Sunday 1 November 2026 Export EC’s income statement to Excel — free account

Ecopetrol S.A.

EC Energy Oil & Gas Integrated

Ecopetrol S.A.’s revenue for fiscal 2025 (year ended December 2025) was $23.9 billion, down 83.7% from fiscal 2024.

Revenue: +103.2%
EPS: +22.6%
Free cash flow: +62.3%
Total debt: +30.9%

Quarter to June 2026, against a year earlier

17.19 0.09 −0.52%

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Market cap: $35.5B
P/E: 13.6×
Fwd P/E: 5.7×
Dividend yield: 3.78%
F-score: 6/9
Altman Z: 1.21
Beneish M: −3.66
Dividend safety: 30/100

Overview

Insider Decisions last twelve months

Trades a month
	Jan 26			Apr 26			Jul 26			Oct 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 0.00%

Capital & Financial Ratios $m

Size

Market Cap 35,520.00

Revenue ttm 32,378.90

Net income ttm 4,586.50

Free cash flow ttm 4,965.60

Net debt Q 28,117.80

Valuation

P/E 13.64

Forward P/E 5.65

Price / sales 1.09

Forward P/S Powerpack

Price / FCF 7.12

Price / book 1.66

Financial health

Current ratio Q 1.51

Debt / equity Q 0.96

Interest coverage Q 9.36

Growth

Revenue growth Q +103.23%

Operating income growth Q +240.15%

EPS, this year +89.79%

EPS, next year A −18.66%

Revenue, next year A +600,814.74%

EPS, past 5 yrs +43.10%

EPS, next 5 yrs A +12.98%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 79.46%

10-year low 10-year high

P/S against its own 10 years 68.71%

10-year low 10-year high

P/B against its own 10 years 74.48%

10-year low 10-year high

EV/Sales against its own 10 years 76.94%

10-year low 10-year high

EV/FCF against its own 10 years 74.58%

10-year low 10-year high

Dividends

Yield: 3.78%
Annual rate: 0.65
Payout ratio: 51.6%
Growth, 2017–24: +39.1%/yr

0.16 ’17
0.64 ’18 +314%
0.54 ’19 −17%
0.89 ’20 +66%
0.09 ’21 −89%
1.46 ’22 +1464%
1.79 ’23 +23%
1.57 ’24 −12%
288.47 ’25e +18263%
160.00 ’26e −45%

paid forecast Powerpack

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	17,036	16,397	2,506	3,358
Receivables	39,973	22,468	2,976	6,075
Inventory	12,243	11,031	1,722	3,173
Other	13,056	16,779	3,485	5,272
	82,338	66,726	10,689	17,878

	2023	2024	2025	Q'26
Payables	22,670	21,232	3,152	5,868
ST’ Debt	18,660	12,417	2,016	3,319
Other	3,834	6,904	932	1,720
	52,277	43,599	6,903	11,829

Compound Annual Growth %

	10y	5y	3y
Sales	1.35%	(18.18%)	(48.53%)
Cash Flow	4.82%	(11.00%)	(44.90%)
Earnings	0.00%	0.34%	(60.78%)
Book Value	2.16%	(21.04%)	(44.56%)

Earnings Trends EPS, adjusted, against the consensus

Jun 2026 Estimate 0.86 Actual 0.82

0.11 0.32 0.53 0.75 0.96

Mar 2025 Met 0.00

Jun 2025 Miss −0.12

Mar 2026 Miss −0.22

Jun 2026 Miss −0.04

Sep 2026 — Nov 10

Earnings per share against the consensus, by quarter
Quarter	Estimate	Reported	Result
Mar 2025	0.36	0.36	Met by 0.00
Jun 2025	0.33	0.21	Miss by 0.12
Mar 2026	0.60	0.38	Miss by 0.22
Jun 2026	0.86	0.82	Miss by 0.04
Sep 2026	0.62	—	Reports 10 November 2026

EPS $

	Mar	Jun	Sep	Dec	Year
’26	—	—	—	—	—
’25	0.36	0.21	0.31	0.38	1.26
’24	0.50	0.42	0.43	0.31	1.66
’23	0.58	0.45	0.61	0.74	2.37
’22	0.82	1.30	1.06	0.69	3.61
’21	0.42	0.49	0.48	0.63	2.03
’20	0.02	0.00	0.11	0.08	0.21

Fiscal quarters ending in the months shown.

