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ConocoPhillips (COP) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · ConocoPhillips (COP) Q3 2026 earnings results →

Q3 2026 Revenue up 29% year over year to $19.4B · 21¢ of every $1 of revenue kept as net profit · operating margin 30.8%

ConocoPhillips made $19.4B in Q3 2026 (+29% Y/Y): Lower 48 $13.2B, EMENA $2.6B, Alaska Segment $1.8B. Operating margin 30.8%, net earnings $4.0B. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.

Revenue$19.4B
Year over year+29%
Operating margin30.8%
Net earnings$4.0B
Operating cash flow$7.2B

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

ConocoPhillips Q3 2026 revenue breakdown: Sankey diagram of revenue (Lower 48, EMENA, Alaska Segment, Canada Operating Segment), costs, profit and cash flow
ConocoPhillips Q3 2026 revenue breakdown — free to use with credit and a link (terms). Share on X
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What changed this quarter

Revenue was $19.4B in Q3 2026, up 29% year over year and up 1% from the previous quarter. Lower 48 was the largest line at 68% of revenue. Lower 48 added $2.7B year over year (up 26%), 61% of the total change.

Operating profit was $6.0B, a 30.8% margin (up 11.3 points year over year). Of the extra revenue versus Q3 2025, 69% reached operating profit, above the 19% margin then. Total costs grew 11% against revenue growth of 29%. The fastest-growing cost line was Cost of revenue (+27%). Net earnings were $4.0B, up 132% year over year. The effective tax rate was 33.1%.

Operating cash flow was $7.2B (up 22% year over year), 180% of net earnings. Non-cash charges added back $3.0B of depreciation and amortization. Capital expenditures of $3.1B left free cash flow of $4.1B.

Quarterly history

ConocoPhillips revenue by quarterConocoPhillips revenue by quarter$16.5BQ1 2025$14.0BQ2 2025$15.0BQ3 2025$13.4BQ4 2025$15.8BQ1 2026$19.2BQ2 2026$19.4BQ3 2026
ConocoPhillips net earnings by quarterConocoPhillips net earnings by quarter$2.8BQ1 2025$2.0BQ2 2025$1.7BQ3 2025$1.4BQ4 2025$2.2BQ1 2026$3.9BQ2 2026$4.0BQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QNov 5, 2026$19.4B+29%30.8%$4.0B$7.2B
Q2 202610-QAug 6, 2026$19.2B+37%31.7%$3.9B$7.4B
Q1 202610-QApr 30, 2026$15.8B-5%21.3%$2.2B$4.3B
Q4 202510-KFeb 17, 2026$13.4B-6%16.8%$1.4B$4.3B
Q3 202510-QNov 6, 2025$15.0B+15%19.5%$1.7B$5.9B
Q2 202510-QAug 7, 2025$14.0B+3%21.5%$2.0B$3.5B
Q1 202510-QMay 8, 2025$16.5B+19%27.0%$2.8B$6.1B

