Phillips 66 (PSX) Financials

$129.80 +5.35 (+4.30%)

Closing price 08/22/2025 03:59 PM Eastern

Extended Trading

$129.74 -0.07 (-0.05%)

As of 04:30 AM Eastern

Annual Income Statements for Phillips 66

This table shows Phillips 66's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	4,762	4,227	1,555	5,106	5,595	3,076	-3,975	1,317	11,024	7,015	2,117
Consolidated Net Income / (Loss)	4,797	4,280	1,644	5,248	5,873	3,377	-3,714	1,594	11,391	7,239	2,175
Net Income / (Loss) Continuing Operations	4,091	4,280	1,644	5,248	5,873	3,377	-3,714	1,594	11,391	7,239	2,175
Total Pre-Tax Income	5,745	6,044	2,191	3,555	7,445	4,178	-4,964	1,740	14,639	9,469	2,675
Total Operating Income	5,918	6,285	2,455	3,993	7,857	4,522	-4,519	1,868	12,512	10,029	3,350
Total Gross Profit	28,225	27,432	23,235	25,213	16,226	13,911	7,721	12,296	23,033	21,445	15,291
Total Revenue	163,973	100,831	85,703	104,622	114,156	109,440	65,428	114,398	172,965	149,531	145,253
Operating Revenue	163,973	100,831	85,703	104,622	114,156	109,440	65,428	114,398	172,965	149,531	145,253
Total Cost of Revenue	135,748	73,399	62,468	79,409	97,930	95,529	57,707	102,102	149,932	128,086	129,962
Operating Cost of Revenue	135,748	73,399	62,468	79,409	97,930	95,529	57,707	102,102	149,932	128,086	129,962
Total Operating Expenses	22,307	21,147	20,780	21,220	8,369	9,389	12,240	10,428	10,521	11,416	11,941
Selling, General & Admin Expense	6,098	5,964	5,913	6,394	6,557	6,755	6,107	6,891	8,279	8,679	8,753
Depreciation Expense	995	1,078	1,168	1,318	1,356	1,341	1,395	1,605	1,629	1,977	2,363
Amortization Expense	24	21	21	22	23	23	22	24	23	29	40
Other Operating Expenses / (Income)	15,040	14,077	13,673	13,462	425	409	464	410	530	707	329
Impairment Charge	150	7.00	5.00	24	8.00	861	4,252	1,498	60	24	456
Total Other Income / (Expense), net	-173	-241	-264	-438	-412	-344	-445	-128	2,127	-560	-675
Interest Expense	267	310	338	438	504	458	499	581	619	897	907
Other Income / (Expense), net	94	69	74	-	92	114	54	453	2,746	337	232
Income Tax Expense	1,654	1,764	547	-1,693	1,572	801	-1,250	146	3,248	2,230	500
Net Income / (Loss) Attributable to Noncontrolling Interest	35	53	89	142	278	301	261	277	367	224	58
Basic Earnings per Share	$8.40	$7.78	$2.94	$9.90	$11.87	$6.80	($9.06)	$2.97	$23.36	$15.56	$5.01
Weighted Average Basic Shares Outstanding	565.90M	542.36M	527.53M	515.09M	470.71M	451.36M	439.53M	440.03M	471.50M	450.14M	420.17M
Diluted Earnings per Share	$8.33	$7.73	$2.92	$9.85	$11.80	$6.77	($9.06)	$2.97	$23.27	$15.48	$4.99
Weighted Average Diluted Shares Outstanding	571.50M	546.98M	530.07M	518.51M	474.05M	453.89M	439.53M	440.36M	473.73M	453.21M	421.89M
Weighted Average Basic & Diluted Shares Outstanding	566.90M	543.30M	528.90M	515.80M	471.40M	439.45M	436.93M	438.46M	463.91M	427.82M	407.70M
Cash Dividends to Common per Share	$1.89	$2.18	$2.45	$2.73	$3.10	$3.50	$3.60	$3.62	$3.83	$4.20	$4.50

This table shows Phillips 66's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Net Income / (Loss) Attributable to Common Shareholders	1,884	1,961	1,697	2,097	1,260	748	1,015	346	8.00	487	877
Consolidated Net Income / (Loss)	2,012	2,077	1,734	2,143	1,285	761	1,020	369	25	526	908
Net Income / (Loss) Continuing Operations	2,012	2,077	1,734	2,143	1,285	761	1,020	369	25	526	908
Total Pre-Tax Income	2,547	2,651	2,244	2,813	1,761	964	1,311	413	-13	648	1,120
Total Operating Income	2,872	2,820	2,411	3,007	1,791	1,101	1,485	559	155	869	1,236
Total Gross Profit	5,907	5,700	5,070	5,977	4,698	3,953	4,225	3,885	3,407	2,979	4,306
Total Revenue	41,053	35,041	35,641	40,307	38,542	36,339	38,853	36,079	34,161	30,639	33,383
Operating Revenue	41,053	35,041	35,641	40,307	38,542	36,339	38,853	36,079	34,161	30,639	33,383
Total Cost of Revenue	35,146	29,341	30,571	34,330	33,844	32,386	34,628	32,194	30,754	27,660	29,077
Operating Cost of Revenue	35,146	29,341	30,571	34,330	33,844	32,386	34,628	32,194	30,754	27,660	29,077
Total Operating Expenses	3,035	2,880	2,659	2,970	2,907	2,852	2,740	3,326	3,252	2,110	3,070
Selling, General & Admin Expense	2,358	2,183	1,977	2,302	2,217	2,009	1,959	2,693	2,092	2,141	2,022
Depreciation Expense	502	476	495	488	518	504	497	543	819	791	816
Amortization Expense	6.00	6.00	7.00	6.00	10	9.00	10	8.00	13	12	10
Other Operating Expenses / (Income)	111	207	176	171	153	165	49	53	54	227	218
Impairment Charge	58	8.00	4.00	3.00	9.00	165	225	29	37	26	4.00
Total Other Income / (Expense), net	-325	-169	-167	-194	-30	-137	-174	-146	-168	-221	-116
Interest Expense	193	192	266	221	218	227	231	229	220	221	264
Other Income / (Expense), net	-	23	99	27	188	90	57	83	-	-	148
Income Tax Expense	535	574	510	670	476	203	291	44	-38	122	212
Net Income / (Loss) Attributable to Noncontrolling Interest	128	116	37	46	25	13	5.00	23	17	39	31
Basic Earnings per Share	$4.33	$4.21	$3.73	$4.72	$2.90	$1.74	$2.39	$0.82	$0.06	$1.19	$2.15
Weighted Average Basic Shares Outstanding	471.50M	464.81M	454.45M	444.28M	450.14M	428.96M	422.87M	417.31M	420.17M	409.18M	406.76M
Diluted Earnings per Share	$4.29	$4.20	$3.72	$4.69	$2.87	$1.73	$2.38	$0.82	$0.06	$1.18	$2.15
Weighted Average Diluted Shares Outstanding	473.73M	467.03M	456.17M	447.26M	453.21M	431.91M	425.73M	418.80M	421.89M	410.51M	407.93M
Weighted Average Basic & Diluted Shares Outstanding	463.91M	458.86M	445.29M	439.96M	427.82M	423.95M	418.57M	412.99M	407.70M	407.58M	404.12M
Cash Dividends to Common per Share	-	$1.05	$1.05	$1.05	-	$1.05	$1.15	$1.15	-	$1.15	$1.20