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	8,588	12,059	—	—	—
’25	6,273	5,934	5,968	5,764	23,939
’24	9,391	9,788	6,921	120,563	146,664
’23	7,771	6,860	7,026	150,171	171,828
’22	9,742	13,166	8,688	143,977	175,572
’21	5,162	5,833	7,000	101,451	119,446
’20	4,522	2,533	3,697	54,539	65,290

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	2,153	2,088	—	—	—
’25	1,224	2,009	1,776	1,659	6,668
’24	1,805	5,121	185	42,530	49,640
’23	414	628	838	21,881	23,761
’22	1,136	1,846	1,993	34,883	39,858
’21	880	994	1,584	25,839	29,297
’20	772	(674)	1,058	10,787	11,943

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	899	866	—	—	—
’25	680	534	983	2,217	4,414
’24	528	3,747	63	21,704	26,042
’23	(574)	912	(1,681)	(2,930)	(4,274)
’22	144	479	3,240	12,340	16,203
’21	151	170	511	11,181	12,013
’20	(262)	(1,391)	436	(1,261)	(2,478)

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	TTM Jun ’26	Trend	10 yrs	2026e	2027e	2028e	Next 3/yr
													Ten-year view		Analyst estimates Powerpack
Income, $m
Income, $m	Revenue	63,031	83,931	109,766	100,084	65,290	119,446	175,572	171,828	146,664	23,939	32,379		(10.2%)	143,851,778	131,763,696	129,372,012	+1,654.9%
	Gross margin, %	29.36	34.04	39.97	37.09	25.20	39.51	43.95	38.42	35.14	31.44	36.64		+2.1 pt	Powerpack Ecopetrol S.A.’s next three years, line by line Analysts expect revenue to grow 1,654.9% a year to 2028 — faster than the −10.2% of the last 9 years. See the consensus for every other line: earnings, margins, cash flow, valuation and returns. Unlock estimates Try Powerpack free for 7 days, then $99 / year ($8.25 a month). Cancel any time. Also in Powerpack: every quarter, Excel exports, API & MCP access. Compare plans
	EBT	10,128	20,654	32,982	27,613	6,209	34,354	59,580	44,279	33,778	3,772	6,998		(10.4%)
	EBT margin, %	16.07	24.61	30.05	27.59	9.51	28.76	33.93	25.77	23.03	15.76	21.61		(0.3) pt
	Net income	4,222	11,954	19,769	21,007	3,559	22,920	38,719	30,460	20,349	2,889	4,587		(4.1%)
Per share, $
Per share, $	Revenue	30.66	40.83	53.39	48.68	31.76	58.10	85.40	83.58	71.34	11.64	0.00		(10.2%)
	Earnings	0.39	1.18	9.62	10.22	0.21	2.03	3.61	2.37	1.66	1.26	1.26		+13.9%
	Cash flow	9.00	12.38	17.49	18.87	5.81	14.25	19.39	11.56	24.15	3.24	0.00		(10.7%)
	Capex	(3.62)	(4.16)	(6.51)	(9.41)	(7.01)	(8.41)	(11.51)	(13.64)	(11.48)	(1.10)	0.00		(12.4%)
	Free cash flow	5.38	8.23	10.97	9.46	(1.21)	5.84	7.88	(2.08)	12.67	2.15	0.00		(9.7%)
	Book value	27.55	35.18	44.45	39.66	33.83	57.28	60.95	58.52	56.67	10.38	0.00		(10.3%)
	Shares, m	2,056	2,056	2,056	2,056	2,056	2,056	2,056	2,056	2,056	2,056	2,060		0.0%
Valuation, ×
Valuation, ×	P/E	0.00	27.00	9.45	9.69	61.48	6.38	2.56	5.03	4.77	7.95	13.64		13.4
	P/S	1.12	2.17	1.54	0.41	0.41	0.22	0.12	0.14	0.11	0.86	1.09		0.7
	P/B	1.42	2.35	2.42	0.50	0.38	0.23	0.16	0.20	0.14	0.96	1.66		0.9
	EV/Sales	1.88	2.87	1.89	0.82	1.19	1.08	0.73	0.78	0.90	1.67	1.96		1.4
	EV/FCF	211.43	12.09	7.31	4.24	(31.40)	10.74	7.95	(24.78)	5.06	9.05	12.78		21.2
Cash, $m
Cash, $m	Operating cash flow	18,503	25,460	35,951	38,796	11,943	29,297	39,858	23,761	49,640	6,668	7,677		(10.7%)
	Capex	(7,446)	(8,547)	(13,388)	(19,354)	(14,421)	(17,283)	(23,655)	(28,034)	(23,598)	(2,254)	(2,711)		(12.4%)
	Free cash flow	11,057	16,913	22,562	19,442	(2,478)	12,013	16,203	(4,274)	26,042	4,414	4,966		(9.7%)
Balance, $m
Balance, $m	Working capital	10,064	9,566	14,730	2,271	5,918	27,881	22,544	30,061	23,127	3,786	6,049		(10.3%)
	Net debt	49,978	48,951	42,288	41,355	51,291	102,549	108,429	109,942	115,565	19,334	28,118		(10.0%)
	Shareholders’ equity	56,629	72,324	91,372	81,524	69,549	117,759	125,293	120,303	116,505	21,348	32,880		(10.3%)
Returns, %
Returns, %	ROA	3.09	6.46	9.68	9.95	1.13	8.23	10.73	7.55	4.58	1.09	5.27		(2.0) pt
	ROIC	6.79	12.50	16.80	14.97	4.83	10.95	17.72	13.60	11.39	8.20	9.16		+1.4 pt
	ROE	8.62	16.70	22.25	22.26	2.73	21.72	28.61	20.58	12.86	3.04	0.00		(5.6) pt
People
People	Employees	10,920	11,682	12,228	15,157	13,977	18,378	18,903	19,657	19,581	19,581	—		+6.7%
	Revenue/emp, $m	5.77	7.18	8.98	6.60	4.67	6.50	9.29	8.74	7.49	1.22	—		(15.8%)

