.51 7.57 7.92 6.51 4.51
Valero Energy Corp. 8.87 10.79 10.15 12.97 10.71
Payables Turnover, Sector
Oil, Gas & Consumable Fuels 6.95 6.99 6.92 8.38 6.90

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Payables turnover = Cost of operating revenues ÷ Accounts payable
= 23,852 ÷ 5,002 = 4.77

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. ConocoPhillips payables turnover ratio decreased from 2019 to 2020 but then slightly increased from 2020 to 2021.

Working Capital Turnover

ConocoPhillips, working capital turnover calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Current assets 16,050  12,066  16,913  13,274  16,512 
Less: Current liabilities 12,021  5,366  7,043  7,395  9,397 
Working capital 4,029  6,700  9,870  5,879  7,115 
 
Sales and other operating revenues 45,828  18,784  32,567  36,417  29,106 
Short-term Activity Ratio
Working capital turnover1 11.37 2.80 3.30 6.19 4.09
Benchmarks
Working Capital Turnover, Competitors2
Chevron Corp. 22.40 24.25 77.75 23.20 163.64
Devon Energy Corp. 10.50 2.65 3.23 4.85 9.45
Exxon Mobil Corp. 110.19
Marathon Oil Corp. 30.44 7.76 12.98 5.42 7.31
Occidental Petroleum Corp. 13.76 29.88 5.46 7.07 14.38
Pioneer Natural Resources Co. 8.51 10.19 12.31 6.00
Valero Energy Corp. 26.42 9.89 18.65 16.84 11.40
Working Capital Turnover, Sector
Oil, Gas & Consumable Fuels 28.26 42.38 62.24 37.17 56.69

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Working capital turnover = Sales and other operating revenues ÷ Working capital
= 45,828 ÷ 4,029 = 11.37

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Working capital turnover An activity ratio calculated as revenue divided by working capital. ConocoPhillips working capital turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Average Inventory Processing Period

ConocoPhillips, average inventory processing period calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data
Inventory turnover 19.75 12.40 16.73 19.37 16.65
Short-term Activity Ratio (no. days)
Average inventory processing period1 18 29 22 19 22
Benchmarks (no. days)
Average Inventory Processing Period, Competitors2
Chevron Corp. 21 29 21 18 21
Exxon Mobil Corp. 36 55 37 36 38
Marathon Oil Corp. 5 9 5 6 11
Occidental Petroleum Corp. 70 82 63 70 81
Pioneer Natural Resources Co. 8 12 8 9 15
Valero Energy Corp. 21 34 25 21 26
Average Inventory Processing Period, Sector
Oil, Gas & Consumable Fuels 27 42 29 26 30

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 19.75 = 18

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. ConocoPhillips number of days of inventory outstanding deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Average Receivable Collection Period

ConocoPhillips, average receivable collection period calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data
Receivables turnover 7.00 7.13 9.97 9.29 6.96
Short-term Activity Ratio (no. days)
Average receivable collection period1 52 51 37 39 52
Benchmarks (no. days)
Average Receivable Collection Period, Competitors2
Chevron Corp. 43 44 35 35 42
Devon Energy Corp. 46 45 49 30 44
Exxon Mobil Corp. 35 33 30 26 33
Marathon Oil Corp. 74 88 81 67 90
Occidental Petroleum Corp. 59 43 114 100 121
Pioneer Natural Resources Co. 34 36 39 27 44
Valero Energy Corp. 32 27 27 22 26
Average Receivable Collection Period, Sector
Oil, Gas & Consumable Fuels 39 37 35 31 38

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 7.00 = 52

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. ConocoPhillips number of days of receivables outstanding deteriorated from 2019 to 2020 and from 2020 to 2021.

Operating Cycle

ConocoPhillips, operating cycle calculation, comparison to benchmarks

No. days

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data
Average inventory processing period 18 29 22 19 22
Average receivable collection period 52 51 37 39 52
Short-term Activity Ratio
Operating cycle1 70 80 59 58 74
Benchmarks
Operating Cycle, Competitors2
Chevron Corp. 64 73 56 53 63
Exxon Mobil Corp. 71 88 67 62 71
Marathon Oil Corp. 79 97 86 73 101
Occidental Petroleum Corp. 129 125 177 170 202
Pioneer Natural Resources Co. 42 48 47 36 59
Valero Energy Corp. 53 61 52 43 52
Operating Cycle, Sector
Oil, Gas & Consumable Fuels 66 79 64 57 68

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 18 + 52 = 70

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Operating cycle Equal to average inventory processing period plus average receivables collection period. ConocoPhillips operating cycle deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021.

Average Payables Payment Period

ConocoPhillips, average payables payment period calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data
Payables turnover 4.77 4.65 5.40 5.05 4.40
Short-term Activity Ratio (no. days)
Average payables payment period1 77 78 68 72 83
Benchmarks (no. days)
Average Payables Payment Period, Competitors2
Chevron Corp. 55 56 51 44 56
Devon Energy Corp. 29 28 39 37 31
Exxon Mobil Corp. 51 51 50 40 49
Marathon Oil Corp. 72 99 94 82 116
Occidental Petroleum Corp. 147 129 307 271 288
Pioneer Natural Resources Co. 49 48 46 56 81
Valero Energy Corp. 41 34 36 28 34
Average Payables Payment Period, Sector
Oil, Gas & Consumable Fuels 53 52 53 44 53

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 4.77 = 77

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. ConocoPhillips number of days of payables outstanding increased from 2019 to 2020 but then slightly decreased from 2020 to 2021.

Cash Conversion Cycle

ConocoPhillips, cash conversion cycle calculation, comparison to benchmarks

No. days

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data
Average inventory processing period 18 29 22 19 22
Average receivable collection period 52 51 37 39 52
Average payables payment period 77 78 68 72 83
Short-term Activity Ratio
Cash conversion cycle1 -7 2 -9 -14 -9
Benchmarks
Cash Conversion Cycle, Competitors2
Chevron Corp. 9 17 5 9 7
Exxon Mobil Corp. 20 37 17 22 22
Marathon Oil Corp. 7 -2 -8 -9 -15
Occidental Petroleum Corp. -18 -4 -130 -101 -86
Pioneer Natural Resources Co. -7 0 1 -20 -22
Valero Energy Corp. 12 27 16 15 18
Cash Conversion Cycle, Sector
Oil, Gas & Consumable Fuels 13 27 11 13 15

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 18 + 5277 = -7

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. ConocoPhillips cash conversion cycle deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level.