ConocoPhillips (COP)
The company now
ConocoPhillips is a commodity producer in petroleum refining The company reported six lines of business in fiscal 2025: Lower Forty Eight at 70%, Europe Middle East and North Africa at 11%, Alaska at 10%, Canada at 6%, Asia Pacific at 3%, and Corporate under 1% By geography, the United States accounts for 79% of revenue and International for 21% 3
From the record in brief, written by the desk, an AI model, from the company's record on Oct 22, 2026. Nothing here is advice.
Where the revenue comes from
fiscal 2025, as filedRevenue by line of business, fiscal 2025
| Line of business | Fiscal 2025 | Fiscal 2024 | Share of revenue |
|---|---|---|---|
| Lower Forty Eight | $41.40B | $37.03B | 70.2% |
| Europe Middle East and North Africa | $6.48B | $5.79B | 11.0% |
| Alaska | $5.64B | $6.55B | 9.6% |
| Canada | $3.63B | $3.51B | 6.1% |
| Asia Pacific | $1.77B | $1.85B | 3.0% |
| Corporate | $32.0M | $17.0M | under 1% |
Revenue by region, fiscal 2025
| Region | Fiscal 2025 | Fiscal 2024 | Share of revenue |
|---|---|---|---|
| United States | $46.61B | $43.48B | 79.1% |
| International | $12.33B | $11.27B | 20.9% |
As tagged in its annual report (Form 10-K, filed Feb 17, 2026 ↗), read from the SEC's financial statement data sets. The year before is the figure the record holds for the prior fiscal year.
The desk's written account of this company, its Past, Present and Future, is not on file yet.
How the company works
The desk has not read this company's annual report yet.
The record in brief
five sections from the recordBy the desk, an AI model (Claude Haiku 4.5), written from the company's record on Oct 22, 2026; nothing here is advice. Every sentence rests on the numbered source beside it, and a sentence the record did not support was cut before the report was kept.
A newer quarterly report (Form 10-Q, filed 2026-11-05) and current report (Form 8-K, filed 2026-11-05) is on file; this report was written before it, and the desk writes it again on request.
Past
ConocoPhillips' revenue grew from $24 billion in fiscal 2016 to $59 billion in fiscal 2025, rising at 10.3% a year, and climbed in 5 of 9 years with a deepest fall of 51% from fiscal 2018 to fiscal 2020 Net income was positive in 7 of 10 filed years Over the three fiscal years to 2025, the diluted share count shrank about 0.6% a year Dividends declared per share moved from $1.34 in fiscal 2019 to $3.18 in fiscal 2025 Dividends and buybacks returned about 49% of operating cash flow over those three years 12
The filing record from 2017 onward shows no warning events: no bankruptcy or receivership notice, no debt default notice, no exchange listing notice, no restatement warning, no auditor change, no material cyber incident and no late-report notice 1
Present
For the fiscal year ended 2025-12-31, ConocoPhillips reported revenue of $59 billion and a profit of $8.0 billion Return on equity in that year was 12 cents of profit for every dollar of shareholders' money, and gross profitability was 30 cents earned per dollar of everything the company owns The company owed about 47 cents per dollar of assets, and its share count grew 6.1% over the year Shareholders' equity on the books stands at $64.49 billion as of 2025-12-31 314
ConocoPhillips' revenue of $59 billion in fiscal 2025 ranks in the top 43% by size among 17 graded names in its industry family, with a net margin of 13.6% in the top 3% The chief executive is Lance Ryan Michael, filing as Chairman and CEO since 2013-01-11 for 13.8 years; the 23 officers and directors filing in the last fifteen months have been on record a median of 6.2 years 1
Future
The quarterly report (Form 10-Q) for the quarter ending 2026-09-30 is due by 2026-11-09 The annual report (Form 10-K) for the fiscal year ending 2026-12-31 is due by 2027-03-01 5
Cash of $6.5 billion against debt of $22 billion leaves negative 13.1% of assets as net cash at the top 50% of its family; cash from operations less capital spending is 33.6% of revenue at the top 3%; gross margin is 62.1% at the top 4% Revenue grew negative 9.1% a year over the last three filed years against 10.3% over all 10, and the newest year grew 7.7% Revenue of $59 billion in fiscal 2025 came in 28.9% above the $46 billion its prior three years' pace pointed to 1
How the company operates
ConocoPhillips is a commodity producer in petroleum refining The company reported six lines of business in fiscal 2025: Lower Forty Eight at 70%, Europe Middle East and North Africa at 11%, Alaska at 10%, Canada at 6%, Asia Pacific at 3%, and Corporate under 1% By geography, the United States accounts for 79% of revenue and International for 21% 3
Lower Forty Eight generated $41 billion (70%), Europe Middle East and North Africa $6.5 billion (11%), and Alaska $5.6 billion (10%) Four of six lines of business grew against the year before 1
New moves
