ConocoPhillips (COP) FY2020 results: revenue $18.8 billion, down 48.8% on the year
ConocoPhillips (COP) reported revenue of $18.8 billion for fiscal 2020, the year ended 31 December 2020, down 48.8% on the year before. Net income was -$2.7 billion, and diluted earnings per share $-2.51. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2021.
Revenue
$18.8 billion
-48.8% on the year
FY2013FY2020
Operating margin
n/a
FY2013FY2020
Net income
-$2.7 billion
FY2013FY2020
Diluted EPS
-$2.51
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
18,784
36,670
38,727
-48.8%
Cost of revenue
8,078
11,842
14,294
-31.8%
Gross profit
10,706
24,828
24,433
-56.9%
Gross margin
57.0%
67.7%
63.1%
Research and development
75.0
82.0
78.0
-8.5%
Selling, general and administrative
430
556
401
-22.7%
Interest expense
788
799
838
-1.4%
Pre-tax income
-3,140
9,524
9,973
Income tax
-485
2,267
3,668
Effective tax rate
n/a
23.8%
36.8%
Net income
-2,701
7,189
6,257
Net margin
-14.4%
19.6%
16.2%
Diluted EPS
-$2.51
$6.40
$5.36 basic
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
4,802
11,104
12,934
-56.8%
Capital expenditure
4,715
6,636
6,750
-28.9%
Free cash flow
87.0
4,468
6,184
-98.1%
Free cash flow margin
0.5%
12.2%
16.0%
Cash from investing
-4,121
-6,618
-3,843
Cash from financing
-2,708
-5,229
-9,359
Depreciation and amortisation
5,521
6,090
5,956
-9.3%
Share-based compensation
159
274
265
-42.0%
Buybacks
892
3,500
2,999
-74.5%
Dividends paid
1,831
1,500
1,363
+22.1%
Dividend per share
$1.69
$1.34
$1.16
+26.1%
Diluted shares, weighted
1,078m
1,124m
1,176m
-4.1%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
29,849
34,981
31,939
-14.7%
Non-controlling interest
0.0
69.0
125
Debt
19,106
18,108
16,147
+5.5%
Other liabilities
13,663
17,356
21,769
-21.3%
Total liabilities and equity
62,618
70,514
69,980
-11.2%
Fixed assets
39,893
42,269
45,698
-5.6%
Investments
3,826
3,028
248
+26.4%
Cash and equivalents
2,991
5,088
5,915
-41.2%
Receivables
n/a
3,401
4,067
Inventory
1,002
1,026
1,007
-2.3%
Other assets
14,906
15,702
13,045
-5.1%
Total assets
62,618
70,514
69,980
-11.2%
10-K for the year ended 31 December 2020, filed 16 February 2021: the filing.