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

$271.94-3.10(-0.01%)After hours

Market Cap

$107.96B

P/E

8.6x

P/S

0.6x

P/B

3.1x

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

ExcellentMetricSide Score: 81/100

Strongest: Growth (23/25); weakest: Balance Sheet & Red Flags (16/25).

Profitability21/25

Growth23/25

Balance Sheet & Red Flags16/25

Cash & Earnings Quality21/25

Strengths

Growing revenueRising free cash flowHigh ROERising earnings

Valuation vs. 5-year range

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

P/E · 8.6x5y range 3.7x – 37.0x

Currently below its 20-quarter median.

P/S · 0.6x5y range 0.2x – 0.6x

Currently above its 20-quarter median.

P/B · 3.1x5y range 1.4x – 3.1x

Currently above its 20-quarter median.

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.

Cash Burn

Watch

FCF turned negative in 2 of the last 8 quarters — occasional cash consumption.

Price & Volume

Market Cap $107.96B

Metrics at a Glance

as of September 2026

Revenue & Profit

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

TTM Revenue: $168.19B
Q. Revenue: $50.54B
TTM EBITDA: $13.65B
TTM Op. Income: $11.10B
Q. Op. Income: $6.14B
TTM Net Income: $12.58B
Q. Net Income: $5.62B
EPS: $14.141
Shares Out.: $397.01M

$168.19B in TTM revenue grew 27.5% YoY, reaching $50.54B last quarter. TTM EBITDA of $13.65B and TTM operating income of $11.10B show growth is flowing through to the bottom line. TTM net income of $12.58B means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 4 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 19.2%
EBITDA Margin: 13.3%
Op. Margin: 12.2%
Net Margin: 11.1%

Op. margin of 12.2% is up 12.9% YoY — cost efficiency is improving. Net margin at 11.1% and gross margin of 19.2% show how much of each revenue dollar survives to profit. Across the last 8 quarters, operating margin has risen for 2 consecutive quarters — an improving trend.

Price Ratios

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

P/E Ratio: 8.6x
P/S Ratio: 0.6x
P/B Ratio: 3.1x

At 8.6x P/E, the stock trades below typical market levels. P/S of 0.6x and P/B of 3.1x provide additional context. P/E sits below typical market levels while revenue is growing. Across the last 8 quarters, P/E has fallen for 2 consecutive quarters — an improving trend.

Assets & Liabilities

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

Total Assets: $85.95B
Cash: $5.85B
Long-Term Debt: $17.48B
Book Value: $34.33B
D/E Ratio: 0.5
Debt/EBITDA: 2.6

With $85.95B in assets and $17.48B in long-term debt, D/E is 0.5and book value is $34.33B — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has fallen for 2 consecutive quarters — an improving trend.

Cash Flow

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

Op. Cash Flow: $7.28B
TTM Free Cash Flow: $12.36B
FCF Margin: 7.3%
FCF / Net Income: 1.0

TTM FCF of $12.36B on $7.28B in operating cash flow. The FCF / Net Income ratio of 1.0x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has risen for 2 consecutive quarters — an improving trend.