NYSE : PSX
Phillips 66 — Financial statements
Energy · Oil & Gas Refining & Marketing · United States
Last price 273.61 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 106.73B
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Financial statements
Phillips 66 (PSX) reported revenue of 168.19B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 168.19B | 132.38B | 143.15B | 147.40B | 169.99B | 111.48B |
| Revenue | 168.19B | 132.38B | 143.15B | 147.40B | 169.99B | 111.48B |
| Cost of Revenue | 142.83B | 116.09B | 129.96B | 128.09B | 149.93B | 102.10B |
| Gross Profit | 25.36B | 16.28B | 13.19B | 19.31B | 20.06B | 9.37B |
| Selling, General & Admin | 2.24B | 2.44B | 2.81B | 2.31B | 1.99B | 1.74B |
| Other Operating Expenses | 7.74B | 7.17B | 6.22B | 6.79B | 6.58B | 5.55B |
| Operating Expenses | 11.57B | 11.90B | 11.14B | 11.08B | 10.20B | 8.90B |
| Operating Income | 13.79B | 4.38B | 2.05B | 8.23B | 9.85B | 478.00M |
| Interest Expense | -1.14B | -1.04B | -907.00M | -897.00M | -619.00M | -581.00M |
| Interest & Investment Income | 141.00M | 141.00M | 158.00M | 269.00M | 82.00M | 11.00M |
| Earnings From Equity Investments | 1.57B | 762.00M | 1.78B | 2.02B | 2.97B | 2.90B |
| Currency Exchange Gain (Loss) | -40.00M | 1.00M | -11.00M | -22.00M | 9.00M | -1.00M |
| Other Non Operating Income (Expenses) | 474.00M | 225.00M | 37.00M | 29.00M | -4.00M | 44.00M |
| EBT Excluding Unusual Items | 14.80B | 4.47B | 3.11B | 9.63B | 12.29B | 2.85B |
| Merger & Restructuring Charges | -964.00M | -964.00M | -297.00M | -215.00M | -178.00M | |
| Gain (Loss) on Sale of Investments | 933.00M | -15.00M | -38.00M | -433.00M | 167.00M | |
| Gain (Loss) on Sale of Assets | 2.10B | 2.98B | 321.00M | 115.00M | 7.00M | 18.00M |
| Asset Writedown | -1.08B | -1.06B | -456.00M | -24.00M | -60.00M | -1.30B |
| Other Unusual Items | 3.01B | |||||
| Pretax Income | 15.79B | 5.42B | 2.67B | 9.47B | 14.64B | 1.74B |
| Income Tax Expense | 3.13B | 892.00M | 500.00M | 2.23B | 3.25B | 146.00M |
| Earnings From Continuing Operations | 12.66B | 4.53B | 2.17B | 7.24B | 11.39B | 1.59B |
| Minority Interest in Earnings | -88.00M | -125.00M | -58.00M | -224.00M | -367.00M | -277.00M |
| Net Income | 12.58B | 4.40B | 2.12B | 7.01B | 11.02B | 1.32B |
| Preferred Dividends & Other Adjustments | 9.00M | 9.00M | 10.00M | 11.00M | 10.00M | 11.00M |
| Net Income to Common | 12.57B | 4.39B | 2.11B | 7.00B | 11.01B | 1.31B |
| Shares Outstanding (Basic) | 400.89M | 406.01M | 420.17M | 450.14M | 471.50M | 440.03M |
