# ConocoPhillips (COP) — Stock CV

ConocoPhillips is a $162B energy company. Revenue grew 9.6% over the last year, it keeps 15¢ of every dollar of sales as profit, and its net debt equals ~1.6 years of free cash flow. It trades at 17.4× earnings — in the most expensive third of its own history.

> ConocoPhillips is a US-based independent exploration and production firm. Its operations are primarily in Alaska and the Lower 48, with footprints in Canada, Europe, Asia-Pacific, the Middle East, and Africa.

## Identity

- **Ticker**: COP
- **Sector**: Energy
- **Industry**: Petroleum Refining
- **Headquarters**: HOUSTON, TX
- **Employees**: 9 900
- **Website**: https://www.conocophillips.com
- **Market cap**: $162B
- **Last price**: $134.46
- **Financial profile**: Strained

## Vitals (TTM)

- **Revenue**: $63.3B
- **Net income**: $9.28B
- **Free cash flow**: $10.1B
- **Net debt**: $16.5B
- **P/E**: 17.4
- **Revenue growth (YoY)**: 9.6%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 65 |
| Growth | 37 |
| Profitability | 64 |
| Health | 30 |
| Quality | 46 |
| Moat | 63 |

## Qualifications (beginner checklist) — 8 of 11 passed

- [x] Revenue growing — +9.6% YoY
- [x] Profitable — $9.28B TTM
- [ ] Profit growing — -24.2% YoY
- [x] Generates cash — $10.1B TTM
- [x] Debt under control — ~1.6y of cash flow to repay
- [x] Established company — $162B market cap
- [ ] Not printing shares — +16.2% shares over ~5y
- [x] Proven track record — 7/10 profitable years
- [ ] Financially stable — health score 18/100
- [x] Pays a dividend — yield 2.53%
- [x] Valuation not extreme — P/E 17.4

## Experience (career milestones)

- **2024** — ConocoPhillips acquired Marathon Oil in a $22.5 billion transaction
- **2023** — Conoco purchased another 50% stake in the Surmont Canadian facility from TotalEnergies for $3 billion
- **2023** — Forbes Global 2000, ConocoPhillips was ranked as the 83rd-largest public company in the world
- **FY2022** — Revenue crossed $50B: $78.5B for the year
- **FY2022** — Best year on record: $18.7B net income
- **2022** — ConocoPhillips became one of the stakeholders in the joint venture with QatarEnergy for the North…
- **2021** — The company acquired Concho Resources, an operator in the Permian Basin, for $9.7 billion
- **FY2018** — Turned profitable: $6.26B net income after a loss year
- **FY2017** — Positive free cash flow every year since: 9-year streak
- **FY2016** — Revenue already above $10B: $24.4B in first reported year
- **Nov 26, 2012** — In its largest acquisition ever, ONGC Videsh agreed to buy ConocoPhillips' 8.4% stake in the…
- **2012** — ConocoPhillips completed the corporate spin-off of its downstream assets as Phillips 66
- **2006** — ConocoPhillips acquired Wilhelmshavener Raffineriegesellschaft mbH, based in Germany
- **1929** — Conoco merged with the Marland Oil Company
- **1899** — Marland Oil changed its name to Continental Oil Co

## Strengths

- High gross margin (46.3%)
- Strong cash conversion — FCF is 15.9% of revenue

## Watch-outs

- Thin interest coverage (-2.0×)
- Loss-making in 3 of the recent years

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $48.3B | $8.08B | $11.7B |
| FY2022 | $78.5B | $18.7B | $18.2B |
| FY2023 | $56.1B | $11.0B | $8.72B |
| FY2024 | $54.7B | $9.24B | $8.01B |
| FY2025 | $58.9B | $7.99B | $7.24B |

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Source: https://stockcv.com/COP — derived from company filings; may be delayed or incomplete. Information, not investment advice.