Stock Analysis on Net
Stock Analysis on Net

ConocoPhillips (NYSE:COP)

Adjusted Financial Ratios

Microsoft Excel

Adjusted Financial Ratios (Summary)

ConocoPhillips, adjusted financial ratios

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Activity Ratio
Total Asset Turnover
Reported 0.59 0.84 0.51 0.30 0.46
Adjusted 0.59 0.84 0.51 0.30 0.46
Liquidity Ratio
Current Ratio
Reported 1.43 1.46 1.34 2.25 2.40
Adjusted 1.44 1.47 1.36 2.27 2.43
Solvency Ratios
Debt to Equity
Reported 0.38 0.35 0.44 0.51 0.43
Adjusted 0.34 0.31 0.40 0.48 0.40
Debt to Capital
Reported 0.28 0.26 0.31 0.34 0.30
Adjusted 0.25 0.24 0.29 0.33 0.29
Financial Leverage
Reported 1.95 1.95 2.00 2.10 2.02
Adjusted 1.65 1.68 1.76 1.87 1.78
Profitability Ratios
Net Profit Margin
Reported 19.52% 23.80% 17.63% -14.38% 22.07%
Adjusted 22.04% 24.99% 21.50% -18.37% 23.34%
Return on Equity (ROE)
Reported 22.23% 38.91% 17.79% -9.05% 20.55%
Adjusted 21.35% 35.25% 19.14% -10.35% 19.15%
Return on Assets (ROA)
Reported 11.42% 19.91% 8.91% -4.31% 10.20%
Adjusted 12.92% 20.92% 10.88% -5.53% 10.78%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Financial ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. ConocoPhillips adjusted total asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.
Adjusted current ratio A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. ConocoPhillips adjusted current ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.
Adjusted debt-to-equity ratio A solvency ratio calculated as adjusted total debt divided by adjusted total equity. ConocoPhillips adjusted debt-to-equity ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.
Adjusted debt-to-capital ratio A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. ConocoPhillips adjusted debt-to-capital ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.		 ConocoPhillips adjusted financial leverage ratio decreased from 2021 to 2022 and from 2022 to 2023.
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. ConocoPhillips adjusted net profit margin ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted total equity. ConocoPhillips adjusted ROE improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. ConocoPhillips adjusted ROA improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.

ConocoPhillips, Financial Ratios: Reported vs. Adjusted

Adjusted Total Asset Turnover

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Reported
Selected Financial Data (US$ in millions)
Sales and other operating revenues 56,141 78,494 45,828 18,784 32,567
Total assets 95,924 93,829 90,661 62,618 70,514
Activity Ratio
Total asset turnover1 0.59 0.84 0.51 0.30 0.46
Adjusted
Selected Financial Data (US$ in millions)
Sales and other operating revenues 56,141 78,494 45,828 18,784 32,567
Adjusted total assets2 95,763 93,739 90,574 62,346 70,498
Activity Ratio
Adjusted total asset turnover3 0.59 0.84 0.51 0.30 0.46

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Total asset turnover = Sales and other operating revenues ÷ Total assets
= 56,141 ÷ 95,924 = 0.59

2 Adjusted total assets. See details »

3 2023 Calculation
Adjusted total asset turnover = Sales and other operating revenues ÷ Adjusted total assets
= 56,141 ÷ 95,763 = 0.59

Activity ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. ConocoPhillips adjusted total asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.

Adjusted Current Ratio

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Reported
Selected Financial Data (US$ in millions)
Current assets 14,330 18,749 16,050 12,066 16,913
Current liabilities 10,005 12,847 12,021 5,366 7,043
Liquidity Ratio
Current ratio1 1.43 1.46 1.34 2.25 2.40
Adjusted
Selected Financial Data (US$ in millions)
Adjusted current assets2 14,424 18,900 16,303 12,157 17,081
Current liabilities 10,005 12,847 12,021 5,366 7,043
Liquidity Ratio
Adjusted current ratio3 1.44 1.47 1.36 2.27 2.43

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Current ratio = Current assets ÷ Current liabilities
= 14,330 ÷ 10,005 = 1.43

2 Adjusted current assets. See details »

3 2023 Calculation
Adjusted current ratio = Adjusted current assets ÷ Current liabilities
= 14,424 ÷ 10,005 = 1.44

Liquidity ratio Description The company
Adjusted current ratio A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. ConocoPhillips adjusted current ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.

Adjusted Debt to Equity

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Reported
Selected Financial Data (US$ in millions)
Total debt 18,937 16,643 19,934 15,369 14,895
Common stockholders’ equity 49,279 48,003 45,406 29,849 34,981
Solvency Ratio
Debt to equity1 0.38 0.35 0.44 0.51 0.43
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt2 19,634 17,188 20,601 16,154 15,827
Adjusted total equity3 57,931 55,639 51,498 33,324 39,691
Solvency Ratio
Adjusted debt to equity4 0.34 0.31 0.40 0.48 0.40

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Debt to equity = Total debt ÷ Common stockholders’ equity
= 18,937 ÷ 49,279 = 0.38

2 Adjusted total debt. See details »

3 Adjusted total equity. See details »

4 2023 Calculation
Adjusted debt to equity = Adjusted total debt ÷ Adjusted total equity
= 19,634 ÷ 57,931 = 0.34

Solvency ratio Description The company
Adjusted debt-to-equity ratio A solvency ratio calculated as adjusted total debt divided by adjusted total equity. ConocoPhillips adjusted debt-to-equity ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.

