Ecopetrol S.A. (EC) Income Statement
EC 2025 at a glance
Fiscal year ended December 31, 2025 · COPEC revenue and net income
Where EC's revenue goes
2025Each bar shows an amount and its share of revenue. EC kept 7.5% of revenue as net income.
EC profit margins
EC growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −16.4% | −11.3% | +17.3% | +7.9% |
| Gross profit | −25.2% | −20.6% | +22.6% | +8.6% |
| Operating income | −35.5% | −25.6% | +28.2% | +27.8% |
| Net income | −39.3% | −35.7% | +39.5% | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
EC income statement in COP
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | COP 111.48T | COP 133.33T | COP 143.19T | COP 159.61T | COP 91.88T | COP 50.22T | COP 71.49T | COP 68.60T | COP 55.95T | COP 48.49T |
| Cost of revenue | COP 76.43T | COP 86.48T | COP 88.18T | COP 89.46T | COP 55.58T | COP 37.57T | COP 44.97T | COP 41.18T | COP 36.91T | COP 34.25T |
| Gross profit | COP 35.05T | COP 46.85T | COP 55.01T | COP 70.15T | COP 36.30T | COP 12.66T | COP 26.52T | COP 27.42T | COP 19.05T | COP 14.23T |
| Research & development | — | — | — | — | — | — | COP 0 | COP 0 | COP 0 | COP 0 |
| Sales, general & admin | COP 8.81T | COP 6.72T | COP 6.48T | COP 5.39T | COP 3.90T | COP 4.05T | COP 2.86T | COP 2.36T | COP 2.13T | COP 2.06T |
| Total operating expenses | COP 10.23T | COP 8.39T | COP 13.25T | COP 9.92T | COP 6.60T | COP 5.47T | COP 5.49T | COP 4.96T | COP 2.87T | COP 5.33T |
| Operating income | COP 24.83T | COP 38.46T | COP 41.76T | COP 60.23T | COP 29.70T | COP 7.18T | COP 21.03T | COP 22.46T | COP 16.17T | COP 8.90T |
| Interest income | COP 4.96T | COP 1.63T | COP 1.88T | COP 6.07T | COP 3.27T | COP 299.25B | COP 851.49B | COP 1.49T | COP 1.20T | COP 495.96B |
| Interest expense | COP 7.94T | COP 8.48T | COP 7.58T | COP 6.59T | COP 3.65T | COP 2.40T | COP 1.91T | COP 2.72T | COP 2.45T | COP 2.79T |
| Income before taxes | COP 17.55T | COP 30.71T | COP 36.90T | COP 54.16T | COP 26.43T | COP 4.78T | COP 19.72T | COP 20.61T | COP 13.77T | COP 7.79T |
| Income taxes | COP 5.51T | COP 12.21T | COP 11.52T | COP 18.96T | COP 8.80T | COP 2.04T | COP 4.72T | COP 8.26T | COP 5.80T | COP 4.54T |
| Net income | COP 8.40T | COP 13.84T | COP 21.06T | COP 31.60T | COP 15.65T | COP 1.59T | COP 13.74T | COP 11.38T | COP 7.18T | COP 2.45T |
| EBITDA | COP 39.95T | COP 55.75T | COP 59.83T | COP 73.81T | COP 40.72T | COP 17.36T | COP 30.96T | COP 31.39T | COP 25.19T | COP 18.74T |
| Gross margin | 31.4% | 35.1% | 38.4% | 44.0% | 39.5% | 25.2% | 37.1% | 40.0% | 34.0% | 29.4% |
| Operating margin | 22.3% | 28.8% | 29.2% | 37.7% | 32.3% | 14.3% | 29.4% | 32.7% | 28.9% | 18.4% |
| Net margin | 7.5% | 10.4% | 14.7% | 19.8% | 17.0% | 3.2% | 19.2% | 16.6% | 12.8% | 5.0% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | COP 37.15T | COP 28.41T | COP 28.47T | COP 29.84T | COP 29.67T | COP 31.36T | COP 34.79T | COP 34.61T | COP 32.63T | COP 31.30T | COP 31.78T | COP 35.13T |
| Cost of revenue | COP 22.25T | COP 17.37T | COP 20.07T | COP 19.87T | COP 21.16T | COP 20.70T | COP 20.41T | COP 22.64T | COP 20.58T | COP 19.06T | COP 24.42T | COP 20.61T |
| Gross profit | COP 14.90T | COP 11.03T | COP 8.39T | COP 9.97T | COP 8.51T | COP 10.66T | COP 14.39T | COP 11.96T | COP 12.05T | COP 12.24T | COP 7.36T | COP 14.53T |
