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Side-by-side financial comparison of ConocoPhillips (COP) and PG&E Corporation (PCG). Click either name above to swap in a different company.
ConocoPhillips is the larger business by last-quarter revenue ($11.4B vs $6.9B, roughly 1.7× PG&E Corporation). PG&E Corporation runs the higher net margin — 12.9% vs 12.7%, a 0.2% gap on every dollar of revenue. On growth, PG&E Corporation posted the faster year-over-year revenue change (15.0% vs -10.7%). Over the past eight quarters, PG&E Corporation's revenue compounded faster (7.2% CAGR vs -3.8%).
ConocoPhillips Company is an American multinational corporation engaged in hydrocarbon exploration and production. It is based in the Energy Corridor district of Houston, Texas.
Pacific Gas and Electric Company (PG&E) is an American investor-owned utility (IOU). The company is headquartered at Kaiser Center, in Oakland, California. PG&E provides natural gas and electricity to 5.2 million households in the northern two-thirds of California, from Bakersfield and northern Santa Barbara County, almost to the Oregon and Nevada state lines.
COP vs PCG — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $11.4B | $6.9B |
| Net Profit | $1.4B | $885.0M |
| Gross Margin | 54.4% | — |
| Operating Margin | 19.7% | 21.4% |
| Net Margin | 12.7% | 12.9% |
| Revenue YoY | -10.7% | 15.0% |
| Net Profit YoY | -37.5% | 39.6% |
| EPS (diluted) | $1.18 | $0.39 |
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.
| Q1 26 | — | $6.9B | ||
| Q4 25 | $11.4B | $6.8B | ||
| Q3 25 | $13.3B | $6.3B | ||
| Q2 25 | $12.6B | $5.9B | ||
| Q1 25 | $14.5B | $6.0B | ||
| Q4 24 | $12.7B | $6.6B | ||
| Q3 24 | $11.7B | $5.9B | ||
| Q2 24 | $12.7B | $6.0B |
| Q1 26 | — | $885.0M | ||
| Q4 25 | $1.4B | $670.0M | ||
| Q3 25 | $1.7B | $850.0M | ||
| Q2 25 | $2.0B | $549.0M | ||
| Q1 25 | $2.8B | $634.0M | ||
| Q4 24 | $2.3B | $674.0M | ||
| Q3 24 | $2.1B | $579.0M | ||
| Q2 24 | $2.3B | $524.0M |
| Q1 26 | — | — | ||
| 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 26 | — | 21.4% | ||
| Q4 25 | 19.7% | 18.0% | ||
| Q3 25 | 22.0% | 19.3% | ||
| Q2 25 | 23.9% | 18.6% | ||
| Q1 25 | 30.8% | 20.4% | ||
| Q4 24 | 23.3% | 15.4% | ||
| Q3 24 | 27.6% | 17.3% | ||
| Q2 24 | 28.9% | 18.9% |
| Q1 26 | — | 12.9% | ||
| Q4 25 | 12.7% | 9.8% | ||
| Q3 25 | 12.9% | 13.6% | ||
| Q2 25 | 15.6% | 9.3% | ||
| Q1 25 | 19.7% | 10.6% | ||
| Q4 24 | 18.1% | 10.2% | ||
| Q3 24 | 17.6% | 9.7% | ||
| Q2 24 | 18.4% | 8.8% |
| Q1 26 | — | $0.39 | ||
| Q4 25 | $1.18 | $0.29 | ||
| Q3 25 | $1.38 | $0.37 | ||
| Q2 25 | $1.56 | $0.24 | ||
| Q1 25 | $2.23 | $0.28 | ||
