Common Stock Valuation Ratios (Price Multiples)
Quarterly Data
Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).
Paying user area
Try for free
ConocoPhillips pages available for free this week:
- Income Statement
- Common-Size Balance Sheet: Assets
- Analysis of Profitability Ratios
- Analysis of Reportable Segments
- Capital Asset Pricing Model (CAPM)
- Net Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Return on Assets (ROA) since 2005
- Debt to Equity since 2005
- Price to Sales (P/S) since 2005
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to ConocoPhillips for $24.99.
This is a one-time payment. There is no automatic renewal.
We accept:
Historical Valuation Ratios (Summary)
ConocoPhillips, historical price multiples (quarterly data)
Based on: 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 financial ratios over the analyzed periods demonstrate notable fluctuations and trends that can offer insights into valuation and performance perceptions.
- Price to earnings (P/E) ratio
- The P/E ratio shows a sharp initial decline from an extremely high level down to single digits during 2021 and early 2022, indicating an initial reduction in market valuation relative to earnings or a recovery in earnings levels. From mid-2022 onwards, the ratio moves within a moderate range mostly between approximately 7 and 14, with a mild upward trend observable towards the end of the time frame. This suggests relatively stabilized earnings expectations and valuation by the market, with some variations likely reflecting changing investor sentiment and earnings forecasts.
- Price to operating profit (P/OP) ratio
- The P/OP ratio follows a similar pattern to the P/E ratio, with a marked decline from very high figures in early 2021 to more moderate values below 10 by late 2021. Subsequently, this ratio oscillates mostly between 4.5 and 8.7, maintaining relative stability but showing a slight tendency to increase in the latter periods. The movement highlights market valuation becoming more aligned with operating profitability after an initial period of adjustment.
- Price to sales (P/S) ratio
- The P/S ratio shows a gradual downward trend from above 3 in early 2021 to levels around 1.5 to slightly above 2 in later years. This decline indicates that the market price per unit of sales is decreasing, potentially reflecting changing margins, sales growth expectations, or shifts in investor valuation focus. Despite some volatility, the overall trend towards lower P/S ratios suggests more conservative sales valuation by the market over time.
- Price to book value (P/BV) ratio
- The P/BV ratio starts near 1.7 and exhibits some volatility with several peaks and troughs throughout the periods. It reaches highs above 3 around late 2022 and early 2023 before declining gradually towards approximately 1.6 by the end of the last period. This pattern implies fluctuating market confidence in the company’s net asset value, with periods of heightened optimism followed by reversion to more moderate valuations relative to book value.
Overall, the valuation metrics reflect a normalization and stabilization trend after an initial period of extreme values. Earnings and operating profits became better aligned with market valuations over time, whereas sales and book value multiples experienced downward or fluctuating trends, indicating cautious investor appraisal of these metrics. The data suggests a maturing market perspective with balanced, though occasionally variable, valuation levels across the financial periods considered.
Price to Earnings (P/E)
ConocoPhillips, historical P/E calculation (quarterly data)
| 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | |||||||||||||||||||||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||
| Net income (loss) attributable to ConocoPhillips (in millions) | |||||||||||||||||||||||||
| Earnings per share (EPS)2 | |||||||||||||||||||||||||
| Share price1, 3 | |||||||||||||||||||||||||
| Valuation Ratio | |||||||||||||||||||||||||
| P/E ratio4 | |||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||
| P/E Ratio, Competitors5 | |||||||||||||||||||||||||
| Chevron Corp. | |||||||||||||||||||||||||
| Exxon Mobil Corp. | |||||||||||||||||||||||||
Based on: 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).
1 Data adjusted for splits and stock dividends.
2 Q3 2025 Calculation
EPS
= (Net income (loss) attributable to ConocoPhillipsQ3 2025
+ Net income (loss) attributable to ConocoPhillipsQ2 2025
+ Net income (loss) attributable to ConocoPhillipsQ1 2025
+ Net income (loss) attributable to ConocoPhillipsQ4 2024)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of ConocoPhillips Quarterly or Annual Report.
4 Q3 2025 Calculation
P/E ratio = Share price ÷ EPS
= ÷ =
5 Click competitor name to see calculations.
The analysis of the quarterly financial data reveals several notable trends and patterns over the specified periods. The share price demonstrates significant volatility with a general upward trajectory between March 2021 and September 2022, peaking in the third quarter of 2022. Following this peak, there is a declining trend with fluctuations, leading to a reduction in share price through September 2025.
Earnings per share (EPS) show a consistent upward trend from March 2021 to December 2022, indicating improving profitability. After reaching a high point in late 2022, EPS exhibit a gradual decline, stabilizing at a lower level by September 2025 compared to the peak periods. This decline, although moderate, marks a deviation from the earlier strong growth trend.
