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Stocks · Energy · Crude Petroleum & Natural Gas

ECOPETROL S.A.

EC Clue Score53
Colombia Fiscal year ends December CIK 0001444406
$16.94 +0.00% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $16.94 +8.31% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue48,485.56Operating income8,904.55Net income2,447.88Fiscal year 2017Revenue55,954.23 +15.4%Operating income16,171.86Net income7,178.54 +193.3%Fiscal year 2018Revenue68,603.87 +22.6%Operating income22,458.41Net income11,381.39 +58.5%Fiscal year 2019Revenue71,488.51 +4.2%Operating income21,027.16Net income13,744.01 +20.8%EPS, diluted334.27Fiscal year 2020Revenue50,223.39 −29.7%Operating income7,181.77Net income1,586.68 −88.5%EPS, diluted38.59 −88.5%Fiscal year 2021Revenue91,881.20 +82.9%Operating income29,697.71Net income15,649.14 +886.3%EPS, diluted380.60 +886.3%Fiscal year 2022Revenue159,611.08 +73.7%Operating income60,229.75Net income31,604.78 +102.0%EPS, diluted768.70 +102.0%Fiscal year 2023Revenue143,189.60 −10.3%Operating income41,758.98Net income21,060.80 −33.4%EPS, diluted512.20 −33.4%Fiscal year 2024Revenue133,330.43 −6.9%Operating income38,463.00Net income13,841.15 −34.3%EPS, diluted336.60 −34.3%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024
Revenue 48,485.56 55,954.23 68,603.87 71,488.51 50,223.39 91,881.20 159,611.08 143,189.60 133,330.43
Growth +15.4% +22.6% +4.2% −29.7% +82.9% +73.7% −10.3% −6.9%
Operating income 8,904.55 16,171.86 22,458.41 21,027.16 7,181.77 29,697.71 60,229.75 41,758.98 38,463.00
Net income 2,447.88 7,178.54 11,381.39 13,744.01 1,586.68 15,649.14 31,604.78 21,060.80 13,841.15
Growth +193.3% +58.5% +20.8% −88.5% +886.3% +102.0% −33.4% −34.3%
EPS, diluted n/a n/a n/a 334.27 38.59 380.60 768.70 512.20 336.60
Growth −88.5% +886.3% +102.0% −33.4% −34.3%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin29.4%Operating margin18.4%Net margin5.0%Free cash flow margin21.8%Fiscal year 2017Gross margin34.0%Operating margin28.9%Net margin12.8%Free cash flow margin26.1%Fiscal year 2018Gross margin40.0%Operating margin32.7%Net margin16.6%Free cash flow margin27.9%Fiscal year 2019Gross margin37.1%Operating margin29.4%Net margin19.2%Free cash flow margin33.2%Fiscal year 2020Gross margin25.2%Operating margin14.3%Net margin3.2%Free cash flow margin8.3%Fiscal year 2021Gross margin39.5%Operating margin32.3%Net margin17.0%Free cash flow margin17.9%Fiscal year 2022Gross margin44.0%Operating margin37.7%Net margin19.8%Free cash flow margin17.2%Fiscal year 2023Gross margin38.4%Operating margin29.2%Net margin14.7%Free cash flow margin7.3%Fiscal year 2024Gross margin35.1%Operating margin28.8%Net margin10.4%Free cash flow margin26.7%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024
Gross margin 29.4% 34.0% 40.0% 37.1% 25.2% 39.5% 44.0% 38.4% 35.1%
Operating margin 18.4% 28.9% 32.7% 29.4% 14.3% 32.3% 37.7% 29.2% 28.8%
Net margin 5.0% 12.8% 16.6% 19.2% 3.2% 17.0% 19.8% 14.7% 10.4%
Free cash flow margin 21.8% 26.1% 27.9% 33.2% 8.3% 17.9% 17.2% 7.3% 26.7%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow14,232.94Capital expenditure−3,646.93Free cash flow10,586.01Dividends paid−1,712.30Fiscal year 2017Operating cash flow16,973.63Capital expenditure−2,363.28Free cash flow14,610.34 +38.0%Dividends paid−1,504.65Fiscal year 2018Operating cash flow22,469.19Capital expenditure−3,302.93Free cash flow19,166.27 +31.2%Dividends paid−4,427.70Fiscal year 2019Operating cash flow27,711.77Capital expenditure−4,012.66Free cash flow23,699.11 +23.7%Dividends paid−13,867.03Fiscal year 2020Operating cash flow9,186.70Capital expenditure−5,032.32Free cash flow4,154.39 −82.5%Dividends paid−8,734.35Fiscal year 2021Operating cash flow22,536.02Capital expenditure−6,117.59Free cash flow16,418.43 +295.2%Dividends paid−2,771.29Fiscal year 2022Operating cash flow36,234.57Capital expenditure−8,767.72Free cash flow27,466.85 +67.3%Dividends paid−13,356.95Fiscal year 2023Operating cash flow19,800.55Capital expenditure−9,349.89Free cash flow10,450.67 −62.0%Dividends paid−5,570.88Fiscal year 2024Operating cash flow45,127.52Capital expenditure−9,521.04Free cash flow35,606.48 +240.7%Dividends paid−15,565.06
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024
Operating cash flow 14,232.94 16,973.63 22,469.19 27,711.77 9,186.70 22,536.02 36,234.57 19,800.55 45,127.52
Capital expenditure −3,646.93 −2,363.28 −3,302.93 −4,012.66 −5,032.32 −6,117.59 −8,767.72 −9,349.89 −9,521.04
Free cash flow 10,586.01 14,610.34 19,166.27 23,699.11 4,154.39 16,418.43 27,466.85 10,450.67 35,606.48
Growth +38.0% +31.2% +23.7% −82.5% +295.2% +67.3% −62.0% +240.7%
Dividends paid −1,712.30 −1,504.65 −4,427.70 −13,867.03 −8,734.35 −2,771.29 −13,356.95 −5,570.88 −15,565.06

