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Side-by-side financial comparison of ConocoPhillips (COP) and KKR & Co. (KKR). Click either name above to swap in a different company.
ConocoPhillips is the larger business by last-quarter revenue ($11.4B vs $5.7B, roughly 2.0× KKR & Co.). KKR & Co. runs the higher net margin — 20.0% vs 12.7%, a 7.3% gap on every dollar of revenue. On growth, KKR & Co. posted the faster year-over-year revenue change (76.1% vs -10.7%). Over the past eight quarters, ConocoPhillips's revenue compounded faster (-3.8% CAGR vs -22.9%).
ConocoPhillips Company is an American multinational corporation engaged in hydrocarbon exploration and production. It is based in the Energy Corridor district of Houston, Texas.
KKR & Co. Inc., also known as Kohlberg Kravis Roberts & Co., is an American global private equity and investment company. As of December 31, 2024, the firm had completed 770 private-equity investments with approximately $790 billion of total enterprise value. Its assets under management (AUM) and fee paying assets under management (FPAUM) were $553 billion and $446 billion, respectively.
COP vs KKR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $11.4B | $5.7B |
| Net Profit | $1.4B | $1.1B |
| Gross Margin | 54.4% | — |
| Operating Margin | 19.7% | 45.3% |
| Net Margin | 12.7% | 20.0% |
| Revenue YoY | -10.7% | 76.1% |
| Net Profit YoY | -37.5% | 1.8% |
| EPS (diluted) | $1.18 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $11.4B | $5.7B | ||
| Q3 25 | $13.3B | $5.5B | ||
| Q2 25 | $12.6B | $5.1B | ||
| Q1 25 | $14.5B | $3.1B | ||
| Q4 24 | $12.7B | $3.3B | ||
| Q3 24 | $11.7B | $4.8B | ||
| Q2 24 | $12.7B | $4.2B | ||
| Q1 24 | $12.3B | $9.7B |
| Q4 25 | $1.4B | $1.1B | ||
| Q3 25 | $1.7B | $900.4M | ||
| Q2 25 | $2.0B | $510.1M | ||
| Q1 25 | $2.8B | $-185.9M | ||
| Q4 24 | $2.3B | $1.1B | ||
| Q3 24 | $2.1B | $600.5M | ||
| Q2 24 | $2.3B | $667.9M | ||
| Q1 24 | $2.6B | $682.2M |
| Q4 25 | 54.4% | — | ||
| Q3 25 | 56.1% | — | ||
| Q2 25 | 59.7% | — | ||
| Q1 25 | 57.3% | — | ||
| Q4 24 | 60.2% | — | ||
| Q3 24 | 59.4% | — | ||
| Q2 24 | 61.6% | — | ||
| Q1 24 | 56.7% | — |
| Q4 25 | 19.7% | 45.3% | ||
| Q3 25 | 22.0% | 39.8% | ||
| Q2 25 | 23.9% | 30.0% | ||
| Q1 25 | 30.8% | 24.8% | ||
| Q4 24 | 23.3% | 50.4% | ||
| Q3 24 | 27.6% | 34.3% | ||
| Q2 24 | 28.9% | 29.0% | ||
| Q1 24 | 30.9% | 14.1% |
| Q4 25 | 12.7% | 20.0% | ||
| Q3 25 | 12.9% | 16.3% | ||
| Q2 25 | 15.6% | 10.0% | ||
| Q1 25 | 19.7% | -6.0% | ||
| Q4 24 | 18.1% | 34.5% | ||
| Q3 24 | 17.6% | 12.5% | ||
| Q2 24 | 18.4% | 16.0% | ||
| Q1 24 | 20.7% | 7.1% |
| Q4 25 | $1.18 | — | ||
| Q3 25 | $1.38 | — | ||
| Q2 25 | $1.56 | — | ||
| Q1 25 | $2.23 | — | ||
| Q4 24 | $1.92 | — | ||
| Q3 24 | $1.76 | — | ||
| Q2 24 | $1.98 | — | ||
| Q1 24 | $2.15 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $7.0B | — |
| Total DebtLower is stronger | $22.4B | — |