On 2026-09-11, ConocoPhillips filed Form SD, a supply-chain minerals report On 2026-08-11, an officer or director change was reported on Form 8-K On 2026-08-06, the quarterly report for the period ended 2026-06-30 was filed, showing the quarterly money story and trend 5
On 2026-09-27, Trump rejected Iran's seven-day plan to reopen the Hormuz strait; U. S. officials counted nearly 40 million barrels through the strait in 48 hours, and WTI fell 7.87 percent on the week while Brent held above 100 dollars , a story adjacent to the company. On 2026-09-24, Reuters reported the East-West pipeline restarted on 2026-09-22 at a low rate with six to eight weeks to full capacity, and the IEA counted Gulf exports at half their pre-war level , adjacent to the company. On 2026-09-17, a week after drones stopped the East-West line, Reuters and Bloomberg report Aramco running crude through Hormuz to ship-to-ship transfers, about 20 million barrels sold to Asian refiners 6
Sources
a number beside a sentence opens its entry in its own document's listThe record in brief 6 sources · written Oct 22, 2026
- COP: the nine metricsthis site's record
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Track record (past, graded 4.9 of 10, weighs 33% of the past): ConocoPhillips' 10 filed years say what it did: revenue went from $24 billion in fiscal 2016 to $59 billion in fiscal 2025, up 10.3% a year; it rose in 5 of 9 years; the deepest fall was 51% from fiscal 2018 to fiscal 2020; net income was positive in 7 of 10 of those years (its annual reports).
Shareholder treatment (past, graded 3.9 of 10, weighs 22% of the past): Over the 3 fiscal years to 2025-12-31, ConocoPhillips' diluted share count shrank about 0.6% a year, and dividends and buybacks returned about 49% of its operating cash flow over 3 years (its filed statements).
Surviving crises (past, graded 6.7 of 10, weighs 45% of the past): ConocoPhillips' filings since 2017 show no warning events in the scan: no bankruptcy or receivership notice, no debt default notice, no exchange listing notice, no restatement warning, no auditor change, no material cyber incident and no late-report notice (its current reports). Finding: No warning events in its filings since 2017.
Financial health (present, graded 5.9 of 10, weighs 45% of the present): Return on equity: in the fiscal year ended 2025-12-31, ConocoPhillips earned about 12 cents of profit for every dollar of shareholders' money, and gross profitability: its products earned about 30 cents per dollar of everything the company owns (revenue less the cost of revenue).
Leverage: it owed about 47 cents per dollar of assets, and net share issuance: its share count grew 6.1% over the year (the filed statements).
Industry position (present, graded 6.6 of 10, weighs 33% of the present): ConocoPhillips' standing among 17 graded names in its industry family: revenue of $59 billion in fiscal 2025 ranks in the top 43% by size; a net margin of 13.6% ranks in the top 3%; revenue growth of -9.1% a year over the last 3 filed years ranks in the bottom 44% (its annual reports).
Leadership (present, graded 7.4 of 10, weighs 22% of the present): ConocoPhillips' leadership, from its insiders' filings and its current reports: the chief executive on the record is Lance, Ryan Michael (Chairman and CEO, as filed), filing under that title since 2013-01-11, 13.8 years (top 5% of its family); the 23 officers and directors filing in the last fifteen months have been on the record a
Room to expand (future, graded 6.6 of 10, weighs 22% of the future): ConocoPhillips' room to grow, from the newest filed statements (fiscal 2025): cash of $6.5 billion against debt of $22 billion leaves -13.1% of its assets as net cash, top 50% of its family; cash from operations less capital spending is 33.6% of revenue (top 3%); a gross margin of 62.1% (top 4%); research spending of 0.1% of reve
Growth drivers (future, graded 5.9 of 10, weighs 33% of the future): ConocoPhillips' growth drivers, from the filed years to fiscal 2025: revenue grew -9.1% a year over the last three filed years against 10.3% over all 10, slowing (bottom 21% of its family); the newest year grew 7.7% (top 15%); research spending grew 3.2% a year (top 50%); capital spending grew 15.2% a year (top 21%) (its annual r
Expectations vs reality (future, graded 5.7 of 10, weighs 45% of the future): ConocoPhillips' newest year against its own record: revenue of $59 billion in fiscal 2025 came in 28.9% above the $46 billion its prior three years' pace pointed to (top 3% of its family); net income of $8.0 billion against a prior three-year average of $13 billion (top 41%); a net margin of 13.6% against 20.1% before (b
ConocoPhillips reported 6 lines of business in fiscal 2025: Lower Forty Eight at $41 billion (70%), Europe Middle East and North Africa at $6.5 billion (11%), Alaska at $5.6 billion (10%), and 3 more; 4 of 6 grew against the year before (its annual report).
