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    Contact usWhat is Enterprise Value?Advanced EV Calculator
    CONOCOPHILLIPS (COP)
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    Latest price
    $104.91
    3.07%
    Dollar Amounts
    USD (Millions)
    Metric20202021202220232024
    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-$3,140$12,712$28,228$16,288$13,672
    Net Income-$2,701$8,079$18,680$10,957$9,245
    Data source10-K10-K10-K10-K10-K
    Showing latest financials
    Data in millions of USD
    Doing some research...

    Commentary on ConocoPhillips Performance

    Over the five-year period, ConocoPhillips’ income statement reflects a significant turnaround and subsequent market adjustment. In 2020, the company experienced a challenging year with revenues of 19,256 million USD, a gross profit of 11,178 million, and negative operating and net incomes. However, by 2021, the company rebounded dramatically, with revenue rising to 48,349 million USD and gross profit nearly tripling to 30,191 million USD. Operating income swung from a loss of 3,140 million USD in 2020 to a positive 12,712 million USD in 2021, with net income also moving into positive territory at 8,079 million USD. This recovery likely reflects improved global demand, operational adjustments, and favorable market conditions in the energy sector. In 2022, ConocoPhillips reached its peak financial performance during the period, with revenue climbing to 78,494 million USD, gross profit increasing to 44,523 million USD, and operating and net incomes achieving record highs at 28,228 million USD and 18,680 million USD respectively. However, the subsequent years of 2023 and 2024 saw considerable declines—revenue dropped by over 20% from 2022 to 2023 (78,494 to 56,141 million USD), and similar declines were noted in gross profit, operating income, and net income. These year-over-year swings of more than 20% suggest that the company may have faced market headwinds or strategic recalibrations amid changing energy market dynamics. Overall, despite the recent downturn, the company’s strong recovery from 2020 and robust performance peak in 2022 indicate a solid financial foundation. Investors should monitor how ConocoPhillips adapts to market volatility to sustain its earnings and operational efficiency in the long term.

    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.