Phillips 66 (PSX) Income Statement
PSX 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsPSX revenue and net income
Where PSX's revenue goes
2025Each bar shows an amount and its share of revenue. PSX kept 3.3% of revenue as net income.
PSX profit margins
PSX growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −7.6% | −8.1% | +15.7% | +4.5% |
| Gross profit | +33.4% | −20.2% | +104.8% | +0.6% |
| Operating income | +51.4% | −29.6% | — | −1.6% |
| Net income | +108.0% | −26.4% | — | +0.4% |
| EPS (diluted) | +6.1% | −29.6% | — | −1.7% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
PSX quarterly EPS vs estimates
Phillips 66 beat the analyst EPS estimate in 7 of the last 8 quarters. Next report: October 28, 2026 (estimate $10.87).
PSX income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $132.19B | $143.12B | $147.26B | $170.12B | $111.94B | $63.69B | $107.44B | $111.27B | $89.55B | $71.35B |
| Cost of revenue | $125.70B | $138.25B | $135.98B | $157.35B | $108.56B | $63.51B | $102.13B | $104.12B | $85.43B | $67.87B |
| Gross profit | $6.49B | $4.86B | $11.29B | $12.77B | $3.38B | $180.0M | $5.32B | $7.14B | $4.12B | $3.48B |
| Research & development | $6.0M | $15.0M | $27.0M | $42.0M | $47.0M | $48.0M | $54.0M | $55.0M | $60.0M | $60.0M |
| Sales, general & admin | $2.44B | $2.81B | $2.52B | $8.81B | $1.74B | $1.54B | $1.68B | $1.68B | $1.70B | $1.64B |
| Total operating expenses | $2.97B | $2.54B | $3.02B | $2.70B | $2.15B | $2.01B | $2.09B | $2.10B | $2.10B | $1.95B |
| Operating income | $3.52B | $2.32B | $8.27B | $10.07B | $1.23B | −$1.83B | $3.23B | $5.04B | $2.01B | $1.53B |
| Interest income | $141.0M | $158.0M | $269.0M | $2.01B | $2.70B | $14.0M | $43.0M | $45.0M | $31.0M | $18.0M |
| Interest expense | $1.04B | $907.0M | $897.0M | $619.0M | $581.0M | $499.0M | $458.0M | $504.0M | $438.0M | $338.0M |
| Income before taxes | $5.42B | $2.67B | $9.47B | $14.64B | $1.74B | −$4.96B | $4.18B | $7.45B | $3.56B | $2.19B |
| Income taxes | $892.0M | $500.0M | $2.23B | $3.25B | $146.0M | −$1.25B | $801.0M | $1.57B | −$1.69B | $547.0M |
| Net income | $4.40B | $2.12B | $7.00B | $11.02B | $1.31B | −$3.98B | $3.08B | $5.59B | $5.11B | $1.55B |
| EBITDA | $9.71B | $5.99B | $12.37B | $16.91B | $3.95B | −$3.05B | $6.00B | $9.33B | $5.33B | $3.72B |
| EPS (diluted) | $6.47 | $6.10 | $15.80 | $18.55 | $5.70 | −$0.89 | $8.07 | $11.81 | $4.38 | $2.82 |
| Gross margin | 4.9% | 3.4% | 7.7% | 7.5% | 3.0% | 0.3% | 4.9% | 6.4% | 4.6% | 4.9% |
| Operating margin | 2.7% | 1.6% | 5.6% | 5.9% | 1.1% | −2.9% | 3.0% | 4.5% | 2.2% | 2.1% |
| Net margin | 3.3% | 1.5% | 4.8% | 6.5% | 1.2% | −6.3% | 2.9% | 5.0% | 5.7% | 2.2% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $51.00B | $34.08B | $34.02B | $34.51B | $33.17B | $30.50B | $33.71B | $35.29B | $38.10B | $36.01B | $38.05B | $39.98B |
| Cost of revenue | $43.66B | $30.45B | $31.88B | $32.59B | $31.29B | $29.91B | $33.10B | $34.48B | $36.58B | $34.09B | $36.05B | $35.96B |
| Gross profit | $7.34B | $3.62B | $2.14B | $1.91B | $1.89B | $586.0M | $612.0M | $813.0M | $1.52B | $1.92B | $2.00B | $4.02B |
| Research & development | — | — | — | — | — | — | — | — | — | — | $27.0M | — |
| Sales, general & admin | $538.0M | $537.0M | $544.0M | $792.0M | $582.0M | $519.0M | $511.0M | $1.19B | $552.0M | $557.0M | $658.0M | $669.0M |