The price-to-earnings (P/E) ratio displays a remarkable decrease from an extremely high value in early 2021 to single-digit levels by mid-2022, reflecting a rapid increase in earnings relative to the share price. Post mid-2022, the P/E ratio oscillates within a moderate range, generally between 7 and 14, indicating a period of relative valuation stability. The incremental increase in P/E ratios after the mid-2023 period suggests a modest revaluation of the stock or a slight deceleration in earnings growth relative to the share price.
- Share Price Trends
- Rising sharply from early 2021, peaking in Q3 2022, followed by a gradual decline and fluctuations through late 2025.
- Earnings per Share (EPS)
- Strong, consistent growth through 2022, reaching a peak in Q4 2022, then exhibiting a steady but moderate decline through 2025.
- Price-to-Earnings (P/E) Ratio
- Drastically decreased from an exceptionally high level in early 2021 to a stabilized range between 7 and 14 post mid-2022, reflecting changing market valuation dynamics and earnings growth patterns.
Overall, the data indicates a phase of robust earnings improvement ahead of a peak, followed by moderation in both share price and profitability metrics. The stabilization in P/E ratios suggests the market reassessed valuation levels after significant growth, implying cautious investor sentiment or adjustments to expected future earnings. This comprehensive view highlights the evolving balance between profitability, market valuation, and share price movements over the analyzed timeframe.
Price to Operating Profit (P/OP)
ConocoPhillips, historical P/OP calculation (quarterly data)
| 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | |||||||||||||||||||||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||
| Operating income (loss) (in millions) | |||||||||||||||||||||||||
| Operating profit per share2 | |||||||||||||||||||||||||
| Share price1, 3 | |||||||||||||||||||||||||
| Valuation Ratio | |||||||||||||||||||||||||
| P/OP ratio4 | |||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||
| P/OP Ratio, Competitors5 | |||||||||||||||||||||||||
| Chevron Corp. | |||||||||||||||||||||||||
| Exxon Mobil Corp. | |||||||||||||||||||||||||
Based on: 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).
1 Data adjusted for splits and stock dividends.
2 Q3 2025 Calculation
Operating profit per share
= (Operating income (loss)Q3 2025
+ Operating income (loss)Q2 2025
+ Operating income (loss)Q1 2025
+ Operating income (loss)Q4 2024)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of ConocoPhillips Quarterly or Annual Report.
4 Q3 2025 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= ÷ =
5 Click competitor name to see calculations.
- Share Price Trends
- The share price exhibited a significant upward trajectory from March 31, 2021, starting at $55.70 and reaching a peak of $133.82 by September 30, 2022. Following this peak, the share price showed increased volatility and a general downward trend. By March 31, 2025, the share price declined to $85.66, indicating a reduction of approximately 36% from the peak value. This suggests fluctuating investor sentiment and potential market adjustments in the latter periods.
- Operating Profit Per Share (OPPS) Trends
- The operating profit per share demonstrated continuous growth from March 31, 2021, with an initial value of $0.78, rising steadily to a peak of $23.70 by December 31, 2021. Thereafter, it experienced a general upward trend peaking again at $23.70 in late 2021, followed by a gradual decline to $11.68 by September 30, 2025. The data indicates strong operational performance improvement in early periods, followed by a gradual stabilization and slight reduction in profitability per share in recent quarters.
- Price to Operating Profit Ratio (P/OP) Analysis
- The P/OP ratio, an indicator reflecting how the market values the company’s operating profit per share, started high at 71.79 in March 2021, suggesting that the share price was relatively elevated compared to earnings at that point. This ratio sharply decreased to below 10 by the end of 2021, reaching as low as 4.57 by December 31, 2022, indicating that the market valuation became more aligned or even undervalued relative to operating profits as OPPS increased. Subsequently, from 2023 to 2025, the P/OP ratio fluctuated between approximately 4.6 and 8.7, reflecting a moderate and stable market valuation relative to operating profits, despite the operating profit per share decreasing in this period.
- Overall Financial Insights
- The data reveals an initial period of strong growth in operating profit per share accompanied by a corresponding increase in share price, leading to a normalizing effect on the P/OP ratio as earnings growth caught up with share price gains. The subsequent decline in share price after late 2022, despite relatively stable operating profits, suggests external factors or market concerns may have influenced valuation. The gradual decrease in operating profit per share toward 2025, coupled with an oscillating P/OP ratio, indicates a phase of adjustment where profitability growth slowed and investor valuation became more cautious. This pattern implies the company entered a more mature operational phase with normalized earnings expectations and more conservative market pricing.
Price to Sales (P/S)
ConocoPhillips, historical P/S calculation (quarterly data)
| 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | |||||||||||||||||||||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||
| Sales and other operating revenues (in millions) | |||||||||||||||||||||||||
| Sales per share2 | |||||||||||||||||||||||||
| Share price1, 3 | |||||||||||||||||||||||||
| Valuation Ratio | |||||||||||||||||||||||||
| P/S ratio4 | |||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||
| P/S Ratio, Competitors5 | |||||||||||||||||||||||||
| Chevron Corp. | |||||||||||||||||||||||||
| Exxon Mobil Corp. | |||||||||||||||||||||||||
Based on: 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).
