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ConocoPhillips operates as a premier, large-scale cyclical E&P producer with a highly competitive low-cost asset base. Following peak conditions in 2022, near-term estimates reflect cyclical normalization; however, the company generates robust free cash flow capable of sustaining meaningful shareholder distributions even during mid-cycle environments. Fair value range: low $127, high $218, with mid-point at $169.
Stock analysis

COP fair value $127–$218

By StockMarketAgent.AI team· supervised by
Przeanalizowano: 2026-05-09Następna aktualizacja: 2026-08-09Methodology v2.5Review: automatedArchetype: Cyclical
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Cena
$113.87
▲ +54.72 (+48.05%)
Wartość godziwa
$169
$127–$218
Rekomendacja
Zdecydowanie kupuj
confidence 88/100
Potencjał wzrostu
+48.0%
upside to fair value
Margines Bezpieczeństwa
$143.30
MoS level · 15%
Kapitalizacja
$138.7B
P/E fwd 13.1
Awaryjny angielskiPL
Pokazujemy źródło angielskie podczas tłumaczenia
Ten raport nie został jeszcze przetłumaczony. Odśwież za kilka minut, gdy kolejka tłumaczeń go przetworzy.

§1 Podsumowanie wykonawcze

  • Strong cash floor mitigates cyclical downside.
  • Undervalued relative to long-term free cash flow potential.
  • Disciplined capital return program provides a robust yield.
Fair value
$169
Margin of safety
+32.5%
Confidence
88/100
Moat
6.5/10

Educational research only - not investment advice, an offer, or a trade instruction. Confirm current data and do your own due diligence before acting.

$113.87Price
Low $126.83
Mid $168.59
High $218.44

ConocoPhillips operates as a premier, large-scale cyclical E&P producer with a highly competitive low-cost asset base. Following peak conditions in 2022, near-term estimates reflect cyclical normalization; however, the company generates robust free cash flow capable of sustaining meaningful shareholder distributions even during mid-cycle environments.

  • Low-cost unconventional asset base in
    Low-cost unconventional asset base in Tier 1 basins.
  • Scale advantages driving operational efficiencies
    Scale advantages driving operational efficiencies and capital flexibility.
  • Cycle upside
    Structural underinvestment in conventional supply combined with resilient global demand creates prolonged elevated commodity prices.

§2 Scenariusz negatywny

Accelerating energy transition dynamics and macroeconomic headwinds depress long-term oil and gas prices. Elevated capital requirements to combat natural decline rates severely compress free cash flowFree cash flowOperating cash flow minus capital expenditures. The cash a business generates after maintaining and growing its asset base — the closest accounting proxy for owner-economics. and terminal valuation multiples, threatening the sustainability of shareholder returns.

Jak ta teza może się załamać

Demand Destruction

· High

Permanent structural demand destruction driving long-term realized oil prices persistently below $50/bbl.

FV impact
-30%
Trigger
3-5 Years

Capital Inflation

· Medium

Severe cost inflation on capital expenditures eroding free cash flow margins despite stable commodity prices.

FV impact
-20%
Trigger
1-2 Years

Regulatory Impairment

· Low

Aggressive regulatory actions or carbon taxes materially impairing the economic viability of core assets.

FV impact
-25%
Trigger
5+ Years
Sygnały wczesnego ostrzegania do monitorowania
WskaźnikBieżącyPróg wyzwalania
Consecutive quarters of declining free cash flow conversion.MonitorDeterioration versus the report thesis
Unplanned increases in capital expenditure guidance without corresponding production growth.MonitorDeterioration versus the report thesis
Sustained widening of benchmark differentials impacting realized pricing.MonitorDeterioration versus the report thesis
Reduction or suspension of the variable dividend component or share buyback program.MonitorDeterioration versus the report thesis
Material deterioration in the Return on Invested Capital (ROIC) trend below 10%.MonitorDeterioration versus the report thesis

§3 Historia finansowa

Rachunek zysków i strat — ostatnich sześć okresów
PozycjaT−0T−1T−2T−3T−4CAGR
Okres2021-12-312022-12-312023-12-312024-12-312025-12-31Trend
Przychody$45.83B$78.49B$56.14B$54.75B$58.94B+6.5%
Zysk brutto$14.77B$30.01B$18.20B$16.38B$14.79B+0.0%
Zysk operacyjny$12.07B$25.46B$15.03B$12.78B$11.34B-1.5%
Zysk netto$8.08B$18.68B$10.96B$9.25B$7.99B-0.3%
EPS (rozwodniony)—$14.57$9.06$7.81$6.35-18.7%
EBITDA$21.09B$37.13B$25.78B$24.43B$25.57B+4.9%
R&D——————
SG&A$719.0M$623.0M$705.0M$1.16B$893.0M+5.6%

Wyniki jakości

OCF / Zysk netto
2.48×
>1 wskazuje wysoką jakość wyników
Bramka jakości księgowej
Fail
Bramka skorygowana o sektor
ROIC
12.5%
Zwrot z zainwestowanego kapitału
Sekcja 3

Numbers analysis

Przepływy pieniężne

Cash-flow quality is reflected in the OCFOperating cash flowCash generated from the company's core operations after working-capital changes but before capital expenditures. The first line of the cash-flow statement. / net incomeNet IncomeNet Income is an income-statement line item used to reconcile revenue to operating profit, pre-tax income, net income, or per-share earnings. It should be compared across periods and against peer disclosure conventions., accounting-quality, and ROICROICReturn on invested capital. Operating profit (after tax) divided by invested capital. The single best gauge of capital-efficiency. Spread over WACC = economic value created. rows above.

Alokacja kapitału

Capital allocation should be evaluated against reinvestment needs, balance-sheet strength, and shareholder returns.

Subskrybenci indywidualni — od §411 kolejnych sekcji

Przeczytaj pełną analizę — 11 kolejnych sekcji.

Competitive moat, industry cycle, peer comparison, intrinsic valuation, sensitivity, scenarios, earnings decision tree, position management, investor perspectives, scorecard, and final recommendation.

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MARGINS FAQ

COP margins questions

  1. COP (COP)'s margin set covers gross margin, operating margin, net margin, and free-cash-flow margin. The five-year trajectory is plotted so the reader can separate cyclical noise from secular trend.

FAQ

COP — frequently asked questions

  1. Based on our latest analysis, COP looks meaningfully undervalued. The current price is $114 versus a composite fair-value midpoint of $169 (range $127–$218), which implies roughly 48.0% upside to the midpoint.

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