Conocophillips (COP) Return on Capital Employed (2009 - 2026)
Conocophillips (COP) posted quarterly Return on Capital Employed of 22.86% for Q1 2026, down 84.0% year-over-year from 142.85% in Q1 2025, and down 1.98% quarter-over-quarter from 23.32% in Q4 2025.
Conocophillips (COP) Return on Capital Employed (2009 - 2026) Analysis & Trends
Conocophillips (COP) has reported Return on Capital Employed for 18 consecutive years, with 22.86% the latest figure, recorded in Q1 2026.
- In Q1 2026, Return on Capital Employed fell 84.0% year-over-year to 22.86%; the TTM figure through Mar 2026 stood at 22.86% (down 84.0% YoY), while the FY2025 annual figure was 23.81%, down 291.0% from the prior year.
- Return on Capital Employed eased to 22.86% in Q1 2026 per COP's latest filing, from 23.32% in the prior quarter.
- Across five years, Return on Capital Employed topped out at 47.57% in Q3 2022 and bottomed at 14.61% in Q3 2024.
- Historically, Return on Capital Employed has averaged 28.15% across 5 years, with a median of 24.5% in 2025.
- Annual changes were most pronounced in 2022 — Return on Capital Employed soared 2566 bps — and 2023, when it sank 2903 bps.
- Conocophillips' Return on Capital Employed stood at 44.29% in 2022, then slumped by 66 bps to 15.25% in 2023, then jumped by 67 bps to 25.4% in 2024, then declined by 8 bps to 23.32% in 2025, then slipped by 2 bps to 22.86% in 2026.
- Business Quant data shows COP's Return on Capital Employed at 22.86% in Q1 2026, 23.32% in Q4 2025, and 24.5% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | Conocophillips | 163.55 Bn | 155.86 Bn | 12.81 Bn | 28.17% |
| 2 | Canadian Natural Resources | 106.27 Bn | 104.37 Bn | 10.66 Bn | - |
| 3 | Eog Resources | 80.09 Bn | 75.19 Bn | - | 18.27% |
| 4 | Diamondback Energy | 59.30 Bn | 58.83 Bn | 5.55 Bn | 1.68% |
| 5 | Devon Energy | 46.23 Bn | 45.22 Bn | 6.02 Bn | 9.42% |
| 6 | Woodside Energy | 45.77 Bn | 39.83 Bn | 6.02 Bn | - |
| 7 | Occidental Petroleum | 39.39 Bn | 35.24 Bn | 7.73 Bn | 5.58% |
| 8 | Eqt | 33.71 Bn | 33.60 Bn | 1.42 Bn | 10.19% |
| 9 | Texas Pacific Land | 25.43 Bn | 25.18 Bn | - | 39.30% |
| 10 | Expand Energy | 22.90 Bn | 21.63 Bn | 2.33 Bn | 14.19% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 28.17% |
| Mar 31, 2026 | 22.86% |
| Dec 31, 2025 | 23.32% |
| Sep 30, 2025 | 24.50% |
| Jun 30, 2025 | 23.20% |
| Mar 31, 2025 | 23.70% |
| Dec 31, 2024 | 25.40% |
| Sep 30, 2024 | 14.61% |
| Jun 30, 2024 | 16.17% |
| Mar 31, 2024 | 14.67% |
| Dec 31, 2023 | 15.25% |
| Sep 30, 2023 | 30.82% |
| Jun 30, 2023 | 34.19% |
| Mar 31, 2023 | 39.49% |
| Dec 31, 2022 | 44.29% |
| Sep 30, 2022 | 47.57% |
| Jun 30, 2022 | 42.16% |
| Mar 31, 2022 | 36.42% |
| Dec 31, 2021 | 28.93% |
| Sep 30, 2021 | 22.49% |