BP plc - ADR
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+ FollowMarket Cap$117.98B
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Earnings Call Q3 2026
October 30, 2026 - AI Summary
Q3 financial performance was strong (and beat the prior quarter), but not “easy” cash
- Underlying profit: $8.5bn, + $2.7bn QoQ (up 48%), helped by a more favorable global environment and better operational execution.
- Operating cash flow: $14.8bn, + $4.0bn QoQ.
- IFRS profit: $4.7bn after net adverse adjusting items ~$5.4bn (incl. post-tax impairments ~$4bn, mainly transition businesses like Lightsource bp and offshore wind)—a key negative/investor concern despite strong “underlying” earnings.
- Surprise/what matters: strong results came alongside higher process-safety events (see below), so execution gains are mixed with risk issues.
Cash generation improved the balance sheet, but “financial obligations” remain high and are a continuing focus
- Financial obligations: reduced by $9.3bn in the quarter; ~$16bn down since Q1.
- Net debt: down to $13.9bn (Kate: -~$8.4bn in the quarter), i.e., ahead of the net debt target.
- Broader obligations: $44.3bn total at end of Q3; management says there’s line of sight to further reduction supported by cash generation + divestment proceeds and expected working-capital unwind (estimate ~$0.5bn for the rest of 2026).
Deepwater Horizon updates: acceleration in Louisiana + intent to prioritize remaining liabilities using excess cash
- BP reached an agreement with Louisiana to accelerate settlement commitments, giving the state access to funds now (strengthening the foundation for work).
- Key outlook move: BP intends to prioritize excess cash flow to address remaining Deepwater Horizon liabilities in full (value/approach still being worked through at state and federal levels; updates expected once finalised).
- Risk for investors: timing/value are still not fully locked—could influence future cash availability, though BP frames it as increasing resilience once settled.
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$51.43
12.8% upside
Current Fair Value
12.8% upsideUndervalued by 12.8% based on the discounted cash flow analysis.
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Share Statistics
| Market cap | $117.98 Billion |
|---|---|
| Enterprise Value | $153.51 Billion |
| Annual dividend | $2.02 |
| Dividend yield | 4.00% |
| Earnings per Share | $0.02 |
| Beta | -0.21 |
| Outstanding Shares | 2,587,038,833 |
Return
| Return on Equity | 9.41% |
|---|---|
| Return on Assets | 1.87% |
| Return on Invested Capital | 11.09% |
Valuation & Multiples
| P/E Ratio | 24.38 |
|---|---|
| PEG | 17.71 |
| Price to Sales | 0.55 |
| Price to Book Ratio | 1.57 |
| Enterprise Value to Revenue | 0.71 |
| Enterprise Value to EBIT | 6.95 |
| Enterprise Value to Net Income | 27 |
| Total Debt to Enterprise | 0.47 |
| Debt to Equity | 1.24 |
Revenue Sources
No data
Last Earnings Call
Report Date
November 3, 2026
EPS Estimate
$1.62
Consensus analyst estimateRevenue Estimate
$58.37 B
Consensus analyst estimateNext Earnings Call
Expected Date
February 9, 2027
EPS Estimate
$2.03
Consensus analyst estimateRevenue Estimate
$61.85 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 0.00, the ratio is below 1, so institutions hold more calls than puts.
| Put/Call Ratio | 0.0000▼ 38.52% |
|---|---|
| Total Calls | 7,014▼ 99.97% |
| Total Puts | -▼ 100.00% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 0.60%▼ 13.43% |
|---|---|
| Total Invested | $685.64M▼ 94.90% |
| Investors Holding | 498▼ 732.00% |
About BP plc
93,700 employees
CEO: Robert Dudley
BP p.l.c., an integrated energy company, engages in the oil and gas business worldwide. The company operates through Gas & Low Carbon Energy, Oil Production & Operations, and Customers & Products segments. It engages in the production of...