Conocophillips (COP) Gross Margin (2017 - 2026)
Conocophillips (COP) recorded quarterly Gross Margin of 60.14% in Q1 2026, up 9.06% quarter-over-quarter from 55.14% in Q4 2025, and down 240.0% on a YoY basis from 42.95% in Q1 2025.
Conocophillips (COP) Gross Margin (2017 - 2026) Analysis & Trends
Conocophillips' Gross Margin history runs 10 years deep, the most recent figure standing at 60.14% for Q1 2026.
- In Q1 2026, Gross Margin fell 240.0% year-over-year to 60.14%; the TTM figure through Mar 2026 stood at 60.74% (down 459.0% YoY), while the FY2025 annual figure was 62.13%, down 274.0% from the prior year.
- Gross Margin was 60.14% for Q1 2026 at Conocophillips, up from 55.14% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 69.15% in Q4 2024 to a low of 892.66% in Q4 2023.
- Historically, Gross Margin has averaged 5.24% across 5 years, with a median of 61.48% in 2024.
- The sharpest annual moves came in 2023 and 2024: Gross Margin plunged 94559 bps in 2023, then surged 96181 bps in 2024.
- A 5-year view of Gross Margin shows it stood at 52.93% in 2022, then slumped by 1786 bps to 892.66% in 2023, then jumped by 108 bps to 69.15% in 2024, then fell by 20 bps to 55.14% in 2025, then climbed by 9 bps to 60.14% in 2026.
- The last three Gross Margin figures came in at 60.14% (Q1 2026), 55.14% (Q4 2025), and 61.03% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Woodside Energy | 630.08 Bn | 624.14 Bn | - | - |
| 2 | Canadian Natural Resources | 388.31 Bn | 388.31 Bn | 6.72 Bn | 85.25% |
| 3 | Conocophillips | 142.98 Bn | 136.61 Bn | 9.48 Bn | 60.14% |
| 4 | Eog Resources | 72.93 Bn | 69.08 Bn | - | - |
| 5 | Occidental Petroleum | 55.91 Bn | 52.73 Bn | 4.87 Bn | 93.19% |
| 6 | Diamondback Energy | 54.95 Bn | 61.11 Bn | 4.22 Bn | 99.43% |
| 7 | Vista Energy, S.A.B. de C.V | 35.18 Bn | 34.56 Bn | 472.36 Mn | 54.61% |
| 8 | Eqt | 32.94 Bn | 36.28 Bn | 2.98 Bn | 88.15% |
| 9 | Vermilion Energy | 31.24 Bn | 31.05 Bn | 370.10 Mn | 98.87% |
| 10 | Devon Energy | 27.08 Bn | 27.08 Bn | 3.61 Bn | 80.17% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 60.14% |
| Dec 31, 2025 | 55.14% |
| Sep 30, 2025 | 61.03% |
| Jun 30, 2025 | 65.50% |
| Mar 31, 2025 | 62.54% |
| Dec 31, 2024 | 69.15% |
| Sep 30, 2024 | 65.11% |
| Jun 30, 2024 | 64.33% |
| Mar 31, 2024 | 61.48% |
| Dec 31, 2023 | -892.66% |
| Sep 30, 2023 | 62.71% |
| Jun 30, 2023 | 64.17% |
| Mar 31, 2023 | 58.56% |
| Dec 31, 2022 | 52.93% |
| Sep 30, 2022 | 55.97% |
| Jun 30, 2022 | 58.01% |
| Mar 31, 2022 | 65.00% |
| Dec 31, 2021 | 57.02% |
| Sep 30, 2021 | 64.02% |
| Jun 30, 2021 | 70.64% |