Charts

ConocoPhillips: revenue growth, year over year and quarter over quarterConocoPhillips: revenue growth, year over year and quarter over quarterY/YQ/Q+19%Q1 2025+3%-15%Q2 2025+15%+7%Q3 2025-6%-11%Q4 2025-5%+18%Q1 2026+37%+22%Q2 2026+29%+1%Q3 2026
Latest (Q3 2026): Y/Y +29%, Q/Q +1%.
ConocoPhillips: where the cash came from (+) and went (−), TTM to Q3 2026ConocoPhillips: where the cash came from (+) and went (−), TTM to Q3 2026Operating cash flow$23.2BOther investing−$13.1BBuybacks−$6.4BDividends−$4.1BAsset & business sales$3.4BCash drawn (+) / kept (−)−$2.6BNet borrowing (+) / repaid (−)−$284MShares issued−$83.0MOther financing−$81.0MExchange rates$44.0M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
ConocoPhillips: profit against cash, quarter by quarterConocoPhillips: profit against cash, quarter by quarterNet incomeOperating cash flow$2.3B$4.5BQ4 2024$2.8B$6.1BQ1 2025$2.0B$3.5BQ2 2025$1.7B$5.9BQ3 2025$1.4B$4.3BQ4 2025$2.2B$4.3BQ1 2026$3.9B$7.4BQ2 2026$4.0B$7.2BQ3 2026
Latest (Q3 2026): Net income $4.0B, Operating cash flow $7.2B.
ConocoPhillips: diluted shares by fiscal yearConocoPhillips: diluted shares by fiscal year1.08BFY20201.33BFY20211.28BFY20221.21BFY20231.18BFY20241.25BFY2025
+16.3% since FY2020: more shares outstanding (issuance, stock pay).
ConocoPhillips: long-term debt falling due (FY2025)ConocoPhillips: long-term debt falling due (FY2025)$713M2026$786M2027$670M2028$992M2029$1.6B2030
Cash $6.5B, short-term investments $484M, long-term debt $23.4B at 2025-12-31.
ConocoPhillips in its industry: growth against margin (15 companies, SIC 2911)ConocoPhillips in its industry: growth against margin (15 companies, SIC 2911)revenue growth, year over year →↑ operating marginmedian +52%median 19%XOMCVXMPCPSXVLOSUNCSUNPBFPBF Holding Co LLCIMODKCVIIEPCLMTCOP (+29%, 31%)
Petroleum Refining; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

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💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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Customers and suppliers named in filings

Sells to

About ConocoPhillips

As a leading global exploration and production company, ConocoPhillips is uniquely equipped to deliver reliable, responsibly produced oil and gas. Our deep, durable and diverse portfolio is built to meet growing global energy demands. Together with our high-performing operations and continuously advancing technology, we are well positioned to deliver strong, consistent financial results, now and for decades to come. Visit us at www.conocophillips.com.

In its own words, from its 8-K, filed Aug 6, 2026.

ConocoPhillips against its Petroleum Refining peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +29% against the peers' median +46%. Operating margin: 30.8% against the peers' median 18.7%.

CompanyQuarterRevenueY/YOp. margin
COP ConocoPhillipsQ3 2026$19.4B+29%30.8%
XOM ExxonMobil HoldingsQ3 2026$113.2B+33%18.8%
CVX ChevronQ3 2026$67.8B+36%20.1%
MPC Marathon PetroleumQ3 2026$56.0B+61%18.7%
PSX Phillips 66Q3 2026$50.5B+46%14.1%
VLO Valero EnergyQ3 2026$46.1B+43%19.7%
SUNC SunocoCorp LLCQ3 2026$18.0B+199%4.1%
PBF PBF EnergyQ3 2026$12.1B+59%17.3%
PBF Holding Co LLCQ2 2026$11.7B+56%10.2%

Source: ConocoPhillips 10-Q on SEC EDGAR · CIK 1163165 · Petroleum Refining

Guidance and outlook

ConocoPhillips: what its forward-looking statements are about (10-Q filed 2026-11-05)ConocoPhillips: what its forward-looking statements are about (10-Q filed 2026-11-05)Other4Deals4Margins2Demand1Capital spending1
12 statements; tone -0.17 (−1 all cautious, +1 all confident); 2 hedged.
ConocoPhillips: outlook statements against the filing beforeConocoPhillips: outlook statements against the filing beforeNew1Dropped2Cautious2

13F: who owns COP and who is buying

Largest holders of COP (13F)Largest holders of COP (13F)Vanguard Group$11.3BBlackRock$9.8BVanguard Capital Management LLC$8.3BState Street$6.8BPrice T Rowe Associates$4.7BCharles Schwab Investment Managem…$4.3BCapital International Investors$3.0BFMR LLC$3.0BGeode Capital Management, LLC$3.0BVanguard Portfolio Management LLC$3.0B
Funds' net buying of COP by quarter (13F)Funds' net buying of COP by quarter (13F)−$559M2024-09$685M2024-12$502M2025-03$75.1M2025-06−$452M2025-09$386M2025-12$1.4B2026-03−$2.6B2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on COP

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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中文版：康菲石油（COP）财报

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