BP PLC BP

EnergyOil & GasUnited Kingdom

Last close 50.39 USD on Nov 1, 2026, +50.5% year to date

Quant rating

Quant rating A Rank 16 of 113 in Energy

Growth C 59 of 113
Valuation B 39 of 113
Quality B 23 of 113
Revisions A 8 of 113
Momentum B 37 of 113

Wall Street consensus Buy (2.48)Average target 53.35 USD +5.9%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 131.8B
Enterprise value: 185.3B
52-week range: 33.23 – 51.48
3-year range: 26.11 – 51.48
Dividend yield: 4.04%
Beta (5 years): 0.17
Shares outstanding: 15,706M
Next earnings: Oct 30, 2026

About the company

BP p.l.c. is a global integrated oil and gas company. The Company's segments include Gas & low carbon energy, Oil production & operations, Customers & products, and Other businesses & corporate. The gas & low carbon energy includes regions with upstream activities that predominantly produce natural gas, gas trading and its Archaea Energy business. The oil production & operations segment comprises regions with upstream activities that predominantly produce crude oil, including bpx energy. The customers & products segment comprises its customer-focused businesses, which include convenience and retail fuels, electric vehicle (EV) charging, as well as Castrol, aviation, business-to-business (B2B), midstream, and bp bioenergy. It also includes its products businesses, refining and oil trading. The other businesses and corporate also comprise the Company's shipping and treasury functions, and corporate activities worldwide.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	189,335	189,185	210,130	241,392	157,739	–
Revenue growth	0.1%	−10.0%	−13.0%	53.0%	48.9%	12.3%
EPS (basic, normalized)	2.88	3.18	4.78	8.74	3.84	–
EPS growth	−9.4%	−33.5%	−45.3%	127.5%	–	–
Gross margin	27.1%	24.8%	30.5%	28.8%	23.9%	27.0%
Net margin	0.4%	0.4%	7.1%	−0.3%	4.8%	2.5%
ROE	1.5%	1.1%	21.8%	−0.9%	10.3%	6.7%

Balance sheet, last quarter
Cash & short-term investments (mil)	43,053
Current ratio	1.29x
Long-term debt (mil)	60,628
Net debt (mil)	43,983
Total equity (mil)	62,173
Net debt / equity	0.71x
Net debt / EBITDA	1.17x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	189,335	+0.1%	1.0x	37,615	+2.5%	4.9x	2.88	−9.4%	17.5x
2026	238,507	+26.0%	0.8x	54,882	+45.9%	3.4x	7.83	+171.7%	6.4x
2027	224,494	−5.9%	0.8x	46,375	−15.5%	4.0x	5.74	−26.7%	8.8x
2028	207,360	−7.6%	0.9x	38,668	−16.6%	4.8x	4.14	−27.8%	12.2x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	238,507	+0.5%	+7.3%	+7.4%	7.83	+6.7%	+40.6%	+54.2%
2027	224,494	+0.7%	+10.3%	+6.1%	5.74	+12.6%	+39.9%	+41.5%
2028	207,360	+0.5%	+2.0%	−0.7%	4.14	+4.9%	+17.0%	+18.3%

Earnings surprises EPS beat in 3 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	48,880	48,250	48,330	48,088	46,905	47,677	49,250	47,742	53,371	70,114
Sales mean (mil)	55,076	52,925	52,557	47,511	48,998	53,555	50,051	46,677	47,605	64,285
Surprise	−11.2%	−8.8%	−8.0%	+1.2%	−4.3%	−11.0%	−1.6%	+2.3%	+12.1%	+9.1%
EPS reported	0.95	1.02	0.82	0.44	0.53	0.90	0.85	0.60	1.24	2.22
EPS mean	0.98	0.92	0.76	0.47	0.55	0.70	0.79	0.61	0.88	1.79
Surprise	−2.2%	+11.0%	+7.9%	−4.9%	−2.9%	+27.9%	+7.6%	−1.4%	+41.1%	+23.9%

Peer comparison Oil & Gas

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
BP BP PLC	131.8B	1.17x	0.4%	2.26x	6.4x	8.8x	3.4x	4.0x
2222 Saudi Arabian Oil Co	1.67T	0.44x	20.8%	4.00x	13.4x	13.6x	6.9x	6.8x
XOM Exxonmobil Holdings Corp	770.0B	0.43x	8.9%	2.97x	14.2x	15.2x	8.0x	8.1x
CVX Chevron Corporation	465.3B	0.85x	6.7%	2.45x	13.3x	14.9x	6.9x	7.5x
SHEL Shell plc	308.3B	0.73x	6.7%	1.67x	8.5x	10.6x	4.2x	4.7x
TTEF TotalEnergies SE	217.9B	0.73x	7.0%	1.59x	7.6x	8.5x	4.4x	4.8x
Mean		0.72x	8.4%	2.49x	10.6x	12.0x	5.6x	6.0x
Median		0.73x	6.9%	2.35x	10.9x	12.1x	5.6x	5.8x

