Conocophillips (COP) Return on Invested Capital [ROIC] (2009 - 2026)
Conocophillips' Return on Invested Capital [ROIC] came in at 22.50% for Q2 2026, up 0.32 percentage points from 22.18% a year earlier and up 2.33 percentage points from the prior quarter.
Conocophillips (COP) Return on Invested Capital [ROIC] (2009 - 2026) Analysis & Trends
For FY2025, Conocophillips' Return on Invested Capital [ROIC] was 20.60%, down 3.63 percentage points from FY2024.
- Return on Invested Capital [ROIC] has declined in each of the last three years, though with a five-year change of +8.45 percentage points (FY2020 to FY2025).
- Going back by year, Return on Invested Capital [ROIC] was 24.23% in FY2024 (-5.04 pp), 29.27% in FY2023 (-12.66 pp), 41.93% in FY2022 (+13.76 pp) and 28.16% in FY2021 (+16.02 pp).
- The Q2 2026 figure represents the highest quarterly Return on Invested Capital [ROIC] since Q4 2024.
- Year-over-year, Return on Invested Capital [ROIC] increased in 1 of the last eight quarters, with an average year-over-year change of -3.80 percentage points.
- The fastest year-over-year change in Return on Invested Capital [ROIC] over five years came in Q1 2022 (a gain of 26.04 percentage points), and the weakest in Q4 2023 (a drop of 12.90 percentage points).
- Business Quant data shows COP's Return on Invested Capital [ROIC] at 20.17% (Q1 2026), 20.68% (Q4 2025) and 22.27% (Q3 2025) in the three quarters before Q2 2026.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROIC (Qtr) |
|---|---|---|---|---|---|
| 1 | ExxonMobil Holdings | 742.51 Bn | 698.99 Bn | - | 11.12% |
| 2 | Chevron | 445.06 Bn | 417.18 Bn | 33.45 Bn | -25.37% |
| 3 | Shell | 310.78 Bn | 240.53 Bn | 30.13 Bn | 13.05% |
| 4 | TotalEnergies SE | 197.34 Bn | 77.92 Bn | 61.77 Bn | 36.80% |
| 5 | Conocophillips | 177.35 Bn | 150.05 Bn | 12.81 Bn | 22.50% |
| 6 | Equinor Asa | 118.67 Bn | 33.12 Bn | - | 47.74% |
| 7 | Phillips 66 | 116.93 Bn | 104.72 Bn | 8.38 Bn | -181.46% |
| 8 | Canadian Natural Resources | 113.22 Bn | 110.23 Bn | 8.84 Bn | - |
| 9 | Suncor Energy | 95.47 Bn | 81.22 Bn | - | - |
| 10 | Eni Spa | 89.01 Bn | 33.57 Bn | - | 6.87% |
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 22.50% |
| Mar 31, 2026 | 20.17% |
| Dec 31, 2025 | 20.68% |
| Sep 30, 2025 | 22.27% |
| Jun 30, 2025 | 22.18% |
| Mar 31, 2025 | 22.03% |
| Dec 31, 2024 | 24.24% |
| Sep 30, 2024 | 27.73% |
| Jun 30, 2024 | 28.98% |
| Mar 31, 2024 | 28.51% |
| Dec 31, 2023 | 28.80% |
| Sep 30, 2023 | 29.72% |
| Jun 30, 2023 | 32.46% |
| Mar 31, 2023 | 37.31% |
| Dec 31, 2022 | 41.70% |
| Sep 30, 2022 | 40.14% |
| Jun 30, 2022 | 36.06% |
| Mar 31, 2022 | 31.40% |
| Dec 31, 2021 | 24.11% |
| Sep 30, 2021 | 18.97% |
Conocophillips Return on Invested Capital [ROIC] 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=return-on-invested-capital-%5Broic%5D&ticker=COP&period=max&api_key=YOUR_API_KEY
import requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-invested-capital-[roic]", "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=return-on-invested-capital-%5Broic%5D&ticker=COP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();