Financials BP PLC

Equities

BP.

GB0007980591

Oil & Gas Refining and Marketing

Market Closed - London Stock Exchange Other stock markets 11:35:02 2023-12-07 am EST			5-day change	1st Jan Change
460.25 ^GBX	-1.22%		-3.93%	-3.08%

03:11am	Biggest oil and gas sector deals since start of the century	RE
Dec. 07	BP : Gets a Buy rating from RBC	ZD

Valuation

Fiscal Period : December	2018	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	127 415	125 861	70 274	87 609	104 293	96 825	-	-
Enterprise Value (EV) ¹	170 524	180 835	121 089	126 435	125 715	121 051	118 103	115 140
P/E ratio	13,5x	31,7x	-3,47x	12,0x	-43,8x	5,87x	6,54x	6,67x
Yield	6,40%	6,56%	9,04%	4,84%	4,19%	4,85%	5,20%	5,49%
Capitalization / Revenue	0,43x	0,45x	0,39x	0,56x	0,43x	0,44x	0,44x	0,45x
EV / Revenue	0,57x	0,65x	0,67x	0,80x	0,52x	0,55x	0,54x	0,53x
EV / EBITDA	4,42x	4,94x	10,1x	3,40x	2,08x	2,76x	2,70x	2,75x
EV / FCF	27,7x	17,5x	-841x	9,94x	5,11x	7,50x	7,51x	8,18x
FCF Yield	3,62%	5,72%	-0,12%	10,1%	19,6%	13,3%	13,3%	12,2%
Price to Book	1,28x	1,29x	0,99x	1,20x	1,61x	1,32x	1,23x	1,12x
Nbr of stocks (in thousands)	20 149 930	20 126 809	20 169 694	19 593 397	18 157 212	16 730 841	-	-
Reference price ²	6,32	6,25	3,48	4,47	5,74	5,79	5,79	5,79
Announcement Date	2/5/19	2/4/20	2/2/21	2/8/22	2/7/23	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period : December	2018	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	298 756	278 397	180 366	157 739	241 392	221 235	220 396	217 157
EBITDA ¹	38 537	36 571	12 041	37 147	60 362	43 929	43 783	41 801
EBIT ¹	23 080	18 791	-2 848	22 342	46 044	28 448	29 127	27 293
Operating Margin	7,73%	6,75%	-1,58%	14,2%	19,1%	12,9%	13,2%	12,6%
Earnings before Tax (EBT) ¹	16 723	8 154	-24 888	15 227	15 405	28 462	25 279	23 544
Net income ¹	9 383	4 026	-20 305	7 565	-2 487	17 632	14 521	13 872
Net margin	3,14%	1,45%	-11,3%	4,80%	-1,03%	7,97%	6,59%	6,39%
EPS ²	0,47	0,20	-1,00	0,37	-0,13	0,99	0,88	0,87
Free Cash Flow ¹	6 166	10 352	-144	12 725	24 602	16 138	15 731	14 068
FCF margin	2,06%	3,72%	-0,08%	8,07%	10,2%	7,29%	7,14%	6,48%
FCF Conversion (EBITDA)	16,0%	28,3%	-	34,3%	40,8%	36,7%	35,9%	33,7%
FCF Conversion (Net income)	65,7%	257%	-	168%	-	91,5%	108%	101%
Dividend per Share ²	0,41	0,41	0,32	0,22	0,24	0,28	0,30	0,32
Announcement Date	2/5/19	2/4/20	2/2/21	2/8/22	2/7/23	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period : December	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4
Net sales ¹	36 467	36 174	50 554	49 258	67 866	55 011	69 257	56 182	48 538	53 269	56 645	59 689	60 083	60 754	61 253
EBITDA ¹	8 293	9 878	10 912	13 834	16 278	17 217	13 033	13 016	9 770	10 306	11 067	11 109	11 081	11 302	11 461