- COP: the statements' history (names, splits, dividends per share)a filing
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Dividends declared per share (USD per share, what it declared for each share in the period), by fiscal year: FY2025 3.18; FY2024 2.52; FY2023 2.11; FY2022 1.89; FY2021 1.75; FY2020 1.69; FY2019 1.34.
- COP: the company filethis site's record
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In its latest annual figures on file, for the fiscal year ended 2025-12-31, it reported revenue of $59 billion and a profit of $8.0 billion (its filed statements).
Commodity producer (prior from its industry code (SEC 2911, Petroleum Refining); the filing read can change it).
Where the revenue comes from, fiscal 2025, as tagged in its annual report (Form 10-K, filed 2026-02-17): lines of business: Lower Forty Eight 70%, Europe Middle East and North Africa 11%, Alaska 10%, Canada 6%, Asia Pacific 3%, Corporate under 1%; by geography: United States 79%, International 21%.
- COP: net worth, from the balance sheeta filing
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Shareholders' equity, or book value, the net worth on its own books: $64.49 billion as of 2025-12-31, what it owns minus what it owes (the filed figure, us-gaap:StockholdersEquity, Form 10-K filed 2026-02-17).
- COP: the filing record, ten yearsa filing
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Deadline ahead: Quarterly report (Form 10-Q) for the quarter ending 2026-09-30 is due by 2026-11-09; large accelerated filers have 40 days after the quarter ends; quarter ends are taken to the month end.
Deadline ahead: Annual report (Form 10-K) for the fiscal year ending 2026-12-31 is due by 2027-03-01; large accelerated filers have 60 days after the fiscal year ends.
2026-09-11: Form SD, Conflict minerals report. Nothing graded: the supply-chain minerals report.
Document: https://www.sec.gov/Archives/edgar/data/1163165/000116316526000037 2026-08-11: Form 8-K, Current report (Officer or director change, item 5.02), for the period ended 2026-08-06. Leadership: the officer or director change count.
Document: https://www.sec.gov/Archives/edgar/data/1163165/000110465926094062 2026-08-06: Form 10-Q, Quarterly report, for the period ended 2026-06-30. The quarterly money story and the trend by quarter; Financial health reads the newest balance sheet.
- COP: the stories that name itthis site's record
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2026-09-27: "Trump rejects Iran's seven-day plan to reopen Hormuz": Iran's foreign minister told NBC on Sunday that the strait opens when frozen assets are released, oil sanctions lifted and the blockade ended; Trump told Axios he expects more talks this week and called the offer one he might have taken a year ago; U.S. officials counted nearly 40 million barrels through the strait in 48 hours, an
(a story by the desk; the company is adjacent to the event; /n/trump-rejects-iran-seven-day-hormuz-plan-iran-says-conditions-stand/) 2026-09-24: "Missiles over Yanbu as Riyadh sells Asia 100 million barrels": What changed since 16 September: the East-West pipeline restarted on 22 September at a low rate with six to eight weeks to a full one; Iran offered to reopen the strait within seven days if t
(a story by the desk; the company is adjacent to the event; /n/saudi-pipeline-restarts-iran-offers-hormuz-in-seven-days-trump-un-deal/) 2026-09-17: "Pipeline down, Saudi Arabia doubles its Gulf loadings": A week after drones stopped the East-West line, Reuters and Bloomberg report Aramco running crude through Hormuz to ship-to-ship transfers off Sohar, about 20 million barrels sold to Asian refine