Phillips 66 (PSX) Financial Ratios
17 years of historical data (2009–2025) · Energy · Oil & Gas Refining & Marketing
EV/EBITDA
↓
12.96
↑+23% vs avg
5yr avg: 10.56
30Y Low5.1·High19.5
P/FCF
↑
24.41
↑+84% vs avg
5yr avg: 13.28
30Y Low5.7·High54.1
P/B Ratio
↑
2.24
↑+36% vs avg
5yr avg: 1.65
30Y Low1.4·High2.1
ROE
↑
15.0%
-16% vs avg
5yr avg: 17.8%
30Y Low-16%·High40%
Debt/EBITDA
↓
3.36
+4% vs avg
5yr avg: 3.22
30Y Low0.1·High5.2
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
PSX Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Phillips 66 trades at 15.4x earnings, 7% above its 5-year average of 14.5x, sitting at the 69th percentile of its historical range. This is roughly in line with the Energy sector median P/E of 15.5x. On a free-cash-flow basis, the stock trades at 24.4x P/FCF, 84% above the 5-year average of 13.3x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $66.6B | $52.7B | $48.1B | $60.3B | $49.3B | $31.9B | $30.7B | $50.6B | $40.8B | $52.4B | $45.8B |
| Enterprise Value | $88.4B | $74.4B | $66.4B | $76.4B | $60.4B | $43.5B | $44.4B | $61.0B | $49.0B | $59.4B | $53.2B |
| P/E Ratio → | 15.40 | 11.96 | 22.83 | 8.62 | 4.47 | 24.40 | — | 16.46 | 7.30 | 10.27 | 29.59 |
| P/S Ratio | 0.50 | 0.40 | 0.34 | 0.41 | 0.29 | 0.29 | 0.48 | 0.47 | 0.37 | 0.59 | 0.64 |
| P/B Ratio | 2.24 | 1.74 | 1.69 | 1.91 | 1.45 | 1.47 | 1.43 | 1.86 | 1.50 | 1.91 | 1.93 |
| P/FCF | 24.41 | 19.29 | 20.61 | 13.09 | 5.72 | 7.68 | — | 54.08 | 8.28 | 28.88 | 384.90 |
| P/OCF | 13.42 | 10.61 | 11.47 | 8.58 | 4.56 | 5.30 | 14.56 | 10.52 | 5.39 | 14.38 | 15.46 |
P/E links to full P/E history page with 30-year chart
PSX EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Phillips 66's enterprise value stands at 13.0x EBITDA, 23% above its 5-year average of 10.6x. The Energy sector median is 7.8x, placing the stock at a 65% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.56 | 0.46 | 0.52 | 0.35 | 0.39 | 0.70 | 0.57 | 0.44 | 0.66 | 0.75 |
| EV / EBITDA | 12.96 | 10.92 | 14.04 | 7.43 | 5.15 | 15.24 | — | 13.29 | 7.63 | 17.72 | 19.55 |
| EV / EBIT | 25.11 | 11.52 | 18.53 | 7.37 | 3.96 | 18.74 | — | 13.16 | 6.16 | 14.89 | 21.05 |
| EV / FCF | — | 27.27 | 28.47 | 16.56 | 7.00 | 10.46 | — | 65.23 | 9.93 | 32.73 | 447.31 |
PSX Profitability
Margins and return-on-capital ratios measuring operating efficiency
Phillips 66 earns an operating margin of 2.7%, below the Energy sector average of 13.8%. Operating margins have compressed from 5.6% to 2.7% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 15.0% indicates solid capital efficiency, compared to the sector median of 7.2%. ROIC of 5.3% represents adequate returns on invested capital versus a sector median of 6.2%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 4.9% | 4.9% | 3.4% | 7.7% | 7.5% | 3.0% | 0.3% | 4.9% | 6.4% | 4.6% | 4.9% |
| Operating Margin | 2.7% | 2.7% | 1.6% | 5.6% | 5.9% | 1.1% | -2.9% | 3.0% | 4.5% | 2.2% | 2.1% |
