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PSXPhillips 66

Energy · Oil Refining · NYSE

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FY2025 at a glance

Sales down 7.5%

XBRL, from each 10-K

RevenueStatements ↓

$132.4B

from $143.2B in FY2024

FY2016FY2025

Net incomeStatements ↓

$4.4B

from $2.1B in FY2024

FY2016FY2025

EPS (diluted)Statements ↓

$10.79

from $4.99 in FY2024

FY2016FY2025

Total debtStatements ↓

$19.7B

from $20.1B in FY2024

FY2016FY2025

Price and key numbers

The latest figures

All key numbers (37, from the latest 10-K and 10-Q) From EDGAR

EPS (ttm)	31.18	Sales (ttm)	168.2B	Net income (ttm)	12.6B	Sales growth	-7.5%	EPS growth	+116%	Sales Q/Q	+46.4%
Free cash flow	-	Gross margin	15.1%	Oper. margin	-	Net margin	7.5%	FCF margin	-	ROE	36.6%
ROA	14.6%	R&D / sales	0.0%	Dividend	4.75	Debt/Eq	0.54	Curr. ratio	1.34	Cash	5.8B
Op. cash flow (ttm)	15.0B	Net debt	12.7B	Quick ratio	1.10	Payout ratio	44.0%	Tax rate	86.2%	Stock pay / sales	0.2%
Shares out.	390.1M	Shares Y/Y	-3.3%	Book / share	88.01	Cash / share	14.99	Sales / share	431.18	Asset turnover	1.96
Inventory turns	22.78	Days sales out.	27	Sales 3Y CAGR	-8.0%	Sales 5Y CAGR	+15.6%	EPS 3Y CAGR	-22.6%	Employees	12,600
Sales / employee	13.3M

Hover or tap a number to see the XBRL line item and filing it comes from; click it to open that filing at SEC. What each number means. Looks wrong? Tell us.

PSX against Energy peers

Ten years, side by side → · All 21 →

PSXPeer median

Each side 0 to 100, ranked against every company we cover: relative position on reported figures, not a buy score. How

Every dot is one of the 21 companies, the better end on the right. Hover a dot for the company.

Sales growth

-7.5%20th of 21 · median -0.3%

Net margin

7.5%21st of 21 · median 13.5%

Return on equity

36.6%4th of 21 · median 17.4%

Debt / equity (less is better)

0.5413th of 20 · median 0.41

PSX and the 5 peers closest in revenue
Company	Revenue (ttm)	Sales growth	Gross margin	Net margin	ROE	FCF margin	Debt / equity
PSX Phillips 66	$168.2B	-7.5%	15.1%	7.5%	36.6%	-	0.54
CVX Chevron Corporation	$233.3B	-6.8%	42.4%	11.6%	13.9%	14.6%	0.17
MPC Marathon Petroleum	$174.8B	-4.4%	15.9%	8.4%	63.0%	11.9%	1.42
VLO Valero Energy	$153.3B	-5.5%	12.3%	8.4%	46.3%	-	0.39
COP ConocoPhillips	$67.7B	+7.7%	51.0%	17.1%	17.5%	-	0.35
OKE Oneok	$43.2B	+55.0%	25.2%	9.4%	17.4%	5.9%	1.22

Where each dollar goes

FY2021FY2022FY2023FY2024FY2025

From $111.5B of sales to $1.3B of profit

FY2021, from the 10-K income statement

Swipe sideways for the whole flow →

From $170.0B of sales to $11.0B of profit

FY2022, from the 10-K income statement and revenue by product

Swipe sideways for the whole flow →

From $147.4B of sales to $7.0B of profit

FY2023, from the 10-K income statement and revenue by product

Swipe sideways for the whole flow →

From $143.2B of sales to $2.1B of profit

FY2024, from the 10-K income statement and revenue by product

Swipe sideways for the whole flow →

From $132.4B of sales to $4.4B of profit

FY2025, from the 10-K income statement and revenue by product

Swipe sideways for the whole flow →

Where each $100 of sales went

FY2021

$92$7

FY2022

$88

FY2023

$87$8

FY2024

$91$8

FY2025

$88$9

Cost of revenue
Costs, tax, other
Net profit

Band widths are the money. Gross profit is revenue less cost of revenue; operating expenses are gross profit less operating profit; R&D is from the income statement and the rest of the operating expenses is everything else; tax includes interest and other items when they are small. Y/Y is the change from the fiscal year before. Revenue by part only for the years in the last two 10-Ks' segment tables. The full income statement →

Profitability

1 of 3

!
Net margin below the peer median7.5% vs 13.5%
✓
Return on equity above 15%36.6%
!
A profit in 9 of 10 years

