BP PLC vs ConocoPhillips, two Oil & Gas Refining stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
BP is an integrated major mid-pivot, upstream, refining, and a transition portfolio it keeps re-explaining; ConocoPhillips is a pure exploration-and-production shop that never diversified and never apologized for it. The focus shows in returns: Conoco earns 11.3% on equity and 6% on assets against BP's 1.8% and 0.5%, the E&P model out-earning the integrated one in this stretch. BP's trailing net margin of 0.7% carries impairment weight; its 24.1% free-cash figure is what the underlying business still throws off beneath the write-downs. Conoco pays a 3% dividend and trades at 17.9 times earnings, near-debt-free; BP has no clean multiple. The pair prices strategic clarity against strategic apology, and clarity is winning the income statement.
Comparison updated 2026-07-11.
| Metric | BP | COP |
|---|---|---|
| Price | $37.12 | $105.80 |
| Market cap | $101.5B | $129.6B |
| Sector | Oil & Gas Refining | Oil & Gas Refining |
| Stage | Cyclical | Cyclical |
| P/E | — | 17.9 |
| P/B | 1.37 | 2.01 |
| P/S | 0.53 | 2.23 |
| EV/EBITDA | 2.1 | 10.7 |
| Revenue growth | +6.9% | +1.9% |
| Operating margin | 6.6% | — |
| Net margin | 0.7% | 12.6% |
| Return on equity | 1.8% | 11.3% |
| Return on assets | 0.5% | 6.0% |
| Return on invested capital | 13.5% | — |
| FCF yield | 24.1% | 13.9% |
| Dividend yield | — | 3.0% |
| Debt / equity | 0.00 | 0.02 |
| Current ratio | 1.26 | 1.29 |
| Altman Z (solvency) | 1.23 | 2.64 |
| Piotroski F (quality) | 8 / 9 | 8 / 9 |
Each week boothcheck ranks the stocks whose prices are betting on the most. Read the most stretched bets archive →
boothcheck is also on Android. Get the app on Google Play →
The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.