Phillips 66 (PSX) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$7.5	$9.41	+25.5%	—	$51B	—
Q1 26	-$0.39	$0.49	+225.6%	—	$32.5B	—
Q4 25	$2.15	$2.47	+14.9%	—	$34.1B	—
Q3 25	$2.16	$2.52	+16.7%	—	$34.5B	—
Q2 25	$1.71	$2.38	+39.2%	—	$33.3B	—
Q1 25	-$0.72	-$0.9	-25.0%	—	$30.4B	—
Q4 24	-$0.22	-$0.15	+31.8%	—	$33.7B	—
Q3 24	$1.66	$2.04	+22.9%	—	$35.5B	—
Q2 24	$1.98	$2.31	+16.7%	—	$38.1B	—
Q1 24	$2.25	$1.9	-15.6%	—	$35.8B	—
Q4 23	$2.38	$3.09	+29.8%	—	$38.3B	—
Q3 23	$4.73	$4.63	-2.1%	—	$39.6B	—
Q2 23	$3.56	$3.87	+8.7%	—	$35.1B	—
Q1 23	$3.56	$4.21	+18.3%	—	$34.4B	—
Q4 22	$4.35	$4	-8.0%	—	$40.3B	—
Q3 22	$5.04	$6.46	+28.2%	—	$45B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$10.8	—	—	$132.4B	—
FY24	—	$5.01	—	—	$143.2B	—
FY23	—	$15.6	—	—	$147.4B	—
FY22	—	$23.4	—	—	$170B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$84.3B	$102.4B	$111.5B	$107.3B	$64.1B	$111.5B	$170B	$147.4B	$143.2B	$132.4B
YoY change	-14.8%	+21.4%	+8.9%	-3.74%	-40.2%	+73.8%	+52.5%	-13.3%	-2.88%	-7.53%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	84.3B	102.4B	111.5B	107.3B	64.1B	111.5B	170B	147.4B	143.2B	132.4B
Cost of revenue	63.6B	80.7B	99.3B	96.9B	59.1B	103.7B	151.6B	130.1B	132.3B	119.3B
Gross profit	20.6B	21.6B	12.2B	10.4B	5B	7.8B	18.4B	17.3B	10.8B	13B
Gross margin	24.5%	21.1%	10.9%	9.71%	7.84%	6.97%	10.8%	11.8%	7.56%	9.84%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	1.6B	1.7B	1.7B	1.7B	1.5B	1.7B	2.2B	2.5B	2.8B	2.4B
Operating expenses	5.9B	6.4B	6.6B	6.8B	6.1B	6.9B	8.3B	8.7B	8.8B	8.9B
Operating income	1B	1.8B	5.2B	3.3B	-1.5B	468M	9.6B	8B	1.7B	3.4B
Operating margin	1.24%	1.73%	4.66%	3.04%	-2.41%	0.42%	5.66%	5.39%	1.22%	2.55%
Non-operating income, net	1.5B	2.2B	2.7B	1.4B	-2.9B	1.9B	5.6B	2.2B	1.7B	3B
Pretax income	2.2B	3.6B	7.4B	4.2B	-5B	1.7B	14.6B	9.5B	2.7B	5.4B
Income tax	547M	-1.7B	1.6B	801M	-1.3B	146M	3.2B	2.2B	500M	892M
Net income	1.6B	5.2B	5.9B	3.4B	-3.7B	1.6B	11.4B	7.2B	2.2B	4.5B
Net margin	1.95%	5.13%	5.27%	3.15%	-5.79%	1.43%	6.7%	4.91%	1.52%	3.42%
EBITDA	3.7B	4.9B	9.3B	6.8B	1.1B	5.1B	14.4B	12.3B	6.1B	7.8B
EPS	2.94	9.9	11.9	6.8	-9.06	2.97	23.4	15.6	5.01	10.8
Diluted EPS	2.92	9.85	11.8	6.77	-9.06	2.97	23.3	15.5	4.99	10.8

