Stock Analysis on Net

ConocoPhillips (NYSE:COP)

Analysis of Solvency Ratios

Microsoft Excel

Solvency Ratios (Summary)

ConocoPhillips, solvency ratios

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Debt Ratios
Debt to equity 0.38 0.38 0.35 0.44 0.51
Debt to equity (including operating lease liability) 0.39 0.40 0.36 0.45 0.54
Debt to capital 0.27 0.28 0.26 0.31 0.34
Debt to capital (including operating lease liability) 0.28 0.28 0.26 0.31 0.35
Debt to assets 0.20 0.20 0.18 0.22 0.25
Debt to assets (including operating lease liability) 0.21 0.20 0.18 0.23 0.26
Financial leverage 1.89 1.95 1.95 2.00 2.10
Coverage Ratios
Interest coverage 18.46 21.88 36.07 15.38 -2.90
Fixed charge coverage 13.34 17.14 28.76 11.94 -1.79

Based on: 10-K (reporting date: 2024-12-31), 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).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. ConocoPhillips debt to equity ratio deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024.
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. ConocoPhillips debt to equity ratio (including operating lease liability) deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. ConocoPhillips debt to capital ratio deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024.
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. ConocoPhillips debt to capital ratio (including operating lease liability) deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. ConocoPhillips debt to assets ratio deteriorated from 2022 to 2023 and from 2023 to 2024.
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. ConocoPhillips debt to assets ratio (including operating lease liability) deteriorated from 2022 to 2023 and from 2023 to 2024.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. ConocoPhillips financial leverage ratio decreased from 2022 to 2023 and from 2023 to 2024.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. ConocoPhillips interest coverage ratio deteriorated from 2022 to 2023 and from 2023 to 2024.
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. ConocoPhillips fixed charge coverage ratio deteriorated from 2022 to 2023 and from 2023 to 2024.

Debt to Equity

ConocoPhillips, debt to equity calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Short-term debt 1,035 1,074 417 1,200 619
Long-term debt 23,289 17,863 16,226 18,734 14,750
Total debt 24,324 18,937 16,643 19,934 15,369
 
Common stockholders’ equity 64,796 49,279 48,003 45,406 29,849
Solvency Ratio
Debt to equity1 0.38 0.38 0.35 0.44 0.51
Benchmarks
Debt to Equity, Competitors2
Chevron Corp. 0.16 0.13 0.15 0.23 0.34
Exxon Mobil Corp. 0.16 0.20 0.21 0.28 0.43
Occidental Petroleum Corp. 0.76 0.65 0.66 1.46 1.95
Debt to Equity, Sector
Oil, Gas & Consumable Fuels 0.23 0.23 0.23 0.34 0.48
Debt to Equity, Industry
Energy 0.24 0.24 0.25 0.37 0.52

Based on: 10-K (reporting date: 2024-12-31), 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).

1 2024 Calculation
Debt to equity = Total debt ÷ Common stockholders’ equity
= 24,324 ÷ 64,796 = 0.38

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. ConocoPhillips debt to equity ratio deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024.

Debt to Equity (including Operating Lease Liability)

ConocoPhillips, debt to equity (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Short-term debt 1,035 1,074 417 1,200 619
Long-term debt 23,289 17,863 16,226 18,734 14,750
Total debt 24,324 18,937 16,643 19,934 15,369
Current lease liabilities, operating leases (included in Other accruals) 329 193 155 188 226
Long-term lease liabilities, operating leases (included in Other liabilities and deferred credits) 695 504 390 479 559
Total debt (including operating lease liability) 25,348 19,634 17,188 20,601 16,154
 
Common stockholders’ equity 64,796 49,279 48,003 45,406 29,849
Solvency Ratio
Debt to equity (including operating lease liability)1 0.39 0.40 0.36 0.45 0.54
Benchmarks
Debt to Equity (including Operating Lease Liability), Competitors2
Chevron Corp. 0.19 0.16 0.17 0.25 0.37
Exxon Mobil Corp. 0.18 0.23 0.24 0.31 0.46
Occidental Petroleum Corp. 0.79 0.69 0.69 1.49 2.01
Debt to Equity (including Operating Lease Liability), Sector
Oil, Gas & Consumable Fuels 0.25 0.26 0.26 0.37 0.52
Debt to Equity (including Operating Lease Liability), Industry
Energy 0.27 0.27 0.28 0.40 0.55

Based on: 10-K (reporting date: 2024-12-31), 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).

1 2024 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Common stockholders’ equity
= 25,348 ÷ 64,796 = 0.39

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. ConocoPhillips debt to equity ratio (including operating lease liability) deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024.

