Enterprise Value (EV)
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ConocoPhillips pages available for free this week:
- 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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Current Enterprise Value (EV)
ConocoPhillips, current enterprise value calculation
| Current share price (P) | |
| No. shares of common stock outstanding | |
| US$ in millions | |
| Common equity (market value)1 | |
| Total equity | |
| Add: Short-term debt (per books) | |
| Add: Long-term debt (per books) | |
| Total equity and debt | |
| Less: Cash and cash equivalents | |
| Less: Short-term investments | |
| Less: Investment in Cenovus Energy | |
| Enterprise value (EV) | |
Based on: 10-K (reporting date: 2025-12-31).
1 Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
Historical Enterprise Value (EV)
ConocoPhillips, EV calculation
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).
1 Data adjusted for splits and stock dividends.
2 Closing price as at the filing date of ConocoPhillips Annual Report.
3 2025 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
The information presents a five-year trend of several financial metrics, including common equity market value, total equity, total equity and debt, and enterprise value. Overall, enterprise value demonstrates a generally increasing trajectory, though with some fluctuation.
- Enterprise Value Trend
- Enterprise value increased from US$131.808 billion in 2021 to US$139.467 billion in 2022, representing a growth of approximately 5.8%. A further increase was observed in 2023, reaching US$142.912 billion. However, 2024 saw a slight decrease to US$142.203 billion. The most recent year, 2025, exhibits a renewed increase, with enterprise value reaching US$149.429 billion. This suggests a generally positive trend in the company’s total value, as measured by enterprise value, despite a minor dip in 2024.
- Equity and Debt Relationship
- Total equity and debt consistently exceeds total equity across the observed period. In 2021, total equity and debt was US$138.399 billion, compared to total equity of US$118.465 billion. This difference widened slightly in 2022 to US$148.710 billion and US$132.067 billion respectively. While total equity and debt experienced a slight increase in 2023 to US$149.518 billion, it decreased slightly in 2024 to US$148.317 billion before increasing again in 2025 to US$156.410 billion. This indicates a consistent reliance on debt financing alongside equity.
- Common Equity Market Value
- Common equity (market value) mirrored the trend of total equity, starting at US$118.465 billion in 2021 and increasing to US$132.067 billion in 2022. A slight decrease was noted in 2023 to US$130.581 billion, followed by a further decrease in 2024 to US$123.993 billion. The final year, 2025, shows a recovery to US$132.966 billion. The fluctuations in common equity market value likely influence the overall enterprise value.
- Consistency Between Equity Measures
- Total equity and common equity (market value) are reported as identical figures across all years. This suggests that the company has no significant components of other equity accounts, such as accumulated other comprehensive income, or that these components are immaterial to the overall equity value.
In conclusion, the enterprise value generally increased over the five-year period, with a minor interruption in 2024. The company consistently utilizes both equity and debt financing, and the market value of common equity exhibits fluctuations that correspond with changes in enterprise value.