EBIT ¹	4 662	5 934	7 049	10 209	12 766	13 750	9 319	9 216	5 606	6 087	7 537	6 957	6 676	7 010	6 615
Operating Margin	12,8%	16,4%	13,9%	20,7%	18,8%	25,0%	13,5%	16,4%	11,5%	11,4%	13,3%	11,7%	11,1%	11,5%	10,8%
Earnings before Tax (EBT) ¹	5 138	-495	4 042	-17 540	14 063	1 980	16 902	11 847	3 494	7 309	6 683	6 323	5 912	6 269	6 172
Net income ¹	3 116	-2 544	2 326	-20 384	9 257	-2 163	10 803	8 218	1 792	4 858	4 022	3 699	3 589	3 614	3 531
Net margin	8,54%	-7,03%	4,60%	-41,4%	13,6%	-3,93%	15,6%	14,6%	3,69%	9,12%	7,10%	6,20%	5,97%	5,95%	5,76%
EPS ²	0,15	-0,13	0,12	-1,04	0,47	-0,11	0,58	0,45	0,10	0,28	0,26	0,22	0,22	0,22	0,22
Dividend per Share ²	0,05	0,05	0,05	0,05	0,06	0,06	0,07	0,07	0,07	0,07	0,08	0,08	0,08	0,08	0,08
Announcement Date	8/3/21	11/2/21	2/8/22	5/3/22	8/2/22	11/1/22	2/7/23	5/2/23	8/1/23	10/31/23	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period : December	2018	2019	2020	2021	2022	2023	2024	2025
Net Debt ¹	43 109	54 974	50 815	38 826	21 422	24 227	21 278	18 315
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	1,12x	1,50x	4,22x	1,05x	0,35x	0,55x	0,49x	0,44x
Free Cash Flow ¹	6 166	10 352	-144	12 725	24 602	16 138	15 731	14 068
ROE (net income / shareholders' equity)	12,9%	10,1%	-6,71%	10,3%	38,7%	20,2%	19,2%	17,1%
Shareholders' equity ¹	72 987	39 868	302 721	73 354	-6 431	87 433	75 476	81 239
ROA (Net income/ Total Assets)	4,55%	3,46%	-2,02%	2,73%	9,61%	5,23%	4,77%	4,45%
Assets ¹	206 013	116 341	1 004 253	277 513	-25 874	337 101	304 528	311 583
Book Value Per Share ²	4,95	4,86	3,52	3,72	3,56	4,39	4,69	5,15
Cash Flow per Share ²	1,14	1,26	0,60	1,17	2,16	1,76	1,88	1,92
Capex ¹	16 707	15 418	12 306	10 887	16 330	15 302	15 528	15 841
Capex / Sales	5,59%	5,54%	6,82%	6,90%	6,76%	6,92%	7,05%	7,29%
Announcement Date	2/5/19	2/4/20	2/2/21	2/8/22	2/7/23	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for BP PLC

Trading Rating :

Investor Rating :

ESG Refinitiv :

C+

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

5.787USD

Average target price

7.697USD

Spread / Average Target

+33.01%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Oil & Gas Refining and Marketing

	1st Jan change	Capi.
BP PLC	-3.08%	96 825 M $
EXXON MOBIL CORPORATION	-10.77%	393 B $
RELIANCE INDUSTRIES LTD	-3.37%	187 B $
CHINA PETROLEUM & CHEMICAL CORPORATION	+3.45%	83 383 M $
PHILLIPS 66	+19.73%	54 827 M $
MARATHON PETROLEUM CORPORATION	+21.64%	53 758 M $
VALERO ENERGY CORPORATION	-3.78%	41 559 M $
NESTE OYJ	-18.81%	28 949 M $
FORMOSA PETROCHEMICAL CORPORATION	+2.49%	24 955 M $
INDIAN OIL CORPORATION LIMITED	+56.08%	20 051 M $

Other Oil & Gas Refining and Marketing