| Shares Outstanding (Diluted) | 403.73M | 408.05M | 421.89M | 453.21M | 473.73M | 440.36M |
| EPS (Basic) | 31.35 | 10.82 | 5.01 | 15.56 | 23.36 | 2.97 |
| EPS (Diluted) | 31.15 | 10.79 | 4.99 | 15.48 | 23.27 | 2.97 |
| Free Cash Flow | 12.36B | 2.73B | 2.33B | 4.87B | 8.93B | 4.16B |
| Free Cash Flow Per Share | 30.61 | 6.69 | 5.53 | 10.75 | 18.84 | 9.44 |
| Dividend Per Share | 5.01 | 4.75 | 4.50 | 4.20 | 3.83 | 3.62 |
| Gross Margin | 15.08% | 12.30% | 9.21% | 13.10% | 11.80% | 8.41% |
| Operating Margin | 8.20% | 3.31% | 1.43% | 5.59% | 5.80% | 0.43% |
| Profit Margin | 7.47% | 3.32% | 1.47% | 4.75% | 6.48% | 1.17% |
| Free Cash Flow Margin | 7.35% | 2.06% | 1.63% | 3.31% | 5.25% | 3.73% |
| EBITDA | 15.38B | 6.67B | 4.16B | 10.21B | 11.48B | 2.08B |
| EBITDA Margin | 9.14% | 5.04% | 2.91% | 6.93% | 6.75% | 1.87% |
| D&A For EBITDA | 1.59B | 2.29B | 2.11B | 1.98B | 1.63B | 1.60B |
| EBIT | 13.79B | 4.38B | 2.05B | 8.23B | 9.85B | 478.00M |
| EBIT Margin | 8.20% | 3.31% | 1.43% | 5.59% | 5.80% | 0.43% |
| Effective Tax Rate | 19.81% | 16.46% | 18.69% | 23.55% | 22.19% | 8.39% |
| Revenue as Reported | 172.88B | 136.56B | 145.50B | 149.89B | 175.70B | 114.85B |
| Advertising Expenses | 62.00M | 51.00M | 54.00M | 56.00M | 52.00M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 5.85B | 1.12B | 1.74B | 3.32B | 6.13B | 3.15B |
| Cash & Short-Term Investments | 5.85B | 1.12B | 1.74B | 3.32B | 6.13B | 3.15B |
| Receivables | 13.23B | 9.77B | 11.03B | 11.73B | 10.98B | 7.47B |
| Inventory | 6.25B | 5.10B | 4.00B | 3.75B | 3.28B | 3.39B |
| Prepaid Expenses | 2.27B | 1.16B | 1.04B | 995.00M | 1.31B | 607.00M |
| Other Current Assets | 324.00M | 131.00M | 99.00M | 143.00M | 221.00M | 79.00M |
| Total Current Assets | 27.92B | 17.27B | 17.91B | 19.94B | 21.92B | 14.70B |
| Property, Plant & Equipment | 39.73B | 40.90B | 36.56B | 36.83B | 36.16B | 23.48B |
| Long-Term Investments | 12.60B | 11.60B | 14.20B | 14.92B | 14.62B | 13.51B |
| Goodwill | 1.43B | 1.43B | 1.57B | 1.55B | 1.49B | 1.48B |
| Other Intangible Assets | 968.00M | 978.00M | 1.16B | 920.00M | 831.00M | 813.00M |
| Other Long-Term Assets | 3.30B | 1.19B | 994.00M | 960.00M | 1.09B | 644.00M |
| Total Assets | 85.95B | 73.68B | 72.58B | 75.50B | 76.44B | 55.59B |
| Accounts Payable | 14.12B | 8.87B | 10.30B | 10.90B | 11.32B | 8.46B |
| Accrued Expenses | 2.74B | 1.26B | 1.35B | 1.72B | 2.05B | 1.10B |
| Short-Term Debt | 500.00M | |||||
| Current Portion of Long-Term Debt | 1.04B | 1.00B | 1.80B | 1.46B | 6.00M | 1.46B |
| Current Portion of Leases | 608.00M | 451.00M | 387.00M | 305.00M | 376.00M | |