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash8,410.47Total debt48,095.82Net cash (debt)−39,685.36Shareholders’ equity42,026.86Debt to equity1.14Fiscal year 2017Cash7,945.89Total debt38,403.33Net cash (debt)−30,457.45Shareholders’ equity46,434.95Debt to equity0.83Fiscal year 2018Cash6,311.74Total debt34,042.72Net cash (debt)−27,730.97Shareholders’ equity55,137.91Debt to equity0.62Fiscal year 2019Cash7,075.76Total debt33,226.97Net cash (debt)−26,151.21Shareholders’ equity54,413.79Debt to equity0.61Fiscal year 2020Cash5,082.31Total debt41,808.41Net cash (debt)−36,726.10Shareholders’ equity49,899.86Debt to equity0.84Fiscal year 2021Cash14,549.91Total debt85,854.65Net cash (debt)−71,304.74Shareholders’ equity68,489.55Debt to equity1.25Fiscal year 2022Cash15,401.06Total debt92,936.26Net cash (debt)−77,535.20Shareholders’ equity86,154.93Debt to equity1.08Fiscal year 2023Cash12,336.12Total debt90,265.52Net cash (debt)−77,929.40Shareholders’ equity75,706.63Debt to equity1.19Fiscal year 2024Cash14,054.48Total debt108,677.09Net cash (debt)−94,622.61Shareholders’ equity79,854.60Debt to equity1.36
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024
Cash 8,410.47 7,945.89 6,311.74 7,075.76 5,082.31 14,549.91 15,401.06 12,336.12 14,054.48
Total debt 48,095.82 38,403.33 34,042.72 33,226.97 41,808.41 85,854.65 92,936.26 90,265.52 108,677.09
Net cash (debt) −39,685.36 −30,457.45 −27,730.97 −26,151.21 −36,726.10 −71,304.74 −77,535.20 −77,929.40 −94,622.61
Shareholders’ equity 42,026.86 46,434.95 55,137.91 54,413.79 49,899.86 68,489.55 86,154.93 75,706.63 79,854.60
Debt to equity 1.14 0.83 0.62 0.61 0.84 1.25 1.08 1.19 1.36

In billions of COP, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2024 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024
Margins
29.4% 34.0% 40.0% 37.1% 25.2% 39.5% 44.0% 38.4% 35.1%
18.4% 28.9% 32.7% 29.4% 14.3% 32.3% 37.7% 29.2% 28.8%
16.1% 24.6% 30.0% 27.6% 9.5% 28.8% 33.9% 25.8% 23.0%
5.0% 12.8% 16.6% 19.2% 3.2% 17.0% 19.8% 14.7% 10.4%
21.8% 26.1% 27.9% 33.2% 8.3% 17.9% 17.2% 7.3% 26.7%
Spending
7.5% 4.2% 4.8% 5.6% 10.0% 6.7% 5.5% 6.5% 7.1%
58.3% 42.1% 40.1% 23.9% 42.7% 33.3% 35.0% 31.2% 39.8%
Returns
5.8% 15.5% 20.6% 25.3% 3.2% 22.8% 36.7% 27.8% 17.3%
2.1% 6.1% 9.1% 10.3% 1.2% 6.5% 10.4% 7.5% 4.6%
Balance and payout
1.14 0.83 0.62 0.61 0.84 1.25 1.08 1.19 1.36
63.4% 59.1% 54.2% 56.5% 61.1% 62.6% 62.4% 64.2% 64.5%
70.0% 21.0% 38.9% 100.9% 550.5% 17.7% 42.3% 26.5% 112.5%
16.2% 10.3% 23.1% 58.5% 210.2% 16.9% 48.6% 53.3% 43.7%

Shown in COP as filed; the screener converts to dollars.