As of Jul 24, 2026, the COP stock has a P/E ratio of 20.38. The calculation is based on the latest EPS of $5.9 and the stock price of $120.26 per share. An increase of 30% has been observed in the PE ratio compared to its average of 15.6 of the past four quarters.
COP PE ratio history
The mean historical PE ratio of Conoco Phillips over the last nine years is 13.89. The current 20.38 price-to-earnings ratio is 47% more than the historical average. Analyzing the last nine years, COP's PE ratio reached its highest point in the Jun 2021 quarter at 52.5, with a price of $60.9 and an EPS of $1.16. The Sep 2022 quarter saw the lowest point at 7.34, with a price of $102.34 and an EPS of $13.94.
Conoco Phillips PE ratio by year
Maximum annual increase: 58.36% in 2023
Maximum annual decrease: -31.9% in 2022
| Year | PE ratio | PE change | Price | EPS |
|---|---|---|---|---|
| 2025 | 14.72 | 16.09% | $93.61 | $6.36 |
| 2024 | 12.68 | -0.78% | $99.17 | $7.82 |
| 2023 | 12.78 | 58.36% | $116.07 | $9.08 |
| 2022 | 8.07 | -31.9% | $118 | $14.62 |
| 2021 | 11.85 | N/A | $72.18 | $6.09 |
| 2020 | N/A | N/A | $39.99 | -$2.51 |
| 2019 | 10.11 | -13.07% | $65.03 | $6.43 |
| 2018 | 11.63 | N/A | $62.35 | $5.36 |
| 2017 | N/A | N/A | $54.89 | -$0.7 |
| 2016 | N/A | N/A | $50.14 | -$2.91 |
| 2015 | N/A | N/A | $46.69 | -$3.58 |
| 2014 | 12.47 | 31.13% | $69.06 | $5.54 |
| 2013 | 9.51 | 10.97% | $70.65 | $7.43 |
| 2012 | 8.57 | 6.33% | $57.99 | $6.77 |
| 2011 | 8.06 | -9.13% | $72.87 | $9.04 |
Conoco Phillips PE ratio by quarter (TTM)
| Year | PE ratio | PE change | Price | EPS |
|---|---|---|---|---|
| Mar 2026 | 22.37 | 51.97% | $132 | $5.9 |
| Dec 2025 | 14.72 | 10.01% | $93.61 | $6.36 |
| Sep 2025 | 13.38 | 11.22% | $94.59 | $7.07 |
| Jun 2025 | 12.03 | -9.62% | $89.74 | $7.46 |
| Mar 2025 | 13.31 | 4.97% | $105.02 | $7.89 |
| Dec 2024 | 12.68 | 1.68% | $99.17 | $7.82 |
| Sep 2024 | 12.47 | -1.89% | $105.28 | $8.44 |
| Jun 2024 | 12.71 | -11.61% | $114.38 | $9 |
| Mar 2024 | 14.38 | 12.52% | $127.28 | $8.85 |
| Dec 2023 | 12.78 | -1.77% | $116.07 | $9.08 |
| Sep 2023 | 13.01 | 31.15% | $119.8 | $9.21 |
| Jun 2023 | 9.92 | 25.73% | $103.61 | $10.44 |
| Mar 2023 | 7.89 | -2.23% | $99.21 | $12.58 |
| Dec 2022 | 8.07 | 9.95% | $118 | $14.62 |
| Sep 2022 | 7.34 | -0.68% | $102.34 | $13.94 |
COP Price vs fair value
COP average PE ratio chart
What this chart measures
The Historical Valuation Regime chart shows where the stock's current valuation sits relative to its own historical valuation range over the selected lookback period.
This is a history-relative tool, not a market-relative percentile. It does not compare the stock to other companies. Instead, it compares each historical valuation reading to the stock's own past readings.
Percentile logic
The threshold lines are calculated them from the stock's real historical values using percentile interpolation. That is why some colored bands are narrow while others are wide: the band widths reflect how the stock actually traded through time.
Regime map
| Historical percentile | Regime | Chart meaning |
|---|---|---|
| 0-10 | Historically Low | Deep cheap zone |
| >10-25 | Below Average | Cheap relative to history |
| >25-75 | Average | Within the normal historical range |
| >75-90 | Above Average | Expensive relative to history |
| >90-100 | Historically High | Extreme or stretched valuation |
How to read each part
| Chart element | What it tells you |
|---|---|
| Main line | The actual historical valuation values over time for the selected metric. |
| Dashed horizontal lines | The stock's computed P10, P25, Median, P75, and P90 thresholds for the selected period. |
| Colored bands | The historical valuation zones between those thresholds. |
| Metric boxes | Current ratio, historical median, current percentile, and current regime. |
| Timeline strip | A condensed regime history showing how the stock moved between cheap, fair, and expensive states across each observation. |
Important metric definitions
Current Percentile is the percentile rank of the latest valid historical observation within the selected lookback range.
Current Regime is assigned directly from the latest observation's percentile bucket using the fixed 10 / 25 / 75 / 90 cutoffs shown above.
How to use it well
This chart is most useful for answering a narrow question: Is this stock trading high, low, or normal relative to its own history? It works best alongside growth, profitability, and forward-looking business analysis, because a stock can deserve a higher or lower regime if its business quality has changed.
The current PE ratio of COP is above its 3, 5 and 10-year averages.
PE comparison
With a price to earnings (P/E) of 20.38, COP stands higher than the Energy sector and the industry average but lower than its peers average. Looking at the Energy sector average of 17.38, Conoco Phillips's price to earnings (P/E) is 17% higher.
COP PE vs peers
COP's PE ratio is less than its peer stocks XOM and CVX, but it is above DVN's. Conoco Phillips is currently trading at a lower PE ratio (20.38) than its peers average of 26.95.
| Stock name | PE ratio | Market cap |
|---|---|---|
| DVN Devon Energy Corp | 12.48 | $27.99B |
| COP Conoco Phillips | 20.38 | $146.51B |
| XOM Exxon Mobil Corp | 26.42 | $650.51B |
| CVX Chevron Corp | 33.82 | $387.94B |
| BP BP plc | 35.06 | $120.65B |
| MUR Murphy Oil Corp | 64.92 | $5.58B |
Frequently asked questions
What is Conoco Phillips's PE ratio?
COP's price to earnings ratio is 20.38 as of Jul 24, 2026.
What is the 3-year average PE ratio for Conoco Phillips (COP)?
As an average over the last 3 years, COP stock has a PE ratio of 13.99.
What is the 5-year average PE ratio for Conoco Phillips (COP)?
As an average over the last 5 years, COP stock has a PE ratio of 12.46.
What is the highest PE ratio for COP?
Over the last nine years, the Jun 2021 quarter recorded the highest quarterly PE ratio at 52.5.
How does the current PE ratio for COP compare to its historical average?
COP's current price to earnings ratio is 47% above its 9-year historical average.
How is COP's PE ratio calculated (Conoco Phillips PE ratio formula)?
The P/E ratio is calculated by dividing the latest price of a stock by its trailing twelve months EPS. As of today (Jul 24, 2026), Conoco Phillips's share price is $120.26. The company's earnings per share for the trailing twelve months (TTM) ending Mar 2026 is $5.9. Therefore, Conoco Phillips's price to earnings ratio for today is 20.38. PE RATIO(20.38) = STOCK PRICE($120.26) / TTM EPS($5.9)
All PE ratio stats are based on quarterly TTM periods, unless otherwise specified.