Technical analysis

1M+13.4%
3M+22.4%
1Y+53.7%
3Y+53.3%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, BP PLC, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	189,335	189,185	210,130	241,392	157,739	105,944
Cost of revenue	137,953	142,273	146,073	171,894	120,004	80,616
Gross profit	51,382	46,912	64,057	69,498	37,735	25,328
Selling, general & administrative expenses	17,494	16,417	16,772	13,449	11,931	10,397
Research & development	570	974	997	585	424	10,280
Depreciation/amortization	17,822	16,622	15,928	14,318	14,805	14,889
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	5,081	6,368	5,545	26,740	−2,927	11,762
Other operating expenses	0	0	0	0	0	0
Operating income	10,415	6,531	24,815	14,406	13,502	−22,000
Net interest income (expense)	−2,031	−87.0	−817	1,109	2,404	−2,321
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−638	338	−249	−110	−679	−567
Net income before taxes	7,746	6,782	23,749	15,405	15,227	−24,888
Provision for taxes	5,677	5,237	8,101	14,928	6,740	−4,159
Minority interest	−1,240	−848	−641	−1,130	−922	424
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	829	697	15,007	−653	7,565	−20,305
Extraordinary items	−774	−316	232	−1,834	–	–
Net income	55.0	381	15,239	−2,487	7,565	−20,305
EBIT, normalized	18,094	13,575	32,034	41,155	11,783	−6,223
EBITDA, normalized	35,916	30,197	47,962	55,473	26,588	8,666
Basic EPS, normalized	2.88	3.18	4.78	8.74	3.84	–

Balance sheet in millions of USD, fiscal years

Balance sheet, BP PLC, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	31,989	34,525	28,591	23,907	26,221	29,527
Receivables	27,624	28,446	32,200	34,946	28,036	19,078
Total inventory	22,499	23,232	22,819	28,081	23,711	16,873
Prepaid expenses	3,422	2,594	2,520	2,092	2,486	1,269
Other current assets	16,252	14,037	17,865	18,662	12,136	6,235
Total current assets	101,786	102,834	103,995	107,688	92,590	72,982
Property, plant & equipment	98,633	100,238	104,719	106,044	112,902	114,836
Goodwill	10,300	14,888	12,472	11,960	12,373	12,480
Intangibles	8,197	9,646	9,991	10,200	6,451	6,093
Long-term investments	21,582	21,324	22,438	23,271	33,527	30,083
Note receivable	4,367	3,776	3,709	2,363	3,615	5,191
Other long-term assets	33,661	29,522	22,970	26,594	25,814	25,989
Total assets	278,526	282,228	280,294	288,120	287,272	267,654
Liabilities
Accounts payable	39,559	41,326	45,440	49,870	39,492	24,521
Payable/accrued	–	–	–	–	–	–
Accrued expenses	7,573	8,192	8,791	8,759	8,346	6,753
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	6,188	7,134	5,934	5,300	7,304	11,292
Other current liabilities	27,261	25,589	25,851	35,089	25,145	17,233
Total current liabilities	80,581	82,241	86,016	99,018	80,287	59,799
Long-term debt	66,341	64,413	57,141	50,193	62,483	70,634
Minority interest	20,948	19,072	15,210	15,437	14,976	14,318
Other liabilities	57,604	57,256	51,644	55,919	54,063	51,653
Total liabilities	225,474	222,982	210,011	220,567	211,809	196,404
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	4,121	4,165	4,475	4,774	5,194	5,362
Additional paid-in capital	14,066	14,031	13,815	13,692	12,745	12,584
Retained earnings (accumulated deficit)	44,027	52,543	65,041	64,118	80,726	76,034
Treasury stock	−8,671	−9,030	−11,323	−12,153	−12,624	−13,224
Other equity	−491	−2,463	−1,725	−2,878	−10,578	−9,506
Total equity	53,052	59,246	70,283	67,553	75,463	71,250
Total liabilities & shareholders' equity	278,526	282,228	280,294	288,120	287,272	267,654

Cash flow statement in millions of USD, fiscal years

Cash flow statement, BP PLC, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	7,746	6,782	23,749	15,405	15,227	−24,888
Depreciation, depletion & amortization	17,822	16,622	15,928	14,318	14,805	14,889
Deferred taxes	–	–	–	–	–	–
Non-cash items	8,223	6,656	3,781	25,885	−3,457	23,242
Changes in working capital	−9,298	−2,763	−11,419	−14,676	−2,963	−1,081
Cash from operations	24,493	27,297	32,039	40,932	23,612	12,162
Investing activities
Capital expenditures	−13,221	−15,297	−14,285	−12,069	−10,887	−12,306
Other investing cash flows	1,717	2,047	−587	−1,644	5,193	4,448
Cash from investing	−11,504	−13,250	−14,872	−13,713	−5,694	−7,858
Financing activities
Financing cash flow items	70.0	2,946	−877	−630	198	12,191
Cash dividends paid	−5,059	−5,003	−4,809	−4,358	−4,304	−6,340
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−10,891	−5,240	−7,673	−23,033	−13,973	−1,895
Cash from financing	−15,880	−7,297	−13,359	−28,021	−18,079	3,956
Foreign exchange effects	246	−511	27.0	−684	−269	379
Net change in cash	−2,645	6,239	3,835	−1,486	−430	8,639
Free cash flow	11,272	12,000	17,754	28,863	12,725	−144

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.