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British integrated oil major producing oil and gas and selling fuels and lubricants (Castrol) through a global retail network.
British integrated oil major producing oil and gas and selling fuels and lubricants (Castrol) through a global retail network.
Earns from oil and gas production, with refining, fuels, lubricants and retail margins alongside. It promised in 2020 to shrink oil output and expand renewables, then reversed course and refocused on oil and gas. It exited its Russian stake in Rosneft in 2022 after the invasion of Ukraine.
In one line: UK's Chevron.
Moat: narrow (scale, distribution, brand). Large integrated upstream-to-retail footprint (Castrol, BP/Aral stations) in a commodity industry.
Headquarters: London, UK · Founded: 1909 · Employees: 93,700
Size Bp PLC (BP..L) is a United Kingdom Energy company (Integrated Oil) with a market value of $116B, the 8th largest of 363 United Kingdom companies the cockpit tracks. Shares closed at £559.40 on 6 Nov 2026.
Performance Over six months the shares gained 2.3%, against +5.4% for the median peer and +3.6% for the United Kingdom market (cap-weighted) — 8th lowest of 19 in its peer set.
Growth Revenue grew 23.0% over the last twelve months (peer median +16.1%); the operating margin is 13.5% (peer median 22.8%).
Valuation It trades at 5.4× forward earnings against a peer median of 8.0× (3rd cheapest of 19).
Price implies For today's price to make sense, revenue must grow about -16% a year for seven years (Req g). Recent delivered growth is +12%, so the hurdle is -28 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 12.0 points above its cost of capital (7.2% WACC).
Credit Bp PLC has 23 bonds outstanding ($18.9B), rated A- by the agencies and trading like A+ at a weighted spread of 84 bp.
Next results Next results expected around 9 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | £177B | £144B | £148B | £169B | £196B |
| Revenue growth | — | -3% | -12% | -14% | — |
| Gross profit | £38.2B | £24.6B | £22.5B | £37.5B | £44.0B |
| EBITDA | £36.8B | £23.7B | £25.1B | £37.3B | £45.3B |
| Net income | £6.69B | £41.7M | £306M | £12.3B | -£2.02B |
| Free cash flow | £17.4B | £8.55B | £9.39B | £14.3B | £23.4B |
| Capital expenditure | £9.52B | £10.0B | £12.0B | £11.5B | £9.80B |
| Total debt | £52.4B | £53.9B | £57.1B | £49.5B | £46.1B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Bp PLC BP..L | $116B | +2% | +23% | 13% | 5.4× | -16.3% |
| Shell SHEL.L | $284B | +18% | +15% | 16% | 7.7× | -10.9% |
| ExxonMobil XOM | $677B | +16% | +21% | 14% | 11.8× | -5.9% |
| Chevron CVX | $415B | +18% | +22% | 15% | 11.4× | -3.0% |
| TotalEnergies TTE.PA | $200B | +2% | +11% | 17% | 7.0× | -15.6% |
| Eni ENI.MI | $82.2B | +6% | +4% | 9% | 8.4× | 0.8% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | BP..L | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -4.3% | -1.2% | 8th lowest of 19 |
| 6-month return | +2.3% | +5.4% | 8th lowest of 19 |
| Distance from 52-week high | -12.4% | -13.5% | 8th highest of 19 |
| Revenue growth (TTM) | +23.0% | +16.1% | 3rd highest of 19 |
| Operating margin | 13.5% | 22.8% | 4th lowest of 19 |
| Forward P/E | 5.4× | 8.0× | 3rd cheapest of 19 |
| Growth the price implies (Req g, 7 yrs) | -16.3% | -11.3% | 4th least demanding of 19 |
| Growth delivered (Del g) | +11.7% | +15.4% | 7th lowest of 19 |
| Hurdle (Req g minus delivered) | -28.0 pp | -27.0 pp | 8th least demanding of 19 |
| ROIC minus cost of capital | +12.0 pp | +8.8 pp | 8th highest of 19 |
| EV / EBITDA | 3.2× | 5.3× | 4th cheapest of 19 |
| Net debt / EBITDA | 0.5× | 0.5× | 10th least indebted of 19 |
| Bond spread | 84 bp | 72 bp | 3rd widest of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Bp PLC BP..L | United Kingdom | $116B | +2% | +23% | 13% | 5.4× | -16.3% | +11.7% |
| Petroleo Brasileiro SA Sponsored ADR PBR | United States | $118B | -9% | +21% | 35% | 3.7× | -19.8% | +11.0% |
| Equinor EQNR.OL | Norway | $102B | +12% | +2% | 33% | 7.2× | -15.4% | +20.7% |
| Canadian Natural Resources CNQ.TO | Canada | $101B | +12% | +18% | 27% | 10.3× | 2.8% | +18.1% |
| CNOOC 600938.SS | China | $141B | -22% | +7% | 46% | 9.0× | -21.8% | +20.6% |
| Suncor Energy SU.TO | Canada | $81.0B | +12% | +27% | 24% | 8.6× | -11.7% | +14.7% |
| EOG Resources EOG | United States | $77.2B | +13% | +17% | 35% | 8.3× | -13.5% | +17.9% |
| TotalEnergies TTE.PA | France | $200B | +2% | +11% | 17% | 7.0× | -15.6% | +9.0% |
| Imperial Oil IMO.TO | Canada | $59.5B | +3% | +19% | 14% | 10.5× | -0.2% | +17.1% |
| Occidental Petroleum OXY | United States | $56.4B | +7% | -11% | 23% | 9.1× | -2.5% | +4.7% |
| Cenovus Energy CVE.TO | Canada | $50.2B | 0% | +12% | 21% | 6.7× | -14.4% | +29.7% |
| Shell SHEL.L | United Kingdom | $284B | +18% | +15% | 16% | 7.7× | -10.9% | +8.1% |
| Devon Energy DVN | United States | $46.4B | -7% | +18% | 24% | 7.6× | 0.9% | +31.5% |
| PetroChina 601857.SS | China | $336B | +4% | -3% | 9% | 12.1× | -5.1% | +8.6% |
| Repsol REP.MC | Spain | $36.2B | +34% | +24% | 13% | 4.7× | -20.1% | +10.5% |
| Chevron CVX | United States | $415B | +18% | +22% | 15% | 11.4× | -3.0% | +14.3% |
| Ecopetrol SA Sponsored ADR EC | United States | $32.6B | +23% | +6% | 22% | 6.5× | -6.7% | +15.9% |
| EQT EQT | United States | $30.9B | -12% | +18% | 42% | 16.0× | -1.9% | +25.7% |
| Oil & Natural Gas ONGC.NS | India | $30.8B | -18% | +7% | 9% | 5.6× | -12.6% | +14.9% |
Bp PLC has 23 bonds outstanding with $18.9B face value. The agencies rate it A-; its bonds trade like A+. Weighted yield 4.18%, a spread of 84 bp over government bonds.