Net margin, FY2016 to FY2025: 1.8% → 3.3%

Balance sheet

2 of 2

✓
Debt smaller than equityDebt / equity 0.54 on the latest balance sheet (peer median 0.41)
✓
Current assets cover current liabilitiesCurrent ratio 1.34

Debt / equity at each year end, FY2016 to FY2025: 0.47 → 0.68

What the debt is made of ↓

Cash and shareholders

3 of 3

✓
Share count down over 5 years−7.2%
✓
Dividend per share up over 5 years$3.60 → $4.75
✓
Cash from operations above net income$5.0B vs $4.4B

Each tick is a fact with a fixed rule (on /methodology), not a score or advice. A check without the numbers it needs is left out.

Debt

$6.0B of principal due, schedule of Dec 31, 2025

Repayment schedule →

From the balance sheet in the latest 10-K or 10-Q (XBRL). When each part falls due, year by year, and the debt note's own lines are on the Debt tab.

Revenue and net income, FY2016 to FY2025

Revenue 132.4B Net income 4.4B

From XBRL in each 10-K. Hover a bar for the line item and filing. Full financials →

Statements

Income statement, balance sheet and cash flow

XBRL, each 10-K and 10-Q

PSX's income statement, balance sheet and cash flow as reported to the SEC in XBRL, one column per fiscal year. Hover a number to see the line item and filing it comes from. Where a company changed how it tags a line, the first tag it reported for that period is used. A number looks wrong? Tell us.

Annual Quarterly

Revenue132.4B

Net income4.4B

EPS (diluted)10.79

Dividend per share4.75

Diluted shares408.1M

Revenue by business segment

year to Dec 31, 2025

	Revenue	Share	vs year before
M&S	83.7B	63.3%	-7.3%
Refining	26.9B	20.3%	-22.8%
Midstream	18.6B	14.0%	+16.0%
Renewable Fuels	3.1B	2.4%	+57.9%
Chemicals	0	0.0%	-

10-K 0001534701-26-000006, segment and revenue notes (XBRL).

Revenue by product or service

year to Dec 31, 2025

	Revenue	Share	vs year before
Refined petroleum products and renewable fuels	97.4B	73.5%	-6.1%
NGL and natural gas	17.1B	12.9%	+17.3%
Crude oil resales	15.2B	11.5%	-31.0%
Services and other	2.8B	2.1%	-4.9%

10-K 0001534701-26-000006, segment and revenue notes (XBRL).

Revenue by region

year to Dec 31, 2025

	Revenue	Share	vs year before
United States	104.3B	78.8%	-8.2%
United Kingdom	13.2B	10.0%	+3.9%
Other countries	9.9B	7.5%	-14.3%
Germany	5.0B	3.8%	-5.2%

10-K 0001534701-26-000006, segment and revenue notes (XBRL).

Income statement

From EDGAR

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	84.3B	102.4B	111.5B	107.3B	64.1B	111.5B	170.0B	147.4B	143.2B	132.4B
Cost of revenue	62.5B	79.4B	97.9B	95.5B	57.7B	102.1B	149.9B	128.1B	130.0B	116.1B
R&D	60.0M	60.0M	55.0M	54.0M	48.0M	47.0M	42.0M	27.0M	15.0M	6.0M
SG&A	1.6B	1.7B	1.7B	1.7B	1.5B	1.7B	2.2B	2.5B	2.8B	2.4B
Interest expense	311.0M	421.0M	493.0M	504.0M	550.0M	567.0M	611.0M	842.0M	919.0M	997.0M
Pretax income	2.2B	3.6B	7.4B	4.2B	-5.0B	1.7B	12.6B	7.9B	1.8B	1.0B
Income tax	547.0M	-1.7B	1.6B	801.0M	-1.2B	146.0M	3.2B	2.2B	500.0M	892.0M
Net income	1.6B	5.1B	5.6B	3.1B	-4.0B	1.3B	11.0B	7.0B	2.1B	4.4B
EPS (diluted)	2.92	9.85	11.80	6.77	-9.06	2.97	23.27	15.48	4.99	10.79
Diluted shares	530.1M	518.5M	474.0M	453.9M	439.5M	440.4M	473.7M	453.2M	421.9M	408.1M
Depreciation & amortization	1.2B	1.3B	1.4B	1.3B	1.4B	1.6B	1.6B	2.0B	2.4B	3.3B
Net margin	1.8%	5.0%	5.0%	2.9%	-6.2%	1.2%	6.5%	4.8%	1.5%	3.3%
Revenue growth	-	+21.4%	+8.9%	-3.7%	-40.2%	+73.8%	+52.5%	-13.3%	-2.9%	-7.5%
EPS growth	-	+237%	+19.8%	-42.6%	-234%	-	+684%	-33.5%	-67.8%	+116%

