Loading institutional data...
Loading institutional data...
Held by 2,368 of 6,047 reporting institutions (100th percentile) — extremely crowded.
Data as of Q2 2026
Loading snapshot...
Loading financials...
Loading valuation...
Loading analysis...
Loading dividends & returns...
Loading capital allocation...
Loading debt & leverage...
Loading performance...
Loading peer comparison...
Loading ownership map...
Loading crowding analysis...
Loading conviction analysis...
Loading buy/sell flow...
Loading ownership trends...
Loading top holders...
Loading top holders...
Ranked against 9 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-06-30.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| XOM | $715.8B | 26.0× | — | 2.1× | -5.0% | — | 8.7% | 11.1% | 9.5% | — | 3,767 |
| CVX | $435.6B | 33.5× | — | 2.3× | -6.8% | 42.8% | 6.5% | 6.6% | 6.6% | — | 4,008 |
| COP | $173.4B | 22.4× | — | 2.9× | 7.7% | 62.1% | 13.6% | 12.4% | 12.2% | — | 2,368 |
| MPC | $136.2B | 36.7× | 14.3× | 1.0× | -4.4% | 10.0% | 3.0% | 23.4% | 8.1% | 2.5× | 1,875 |
| VLO | $131.4B | 60.3× | 24.8× | 1.1× | -5.5% | 4.4% | 1.9% | 9.9% | 7.1% | 0.8× | 1,901 |
| PSX | $118.6B | 27.6× | 35.7× | 0.9× | -7.5% | 12.3% | 3.3% | 15.1% | 9.0% | 4.8× | 2,038 |
| PBF | $10.6B | — | 38.5× | 0.4× | -11.4% | -1.9% | -0.5% | -3.0% | -2.1% | 5.1× | 423 |
| CVI | $6.2B | 229.5× | 12.7× | 0.9× | -5.9% | 4.8% | 0.4% | 3.7% | 1.1% | 2.1× | 221 |
| CLMT | $5.1B | — | 27.8× | 1.2× | -1.2% | 5.9% | -0.8% | 4.6% | -2.3% | 8.2× | 192 |
| DK | $4.8B | — | 10.7× | 0.5× | -9.5% | 5.7% | -0.2% | -4.2% | -0.6% | 3.7× | 290 |
Peers = companies sharing COP's sector (Petroleum Refining) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
Solve the discounted cash flow backwards, then stress-test the assumptions.
Average free cash flow across the last 3 positive fiscal years (FY2023, FY2024, FY2025). Smooths the cycle. Stock compensation is NOT charged — it is added back inside operating cash flow.
To be worth $142.34 today, the market must believe free cash flow compounds -7.7%/yr for a decade (off $19.96B on the 3-yr avg basis).
On the basis ($19.65B) the requirement is -7.5%/yr. Shares issued to employees are added back in operating cash flow, so this basis treats them as free.
The market's -7.7% is more conservative than its 8-yr track record.
Default is 8.1% — this company's computed cost of capital (computed WACC), the same rate the Analysis tab discounts at.
2-stage DCF · 1.22B shares (market data) · net debt -$5.48B
Today's price is outside this grid at every discount rate shown — the assumptions it requires lie beyond the plotted range, which is itself the finding.
mean 1675.5% · volatility σ 4704% · implied rate exceeded in 6/8 yrs
Central path = implied -7.7%/yr growth; shaded band = ±1σ (4704%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
What the company returns to shareholders — and whether it's covered by cash.
The dividend is comfortably covered — only 20% of free cash flow, leaving room to grow it and fund buybacks. Last year: $4.00B dividends + $5.02B buybacks = $9.01B returned on $19.80B FCF.
1 consecutive years of dividend increases · -47%/yr.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Insufficient data. Current ROIC on all capital: 12%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
EOD close · as of 2026-10-14
How a revenue dollar becomes profit — FY2025
Dividends and buybacks are cash paid out, shown here against the same year's profit for scale — not funded from it. This year they exceeded net income, so the ribbons are capped at earnings and understate what was actually returned.