Adjusted Debt to Capital

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Reported
Selected Financial Data (US$ in millions)
Total debt 18,937 16,643 19,934 15,369 14,895
Total capital 68,216 64,646 65,340 45,218 49,876
Solvency Ratio
Debt to capital1 0.28 0.26 0.31 0.34 0.30
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt2 19,634 17,188 20,601 16,154 15,827
Adjusted total capital3 77,565 72,827 72,099 49,478 55,518
Solvency Ratio
Adjusted debt to capital4 0.25 0.24 0.29 0.33 0.29

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Debt to capital = Total debt ÷ Total capital
= 18,937 ÷ 68,216 = 0.28

2 Adjusted total debt. See details »

3 Adjusted total capital. See details »

4 2023 Calculation
Adjusted debt to capital = Adjusted total debt ÷ Adjusted total capital
= 19,634 ÷ 77,565 = 0.25

Solvency ratio Description The company
Adjusted debt-to-capital ratio A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. ConocoPhillips adjusted debt-to-capital ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.

Adjusted Financial Leverage

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Reported
Selected Financial Data (US$ in millions)
Total assets 95,924 93,829 90,661 62,618 70,514
Common stockholders’ equity 49,279 48,003 45,406 29,849 34,981
Solvency Ratio
Financial leverage1 1.95 1.95 2.00 2.10 2.02
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total assets2 95,763 93,739 90,574 62,346 70,498
Adjusted total equity3 57,931 55,639 51,498 33,324 39,691
Solvency Ratio
Adjusted financial leverage4 1.65 1.68 1.76 1.87 1.78

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Financial leverage = Total assets ÷ Common stockholders’ equity
= 95,924 ÷ 49,279 = 1.95

2 Adjusted total assets. See details »

3 Adjusted total equity. See details »

4 2023 Calculation
Adjusted financial leverage = Adjusted total assets ÷ Adjusted total equity
= 95,763 ÷ 57,931 = 1.65

Solvency ratio Description The company
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.		 ConocoPhillips adjusted financial leverage ratio decreased from 2021 to 2022 and from 2022 to 2023.

Adjusted Net Profit Margin

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Reported
Selected Financial Data (US$ in millions)
Net income (loss) attributable to ConocoPhillips 10,957 18,680 8,079 (2,701) 7,189
Sales and other operating revenues 56,141 78,494 45,828 18,784 32,567
Profitability Ratio
Net profit margin1 19.52% 23.80% 17.63% -14.38% 22.07%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income (loss)2 12,371 19,614 9,855 (3,450) 7,602
Sales and other operating revenues 56,141 78,494 45,828 18,784 32,567
Profitability Ratio
Adjusted net profit margin3 22.04% 24.99% 21.50% -18.37% 23.34%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Net profit margin = 100 × Net income (loss) attributable to ConocoPhillips ÷ Sales and other operating revenues
= 100 × 10,957 ÷ 56,141 = 19.52%

2 Adjusted net income (loss). See details »

3 2023 Calculation
Adjusted net profit margin = 100 × Adjusted net income (loss) ÷ Sales and other operating revenues
= 100 × 12,371 ÷ 56,141 = 22.04%

Profitability ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. ConocoPhillips adjusted net profit margin ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.

Adjusted Return on Equity (ROE)

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Reported
Selected Financial Data (US$ in millions)
Net income (loss) attributable to ConocoPhillips 10,957 18,680 8,079 (2,701) 7,189
Common stockholders’ equity 49,279 48,003 45,406 29,849 34,981
Profitability Ratio
ROE1 22.23% 38.91% 17.79% -9.05% 20.55%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income (loss)2 12,371 19,614 9,855 (3,450) 7,602
Adjusted total equity3 57,931 55,639 51,498 33,324 39,691
Profitability Ratio
Adjusted ROE4 21.35% 35.25% 19.14% -10.35% 19.15%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
ROE = 100 × Net income (loss) attributable to ConocoPhillips ÷ Common stockholders’ equity
= 100 × 10,957 ÷ 49,279 = 22.23%

2 Adjusted net income (loss). See details »

3 Adjusted total equity. See details »

4 2023 Calculation
Adjusted ROE = 100 × Adjusted net income (loss) ÷ Adjusted total equity
= 100 × 12,371 ÷ 57,931 = 21.35%

Profitability ratio Description The company
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted total equity. ConocoPhillips adjusted ROE improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.

Adjusted Return on Assets (ROA)

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Reported
Selected Financial Data (US$ in millions)
Net income (loss) attributable to ConocoPhillips 10,957 18,680 8,079 (2,701) 7,189
Total assets 95,924 93,829 90,661 62,618 70,514
Profitability Ratio
ROA1 11.42% 19.91% 8.91% -4.31% 10.20%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income (loss)2 12,371 19,614 9,855 (3,450) 7,602
Adjusted total assets3 95,763 93,739 90,574 62,346 70,498
Profitability Ratio
Adjusted ROA4 12.92% 20.92% 10.88% -5.53% 10.78%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
ROA = 100 × Net income (loss) attributable to ConocoPhillips ÷ Total assets
= 100 × 10,957 ÷ 95,924 = 11.42%

2 Adjusted net income (loss). See details »

3 Adjusted total assets. See details »

4 2023 Calculation
Adjusted ROA = 100 × Adjusted net income (loss) ÷ Adjusted total assets
= 100 × 12,371 ÷ 95,763 = 12.92%

Profitability ratio Description The company
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. ConocoPhillips adjusted ROA improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.