This table details how cash moves in and out of Phillips 66's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	-193	-2,133	-363	408	-65	-1,405	900	633	2,986	-2,810	-1,585
Net Cash From Operating Activities	3,529	5,713	2,963	3,648	7,573	4,808	2,111	6,017	10,813	7,029	4,191
Net Cash From Continuing Operating Activities	3,527	5,713	2,963	3,648	7,573	4,808	2,111	6,017	10,813	7,029	4,191
Net Income / (Loss) Continuing Operations	4,091	4,280	1,644	5,248	5,873	3,377	-3,714	1,594	11,391	7,239	2,175
Consolidated Net Income / (Loss)	4,797	4,280	1,644	5,248	5,873	3,377	-3,714	1,594	11,391	7,239	2,175
Depreciation Expense	995	1,078	1,168	1,318	1,356	1,341	1,395	1,605	1,629	1,977	2,363
Non-Cash Adjustments To Reconcile Net Income	-51	47	-962	-1,094	365	737	4,630	971	-3,595	-1,212	519
Changes in Operating Assets and Liabilities, net	-1,508	308	1,113	-1,824	-21	-647	-200	1,847	1,388	-975	-866
Net Cash From Investing Activities	-2,296	-5,738	-3,158	-1,146	-2,471	-3,688	-3,079	-1,872	-1,488	-1,790	-2,463
Net Cash From Continuing Investing Activities	-2,294	-5,738	-3,158	-1,146	-2,471	-3,688	-3,079	-1,872	-1,488	-1,790	-2,463
Purchase of Property, Plant & Equipment	-3,773	-5,764	-2,844	-1,832	-2,639	-3,873	-2,920	-1,860	-1,888	-2,155	-1,859
Acquisitions	-	-	-	-	-	-	-	-	-306	-263	-625
Purchase of Investments	-	-	-	-10	-1.00	-98	-316	-310	-75	0.00	-1,100
Sale of Property, Plant & Equipment	1,244	70	156	86	12	86	51	27	4.00	392	1,082
Sale and/or Maturity of Investments	-	-	-	326	45	166	236	269	787	204	145
Other Investing Activities, net	235	-44	-470	-34	112	31	-130	2.00	-10	32	-106
Net Cash From Financing Activities	-1,362	-2,117	-178	-2,111	-5,167	-2,511	1,791	-3,470	-6,388	-8,092	-3,305
Net Cash From Continuing Financing Activities	-1,362	-2,117	-178	-2,111	-5,167	-2,511	1,791	-3,470	-6,388	-8,092	-3,305
Repayment of Debt	-26	-971	-875	-3,754	-1,230	-1,038	-1,090	-3,006	-2,953	-4,349	-4,260
Repurchase of Common Equity	-2,282	-1,512	-1,042	-1,590	-4,645	-1,650	-443	-24	-2,013	-8,081	-3,451
Payment of Dividends	-1,092	-1,218	-1,357	-1,515	-1,643	-1,811	-1,864	-1,909	-1,978	-2,045	-1,952
Issuance of Debt	2,487	1,169	2,090	3,508	2,184	1,783	5,178	1,443	453	6,260	6,272
Issuance of Common Equity	1.00	415	1,006	1,240	167	205	10	26	103	123	86
Effect of Exchange Rate Changes	-64	9.00	10	-	-	-14	77	-42	49	43	-8.00

This table details how cash moves in and out of Phillips 66's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Net Change in Cash & Equivalents	2,389	832	-3,936	510	-216	-1,753	874	-807	101	-249	-345
Net Cash From Operating Activities	4,750	1,199	955	2,685	2,190	-236	2,097	1,132	1,198	187	845
Net Cash From Continuing Operating Activities	4,750	1,199	955	2,685	2,190	-236	2,097	1,132	1,198	187	845
Net Income / (Loss) Continuing Operations	2,012	2,077	1,734	2,143	1,285	761	1,020	369	25	526	908
Consolidated Net Income / (Loss)	2,012	2,077	1,734	2,143	1,285	761	1,020	369	25	526	908
Depreciation Expense	502	476	495	488	518	504	497	543	819	791	816
Non-Cash Adjustments To Reconcile Net Income	-47	-237	-348	-640	13	1.00	-191	488	221	-925	244
Changes in Operating Assets and Liabilities, net	2,283	-1,117	-926	694	374	-1,502	771	-268	133	-205	-1,123
Net Cash From Investing Activities	-232	-265	-432	-485	-608	-665	327	-1,780	-345	1,591	-2,734
Net Cash From Continuing Investing Activities	-232	-265	-432	-485	-608	-665	327	-1,780	-345	1,591	-2,734
Purchase of Property, Plant & Equipment	-407	-378	-551	-592	-634	-628	-367	-358	-506	-423	-587
Sale of Property, Plant & Equipment	1.00	77	13	280	22	2.00	685	219	176	2,034	-3.00
Sale and/or Maturity of Investments	473	60	59	40	45	41	28	53	23	25	39
Other Investing Activities, net	7.00	-24	47	50	-41	-80	-19	-27	20	-25	37
Net Cash From Financing Activities	-2,242	-117	-4,493	-1,657	-1,825	-846	-1,543	-192	-724	-2,049	1,526
Net Cash From Continuing Financing Activities	-2,242	-117	-4,493	-1,657	-1,825	-846	-1,543	-192	-724	-2,049	1,526
Repayment of Debt	-941	-1,271	-1,247	-1,194	-637	-3,086	-16	-438	-720	-1,342	-1,094
Repurchase of Common Equity	-1,253	-800	-5,266	-752	-1,263	-1,164	-840	-800	-647	-247	-419
Payment of Dividends	-537	-544	-541	-480	-480	-461	-505	-490	-496	-483	-568
Issuance of Debt	453	2,488	2,559	678	535	3,815	-196	1,518	1,135	0.00	3,499
Issuance of Common Equity	36	10	2.00	91	20	50	14	18	4.00	23	108
Effect of Exchange Rate Changes	113	15	34	-33	27	-6.00	-7.00	33	-28	22	18

This table presents Phillips 66's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	48,692	48,580	51,653	54,371	54,302	58,720	54,721	55,594	76,442	75,501	72,582
Total Current Assets	16,692	12,256	12,680	14,390	13,209	14,395	13,276	14,697	21,922	19,941	17,910
Cash & Equivalents	5,207	3,074	2,711	3,119	3,019	1,614	2,514	3,147	6,133	3,323	1,738
Note & Lease Receivable	-	-	5,485	6,424	5,414	7,376	5,688	6,138	10,985	11,730	11,033
Inventories, net	3,397	3,477	3,150	3,395	3,543	3,776	3,893	3,394	3,276	3,750	3,995
Prepaid Expenses	833	532	422	370	474	495	347	686	1,528	1,138	1,144
Other Current Nonoperating Assets	-	-	-	-	-	-	-	-	-	-	0.00
Plant, Property, & Equipment, net	17,346	19,721	20,855	21,460	22,018	0.00	0.00	0.00	0.00	0.00	0.00
Total Noncurrent Assets	14,654	16,603	18,118	18,521	19,075	44,325	41,445	40,897	54,520	55,560	54,672
Long-Term Investments	10,189	12,143	13,534	13,941	14,421	14,571	13,624	14,471	14,950	15,302	14,378
Goodwill	3,274	3,275	3,270	3,270	3,270	3,270	1,425	1,484	1,486	1,550	1,575
Intangible Assets	900	906	888	876	869	869	843	813	831	920	1,161
Other Noncurrent Operating Assets	291	279	426	434	515	25,615	25,553	24,129	37,253	37,788	37,558
Total Liabilities & Shareholders' Equity	48,692	48,580	51,653	54,371	54,302	58,720	54,721	55,594	76,442	75,501	72,582
Total Liabilities	26,655	24,642	27,928	26,943	27,149	31,551	33,198	33,957	42,336	43,851	44,119
Total Current Liabilities	11,094	7,531	9,463	10,107	8,935	11,646	9,518	12,801	15,889	15,856	15,087
Short-Term Debt	842	44	550	41	67	547	987	1,489	529	1,482	1,831
Accounts Payable	8,064	5,655	7,061	8,027	6,586	8,575	5,549	8,461	11,323	10,901	10,304
Current Deferred & Payable Income Tax Liabilities	878	878	805	1,002	1,116	979	1,351	1,254	1,397	1,200	1,060
Current Employee Benefit Liabilities	462	576	527	582	724	710	573	638	764	863	732
Other Current Liabilities	848	378	520	455	442	835	1,058	959	1,876	1,410	1,160
Other Current Nonoperating Liabilities	-	-	-	-	-	-	-	-	-	-	0.00
Total Noncurrent Liabilities	15,561	17,111	18,465	16,836	18,214	19,905	23,680	21,156	26,447	27,995	29,032
Long-Term Debt	7,793	8,843	9,588	10,069	11,093	11,216	14,906	12,959	16,661	17,877	18,231
Asset Retirement Reserve & Litigation Obligation	683	665	655	641	624	638	657	727	879	864	1,129
Noncurrent Deferred Revenue	289	277	263	234	355	1,454	1,132	940	1,299	1,200	1,868
Noncurrent Deferred & Payable Income Tax Liabilities	5,491	6,041	6,743	5,008	5,275	5,553	5,644	5,475	6,671	7,424	7,101
Noncurrent Employee Benefit Liabilities	1,305	1,285	1,216	884	867	1,044	1,341	1,055	937	630	703
Total Equity & Noncontrolling Interests	22,037	23,938	23,725	27,428	27,153	27,169	21,523	21,637	34,106	31,650	28,463
Total Preferred & Common Equity	21,590	23,100	22,390	25,085	24,653	24,910	18,984	19,166	29,494	30,583	27,408
Total Common Equity	21,590	23,100	22,390	25,085	24,653	24,910	18,984	19,166	29,494	30,583	27,408
Common Stock	19,046	19,151	19,565	19,774	19,879	20,307	20,389	20,511	19,798	19,657	19,795
Retained Earnings	9,309	12,348	12,608	16,306	20,489	22,064	16,500	16,216	25,432	30,550	30,771
Treasury Stock	-6,234	-7,746	-8,788	-10,378	-15,023	-16,673	-17,116	-17,116	-15,276	-19,342	-22,751
Accumulated Other Comprehensive Income / (Loss)	-531	-653	-995	-617	-692	-788	-789	-445	-460	-282	-407
Noncontrolling Interest	447	838	1,335	2,343	2,500	2,259	2,539	2,471	4,612	1,067	1,055