| Current Income Taxes Payable | 2.69B | 1.36B | 1.06B | 1.20B | 1.40B | 1.25B |
| Other Current Liabilities | 184.00M | 226.00M | 125.00M | 194.00M | 309.00M | 152.00M |
| Total Current Liabilities | 20.77B | 13.33B | 15.09B | 15.86B | 15.89B | 12.80B |
| Long-Term Debt | 17.48B | 18.37B | 17.91B | 17.60B | 16.43B | 12.70B |
| Long-Term Leases | 1.60B | 1.26B | 1.07B | 979.00M | 982.00M | |
| Pension & Post-Retirement Benefits | 484.00M | 573.00M | 703.00M | 630.00M | 937.00M | 1.05B |
| Long-Term Deferred Tax Liabilities | 7.69B | 7.31B | 7.10B | 7.42B | 6.67B | 5.47B |
| Other Long-Term Liabilities | 4.02B | 2.26B | 2.06B | 1.27B | 1.43B | 942.00M |
| Total Liabilities | 50.45B | 43.44B | 44.12B | 43.85B | 42.34B | 33.96B |
| Common Stock | 7.00M | 7.00M | 7.00M | 7.00M | 7.00M | 7.00M |
| Additional Paid-In Capital | 20.14B | 19.95B | 19.79B | 19.65B | 19.79B | 20.50B |
| Retained Earnings | 41.38B | 33.24B | 30.77B | 30.55B | 25.43B | 16.22B |
| Treasury Stock | -26.94B | -23.93B | -22.75B | -19.34B | -15.28B | -17.12B |
| Comprehensive Income & Other | -254.00M | -167.00M | -407.00M | -282.00M | -460.00M | -445.00M |
| Total Common Equity | 34.33B | 29.09B | 27.41B | 30.58B | 29.49B | 19.17B |
| Minority Interest | 1.17B | 1.15B | 1.05B | 1.07B | 4.61B | 2.47B |
| Shareholders' Equity | 35.50B | 30.24B | 28.46B | 31.65B | 34.11B | 21.64B |
| Total Liabilities & Equity | 85.95B | 73.68B | 72.58B | 75.50B | 76.44B | 55.59B |
| Total Debt | 18.53B | 21.59B | 21.42B | 20.51B | 18.22B | 15.52B |
| Net Cash (Debt) | -12.68B | -20.47B | -19.68B | -17.19B | -12.08B | -12.37B |
| Net Cash Per Share | -31.41 | -50.17 | -46.65 | -37.93 | -25.51 | -28.09 |
| Filing Date Shares Outstanding | 390.07M | 400.74M | 407.70M | 427.82M | 463.91M | 438.46M |
| Total Common Shares Outstanding | 390.07M | 401.14M | 408.39M | 430.46M | 465.84M | 438.25M |
| Working Capital | 7.15B | 3.94B | 2.82B | 4.08B | 6.03B | 1.90B |
| Book Value Per Share | 88.01 | 72.53 | 67.11 | 71.05 | 63.31 | 43.73 |
| Tangible Book Value | 31.93B | 26.68B | 24.67B | 28.11B | 27.18B | 16.87B |
| Tangible Book Value Per Share | 81.86 | 66.52 | 60.41 | 65.31 | 58.34 | 38.49 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 12.58B | 4.40B | 2.12B | 7.01B | 11.02B | 1.32B |
| Depreciation & Amortization | 1.59B | 2.29B | 2.11B | 1.98B | 1.63B | 1.60B |
| Loss (Gain) From Sale of Assets | -2.10B | -2.98B | -321.00M | -115.00M | -7.00M | -7.00M |
| Asset Writedown & Restructuring Costs | 2.04B | 2.02B | 709.00M | 24.00M | 60.00M | 1.50B |
