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Conocophillips vs Plains GP: revenue, profit, margins and growth compared

Conocophillips brought in $58.9B of revenue in fiscal 2025, Plains GP $44.3B in fiscal 2025. Revenue changed by +7.7% at Conocophillips and -9.5% at Plains GP on the year before, so Conocophillips grew faster. Conocophillips kept 13.6% of its revenue as net profit, Plains GP 0.6%.

Side by side, latest fiscal year

COPPAGP
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$58.9B$44.3B
Revenue growth+7.7%-9.5%
Net income$8B$260M
Net margin13.6%0.6%
Free cash flown/a$2.3B
Free cash flow marginn/a5.2%
Earnings per share (diluted)$6.35n/a
Cash$6.5B$329M
Debt$22.4B$1.1B
Price to earnings20.1n/a
Market value$152.9B$5.3B
Dividend yield2.50%n/a
Rank by revenue in sector#7 of 129 · Energy#8 of 129 · Energy

Over the years

Revenue
COP FY2018: $38.7BCOP FY2019: $36.7BCOP FY2020: $18.8BCOP FY2021: $45.8BCOP FY2022: $78.5BCOP FY2023: $56.1BCOP FY2024: $54.7BCOP FY2025: $58.9BPAGP FY2018: $34.1BPAGP FY2019: $33.7BPAGP FY2020: $23.3BPAGP FY2021: $42.1BPAGP FY2022: $57.3BPAGP FY2023: $47.3BPAGP FY2024: $48.9BPAGP FY2025: $44.3BFY18FY19FY20FY21FY22FY23FY24FY25
COP $58.9BPAGP $44.3B
Net income
COP FY2018: $6.3BCOP FY2019: $7.2BCOP FY2020: -$2.7BCOP FY2021: $8.1BCOP FY2022: $18.7BCOP FY2023: $11BCOP FY2024: $9.2BCOP FY2025: $8BPAGP FY2018: $334MPAGP FY2019: $331MPAGP FY2020: -$568MPAGP FY2021: $60MPAGP FY2022: $168MPAGP FY2023: $198MPAGP FY2024: $103MPAGP FY2025: $260MFY18FY19FY20FY21FY22FY23FY24FY25
COP $8BPAGP $260M
Net margin
COP FY2018: 16.2%COP FY2019: 19.6%COP FY2020: -14.4%COP FY2021: 17.6%COP FY2022: 23.8%COP FY2023: 19.5%COP FY2024: 16.9%COP FY2025: 13.6%PAGP FY2018: 1.0%PAGP FY2019: 1.0%PAGP FY2020: -2.4%PAGP FY2021: 0.1%PAGP FY2022: 0.3%PAGP FY2023: 0.4%PAGP FY2024: 0.2%PAGP FY2025: 0.6%FY18FY19FY20FY21FY22FY23FY24FY25
COP 13.6%PAGP 0.6%
Revenue growth
COP FY2019: -5.3%COP FY2020: -48.8%COP FY2021: +144.0%COP FY2022: +71.3%COP FY2023: -28.5%COP FY2024: -2.5%COP FY2025: +7.7%PAGP FY2019: -1.1%PAGP FY2020: -30.8%PAGP FY2021: +80.7%PAGP FY2022: +36.3%PAGP FY2023: -17.4%PAGP FY2024: +3.3%PAGP FY2025: -9.5%FY19FY20FY21FY22FY23FY24FY25
COP +7.7%PAGP -9.5%
Free cash flow
COP FY2018: $6.2BCOP FY2019: $4.5BCOP FY2020: $87MCOP FY2021: $11.7BCOP FY2022: $18.2BPAGP FY2018: $970MPAGP FY2019: $1.3BPAGP FY2020: $772MPAGP FY2021: $1.7BPAGP FY2022: $1.9BPAGP FY2023: $2.3BPAGP FY2024: $2BPAGP FY2025: $2.3BFY18FY19FY20FY21FY22FY23FY24FY25
COP $18.2BPAGP $2.3B

Fiscal years as each company reports them; the two may end in different months.

Questions about Conocophillips and Plains GP

Which is bigger by revenue, Conocophillips or Plains GP?

Conocophillips is bigger by revenue: $58.9B in fiscal 2025, against $44.3B for Plains GP in fiscal 2025.

Which keeps more of its revenue as profit, Conocophillips or Plains GP?

Conocophillips had a net margin of 13.6% in fiscal 2025; Plains GP had 0.6% in fiscal 2025.

Which grew revenue faster, Conocophillips or Plains GP?

In their latest fiscal years revenue changed by +7.7% at Conocophillips and -9.5% at Plains GP.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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