This table presents Phillips 66's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Total Assets	76,442	77,262	74,886	77,786	75,501	76,399	75,945	75,080	72,582	71,838	75,942
Total Current Assets	21,922	22,670	19,898	22,496	19,941	20,704	20,916	19,307	17,910	18,279	21,076
Cash & Equivalents	6,133	6,965	3,029	3,539	3,323	1,570	2,444	1,637	1,738	1,489	1,052
Note & Lease Receivable	10,985	8,123	9,458	11,976	11,730	11,532	10,887	10,440	11,033	10,221	11,338
Inventories, net	3,276	5,445	6,380	5,732	3,750	6,286	6,522	6,037	3,995	5,240	5,583
Prepaid Expenses	1,528	934	1,031	1,249	1,138	1,316	1,063	1,193	1,144	1,329	1,478
Other Current Nonoperating Assets	-	-	-	-	-	-	-	-	-	-	1,625
Plant, Property, & Equipment, net	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Noncurrent Assets	54,520	54,592	54,988	55,290	55,560	55,695	55,029	55,773	54,672	53,559	54,866
Long-Term Investments	14,950	15,289	15,532	15,316	15,302	15,592	15,191	15,222	14,378	13,359	13,268
Goodwill	1,486	1,486	1,486	1,555	1,550	1,553	1,553	1,574	1,575	1,575	1,433
Intangible Assets	831	793	786	926	920	911	901	1,157	1,161	1,167	1,060
Other Noncurrent Operating Assets	37,253	37,024	37,184	37,493	37,788	37,639	37,384	37,820	37,558	37,458	39,105
Total Liabilities & Shareholders' Equity	76,442	77,262	74,886	77,786	75,501	76,399	75,945	75,080	72,582	71,838	75,942
Total Liabilities	42,336	42,346	43,826	45,797	43,851	45,606	45,438	45,296	44,119	43,485	47,315
Total Current Liabilities	15,889	14,705	14,971	17,416	15,856	17,667	18,271	15,922	15,087	14,883	19,685
Short-Term Debt	529	825	832	913	1,482	2,325	2,780	1,522	1,831	1,061	3,735
Accounts Payable	11,323	10,569	10,436	12,710	10,901	12,474	12,322	10,906	10,304	10,725	10,851
Current Deferred & Payable Income Tax Liabilities	1,397	1,388	1,181	1,345	1,200	1,087	1,368	1,206	1,060	1,247	1,535
Current Employee Benefit Liabilities	764	436	557	777	863	459	551	676	732	372	441
Other Current Liabilities	1,876	1,487	1,965	1,671	1,410	1,322	1,250	1,612	1,160	1,478	1,698
Other Current Nonoperating Liabilities	-	-	-	-	-	-	-	-	-	-	1,425
Total Noncurrent Liabilities	26,447	27,641	28,855	28,381	27,995	27,939	27,167	29,374	29,032	28,602	27,630
Long-Term Debt	16,661	17,660	19,034	18,531	17,877	17,829	17,180	18,476	18,231	17,742	17,200
Asset Retirement Reserve & Litigation Obligation	879	872	876	869	864	919	939	1,102	1,129	1,151	983
Noncurrent Deferred Revenue	1,299	1,365	1,202	1,166	1,200	1,210	1,198	1,877	1,868	2,047	1,874
Noncurrent Deferred & Payable Income Tax Liabilities	6,671	6,813	6,819	7,234	7,424	7,368	7,224	7,257	7,101	6,972	6,962
Noncurrent Employee Benefit Liabilities	937	931	924	581	630	613	626	662	703	690	611
Total Equity & Noncontrolling Interests	34,106	34,916	31,060	31,989	31,650	30,793	30,507	29,784	28,463	28,353	28,627
Total Preferred & Common Equity	29,494	30,249	29,898	30,821	30,583	29,726	29,455	28,722	27,408	27,273	27,491
Total Common Equity	29,494	30,249	29,898	30,821	30,583	29,726	29,455	28,722	27,408	27,273	27,491
Common Stock	19,798	19,802	19,470	19,610	19,657	19,681	19,724	19,766	19,795	19,796	19,827
Retained Earnings	25,432	26,903	28,122	29,751	30,550	30,846	31,372	31,237	30,771	30,785	31,172
Treasury Stock	-15,276	-16,083	-17,422	-18,155	-19,342	-20,489	-	-22,140	-22,751	-22,995	-23,390
Accumulated Other Comprehensive Income / (Loss)	-460	-373	-272	-385	-282	-312	-309	-141	-407	-313	-118
Noncontrolling Interest	4,612	4,667	1,162	1,168	1,067	1,067	1,052	1,062	1,055	1,080	1,136

