BP
BP · NYSEPetroleum Refining · Fiscal year ends Dec 31
BP reported revenue of $193B in the fiscal year ended Dec 2025, down 1.1% from the year before. Operating income was $12.6B, an operating margin of 6.6%, and net income was $1.3B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | $164B | $249B | $213B | $195B | $193B |
| Research & development | $266M | $274M | $298M | $301M | $274M |
| Operating income | $18.1B | $18B | $27.3B | $11.3B | $12.6B |
| Interest expense | $2.9B | $2.7B | $3.8B | $4.7B | $5.1B |
| Pre-tax income | $15.2B | $15.4B | $23.7B | $6.8B | $7.7B |
| Income tax | $6.7B | $16.8B | $7.9B | $5.6B | $6.5B |
| Net income | $8.5B | −$1.4B | $15.9B | $1.2B | $1.3B |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $30.7B | $29.2B | $33B | $39.2B | $36.6B |
| Receivables | $27.1B | $34B | $31.1B | $27.1B | $26B |
| Inventory | $23.7B | $28.1B | $22.8B | $23.2B | $22.5B |
| Current assets | $92.6B | $108B | $104B | $103B | $102B |
| Net PP&E | $113B | $106B | $105B | $100B | $98.6B |
| Goodwill | $12.4B | $12B | $12.5B | $14.9B | $10.3B |
| Total assets | $287B | $288B | $280B | $282B | $279B |
| Payables | $52.6B | $64B | $61.2B | $58.4B | $56.8B |
| Current liabilities | $80.3B | $99B | $86.1B | $82.2B | $80.6B |
| Total liabilities | $197B | $205B | $195B | $204B | $205B |
| Shareholders' equity | $75.5B | $67.6B | $70.3B | $59.2B | $53.1B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $23.6B | $40.9B | $32B | $27.3B | $24.5B |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 51.6% | −14.4% | −8.6% | −1.1% |
| Operating income growth (YoY) | – | −0.2% | 51.6% | −58.7% | 11.9% |
| Operating margin | 11.0% | 7.2% | 12.8% | 5.8% | 6.6% |
| Net margin | 5.2% | −0.5% | 7.5% | 0.6% | 0.7% |
| Return on equityBlank when equity is negative | 11.2% | −2.0% | 22.6% | 2.1% | 2.4% |
| ROCEEBIT ÷ (assets − current liabilities) | 8.7% | 9.5% | 14.1% | 5.6% | 6.4% |
| Cash conversion (CFO ÷ net income) | 2.78x | −30.2x | 2.02x | 22.2x | 18.9x |
| Receivable days | 60 | 50 | 53 | 51 | 49 |
| Interest cover | 6.33x | 6.67x | 7.12x | 2.41x | 2.48x |
| Current ratio | 1.15x | 1.09x | 1.21x | 1.25x | 1.26x |
Recent filings
More in Petroleum Refining
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.