| Q4 24 | $1.92 | $0.30 | ||
| Q3 24 | $1.76 | $0.27 | ||
| Q2 24 | $1.98 | $0.24 |
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 | — |
| Total Assets | $121.9B | — |
| Debt / EquityLower = less leverage | 0.35× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $7.0B | $713.0M | ||
| Q3 25 | $6.3B | $404.0M | ||
| Q2 25 | $5.3B | $494.0M | ||
| Q1 25 | $7.2B | $2.0B | ||
| Q4 24 | $6.1B | $940.0M | ||
| Q3 24 | $6.8B | $895.0M | ||
| Q2 24 | $6.0B | $1.3B |
| Q1 26 | — | — | ||
| Q4 25 | $22.4B | $57.4B | ||
| Q3 25 | $22.5B | — | ||
| Q2 25 | $23.1B | — | ||
| Q1 25 | $23.2B | — | ||
| Q4 24 | $23.3B | $53.6B | ||
| Q3 24 | $17.0B | — | ||
| Q2 24 | $17.0B | — |
| Q1 26 | — | — | ||
| Q4 25 | $64.5B | $32.5B | ||
| Q3 25 | $64.9B | $32.0B | ||
| Q2 25 | $65.6B | $31.2B | ||
| Q1 25 | $65.2B | $30.7B | ||
| Q4 24 | $64.8B | $30.1B | ||
| Q3 24 | $49.9B | $26.8B | ||
| Q2 24 | $49.7B | $26.3B |
| Q1 26 | — | — | ||
| Q4 25 | $121.9B | $141.6B | ||
| Q3 25 | $122.5B | $138.2B | ||
| Q2 25 | $122.6B | $136.4B | ||
| Q1 25 | $124.3B | $135.4B | ||
| Q4 24 | $122.8B | $133.7B | ||
| Q3 24 | $96.7B | $132.3B | ||
| Q2 24 | $96.0B | $130.8B |
| Q1 26 | — | — | ||
| Q4 25 | 0.35× | 1.76× | ||
| Q3 25 | 0.35× | — | ||
| Q2 25 | 0.35× | — | ||
| Q1 25 | 0.36× | — | ||
| Q4 24 | 0.36× | 1.78× | ||
| Q3 24 | 0.34× | — | ||
| Q2 24 | 0.34× | — |
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 | — |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 2.99× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $4.3B | $2.0B | ||
| Q3 25 | $5.9B | $2.9B | ||
| Q2 25 | $3.5B | $1.1B | ||
| Q1 25 | $6.1B | $2.8B | ||
| Q4 24 | $4.5B | $1.9B | ||
| Q3 24 | $5.8B | $3.1B | ||
| Q2 24 | $4.9B | $711.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-1.2B | ||
| Q3 25 | — | $-80.0M | ||
| Q2 25 | — | $-2.0B | ||
| Q1 25 | — | $213.0M | ||
| Q4 24 | — | $-896.0M | ||
| Q3 24 | — | $526.0M | ||
| Q2 24 | — | $-1.6B |
| Q1 26 | — | — | ||
| Q4 25 | — | -17.6% | ||
| Q3 25 | — | -1.3% | ||
| Q2 25 | — | -34.0% | ||
| Q1 25 | — | 3.6% | ||
| Q4 24 | — | -13.5% | ||
| Q3 24 | — | 8.9% | ||
| Q2 24 | — | -26.5% |
| Q1 26 | — | — | ||
| Q4 25 | — | 46.4% | ||
| Q3 25 | — | 46.9% | ||
| Q2 25 | — | 52.0% | ||
| Q1 25 | — | 44.0% | ||
| Q4 24 | — | 42.6% | ||
| Q3 24 | — | 43.8% | ||
| Q2 24 | — | 38.4% |
| Q1 26 | — | — | ||
| Q4 25 | 2.99× | 2.93× | ||
| Q3 25 | 3.41× | 3.35× | ||
| Q2 25 | 1.77× | 1.93× | ||
| Q1 25 | 2.15× | 4.49× | ||
| Q4 24 | 1.93× | 2.87× | ||
| Q3 24 | 2.80× | 5.41× | ||
| Q2 24 | 2.11× | 1.36× |
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% |
PCG
| Electric | $5.0B | 72% |
| Other | $1.9B | 28% |
