Phillips 66 (PSX) Key Metrics
PSX valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $116.98B
- Enterprise value
- $118.81B
- P/E (TTM)
- 16.8 10-yr median 12.0
- Forward P/E
- 9.7
- PEG ratio
- 0.82
- Price / sales
- 0.8 10-yr median 0.4
- Price / book
- 3.2 10-yr median 1.8
- EV / EBITDA
- 9.2 10-yr median 10.2
- Dividend yield
- 1.81% $5.32 a year
- Beta
- 0.70
PSX key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsPSX valuation Price multiples at each fiscal year-end price.
PSX returns How much profit the business earns on the capital it uses.
PSX per-share figures Results divided by the shares outstanding at year-end.
PSX financial health Debt, liquidity and how easily interest is covered.
PSX efficiency & capital use Working capital cycle and where the cash goes.
PSX valuation history
PSX returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
PSX debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
PSX cash returned to shareholders
PSX price vs earnings per share
PSX key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $52.66B | $48.07B | $60.34B | $49.31B | $31.91B | $30.74B | $50.57B | $40.84B | $52.45B | $45.80B |
| Enterprise value | $74.42B | $66.39B | $76.38B | $60.36B | $43.50B | $44.38B | $60.99B | $48.98B | $59.44B | $53.23B |
| P/E ratio | 12.0 | 22.7 | 8.6 | 4.5 | 24.3 | — | 16.4 | 7.3 | 10.3 | 29.5 |
| Price / sales | 0.4 | 0.3 | 0.4 | 0.3 | 0.3 | 0.5 | 0.5 | 0.4 | 0.6 | 0.6 |
| Price / book | 1.8 | 1.8 | 2.0 | 1.7 | 1.7 | 1.6 | 2.0 | 1.7 | 2.1 | 2.0 |
| Price / free cash flow | 19.3 | 20.6 | 13.1 | 5.7 | 7.7 | — | 54.1 | 8.3 | 28.9 | 384.9 |
| Price / operating cash flow | 10.6 | 11.5 | 8.6 | 4.6 | 5.3 | 14.6 | 10.5 | 5.4 | 14.4 | 15.5 |
| EV / sales | 0.6 | 0.5 | 0.5 | 0.4 | 0.4 | 0.7 | 0.6 | 0.4 | 0.7 | 0.7 |
| EV / EBITDA | 7.7 | 11.1 | 6.2 | 3.6 | 11.0 | — | 10.2 | 5.3 | 11.1 | 14.3 |
| EV / free cash flow | 27.3 | 28.5 | 16.6 | 7.0 | 10.5 | — | 65.2 | 9.9 | 32.7 | 447.3 |
| Earnings yield | 8.4% | 4.4% | 11.6% | 22.4% | 4.1% | −13.0% | 6.1% | 13.7% | 9.7% | 3.4% |
| Free cash flow yield | 5.2% | 4.9% | 7.6% | 17.5% | 13.0% | −2.6% | 1.8% | 12.1% | 3.5% | 0.3% |
| Dividend yield | 3.7% | 3.9% | 3.1% | 3.6% | 5.0% | 5.1% | 3.1% | 3.5% | 2.7% | 2.8% |
| Shareholder yield (dividends + buybacks) | 5.9% | 11.1% | 9.8% | 6.7% | 5.0% | 6.6% | 6.4% | 14.9% | 5.7% | 5.1% |
| Share price at fiscal year-end | $129.04 | $113.93 | $133.14 | $104.08 | $72.46 | $69.94 | $111.41 | $86.15 | $101.15 | $86.41 |
| Per share | ||||||||||
| Revenue per share | $323.95 | $339.23 | $324.93 | $359.10 | $254.21 | $144.91 | $236.72 | $234.72 | $172.70 | $134.60 |
| Earnings per share | $10.79 | $5.02 | $15.45 | $23.27 | $2.99 | −$9.06 | $6.78 | $11.80 | $9.85 | $2.93 |