Debt to Capital

ConocoPhillips, debt to capital calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Short-term debt 1,035 1,074 417 1,200 619
Long-term debt 23,289 17,863 16,226 18,734 14,750
Total debt 24,324 18,937 16,643 19,934 15,369
Common stockholders’ equity 64,796 49,279 48,003 45,406 29,849
Total capital 89,120 68,216 64,646 65,340 45,218
Solvency Ratio
Debt to capital1 0.27 0.28 0.26 0.31 0.34
Benchmarks
Debt to Capital, Competitors2
Chevron Corp. 0.14 0.11 0.13 0.18 0.25
Exxon Mobil Corp. 0.14 0.17 0.17 0.22 0.30
Occidental Petroleum Corp. 0.43 0.39 0.40 0.59 0.66
Debt to Capital, Sector
Oil, Gas & Consumable Fuels 0.18 0.19 0.19 0.26 0.33
Debt to Capital, Industry
Energy 0.19 0.20 0.20 0.27 0.34

Based on: 10-K (reporting date: 2024-12-31), 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).

1 2024 Calculation
Debt to capital = Total debt ÷ Total capital
= 24,324 ÷ 89,120 = 0.27

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. ConocoPhillips debt to capital ratio deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024.

Debt to Capital (including Operating Lease Liability)

ConocoPhillips, debt to capital (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Short-term debt 1,035 1,074 417 1,200 619
Long-term debt 23,289 17,863 16,226 18,734 14,750
Total debt 24,324 18,937 16,643 19,934 15,369
Current lease liabilities, operating leases (included in Other accruals) 329 193 155 188 226
Long-term lease liabilities, operating leases (included in Other liabilities and deferred credits) 695 504 390 479 559
Total debt (including operating lease liability) 25,348 19,634 17,188 20,601 16,154
Common stockholders’ equity 64,796 49,279 48,003 45,406 29,849
Total capital (including operating lease liability) 90,144 68,913 65,191 66,007 46,003
Solvency Ratio
Debt to capital (including operating lease liability)1 0.28 0.28 0.26 0.31 0.35
Benchmarks
Debt to Capital (including Operating Lease Liability), Competitors2
Chevron Corp. 0.16 0.14 0.15 0.20 0.27
Exxon Mobil Corp. 0.15 0.19 0.19 0.24 0.32
Occidental Petroleum Corp. 0.44 0.41 0.41 0.60 0.67
Debt to Capital (including Operating Lease Liability), Sector
Oil, Gas & Consumable Fuels 0.20 0.20 0.21 0.27 0.34
Debt to Capital (including Operating Lease Liability), Industry
Energy 0.21 0.21 0.22 0.28 0.36

Based on: 10-K (reporting date: 2024-12-31), 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).

1 2024 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 25,348 ÷ 90,144 = 0.28

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. ConocoPhillips debt to capital ratio (including operating lease liability) deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024.

Debt to Assets

ConocoPhillips, debt to assets calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Short-term debt 1,035 1,074 417 1,200 619
Long-term debt 23,289 17,863 16,226 18,734 14,750
Total debt 24,324 18,937 16,643 19,934 15,369
 
Total assets 122,780 95,924 93,829 90,661 62,618
Solvency Ratio
Debt to assets1 0.20 0.20 0.18 0.22 0.25
Benchmarks
Debt to Assets, Competitors2
Chevron Corp. 0.10 0.08 0.09 0.13 0.18
Exxon Mobil Corp. 0.09 0.11 0.11 0.14 0.20
Occidental Petroleum Corp. 0.31 0.27 0.27 0.39 0.45
Debt to Assets, Sector
Oil, Gas & Consumable Fuels 0.13 0.13 0.13 0.17 0.23
Debt to Assets, Industry
Energy 0.13 0.13 0.14 0.18 0.24

Based on: 10-K (reporting date: 2024-12-31), 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).

1 2024 Calculation
Debt to assets = Total debt ÷ Total assets
= 24,324 ÷ 122,780 = 0.20

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. ConocoPhillips debt to assets ratio deteriorated from 2022 to 2023 and from 2023 to 2024.

Debt to Assets (including Operating Lease Liability)

ConocoPhillips, debt to assets (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Short-term debt 1,035 1,074 417 1,200 619
Long-term debt 23,289 17,863 16,226 18,734 14,750
Total debt 24,324 18,937 16,643 19,934 15,369
Current lease liabilities, operating leases (included in Other accruals) 329 193 155 188 226
Long-term lease liabilities, operating leases (included in Other liabilities and deferred credits) 695 504 390 479 559
Total debt (including operating lease liability) 25,348 19,634 17,188 20,601 16,154
 
Total assets 122,780 95,924 93,829 90,661 62,618
Solvency Ratio
Debt to assets (including operating lease liability)1 0.21 0.20 0.18 0.23 0.26
Benchmarks
Debt to Assets (including Operating Lease Liability), Competitors2
Chevron Corp. 0.12 0.10 0.11 0.15 0.20
Exxon Mobil Corp. 0.11 0.13 0.13 0.16 0.22
Occidental Petroleum Corp. 0.32 0.28 0.29 0.40 0.47
Debt to Assets (including Operating Lease Liability), Sector
Oil, Gas & Consumable Fuels 0.14 0.14 0.14 0.19 0.24
Debt to Assets (including Operating Lease Liability), Industry
Energy 0.15 0.15 0.15 0.20 0.25

Based on: 10-K (reporting date: 2024-12-31), 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).

