BP
BP p.l.c.
BP's fundamentals are strong, but it looks expensive: trading at 23x earnings, above its usual 15x. Analysts expect earnings growth, though they disagree widely on how much.
BP Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Healthy | |
| Healthy |
BP's revenue, profitability, cash flow and balance sheet are all currently healthy.
BP PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 6.2x | $12.38 | -73% |
| Fair | 15x | $29.30 | -36% |
| Current | 23x | $45.82 | — |
| Expensive | 41x | $82.11 | +79% |
Historical ranges are pointers, not guarantees.
BP's PE is in its expensive range at 23x.
BP Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Growth | |
| Stable | |
| Stable | |
| Limited | |
| Low |
Analysts expect BP's earnings to grow, with its revenue and profitability holding steady. However, they disagree widely on these estimates.
BP Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | $2.00 | +852% |
| Q1 2026 | $1.18 | +$1.63 |
| Q4 2025 | $0.00 | -100% |
| Q3 2025 | $0.58 | -40% |
| Q2 2025 | $0.21 | -92% |
| Q1 2025 | -$0.45 | -114% |
| Q4 2024 | $0.09 | -98% |
| Q3 2024 | $0.96 | -89% |
BP's earnings per share have fallen from their peak: $2.00 over the past year, against $8.46 in late 2023.
BP Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $70.1B | +50% |
| Q1 2026 | $52.3B | +11% |
| Q4 2025 | $47.4B | +3.6% |
| Q3 2025 | $48.4B | +2.5% |
| Q2 2025 | $46.6B | -1.4% |
| Q1 2025 | $46.9B | -4% |
| Q4 2024 | $45.8B | -12% |
| Q3 2024 | $47.3B | -11% |
BP's revenue has grown year over year for four quarters in a row: $70.1B last quarter, up 50% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 13% | +3.8 points |
| Q1 2026 | 15% | +6.9 points |
| Q4 2025 | 6.3% | +3 points |
| Q3 2025 | 9% | +2.2 points |
| Q2 2025 | 8.9% | +3 points |
| Q1 2025 | 8.4% | -2.5 points |
| Q4 2024 | 3.3% | -7.4 points |
| Q3 2024 | 6.8% | -8.3 points |
BP's operating margin was 13% last quarter, up 3.8 points from the same quarter a year ago.
BP Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $7.8B | +156% |
| Q1 2026 | -$382M | +$135M |
| Q4 2025 | $4.1B | +17% |
| Q3 2025 | $4.6B | +82% |
| Q2 2025 | $3B | -35% |
| Q1 2025 | -$517M | -140% |
| Q4 2024 | $3.5B | -31% |
| Q3 2024 | $2.5B | -52% |
BP still generates free cash flow, though less than at its 2022 peak: $16.1B over the past year.
BP Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | +870K shares |
| 1 year | -1.2% | -31.2M shares |
| 3 years | -12% | -372M shares |
| 5 years | -23% | -783M shares |
| Available history | -23% | -784M shares |
BP has 2.6B diluted shares, down 1.2% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | $826M |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | $1.6B |
| Q3 2024 | — |
BP spent $826M buying back its own shares over the past year, down 49% from the year before.
BP Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 0.9x | Very low |
| Q1 2026 | 1.1x | Healthy |
| Q4 2025 | 1.6x | Healthy |
| Q3 2025 | 1.3x | Healthy |
| Q2 2025 | 1.4x | Healthy |
| Q1 2025 | 1.4x | Healthy |
| Q4 2024 | 1.3x | Healthy |
| Q3 2024 | 1.1x | Healthy |
BP's net debt is less than a year of its operating earnings (EBITDA), down from 1.4 years a year ago.
BP Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 52.7 | Neutral |
| Stochastic | 54.7 | Neutral |
BP's weekly RSI is 53 (neutral) and its Stochastic is 55 (neutral).
BP PE vs Energy Sector
| Metric | BP | Sector median | Relative |
|---|---|---|---|
| PE | 23x | 13x | 75% above |
| PE % | 70 | 61 | 9 pts above |
BP is trading at 23x earnings, a 75% premium to the Energy sector's median of 13x.
BP Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $47.2 | 2.9% below |
| 20 week MA | $44.5 | 2.9% above |
| 50 week MA | $42.1 | 8.8% above |
| 100 week MA | $37.2 | 23% above |
| 200 week MA | $36.5 | 26% above |
BP's trend is up, with a small recent dip: it's below only its 8-week average, and 26% above its 200-week average.
BP Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $37.9 | $21.1 | -44% |
| 2021 | $21.1 | $27.0 | +28% |
| 2022 | $27.0 | $35.0 | +30% |
| 2023 | $35.0 | $35.4 | +1.1% |
| 2024 | $35.4 | $29.0 | -18% |
| 2025 | $29.0 | $34.3 | +18% |
| 2026 YTD | $34.3 | $45.8 | +34% |
BP has finished higher in four of the last six years. It's up 34% so far in 2026.