Conocophillips (COP) Gross Margin (2017 - 2026)
Conocophillips (COP) posted quarterly Gross Margin of 60.14% for Q1 2026, down 240.0% year-over-year from 42.95% in Q1 2025, and up 9.06% quarter-over-quarter from 55.14% in Q4 2025.
Conocophillips (COP) Gross Margin (2017 - 2026) Analysis & Trends
Conocophillips (COP) has reported Gross Margin for 10 consecutive years, with 60.14% the latest figure, recorded in Q1 2026.
- In Q1 2026, Gross Margin fell 240.0% year-over-year to 60.14%; the TTM figure through Mar 2026 stood at 61.08% (down 181.0% YoY), while the FY2025 annual figure was 62.13%, down 132.0% from the prior year.
- Gross Margin advanced to 60.14% in Q1 2026 per COP's latest filing, from 55.14% in the prior quarter.
- Across five years, Gross Margin topped out at 65.63% in Q2 2024 and bottomed at 892.66% in Q4 2023.
- Historically, Gross Margin has averaged 4.02% across 5 years, with a median of 61.48% in 2024.
- Annual changes were most pronounced in 2023 — Gross Margin sank 93666 bps — and 2024, when it soared 95217 bps.
- Conocophillips' Gross Margin stood at 44.01% in 2022, then tumbled by 2128 bps to 892.66% in 2023, then jumped by 107 bps to 59.51% in 2024, then declined by 7 bps to 55.14% in 2025, then advanced by 9 bps to 60.14% in 2026.
- Business Quant data shows COP's Gross Margin at 60.14% in Q1 2026, 55.14% in Q4 2025, and 62.27% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Conocophillips | 163.55 Bn | 155.86 Bn | 12.81 Bn | 65.62% |
| 2 | Canadian Natural Resources | 106.27 Bn | 104.37 Bn | 10.66 Bn | 85.63% |
| 3 | Eog Resources | 80.09 Bn | 75.19 Bn | - | - |
| 4 | Diamondback Energy | 59.30 Bn | 58.83 Bn | 5.55 Bn | 99.84% |
| 5 | Devon Energy | 46.23 Bn | 45.22 Bn | 6.02 Bn | 81.22% |
| 6 | Woodside Energy | 45.77 Bn | 39.83 Bn | 6.02 Bn | 91.41% |
| 7 | Occidental Petroleum | 39.39 Bn | 35.24 Bn | 7.73 Bn | 95.88% |
| 8 | Eqt | 33.71 Bn | 33.60 Bn | 1.42 Bn | 78.73% |
| 9 | Texas Pacific Land | 25.43 Bn | 25.18 Bn | - | - |
| 10 | Expand Energy | 22.90 Bn | 21.63 Bn | 2.33 Bn | 78.58% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 65.62% |
| Mar 31, 2026 | 60.14% |
| Dec 31, 2025 | 55.14% |
| Sep 30, 2025 | 62.27% |
| Jun 30, 2025 | 65.50% |
| Mar 31, 2025 | 62.54% |
| Dec 31, 2024 | 59.51% |
| Sep 30, 2024 | 63.60% |
| Jun 30, 2024 | 65.63% |
| Mar 31, 2024 | 61.48% |
| Dec 31, 2023 | -892.66% |
| Sep 30, 2023 | 62.71% |
| Jun 30, 2023 | 62.63% |
| Mar 31, 2023 | 58.56% |
| Dec 31, 2022 | 44.01% |
| Sep 30, 2022 | 55.97% |
| Jun 30, 2022 | 56.36% |
| Mar 31, 2022 | 65.00% |
| Dec 31, 2021 | 57.02% |
| Sep 30, 2021 | 64.02% |