| Operating cash flow per share | $12.16 | $9.93 | $15.51 | $22.83 | $13.66 | $4.80 | $10.59 | $15.98 | $7.04 | $5.59 |
| Free cash flow per share | $6.69 | $5.53 | $10.17 | $18.19 | $9.44 | −$1.84 | $2.06 | $10.41 | $3.50 | $0.22 |
| Cash per share | $2.73 | $4.12 | $7.33 | $12.95 | $7.15 | $5.72 | $3.56 | $6.37 | $6.02 | $5.11 |
| Book value per share | $71.30 | $64.97 | $67.48 | $62.26 | $43.52 | $43.19 | $54.88 | $52.01 | $48.38 | $42.24 |
| Tangible book value per share | $65.39 | $58.48 | $62.03 | $57.37 | $38.31 | $38.03 | $45.76 | $43.27 | $40.38 | $34.40 |
| Dividends per share | $4.71 | $4.46 | $4.15 | $3.78 | $3.60 | $3.58 | $3.46 | $3.03 | $2.69 | $2.42 |
| Capex per share | $5.47 | $4.41 | $5.34 | $4.63 | $4.22 | $6.64 | $8.53 | $5.57 | $3.53 | $5.37 |
| Debt per share | $56.08 | $47.55 | $42.72 | $36.29 | $33.47 | $36.76 | $26.53 | $23.54 | $19.50 | $19.13 |
| Shares outstanding | 408.1M | 421.9M | 453.2M | 473.7M | 440.4M | 439.5M | 453.9M | 474.0M | 518.5M | 530.1M |
| Change in shares outstanding | −3.3% | −6.9% | −4.3% | +7.6% | +0.2% | −3.2% | −4.3% | −8.6% | −2.2% | −3.1% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 15.6% | 7.3% | 23.3% | 45.3% | 6.9% | −18.1% | 12.4% | 22.5% | 21.5% | 6.8% |
| Return on invested capital (ROIC) | 6.1% | 4.1% | 14.5% | 22.0% | 3.5% | −4.2% | 7.7% | 12.3% | 6.5% | 3.9% |
| Return on assets (ROA) | 6.0% | 2.9% | 9.2% | 16.7% | 2.4% | −7.0% | 5.4% | 10.3% | 9.6% | 3.1% |
| Return on tangible assets | 6.2% | 3.0% | 9.6% | 14.9% | 2.5% | −7.6% | 5.6% | 11.2% | 10.2% | 3.3% |
| Free cash flow margin | 2.1% | 1.6% | 3.1% | 5.1% | 3.7% | −1.3% | 0.9% | 4.4% | 2.0% | 0.2% |
| Income quality (OCF / net income) | 1.13 | 1.98 | 1.00 | 0.98 | 4.58 | — | 1.56 | 1.35 | 0.71 | 1.91 |
| Financial health | ||||||||||
| Total debt | $22.88B | $20.06B | $19.36B | $17.19B | $14.74B | $16.16B | $12.04B | $11.16B | $10.11B | $10.14B |
| Cash & short-term investments | $1.12B | $1.74B | $3.32B | $6.13B | $3.15B | $2.51B | $1.61B | $3.02B | $3.12B | $2.71B |
| Net debt | $21.77B | $18.32B | $16.04B | $11.06B | $11.59B | $13.64B | $10.43B | $8.14B | $6.99B | $7.43B |
| Debt / equity | 0.79 | 0.73 | 0.63 | 0.58 | 0.77 | 0.85 | 0.48 | 0.45 | 0.40 | 0.45 |
| Debt / assets | 0.31 | 0.28 | 0.26 | 0.22 | 0.27 | 0.30 | 0.21 | 0.21 | 0.19 | 0.20 |
| Net debt / EBITDA | 2.24 | 3.06 | 1.30 | 0.65 | 2.93 | — | 1.74 | 0.87 | 1.31 | 2.00 |
| Current ratio | 1.30 | 1.19 | 1.26 | 1.38 | 1.15 | 1.39 | 1.24 | 1.48 | 1.42 | 1.34 |
| Quick ratio | 0.91 | 0.92 | 1.02 | 1.17 | 0.88 | 0.99 | 0.91 | 1.08 | 1.09 | 1.01 |
| Interest coverage | 3.4 | 2.6 | 9.2 | 16.3 | 2.1 | -3.7 | 7.0 | 10.0 | 4.6 | 4.5 |
| Working capital | $3.94B | $2.82B | $4.08B | $6.03B | $1.90B | $3.76B | $2.75B | $4.27B | $4.28B | $3.22B |
