Phillips 66 (PSX)
Energy · Oil & Gas Refining & Marketing · US stock · S&P 500 component
$284.63
▼ -5.44 (1.88%)
Fair valueUndervalued
$339 +19.0% to fair value
$169fair band $288–$411$508
Day's range
$278.08 – $293.00
52-week range
$127.16 – $299.39
About Phillips 66
Phillips 66 is an energy manufacturing and logistics company. It refines crude oil into gasoline, diesel and jet fuel, operates pipelines and terminals, makes chemicals through a joint venture, and markets fuels and lubricants. Revenue comes from selling refined products and chemicals and from transportation fees, so earnings depend on the gap between crude costs and product prices, known as the refining margin.
Over the last twelve months Phillips 66 reported revenue of $152.2 billion, which fell 8.0% a year over the past three years. Shareholders receive a dividend, yielding 1.8%. The X-Ray Score is 52 out of 100, a summary of these measures. These readings summarise reported results and do not forecast future performance. The figures describe past results only and are drawn from the latest reported period.
Price chart
52-wk range $127.16 – $299.39Volume 2,035,768Daily, split-adjusted
Vitals
Market cap$114.6B
52-week range$127.16 – $299.39
Volume (last day)2,035,768
P/E (TTM)16.2
EBIT / EV yield–
Free-cash-flow yield–
Dividend yield1.8%
Revenue (TTM)$152.2B
Net income (TTM)$7.1B
Operating margin–
Return on capital–
Debt incl. leases$20.6B
Cash & securities$4.1B
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$339middle half of models $243 – $436
Undervalued
+19.0% to fair value
Average of the 6 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is Medium, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.
Price $285
Undervalued < $288Fair $288 – $411Overvalued > $411
P/E multiple
$274
P/B multiple
$216
P/S multiple
$450
EV/revenue multiple
$467
Dividend discount, stable
$232
Dividend discount, multi-stage
$393
A model estimate, not a price target or recommendation. Inputs: risk-free 5.13%, equity risk premium 4.30% (Damodaran). How it works.
What this means
Average business at a low price
Our models put fair value above today's price, but models can be wrong, so check the business first. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Energy peers. Open a lens to see the numbers behind it.
Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data
Valuation
Fair
63/100
Priced about in line with its sector.
See the numbers →
Fair value vs price1.2×
Growth
Weak
32/100
Growing slower than most of its sector.
See the numbers →
Revenue growth (3y)-8.0%
EPS growth (3y)-22.6%
Growth consistency50%
Profitability
Weak
29/100
Earns lower returns on its capital than most peers.
See the numbers →
Gross profitability24.4%
Financial health
Strong
85/100
Balance sheet looks strong: debt is well covered.
See the numbers →
Piotroski F-Score8 / 9
Dividends
Fair
55/100
Dividend is typical for its sector.
See the numbers →
Dividend yield1.8%
Dividend growth2.3%
Quarterly results: last 6 quarters
-15.0%
Mar '25
-12.6%
Jun '25
-2.9%
Sep '25
+1.3%
Dec '25
+6.9%
Mar '26
+53.1%
Jun '26
Revenue against the same quarter a year earlier. Latest quarter revenue $51.0B, diluted EPS $9.55.
Compare with peers
MPC Marathon Petroleum Cor...50 VLO Valero Energy Corp41Other Oil & Gas Refining & Marketing companies by X-Ray Score.
SWOT analysis: Phillips 66
Strengthsinside the company
- Passes 8 of the 9 Piotroski tests, which points to improving profitability, funding and efficiency.
Weaknessesinside the company
- Revenue has fallen 8.0% a year over three years (median -5.2% for sector peers).
- Earnings per share have declined 22.6% a year over three years.
Opportunitiesvaluation and setting
- The price is 19% below our fair value estimate, with the gap larger than the margin we allow for error.
- Our Market Compass rates the backdrop for Energy as favourable.
- Price momentum is strong on the weekly and monthly signals (trends can reverse).
Threatsvaluation and setting
- Earnings in Oil & Gas Refining & Marketing follow the industry cycle, so margins and profits can swing from year to year.
Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.
Compare PSX with peers and sector
Medians of 19 Energy peers and of 19 Energy stocks in our universe.
Largest peers (X-Ray Score): XOM 42, CVX 50, COP 58, MPC 50, VLO 41, WMB 38.
| Metric | PSX | Peers | Sector |
|---|---|---|---|
| X-Ray Score (out of 100) | 52 | 50 | 50 |
| Valuation | 63 | 47 | 47 |
| Growth | 32 | 53 | 53 |
| Profitability | 29 | 50 | 50 |
| Financial health | 85 | 48 | 48 |
| Dividends | 55 | 49 | 49 |
Sector leaders: highest X-Ray Score in Energy
PSX ranks #9 of 20 in Energy by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.
Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.
Factor ratings for PSX
Each factor is rated by where PSX stands among the 20 Energy stocks in our universe.
Rating against the sector
Goodthe top third of these stocks
Averagethe middle third of these stocks
Badthe bottom third of these stocks
"Beats" is the share of those stocks it is ahead of.
Against its own history
The last columns set today's figure against the company's own median of its last five financial years:
▲ Betterbetter than its usual level
▼ Worseworse than its usual level
≈ In linewithin its usual range
For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.
