Edwyn
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Revenue | $19,256 | $48,349 | $78,494 | $56,141 | $54,745 |
| Gross Profit | $11,178 | $30,191 | $44,523 | $34,166 | $34,733 |
| Operating Income | N/A | N/A | N/A | N/A | N/A |
| Net Income | -$2,701 | $8,079 | $18,680 | $10,957 | $9,245 |
Over the five-year period, ConocoPhillips’ revenue and gross profit demonstrated notable volatility. Revenue increased dramatically from USD 19.3 billion in 2020 to USD 48.3 billion in 2021—a growth of approximately 150%—and continued to climb to nearly USD 78.5 billion in 2022. However, a significant contraction occurred in 2023 when revenue dropped by roughly 28% to USD 56.1 billion, with a further slight decline to USD 54.7 billion in 2024. Gross profit followed a similar pattern, rising from USD 11.2 billion in 2020 to a peak of USD 44.5 billion in 2022 before falling to just above USD 34.7 billion in the subsequent years. These fluctuations suggest that market conditions, such as global energy demand and commodity price shifts, have exerted a substantial influence on the company’s top-line performance over this period. Net income reflects a dramatic turnaround and subsequent volatility. The company reported a net loss of USD 2.7 billion in 2020, which sharply reversed to a profit of USD 8.1 billion in 2021, and further increased to USD 18.7 billion in 2022. However, net income contracted by nearly 41% to USD 11.0 billion in 2023 and dipped further to USD 9.2 billion in 2024. Notably, the operating income was consistently reported as zero across all periods, indicating either a unique accounting treatment or a data reporting peculiarity. Overall, while ConocoPhillips has shown strong recovery and growth in certain years, recent declines in revenue, gross profit, and net income raise questions about sustainability amid market volatility. The company's performance appears closely linked to external market dynamics typical in the energy sector, necessitating careful monitoring going forward.
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.