1 Data adjusted for splits and stock dividends.
2 Q3 2025 Calculation
Sales per share
= (Sales and other operating revenuesQ3 2025
+ Sales and other operating revenuesQ2 2025
+ Sales and other operating revenuesQ1 2025
+ Sales and other operating revenuesQ4 2024)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of ConocoPhillips Quarterly or Annual Report.
4 Q3 2025 Calculation
P/S ratio = Share price ÷ Sales per share
= ÷ =
5 Click competitor name to see calculations.
- Share Price Trend
- The share price exhibited significant volatility across the periods analyzed. Initially, it increased steadily from $55.7 to a peak of $133.82 in the third quarter of 2022, indicating strong market performance during this timeframe. Subsequently, the share price declined considerably, dropping to $85.66 by the third quarter of 2025. This reflects a downward trend in market valuation over the latter periods.
- Sales Per Share Trend
- Sales per share showed a general upward trend from $16.64 in the first quarter of 2021 to a high of $64.4 in the fourth quarter of 2021, reflecting robust revenue growth. Following this peak, sales per share decreased gradually, stabilizing around the $45 to $50 range in the later quarters. Despite some fluctuations, sales per share maintained relatively strong levels through the end of the period.
- Price-to-Sales (P/S) Ratio Analysis
- The P/S ratio started at a high 3.35 in the first quarter of 2021 and experienced a downward trend through mid-2022, reaching a low of around 1.68. This decline suggests increasing sales relative to the share price or a correction in stock valuation. The ratio then fluctuated between approximately 1.56 and 2.59 in subsequent quarters, indicating moderate market valuation with some recovery periods but trending slightly downward toward the end of the analyzed period.
- Overall Insights
- The data presents a scenario where the company's sales grew substantially during 2021, which was followed by stabilization and modest declines in sales per share afterward. Share price responded positively to early strong sales growth but faced considerable corrections from late 2022 through 2025. Meanwhile, the P/S ratio reflected both the fluctuations in share price and revenue, signaling shifts in market sentiment and valuation. The general market perception appears cautious in the later periods, despite relatively stable sales per share figures.
Price to Book Value (P/BV)
ConocoPhillips, historical P/BV calculation (quarterly data)
| Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | |||||||||||||||||||||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||
| Common stockholders’ equity (in millions) | |||||||||||||||||||||||||
| Book value per share (BVPS)2 | |||||||||||||||||||||||||
| Share price1, 3 | |||||||||||||||||||||||||
| Valuation Ratio | |||||||||||||||||||||||||
| P/BV ratio4 | |||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||
| P/BV Ratio, Competitors5 | |||||||||||||||||||||||||
| Chevron Corp. | |||||||||||||||||||||||||
| Exxon Mobil Corp. | |||||||||||||||||||||||||
Based on: 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).
1 Data adjusted for splits and stock dividends.
2 Q3 2025 Calculation
BVPS = Common stockholders’ equity ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of ConocoPhillips Quarterly or Annual Report.
4 Q3 2025 Calculation
P/BV ratio = Share price ÷ BVPS
= ÷ =
5 Click competitor name to see calculations.
- Share Price Trends
- The share price exhibited notable fluctuations during the observed period. Starting at $55.7 in early 2021, it increased consistently, reaching a peak of $133.82 in the third quarter of 2022. Following this peak, there was a general declining trend with intermittent recoveries, resulting in a share price of $85.66 by the third quarter of 2025. The price demonstrated volatility, particularly during the latter half of 2022 and throughout 2023, with short-term highs in mid-2023 followed by decreases.
- Book Value Per Share (BVPS) Movements
- BVPS showed a steady and gradual increase over the entire period. Beginning at $31.98 in the first quarter of 2021, it rose consistently, reaching $52.54 by the third quarter of 2025. This reflects ongoing growth in the company’s net asset value per share, indicating a strengthening equity base without significant interruptions or declines.
- Price-to-Book Value (P/BV) Ratio Dynamics
- The P/BV ratio mirrored the share price fluctuations relative to the steadily rising book value. It started at 1.74 and rose to a peak of 3.4 in the third quarter of 2022, indicating that the market price was substantially above the book value during this period. Subsequent the peak, the P/BV ratio declined to 1.63 by the third quarter of 2025, suggesting a compression in market valuation relative to book value. Throughout the timeframe, the P/BV ratio reflects the market’s changing perception of the company’s equity value, correlating with the share price volatility against the backdrop of steady book value growth.
- Overall Insights
- The data depicts a company with a solid and consistently improving equity base as evidenced by the rising BVPS. However, market sentiment and valuation, reflected in the share price and P/BV ratio, have experienced significant fluctuations, including a notable premium over book value during late 2021 and most of 2022. The subsequent decline in the P/BV ratio and share price toward 2025 may indicate market recalibration or changing investor confidence. The trends suggest periods of both optimism and caution among investors while the fundamental equity strength steadily improved.