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BP
(NYSE:BP)
BP (BP) vs. SPDR S&P 500 ETF (SPY)
BP Business Overview & Revenue Model
BP Key Performance Indicators (KPIs)
Breaks down sales by product type, revealing which offerings are most popular and where there might be opportunities for expansion or risk of decline.
The FlyBP Earnings Call Summary
BP Financial Statement Overview
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 189.34B | 189.19B | 210.13B | 241.39B | 157.74B |
| Gross Profit | 33.53B | 30.24B | 48.07B | 55.10B | 22.86B |
| EBITDA | 31.07B | 28.74B | 43.50B | 32.35B | 32.55B |
| Net Income | 55.00M | 381.00M | 15.24B | -2.49B | 7.57B |
Balance Sheet | |||||
| Total Assets | 278.53B | 282.23B | 280.29B | 288.12B | 287.27B |
| Cash, Cash Equivalents and Short-Term Investments | 36.71B | 34.52B | 28.59B | 23.91B | 26.22B |
| Total Debt | 84.27B | 71.55B | 63.08B | 55.49B | 69.79B |
| Total Liabilities | 204.53B | 203.91B | 194.80B | 205.13B | 196.83B |
| Stockholders Equity | 53.05B | 59.25B | 70.28B | 67.55B | 75.46B |
Cash Flow | |||||
| Free Cash Flow | 11.30B | 12.00B | 17.75B | 28.86B | 12.72B |
| Operating Cash Flow | 24.55B | 27.30B | 32.04B | 40.93B | 23.61B |
| Investing Cash Flow | -9.05B | -13.25B | -14.87B | -13.71B | -5.69B |
| Financing Cash Flow | -18.39B | -7.30B | -13.36B | -28.02B | -18.08B |
BP Technical Analysis
BP Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $373.19B | 27.89 | 7.26% | 4.54% | -3.44% | -22.05% | |
73 Outperform | $621.93B | 22.50 | 11.03% | 3.35% | -4.17% | -14.15% | |
71 Outperform | $226.50B | 13.17 | 10.13% | 3.92% | -6.96% | 0.03% | |
70 Outperform | $102.42B | 7.53 | 18.20% | 14.10% | -11.63% | -15.67% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
60 Neutral | $97.83B | 1,846.63 | 0.13% | 5.62% | -4.11% | -37.59% |
BP Corporate Events
BP reported its fourth-quarter and full-year 2025 results on 10 February 2026, showing underlying replacement cost profit of $7.5 billion for the year and $1.5 billion for the quarter, supported by $24.5 billion in operating cash flow despite lower oil prices and a quarterly reported loss of $3.4 billion driven by impairments and inventory effects. Operationally, BP posted record upstream plant reliability of 96.1%, record refining availability of 96.3%, broadly flat underlying production, seven major project start-ups, and a reserves replacement ratio of 90%, while its customer businesses delivered their strongest underlying earnings since 2019.
Strategically, BP advanced its divestment program with expected proceeds from completed and announced asset sales now above $11 billion, including an agreement to sell a 65% stake in Castrol and the disposal of Netherlands retail, U.S. onshore wind and certain U.S. midstream interests, and it raised its structural cost-reduction target to $5.5–6.5 billion by end-2027. The board moved to suspend share buybacks and channel all excess cash into debt reduction to reinforce the balance sheet and fund a pipeline of upstream oil and gas opportunities, as interim CEO Carol Howle highlighted the Bumerangue discovery in Brazil and flagged leadership transition with Meg O’Neill set to become CEO in April, framing these steps as positioning BP for long-term value growth and improved shareholder returns.
The most recent analyst rating on (BP) stock is a Hold with a $38.00 price target. To see the full list of analyst forecasts on BP stock, see the BP Stock Forecast page.
BP has filed a Form 6-K for the period ended 31 December 2025, providing management’s discussion and analysis, consolidated financial statements, details of legal proceedings, and capitalization and indebtedness for the fourth quarter and full year 2025. The filing shows that in the fourth quarter of 2025 BP recorded a loss attributable to shareholders of $3.4 billion but nonetheless ended the full year 2025 marginally profitable with $55 million attributable to shareholders, signalling operational resilience but continued earnings volatility that will be closely watched by investors and creditors.