This table displays calculated financial ratios and metrics derived from Phillips 66's official financial filings.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-6.17%	-38.51%	-15.00%	22.08%	9.11%	-4.13%	-40.22%	74.85%	51.20%	-13.55%	-2.86%
EBITDA Growth	3.84%	6.07%	-50.26%	43.66%	75.20%	-35.77%	-151.36%	227.88%	330.13%	-26.91%	-51.84%
EBIT Growth	3.64%	5.69%	-60.20%	57.89%	99.07%	-41.68%	-196.31%	151.98%	557.39%	-32.06%	-65.44%
NOPAT Growth	9.03%	5.61%	-58.61%	219.99%	5.15%	-41.03%	-186.55%	154.10%	468.93%	-21.25%	-64.47%
Net Income Growth	28.16%	-10.78%	-61.59%	219.22%	11.91%	-42.50%	-209.98%	142.92%	614.62%	-36.45%	-69.95%
EPS Growth	38.37%	-7.20%	-62.23%	237.33%	19.80%	-42.63%	-233.83%	132.78%	683.50%	-33.48%	-67.76%
Operating Cash Flow Growth	-41.45%	61.89%	-48.14%	23.12%	107.59%	-36.51%	-56.09%	185.03%	79.71%	-34.99%	-40.38%
Free Cash Flow Firm Growth	-85.01%	144.88%	-13.53%	65.64%	91.23%	-69.31%	-195.13%	366.91%	-144.45%	373.43%	-50.90%
Invested Capital Growth	28.08%	15.27%	0.06%	16.23%	1.93%	8.98%	-6.46%	-13.21%	63.61%	7.19%	0.08%
Revenue Q/Q Growth	-5.18%	-11.83%	1.94%	6.61%	-0.31%	0.30%	-16.95%	16.69%	4.81%	-1.65%	-2.93%
EBITDA Q/Q Growth	-6.41%	-6.54%	-16.53%	14.58%	31.78%	-16.03%	-246.89%	175.70%	33.96%	-5.57%	-15.65%
EBIT Q/Q Growth	-7.82%	-7.67%	-23.01%	18.91%	39.55%	-19.79%	-97.39%	15,573.33%	39.28%	-6.70%	-28.16%
NOPAT Q/Q Growth	-3.54%	-9.77%	-19.45%	137.82%	-17.24%	-21.91%	-99.78%	16,397.71%	13.42%	-11.16%	-29.24%
Net Income Q/Q Growth	7.27%	-10.31%	-22.31%	139.96%	-13.78%	-30.84%	-54.11%	688.19%	5.96%	-9.13%	-36.68%
EPS Q/Q Growth	8.75%	-10.01%	-23.36%	146.87%	-11.01%	-31.27%	-46.60%	353.85%	6.40%	-8.40%	-36.03%
Operating Cash Flow Q/Q Growth	-0.70%	12.28%	-21.88%	53.02%	41.16%	-33.71%	-33.32%	23.91%	37.52%	-26.70%	-19.14%
Free Cash Flow Firm Q/Q Growth	9.94%	-12.97%	-20.06%	129.97%	34.76%	-55.20%	-190.42%	48.73%	62.18%	-35.36%	-22.99%
Invested Capital Q/Q Growth	1.42%	0.27%	0.36%	9.43%	-4.68%	0.64%	-1.50%	-0.45%	-6.89%	-0.60%	-1.56%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	17.21%	27.21%	27.11%	24.10%	14.21%	12.71%	11.80%	10.75%	13.32%	14.34%	10.53%
EBITDA Margin	4.27%	7.37%	4.31%	5.08%	8.15%	5.46%	-4.69%	3.43%	9.76%	8.25%	4.09%
Operating Margin	3.61%	6.23%	2.86%	3.82%	6.88%	4.13%	-6.91%	1.63%	7.23%	6.71%	2.31%
EBIT Margin	3.67%	6.30%	2.95%	3.82%	6.96%	4.24%	-6.82%	2.03%	8.82%	6.93%	2.47%
Profit (Net Income) Margin	2.93%	4.24%	1.92%	5.02%	5.14%	3.09%	-5.68%	1.39%	6.59%	4.84%	1.50%
Tax Burden Percent	83.50%	70.81%	75.03%	147.62%	78.89%	80.83%	74.82%	91.61%	77.81%	76.45%	81.31%
Interest Burden Percent	95.56%	95.12%	86.64%	89.03%	93.66%	90.12%	111.18%	74.97%	95.94%	91.35%	74.68%
Effective Tax Rate	28.79%	29.19%	24.97%	-47.62%	21.11%	19.17%	0.00%	8.39%	22.19%	23.55%	18.69%
Return on Invested Capital (ROIC)	30.98%	27.07%	10.46%	30.95%	29.98%	16.76%	-14.37%	8.61%	40.00%	24.50%	8.41%
ROIC Less NNEP Spread (ROIC-NNEP)	24.22%	29.68%	13.64%	40.85%	34.89%	21.95%	9.23%	15.48%	-6.87%	51.60%	-15.05%
Return on Net Nonoperating Assets (RNNOA)	-9.39%	-8.45%	-3.56%	-10.43%	-8.46%	-4.33%	-0.88%	-1.22%	0.87%	-2.48%	-1.17%
Return on Equity (ROE)	21.59%	18.62%	6.90%	20.52%	21.52%	12.43%	-15.26%	7.39%	40.87%	22.02%	7.24%
Cash Return on Invested Capital (CROIC)	6.36%	12.89%	10.40%	15.93%	28.07%	8.17%	-7.70%	22.76%	-8.26%	17.56%	8.33%
Operating Return on Assets (OROA)	12.21%	13.06%	5.05%	7.53%	14.63%	8.20%	-7.87%	4.21%	23.11%	13.64%	4.84%
Return on Assets (ROA)	9.74%	8.80%	3.28%	9.90%	10.81%	5.98%	-6.55%	2.89%	17.25%	9.53%	2.94%
Return on Common Equity (ROCE)	21.16%	18.10%	6.58%	19.04%	19.61%	11.34%	-13.75%	6.53%	35.68%	20.12%	6.98%
Return on Equity Simple (ROE_SIMPLE)	22.22%	18.53%	7.34%	20.92%	23.82%	13.56%	-19.56%	8.32%	38.62%	23.67%	7.94%
Net Operating Profit after Tax (NOPAT)	4,214	4,451	1,842	5,895	6,198	3,655	-3,163	1,711	9,736	7,667	2,724
NOPAT Margin	2.57%	4.41%	2.15%	5.63%	5.43%	3.34%	-4.83%	1.50%	5.63%	5.13%	1.88%
Net Nonoperating Expense Percent (NNEP)	6.77%	-2.61%	-3.19%	-9.90%	-4.91%	-5.20%	-23.60%	-6.87%	46.87%	-27.10%	23.45%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	18.98%	15.03%	5.61%
Cost of Revenue to Revenue	82.79%	72.79%	72.89%	75.90%	85.79%	87.29%	88.20%	89.25%	86.68%	85.66%	89.47%
SG&A Expenses to Revenue	3.72%	5.91%	6.90%	6.11%	5.74%	6.17%	9.33%	6.02%	4.79%	5.80%	6.03%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	13.60%	20.97%	24.25%	20.28%	7.33%	8.58%	18.71%	9.12%	6.08%	7.63%	8.22%
Earnings before Interest and Taxes (EBIT)	6,012	6,354	2,529	3,993	7,949	4,636	-4,465	2,321	15,258	10,366	3,582
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	7,007	7,432	3,697	5,311	9,305	5,977	-3,070	3,926	16,887	12,343	5,945
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.29	1.36	1.49	1.56	1.27	1.62	1.39	1.49	1.55	1.85	1.72
Price to Tangible Book Value (P/TBV)	1.59	1.66	1.83	1.87	1.53	1.95	1.57	1.70	1.68	2.02	1.91
Price to Revenue (P/Rev)	0.17	0.31	0.39	0.38	0.27	0.37	0.40	0.25	0.26	0.38	0.32
Price to Earnings (P/E)	5.83	7.42	21.45	7.69	5.60	13.15	0.00	21.74	4.15	8.09	22.23
Dividend Yield	3.77%	3.71%	3.83%	3.52%	4.56%	3.84%	5.98%	5.54%	3.95%	3.26%	3.95%
Earnings Yield	17.15%	13.48%	4.66%	13.01%	17.86%	7.60%	0.00%	4.60%	24.08%	12.37%	4.50%
Enterprise Value to Invested Capital (EV/IC)	1.40	1.47	1.62	1.69	1.32	1.68	1.34	1.51	1.54	1.81	1.61
Enterprise Value to Revenue (EV/Rev)	0.13	0.26	0.33	0.33	0.24	0.35	0.44	0.24	0.27	0.39	0.36
Enterprise Value to EBITDA (EV/EBITDA)	3.06	3.48	7.73	6.52	2.96	6.41	0.00	7.11	2.75	4.74	8.76
Enterprise Value to EBIT (EV/EBIT)	3.57	4.07	11.30	8.68	3.47	8.26	0.00	12.03	3.05	5.65	14.53
Enterprise Value to NOPAT (EV/NOPAT)	5.09	5.81	15.52	5.88	4.45	10.48	0.00	16.32	4.78	7.63	19.11
Enterprise Value to Operating Cash Flow (EV/OCF)	6.08	4.53	9.65	9.50	3.64	7.96	13.55	4.64	4.30	8.33	12.42
Enterprise Value to Free Cash Flow (EV/FCFF)	24.80	12.21	15.60	11.42	4.75	21.50	0.00	6.18	0.00	10.65	19.29
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.39	0.37	0.43	0.37	0.41	0.43	0.74	0.67	0.50	0.61	0.70
Long-Term Debt to Equity	0.35	0.37	0.40	0.37	0.41	0.41	0.69	0.60	0.49	0.56	0.64
Financial Leverage	-0.39	-0.28	-0.26	-0.26	-0.24	-0.20	-0.10	-0.08	-0.13	-0.05	0.08
Leverage Ratio	2.22	2.12	2.10	2.07	1.99	2.08	2.33	2.56	2.37	2.31	2.46
Compound Leverage Factor	2.12	2.01	1.82	1.85	1.86	1.88	2.59	1.92	2.27	2.11	1.84
Debt to Total Capital	28.15%	27.07%	29.94%	26.93%	29.13%	30.21%	42.48%	40.04%	33.51%	37.95%	41.34%
