Filing Flows › Comparisons › EQNR vs COP
Equinor ASA vs ConocoPhillips: EQNR and COP compared
Equinor ASA is the larger company: $26.0B of revenue in its latest quarter (Q3 2025) against $19.4B for ConocoPhillips (Q3 2026). ConocoPhillips is growing faster (+29% against +2% a year earlier). ConocoPhillips is more profitable, with an operating margin of 30.8% against 20.2%.
Where the money goes: EQNR and COP
Equinor ASA (EQNR) · Q3 2025
Equinor ASA, Q3 2025: revenue $26.0B (+2% year over year), operating margin 20.2%, net loss $204M, operating cash flow $6.3B. The chart follows the revenue to costs, profit and cash.
ConocoPhillips (COP) · Q3 2026
ConocoPhillips, Q3 2026: revenue $19.4B (+29% year over year), operating margin 30.8%, net earnings $4.0B, operating cash flow $7.2B. The chart follows the revenue to costs, profit and cash.
| Equinor ASA (EQNR) | ConocoPhillips (COP) | |
|---|---|---|
| Latest quarter | Q3 2025 | Q3 2026 |
| Revenue | $26.0B | $19.4B |
| Revenue growth, Y/Y | +2% | +29% |
| Operating margin | 20.2% | 30.8% |
| Net earnings | −$204M | $4.0B |
| Net margin | -0.8% | 20.6% |
| Operating cash flow | $6.3B | $7.2B |
| Free cash flow | $2.9B | $4.1B |
| Market value | — | $163.0B |
| P/E | — | 14.1× |
| Analysts’ mean target | — | $152.00 |
Where the revenue comes from
ConocoPhillips
- Lower 48: $13.2B (68%)
- EMENA: $2.6B (13%)
- Alaska Segment: $1.8B (9%)
- Canada Operating Segment: $1.2B (6%)
Questions
Which is bigger, Equinor ASA or ConocoPhillips?
Equinor ASA is the larger company: $26.0B of revenue in its latest quarter (Q3 2025) against $19.4B for ConocoPhillips (Q3 2026).
Is Equinor ASA or ConocoPhillips growing faster?
ConocoPhillips is growing faster (+29% against +2% a year earlier).
Which is more profitable, Equinor ASA or ConocoPhillips?
ConocoPhillips is more profitable, with an operating margin of 30.8% against 20.2%.
More: Equinor ASA earnings · how Equinor ASA makes money · ConocoPhillips earnings · how ConocoPhillips makes money
From the companies' latest 10-Q, 10-K or earnings release (6-K filed Oct 29, 2025; 10-Q filed Nov 5, 2026). Fiscal quarters can end on different dates. Not investment advice.