| Total operating expenses | $2.35B | $771.0M | $642.0M | $1.01B | $800.0M | $752.0M | $573.0M | $1.25B | $601.0M | $722.0M | $763.0M | $785.0M |
| Operating income | $4.99B | $2.85B | $1.50B | $901.0M | $1.08B | −$166.0M | $39.0M | −$434.0M | $919.0M | $1.20B | $1.24B | $3.23B |
| Interest income | — | — | $186.0M | $76.0M | $104.0M | $47.0M | $5.0M | $319.0M | — | — | — | $344.0M |
| Interest expense | $314.0M | $286.0M | $295.0M | $259.0M | $264.0M | $221.0M | $220.0M | $229.0M | $231.0M | $227.0M | $218.0M | $221.0M |
| Income before taxes | $4.97B | $260.0M | $3.45B | $199.0M | $1.12B | $648.0M | −$13.0M | $413.0M | $1.31B | $964.0M | $1.76B | $2.81B |
| Income taxes | $1.09B | $41.0M | $526.0M | $32.0M | $212.0M | $122.0M | −$38.0M | $44.0M | $291.0M | $203.0M | $476.0M | $670.0M |
| Net income | $3.85B | $207.0M | $2.91B | $133.0M | $877.0M | $487.0M | $8.0M | $346.0M | $1.01B | $748.0M | $1.26B | $2.10B |
| EBITDA | $5.87B | $1.10B | $4.57B | $1.28B | $2.20B | $1.66B | $1.04B | $1.19B | $2.05B | $1.70B | $2.51B | $3.53B |
| EPS (diluted) | $9.41 | $0.49 | $2.47 | $2.52 | $2.38 | −$0.90 | −$0.15 | $2.04 | $2.31 | $1.90 | $3.09 | $4.63 |
| Gross margin | 14.4% | 10.6% | 6.3% | 5.5% | 5.7% | 1.9% | 1.8% | 2.3% | 4.0% | 5.3% | 5.3% | 10.1% |
| Operating margin | 9.8% | 8.4% | 4.4% | 2.6% | 3.3% | −0.5% | 0.1% | −1.2% | 2.4% | 3.3% | 3.3% | 8.1% |
| Net margin | 7.5% | 0.6% | 8.5% | 0.4% | 2.6% | 1.6% | 0.0% | 1.0% | 2.7% | 2.1% | 3.3% | 5.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in PSX's financial statements (latest annual report filed February 20, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
PSX financial results
In fiscal year 2025 (ended December 31, 2025), Phillips 66 reported revenue of $132.2 billion, down 7.6% from the year before. It had net income of $4.4 billion (up 108.0%), a net profit margin of 3.3%. Diluted earnings per share came to $6.47. Over five years revenue grew at an average rate of 15.7% a year.
See the PSX stock overview for the latest quote and news, or the PSX chart for price history and technical indicators.
PSX income statement FAQ
What is Phillips 66's annual revenue?
Phillips 66 reported total revenue of $132.2 billion for fiscal year 2025, which ended on December 31, 2025. That was down 7.6% from $143.1 billion the previous year.
Is Phillips 66 profitable?
Yes. Phillips 66 reported net income of $4.4 billion in fiscal 2025, a net profit margin of 3.3%; its operating margin was 2.7%.
What is Phillips 66's gross margin?
Phillips 66's gross margin was 4.9% in fiscal 2025: for every $100 of revenue, Phillips 66 kept $5 after the direct cost of its products and services.
How much does Phillips 66 spend on research and development?
Phillips 66 spent $6.0 million on research and development in fiscal 2025, 0.0% of revenue.
How fast is Phillips 66 growing?
Revenue grew 15.7% a year on average over the last five fiscal years, from $63.7 billion to $132.2 billion.
What are Phillips 66's earnings per share?
Phillips 66 earned $6.47 per diluted share in fiscal 2025, compared with $6.10 a year earlier.
When will Phillips 66 report its next earnings?
Phillips 66 is expected to report results for the quarter ending September 30, 2026 on October 28, 2026 before the market opens.
When does Phillips 66's fiscal year end?
Phillips 66's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 20, 2026.