Short-Term Debt to Total Capital	2.75%	0.13%	1.62%	0.11%	0.17%	1.41%	2.64%	4.13%	1.03%	2.91%	3.77%
Long-Term Debt to Total Capital	25.41%	26.94%	28.31%	26.82%	28.95%	28.81%	39.84%	35.91%	32.48%	35.05%	37.57%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	1.46%	2.55%	3.94%	6.24%	6.53%	5.80%	6.79%	6.85%	8.99%	2.09%	2.17%
Common Equity to Total Capital	70.39%	70.37%	66.12%	66.83%	64.35%	63.98%	50.74%	53.11%	57.50%	59.96%	56.48%
Debt to EBITDA	1.23	1.20	2.74	1.90	1.20	1.97	-5.18	3.68	1.02	1.57	3.37
Net Debt to EBITDA	-0.96	-0.85	-1.65	-1.31	-0.67	-0.74	0.08	-0.81	-0.23	0.06	0.66
Long-Term Debt to EBITDA	1.11	1.19	2.59	1.90	1.19	1.88	-4.86	3.30	0.99	1.45	3.07
Debt to NOPAT	2.05	2.00	5.50	1.72	1.80	3.22	-5.02	8.44	1.77	2.52	7.37
Net Debt to NOPAT	-1.60	-1.42	-3.32	-1.18	-1.01	-1.21	0.08	-1.85	-0.40	0.10	1.45
Long-Term Debt to NOPAT	1.85	1.99	5.21	1.71	1.79	3.07	-4.71	7.57	1.71	2.33	6.69
Altman Z-Score	4.81	3.74	2.95	3.56	3.90	3.48	1.91	3.15	4.13	3.84	3.44
Noncontrolling Interest Sharing Ratio	2.00%	2.80%	4.56%	7.19%	8.87%	8.76%	9.85%	11.61%	12.71%	8.64%	3.53%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.50	1.63	1.34	1.42	1.48	1.24	1.39	1.15	1.38	1.26	1.19
Quick Ratio	1.12	1.10	0.96	1.05	1.03	0.87	0.95	0.83	1.08	0.95	0.85
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	865	2,119	1,832	3,035	5,803	1,781	-1,694	4,522	-2,010	5,496	2,699
Operating Cash Flow to CapEx	139.54%	100.33%	110.23%	208.93%	288.28%	126.96%	73.58%	328.26%	573.94%	398.70%	539.38%
Free Cash Flow to Firm to Interest Expense	3.24	6.83	5.42	6.93	11.51	3.89	-3.40	7.78	-3.25	6.13	2.98
Operating Cash Flow to Interest Expense	13.22	18.43	8.77	8.33	15.03	10.50	4.23	10.36	17.47	7.84	4.62
Operating Cash Flow Less CapEx to Interest Expense	3.75	0.06	0.81	4.34	9.81	2.23	-1.52	7.20	14.42	5.87	3.76
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	3.33	2.07	1.71	1.97	2.10	1.94	1.15	2.07	2.62	1.97	1.96
Accounts Receivable Turnover	19.42	16.23	28.17	104.94	124.02	115.63	66.49	105.63	0.00	0.00	0.00
Inventory Turnover	40.22	21.36	18.85	24.27	28.23	26.10	15.05	28.02	44.96	36.46	33.56
Fixed Asset Turnover	10.02	5.44	4.22	4.94	5.25	0.00	0.00	0.00	0.00	0.00	0.00
Accounts Payable Turnover	14.17	10.70	9.83	10.53	13.40	12.60	8.17	14.58	15.16	11.53	12.26
Days Sales Outstanding (DSO)	18.80	22.49	12.96	3.48	2.94	3.16	5.49	3.46	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	9.08	17.09	19.36	15.04	12.93	13.98	24.25	13.03	8.12	10.01	10.88
Days Payable Outstanding (DPO)	25.75	34.11	37.15	34.68	27.23	28.96	44.67	25.04	24.08	31.67	29.78
Cash Conversion Cycle (CCC)	2.12	5.47	-4.83	-16.16	-11.36	-11.82	-14.92	-8.56	-15.96	-21.65	-18.90
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	15,276	17,608	17,618	20,478	20,873	22,747	21,278	18,467	30,213	32,384	32,409
Invested Capital Turnover	12.06	6.13	4.87	5.49	5.52	5.02	2.97	5.76	7.11	4.78	4.48
Increase / (Decrease) in Invested Capital	3,349	2,332	10	2,860	395	1,874	-1,469	-2,811	11,746	2,171	25
Enterprise Value (EV)	21,454	25,858	28,587	34,647	27,553	38,288	28,597	27,927	46,507	58,519	52,053
Market Capitalization	27,768	31,350	33,359	39,254	31,333	40,451	26,303	28,626	45,788	56,718	47,052
Book Value per Share	$39.01	$43.30	$42.99	$49.50	$53.46	$56.06	$43.46	$43.75	$62.40	$69.51	$66.36
Tangible Book Value per Share	$31.46	$35.47	$35.00	$41.32	$44.49	$46.74	$38.27	$38.50	$57.50	$63.90	$59.74
Total Capital	30,672	32,825	33,863	37,538	38,313	38,932	37,416	36,085	51,296	51,009	48,525
Total Debt	8,635	8,887	10,138	10,110	11,160	11,763	15,893	14,448	17,190	19,359	20,062
Total Long-Term Debt	7,793	8,843	9,588	10,069	11,093	11,216	14,906	12,959	16,661	17,877	18,231
Net Debt	-6,761	-6,330	-6,107	-6,950	-6,280	-4,422	-245	-3,170	-3,893	734	3,946
Capital Expenditures (CapEx)	2,529	5,694	2,688	1,746	2,627	3,787	2,869	1,833	1,884	1,763	777
Debt-free, Cash-free Net Working Capital (DFCFNWC)	1,233	1,695	1,056	1,205	1,322	1,682	2,231	238	429	2,244	2,916
Debt-free Net Working Capital (DFNWC)	6,440	4,769	3,767	4,324	4,341	3,296	4,745	3,385	6,562	5,567	4,654
Net Working Capital (NWC)	5,598	4,725	3,217	4,283	4,274	2,749	3,758	1,896	6,033	4,085	2,823
Net Nonoperating Expense (NNE)	-583	171	198	647	325	278	551	117	-1,655	428	549
Net Nonoperating Obligations (NNO)	-6,761	-6,330	-6,107	-6,950	-6,280	-4,422	-245	-3,170	-3,893	734	3,946
Total Depreciation and Amortization (D&A)	995	1,078	1,168	1,318	1,356	1,341	1,395	1,605	1,629	1,977	2,363
Debt-free, Cash-free Net Working Capital to Revenue	0.75%	1.68%	1.23%	1.15%	1.16%	1.54%	3.41%	0.21%	0.25%	1.50%	2.01%
Debt-free Net Working Capital to Revenue	3.93%	4.73%	4.40%	4.13%	3.80%	3.01%	7.25%	2.96%	3.79%	3.72%	3.20%
Net Working Capital to Revenue	3.41%	4.69%	3.75%	4.09%	3.74%	2.51%	5.74%	1.66%	3.49%	2.73%	1.94%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$8.40	$7.78	$2.94	$9.90	$11.87	$6.80	($9.06)	$2.97	$23.36	$15.56	$5.01
Adjusted Weighted Average Basic Shares Outstanding	565.90M	542.36M	527.53M	515.09M	470.71M	451.36M	439.53M	440.03M	471.50M	450.14M	420.17M
Adjusted Diluted Earnings per Share	$8.33	$7.73	$2.92	$9.85	$11.80	$6.77	($9.06)	$2.97	$23.27	$15.48	$4.99
Adjusted Weighted Average Diluted Shares Outstanding	571.50M	546.98M	530.07M	518.51M	474.05M	453.89M	439.53M	440.36M	473.73M	453.21M	421.89M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	543.50M	527.46M	517.82M	501.24M	454.91M	439.45M	436.93M	438.46M	463.91M	427.82M	407.70M
Normalized Net Operating Profit after Tax (NOPAT)	4,321	4,456	1,846	2,812	6,204	4,351	-187	3,084	9,783	7,685	3,095
Normalized NOPAT Margin	2.64%	4.42%	2.15%	2.69%	5.43%	3.98%	-0.29%	2.70%	5.66%	5.14%	2.13%
Pre Tax Income Margin	3.50%	5.99%	2.56%	3.40%	6.52%	3.82%	-7.59%	1.52%	8.46%	6.33%	1.84%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	22.52	20.50	7.48	9.12	15.77	10.12	-8.95	3.99	24.65	11.56	3.95
NOPAT to Interest Expense	15.78	14.36	5.45	13.46	12.30	7.98	-6.34	2.95	15.73	8.55	3.00
EBIT Less CapEx to Interest Expense	13.04	2.13	-0.47	5.13	10.56	1.85	-14.70	0.84	21.61	9.59	3.09
NOPAT Less CapEx to Interest Expense	6.31	-4.01	-2.50	9.47	7.09	-0.29	-12.09	-0.21	12.68	6.58	2.15
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	22.76%	28.46%	82.54%	28.87%	27.98%	53.63%	-50.19%	119.76%	17.36%	28.25%	89.75%
Augmented Payout Ratio	70.34%	63.79%	145.92%	59.17%	107.07%	102.49%	-62.12%	121.27%	35.04%	139.88%	248.41%