| Loss (Gain) From Sale of Investments | -925.00M | 12.00M | 38.00M | 433.00M | -365.00M | |
| Loss (Gain) on Equity Investments | -972.00M | 120.00M | -411.00M | -822.00M | -1.31B | -128.00M |
| Other Operating Activities | 1.04B | 281.00M | 602.00M | 727.00M | -1.09B | -22.00M |
| Change in Accounts Receivable | -4.21B | -508.00M | 574.00M | -696.00M | -2.07B | -922.00M |
| Change in Inventory | 1.40B | 160.00M | -278.00M | -245.00M | 74.00M | 511.00M |
| Change in Accounts Payable | 4.06B | -804.00M | -491.00M | -480.00M | 1.74B | 2.92B |
| Change in Income Taxes | 1.57B | 230.00M | -464.00M | -663.00M | 580.00M | -56.00M |
| Change in Other Net Operating Assets | -1.03B | -259.00M | 44.00M | 269.00M | -249.00M | -339.00M |
| Operating Cash Flow | 15.03B | 4.96B | 4.19B | 7.03B | 10.81B | 6.02B |
| Capital Expenditures | -2.67B | -2.23B | -1.86B | -2.15B | -1.89B | -1.86B |
| Sale of Property, Plant & Equipment | 1.58B | 3.52B | 1.08B | 392.00M | 4.00M | 27.00M |
| Cash Acquisitions | -1.47B | -3.50B | -625.00M | -263.00M | -306.00M | |
| Investment in Securities | 91.00M | 90.00M | 141.00M | 201.00M | 125.00M | 267.00M |
| Other Investing Activities | -27.00M | 24.00M | -1.20B | 35.00M | 577.00M | -306.00M |
| Investing Cash Flow | -2.50B | -2.10B | -2.46B | -1.79B | -1.49B | -1.87B |
| Long-Term Debt Issued | 8.39B | 6.27B | 6.26B | 453.00M | 1.44B | |
| Long-Term Debt Repaid | -8.77B | -4.14B | -4.25B | -2.88B | -2.95B | |
| Net Debt Issued (Repaid) | -3.43B | -379.00M | 2.13B | 2.01B | -2.43B | -1.51B |
| Issuance of Common Stock | 169.00M | 107.00M | 86.00M | 123.00M | 103.00M | 26.00M |
| Repurchase of Common Stock | -3.19B | -1.21B | -3.45B | -4.01B | -1.51B | |
| Common Dividends Paid | -2.00B | -1.92B | -1.88B | -1.88B | -1.79B | -1.58B |
| Other Financing Activities | -154.00M | -136.00M | -190.00M | -4.33B | -755.00M | -400.00M |
| Financing Cash Flow | -8.61B | -3.54B | -3.31B | -8.09B | -6.39B | -3.47B |
| Foreign Exchange Rate Adjustments | -24.00M | 50.00M | -8.00M | 43.00M | 49.00M | -42.00M |
| Net Cash Flow | 3.90B | -622.00M | -1.58B | -2.81B | 2.99B | 633.00M |
| Free Cash Flow | 12.36B | 2.73B | 2.33B | 4.87B | 8.93B | 4.16B |
| Free Cash Flow Margin | 7.35% | 2.06% | 1.63% | 3.31% | 5.25% | 3.73% |
| Free Cash Flow Per Share | 30.61 | 6.69 | 5.53 | 10.75 | 18.84 | 9.44 |
| Levered Free Cash Flow | 9.52B | 1.26B | 445.00M | 2.81B | 5.59B | 1.84B |
| Unlevered Free Cash Flow | 10.23B | 1.91B | 1.01B | 3.37B | 5.98B | 2.21B |
| Cash Interest Paid | 972.00M | 972.00M | 901.00M | 816.00M | 572.00M | 549.00M |