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	39.6B	38.3B	35.8B	38.1B	35.5B	33.7B	30.4B	33.3B	34.5B	34.1B	32.5B	51B
Cost of revenue	34.8B	34.4B	32.9B	35.1B	32.7B	31.6B	28.5B	29.9B	31B	30B	29.8B	44.2B
Gross profit	4.8B	3.9B	2.9B	3B	2.8B	2.1B	2B	3.4B	3.5B	4.2B	2.8B	6.8B
Gross margin	12.2%	10.2%	8.16%	7.88%	7.86%	6.27%	6.5%	10.3%	10.1%	12.2%	8.5%	13.2%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	669M	658M	557M	552M	1.2B	511M	519M	582M	792M	544M	537M	538M
Operating expenses	2.3B	2.2B	2B	2B	2.7B	2.1B	2.1B	2B	2.3B	2.4B	2.4B	2.3B
Operating income	2.4B	1.5B	747M	996M	45M	-42M	-395M	1.2B	965M	1.6B	114M	4.3B
Operating margin	5.93%	4.01%	2.09%	2.61%	0.13%	-0.12%	-1.3%	3.57%	2.8%	4.75%	0.35%	8.39%
Non-operating income, net	688M	184M	453M	556M	605M	104M	1.3B	204M	-495M	2B	444M	1B
Pretax income	2.8B	1.8B	964M	1.3B	413M	-13M	648M	1.1B	199M	3.5B	260M	5B
Income tax	670M	476M	203M	291M	44M	-38M	122M	212M	32M	526M	41M	1.1B
Net income	2.1B	1.3B	761M	1B	369M	25M	526M	908M	167M	2.9B	219M	3.9B
Net margin	5.41%	3.36%	2.13%	2.68%	1.04%	0.07%	1.73%	2.72%	0.48%	8.58%	0.67%	7.61%
EBITDA	3.4B	2.6B	1.9B	2B	1.2B	948M	605M	2.3B	2.2B	2.6B	1.1B	5.8B
EPS	4.72	2.87	1.74	2.39	0.82	0.01	1.19	2.15	0.32	7.2	0.51	9.59
Diluted EPS	4.69	2.86	1.73	2.38	0.82	0.01	1.18	2.15	0.32	7.17	0.51	9.55

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	45.6B	52.1B	40.6B	50.3B	30.7B	31.9B	49.1B	59.9B	47.9B	52.4B	101.7B
Enterprise value	53B	59.1B	48.7B	60.4B	44.1B	43.2B	60.1B	76B	66.2B	71B	119.7B
Shares outstanding	527.5M	515.1M	470.7M	451.4M	439.5M	440M	471.5M	450.1M	420.2M	406M	406M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	27.7	9.93	6.9	14.9	—	20	4.31	8.28	22	11.6	14.6
P/S	0.54	0.51	0.36	0.47	0.48	0.29	0.29	0.41	0.33	0.4	0.67
P/B	1.92	1.9	1.49	1.85	1.43	1.47	1.44	1.89	1.68	1.73	3.24
EV/EBITDA	14.3	12	5.24	8.83	39.8	8.52	4.18	6.16	10.9	9.15	12.1
EV/Sales	0.63	0.58	0.44	0.56	0.69	0.39	0.35	0.52	0.46	0.54	0.79
Earnings yield	3.61%	10.1%	14.5%	6.72%	—	5%	23.2%	12.1%	4.54%	8.64%	6.86%
FCF yield	0.26%	3.49%	12.2%	1.86%	-2.63%	13%	17.6%	7.69%	4.87%	5.21%	4.47%
PEG	—	—	—	—	—	—	—	—	—	—	0.04

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	24.5%	21.1%	10.9%	9.71%	7.84%	6.97%	10.8%	11.8%	7.56%	9.84%	13.2%
Operating margin	1.24%	1.73%	4.66%	3.04%	-2.41%	0.42%	5.66%	5.39%	1.22%	2.55%	8.53%
Net margin	1.95%	5.13%	5.27%	3.15%	-5.79%	1.43%	6.7%	4.91%	1.52%	3.42%	4.66%
ROE	6.93%	19.1%	21.6%	12.4%	-17.3%	7.37%	33.4%	22.9%	7.64%	15%	23.5%
ROA	3.18%	9.65%	10.8%	5.75%	-6.79%	2.87%	14.9%	9.59%	3%	6.15%	6.04%
ROIC	2.51%	5.15%	11.6%	7.06%	-4.42%	1.3%	16.6%	12.7%	3.03%	5.78%	11.5%
Return on tangible assets	3.79%	11.4%	12.8%	6.69%	-7.4%	3.13%	15.9%	10.3%	3.24%	6.58%	9.34%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.34	1.42	1.48	1.24	1.39	1.15	1.38	1.26	1.19	1.3	1.32
Quick ratio	1.01	1.09	1.08	0.91	0.99	0.88	1.17	1.02	0.92	0.91	1
Debt / equity	0.43	0.37	0.41	0.43	0.74	0.67	0.5	0.61	0.7	0.65	0.63
Debt / assets	0.2	0.19	0.21	0.2	0.29	0.26	0.22	0.26	0.28	0.27	0.25
Net debt / EBITDA	2.01	1.42	0.88	1.48	12.1	2.23	0.77	1.3	3.01	2.4	1.4
Interest coverage	7.1	8.73	15.1	9.69	-8.53	3.88	23.8	11.2	3.82	5.99	8.38
Effective tax rate	25%	0%	21.1%	19.2%	0%	8.39%	22.2%	23.6%	18.7%	16.5%	19%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	159.8	198.7	236.8	237.7	145.9	253.3	360.5	327.5	340.7	326	377.8
EPS (basic)	2.94	9.9	11.9	6.8	-9.06	2.97	23.4	15.6	5.01	10.8	10.8
EPS (diluted)	2.92	9.85	11.8	6.77	-9.06	2.97	23.3	15.5	4.99	10.8	17.5
Book value per share	45	53.2	57.7	60.2	49	49.2	72.3	70.3	67.7	74.5	79
FCF per share	0.23	3.53	10.5	2.07	-1.84	9.45	18.3	10.2	5.55	6.72	15.9
Cash per share	5.14	6.06	6.41	3.58	5.72	7.15	13	7.38	4.14	2.75	10.3
Capex per share	—	—	—	—	—	—	—	—	—	5.5	6.29