This table displays calculated financial ratios and metrics derived from Phillips 66's official financial filings.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	23.97%	-4.95%	-27.72%	-11.87%	-6.12%	3.70%	8.51%	-10.49%	-11.37%	-15.69%	-14.08%
EBITDA Growth	83.47%	155.11%	-34.65%	-54.53%	-25.99%	-48.93%	-32.15%	-66.35%	-60.99%	-2.06%	7.90%
EBIT Growth	118.40%	195.22%	-40.79%	-58.53%	-31.09%	-58.11%	-38.57%	-78.84%	-92.17%	-27.04%	-10.25%
NOPAT Growth	104.74%	151.76%	-43.29%	-31.09%	-42.40%	-60.91%	-35.60%	-78.20%	-91.70%	-18.84%	-13.27%
Net Income Growth	46.75%	216.13%	-45.51%	-61.32%	-36.13%	-63.36%	-41.18%	-82.78%	-98.05%	-30.88%	-10.98%
EPS Growth	48.44%	225.58%	-43.03%	-57.97%	-33.10%	-58.81%	-36.02%	-82.52%	-97.91%	-31.79%	-9.66%
Operating Cash Flow Growth	163.89%	5.55%	-46.44%	-14.60%	-53.89%	-119.68%	119.58%	-57.84%	-45.30%	179.24%	-59.70%
Free Cash Flow Firm Growth	-341.82%	-410.96%	-429.73%	120.45%	90.88%	82.57%	107.37%	-92.86%	109.66%	223.38%	-275.48%
Invested Capital Growth	63.61%	66.07%	57.44%	0.39%	7.19%	8.47%	1.44%	1.06%	0.08%	-4.37%	6.73%
Revenue Q/Q Growth	-10.24%	-14.64%	1.71%	13.09%	-4.38%	-5.93%	6.43%	-6.71%	-5.32%	-10.31%	8.96%
EBITDA Q/Q Growth	-56.44%	-1.63%	-9.46%	17.20%	-29.10%	-25.72%	20.30%	-41.88%	-17.81%	70.43%	32.53%
EBIT Q/Q Growth	-60.74%	-1.01%	-11.71%	20.88%	-34.77%	-32.48%	29.47%	-58.37%	-75.86%	460.65%	59.26%
NOPAT Q/Q Growth	-31.75%	-2.61%	-15.68%	22.96%	-42.95%	-32.91%	38.92%	-58.37%	-78.28%	550.13%	42.05%
Net Income Q/Q Growth	-63.68%	3.23%	-16.51%	23.59%	-40.04%	-40.78%	34.03%	-63.82%	-93.22%	2,004.00%	72.62%
EPS Q/Q Growth	-61.56%	-2.10%	-11.43%	26.08%	-38.81%	-39.72%	37.57%	-65.55%	-92.68%	1,866.67%	82.20%
Operating Cash Flow Q/Q Growth	51.08%	-74.76%	-20.35%	181.15%	-18.44%	-110.78%	988.56%	-46.02%	5.83%	-84.39%	351.87%
Free Cash Flow Firm Q/Q Growth	10.38%	-7.44%	2.33%	121.75%	-139.95%	-100.76%	141.29%	-78.92%	-45.94%	2,513.64%	-155.35%
Invested Capital Q/Q Growth	-6.89%	3.09%	3.91%	0.66%	-0.60%	4.33%	-2.82%	0.28%	-1.56%	-0.31%	8.46%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	14.39%	16.27%	14.23%	14.83%	12.19%	10.88%	10.46%	10.77%	9.97%	9.72%	12.90%
EBITDA Margin	8.22%	9.47%	8.43%	8.74%	6.48%	4.66%	5.27%	3.28%	2.85%	5.42%	6.59%
Operating Margin	7.00%	8.05%	6.76%	7.46%	4.65%	3.01%	3.99%	1.55%	0.45%	2.84%	3.70%
EBIT Margin	7.00%	8.11%	7.04%	7.53%	5.13%	3.28%	3.99%	1.78%	0.45%	2.84%	4.15%
Profit (Net Income) Margin	4.90%	5.93%	4.87%	5.32%	3.33%	2.09%	2.64%	1.02%	0.07%	1.72%	2.72%
Tax Burden Percent	78.99%	78.35%	77.27%	76.18%	72.97%	78.94%	77.80%	89.35%	-192.31%	81.17%	81.07%
Interest Burden Percent	88.68%	93.25%	89.40%	92.72%	88.98%	80.94%	85.02%	64.33%	-8.39%	74.57%	80.92%
Effective Tax Rate	21.01%	21.65%	22.73%	23.82%	27.03%	21.06%	22.20%	10.65%	0.00%	18.83%	18.93%
Return on Invested Capital (ROIC)	39.27%	43.25%	31.11%	26.58%	16.20%	11.04%	14.64%	6.32%	1.42%	9.72%	11.86%
ROIC Less NNEP Spread (ROIC-NNEP)	46.54%	46.96%	40.63%	136.05%	17.59%	37.46%	4.74%	-0.67%	-2.14%	4.56%	9.71%
Return on Net Nonoperating Assets (RNNOA)	-5.90%	-5.87%	-1.98%	-0.56%	-0.84%	-0.44%	0.28%	-0.04%	-0.17%	0.54%	1.43%
Return on Equity (ROE)	33.37%	37.37%	29.13%	26.01%	15.36%	10.60%	14.92%	6.28%	1.26%	10.26%	13.29%
Cash Return on Invested Capital (CROIC)	-8.26%	-5.29%	-8.16%	26.15%	17.56%	11.34%	15.91%	10.70%	8.33%	12.23%	0.62%
Operating Return on Assets (OROA)	18.33%	20.14%	16.11%	14.76%	10.11%	6.43%	8.13%	3.48%	0.89%	5.34%	7.32%
Return on Assets (ROA)	12.84%	14.71%	11.13%	10.42%	6.56%	4.11%	5.38%	2.00%	0.14%	3.23%	4.80%
Return on Common Equity (ROCE)	29.13%	34.12%	28.36%	23.53%	14.03%	9.67%	14.38%	6.06%	1.21%	9.89%	12.80%
Return on Equity Simple (ROE_SIMPLE)	0.00%	42.35%	38.01%	25.85%	0.00%	19.93%	17.68%	11.96%	0.00%	7.11%	0.00%
Net Operating Profit after Tax (NOPAT)	2,269	2,209	1,863	2,291	1,307	864	1,200	499	109	705	1,002
NOPAT Margin	5.53%	6.31%	5.23%	5.68%	3.39%	2.38%	3.10%	1.38%	0.32%	2.30%	3.00%
Net Nonoperating Expense Percent (NNEP)	-7.27%	-3.71%	-9.52%	-109.48%	-1.39%	-26.42%	9.90%	7.00%	3.57%	5.16%	2.15%
Return On Investment Capital (ROIC_SIMPLE)	4.42%	-	-	-	2.56%	-	-	-	0.22%	1.50%	2.02%
Cost of Revenue to Revenue	85.61%	83.73%	85.77%	85.17%	87.81%	89.12%	89.54%	89.23%	90.03%	90.28%	87.10%
SG&A Expenses to Revenue	5.74%	6.23%	5.55%	5.71%	5.75%	5.53%	5.07%	7.46%	6.12%	6.99%	6.06%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	7.39%	8.22%	7.46%	7.37%	7.54%	7.87%	6.47%	9.22%	9.52%	6.89%	9.20%
Earnings before Interest and Taxes (EBIT)	2,872	2,843	2,510	3,034	1,979	1,191	1,542	642	155	869	1,384
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	3,374	3,319	3,005	3,522	2,497	1,695	2,039	1,185	974	1,660	2,200
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.55	1.47	1.40	1.68	1.85	2.38	2.02	1.92	1.72	1.85	1.77
Price to Tangible Book Value (P/TBV)	1.68	1.60	1.52	1.83	2.02	2.59	2.20	2.12	1.91	2.05	1.95
Price to Revenue (P/Rev)	0.26	0.26	0.27	0.34	0.38	0.47	0.39	0.37	0.32	0.36	0.36
Price to Earnings (P/E)	4.15	3.60	3.84	6.78	8.09	12.19	11.59	16.33	22.23	27.12	28.30
Dividend Yield	3.95%	4.12%	4.42%	3.54%	3.26%	2.61%	3.07%	3.35%	3.95%	3.73%	3.90%
Earnings Yield	24.08%	27.80%	26.05%	14.75%	12.37%	8.21%	8.63%	6.12%	4.50%	3.69%	3.53%
Enterprise Value to Invested Capital (EV/IC)	1.54	1.46	1.37	1.64	1.81	2.21	1.91	1.80	1.61	1.71	1.61
Enterprise Value to Revenue (EV/Rev)	0.27	0.27	0.28	0.35	0.39	0.50	0.41	0.40	0.36	0.40	0.42
Enterprise Value to EBITDA (EV/EBITDA)	2.75	2.41	3.11	4.10	4.74	6.98	6.64	8.40	8.76	9.60	9.66
Enterprise Value to EBIT (EV/EBIT)	3.05	2.66	3.58	4.82	5.65	8.58	8.44	11.88	14.53	17.76	19.65
Enterprise Value to NOPAT (EV/NOPAT)	4.78	4.11	4.61	6.20	7.63	11.83	11.10	15.38	19.11	21.60	23.30
Enterprise Value to Operating Cash Flow (EV/OCF)	4.30	4.18	4.42	5.58	8.33	13.37	9.31	11.43	12.42	12.00	16.77
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	6.30	10.65	20.31	12.09	16.90	19.29	13.70	269.66
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.50	0.53	0.64	0.61	0.61	0.65	0.65	0.67	0.70	0.66	0.73
Long-Term Debt to Equity	0.49	0.51	0.61	0.58	0.56	0.58	0.56	0.62	0.64	0.63	0.60
Financial Leverage	-0.13	-0.13	-0.05	0.00	-0.05	-0.01	0.06	0.06	0.08	0.12	0.15
Leverage Ratio	2.37	2.42	2.48	2.38	2.31	2.34	2.45	2.47	2.46	2.51	2.57
Compound Leverage Factor	2.10	2.25	2.21	2.20	2.06	1.89	2.08	1.59	-0.21	1.87	2.08