Negative figures in brackets.

estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 26 Oct 2026

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
BP BP p.l.c.	$129.7B	24.0×	7.7×	+47.06% (above 0%: growing)	+140.32% (above 0%: growing)	+144.15% (above 0%: growing)	27.64%	12.75%	Compare
EQNR Equinor ASA	$113.8B	13.3×	8.3×	+39.90% (above 0%: growing)	+298.00% (above 0%: growing)	+1,548.80% (above 0%: growing)	54.71%	36.94%	Compare
E Eni SpA	$87.7B	14.9×	8.8×	+21.42% (above 0%: growing)	+616.67% (above 0%: growing)	+43.60% (above 0%: growing)	21.45%	5.19%	Compare
PBR Petroleo Brasileiro S.A.- Petrobras	$81.5B	5.6×	—	+59.75% (above 0%: growing)	+118.92% (above 0%: growing)	+149.36% (above 0%: growing)	58.00%	42.41%	Compare
CVE Cenovus Energy Inc	$58.4B	12.6×	7.9×	+41.33% (above 0%: growing)	+226.47% (above 0%: growing)	+18,996.54% (above 0%: growing)	42.35%	23.60%	Compare
PBR.A Petroleo Brasileiro S.A.- Petrobras	$52.9B	4.9×	—	+59.75% (above 0%: growing)	+118.92% (above 0%: growing)	+149.36% (above 0%: growing)	58.00%	42.41%	Compare
EC Ecopetrol S.A.	$35.5B	13.6×	5.7×	+103.23% (above 0%: growing)	+22.58% (above 0%: growing)	+62.31% (above 0%: growing)	40.10%	31.80%
YPF YPF Sociedad Anonima	$18.8B	24.7×	—	+41.65% (above 0%: growing)	+2,546.55% (above 0%: growing)	+922.15% (above 0%: growing)	45.10%	27.58%	Compare
NFG National Fuel Gas Company	$7.5B	10.9×	11.0×	+1.07% (above 0%: growing)	−12.05% (below 0%: shrinking)	−43.17% (below 0%: shrinking)	94.44%	38.87%	Compare
Median of peers	$69.9B	12.9×	8.3×	+41.49%	+183.40%	+149.36%	49.91%	32.26%

All 19 Oil & Gas Integrated stocks →

Ecopetrol S.A. (EC) Latest News

28 Oct

Impact 4 · 4:50 PM · Zacks

Ecopetrol (EC) Laps the Stock Market: Here's Why

27 Oct

Impact 4 · 8:00 AM · Zacks

Ecopetrol S.A. (EC) Is a Trending Stock: Facts to Know Before Betting on It

22 Oct

Impact 3 · 6:42 AM · PR Newswire

Ecopetrol's "New Era" Advances with the Appointment of the Executive Vice President of Energies for the Transition and Two Legal Representatives

21 Oct

Impact 3 · 4:50 PM · Zacks

Ecopetrol (EC) Stock Slides as Market Rises: Facts to Know Before You Trade

20 Oct

Impact 4 · 10:04 PM · PR Newswire

Fitch Ratings Affirms Ecopetrol's National and International Ratings and Highlights Its Financial Strength

Impact 4 · 11:20 AM · Zacks

Why Ecopetrol (EC) Might be Well Poised for a Surge

Impact 3 · 11:00 AM · Zacks

What Makes Ecopetrol (EC) a Strong Momentum Stock: Buy Now?