| Sales, general & admin | COP 1.60T | COP 2.45T | COP 2.72T | COP 2.45T | COP 2.58T | COP 2.18T | COP 4.15T | COP 2.23T | COP 2.51T | COP 2.01T | COP 2.01T | COP 1.91T |
| Total operating expenses | COP 3.08T | COP 2.54T | COP 3.16T | COP 2.63T | COP 2.87T | COP 2.28T | COP 5.45T | COP 2.66T | COP 2.51T | COP 2.44T | COP 2.81T | COP 2.71T |
| Operating income | COP 11.81T | COP 8.50T | COP 5.24T | COP 7.33T | COP 5.64T | COP 8.38T | COP 8.94T | COP 9.31T | COP 9.54T | COP 9.80T | COP 4.55T | COP 11.82T |
| Interest income | COP 372.00B | — | COP 1.38T | COP 1.16T | COP 1.05T | COP 1.36T | COP 1.36T | COP 1.25T | — | — | COP 506.30B | — |
| Interest expense | COP 2.06T | COP 2.71T | COP 1.95T | — | COP 2.24T | COP 2.33T | — | COP 1.99T | COP 2.02T | COP 2.02T | COP 2.25T | COP 1.91T |
| Income before taxes | COP 10.43T | COP 6.03T | COP 3.40T | COP 5.48T | COP 3.74T | COP 6.17T | COP 7.70T | COP 7.37T | COP 7.63T | COP 8.00T | COP 4.13T | COP 11.29T |
| Income taxes | COP 3.88T | COP 2.24T | COP 972.93B | COP 1.71T | COP 1.28T | COP 1.94T | COP 2.67T | COP 2.26T | COP 3.23T | COP 2.92T | −COP 752.82B | COP 5.31T |
| Net income | COP 5.60T | COP 2.87T | COP 1.49T | COP 2.56T | COP 1.81T | COP 3.13T | COP 3.90T | COP 3.65T | COP 3.38T | COP 4.01T | COP 4.23T | COP 5.09T |
| EBITDA | COP 15.15T | COP 12.27T | COP 8.68T | COP 9.55T | COP 10.47T | COP 12.34T | COP 13.21T | COP 13.46T | COP 13.37T | COP 13.54T | COP 8.42T | COP 16.91T |
| Gross margin | 40.1% | 38.8% | 29.5% | 33.4% | 28.7% | 34.0% | 41.4% | 34.6% | 36.9% | 39.1% | 23.2% | 41.3% |
| Operating margin | 31.8% | 29.9% | 18.4% | 24.6% | 19.0% | 26.7% | 25.7% | 26.9% | 29.2% | 31.3% | 14.3% | 33.6% |
| Net margin | 15.1% | 10.1% | 5.2% | 8.6% | 6.1% | 10.0% | 11.2% | 10.5% | 10.3% | 12.8% | 13.3% | 14.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in COP as reported in EC's financial statements (latest annual report filed April 30, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
EC financial results
In fiscal year 2025 (ended December 31, 2025), Ecopetrol reported revenue of COP 111.48 trillion, down 16.4% from the year before. It had net income of COP 8.40 trillion (down 39.3%), a net profit margin of 7.5%. Over five years revenue grew at an average rate of 17.3% a year. Figures are in COP, the currency of its financial statements.
See the EC stock overview for the latest quote and news, or the EC chart for price history and technical indicators.
EC income statement FAQ
What is Ecopetrol's annual revenue?
Ecopetrol reported total revenue of COP 111.48 trillion for fiscal year 2025, which ended on December 31, 2025. That was down 16.4% from COP 133.33 trillion the previous year.
Is Ecopetrol profitable?
Yes. Ecopetrol reported net income of COP 8.40 trillion in fiscal 2025, a net profit margin of 7.5%; its operating margin was 22.3%.
What is Ecopetrol's gross margin?
Ecopetrol's gross margin was 31.4% in fiscal 2025: for every $100 of revenue, Ecopetrol kept $31 after the direct cost of its products and services.
How fast is Ecopetrol growing?
Revenue grew 17.3% a year on average over the last five fiscal years, from COP 50.22 trillion to COP 111.48 trillion.
When will Ecopetrol report its next earnings?
Ecopetrol is expected to report results for the quarter ending September 30, 2026 on November 10, 2026.
When does Ecopetrol's fiscal year end?
Ecopetrol's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on April 30, 2026.