Debt to Total Capital	33.51%	34.62%	39.01%	37.80%	37.95%	39.56%	39.55%	40.17%	41.34%	39.87%	42.24%
Short-Term Debt to Total Capital	1.03%	1.54%	1.63%	1.78%	2.91%	4.56%	5.51%	3.06%	3.77%	2.25%	7.54%
Long-Term Debt to Total Capital	32.48%	33.07%	37.38%	36.03%	35.05%	35.00%	34.04%	37.11%	37.57%	37.62%	34.70%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	8.99%	8.74%	2.28%	2.27%	2.09%	2.09%	2.08%	2.13%	2.17%	2.29%	2.29%
Common Equity to Total Capital	57.50%	56.65%	58.71%	59.92%	59.96%	58.35%	58.36%	57.70%	56.48%	57.84%	55.47%
Debt to EBITDA	1.02	0.98	1.39	1.49	1.57	1.88	2.11	2.84	3.37	3.26	3.59
Net Debt to EBITDA	-0.23	-0.20	0.09	0.05	0.06	0.28	0.25	0.45	0.66	0.69	1.13
Long-Term Debt to EBITDA	0.99	0.93	1.33	1.42	1.45	1.66	1.82	2.62	3.07	3.08	2.95
Debt to NOPAT	1.77	1.67	2.06	2.25	2.52	3.19	3.53	5.19	7.37	7.33	8.65
Net Debt to NOPAT	-0.40	-0.34	0.14	0.07	0.10	0.47	0.41	0.82	1.45	1.54	2.73
Long-Term Debt to NOPAT	1.71	1.60	1.97	2.15	2.33	2.82	3.04	4.80	6.69	6.92	7.11
Altman Z-Score	3.60	3.58	3.39	3.38	3.47	3.57	3.50	3.39	3.29	3.33	3.04
Noncontrolling Interest Sharing Ratio	12.71%	8.72%	2.62%	9.56%	8.64%	8.73%	3.60%	3.61%	3.53%	3.63%	3.70%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.38	1.54	1.33	1.29	1.26	1.17	1.14	1.21	1.19	1.23	1.07
Quick Ratio	1.08	1.11	0.83	0.89	0.95	0.74	0.73	0.76	0.85	0.79	0.63
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-9,477	-10,183	-9,945	2,163	-864	-1,774	733	154	84	2,182	-1,208
Operating Cash Flow to CapEx	1,169.95%	398.34%	177.51%	860.58%	357.84%	-37.70%	0.00%	814.39%	363.03%	0.00%	143.22%
Free Cash Flow to Firm to Interest Expense	-49.11	-53.03	-37.39	9.79	-3.96	-7.82	3.17	0.67	0.38	9.88	-4.58
Operating Cash Flow to Interest Expense	24.61	6.24	3.59	12.15	10.05	-1.04	9.08	4.94	5.45	0.85	3.20
Operating Cash Flow Less CapEx to Interest Expense	22.51	4.68	1.57	10.74	7.24	-3.80	10.45	4.34	3.95	8.14	0.97
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	2.62	2.48	2.29	1.96	1.97	1.96	2.04	1.96	1.96	1.88	1.77
Accounts Receivable Turnover	0.00	117.66	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	44.96	29.23	24.40	25.81	36.46	22.36	20.96	22.61	33.56	21.73	19.77
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Accounts Payable Turnover	15.16	12.27	11.10	10.34	11.53	11.38	11.88	11.27	12.26	10.80	10.33
Days Sales Outstanding (DSO)	0.00	3.10	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	8.12	12.49	14.96	14.14	10.01	16.33	17.42	16.14	10.88	16.80	18.46
Days Payable Outstanding (DPO)	24.08	29.74	32.88	35.30	31.67	32.07	30.72	32.39	29.78	33.81	35.34
Cash Conversion Cycle (CCC)	-15.96	-14.15	-17.92	-21.16	-21.65	-15.74	-13.31	-16.25	-18.90	-17.01	-16.88
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	30,213	31,147	32,365	32,578	32,384	33,785	32,832	32,923	32,409	32,308	35,042
Invested Capital Turnover	7.11	6.86	5.95	4.68	4.78	4.65	4.72	4.57	4.48	4.22	3.95
Increase / (Decrease) in Invested Capital	11,746	12,392	11,808	128	2,171	2,638	467	345	25	-1,477	2,210
Enterprise Value (EV)	46,507	45,509	44,439	53,546	58,519	74,766	62,732	59,222	52,053	55,378	56,376
Market Capitalization	45,788	44,611	41,972	51,789	56,718	70,707	59,355	55,021	47,052	50,343	48,625
Book Value per Share	$62.40	$65.20	$65.16	$69.22	$69.51	$69.30	$69.48	$68.62	$66.36	$66.90	$67.45
Tangible Book Value per Share	$57.50	$60.29	$60.21	$63.64	$63.90	$63.55	$63.69	$62.09	$59.74	$60.17	$61.33
Total Capital	51,296	53,401	50,926	51,433	51,009	50,947	50,467	49,782	48,525	47,156	49,562
Total Debt	17,190	18,485	19,866	19,444	19,359	20,154	19,960	19,998	20,062	18,803	20,935
Total Long-Term Debt	16,661	17,660	19,034	18,531	17,877	17,829	17,180	18,476	18,231	17,742	17,200
Net Debt	-3,893	-3,769	1,305	589	734	2,992	2,325	3,139	3,946	3,955	6,615
Capital Expenditures (CapEx)	406	301	538	312	612	626	-318	139	330	-1,611	590
Debt-free, Cash-free Net Working Capital (DFCFNWC)	429	1,825	2,730	2,454	2,244	3,792	2,981	3,270	2,916	2,968	4,074
Debt-free Net Working Capital (DFNWC)	6,562	8,790	5,759	5,993	5,567	5,362	5,425	4,907	4,654	4,457	5,126
Net Working Capital (NWC)	6,033	7,965	4,927	5,080	4,085	3,037	2,645	3,385	2,823	3,396	1,391
Net Nonoperating Expense (NNE)	257	132	129	148	22	103	180	130	84	179	94
Net Nonoperating Obligations (NNO)	-3,893	-3,769	1,305	589	734	2,992	2,325	3,139	3,946	3,955	6,415
Total Depreciation and Amortization (D&A)	502	476	495	488	518	504	497	543	819	791	816
Debt-free, Cash-free Net Working Capital to Revenue	0.25%	1.07%	1.73%	1.61%	1.50%	2.51%	1.94%	2.19%	2.01%	2.13%	3.04%
Debt-free Net Working Capital to Revenue	3.79%	5.14%	3.66%	3.94%	3.72%	3.56%	3.53%	3.28%	3.20%	3.19%	3.82%
Net Working Capital to Revenue	3.49%	4.65%	3.13%	3.34%	2.73%	2.01%	1.72%	2.26%	1.94%	2.43%	1.04%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$4.33	$4.21	$3.73	$4.72	$2.90	$1.74	$2.39	$0.82	$0.06	$1.19	$2.15
Adjusted Weighted Average Basic Shares Outstanding	471.50M	464.81M	454.45M	444.28M	450.14M	428.96M	422.87M	417.31M	420.17M	409.18M	406.76M
Adjusted Diluted Earnings per Share	$4.29	$4.20	$3.72	$4.69	$2.87	$1.73	$2.38	$0.82	$0.06	$1.18	$2.15
Adjusted Weighted Average Diluted Shares Outstanding	473.73M	467.03M	456.17M	447.26M	453.21M	431.91M	425.73M	418.80M	421.89M	410.51M	407.93M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	463.91M	458.86M	445.29M	439.96M	427.82M	423.95M	418.57M	412.99M	407.70M	407.58M	404.12M
Normalized Net Operating Profit after Tax (NOPAT)	2,315	2,216	1,866	2,293	1,313	994	1,190	525	134	-156	1,005
Normalized NOPAT Margin	5.64%	6.32%	5.24%	5.69%	3.41%	2.74%	3.08%	1.46%	0.39%	-0.51%	3.01%
Pre Tax Income Margin	6.20%	7.57%	6.30%	6.98%	4.57%	2.65%	3.39%	1.14%	-0.04%	2.12%	3.36%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	14.88	14.81	9.44	13.73	9.08	5.25	6.68	2.80	0.70	3.93	5.24
NOPAT to Interest Expense	11.76	11.51	7.00	10.37	5.99	3.80	5.19	2.18	0.49	3.19	3.80
EBIT Less CapEx to Interest Expense	12.78	13.24	7.41	12.32	6.27	2.49	8.05	2.20	-0.80	11.22	3.01
NOPAT Less CapEx to Interest Expense	9.65	9.94	4.98	8.95	3.19	1.05	6.57	1.57	-1.01	10.48	1.56
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	17.36%	15.93%	18.40%	26.39%	28.25%	33.13%	36.97%	56.36%	89.75%	101.75%	111.43%
Augmented Payout Ratio	35.04%	37.89%	88.92%	127.71%	139.88%	175.70%	114.13%	174.76%	248.41%	232.37%	227.02%

