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ConocoPhillips cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$7.2B in Q3 2026 · $23.2B over twelve months

Operating cash flow$7.2B
Free cash flow+$7.2B
Cash / net income1.8×
Cash conversion cycle-35 days

Analysis

In Q3 2026, ConocoPhillips generated $7.2B of operating cash flow. That is $1.3B more than in Q3 2025 ($5.9B).

Over the twelve months to Sep 30, 2026, operating cash flow was $23.2B; the largest uses were other investing ($13.1B), buybacks ($6.4B), dividends ($4.1B); besides operations, cash came from asset & business sales ($3.4B); the cash balance rose by $2.6B.

Operating cash flow was $7.2B against net income of $4.0B — 1.8× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$3.0B, receivables −$889M, payables +$612M.

Its cash conversion cycle was -35 days (receivables 29 + inventory 24 − payables 88): suppliers fund its working capital.

Free cash flow

ConocoPhillips: free cash flow by quarterConocoPhillips: free cash flow by quarter$4.5BQ4 2024$6.1BQ1 2025$3.5BQ2 2025$5.9BQ3 2025$4.3BQ4 2025$4.3BQ1 2026$7.4BQ2 2026$7.2BQ3 2026
Operating cash flow less capital spending.
ConocoPhillips: operating cash flow against capital spendingConocoPhillips: operating cash flow against capital spendingOperating cash flowCapital spending$4.5B$0Q4 2024$6.1B$0Q1 2025$3.5B$0Q2 2025$5.9B$0Q3 2025$4.3B$0Q4 2025$4.3B$0Q1 2026$7.4B$0Q2 2026$7.2B$0Q3 2026
Latest (Q3 2026): Operating cash flow $7.2B, Capital spending $0.

Capital allocation, year by year

ConocoPhillips: where the cash came from (up) and went (down), by fiscal yearConocoPhillips: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $17.0BFY2021: Net borrowing −$505MFY2021: Shares issued $145MFY2021: Asset sales $1.7BFY2021: Capital spending −$5.3BFY2021: Acquisitions −$8.3BFY2021: Buybacks −$3.6BFY2021: Dividends −$2.4B$18.8BFY2021FY2022: Operating cash flow $28.3BFY2022: Net borrowing −$3.4BFY2022: Shares issued $362MFY2022: Asset sales $3.5BFY2022: Capital spending −$10.2BFY2022: Acquisitions −$60.0MFY2022: Buybacks −$9.3BFY2022: Dividends −$5.7B$32.1BFY2022FY2023: Operating cash flow $20.0BFY2023: Net borrowing $2.4BFY2023: Shares issued −$52.0MFY2023: Asset sales $632MFY2023: Acquisitions −$2.7BFY2023: Buybacks −$5.4BFY2023: Dividends −$5.6B$23.0BFY2023FY2024: Operating cash flow $20.1BFY2024: Net borrowing $610MFY2024: Shares issued −$78.0MFY2024: Asset sales $261MFY2024: Acquisitions −$24.0MFY2024: Buybacks −$5.5BFY2024: Dividends −$3.6B$21.0BFY2024FY2025: Operating cash flow $19.8BFY2025: Net borrowing −$913MFY2025: Shares issued −$100MFY2025: Asset sales $3.2BFY2025: Buybacks −$5.0BFY2025: Dividends −$4.0B$23.0BFY2025
Over these 5 years operating cash flow totalled $105.2B; the largest uses were buybacks ($28.8B) and dividends ($21.3B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$9.9B
Debt$23.3B
Net debt$13.4B
Due within a year$713M

ConocoPhillips funds itself: free cash flow was $23.2B over the last twelve months, and $9.9B of cash and investments stands against $23.3B of debt ($713M due within a year, 13.9× covered by cash).

ConocoPhillips: debt maturities by year (FY2025)ConocoPhillips: debt maturities by year (FY2025)$713MYear 1$786MYear 2$670MYear 3$992MYear 4$1.6BYear 5
Principal due in each year as disclosed in the annual report, against $9.9B of cash and investments now.

Where the cash came from and went

ConocoPhillips: sources (+) and uses (−) of cash, Q3 2026ConocoPhillips: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$7.2BOther investing−$4.1BBuybacks−$2.4BAsset & business sales$1.6BCash drawn (+) / kept (−)−$1.3BDividends−$1.0BNet borrowing (+) / repaid (−)−$647MOther financing$599MExchange rates$42.0MShares issued−$9.0M
ConocoPhillips: sources (+) and uses (−) of cash, TTM to Q3 2026ConocoPhillips: sources (+) and uses (−) of cash, 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 profit to cash

ConocoPhillips: net income to operating cash flow, Q3 2026ConocoPhillips: net income to operating cash flow, Q3 2026Net income$4.0BDepreciation & amortization$3.0BDeferred taxes$107MImpairments$18.0MGains on disposals−$54.0MReceivables−$889MInventory−$97.0MPayables$612MPrepaid and other assets$77.0MOther operating capital$320MOperating cash flow$7.2B
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 2026292488-35
Q2 2026282693-40
Q1 2026292795-38
Q4 20253132110-48
Q3 20252828100-44
Q2 20253233124-59
Q1 2025292797-42

Every quarter

QuarterOperating cash flowAcquisitionsBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$7.2B—−$2.4B−$1.0B−$647M−$9.0M−$1.3B$7.2B
Q2 2026$7.4B—−$2.0B−$1.0B−$61.0M−$4.0M−$719M$7.4B
Q1 2026$4.3B—−$1.0B−$1.0B−$114M−$35.0M$670M$4.3B
Q4 2025$4.3B—−$1.0B−$1.0B−$62.0M−$35.0M−$1.3B$4.3B
Q3 2025$5.9B—−$1.3B−$975M−$45.0M−$10.0M−$373M$5.9B
Q2 2025$3.5B—−$1.2B−$984M−$259M−$3.0M$1.4B$3.5B
Q1 2025$6.1B—−$1.5B−$998M−$547M−$52.0M−$715M$6.1B
Q4 2024$4.5B−$73.0M−$1.9B−$897M$1.2B−$12.0M−$383M$4.5B

ConocoPhillips: income statement and cash flow

ConocoPhillips, Q3 2026: revenue $19.4B (+29% year over year), operating margin 30.8%. The chart follows the revenue to costs, profit and cash.

ConocoPhillips: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.