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	—	—	—	—	—	—	—	—	—	1.69%	1.66%
Capex / operating cash flow	—	—	—	—	—	—	—	—	—	45%	28.4%
Payout ratio	78%	26.6%	24.5%	46.5%	-42.4%	99.4%	15.7%	26%	86.5%	42.4%	28.2%
Dividend yield	2.81%	2.68%	3.54%	3.12%	5.12%	4.97%	3.65%	3.14%	3.93%	3.67%	2%

Yield

trailing twelve months

Frequency

Quarterly

Last dividend

$1.27

ex-dividend Aug 18, 2026

Payout ratio

28%

of earnings

Dividend growth

13 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 18, 2026	$1.27
May 18, 2026	$1.27
Feb 23, 2026	$1.27
Nov 17, 2025	$1.20

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$39.6B	$38.3B	$35.8B	$38.1B	$35.5B	$33.7B	$30.4B	$33.3B	$34.5B	$34.1B	$32.5B	$51B
YoY change	-11.8%	-4.99%	+4.11%	+8.66%	-10.4%	-12%	-15%	-12.6%	-2.85%	+1.26%	+6.93%	+53.1%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	2.7B	3.1B	3B	1.6B	2.5B	3.1B	6.1B	3.3B	1.7B	1.1B
Receivables	6.4B	7.5B	6.2B	8.5B	6.5B	7.5B	11B	11.7B	11B	9.8B
Inventory	3.1B	3.4B	3.5B	3.8B	3.9B	3.4B	3.3B	3.8B	4B	5.1B
Total current assets	12.7B	14.4B	13.2B	14.4B	13.3B	14.7B	21.9B	19.9B	17.9B	17.3B
Property, plant & equipment	20.9B	21.5B	22B	23.8B	23.7B	22.4B	35.2B	35.7B	35.3B	39.1B
Goodwill & intangibles	8.3B	8.3B	8.3B	8.3B	4.5B	4.6B	4.6B	4.9B	5.5B	4.8B
Total assets	51.7B	54.4B	54.3B	58.7B	54.7B	55.6B	76.4B	75.5B	72.6B	73.7B
Accounts payable	7.1B	8B	6.6B	8.6B	5.5B	8.5B	11.3B	10.9B	10.3B	8.9B
Short-term debt	550M	41M	67M	547M	987M	1.5B	529M	1.5B	1.8B	1B
Total current liabilities	9.5B	10.1B	8.9B	11.6B	9.5B	12.8B	15.9B	15.9B	15.1B	13.3B
Long-term debt	9.6B	10.1B	11.1B	11.2B	14.9B	13B	16.7B	17.9B	18.2B	18.7B
Total liabilities	27.9B	26.9B	27.1B	31.6B	33.2B	34B	42.3B	43.9B	44.1B	43.4B
Shareholders' equity	23.7B	27.4B	27.2B	27.2B	21.5B	21.6B	34.1B	31.6B	28.5B	30.2B
Total debt	10.1B	10.1B	11.2B	11.8B	15.9B	14.4B	17.2B	19.4B	20.1B	19.7B
Net debt	7.4B	7B	8.1B	10.1B	13.4B	11.3B	11.1B	16B	18.3B	18.6B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	3.5B	3.3B	1.6B	2.4B	1.6B	1.7B	1.5B	1.1B	1.8B	1.1B	5.2B	4.1B
Receivables	12B	11.7B	11.5B	10.9B	10.4B	11B	10.2B	11.3B	10.5B	9.8B	11.9B	11.7B
Inventory	5.7B	3.8B	6.3B	6.5B	6B	4B	5.2B	5.6B	6.4B	5.1B	6.7B	5.9B
Total current assets	22.5B	19.9B	20.7B	20.9B	19.3B	17.9B	18.3B	21.1B	22B	17.3B	27.4B	24.2B
Property, plant & equipment	35.5B	35.7B	35.5B	35.2B	35.6B	35.3B	35B	36.7B	36.4B	39.1B	39.1B	39.6B
Goodwill & intangibles	5B	4.9B	4.9B	4.9B	5.5B	5.5B	5.5B	5B	4.9B	4.8B	4.8B	4.8B
Total assets	77.8B	75.5B	76.4B	75.9B	75.1B	72.6B	71.8B	75.9B	76.1B	73.7B	84.1B	81.8B
