Conocophillips (COP) Tax Rate (2009 - 2026)
Conocophillips (COP) posted quarterly Tax Rate of 35.09% for Q1 2026, down 112.0% year-over-year from 292.4% in Q1 2025, and down 1.9% quarter-over-quarter from 35.77% in Q4 2025.
Conocophillips (COP) Tax Rate (2009 - 2026) Analysis & Trends
Conocophillips (COP) has reported Tax Rate for 18 consecutive years, with 35.09% the latest figure, recorded in Q1 2026.
- In Q1 2026, Tax Rate fell 112.0% year-over-year to 35.09%; the TTM figure through Mar 2026 stood at 36.62% (up 1060.0% YoY), while the FY2025 annual figure was 36.88%, up 450.0% from the prior year.
- Tax Rate declined to 35.09% in Q1 2026 per COP's latest filing, from 35.77% in the prior quarter.
- Across five years, Tax Rate topped out at 41.05% in Q3 2025 and bottomed at 13.27% in Q4 2024.
- Historically, Tax Rate has averaged 31.94% across 5 years, with a median of 35.09% in 2026.
- Annual changes were most pronounced in 2024 — Tax Rate slumped 4275 bps — and 2025, when it soared 4903 bps.
- Conocophillips' Tax Rate stood at 37.94% in 2022, then decreased by 22 bps to 29.48% in 2023, then sank by 145 bps to 13.27% in 2024, then surged by 370 bps to 35.77% in 2025, then slipped by 2 bps to 35.09% in 2026.
- Business Quant data shows COP's Tax Rate at 35.09% in Q1 2026, 35.77% in Q4 2025, and 41.05% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Tax Rate (Qtr) |
|---|---|---|---|---|---|
| 1 | Conocophillips | 163.55 Bn | 155.86 Bn | 12.81 Bn | 35.37% |
| 2 | Canadian Natural Resources | 106.27 Bn | 104.37 Bn | 10.66 Bn | 18.22% |
| 3 | Eog Resources | 80.09 Bn | 75.19 Bn | - | 22.15% |
| 4 | Diamondback Energy | 59.30 Bn | 58.83 Bn | 5.55 Bn | 22.01% |
| 5 | Devon Energy | 46.23 Bn | 45.22 Bn | 6.02 Bn | 22.36% |
| 6 | Woodside Energy | 45.77 Bn | 39.83 Bn | 6.02 Bn | - |
| 7 | Occidental Petroleum | 39.39 Bn | 35.24 Bn | 7.73 Bn | 23.37% |
| 8 | Eqt | 33.71 Bn | 33.60 Bn | 1.42 Bn | 23.18% |
| 9 | Texas Pacific Land | 25.43 Bn | 25.18 Bn | - | 20.53% |
| 10 | Expand Energy | 22.90 Bn | 21.63 Bn | 2.33 Bn | 22.32% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 35.37% |
| Jun 30, 2026 | 35.37% |
| Jun 30, 2026 | 35.37% |
| Mar 31, 2026 | 35.09% |
| Mar 31, 2026 | 35.09% |
| Mar 31, 2026 | 35.09% |
| Dec 31, 2025 | 35.77% |
| Dec 31, 2025 | 35.77% |
| Dec 31, 2025 | 35.77% |
| Sep 30, 2025 | 41.05% |
| Sep 30, 2025 | 41.05% |
| Sep 30, 2025 | 41.05% |
| Jun 30, 2025 | 34.67% |
| Jun 30, 2025 | 34.67% |
| Jun 30, 2025 | 34.67% |
| Mar 31, 2025 | 36.21% |
| Mar 31, 2025 | 36.21% |
| Mar 31, 2025 | 36.21% |
| Dec 31, 2024 | -13.27% |
| Dec 31, 2024 | -13.27% |