ConocoPhillips vs YPF Sociedad Anonima, two Oil & Gas Refining stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
The margin gap is a chasm this year: ConocoPhillips nets a healthy double-digit-adjacent margin from disciplined US and global E&P, while YPF, Argentina's state-influenced integrated, posts a negative 4.3% net margin and negative 7.2% return on equity through macro and restructuring turbulence. Conoco earns 11.3% on equity and pays a 3% dividend at 17.9 times earnings; YPF has no usable multiple and pays nothing displayed. Both carry near-zero net debt, and both show large free-cash figures, Conoco's 13.9% real, YPF's 27.9% a suppressed-denominator artifact. The pair prices operational discipline against sovereign-tinged difficulty; one page is a functioning E&P franchise, the other an option on Argentina's normalization.
Comparison updated 2026-07-11.
| Metric | COP | YPF |
|---|---|---|
| Price | $105.80 | $45.38 |
| Market cap | $129.6B | $17.8B |
| Sector | Oil & Gas Refining | Oil & Gas Refining |
| Stage | Cyclical | Cyclical |
| Implied growth (priced in) | — | +2.1% |
| P/E | 17.9 | — |
| P/B | 2.01 | 1.61 |
| P/S | 2.23 | 0.96 |
| EV/EBITDA | 10.7 | 9.7 |
| Revenue growth | +1.9% | +9.1% |
| Gross margin | — | 27.6% |
| Operating margin | — | 9.4% |
| Net margin | 12.6% | -4.3% |
| Return on equity | 11.3% | -7.2% |
| Return on assets | 6.0% | -2.7% |
| Return on invested capital | — | 12.4% |
| FCF yield | 13.9% | 27.9% |
| Dividend yield | 3.0% | — |
| Debt / equity | 0.02 | 0.00 |
| Current ratio | 1.29 | 0.87 |
| Altman Z (solvency) | 2.64 | 1.36 |
| Piotroski F (quality) | 8 / 9 | 4 / 9 |
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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.