Stock Analysis on Net

ConocoPhillips (NYSE:COP)

Enterprise Value (EV) 

Microsoft Excel

Current Enterprise Value (EV)

ConocoPhillips, current enterprise value calculation

Microsoft Excel
Current share price (P) $95.37
No. shares of common stock outstanding 1,262,410,026
US$ in millions
Common equity (market value)1 120,396
Add: Noncontrolling interests (per books)
Total equity 120,396
Add: Short-term debt (per books) 1,035
Add: Long-term debt (per books) 23,289
Total equity and debt 144,720
Less: Cash and cash equivalents 5,607
Less: Short-term investments 507
Less: Investment in Cenovus Energy
Enterprise value (EV) 138,606

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

1 Common equity (market value) = Share price × No. shares of common stock outstanding
= 95.37 × 1,262,410,026


Historical Enterprise Value (EV)

ConocoPhillips, EV calculation

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Share price1, 2 $97.45 $111.00 $108.36 $91.16 $48.85
No. shares of common stock outstanding1 1,272,380,205 1,176,408,368 1,218,776,494 1,299,526,916 1,354,734,727
US$ in millions
Common equity (market value)3 123,993 130,581 132,067 118,465 66,179
Add: Noncontrolling interests (book value)
Total equity 123,993 130,581 132,067 118,465 66,179
Add: Short-term debt (book value) 1,035 1,074 417 1,200 619
Add: Long-term debt (book value) 23,289 17,863 16,226 18,734 14,750
Total equity and debt 148,317 149,518 148,710 138,399 81,548
Less: Cash and cash equivalents 5,607 5,635 6,458 5,028 2,991
Less: Short-term investments 507 971 2,785 446 3,609
Less: Investment in Cenovus Energy 1,117 1,256
Enterprise value (EV) 142,203 142,912 139,467 131,808 73,692

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 Data adjusted for splits and stock dividends.

2 Closing price as at the filing date of ConocoPhillips Annual Report.

3 2024 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 97.45 × 1,272,380,205


Common Equity and Total Equity
The common equity, which is equal to total equity, experienced a significant upward trend from the end of 2020 to 2022, increasing from approximately 66.2 billion US dollars to 132.1 billion US dollars. This represents nearly a doubling within two years. However, after reaching this peak, it showed a slight decline in 2023 and continued a moderate decrease in 2024, falling to around 124.0 billion US dollars by the end of 2024.
Total Equity and Debt
Total equity and debt combined exhibited a consistent growth trend from the end of 2020 through 2023, increasing from 81.5 billion US dollars to approximately 149.5 billion US dollars. In 2024, this value showed a slight decline to about 148.3 billion US dollars, indicating a stabilization after several years of increase.
Enterprise Value (EV)
The enterprise value steadily rose from 73.7 billion US dollars at the end of 2020 to a peak of approximately 142.9 billion US dollars by the end of 2023. In 2024, a small decrease to roughly 142.2 billion US dollars was observed, signaling a plateau phase following years of growth.
Overall Trends and Insights
The data reveal robust growth in equity-related measures between 2020 and 2022, with equity levels roughly doubling. Total capital (equity plus debt) and enterprise value also increased substantially during this period, reflecting expansion or appreciation in company valuation and financial resources. Starting in 2023, small declines or stabilization in all reported metrics suggest a period of consolidation or some market adjustments after prior growth stages. The relative stability of total equity compared to total equity and debt might indicate careful management of leverage levels. Overall, the company showed strong growth up to 2022 followed by a phase of modest decreases or leveling off in capital and valuation metrics through 2024.