0001163165-26-000009
SEC filingConocoPhillips reported strong financial results for the fiscal year ended December 31, 2025, demonstrating robust operational execution. Total revenues and other income reached $61.55 billion, driven by $58.94 billion in sales and other operating revenues, supplemented by $1.33 billion in equity earnings from affiliates. The company maintained cost discipline, with total costs and expenses amounting to $48.89 billion, resulting in a pre-tax income of $12.66 billion. After a tax provision of $4.67 billion, net income settled at $7.99 billion, translating to earnings per share of $6.00 on both a basic and diluted basis. Operationally, the company generated substantial cash flow, with net cash provided by operating activities totaling $19.80 billion. This strong cash generation supported capital expenditures of $12.55 billion and significant shareholder returns, including $5.02 billion in share repurchases and $4.00 billion in dividends paid. The balance sheet remains solid with total assets of $121.94 billion and total equity of $64.49B.
For the fiscal year ended December 31, 2025, ConocoPhillips delivered solid financial performance. The company reported total revenues and other income of $61.55 billion. After accounting for total costs and expenses of $48.89 billion, the company achieved an income before income taxes of $12.66 billion. The income tax provision was $4.67 billion, resulting in a net income of $7.99 billion. Earnings per share were reported at $6.00 for both basic and diluted weighted-average shares outstanding of 1.25 billion. The effective tax rate for the period was approximately 36.9%.
Total revenues of $61.55 billion were primarily driven by sales and other operating revenues, which contributed $58.94 billion. Ancillary income streams provided additional support: equity in earnings of affiliates added $1.33 billion, gain on dispositions contributed $731 million, and other income totaled $538 million. The revenue generation reflects the company's integrated upstream operations, though specific segment or geographic breakdowns were not detailed in the provided financial data.
ConocoPhillips demonstrated strong profitability metrics for the year. The calculated operating margin (income before tax / revenue) stood at 20.6%. The net profit margin was 13.0%. Key cost components included purchased commodities at $22.32 billion and production/operating expenses of $10.33 billion. Depreciation, depletion, and amortization (DD&A) charges were significant at $11.50 billion, reflecting the capital-intensive nature of the exploration and production business. Interest and debt expense was contained at $855 million.
The company's liquidity position remains robust. Net cash provided by operating activities was $19.80 billion. After capital expenditures and investments of $12.55 billion, the company generated free cash flow of approximately $7.25 billion. Financing activities utilized $10.10 billion, primarily for share repurchases ($5.02 billion) and dividends ($4.00 billion). On the balance sheet, total assets were $121.94 billion against total liabilities of $57.45 billion, resulting in total equity of $64.49 billion. Total debt (short-term and long-term) stood at $23.44 billion, while cash and cash equivalents ended the period at $6.50 billion.
The provided financial data does not contain specific forward-looking statements, management guidance, or strategic priorities for the upcoming fiscal year. Investors should refer to the Management's Discussion and Analysis (MD&A) section of the complete 10-K filing for detailed information on future capital allocation plans, production targets, and risk factors associated with commodity price volatility.