1 2024 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 25,348 ÷ 122,780 = 0.21

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. ConocoPhillips debt to assets ratio (including operating lease liability) deteriorated from 2022 to 2023 and from 2023 to 2024.

Financial Leverage

ConocoPhillips, financial leverage calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Total assets 122,780 95,924 93,829 90,661 62,618
Common stockholders’ equity 64,796 49,279 48,003 45,406 29,849
Solvency Ratio
Financial leverage1 1.89 1.95 1.95 2.00 2.10
Benchmarks
Financial Leverage, Competitors2
Chevron Corp. 1.69 1.63 1.62 1.72 1.82
Exxon Mobil Corp. 1.72 1.84 1.89 2.01 2.12
Occidental Petroleum Corp. 2.50 2.45 2.41 3.69 4.31
Financial Leverage, Sector
Oil, Gas & Consumable Fuels 1.78 1.81 1.83 1.99 2.12
Financial Leverage, Industry
Energy 1.80 1.84 1.86 2.02 2.17

Based on: 10-K (reporting date: 2024-12-31), 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).

1 2024 Calculation
Financial leverage = Total assets ÷ Common stockholders’ equity
= 122,780 ÷ 64,796 = 1.89

2 Click competitor name to see calculations.

Solvency ratio Description The company
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. ConocoPhillips financial leverage ratio decreased from 2022 to 2023 and from 2023 to 2024.

Interest Coverage

ConocoPhillips, interest coverage calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Net income (loss) attributable to ConocoPhillips 9,245 10,957 18,680 8,079 (2,701)
Add: Net income attributable to noncontrolling interest 46
Add: Income tax expense 4,427 5,331 9,548 4,633 (485)
Add: Interest and debt expense 783 780 805 884 806
Earnings before interest and tax (EBIT) 14,455 17,068 29,033 13,596 (2,334)
Solvency Ratio
Interest coverage1 18.46 21.88 36.07 15.38 -2.90
Benchmarks
Interest Coverage, Competitors2
Chevron Corp. 47.31 64.08 97.27 31.39 -9.69
Exxon Mobil Corp. 50.07 63.17 98.43 33.98 -23.94
Occidental Petroleum Corp. 4.46 7.80 14.71 3.30 -10.03
Interest Coverage, Sector
Oil, Gas & Consumable Fuels 27.53 35.53 54.91 17.67 -12.51
Interest Coverage, Industry
Energy 25.58 32.12 48.83 16.26 -13.30

Based on: 10-K (reporting date: 2024-12-31), 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).

1 2024 Calculation
Interest coverage = EBIT ÷ Interest expense
= 14,455 ÷ 783 = 18.46

2 Click competitor name to see calculations.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. ConocoPhillips interest coverage ratio deteriorated from 2022 to 2023 and from 2023 to 2024.

Fixed Charge Coverage

ConocoPhillips, fixed charge coverage calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Net income (loss) attributable to ConocoPhillips 9,245 10,957 18,680 8,079 (2,701)
Add: Net income attributable to noncontrolling interest 46
Add: Income tax expense 4,427 5,331 9,548 4,633 (485)
Add: Interest and debt expense 783 780 805 884 806
Earnings before interest and tax (EBIT) 14,455 17,068 29,033 13,596 (2,334)
Add: Operating lease cost 325 229 212 278 321
Earnings before fixed charges and tax 14,780 17,297 29,245 13,874 (2,013)
 
Interest and debt expense 783 780 805 884 806
Operating lease cost 325 229 212 278 321
Fixed charges 1,108 1,009 1,017 1,162 1,127
Solvency Ratio
Fixed charge coverage1 13.34 17.14 28.76 11.94 -1.79
Benchmarks
Fixed Charge Coverage, Competitors2
Chevron Corp. 7.81 9.57 18.28 8.43 -1.29
Exxon Mobil Corp. 15.85 19.68 31.21 13.55 -9.65
Occidental Petroleum Corp. 2.26 3.09 6.42 1.78 -4.00
Fixed Charge Coverage, Sector
Oil, Gas & Consumable Fuels 9.48 11.61 20.00 7.82 -4.39
Fixed Charge Coverage, Industry
Energy 8.67 10.33 17.37 7.02 -4.45

Based on: 10-K (reporting date: 2024-12-31), 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).

1 2024 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= 14,780 ÷ 1,108 = 13.34

2 Click competitor name to see calculations.

Solvency ratio Description The company
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. ConocoPhillips fixed charge coverage ratio deteriorated from 2022 to 2023 and from 2023 to 2024.