Phillips 66 (PSX) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Phillips 66

NYSE•Energy•Oil & Gas Refining & Marketing

$274.21+9.58(0.04%)After hours

Market Cap

$106.10B

P/E

15.0x

P/S

0.7x

P/B

3.4x

Phillips 66 operates as an integrated downstream energy provider in the United States, the United Kingdom, Germany, and internationally. It operates through five segments: Midstream, Chemicals, Refining, Marketing and Specialties (M&S), and Renewable Fuels. The Midstream segment provides crude oil and refined petroleum product transportation, terminaling, and storage services, as well as natural gas and natural gas liquids (NGL) gathering, processing, transportation, fractionation, storage and marketing services. It also exports liquefied petroleum gas. The Chemicals segment produces and markets ethylene and other olefin products; aromatics and styrenics products, such as benzene, cyclohexane, styrene, and polystyrene; various specialty chemical products, including organosulfur chemicals, solvents, catalysts, and chemicals used in drilling and mining; and petrochemicals and plastics. The Refining segment refines crude oil and other feedstocks into petroleum products, such as gasolines and distillates, including aviation fuels. The M&S segment purchases for resale and markets refined products, including gasolines, distillates, and aviation fuels. This segment also manufactures and markets specialty products, such as automotive, commercial, industrial, and specialty lubricants, as well as base oils. The Renewable Fuels segment processes renewable feedstocks into renewable products, as well as supplies sustainable aviation fuel. This segment also procures renewable feedstocks, manages certain regulatory credits, and markets renewable diesel, renewable jet fuel, and other renewable fuels. The company markets its products under the Phillips 66, Conoco and 76, JET, Kendall, Red Line, and other private label brands. Phillips 66 was founded in 1875 and is headquartered in Houston, Texas.

How this company scores

GoodMetricSide Score: 76/100

Strongest: Cash & Earnings Quality (23/25); weakest: Balance Sheet & Red Flags (14/25).

Profitability19/25

Growth20/25

Balance Sheet & Red Flags14/25

Cash & Earnings Quality23/25

Strengths

Rising free cash flowHigh ROERising earningsCash-backed earnings

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 15.0x5y range 3.7x – 37.0x

Currently near its 19-quarter median.

P/S · 0.7x5y range 0.2x – 0.7x

Currently above its 20-quarter median.

P/B · 3.4x5y range 1.4x – 3.4x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Watch

FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.

Price & Volume

Market Cap $106.10B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $152.17B
Q. Revenue: $51.00B
TTM EBITDA: $7.48B
TTM Op. Income: $4.69B
Q. Op. Income: $3.93B
TTM Net Income: $7.09B
Q. Net Income: $3.85B
EPS: $9.587
Shares Out.: $400.95M

$152.17B in TTM revenue grew 14.4% YoY, reaching $51.00B last quarter. TTM EBITDA of $7.48B and TTM operating income of $4.69B show growth is flowing through to the bottom line. TTM net income of $7.09B means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 3 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 14.4%
EBITDA Margin: 8.9%
Op. Margin: 7.7%
Net Margin: 7.5%

Op. margin of 7.7% is up 4.9% YoY — cost efficiency is improving. Net margin at 7.5% and gross margin of 14.4% show how much of each revenue dollar survives to profit. Over the past year, operating margin is up 179% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 15.0x
P/S Ratio: 0.7x
P/B Ratio: 3.4x

At 15.0x P/E, the stock trades below typical market levels. P/S of 0.7x and P/B of 3.4x provide additional context. P/E sits below typical market levels while revenue is growing. Over the past year, P/E is down 47% — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $81.81B
Cash: $4.10B
Long-Term Debt: $18.77B
Book Value: $31.51B
D/E Ratio: 0.6
Debt/EBITDA: 4.2

With $81.81B in assets and $18.77B in long-term debt, D/E is 0.6and book value is $31.51B — a conservative capital structure with a cushion to weather downturns. Over the past year, debt/equity is down 5% — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $7.26B
TTM Free Cash Flow: $6.39B
FCF Margin: 4.2%
FCF / Net Income: 0.9

TTM FCF of $6.39B on $7.26B in operating cash flow. The FCF / Net Income ratio of 0.9x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is up 330% — an improving trend.