In total: 5 Good · 4 Average · 7 Bad of 16
Growth: 0 · 2 · 1
Profitability: 1 · 0 · 2
Financial strength: 1 · 1 · 0
Valuation: 1 · 1 · 1
Cash flow: 0 · 0 · 3
Efficiency: 2 · 0 · 0
| Factor | PSX | Rating | Sector median | Own 5-year median | Against own history |
|---|---|---|---|---|---|
| Growth | |||||
| Revenue growth, 3 years a year | −8.0% | Average beats 34% | −5.7% | – | – |
| Revenue growth, last year | −7.5% | Bad beats 3% | +3.9% | −2.9% | ▼ Worse |
| EPS growth, 3 years a year | −22.6% | Average beats 50% | −22.6% | – | – |
| Profitability | |||||
| Gross margin | 13.1% | Bad beats 7% | 47.1% | 11.8% | ▲ Better |
| Net margin | 4.7% | Bad beats 3% | 13.5% | 3.3% | ▲ Better |
| Return on equity | 22.5% | Good beats 68% | 15.2% | 15.1% | ▲ Better |
| Financial strength | |||||
| Current ratio | 1.32 | Average beats 63% | 1.19 | 1.26 | ≈ In line |
| Piotroski F-score | 8 / 9 | Good beats 93% | 6 / 9 | – | – |
| Valuation | |||||
| P/E ratio | 16.2x | Average beats 63% | 17.4x | 12.0x | ▼ Worse |
| Price / book | 3.6x | Bad beats 28% | 2.6x | 1.8x | ▼ Worse |
| Price / sales | 0.8x | Good beats 97% | 2.3x | 0.3x | ▼ Worse |
| Cash flow | |||||
| Free cash flow margin | 5.9% | Bad beats 13% | 13.2% | 4.8% | ▲ Better |
| Cash from operations / net income | 1.26 | Bad beats 8% | 1.95 | 1.13 | ▲ Better |
| Accruals (lower is better) | −2.2% | Bad beats 3% | −6.6% | – | – |
| Efficiency | |||||
| Inventory turnover | 22.3x | Good beats 91% | 4.2x | 32.5x | ▼ Worse |
| Days sales outstanding | 28 days | Good beats 97% | 43 days | 27 days | ≈ In line |
These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings). A dash in the history columns means fewer than three usable years.
Fundamentals checklist
● 2 Good · ● 5 Average · ● 1 BadCash quality
Earnings backed by cashBad
Risk models
Piotroski F-ScoreGood
Growth
EPS growth (3y)Average
Revenue growth (3y)Average
Growth consistencyAverage
Balance sheet
Current ratioAverage
Valuation
Fair value vs priceGood
Profitability
Gross profitabilityAverage
Each check is graded against the company's sector, not a fixed number. Checklist score 49/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $111.5B | $170.0B | $147.4B | $143.2B | $132.4B |
| Operating income | – | – | – | – | – |
| Net income | $1.3B | $11.0B | $7.0B | $2.1B | $4.4B |
| Operating cash flow | $6.0B | $10.8B | $7.0B | $4.2B | $5.0B |
| Operating margin | – | – | – | – | – |
| Free cash flow | – | – | – | – | – |
| Diluted EPS | $2.97 | $23.27 | $15.48 | $4.99 | $10.79 |
Fiscal years, from SEC filings.
Technical summary
Daily
Bullish
10 bullish · 4 neutral · 2 bearish
Weekly
Strongly bullish
11 bullish · 0 neutral · 1 bearish
Monthly
Strongly bullish
7 bullish · 0 neutral · 1 bearish
Moving averages (daily)
| SMA 10 | 288.8 | Bearish |
| EMA 10 | 286.2 | Bearish |
| SMA 20 | 276.3 | Bullish |
| EMA 20 | 279.3 | Bullish |
| SMA 50 | 261.4 | Bullish |
| EMA 50 | 260.1 | Bullish |
| SMA 100 | 225.8 | Bullish |
| EMA 100 | 235.2 | Bullish |
| SMA 200 | 193.4 | Bullish |
| EMA 200 | 204.7 | Bullish |
Oscillators (daily)
| RSI (14) | 59.95 | Neutral |
| MACD (12, 26) | 9.63 | Bullish |
| Momentum (12) | 5.50 | Bullish |
| Stochastic %K (14) | 60.49 | Neutral |
| Williams %R (14) | -39.51 | Neutral |
| CCI (20) | 47.13 | Neutral |
Pivot points (classic, last session)
S3 262.6 | S2 270.3 | S1 277.5 | Pivot 285.2 | R1 292.4 | R2 300.2 | R3 307.3 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
Dividends
Paid, last 12 months
5.01 USD
Yield on today's price
1.76%
Frequency
Quarterly
Next ex-dividend date
Not announced
| Ex-dividend date | Amount per share |
|---|---|
| 1.2700 | |
| 1.2700 | |
| 1.2700 | |
| 1.2000 | |
| 1.2000 | |
| 1.2000 | |
| 1.1500 | |
| 1.1500 | |
| 1.1500 | |
| 1.1500 | |
| 1.0500 | |
| 1.0500 |
Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.
ETFs that hold PSX
| ETF | Share of the fund |
|---|---|
| CRAK VanEck Oil Refiners | 6.25% |
| IEO iShares U.S. Oil & Gas Exploration & P... | 4.46% |
| XLE Energy Select Sector SPDR | 4.07% |
| IYE iShares U.S. Energy | 3.72% |
| ERX Direxion Daily Energy Bull 2X | 3.48% |
| FENY Fidelity MSCI Energy Index | 3.35% |
| VDE Vanguard Energy | 2.97% |
| FXN First Trust Energy AlphaDEX | 2.86% |
The eight funds with the largest weight in PSX among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.
PSX SEC filings
8-KSEC EDGAR
Director or officer change
8-KSEC EDGAR
Entered a material agreement
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations
8-KSEC EDGAR
Shareholder vote results
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations
8-KSEC EDGAR
Results of operations
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.