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $58.94B 100.0% | $54.74B 100.0% | $56.14B 100.0% | $78.49B 100.0% | $45.83B 100.0% | $18.78B 100.0% | $36.67B 100.0% | $38.73B 100.0% | $32.58B 100.0% | $24.36B 100.0% |
| Cost of Revenue | $22.32B 37.9% | $20.01B 36.6% | $21.98B 39.1% | $33.97B 43.3% | $18.16B 39.6% | $8.08B 43.0% | $11.84B 32.3% | $14.29B 36.9% | $12.47B 38.3% | $9.99B 41.0% |
| Research & Development | $78.0M 0.1% | $81.0M 0.1% | $81.0M 0.1% | $71.0M 0.1% | $62.0M 0.1% | $75.0M 0.4% | $82.0M 0.2% | $78.0M 0.2% | $100.0M 0.3% | $116.0M 0.5% |
| Selling, General & Admin | $893.0M 1.5% | $1.16B 2.1% | $705.0M 1.3% | $623.0M 0.8% | $719.0M 1.6% | $430.0M 2.3% | $556.0M 1.5% | $401.0M 1.0% | $427.0M 1.3% | $473.0M 1.9% |
| Total Operating Expenses | — | — | — | — | — | — | — | — | — | $29.89B 122.7% |
| Interest Expense | $1.18B 2.0% | $941.0M 1.7% | $824.0M 1.5% | $791.0M 1.0% | $887.0M 1.9% | $788.0M 4.2% | $799.0M 2.2% | $838.0M 2.2% | $1.11B 3.4% | $1.28B 5.3% |
| Interest & Investment Income | $311.0M 0.5% | $402.0M 0.7% | $412.0M 0.7% | $195.0M 0.2% | $33.0M 0.1% | $100.0M 0.5% | $166.0M 0.5% | $97.0M 0.3% | $112.0M 0.3% | $57.0M 0.2% |
| Other Income (Expense), net | -$20.0M -0.0% | -$181.0M -0.3% | -$2.0M -0.0% | $47.0M 0.1% | -$102.0M -0.2% | -$13.0M -0.1% | $1.36B 3.7% | $173.0M 0.4% | $529.0M 1.6% | $255.0M 1.0% |
| Pretax Income | $12.66B 21.5% | $13.67B 25.0% | $16.29B 29.0% | $28.23B 36.0% | $12.71B 27.7% | -$3.14B -16.7% | $9.52B 26.0% | $9.97B 25.8% | -$2.62B -8.0% | -$5.53B -22.7% |
| Income Tax Expense | $4.67B 7.9% | $4.43B 8.1% | $5.33B 9.5% | $9.55B 12.2% | $4.63B 10.1% | -$485.0M -2.6% | $2.27B 6.2% | $3.67B 9.5% | -$1.82B -5.6% | -$1.97B -8.1% |
| Net Income | $7.99B 13.6% | $9.24B 16.9% | $10.96B 19.5% | $18.68B 23.8% | $8.08B 17.6% | -$2.70B -14.4% | $7.19B 19.6% | $6.26B 16.2% | -$855.0M -2.6% | -$3.62B -14.8% |
| Per Share | ||||||||||
| EPS (Basic) | $6.36 | $7.82 | $9.08 | $14.62 | $6.09 | -$2.51 | $6.43 | $5.36 | -$0.70 | -$2.91 |
| EPS (Diluted) | $6.35 | $7.81 | $9.06 | $14.57 | $6.07 | -$2.51 | $6.40 | — | -$0.70 | -$2.91 |
| Weighted Avg Shares (Basic) | 1.25B | 1.18B | 1.20B | 1.27B | 1.32B | 1.08B | 1.1M | 1.2M | 1.2M | 1.2M |
| Weighted Avg Shares (Diluted) | 1.25B | 1.18B | 1.21B | 1.28B | 1.33B | 1.08B | 1.1M | 1.2M | 1.2M | 1.2M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $6.50B covers all $4.76B of scheduled principal — no refinancing pressure. Scheduled principal only (excludes interest & revolver draws). As of 2025-12-31 (10-K).
Insufficient EBITDA/debt history.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest expense isn't separately reported — often netted into “other income (expense), net.” Effective rate ~115.3% on $1.02B of debt.
Cash of $6.50B fully covers short-term debt of $1.02B.
Mostly short-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
EOD close · as of 2026-10-14
Where each multiple sits in its own 14-yr range · 98th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 14-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
ROE 12% against ROIC 12% — 0% of the return on equity comes from leverage and buybacks rather than from the operating business.
What the company owes vs. what it holds
This shows debt/cash structure and net leverage. The year-by-year maturity schedule is on the Debt & Leverage tab.
Latest year: profit growth vs revenue growth
Operating leverage needs meaningful revenue change.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 36.9 | 32.3 | 43.0 | 39.6 | 43.3 | 39.1 | 36.6 | 37.9 |
| R&D | 0.2 | 0.2 | 0.4 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 |
| SG&A | 1.0 | 1.5 | 2.3 | 1.6 | 0.8 | 1.3 | 2.1 | 1.5 |
| Income Tax | 9.5 | 6.2 | -2.6 | 10.1 | 12.2 | 9.5 | 8.1 | 7.9 |
| Net Income | 16.2 | 19.6 | -14.4 | 17.6 | 23.8 | 19.5 | 16.9 | 13.6 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on COP: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
No positive operating income in the last three years, so there is no return on capital to compare against its cost.