The report, which covers performance over January–December 2025, highlights that non-controlling interests absorbed a substantial share of profits and that inventory holding gains and losses materially affected reported earnings. By incorporating this Form 6-K into a wide range of existing shelf and employee share-plan registration statements, BP is ensuring its latest financial and legal disclosures flow through to current and potential security holders, reinforcing transparency while underscoring the importance of 2025 results for the company’s funding flexibility and market positioning.
The most recent analyst rating on (BP) stock is a Hold with a $38.00 price target. To see the full list of analyst forecasts on BP stock, see the BP Stock Forecast page.
On 2 February 2026, BP disclosed that as of 31 January 2026 its issued share capital comprised 15,719,635,323 ordinary shares (excluding treasury shares) with one vote per share and 12,706,252 preference shares with enhanced voting rights, resulting in a total of 15,724,717,823 voting rights. The company also reported holding 766,677,671 ordinary shares in treasury, which are excluded from dividend entitlements and voting at shareholder meetings, and indicated that the updated voting rights figure should be used by investors to assess whether they must report holdings or changes in holdings under UK transparency rules, clarifying BP’s current capital and governance structure for market participants.
The most recent analyst rating on (BP) stock is a Hold with a $38.00 price target. To see the full list of analyst forecasts on BP stock, see the BP Stock Forecast page.
In January 2026, BP reported a series of transactions in its own shares under the share buyback programme launched on 4 November 2025 and authorized by shareholders at the 2025 annual general meeting. On 5 January 2026, the company repurchased 3,056,563 ordinary shares across the London Stock Exchange and Cboe UK venues, followed by a further 3,019,322 shares on 6 January 2026, with the bought-back stock to be transferred into treasury, increasing treasury holdings to over 863 million shares and reducing the number of ordinary shares in issue. The filing also detailed a major shareholding notification from Norges Bank, which crossed a disclosure threshold in BP on 2 January 2026, highlighting ongoing adjustments in the company’s investor base alongside BP’s continued capital-return activity to shareholders through buybacks.
The most recent analyst rating on (BP) stock is a Hold with a $38.00 price target. To see the full list of analyst forecasts on BP stock, see the BP Stock Forecast page.
On 14 January 2026, BP issued a trading statement outlining its current estimates for fourth-quarter 2025 performance, ahead of publishing full results on 10 February 2026. The company expects reported upstream production in the quarter to be broadly flat versus the third quarter, with oil production & operations steady but lower output in gas & low carbon energy. Segment results are set to reflect softer realizations in both gas & low carbon energy and oil production & operations, seasonally lower customer volumes, stronger refining margins offset by higher turnaround activity and temporary reduced capacity following a fire at the Whiting refinery, and a weak oil trading result. BP flagged significant post-tax impairments of $4–5 billion, primarily in its transition businesses within the gas & low carbon energy segment, which will be excluded from underlying replacement cost profit. Net debt is expected to fall sharply to $22–23 billion from $26.1 billion, helped by about $3.5 billion of fourth-quarter divestment proceeds, lifting 2025 divestments to $5.3 billion. The company also raised its expected underlying effective tax rate for 2025 to around 42% due to a shift in the geographical mix of profits, while operating conditions in the quarter included lower average Brent crude prices and slightly higher US Henry Hub gas prices compared with the prior quarter.
The most recent analyst rating on (BP) stock is a Buy with a $41.50 price target. To see the full list of analyst forecasts on BP stock, see the BP Stock Forecast page.
On 13 January 2026, BP p.l.c. transferred 145,012,557 ordinary shares out of treasury to satisfy distributions under certain employee share schemes, reducing its treasury stock and marginally increasing the free float. Following this transaction, BP’s issued share capital consists of 15,758,828,976 ordinary shares (excluding treasury shares), 12,706,252 preference shares, and 727,484,018 ordinary shares held in treasury—now representing 4.61% of total voting rights—with aggregate voting rights standing at 15,763,911,476, information that is relevant for investors monitoring disclosure thresholds and corporate governance under UK listing and transparency rules.
The most recent analyst rating on (BP) stock is a Hold with a $43.00 price target. To see the full list of analyst forecasts on BP stock, see the BP Stock Forecast page.