Key Financial Trends

Phillips 66 (NYSE: PSX) has demonstrated solid financial performance over the past four years, with key trends in revenue growth, profitability, cash flow, and balance sheet strength. Here are the key highlights and trends from their quarterly financial statements:

Net Income has shown an overall upward trend, growing from about $1.96 billion in Q1 2023 to $908 million in Q2 2025, with strong quarterly profit growth notably in 2024 and 2023.
Total Revenue experienced some fluctuations but generally sustained high levels, peaking at $41 billion in Q4 2022 and remaining above $33 billion recently, indicating stable sales volumes and pricing power.
Gross Profit margins have been solid, with total gross profit ranging from $3.4 billion to over $7 billion across quarters, supporting operational earnings.
Operating Expenses, including SG&A and depreciation, have been relatively stable as a percentage of revenue, showing operational efficiency.
Cash flow from continuing operations remained strong, with notable quarterly improvements in Q4 2022 (around $4.75 billion) and Q2 2024 ($2.1 billion), supporting capital expenditures and debt servicing.
Phillips 66 has steadily returned cash to shareholders through dividends, increasing cash dividends per share from $0.97 in Q4 2022 to $1.20 in Q2 2025, reflecting confidence in cash generation.
The company maintained a manageable debt profile, with long-term debt fluctuating but staying within approximately $17-$19 billion, indicating good balance sheet management.
Property, plant, and equipment net balances are recorded as zero, suggesting possible classification or reporting approach that may warrant further clarification for asset base insight.
There are considerable note & lease receivables and other noncurrent operating assets that appear large (above $37 billion), impacting asset structure and requiring monitoring of their recoverability and valuation.
Net cash from investing activities has been consistently negative, reflecting ongoing capital expenditures and investments that could pressure free cash flow if not matched by operating cash inflows.
Repurchases of common equity and repayments of debt have been significant, using substantial cash resources, which may limit liquidity flexibility if earnings or cash flow decline.
There are fluctuations in net cash from financing activities, including both issuances and repayments of debt, plus equity issuance and repurchases, which introduce some volatility in cash position.

Summary: Phillips 66 has shown resilient profitability and strong cash flow generation in recent years, with disciplined capital return to shareholders and active debt management. The company maintains a robust revenue base and generally solid operations with improving net income and dividends. However, continued high capital investment and share repurchases represent cash outflows that require close monitoring alongside operating cash flow trends. Investors should watch the company’s ability to sustain earnings growth and free cash flow to support debt service and shareholder returns in the current market environment.

08/25/25 04:50 AMAI Generated. May Contain Errors.

Frequently Asked Questions About Phillips 66's Financials

When does Phillips 66's fiscal year end?

According to the most recent income statement we have on file, Phillips 66's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Phillips 66's net income changed over the last 10 years?

Phillips 66's net income appears to be on an upward trend, with a most recent value of $2.18 billion in 2024, falling from $4.80 billion in 2014. The previous period was $7.24 billion in 2023. See Phillips 66's forecast for analyst expectations on what’s next for the company.

What is Phillips 66's operating income?

Phillips 66's total operating income in 2024 was $3.35 billion, based on the following breakdown:

Total Gross Profit: $15.29 billion
Total Operating Expenses: $11.94 billion

How has Phillips 66's revenue changed over the last 10 years?

Over the last 10 years, Phillips 66's total revenue changed from $163.97 billion in 2014 to $145.25 billion in 2024, a change of -11.4%.

How much debt does Phillips 66 have?

Phillips 66's total liabilities were at $44.12 billion at the end of 2024, a 0.6% increase from 2023, and a 65.5% increase since 2014.

How much cash does Phillips 66 have?

In the past 10 years, Phillips 66's cash and equivalents has ranged from $1.61 billion in 2019 to $6.13 billion in 2022, and is currently $1.74 billion as of their latest financial filing in 2024.

How has Phillips 66's book value per share changed over the last 10 years?

Over the last 10 years, Phillips 66's book value per share changed from 39.01 in 2014 to 66.36 in 2024, a change of 70.1%.

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This page (NYSE:PSX) was last updated on 8/25/2025 by MarketBeat.com Staff

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Phillips 66 (PSX) Financials

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Phillips 66 (PSX) Financials

Annual Income Statements for Phillips 66

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