EC

MKT CAP:$28B

Ecopetrol S.A.

Market Cap

$28B

Energy·Oil & Gas Integrated· Colombia·NYSE

Energy·Oil & Gas Integrated·NYSE

Stock Price

$13.81+$3.59 (+35.18%)

Apr 24, 2026

Company Details

Ecopetrol S.A. operates as an integrated energy company. The company operates through four segments: Exploration and Production; Transport and Logistics; Refining, Petrochemical and Biofuels; and Electric Power Transmission and Toll Roads C...

CEO

Ricardo Roa Barragan

IPO Date

Sep 18, 2008

Website

www.ecopetrol.com.co

Key Metrics TTM

Revenue

$27.4B

— YoY

Net Income

$3.0B

EPS (Diluted)

$1.44

Free Cash Flow

$3.9B

Revenue / Share

$13.46

Gross Margin

33.7%

Operating Margin

25.2%

Net Margin

10.9%

FCF Margin

14.4%

P/S

1.0x

P/E

9.6x

Earnings Reports

Q1 2026

May 6, 2026

PENDING

FY 2025

Dec 30, 2025

$31.2BEPS $1.14

Q4 2025

Mar 4, 2026

$8.0BEPS $0.20

Q3 2025

Sep 30, 2025

$8.4BEPS $0.35

Q3 2021

Sep 29, 2021

$6.5BEPS $0.52

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 16	$2.9B	$852M	$448M
Q2 16	$3.3B	$954M	$695M
Q3 18	$5.0B	$2.0B	$1.6B
Q1 19	$4.5B	$1.6B	$1.4B
Q3 21	$6.5B	$2.5B	$2.0B
Q3 25	$8.4B	$2.8B	$2.1B
Q4 25	$8.0B	$2.4B	$1.5B

Valuation

Quarter	P/S	P/E
Q1 16	—	—
Q2 16	—	—
Q3 18	—	—
Q1 19	2.9x	24.1x
Q3 21	1.5x	10.1x
Q3 25	0.8x	5.7x
Q4 25	0.7x	6.8x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 16	$1.0B	$646M
Q2 16	$217M	-$51M
Q3 18	$2.3B	$1.2B
Q1 19	$1.3B	$1.1B
Q3 21	$1.3B	$837M
Q3 25	$2.5B	$1.1B
Q4 25	$1.9B	$927M

Capital Expenditures

Quarter	CapEx
Q1 16	$398M
Q2 16	$268M
Q3 18	$1.1B
Q1 19	$170M
Q3 21	$472M
Q3 25	$1.4B
Q4 25	$934M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 21	+122.5%	+82.7%
Q3 25	+153.9%	+142.8%
Q4 25	+59.2%	+90.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 16	$0	0.0%
Q2 16	$0	0.0%
Q3 18	$0	0.0%
Q1 19	$0	0.0%
Q3 21	$0	0.0%
Q3 25	$0	0.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	G&A	SG&A
Q1 16	$380M	—
Q2 16	$187M	—
Q3 18	$166M	—
Q1 19	$193M	—
Q3 21	$399M	—
Q3 25	$687M	—
Q4 25	—	$885M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$3.9B	$462M	$4.4B
Q2 22	$2.8B	$321M	$3.2B
Q3 22	$3.6B	$626M	$4.2B
Q4 22	$4.3B	$326M	$4.6B
Q1 23	$4.3B	$472M	$4.8B
Q2 23	$3.2B	$255M	$3.4B
Q3 23	$3.4B	$491M	$3.9B
Q4 23	$3.5B	$522M	$4.0B
Q1 24	$4.3B	$477M	$4.7B
Q2 24	$3.7B	$592M	$4.3B
Q3 24	$4.0B	$628M	$4.6B
Q4 24	$3.9B	$239M	$4.2B
Q1 25	$4.0B	$709M	$4.7B
Q2 25	$2.8B	$1.2B	$4.0B
Q3 25	$2.9B	$945M	$3.8B
Q4 25	$3.0B	$515M	$3.5B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 16	2.06B	—	—
Q2 16	2.06B	0.0%	—
Q3 18	2.06B	0.0%	—
Q1 19	2.06B	0.0%	—
Q3 21	2.06B	0.0%	0.0%
Q3 25	2.06B	+0.0%	+0.0%
Q4 25	2.03B	-1.2%	-1.2%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 16	$336.6K	9K
Q2 16	$377.2K	9K
Q3 18	$428.9K	12K
Q1 19	$365.4K	12K
Q3 21	$467.9K	14K
Q3 25	$427.1K	20K
Q4 25	$407.5K	20K

Revenue / Employee