As at 31 December 2025, BP p.l.c.’s issued share capital consisted of 15,628,880,285 ordinary shares (excluding treasury shares), each carrying one vote, and 12,706,252 preference shares, each carrying two votes for every £5 of nominal capital held, with 857,432,709 ordinary shares held in treasury and therefore excluded from dividend payments and voting at shareholder meetings. The company reported a total of 15,633,962,785 voting rights, a disclosure made on 2 January 2026 in line with UK Disclosure Guidance and Transparency Rules, providing shareholders and investors with the necessary data to assess whether they must report holdings or changes in their interest in BP, and underlining the company’s ongoing compliance with regulatory transparency requirements around its capital structure.
The most recent analyst rating on (BP) stock is a Hold with a $44.00 price target. To see the full list of analyst forecasts on BP stock, see the BP Stock Forecast page.
In December 2025, BP p.l.c. continued executing the share buyback programme it announced on 4 November 2025, repurchasing around 1.49 million of its $0.25 ordinary shares on each of 1, 2 and 3 December across the London Stock Exchange and Cboe (UK) venues. The company stated that these shares will be transferred into treasury under existing shareholder authority from the 2025 AGM, incrementally increasing its treasury stock position to more than 841 million ordinary shares while reducing the number of shares in issue, a move that underscores BP’s ongoing capital-return strategy and has implications for earnings per share and the ownership stakes of remaining shareholders.
The most recent analyst rating on (BP) stock is a Hold with a $44.00 price target. To see the full list of analyst forecasts on BP stock, see the BP Stock Forecast page.
On 24 December 2025, BP agreed to sell a 65% shareholding in its Castrol lubricants business to infrastructure investor Stonepeak at an enterprise value of about $10.1 billion, implying an EV/LTM EBITDA multiple of roughly 8.6 times and valuing Castrol’s equity at around $8 billion after deducting minority interests and debt-like obligations. BP expects roughly $6 billion in net proceeds, including accelerated dividend prepayments on its retained 35% stake, and plans to use all of the cash to cut net debt as part of its $20 billion divestment programme, which this deal lifts to about $11 billion of completed and announced disposals; the transaction, which will create a new joint venture 65% owned by Stonepeak and 35% by BP, is intended to simplify BP’s portfolio, sharpen its downstream focus and strengthen its balance sheet while preserving future upside from Castrol’s growth trajectory, particularly in high-growth markets where Castrol holds major minority interests such as India, Vietnam, Saudi Arabia and Thailand.
The most recent analyst rating on (BP) stock is a Hold with a $44.00 price target. To see the full list of analyst forecasts on BP stock, see the BP Stock Forecast page.
On 17 December 2025, BP announced a major leadership transition, appointing Meg O’Neill, currently CEO of Woodside Energy, as its next chief executive officer effective 1 April 2026. Incumbent CEO Murray Auchincloss will step down as CEO and board director with effect from 18 December 2025, remaining in an advisory role until December 2026, while Carol Howle, executive vice president for supply, trading and shipping, will serve as interim CEO to ensure continuity. The board, led by chair Albert Manifold, framed the move as the outcome of a long-term succession process aimed at accelerating BP’s strategic drive to become a simpler, leaner and more profitable company, leveraging O’Neill’s track record in transformative deals, disciplined capital allocation and business improvement to reestablish market leadership and enhance shareholder value.
The most recent analyst rating on (BP) stock is a Buy with a $51.00 price target. To see the full list of analyst forecasts on BP stock, see the BP Stock Forecast page.
As of November 30, 2025, BP p.l.c. announced its total voting rights and share capital, revealing that the company has 15,652,322,669 ordinary shares and 12,706,252 preference shares. The total number of voting rights stands at 15,657,405,169, which is crucial for shareholders in determining their reporting obligations under the FCA’s Disclosure Guidance and Transparency Rules.
The most recent analyst rating on (BP) stock is a Hold with a $39.00 price target. To see the full list of analyst forecasts on BP stock, see the BP Stock Forecast page.
BP p.l.c. announced the commencement of a share buyback program on November 4, 2025, intending to repurchase ordinary shares worth up to $750 million by February 6, 2026. This program aims to reduce the company’s issued share capital and is conducted on the London Stock Exchange and Cboe (UK). The buyback is part of BP’s strategy to enhance shareholder value and optimize its capital structure, reflecting confidence in its financial position and future prospects.
The most recent analyst rating on (BP) stock is a Hold with a $39.00 price target. To see the full list of analyst forecasts on BP stock, see the BP Stock Forecast page.