Accounts payable	12.7B	10.9B	12.5B	12.3B	10.9B	10.3B	10.7B	10.9B	10.2B	8.9B	11.9B	12B
Short-term debt	913M	1.5B	2.3B	2.8B	1.5B	1.8B	1.1B	3.7B	2.6B	1B	8.4B	1.8B
Total current liabilities	17.4B	15.9B	17.7B	18.3B	15.9B	15.1B	14.9B	19.7B	17.9B	13.3B	24.2B	18.4B
Long-term debt	18.5B	17.9B	17.8B	17.2B	18.5B	18.2B	17.7B	17.2B	19.2B	18.7B	18.7B	18.8B
Total liabilities	45.8B	43.9B	45.6B	45.4B	45.3B	44.1B	43.5B	47.3B	48B	43.4B	54.4B	49.1B
Shareholders' equity	32B	31.6B	30.8B	30.5B	29.8B	28.5B	28.4B	28.6B	28.1B	30.2B	29.7B	32.7B
Total debt	19.4B	19.4B	20.2B	20B	20B	20.1B	18.8B	20.9B	21.8B	19.7B	27.1B	20.6B
Net debt	15.9B	16B	18.6B	17.5B	18.4B	18.3B	17.3B	19.9B	19.9B	18.6B	22B	16.5B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	1.6B	5.2B	5.9B	3.4B	-3.7B	1.6B	11.4B	7.2B	2.2B	4.5B
Depreciation & amortization	1.2B	1.3B	1.4B	1.3B	1.4B	1.6B	1.6B	2B	2.4B	3.3B
Stock-based compensation	—	—	—	—	—	—	—	—	—	—
Change in working capital	537M	-205M	-428M	-571M	-935M	2.5B	-263M	-1.4B	-195M	-1.2B
Operating cash flow	3.8B	3.9B	7.2B	4.4B	-3B	5.4B	11.3B	8.2B	4.9B	5B
Capital expenditure	—	—	—	—	—	—	—	—	—	-2.2B
Investing cash flow	-314M	686M	168M	185M	-159M	-12M	706M	628M	-604M	-2.1B
Dividends paid	-1.3B	-1.4B	-1.4B	-1.6B	-1.6B	-1.6B	-1.8B	-1.9B	-1.9B	-1.9B
Share repurchases	-1B	-1.6B	-4.6B	-1.6B	-443M	0	-1.5B	-4B	-3.5B	-1.2B
Financing cash flow	-178M	-2.1B	-5.2B	-2.5B	1.8B	-3.5B	-6.4B	-8.1B	-3.3B	-3.5B
Net change in cash	3.3B	2.5B	2.2B	2B	-1.3B	1.9B	5.6B	781M	981M	-672M
Free cash flow	119M	1.8B	4.9B	935M	-809M	4.2B	8.6B	4.6B	2.3B	2.7B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	2.1B	1.3B	761M	1B	369M	25M	526M	908M	167M	2.9B	219M	3.9B
Depreciation & amortization	488M	518M	504M	497M	543M	819M	791M	816M	826M	818M	558M	585M
Stock-based compensation	—	—	—	—	—	—	—	—	—	—	—	—
Change in working capital	371M	522M	-678M	371M	-530M	642M	71M	-1.4B	-691M	914M	-1.1B	1.2B
Operating cash flow	3.1B	2.5B	552M	1.7B	1.1B	1.5B	1.3B	845M	1.2B	2.8B	-2.3B	7.3B
Capital expenditure	—	—	—	—	—	—	—	-587M	-541M	-682M	-582M	-726M
Investing cash flow	107M	26M	-37M	694M	-1.4B	161M	2B	-2.7B	-487M	-467M	-606M	-738M
Dividends paid	-465M	-457M	-448M	-485M	-477M	-472M	-469M	-487M	-484M	-482M	-509M	-508M
Share repurchases	-752M	-1.2B	-1.2B	-840M	-800M	-647M	-247M	-419M	-267M	-274M	-269M	-379M
Financing cash flow	-1.7B	-1.8B	-846M	-1.5B	-192M	-724M	-2B	1.5B	112M	-3.1B	6.9B	-7.5B
Net change in cash	1.5B	739M	-331M	887M	-494M	919M	1.2B	-363M	803M	-841M	4B	-1B
Free cash flow	2.1B	1.6B	-864M	1.7B	774M	692M	-236M	258M	637M	2.1B	-2.8B	6.5B

Phillips 66 Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement