Financials ConocoPhillips

Equities

COP

US20825C1045

Oil & Gas Exploration and Production

Market Closed - Nyse Other stock markets 01:30:02 27/04/2024 am IST			5-day change	1st Jan Change
130.2 ^USD	+0.10%		+0.66%	+12.21%

26/04	S&P 500 Posts First Weekly Gain Since March as Tech, Consumer Discretionary Lead Rise on Better-Than-Expected Earnings	MT
24/04	New technology helps US shale oil industry start to rebuild well productivity	RE

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	71,355	42,708	95,202	1,47,036	1,37,822	1,52,524	-	-
Enterprise Value (EV) ¹	78,134	51,477	1,09,662	1,54,436	1,50,153	1,64,321	1,62,706	1,60,892
P/E ratio	10.2 x	-15.9 x	11.9 x	8.1 x	12.3 x	14.3 x	13.4 x	13.2 x
Yield	2.05%	4.23%	2.42%	1.6%	1.82%	1.92%	1.99%	2.58%
Capitalization / Revenue	1.95 x	2.22 x	1.97 x	1.79 x	2.35 x	2.51 x	2.42 x	2.46 x
EV / Revenue	2.13 x	2.67 x	2.27 x	1.88 x	2.56 x	2.71 x	2.59 x	2.59 x
EV / EBITDA	4.55 x	12.3 x	5.05 x	4.21 x	5.84 x	6.24 x	6.09 x	6.09 x
EV / FCF	17.5 x	592 x	10.5 x	8.51 x	17.2 x	16.4 x	15 x	14.1 x
FCF Yield	5.72%	0.17%	9.48%	11.8%	5.81%	6.08%	6.69%	7.07%
Price to Book	2.08 x	1.43 x	2.07 x	3.01 x	2.77 x	2.96 x	2.71 x	2.46 x
Nbr of stocks (in thousands)	10,97,269	10,67,957	13,18,947	12,46,071	11,87,408	11,71,101	-	-
Reference price ²	65.03	39.99	72.18	118.0	116.1	130.2	130.2	130.2
Announcement Date	04/02/20	02/02/21	03/02/22	02/02/23	08/02/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	36,670	19,256	48,349	82,156	58,574	60,680	62,929	62,071
EBITDA ¹	17,189	4,180	21,698	36,675	25,727	26,354	26,721	26,416
EBIT ¹	11,099	-1,341	14,490	29,171	17,457	17,109	18,577	17,526
Operating Margin	30.27%	-6.96%	29.97%	35.51%	29.8%	28.2%	29.52%	28.24%
Earnings before Tax (EBT) ¹	9,524	-3,140	12,712	28,228	16,288	16,910	18,099	18,263
Net income ¹	7,189	-2,701	8,079	18,680	10,957	10,873	11,558	11,293
Net margin	19.6%	-14.03%	16.71%	22.74%	18.71%	17.92%	18.37%	18.19%
EPS ²	6.400	-2.510	6.070	14.57	9.460	9.088	9.736	9.838
Free Cash Flow ¹	4,468	87	10,401	18,155	8,717	9,993	10,880	11,379
FCF margin	12.18%	0.45%	21.51%	22.1%	14.88%	16.47%	17.29%	18.33%
FCF Conversion (EBITDA)	25.99%	2.08%	47.94%	49.5%	33.88%	37.92%	40.72%	43.08%
FCF Conversion (Net income)	62.15%	-	128.74%	97.19%	79.56%	91.91%	94.14%	100.76%
Dividend per Share ²	1.335	1.690	1.750	1.890	2.110	2.498	2.596	3.359
Announcement Date	04/02/20	02/02/21	03/02/22	02/02/23	08/02/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1
Net sales ¹	11,616	15,963	19,291	21,989	21,614	19,262	15,517	12,884	14,866	15,307	15,007	15,202	15,239	15,473	15,715
EBITDA ¹	5,435	7,117	10,025	9,669	9,480	7,501	6,737	5,605	6,534	6,882	6,346	6,626	6,616	6,694	6,625
EBIT ¹	3,763	5,334	8,202	7,929	7,608	5,502	4,795	3,595	4,439	4,659	4,009	4,223	4,253	4,535	4,752
Operating Margin	32.39%	33.41%	42.52%	36.06%	35.2%	28.56%	30.9%	27.9%	29.86%	30.44%	26.71%	27.78%	27.91%	29.31%	30.24%
Earnings before Tax (EBT) ¹	3,582	4,336	7,898	7,655	7,440	5,235	4,562	3,362	4,100	4,264	3,941	4,103	4,132	4,281	4,734
Net income ¹	2,379	2,627	5,759	5,145	4,527	3,249	2,920	2,232	2,798	3,007	2,495	2,650	2,668	2,732	3,051
Net margin	20.48%	16.46%	29.85%	23.4%	20.94%	16.87%	18.82%	17.32%	18.82%	19.64%	16.63%	17.43%	17.51%	17.66%	19.41%
EPS ²	1.780	1.980	4.390	3.960	3.550	2.610	2.380	1.840	2.320	2.520	2.051	2.186	2.208	2.261	2.422
Dividend per Share ²	0.4300	0.4600	0.4600	0.4600	0.4600	0.5100	0.5100	0.5100	0.5800	0.5800	0.7034	0.7040	0.7051	0.7293	0.8310
Announcement Date	02/11/21	03/02/22	05/05/22	04/08/22	03/11/22	02/02/23	04/05/23	03/08/23	02/11/23	08/02/24	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	6,779	8,769	14,460	7,400	12,331	11,797	10,182	8,368
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	0.3944 x	2.098 x	0.6664 x	0.2018 x	0.4793 x	0.4476 x	0.381 x	0.3168 x
Free Cash Flow ¹	4,468	87	10,401	18,155	8,717	9,993	10,880	11,379
ROE (net income / shareholders' equity)	12.1%	-3.43%	21.3%	37.1%	21.8%	20.1%	19.6%	18.2%
ROA (Net income/ Total Assets)	5.75%	-1.56%	10.4%	18.8%	11.5%	10.6%	10.6%	9.5%
Assets ¹	1,25,126	1,72,875	77,396	99,373	94,876	1,02,337	1,09,206	1,18,877
Book Value Per Share ²	31.30	27.90	34.90	39.20	41.80	44.00	48.00	52.90
Cash Flow per Share ²	9.880	4.450	12.80	22.20	17.20	18.40	19.30	19.00
Capex ¹	6,636	4,715	5,324	10,159	11,248	11,244	11,307	11,219
Capex / Sales	18.1%	24.49%	11.01%	12.37%	19.2%	18.53%	17.97%	18.07%
Announcement Date	04/02/20	02/02/21	03/02/22	02/02/23	08/02/24	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for ConocoPhillips

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

130.2 USD

Average target price

142.3 USD

Spread / Average Target

+9.24%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Oil & Gas Exploration and Production

	1st Jan change	Capi.
CONOCOPHILLIPS	+12.21%	153B
CHEVRON CORPORATION	+11.22%	306B
CNOOC LIMITED	+51.38%	124B
CANADIAN NATURAL RESOURCES LIMITED	+22.70%	83.43B
EOG RESOURCES, INC.	+12.20%	78.06B
PIONEER NATURAL RESOURCES COMPANY	+19.56%	62.81B
OCCIDENTAL PETROLEUM CORPORATION	+13.52%	60.08B
HESS CORPORATION	+12.74%	49.91B
DIAMONDBACK ENERGY, INC.	+33.97%	37.05B
WOODSIDE ENERGY GROUP LTD	-9.01%	34.99B

Other Oil & Gas Exploration and Production