When do several linear operators share an invariant cone?

We establish a criterion for a finite family of matrices to possess a common invariant cone. The criterion reduces the problem of existence of an invariant cone to equality of two special numbers that depend on the family. In spite of theoretical simplicity, the practical use of the criterion may be difficult. We show that the problem of existence of a common invariant cone for four matrices with integral entries is algorithmically undecidable. Corollaries of the criterion, which give sufficient and necessary conditions, are derived. Finally, we introduce a “co-directional number” of several matrices. We prove that this parameter is close to zero iff there is a small perturbation of matrices, after which they get an invariant cone. An algorithm for its computation is presented.