Common-Size Income Statement
Quarterly Data
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ConocoPhillips pages available for free this week:
- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Liquidity Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Price to FCFE (P/FCFE)
- Return on Equity (ROE) since 2005
- Debt to Equity since 2005
- Analysis of Debt
- Aggregate Accruals
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ConocoPhillips, common-size consolidated income statement (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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
- Overall Revenue and Income Trends
- The revenue and related income metrics show considerable volatility in early 2020, with a major recovery beginning in 2021. "Revenues and other income" as a percent of sales stabilized in the range of approximately 103% to 108% from 2021 onwards, indicating a relative steadiness despite fluctuations in other components. Operating and net income margins showed significant recovery after sharp declines in early 2020, reaching peaks in the first quarter of 2022 before moderately declining but maintaining positive and strong profitability through to late 2025.
- Equity in Earnings of Affiliates
- Equity earnings moved from a steep drop in 2020 to a general upward trend from 2021 to 2025, peaking near 3.38% of sales in early 2024. This suggests increasing contributions from affiliated entities to the overall earnings base.
- Gains and Other Income Components
- Gains on dispositions exhibited marked variability, with exceptional spikes such as over 21% in mid-2020, followed by smaller fluctuating gains and occasional losses. Meanwhile, other income/loss showed extreme volatility in early 2020, recovering thereafter to a modest positive contribution consistently around 0.7%-1% of sales from 2022 through 2025, representing a more stable ancillary income stream.
- Cost of Goods and Operating Expenses
- Purchased commodities as a percentage of sales showed a notable decrease in mid-2021 to 2022, improving from negative mid-40% to closer to -35% to -38%, indicating better cost management or changes in input pricing. Production and operating expenses followed a persistent decline from steep negative values in 2020 to more modest negative contributions around -8.9% to -17.5% by 2025, reflecting improved operational efficiencies.
- Selling, General and Administrative (SG&A) Expenses
- SG&A expenses fluctuated with a generally modest negative impact between -0.5% and -1.8% for most periods, except an anomalous rise to -4.43% in mid-2024, which suggests a temporary increase in administrative costs or other related expenses during that quarter.
- Exploration and Depreciation
- Exploration expenses maintained modest negative impacts, mostly below -1%, without major trend shifts. Depreciation, depletion, and amortization steadily declined from very high negative values in early 2020 (around -42%) to lower but stable negative contributions in the range of -8.5% to -20% by 2025, indicating asset base changes or adjustments in depreciation policies.
- Impairments
- Impairments generally remained minimal, mostly near zero with occasional small negative adjustments, indicating low levels of asset write-downs after the disruptions in 2020.
- Taxation and Other Expenses
- Taxes other than income taxes fluctuated between -3% and -5%, showing no clear upward or downward trend. Income tax provisions reflected a shift from benefits and credits in early 2020 to consistent negative impact from 2021 onward, stabilizing near -9% of sales. Other miscellaneous expenses were mostly minor and variable, with one significant negative spike at -1.33% in early 2025.
- Financial Costs and Currency Effects
- Interest and debt expenses displayed a declining trend from about -7.35% in mid-2020 to around -1.2% to -1.6% by 2025, signifying reduced debt costs or deleveraging. Foreign currency transaction gains and losses were relatively minor and fluctuated around zero without a persistent bias, indicating minimal currency impact on overall financials.
- Profitability Metrics
- Operating income surged from significantly negative values in early 2020 to strong positive margins peaking above 45% in early 2022, followed by a moderate decline but remaining robust above 20% through 2025. Net income exhibited a similar pattern, shifting from substantial losses in 2020 to strong positive gains approaching 32% in 2022, then settling in the range of approximately 11% to 20% from 2023 onward. This overall improvement reflects effective recovery and profitability management following initial disruptions.