| Stockholders' EquityBook value | $64.5B | $30.9B |
| Total Assets | $121.9B | $410.1B |
| Debt / EquityLower = less leverage | 0.35× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $7.0B | — | ||
| Q3 25 | $6.3B | — | ||
| Q2 25 | $5.3B | — | ||
| Q1 25 | $7.2B | — | ||
| Q4 24 | $6.1B | — | ||
| Q3 24 | $6.8B | — | ||
| Q2 24 | $6.0B | — | ||
| Q1 24 | $6.1B | — |
| Q4 25 | $22.4B | — | ||
| Q3 25 | $22.5B | — | ||
| Q2 25 | $23.1B | — | ||
| Q1 25 | $23.2B | — | ||
| Q4 24 | $23.3B | — | ||
| Q3 24 | $17.0B | — | ||
| Q2 24 | $17.0B | — | ||
| Q1 24 | $17.3B | — |
| Q4 25 | $64.5B | $30.9B | ||
| Q3 25 | $64.9B | $29.7B | ||
| Q2 25 | $65.6B | $28.2B | ||
| Q1 25 | $65.2B | $27.5B | ||
| Q4 24 | $64.8B | $23.7B | ||
| Q3 24 | $49.9B | $24.1B | ||
| Q2 24 | $49.7B | $21.7B | ||
| Q1 24 | $49.3B | $21.4B |
| Q4 25 | $121.9B | $410.1B | ||
| Q3 25 | $122.5B | $398.5B | ||
| Q2 25 | $122.6B | $380.9B | ||
| Q1 25 | $124.3B | $372.4B | ||
| Q4 24 | $122.8B | $360.1B | ||
| Q3 24 | $96.7B | $360.7B | ||
| Q2 24 | $96.0B | $348.5B | ||
| Q1 24 | $95.3B | $339.8B |
| Q4 25 | 0.35× | — | ||
| Q3 25 | 0.35× | — | ||
| Q2 25 | 0.35× | — | ||
| Q1 25 | 0.36× | — | ||
| Q4 24 | 0.36× | — | ||
| Q3 24 | 0.34× | — | ||
| Q2 24 | 0.34× | — | ||
| Q1 24 | 0.35× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $4.3B | $-4.9B |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 2.99× | -4.28× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.3B | $-4.9B | ||
| Q3 25 | $5.9B | $2.4B | ||
| Q2 25 | $3.5B | $438.8M | ||
| Q1 25 | $6.1B | $2.5B | ||
| Q4 24 | $4.5B | $-111.7M | ||
| Q3 24 | $5.8B | $1.9B | ||
| Q2 24 | $4.9B | $3.4B | ||
| Q1 24 | $5.0B | $1.5B |
| Q4 25 | 2.99× | -4.28× | ||
| Q3 25 | 3.41× | 2.65× | ||
| Q2 25 | 1.77× | 0.86× | ||
| Q1 25 | 2.15× | — | ||
| Q4 24 | 1.93× | -0.10× | ||
| Q3 24 | 2.80× | 3.12× | ||
| Q2 24 | 2.11× | 5.03× | ||
| Q1 24 | 1.95× | 2.24× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
COP
| Natural Gas Reserves | $2.1B | 18% |
| Physical Gas Contracts | $2.0B | 18% |
| Europe Middle East And North Africa Segment | $1.6B | 14% |
| Natural Gas Product Line | $1.5B | 13% |
| Canada Operating Segment | $1.3B | 12% |
| Alaska Segment | $1.3B | 11% |
| Natural Gas Liquids Reserves | $826.0M | 7% |
| Asia Pacific Operating Segment | $360.0M | 3% |
| Crude Oil Product Line | $236.0M | 2% |
| Related Party | $12.0M | 0% |
| Corporate Segment | $7.0M | 0% |
KKR
| Insurance Segment | $3.5B | 61% |
| Asset Management1 | $703.7M | 12% |
| Transaction Fee | $512.0M | 9% |
| Transaction And Monitoring Fees | $268.7M | 5% |
| Fee Credit | $230.1M | 4% |
| Other | $201.5M | 4% |
| Fixed Annuity | $77.0M | 1% |
| Asset Management Segment | $56.9M | 1% |
| Monitoring Fee | $53.5M | 1% |
| Investment Advice | $40.6M | 1% |
| Fee Related Performance | $33.6M | 1% |
| Interest Sensitive Life | $21.7M | 0% |
| Incentive Fee | $11.0M | 0% |
