Conocophillips (COP) Gross Margin (2017 - 2026)
Conocophillips' (COP) quarterly Gross Margin came in at 65.62% in Q2 2026, up 12.0% year-over-year from 58.59% in Q2 2025, and up 7.81% quarter-over-quarter from 60.86% in Q1 2026.
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Conocophillips (COP) Gross Margin (2017 - 2026) Analysis & Trends
Conocophillips (COP) has reported Gross Margin for 10 consecutive years, with 65.62% the latest figure, recorded in Q2 2026.
- On a quarterly basis, Gross Margin rose 12.0% year-over-year to 65.62% in Q2 2026; TTM through Jun 2026 was 63.16%, a 179.0% decrease from a year earlier, with the FY2025 full-year figure at 63.73%, down 113.0% from the prior year.
- Gross Margin was 65.62% for Q2 2026 at Conocophillips, up from 60.86% in the prior quarter.
- Over five years, Gross Margin peaked at 65.63% in Q2 2024 and troughed at 892.66% in Q4 2023.
- A 5-year average of 9.47% and a median of 63.26% in 2024 frame the typical range for Gross Margin.
- Across the five-year window, Gross Margin sank 94731 bps in 2023 and surged 95823 bps in 2024, its largest moves.
- Over 5 years, Gross Margin stood at 54.65% in 2022, then plunged by 1733 bps to 892.66% in 2023, then soared by 107 bps to 65.58% in 2024, then dropped by 3 bps to 63.38% in 2025, then gained by 4 bps to 65.62% in 2026.
- The last three Gross Margin figures came in at 65.62% (Q2 2026), 60.86% (Q1 2026), and 63.38% (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Conocophillips | 166.07 Bn | 158.38 Bn | 12.81 Bn | 65.62% |
| 2 | Canadian Natural Resources | 107.37 Bn | 105.48 Bn | 8.84 Bn | 82.99% |
| 3 | Eog Resources | 77.26 Bn | 72.36 Bn | - | - |
| 4 | Diamondback Energy | 56.93 Bn | 56.47 Bn | 5.55 Bn | 99.84% |
| 5 | Devon Energy | 45.90 Bn | 44.89 Bn | 6.02 Bn | 81.22% |
| 6 | Expand Energy | 23.03 Bn | 21.76 Bn | 2.33 Bn | 78.58% |
| 7 | Permian Resources | 19.81 Bn | 19.55 Bn | - | - |
| 8 | Ovintiv | 18.04 Bn | 17.15 Bn | 2.83 Bn | 93.93% |
| 9 | Apa | 15.80 Bn | 15.36 Bn | 2.28 Bn | 94.91% |
| 10 | Antero Resources | 12.13 Bn | 11.56 Bn | 1.56 Bn | 100.00% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 65.62% |
| Mar 31, 2026 | 60.86% |
| Dec 31, 2025 | 63.38% |
| Sep 30, 2025 | 62.27% |
| Jun 30, 2025 | 65.50% |
| Mar 31, 2025 | 63.81% |
| Dec 31, 2024 | 65.58% |
| Sep 30, 2024 | 65.11% |
| Jun 30, 2024 | 65.63% |
| Mar 31, 2024 | 63.15% |
| Dec 31, 2023 | -892.66% |
| Sep 30, 2023 | 62.71% |
| Jun 30, 2023 | 64.17% |
| Mar 31, 2023 | 60.44% |
| Dec 31, 2022 | 54.65% |
| Sep 30, 2022 | 57.20% |
| Jun 30, 2022 | 58.01% |
| Mar 31, 2022 | 65.00% |
| Dec 31, 2021 | 59.29% |
| Sep 30, 2021 | 64.02% |