| Invested capital | $50.86B | $45.73B | $46.62B | $40.55B | $30.76B | $32.63B | $35.34B | $32.79B | $32.08B | $29.82B |
| Tangible asset value | $27.83B | $25.73B | $29.18B | $31.79B | $19.34B | $19.25B | $23.03B | $23.01B | $23.28B | $19.57B |
| Net current asset value | −$26.17B | −$26.21B | −$23.91B | −$20.41B | −$19.26B | −$19.92B | −$17.16B | −$13.94B | −$12.55B | −$15.25B |
| Graham number | $131.57 | $85.64 | $153.18 | $180.55 | $54.08 | — | $91.48 | $117.52 | $103.53 | $52.80 |
| Graham net-net per share | −$79.51 | −$76.11 | −$65.88 | −$55.57 | −$53.39 | −$54.25 | −$47.74 | −$37.40 | −$31.82 | −$35.55 |
| Capital allocation | ||||||||||
| Dividends paid | $1.92B | $1.88B | $1.88B | $1.79B | $1.58B | $1.57B | $1.57B | $1.44B | $1.40B | $1.28B |
| Share buybacks (net) | $1.21B | $3.45B | $4.01B | $1.51B | $0 | $443.0M | $1.65B | $4.64B | $1.59B | $1.05B |
| Dividend payout ratio | 43.7% | 88.9% | 26.9% | 16.3% | 120.5% | — | 51.0% | 25.7% | 27.3% | 82.4% |
| Dividends + buybacks / free cash flow | 114.7% | 228.7% | 127.9% | 38.4% | 38.1% | — | 344.4% | 123.2% | 164.4% | — |
| Capex / revenue | 1.7% | 1.3% | 1.6% | 1.3% | 1.7% | 4.6% | 3.6% | 2.4% | 2.0% | 4.0% |
| Capex / operating cash flow | 45.0% | 44.4% | 34.4% | 20.3% | 30.9% | 138.3% | 80.6% | 34.8% | 50.2% | 96.0% |
| Capex / depreciation | 0.69 | 0.77 | 1.21 | 1.35 | 1.16 | 2.09 | 2.89 | 1.91 | 1.37 | 2.39 |
| Stock-based compensation / revenue | — | — | 0.2% | 0.1% | 0.9% | 7.0% | 0.6% | 0.1% | 0.2% | 0.2% |
| R&D / revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 0.1% | 0.0% | 0.1% | 0.1% |
| SG&A / revenue | 1.8% | 2.0% | 1.7% | 5.2% | 1.6% | 2.4% | 1.6% | 1.5% | 1.9% | 2.3% |
| Efficiency | ||||||||||
| Days sales outstanding | 28.7 | 29.0 | 28.2 | 19.8 | 22.8 | 43.1 | 24.9 | 22.4 | 28.3 | 29.6 |
| Days of inventory on hand | 13.2 | 10.2 | 9.4 | 7.7 | 12.2 | 22.0 | 13.1 | 12.2 | 14.0 | 17.8 |
| Days payables outstanding | 27.8 | 28.0 | 29.8 | 22.9 | 23.6 | 40.6 | 27.1 | 25.6 | 32.2 | 34.2 |
| Cash conversion cycle (days) | 14.1 | 11.3 | 7.8 | 4.6 | 11.5 | 24.5 | 10.9 | 9.0 | 10.1 | 13.2 |
| Receivables turnover | 12.71 | 12.57 | 12.97 | 18.44 | 16.00 | 8.47 | 14.64 | 16.27 | 12.88 | 12.33 |
| Payables turnover | 13.11 | 13.04 | 12.24 | 15.91 | 15.50 | 8.99 | 13.47 | 14.25 | 11.32 | 10.67 |
| Inventory turnover | 27.65 | 35.70 | 38.71 | 47.18 | 29.80 | 16.56 | 27.91 | 30.02 | 26.11 | 20.48 |
| Asset turnover | 1.81 | 1.93 | 1.94 | 2.58 | 2.03 | 1.12 | 1.90 | 2.05 | 1.69 | 1.42 |
| Average receivables | $10.40B | $11.38B | $11.36B | $9.23B | $7.00B | $7.52B | $7.34B | $6.84B | $6.95B | $5.79B |
| Average payables | $9.59B | $10.60B | $11.11B | $9.89B | $7.00B | $7.06B | $7.58B | $7.31B | $7.54B | $6.36B |