| Cash Income Tax Paid | 200.00M | 200.00M | 1.19B | 1.40B | 2.07B | -1.06B |
| Change in Working Capital | 1.78B | -1.18B | -615.00M | -1.81B | 68.00M | 2.12B |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 110.32B | 51.99B | 47.05B | 58.58B | 49.19B | 31.75B |
| Enterprise Value | 123.01B | 73.06B | 66.47B | 75.65B | 69.46B | 47.45B |
| Last Close Price | 282.83 | 126.39 | 107.56 | 121.71 | 91.46 | 61.14 |
| PE Ratio | 9.08 | 11.83 | 22.33 | 8.36 | 4.47 | 24.31 |
| Forward PE | 7.86 | 10.85 | 14.04 | 10.02 | 6.52 | 9.92 |
| PS Ratio | 0.66 | 0.39 | 0.33 | 0.40 | 0.29 | 0.28 |
| PB Ratio | 3.21 | 1.72 | 1.65 | 1.85 | 1.44 | 1.47 |
| P/TBV Ratio | 3.46 | 1.95 | 1.91 | 2.08 | 1.81 | 1.88 |
| P/FCF Ratio | 8.93 | 19.05 | 20.18 | 12.02 | 5.51 | 7.64 |
| P/OCF Ratio | 7.34 | 10.48 | 11.23 | 8.33 | 4.55 | 5.28 |
| PEG Ratio | 0.16 | 0.42 | 14.04 | 0.63 | 0.77 | 3.25 |
| EV/Sales Ratio | 0.73 | 0.55 | 0.46 | 0.51 | 0.41 | 0.43 |
| EV/EBITDA Ratio | 8.00 | 10.95 | 15.98 | 7.41 | 6.05 | 22.78 |
| EV/EBIT Ratio | 8.92 | 16.66 | 32.41 | 9.19 | 7.05 | 99.27 |
| EV/FCF Ratio | 9.95 | 26.77 | 28.51 | 15.52 | 7.78 | 11.41 |
| Debt / Equity Ratio | 0.52 | 0.71 | 0.75 | 0.65 | 0.53 | 0.72 |
| Debt / EBITDA Ratio | 1.15 | 2.91 | 4.50 | 1.91 | 1.53 | 5.89 |
| Debt / FCF Ratio | 1.50 | 7.91 | 9.18 | 4.21 | 2.04 | 3.73 |
| Net Debt / Equity Ratio | 0.36 | 0.68 | 0.69 | 0.54 | 0.35 | 0.57 |
| Net Debt / EBITDA Ratio | 0.82 | 3.07 | 4.73 | 1.68 | 1.05 | 5.94 |
| Net Debt / FCF Ratio | 1.03 | 7.50 | 8.44 | 3.53 | 1.35 | 2.98 |
| Asset Turnover | 2.08 | 1.81 | 1.93 | 1.94 | 2.58 | 2.02 |
| Inventory Turnover | 22.55 | 25.54 | 33.56 | 36.46 | 44.96 | 28.02 |
| Quick Ratio | 0.92 | 0.82 | 0.85 | 0.95 | 1.08 | 0.83 |
| Current Ratio | 1.34 | 1.30 | 1.19 | 1.26 | 1.38 | 1.15 |
| Return on Equity (ROE) | 39.84% | 15.43% | 7.24% | 22.02% | 40.87% | 7.39% |
| Return on Assets (ROA) | 10.64% | 3.75% | 1.73% | 6.78% | 9.33% | 0.54% |
| Return on Invested Capital (ROIC) | 22.72% | 7.41% | 3.44% | 13.25% | 19.12% | 1.25% |
| Return on Capital Employed (ROCE) | 21.20% | 7.30% | 3.60% | 13.80% | 16.30% | 1.10% |
| Earnings Yield | 11.02% | 8.47% | 4.50% | 11.98% | 22.41% | 4.15% |
| FCF Yield | 11.20% | 5.25% | 4.96% | 8.32% | 18.14% | 13.09% |
| Dividend Yield | 1.80% | 3.67% | 3.91% | 3.09% | 3.63% | 5.00% |
| Payout Ratio | 16.50% | 43.65% | 88.90% | 26.83% | 16.27% | 120.35% |
| Buyback Yield / Dilution | 1.20% | 3.28% | 6.91% | 4.33% | -7.58% | -0.19% |
| Total Shareholder Return | 3.00% | 6.94% | 10.82% | 7.42% | -3.95% | 4.81% |