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2016 | 59.0% | not reported | -14.8% |
| FY2017 | 61.7% | not reported | -2.6% |
| FY2018 | 63.1% | not reported | 16.2% |
| FY2019 | 67.7% | not reported | 19.6% |
| FY2020 | 57.0% | not reported | -14.4% |
| FY2021 | 60.4% | not reported | 17.6% |
| FY2022 | 56.7% | not reported | 23.8% |
| FY2023 | 60.9% | not reported | 19.5% |
| FY2024 | 63.4% | not reported | 16.9% |
| FY2025 | 62.1% | not reported | 13.6% |
Return on equity (12%) and return on invested capital (12%) are within a couple of points in FY2025, so the headline return is the operating return — there is no meaningful leverage effect to strip out.
No material counter-signal in the checked set: ROIC vs WACC spread, 5-year spread history, gross margin trend, operating margin trend, net margin against 3 years ago, revenue growth, ROIC ex-goodwill gap.
Missing from our data, so excluded from this answer: positive EBIT.
Converts 1.78x of reported profit into cash — adequate, without much margin.
Shares outstanding are up 111964% since FY2019 — per-share cash flow has grown more slowly than the totals above, and the gap is the owners'.
Debt is present but there is no positive EBITDA or no reported interest expense, so coverage cannot be measured.
Ladder as of 2025-12-31 (10-K); cash from the 2025-12-31 balance sheet; FCF from FY2025.
Balance sheet at 2025-12-31. Undrawn revolving credit is not shown: the tag is collected but not yet mapped through to the API.
No material counter-signal in the checked set: net debt / EBITDA, interest coverage, stressed coverage, maturity schedule vs cash and one year of FCF, liquidity ratios.
Missing from our data, so excluded from this answer: ebitda.
At $142.34, free cash flow must compound -7.67%/yr for 10 years. It has done 28.16%/yr over 6 years, though across a reporting-basis change.
| Fiscal year | FCF growth | Price requires |
|---|---|---|
| FY2020 | −98.1% | −7.7% |
| FY2021 | 13316.1% | −7.7% |
| FY2022 | 55.5% | −7.7% |
| FY2023 | 10.0% | −7.7% |
| FY2024 | 0.8% | −7.7% |
| FY2025 | −1.6% | −7.7% |
The achieved growth rate spans a reporting-basis change in FY2020, so part of it measures the restatement rather than the business.
| Step | Amount | Running total |
|---|---|---|
| Net income | $7.99B | $7.99B |
| Share-based comp | $336M | $8.32B |
| Other non-cash & working capital | $11.47B | $19.80B |
| Operating cash flow | $19.80B | $19.80B |
| Capex | $0 | $19.80B |
| Free cash flow | $19.80B | $19.80B |
| FCF after SBC | $19.46B | $19.46B |
| Fiscal year | Revenue growth | Receivables growth | Gap |
|---|---|---|---|
| FY2020 | -48.8% | -23.0% | 25.8 points |
| FY2021 | 144.0% | 188.3% | 44.4 points |
| FY2022 | 71.3% | -0.5% | -71.8 points |
| FY2023 | -28.5% | -15.8% | 12.7 points |
| FY2024 | -2.5% | 22.3% | 24.8 points |
| FY2025 | 7.7% | -18.2% | -25.9 points |
| Fiscal year | DSO | DIO | DPO | Cash conversion cycle |
|---|---|---|---|---|
| FY2019 | 23.6 days | 31.6 days | 97.9 days | -42.7 days |
| FY2020 | 35.5 days | 45.3 days | 120.6 days | -39.8 days |
| FY2021 | 42 days | 24.3 days | 100.5 days | -34.3 days |
| FY2022 | 24.4 days | 13.1 days | 65.7 days | -28.2 days |
| FY2023 | 28.7 days | 23.2 days | not reported | not reported |
| FY2024 | 36 days | 33 days | 110.2 days | -41.3 days |
| FY2025 | 27.3 days | 30.6 days | 101.7 days | -43.7 days |
| Fiscal year | Accruals / assets |
|---|---|
| FY2019 | -5.5 percent |
| FY2020 | -12.0 percent |
| FY2021 | -9.8 percent |
| FY2022 | -10.3 percent |
| FY2023 | -9.4 percent |
| FY2024 | -8.9 percent |
| FY2025 | -9.7 percent |
SBC is added back inside operating cash flow, so reported free cash flow treats shares issued to employees as free. Percent of revenue says how expensive the payroll is; percent of operating cash flow says how much of the cash exists only because the charge was added back. The buyback offset is buybacks over SBC — below 1.0 the repurchase does not cover the shares issued.
Figures are the latest fiscal year (FY2025) from the company's own filings, not a trailing-twelve-month window — Q2 reads fiscal years throughout so the cash-conversion ratios and these share one basis. A blank is a line the filer did not report; it is never read as zero.