ConocoPhillips (COP) FY2019 results: revenue $36.7 billion, down 5.3% on the year
ConocoPhillips (COP) reported revenue of $36.7 billion for fiscal 2019, the year ended 31 December 2019, down 5.3% on the year before. Net income was $7.2 billion, up 14.9%, and diluted earnings per share $6.40. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2020.
Revenue
$36.7 billion
-5.3% on the year
FY2012FY2019
Operating margin
n/a
FY2012FY2019
Net income
$7.2 billion
+14.9% on the year
FY2012FY2019
Diluted EPS
$6.40
+19.4% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
36,670
38,727
32,584
-5.3%
Cost of revenue
11,842
14,294
12,475
-17.2%
Gross profit
24,828
24,433
20,109
+1.6%
Gross margin
67.7%
63.1%
61.7%
Research and development
82.0
78.0
100
+5.1%
Selling, general and administrative
556
401
427
+38.7%
Interest expense
799
838
1,114
-4.7%
Pre-tax income
9,524
9,973
-2,615
-4.5%
Income tax
2,267
3,668
-1,822
-38.2%
Effective tax rate
23.8%
36.8%
n/a
Net income
7,189
6,257
-855
+14.9%
Net margin
19.6%
16.2%
-2.6%
Diluted EPS
$6.40
$5.36 basic
-$0.70
+19.4%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
11,104
12,934
7,077
-14.1%
Capital expenditure
6,636
6,750
4,591
-1.7%
Free cash flow
4,468
6,184
2,486
-27.7%
Free cash flow margin
12.2%
16.0%
7.6%
Cash from investing
-6,618
-3,843
7,762
Cash from financing
-5,229
-9,359
-12,356
Depreciation and amortisation
6,090
5,956
6,845
+2.2%
Share-based compensation
274
265
227
+3.4%
Buybacks
3,500
2,999
3,000
+16.7%
Dividends paid
1,500
1,363
1,305
+10.1%
Dividend per share
$1.34
$1.16
$1.06
+15.5%
Diluted shares, weighted
1,124m
1,176m
1,221m
-4.4%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
34,981
31,939
30,607
+9.5%
Non-controlling interest
69.0
125
194
-44.8%
Debt
18,108
16,147
22,435
+12.1%
Other liabilities
17,356
21,769
20,126
-20.3%
Total liabilities and equity
70,514
69,980
73,362
+0.8%
Fixed assets
42,269
45,698
45,683
-7.5%
Investments
3,028
248
1,873
+1,121.0%
Cash and equivalents
5,088
5,915
6,325
-14.0%
Receivables
3,401
4,067
4,320
-16.4%
Inventory
1,026
1,007
1,060
+1.9%
Other assets
15,702
13,045
14,101
+20.4%
Total assets
70,514
69,980
73,362
+0.8%
10-K for the year ended 31 December 2019, filed 18 February 2020: the filing.