16 Oct

Impact 4 · 8:00 AM · Zacks

Ecopetrol S.A. (EC) is Attracting Investor Attention: Here is What You Should Know

15 Oct

Impact 3 · 8:52 AM · PR Newswire

Ecopetrol Continues Advancing Its Transformation Journey with the Appointment of Its New Corporate Compliance Officer

12 Oct

Impact 3 · 4:50 PM · Zacks

Ecopetrol (EC) Advances While Market Declines: Some Information for Investors

6 Oct

Impact 4 · 10:02 AM · Zacks

Petrobras Expands Offshore Gas Footprint With Colombia Campaign

Impact 3 · 4:50 PM · Zacks

Ecopetrol (EC) Stock Declines While Market Improves: Some Information for Investors

5 Oct

Impact 4 · 2:15 PM · Oilprice.com

Ecopetrol and Petrobras Complete $1 Billion Caribbean Gas Campaign

Impact 4 · 8:00 AM · Zacks

Ecopetrol S.A. (EC) Is a Trending Stock: Facts to Know Before Betting on It

1 Oct

Impact 4 · 7:00 AM · PR Newswire

Ecopetrol Advances Its Transformation with Changes to Its Senior Management Team

Impact 3 · 7:00 AM · PR Newswire

Ecopetrol Group, in coordination with the National Government, receives payment of the Fuel Price Stabilization Fund (FEPC, by its Spanish acronym) receivable corresponding to the third and fourth quarters of 2025

29 Sep

Impact 3 · 4:50 PM · Zacks

Ecopetrol (EC) Suffers a Larger Drop Than the General Market: Key Insights

24 Sep

Impact 4 · 6:30 PM · PR Newswire

Ecopetrol's Board of Directors Unanimously Appoints Joaquín Gutiérrez Caballero as the Company's New Chief Executive Officer

Impact 4 · 9:49 AM · Zacks

Petrobras May Add Colombia Gas Project to 2027-2031 Business Plan

23 Sep

Impact 3 · 5:50 PM · Zacks

Here's Why Ecopetrol (EC) Fell More Than Broader Market

22 Sep

Impact 3 · 9:00 AM

Investors Heavily Search Ecopetrol S.A. (EC): Here is What You Need to Know

25 Aug

Impact 4 · 9:01 PM · MarketBeat

Ecopetrol Takes Control of Brava Energia in $1.2B Brazil Growth Bet

18 Aug

Impact 4 · 12:37 PM

Ecopetrol Completes $1.2 Billion Brazilian Oil Deal

Impact 4 · 12:20 AM

Ecopetrol Completes Acquisition of a Controlling 51% Stake in Brava Energia S.A. and Strengthens Its Growth Platform in Brazil

10 Aug

Impact 4 · 7:00 PM

Colombia Revives Oil And Gas After Four-Year Renewable Energy Push

5 Aug

Impact 4 · 7:03 PM

Ecopetrol Announces Successful Auction Result for the Acquisition of Approximately 25% of the Share Capital of Brava Energia S.A.

Impact 3 · 2:03 AM · MarketBeat

Ecopetrol Q2 Earnings Call Highlights

20 Jul

Impact 4 · 9:47 PM

Ecopetrol Resumes the Tender Offer in Brazil to Complete the Acquisition of a Controlling Equity Stake in Brava Energia S.A.

17 Jul

Impact 3 · 10:49 PM

Ecopetrol Reports Cybersecurity Incident

28 May

Impact 3 · 10:15 AM · PR Newswire

Decisions of the Board of Directors of Ecopetrol

Ecopetrol S.A.

Insider Decisions last twelve months

Capital & Financial Ratios $m

Valuation vs history

Dividends

Assets vs Liabilities $m

Compound Annual Growth %

Earnings Trends EPS, adjusted, against the consensus

EPS $

Revenue $m

Operating Cash Flow $m

Free Cash Flow $m

Target Price Range

Recommendation Rating

Ten years at a glance Fiscal years to December

Ecopetrol S.A. vs peers in Oil & Gas Integrated (Q) = latest quarter vs a year earlier

Ecopetrol S.A. (EC) Latest News

28 Oct

27 Oct

22 Oct

21 Oct

20 Oct

16 Oct

15 Oct

12 Oct

6 Oct

5 Oct

1 Oct

29 Sep

24 Sep

23 Sep

22 Sep

25 Aug

18 Aug

10 Aug

5 Aug

20 Jul

17 Jul

28 May

Insider Decisions last twelve months

Capital & Financial Ratios $m

Valuation vs history

Dividends

Assets vs Liabilities $m

Compound Annual Growth %

Earnings Trends EPS, adjusted, against the consensus

EPS $

Revenue $m

Operating Cash Flow $m

Free Cash Flow $m

Target Price Range

Recommendation Rating

Ten years at a glance Fiscal years to December

Ecopetrol S.A. vs peers in Oil & Gas Integrated (Q) = latest quarter vs a year earlier

Ecopetrol S.A. (EC) Latest News

28 Oct

27 Oct

22 Oct

21 Oct

20 Oct

16 Oct

15 Oct

12 Oct

6 Oct

5 Oct

1 Oct

29 Sep

24 Sep

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22 Sep

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