How does ConocoPhillips (COP) make money?

ConocoPhillips (COP) generates revenue primarily from Crude oil product line, which accounted for 66.2% of total revenue in TTM through Q1 2026. The company reported $58.3B in revenue and converted 12.6% of it into net profit, equivalent to roughly $7.32B in net income — what's left after the cost of revenue, operating expenses, interest, and income taxes.

What is the gross profit margin of ConocoPhillips (COP)?

ConocoPhillips (COP) reported a gross profit margin of 29.2% in TTM through Q1 2026, equivalent to $17B in gross profit on $58.3B in revenue. Gross margin measures how much of each dollar of revenue remains after the direct cost of producing or delivering the product — a higher figure typically signals pricing power, scale, or a less capital-intensive business model.

What is the operating profit margin of ConocoPhillips (COP)?

ConocoPhillips (COP) reported an operating profit margin of 18.3% in TTM through Q1 2026, equivalent to $10.7B in operating income. Operating margin captures profitability after research & development, sales & marketing, and general & administrative expenses — but before interest, taxes, and one-off items — and is the cleanest single read on the underlying business's efficiency.

What is the net profit margin of ConocoPhillips (COP)?

ConocoPhillips (COP) reported a net profit margin of 12.6% in TTM through Q1 2026, equivalent to $7.32B in net income. Net margin is the bottom-line share of revenue that survives every expense — operating costs, interest, and income taxes — and is the figure that flows directly into earnings per share.

Is ConocoPhillips (COP) profitable?

Yes. ConocoPhillips (COP) reported $7.32B in net income for TTM through Q1 2026, with a net profit margin of 12.6%. The company earned more from its operations than it paid out in costs, interest, and income taxes, leaving positive earnings on the bottom line.

How much does ConocoPhillips (COP) spend on capital expenditures?

ConocoPhillips (COP) spent $2.59B on capital expenditures (CapEx) during TTM through Q1 2026, roughly 4.4% of total revenue. CapEx represents long-lived investment in property, equipment, data centres, and other physical infrastructure, and is subtracted from operating cash flow to arrive at free cash flow.

How much free cash flow does ConocoPhillips (COP) generate?

ConocoPhillips (COP) generated $15.4B in free cash flow during TTM through Q1 2026, a free-cash-flow margin of 26.4%. Free cash flow is the cash left after capital expenditures and represents the discretionary pool the company can use to pay dividends, repurchase shares, repay debt, or fund acquisitions without raising external capital.

What is the effective tax rate of ConocoPhillips (COP)?

ConocoPhillips (COP) had an effective tax rate of 36.6% in TTM through Q1 2026. The effective rate is the actual share of pre-tax income paid as income taxes and can differ materially from the statutory rate due to foreign earnings mix, tax credits (such as R&D), share-based compensation deductions, and one-off discrete items.

What are the main business segments of ConocoPhillips (COP)?

ConocoPhillips (COP) reports revenue across 4 reportable product segments, led by Crude oil product line at 66.2% of total revenue in TTM through Q1 2026. See the revenue-by-segment table on this page for the full breakdown and how each segment feeds into the income-statement waterfall above.

Where does ConocoPhillips (COP) generate most of its revenue?

Lower 48 is the largest geographic market for ConocoPhillips (COP), accounting for 73.9% of revenue in the most recent annual filing. The complete regional split — including international markets and any Rest-of-World rollup — is shown in the revenue-by-geography table on this page.

How ConocoPhillips Makes Money: 2026 Visual Revenue Map

ConocoPhillips (COP) Income Statement Flow — TTM through Q1 2026

Calculated from the four most recent reported quarters, ending March 31, 2026 (reported April 30, 2026).

ConocoPhillips (COP) Revenue by Product Segment — TTM through Q1 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported segments changed mid-year.

Revenue contribution by product segment for ConocoPhillips (COP), TTM through Q1 2026.
Segment	Revenue (USD)	% of total
Crude oil product line	$38.6B	66.2%
Natural Gas Product Line	$8.54B	14.7%
Other Products	$7.61B	13.1%
Natural Gas Liquids	$3.58B	6.1%
Total	$58.3B	100%

Crude oil product line$38.6B
Natural Gas Product Line$8.54B
Other Products$7.61B
Natural Gas Liquids$3.58B
Total$58.3B

ConocoPhillips (COP) Revenue by Geography — TTM through Q1 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported regions changed mid-year.

Revenue contribution by geographic region for ConocoPhillips (COP), TTM through Q1 2026
Region	Revenue (USD)	% of total
Lower 48	$39.4B	73.9%
CANADA	$6.33B	11.9%
Europe	$1.63B	3.1%
Alaska Segment	$1.52B	2.9%
UNITED KINGDOM	$1.27B	2.4%
NORWAY	$888M	1.7%
Libya	$840M	1.6%
Asia Pacific and Middle East	$501M	0.9%
Other regions	$901M	1.7%
Total	$53.3B	100%

Lower 48
CANADA
Europe
Alaska Segment
UNITED KINGDOM
NORWAY
Libya
Asia Pacific and Middle East
Other regions
Total

Revenue Breakdown — TTM through Q1 2026

In TTM through Q1 2026, ConocoPhillips (COP) reports revenue across 4 reportable product segments; the largest segment was Crude oil product line at 66.2%, followed by Natural Gas Product Line (14.7%) and Other Products (13.1%). Geographically, Lower 48 accounted for 73.9% of revenue, followed by CANADA (11.9%) and Europe (3.1%).

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