Conocophillips (COP) Operating Margin (2017 - 2026)
Conocophillips' Operating Margin was 53.17% in Q2 2026, up 5.11 percentage points from 48.05% a year earlier and up 6.48 percentage points from the prior quarter.
Powered by 
Analysis
Conocophillips (COP) Operating Margin (2017 - 2026) Analysis & Trends
On a trailing twelve-month basis, Conocophillips' Operating Margin was 47.91% through Jun 30, 2026, down 1.01 percentage points year-over-year; for FY2025, it was 46.94%, down 2.55 percentage points from FY2024.
- Operating Margin shows a five-year change of +11.45 percentage points (FY2020 to FY2025).
- In earlier years, Operating Margin was 49.50% in FY2024 (+0.15 pp), 49.35% in FY2023 (-0.77 pp), 50.12% in FY2022 (-0.54 pp) and 50.67% in FY2021 (+15.18 pp).
- The Q2 2026 figure marks the highest quarterly Operating Margin since Q1 2022.
- Compared with a year earlier, Operating Margin was higher in two of the last eight quarters, with an average year-over-year change of -1.05 percentage points.
- The best year-over-year quarter for Operating Margin over five years was Q3 2021 (a gain of 15.95 percentage points); the worst was Q1 2023 (a drop of 7.83 percentage points).
- Per Business Quant data, COP's Operating Margin in the three quarters before Q2 2026 was 46.69% (Q1 2026), 44.90% (Q4 2025) and 45.31% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | ExxonMobil Holdings | 733.22 Bn | 689.70 Bn | - | - |
| 2 | Chevron | 438.98 Bn | 411.09 Bn | 33.45 Bn | -28.44% |
| 3 | Shell | 308.88 Bn | 238.63 Bn | 30.13 Bn | 22.64% |
| 4 | TotalEnergies SE | 196.90 Bn | 77.48 Bn | 61.77 Bn | 24.82% |
| 5 | Conocophillips | 175.28 Bn | 147.99 Bn | 12.81 Bn | 53.17% |
| 6 | Equinor Asa | 117.54 Bn | 32.00 Bn | - | 36.94% |
| 7 | Phillips 66 | 115.77 Bn | 103.56 Bn | 8.38 Bn | -74.35% |
| 8 | Canadian Natural Resources | 112.51 Bn | 109.52 Bn | 8.84 Bn | 81.91% |
| 9 | Suncor Energy | 94.41 Bn | 80.16 Bn | - | 3.43% |
| 10 | Eni Spa | 88.35 Bn | 32.90 Bn | - | 5.19% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 53.17% |
| Mar 31, 2026 | 46.69% |
| Dec 31, 2025 | 44.90% |
| Sep 30, 2025 | 45.31% |
| Jun 30, 2025 | 48.05% |
| Mar 31, 2025 | 49.16% |
| Dec 31, 2024 | 49.89% |
| Sep 30, 2024 | 48.49% |
| Jun 30, 2024 | 50.33% |
| Mar 31, 2024 | 49.23% |
| Dec 31, 2023 | 49.62% |
| Sep 30, 2023 | 49.29% |
| Jun 30, 2023 | 49.53% |
| Mar 31, 2023 | 48.98% |
| Dec 31, 2022 | 44.87% |
| Sep 30, 2022 | 48.88% |
| Jun 30, 2022 | 50.09% |
| Mar 31, 2022 | 56.81% |
| Dec 31, 2021 | 49.63% |
| Sep 30, 2021 | 52.07% |
API Access
Conocophillips Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=COP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "COP", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=COP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();