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Updated: Sep 6, 2026
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Ecopetrol

NYSE:EC·Stock Analysis Report
Day Range
$17.54 - $18.07
Market Cap
35.57B
P/E Ratio
11.5109
Avg Value
$13.39
Year Range
$8.58 - $18.19
$17.75-$0.32 (-1.77%)
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General Information
Ecopetrol SA is engaged in commercial and industrial activities related to the exploration, exploitation, refining, transportation, storage, distribution, and marketing of hydrocarbons, their derivatives, and products, as well as the electric power transmission services, design, development, construction, operation, and maintenance of road and energy infrastructure projects and the provision of information technology and telecommunications services.

The operations of the company are performed through four business segments: Exploration and Production, Transport and Logistics, Refining and Petrochemical, and Electric Power Transmission and Toll Roads Concessions. The majority of the company's revenue is generated from the Exploration and Production segment.

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Ecopetrol (EC) Stock Graph
3
How We Grade Ecopetrol (EC)

We grade stocks based on past performance, their future growth potential, intrinsic value, dividend history, and overall financial health.

The chart below shows how we grade Ecopetrol (EC) across the board compared to its closest peers.

4
Benzinga Edge Rankings

Benzinga Edge stock rankings give you four critical scores to help you identify the strongest and weakest stocks to buy and sell.

60.6

Growth measures a stock's combined historical expansion in earnings and revenue across multiple time periods, with emphasis on both long-term trends and recent performance.

98.12

Value is a percentile-ranked composite metric that evaluates a stock's relative worth by comparing its market price to fundamental measures of the company's assets, earnings, sales, and operating performance.

Momentum measures a stock's relative strength based on its price movement patterns and volatility over multiple timeframes, ranked as a percentile against other stocks.

Stock Score Locked: Want to See it?
Benzinga Rankings give you vital metrics on any stock – anytime.
5
Peer Ratings

See how Ecopetrol compares to its peers in these key performance metrics from Benzinga Rankings.

Top Peers
Value
Quality
Growth
Momentum
Short
Medium
Long
YPFYPF
76.39
N/A
68.35
99.95
CVECenovus Energy
87.21
N/A
78.59
94.68
OXYOccidental Petroleum
81.57
N/A
82.73
77.35
EEni
93.67
N/A
39.68
86.77
Short: price trend over the last couple of months
Medium: price trend over the last couple of quarters
Long: price trend over the past year
Stock Score Locked: Want to See it?
Benzinga Rankings give you vital metrics on any stock – anytime.
6
Past Performance
How has Ecopetrol (EC) performed over the past 5 years?

The two main factors that we consider when analyzing past performance is overall return and volatility

Using these two metrics, we can determine if this stock gave its investors enough return for the risk that they took on by owning it. This is measured by the sharpe ratio, which has been used as a primary measure of risk/reward trade-off for almost 60 years.

This ratio can be interpreted as the amount of return an investor has received for the amount of risk that they took on by owning the stock over that timeframe.

Ecopetrol (EC) sharpe ratio over the past 5 years is 0.2832 which is considered to be below average compared to the peer average of 1.5045

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Company Financials
INCOME STATEMENT
The income statement also known as the profit and loss statement, primarily focuses on the company's revenues and expenses during a particular period.

The main purpose of an income statement is to convey details of profitability and business activities. Below, is EC's income statement for the previous four years along with its trailing-twelve- month profit & loss.

FISCAL YEAR (BIL.)
2022 ($)
2023 ($)
2024 ($)
2025 ($)
TTM ($)
Total Revenue
159,508.28
143,082.02
133,330.43
119,693.00
116,953.00
Operating Revenue
159,508.28
143,082.02
133,330.43
119,693.00
116,953.00
Cost Of Revenue
89,450.91
88,177.26
86,480.15
82,057.00
78,858.00
Gross Profit
70,057.38
54,904.76
46,850.27
37,636.00
38,095.00
Operating Expense
9,138.44
10,624.37
10,504.71
10,054.00
10,329.00
Selling General And Administration
4,497.15
6,457.00
Research and Development
Operating Income
60,918.94
44,280.39
36,345.57
27,582.00
27,766.00
Net Non-Operating Interest Income Expense
-6,983.82
-6,867.45
-8,610.55
-8,976.00
-9,291.00
Other Income Expense
-472.93
-621.36
2,972.40
255.00
293.00
Other Non-Operating Income Expenses
Pre-Tax Income
53,462.19
36,791.59
30,707.42
18,861.00
18,768.00
Tax Provision
17,057.87
7,603.01
12,209.54
4,418.00
4,735.00
Net Income
33,389.87
27,302.23
13,841.15
10,487.00
10,247.00
Net Income Common Stockholders
33,389.87
18,257.00
13,841.15
10,487.00
10,247.00
Total Operating Income As Reported
60,135.54
41,651.80
38,463.00
26,679.00
26,863.00
Total Expenses
98,589.34
98,801.62
96,984.86
92,111.00
89,187.00
Net Income From Continuing And Discontinued Operation
33,389.87
27,302.23
13,841.15
10,487.00
10,247.00
Normalized Income
34,279.94
28,891.92
13,847.00
10,782.01
10,503.02
Interest Income
Interest Expense
Net Interest Income
-6,983.82
-6,867.45
-8,610.55
-8,976.00
-9,291.00
EBIT
60,254.83
45,000.14
40,550.10
29,021.00
28,245.00
EBITDA
72,383.83
51,733.81
52,174.38
41,238.00
40,462.00
Reconciled Cost Of Revenue
86,409.10
81,929.34
86,480.15
82,057.00
78,858.00
Reconciled Depreciation
12,128.99
Normalized EBITDA
73,625.50
53,160.32
52,183.38
41,693.00
40,855.00
Tax Rate For Calcs
0.00
0.00
0.00
0.00
0.37
Tax Effect Of Unusual Items
-351.61
163.19
-3.15
-159.99
-136.98
BALANCE SHEET
The balance sheet is a snapshot of a companies financials during a particular period in time.