Balance sheet

From EDGAR

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash	2.7B	3.1B	3.0B	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	11.0B	11.7B	11.0B	9.8B
Inventory	3.1B	3.4B	3.5B	3.8B	3.9B	3.4B	3.3B	3.8B	4.0B	5.1B
Current assets	12.7B	14.4B	13.2B	14.4B	13.3B	14.7B	21.9B	19.9B	17.9B	17.3B
Property & equipment	20.9B	21.5B	22.0B	-	-	-	-	-	-	-
Goodwill	3.3B	3.3B	3.3B	3.3B	1.4B	1.5B	1.5B	1.6B	1.6B	1.4B
Total assets	51.7B	54.4B	54.3B	58.7B	54.7B	55.6B	76.4B	75.5B	72.6B	73.7B
Accounts payable	6.4B	7.2B	6.1B	8.0B	5.2B	7.6B	10.7B	-	-	-
Current liabilities	9.5B	10.1B	8.9B	11.6B	9.5B	12.8B	15.9B	15.9B	15.1B	13.3B
Total debt	10.6B	10.1B	11.1B	11.2B	15.9B	14.4B	17.2B	19.4B	20.1B	19.7B
Total liabilities	27.9B	26.9B	27.1B	31.6B	33.2B	34.0B	42.3B	43.9B	44.1B	43.4B
Shareholders' equity	22.4B	25.1B	24.7B	24.9B	19.0B	19.2B	29.5B	30.6B	27.4B	29.1B
Retained earnings	12.6B	16.3B	20.5B	22.1B	16.5B	16.2B	25.4B	30.6B	30.8B	33.2B

Cash flow

From EDGAR

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Operating cash flow	3.0B	3.6B	7.6B	4.8B	2.1B	6.0B	10.8B	7.0B	4.2B	5.0B
Stock-based pay (added back)	156.0M	142.0M	100.0M	169.0M	127.0M	144.0M	210.0M	297.0M	210.0M	220.0M
Dividends paid	1.3B	1.4B	1.4B	1.6B	1.6B	1.6B	1.8B	1.9B	1.9B	1.9B
Buybacks	1.0B	1.6B	4.6B	1.6B	443.0M	0	1.5B	4.0B	3.5B	1.2B
Acquisitions	-	-	-	-	-	-	306.0M	263.0M	625.0M	3.5B
Debt raised	2.1B	3.5B	2.2B	1.8B	5.2B	1.4B	453.0M	6.3B	6.3B	8.4B
Investing cash flow	-3.2B	-1.1B	-2.5B	-3.7B	-3.1B	-1.9B	-1.5B	-1.8B	-2.5B	-2.1B
Financing cash flow	-178.0M	-2.1B	-5.2B	-2.5B	1.8B	-3.5B	-6.4B	-8.1B	-3.3B	-3.5B
Dividend per share	2.45	2.73	3.10	3.50	3.60	3.62	3.83	4.20	4.50	4.75

Stock-based pay and leases

From EDGAR

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Stock-based pay (expense)	156.0M	142.0M	100.0M	169.0M	127.0M	144.0M	210.0M	297.0M	210.0M	220.0M
Stock-based pay / revenue	0.2%	0.1%	0.1%	0.2%	0.2%	0.1%	0.1%	0.2%	0.1%	0.2%
Operating lease cost	-	-	-	531.0M	527.0M	461.0M	387.0M	390.0M	478.0M	597.0M
Operating lease cash paid	-	-	-	553.0M	521.0M	438.0M	392.0M	390.0M	473.0M	600.0M
Finance lease principal paid	-	-	-	21.0M	17.0M	21.0M	32.0M	19.0M	28.0M	30.0M
Right-of-use assets	-	-	1.4B	1.3B	1.2B	1.1B	995.0M	1.1B	1.3B	1.8B
Operating lease liabilities	-	-	1.4B	1.3B	1.2B	1.1B	1.0B	1.2B	1.4B	1.9B
Finance lease liabilities	-	-	-	277.0M	264.0M	290.0M	257.0M	305.0M	352.0M	338.0M

From SEC's XBRL company facts (data.sec.gov). EBITDA = operating income + depreciation and amortization; free cash flow = operating cash flow - capital spending; total debt = long-term debt (with its current part) + short-term borrowings. Stock-based pay and leases are shown as the company reports them; Tickdelta does not take them out of earnings or add leases to debt. Click a number to open the filing in SEC's Inline XBRL viewer, where you can click the same number to see how it is tagged. Values a company later revised show as revised; the Revised numbers tab lists the changes.

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