| Average inventory | $4.55B | $3.87B | $3.51B | $3.33B | $3.64B | $3.83B | $3.66B | $3.47B | $3.27B | $3.31B |
| Intangibles / total assets | 3.3% | 3.8% | 3.3% | 3.0% | 4.1% | 4.1% | 7.0% | 7.6% | 7.6% | 8.0% |
Computed from PSX's annual financial statements (latest annual report filed February 20, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
PSX valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Phillips 66 traded at 12.0 times earnings, against a 10-year median of 12.0. Based on the latest twelve months, the trailing P/E is 16.8 and the forward P/E is 9.7. Phillips 66 earned a return on equity of 15.6% and a return on invested capital of 6.1% in fiscal 2025. It ended the year with $22.9 billion of debt and $1.1 billion in cash and short-term investments, net debt of $21.8 billion. It returned $3.1 billion to shareholders: $1.9 billion in dividends and $1.2 billion in share buybacks, 115% of free cash flow. The share count fell 23.0% from 530.1M to 408.1M over 9 years.
See the PSX income statement, the PSX chart for price history, or the PSX stock overview for the latest quote and news.
PSX key metrics FAQ
What is Phillips 66's P/E ratio?
Phillips 66's trailing P/E ratio is 16.8 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 9.7. At the end of fiscal 2025 it was 12.0, compared with a 10-year median of 12.0.
What is Phillips 66's EV/EBITDA?
Phillips 66's enterprise value was 7.7 times EBITDA at the end of fiscal 2025 (enterprise value $74.4 billion, EBITDA $9.7 billion); the current EV/EBITDA is 9.2.
What is Phillips 66's return on equity?
Phillips 66's return on equity (ROE) was 15.6% in fiscal 2025: net income of $4.4 billion on average shareholders' equity of $28.3 billion.
What is Phillips 66's ROIC?
Phillips 66's return on invested capital was 6.1% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Phillips 66 have?
Phillips 66 had total debt of $22.9 billion at the end of fiscal 2025, a debt-to-equity ratio of 0.79 and $21.8 billion of net debt (2.24 times EBITDA).
What is Phillips 66's dividend yield?
Phillips 66's forward dividend yield is 1.81%. Phillips 66 paid $1.9 billion in dividends in fiscal 2025 ($4.71 per share), a payout ratio of 43.7%.
Does Phillips 66 buy back its shares?
Yes. Phillips 66 spent $1.2 billion on net share repurchases in fiscal 2025 Shares outstanding changed −3.3% over the year, to 408.1M..
What is Phillips 66's free cash flow yield?
Phillips 66 generated $2.7 billion of free cash flow in fiscal 2025, a free cash flow yield of 5.2% on its market value at year-end ($52.7 billion).
What is Phillips 66's current ratio?
Phillips 66's current ratio was 1.30 at the end of fiscal 2025: current assets were 1.30 times current liabilities.