ConocoPhillips (COP) FY2018 results: revenue $38.7 billion, up 18.9% on the year
ConocoPhillips (COP) reported revenue of $38.7 billion for fiscal 2018, the year ended 31 December 2018, up 18.9% on the year before. Net income was $6.3 billion, and diluted earnings per share $5.36. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2019.
Revenue
$38.7 billion
+18.9% on the year
FY2011FY2018
Operating margin
n/a
FY2011FY2018
Net income
$6.3 billion
FY2011FY2018
Diluted EPS
$5.36
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
38,727
32,584
24,360
+18.9%
Cost of revenue
14,294
12,475
9,994
+14.6%
Gross profit
24,433
20,109
14,366
+21.5%
Gross margin
63.1%
61.7%
59.0%
Research and development
78.0
100
116
-22.0%
Selling, general and administrative
401
427
473
-6.1%
Operating income
n/a
n/a
-5,530
Operating margin
n/a
n/a
-22.7%
Interest expense
838
1,114
1,279
-24.8%
Pre-tax income
9,973
-2,615
-5,530
Income tax
3,668
-1,822
-1,971
Effective tax rate
36.8%
n/a
n/a
Net income
6,257
-855
-3,615
Net margin
16.2%
-2.6%
-14.8%
Diluted EPS
$5.36 basic
-$0.70
-$2.91
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
12,934
7,077
4,403
+82.8%
Capital expenditure
6,750
4,591
4,869
+47.0%
Free cash flow
6,184
2,486
-466
+148.8%
Free cash flow margin
16.0%
7.6%
-1.9%
Cash from investing
-3,843
7,762
-3,859
Cash from financing
-9,359
-12,356
764
Depreciation and amortisation
5,956
6,845
9,062
-13.0%
Share-based compensation
265
227
272
+16.7%
Buybacks
2,999
3,000
126
-0.0%
Dividends paid
1,363
1,305
1,253
+4.4%
Dividend per share
$1.16
$1.06
$1.00
+9.4%
Diluted shares, weighted
1,176m
1,221m
1,245m
-3.7%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
31,939
30,607
34,974
+4.4%
Non-controlling interest
125
194
252
-35.6%
Debt
16,147
22,435
27,275
-28.0%
Other liabilities
21,769
20,126
27,271
+8.2%
Total liabilities and equity
69,980
73,362
89,772
-4.6%
Fixed assets
45,698
45,683
58,331
+0.0%
Investments
248
1,873
50.0
-86.8%
Cash and equivalents
5,915
6,325
3,610
-6.5%
Receivables
4,067
4,320
3,414
-5.9%
Inventory
1,007
1,060
1,018
-5.0%
Other assets
13,045
14,101
23,349
-7.5%
Total assets
69,980
73,362
89,772
-4.6%
10-K for the year ended 31 December 2018, filed 19 February 2019: the filing.