Conocophillips (COP) intrinsic value & 10-year financials
Conocophillips (COP) has a Graham intrinsic value of $68.37 per share. At $146.51 on Oct 17, 2026, the stock trades 114% above that value. Over the last 10 fiscal years revenue grew 9.1% a year to $51.8B, with an average return on invested capital of 10.6%.
- Graham intrinsic value
- $68.37
- Share price (Oct 17, 2026)
- $146.51
- Price vs Graham value
- 114% above
- Market cap
- $183.6B
- Revenue (FY2025)
- $51.8B
- Revenue growth (10-yr CAGR)
- 9.1%
- ROIC (10-yr avg)
- 10.6%
- Free cash flow (FY2025)
- —
COP 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $51.8B | $8.0B | $6.35 | — | — | 9.7% |
| FY2024 | $49.4B | $9.2B | $7.81 | — | — | 12.7% |
| FY2023 | $48.5B | $11.0B | $9.06 | — | — | 18.1% |
| FY2022 | $61.0B | $18.7B | $14.57 | $18.2B | — | 31.5% |
| FY2021 | $45.8B | $8.1B | $0.01 | $11.7B | — | 15.8% |
| FY2020 | $18.8B | -$2.7B | -$0.00 | $87.0M | — | -6.2% |
| FY2019 | $32.6B | $7.2B | $0.01 | $4.5B | — | 16.8% |
| FY2018 | $36.4B | $6.3B | — | $6.2B | — | 15.2% |
| FY2017 | $29.1B | -$855.0M | -$0.00 | $2.5B | — | -1.7% |
| FY2016 | $23.7B | -$3.6B | -$0.00 | -$466.0M | — | -6.3% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
ConocoPhillips is a consistent compounder, expanding top-line revenue at 9.1% annually over the past decade.
ConocoPhillips returns on capital have been average, hovering around 10.6% ROIC over the decade.
ConocoPhillips has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, ConocoPhillips is modeled at 2.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $68.37 per share.