This paper presents an analysis of two cone beam configurations (having focal lengths of 40 and 60 cm) for the acquisition of single photon emission computed tomography (SPECT) projection data. A three‐dimensional filtered backprojection algorithm is used to reconstruct SPECT images of cone beam projection data obtained using Monte Carlo simulations. The mathematical analysis resulted in on‐axis point source sensitivities (calculated for a distance of 15 cm from the collimator surface) for cone beam configurations that were 1.4–3 times the sensitivities of parallel‐hole and fan beam geometries having similar geometric resolutions. Cone beam collimation offers the potential for improved sensitivity for SPECT devices using large‐field‐of‐view scintillation cameras.