Is Phillips 66 (PSX) overvalued or fairly valued?

MarketChacha shows Phillips 66's valuation in context — a trailing P/E of about 20.4, a forward P/E of about 12.0, a price-to-book of about 3.2 — alongside its revenue and profit growth and whether reported profit converts into operating cash, so you can judge value for yourself. MarketChacha does not issue ratings, price targets, or buy/sell advice.

Does Phillips 66's reported profit turn into cash?

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash. MarketChacha computes this cash-conversion check (1.20×) from reported figures — education, not a rating.

What is Phillips 66's revenue?

Phillips 66 reported revenue of $132.4B for FY2025, with net profit of $4.4B, per official filings.

What is the share price of Phillips 66 (PSX)?

Phillips 66 last traded at $256.13 (+0.6% on the day), as of 9/4/2026 — a delayed quote shown for education, not investment advice.

Phillips 66

PSX · NYSE · Energy · United States

Snapshot

TickerPSX

ExchangeNYSE

SectorEnergy

IndustryOil & Gas Refining & Marketing

CountryUnited States

Employees12,600

HeadquartersHouston, United States

Websitewww.phillips66.com

Filings tracked18

About Phillips 66

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.

Who owns it

Insiders0.2%
Institutions80.6%
Public & other19.2%

2,567 institutional holders

Ownership breakdown from public market data.

Top holders

Blackrock Inc.8.55%
Vanguard Capital Management LLC6.56%
State Street Corporation6.53%
Vanguard Portfolio Management LLC5.57%
Elliott Investment Management L.P.4.82%
Wells Fargo & Company3.13%
Geode Capital Management, LLC2.79%
Morgan Stanley1.81%

Largest institutional holders — last updated 6/30/2026.

Forensic scorecard

No major accounting red flags in the fundamentals we have — profit is backed by cash and returns look healthy.

Cash conversion1.20×

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash.

Net margin trend4.8% → 3.3%

Margin has held broadly steady over the period — stable profitability.

Return on equity15.1%

Latest ROE of 15.1% — capital is generating a healthy return.

Growth qualityrev -5% · PAT -21%

Profit growth is broadly tracking revenue growth — the earnings trend looks operational rather than one-off.

Computed by MarketChacha from reported figures (SEC XBRL). Education, not a rating or recommendation.

What's expected next

Next quarter

Rev $40.2B · EPS 6.56

Est. earnings growth +165.4%

Next fiscal year

Rev $149.3B · EPS 21.00

Est. earnings growth -17.9%

Analyst consensus estimates — not the company's own guidance.

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Financials at a glance

Source: SEC XBRL

Annual

Quarterly · last 8

Revenue (FY2025)

$132.4B

Net margin

3.3%

ROE

15.1%

Revenue CAGR (2y)

-5.2%

Profit CAGR (2y)

-20.8%

EPS (FY2025)

10.79

Net profit (FY2025)

$4.4B

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Financials

Yearly

Period	Revenue	Net profit	EPS	Net margin	ROE
FY2025	$132.4B	$4.4B	10.79	3.3%	15.1%
FY2024	$143.2B	$2.1B	4.99	1.5%	7.7%
FY2023	$147.4B	$7.0B	15.48	4.8%	22.9%

Quarterly

Period	Revenue	Net profit	EPS	Net margin
2026Q2	$51.0B	$3.8B	9.55	7.5%
2026Q1	$32.5B	$207.0M	0.51	0.6%
2025Q3	$34.5B	$133.0M	0.32	0.4%
2025Q2	$33.3B	$877.0M	2.15	2.6%
2025Q1	$30.4B	$487.0M	1.18	1.6%
2024Q3	$35.5B	$346.0M	0.82	1.0%
2024Q2	$38.1B	$1.0B	2.38	2.7%
2024Q1	$35.8B	$748.0M	1.73	2.1%
2023Q3	$39.6B	$2.1B	4.69	5.3%
2023Q2	$35.1B	$1.7B	3.72	4.8%
2023Q1	$34.4B	$2.0B	4.20	5.7%

Figures as reported, in reporting currency. Source: SEC XBRL.

Filings & announcements

2026

8-K — Results of operations, Exhibits
SEC8/5/2026material
10-Q filing
SEC8/5/2026
8-K — Shareholder vote results
SEC5/14/2026material
8-K — Results of operations, Exhibits
SEC4/29/2026material
10-Q filing
SEC4/29/2026
8-K — Results of operations, Exhibits
SEC4/6/2026material
8-K — Material agreement, Material financial obligation, Exhibits
SEC3/18/2026material
8-K — Executive/director change
SEC3/9/2026material
10-K filing
SEC2/20/2026
8-K — Results of operations, Exhibits
SEC2/4/2026material

2025

8-K — Results of operations, Exhibits
SEC10/29/2025material
10-Q filing
SEC10/29/2025
8-K — Material agreement, Material financial obligation, Exhibits
SEC9/30/2025material
8-K — Other events, Exhibits
SEC9/18/2025material
8-K — Other events, Exhibits
SEC9/9/2025material
8-K — Other events
SEC8/6/2025material
10-Q filing
SEC7/28/2025
8-K — Results of operations, Exhibits
SEC7/25/2025material

In the news

Education and discussion only — not investment advice. Financials from official filings (SEC/BSE) and reported company statements; market figures (delayed market data) are delayed and shown for reference only. Verify with the linked sources before acting.