Phillips 66

Energy
Integrated oil Companies
www.phillips66.com

Earnings Score

Market Cap $42.95B
PE 23
Debt $18.80B
Cash $1.49B
EV $60.27B
FCF -

Earnings

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Sales & Net Margins

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Earnings	$1.85B
ROE	7%
Equity	$28.35B
Growth Stability	-87%
PE	23.27
PEG	-2.59
PB	1.51
P/S	0.31
Price/Cash	0.03
Debt/Equity	0.66
Net Margins	2%
Gross Margins	9%
Earnings CAGR	5%
Sales Growth YoY	-15%
Sales Growth QoQ	-10%
Sales CAGR	7%
Equity CAGR	3%
Earnings Stability	0.05
Earnings Growth YoY	-35%
Earnings Growth QoQ	8K%
Earnings CAGR 5Y	-9%
Sales CAGR 5Y	19%

Equity CAGR 5Y	10%
Earnings CAGR 3Y	-5%
Sales CAGR 3Y	-5%
Equity CAGR 3Y	-2%
Market Cap	$42.95B
Revenue	$137.77B
Dividend Yield	4%
Payout Ratio	103%
Assets	$71.84B
Total Debt	$18.80B
Cash	$1.49B
Shares Outstanding	407.56M
EV	60.27B
Earnings Score	7%
Working Capital	3.4B
Current Ratio	1.23
Gross Profit	$12.54B
Shares Growth 3y	-5%
Equity Growth QoQ	-0%
Equity Growth YoY	-8%

Assets & ROA

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Stockholders Equity & ROE

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Phillips 66 is an independent refiner with 12 refineries that have a total crude throughput capacity of 2.0 million barrels per day, or mmb/d, after converting its 255 mb/d Alliance refinery to a terminal. The midstream segment comprises extensive transportation and NGL processing assets. It also includes its DCP Midstream joint venture, which holds 45 natural gas processing facilities, 11 NGL fractionation plants, and a natural gas pipeline system with 58,000 miles of pipeline. Its CPChem chemical joint venture operates facilities in the United States and the Middle East and primarily produces olefins and polyolefins.

SEC Filings

Direct access to Phillips 66 (PSX) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2025
- 10-Q Mar 31
2024
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Phillips 66 compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Phillips 66 compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 5%

Stability 5%

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Phillips 66 Discounted Cash Flow

Fully customizable DCF calculator online for Phillips 66.

Years

Calculation mode

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
DCF		$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Value	$0

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Net Margins	4%	2%	5%	5%	3%	-6%	1%	6%	5%	1%	2%
ROA	-	4%	7%	14%	7%	-9%	-	-	-	-	-
ROE	-	7%	19%	21%	11%	-19%	6%	32%	22%	7%	7%

Bad Net Margins (1.59%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Debt over FCF	-	-	-	-	-	-	-	-	-	-	-
Debt over Equity	0.37	0.45	0.37	0.41	0.43	0.74	0.67	0.5	0.61	0.7	0.66
Growth Stability	-	-	-	100%	75%	-87%	84%	100%	100%	33%	-87%

Neutral Debt/FCF ratio (-)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Good Debt/Equity ratio (0.66)

The company is not overleveraged and has a good balance between equity and debt.

Bad Graham’s Stability (-87%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	CAGR 5Y
Revenue YoY growth	-	-15%	21%	9%	-4%	-40%	74%	52%	-13%	-3%	19%
Earnings YoY growth	-	-63%	229%	10%	-45%	-230%	-133%	743%	-36%	-70%	-9%
Equity YoY growth	-	-1%	16%	-1%	0%	-21%	1%	58%	-7%	-10%	10%
FCF YoY growth	-	-	-	-	-	-	-	-	-	-	-