It breaks down what company owns (assets) and what a company owes (liabilities), in order to give investors an overview of its capital structure.

FISCAL YEAR (BIL.)
2022 ($)
2023 ($)
2024 ($)
2025 ($)
TTM ($)
Total Assets
302,792.43
280,141.09
298,242.16
282,220.00
Current Assets
77,276.85
68,615.11
60,659.81
53,445.00
Total Non-Current Assets
225,515.59
211,525.98
237,582.35
228,775.00
Total Liabilities Net Minority Interest
188,889.34
179,888.61
192,328.72
175,481.00
Current Liabilities
56,782.34
43,564.56
39,635.47
34,514.00
Other Non-Current Liabilities
2,403.15
2,702.84
2,329.35
1,766.00
Total Equity Gross Minority Interest
113,903.09
100,252.48
105,913.44
106,739.00
Stockholders Equity
Total Capitalization
178,155.86
164,931.65
187,375.66
180,503.00
Common Stock Equity
86,154.93
75,706.63
79,854.60
81,383.00
Net Tangible Assets
62,658.21
56,145.15
58,295.53
62,510.00
Working Capital
20,494.51
25,050.54
21,024.33
18,931.00
Invested Capital
192,096.84
170,343.67
194,127.84
190,583.00
Tangible Book Value
62,658.21
56,145.15
58,295.53
62,510.00
Total Debt
115,134.84
105,815.53
119,965.03
109,200.00
Net Debt
92,608.13
84,025.42
102,124.43
100,532.00
Share Issued
41.12
41.12
41.12
41.12
Ordinary Shares Number
41.12
41.12
41.12
41.12
CASH FLOW STATEMENTS
A companies statement of cash flows gives an investor a break down of the cash inflows and outflows from a companies operations and investment activities.
FISCAL YEAR (BIL.)
2022 ($)
2023 ($)
2024 ($)
2025 ($)
TTM ($)
Cash Flow from Continuing Operating Activities
36,234.57
Net Income from Continuing Operations
35,199.48
Depreciation and Amortization
Deferred Tax
18,963.94
Deferred Income Tax
18,963.94
Stock-Based Compensation
Other Non-Cash Items
7,521.10
Change in Working Capital
-31,485.37
Change in Receivables
Changes in Account Receivables
Change in Inventory
Change in Payables and Accrued Expense
Change in Payable
Change in Account Payable
Change in Other Current Assets
Change in Other Current Liabilities
Change in Other Working Capital
Cash Flow from Continuing Investing Activities
-18,095.03
Net PPE Purchase and Sale
-20,730.26
Net Business Purchase and Sale
-329.38
Purchase of Business
-329.38
Net Investment Purchase and Sale
1,302.39
Purchase of Investment
Sale of Investment
Net Other Investing Changes
372.63
Financing Cash Flow
-18,933.04
Cash Flow from Continuing Financing Activities
-18,933.04
Net Issuance Payments of Debt
1.98
Net Long-Term Debt Issuance
1.98
Long-Term Debt Issuance
Long-Term Debt Payments
-16,845.05
Net Short-Term Debt Issuance
Net Common Stock Issuance
Common Stock Issuance
Common Stock Payments
Cash Dividends Paid
-13,357.95
Net Other Financing Charges
End Cash Position
52,421.81
Changes in Cash
-793.50
Beginning Cash Position
51,570.75
Capital Expenditure
-21,877.77
Issuance of Capital Stock
Issuance of Debt
Repayment of Debt
-16,845.05
Repurchase of Capital Stock
Free Cash Flow
14,356.80