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ConocoPhillips (COP) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 17, 2026
ConocoPhillips (COP) reported revenue of $13.4B for the fourth quarter 2025 (Q4 2025), -6% from a year earlier and -11% from the quarter before. Operating margin was 16.8%, net earnings $1.4B (10.8% of revenue).
ConocoPhillips, Q4 2025: revenue $13.4B (-6% year over year), operating margin 16.8%, net earnings $1.4B, operating cash flow $4.3B. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $13.4B | -11% | -6% |
| Operating profit | $2.2B | -23% | -24% |
| Net earnings | $1.4B | -16% | -37% |
| Operating cash flow | $4.3B | -27% | -3% |
| Free cash flow | $1.3B | — | +14% |
What changed
Revenue was $13.4B in Q4 2025, down 6% year over year and down 11% from the previous quarter.
Operating profit was $2.2B, a 16.8% margin (down 4.1 points year over year). Total costs fell 1% while revenue fell 6%. Net earnings were $1.4B, down 37% year over year. The effective tax rate was 35.8%.
Operating cash flow was $4.3B (down 3% year over year), 299% of net earnings. Non-cash charges added back $3.0B of depreciation and amortization. Capital expenditures of $3.0B left free cash flow of $1.3B.
Questions
What was ConocoPhillips' revenue in the fourth quarter 2025?
ConocoPhillips (COP) reported revenue of $13.4B for the fourth quarter 2025 (Q4 2025), -6% from a year earlier and -11% from the quarter before.
Was ConocoPhillips profitable in the fourth quarter 2025?
Operating profit was $2.2B (16.8% of revenue) and net earnings $1.4B.
Source: ConocoPhillips 10-K on SEC EDGAR.