| Net Profit Margin | 3.3% | 3.3% | 1.5% | 4.8% | 6.5% | 1.2% | -6.3% | 2.9% | 5.0% | 5.7% | 2.2% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 15.0% | 15.0% | 7.0% | 21.3% | 39.6% | 6.1% | -16.4% | 11.3% | 20.5% | 20.0% | 6.5% |
| ROA | 6.0% | 6.0% | 2.9% | 9.2% | 16.7% | 2.4% | -7.0% | 5.4% | 10.3% | 9.6% | 3.1% |
| ROIC | 5.3% | 5.3% | 3.7% | 13.4% | 19.3% | 2.7% | -3.8% | 6.6% | 10.8% | 4.6% | 3.8% |
| ROCE | 6.0% | 6.0% | 4.0% | 13.8% | 19.5% | 2.8% | -4.0% | 7.0% | 11.3% | 4.7% | 3.7% |
PSX Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Phillips 66 carries a Debt/EBITDA ratio of 3.4x, which is moderately leveraged (29% above the sector average of 2.6x). Net debt stands at $21.8B ($22.9B total debt minus $1.1B cash). Interest coverage of 6.2x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.76 | 0.76 | 0.70 | 0.61 | 0.50 | 0.68 | 0.75 | 0.44 | 0.41 | 0.37 | 0.43 |
| Debt / EBITDA | 3.36 | 3.36 | 4.24 | 1.88 | 1.47 | 5.16 | — | 2.62 | 1.74 | 3.01 | 3.72 |
| Net Debt / Equity | — | 0.72 | 0.64 | 0.51 | 0.32 | 0.54 | 0.63 | 0.38 | 0.30 | 0.25 | 0.31 |
| Net Debt / EBITDA | 3.19 | 3.19 | 3.88 | 1.56 | 0.94 | 4.06 | — | 2.27 | 1.27 | 2.08 | 2.73 |
| Debt / FCF | — | 7.98 | 7.86 | 3.48 | 1.28 | 2.79 | — | 11.15 | 1.65 | 3.85 | 62.41 |
| Interest Coverage | 6.22 | 6.22 | 3.95 | 11.56 | 24.65 | 3.99 | -8.95 | 10.12 | 15.77 | 9.12 | 7.48 |
PSX Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.30x means Phillips 66 can comfortably meet its short-term obligations, though there is limited excess liquidity. The quick ratio of 0.91x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.30 | 1.30 | 1.19 | 1.26 | 1.38 | 1.15 | 1.39 | 1.24 | 1.48 | 1.42 | 1.34 |
| Quick Ratio | 0.91 | 0.91 | 0.92 | 1.02 | 1.17 | 0.88 | 0.99 | 0.91 | 1.08 | 1.09 | 1.01 |
| Cash Ratio | 0.08 | 0.08 | 0.12 | 0.21 | 0.39 | 0.25 | 0.26 | 0.14 | 0.34 | 0.31 | 0.29 |
| Asset Turnover | — | 1.79 | 1.97 | 1.95 | 2.23 | 2.01 | 1.16 | 1.83 | 2.05 | 1.65 | 1.38 |
| Inventory Turnover | 24.66 | 24.66 | 34.61 | 36.26 | 48.03 | 31.99 | 16.31 | 27.05 | 29.39 | 25.16 | 21.55 |
| Days Sales Outstanding | — | 26.98 | 28.14 | 29.07 | 23.57 | 24.36 | 37.38 | 28.91 | 20.25 | 30.59 | 32.73 |
PSX Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Phillips 66 returns 4.6% to shareholders annually — split between a 2.8% dividend yield and 1.8% buyback yield. A payout ratio of 43.7% is moderate and appears sustainable, balancing shareholder returns with reinvestment capacity. The earnings yield of 6.5% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.8% | 3.7% | 3.9% | 3.1% | 3.6% | 5.0% | 5.1% | 3.1% | 3.5% | 2.7% | 2.8% |
| Payout Ratio | 43.7% | 43.7% | 88.9% | 26.9% | 16.3% | 120.5% | — | 51.0% | 25.7% | 27.3% | 82.4% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.5% | 8.4% | 4.4% | 11.6% | 22.4% | 4.1% | — | 6.1% | 13.7% | 9.7% | 3.4% |
| FCF Yield | 4.1% | 5.2% | 4.9% | 7.6% | 17.5% | 13.0% | — | 1.8% | 12.1% | 3.5% | 0.3% |
| Buyback Yield | 1.8% | 2.3% | 7.2% | 6.7% | 3.1% | 0.0% | 1.4% | 3.3% | 11.4% | 3.0% | 2.3% |
| Total Shareholder Yield | 4.6% | 5.9% | 11.1% | 9.8% | 6.7% | 5.0% | 6.6% | 6.4% | 14.9% | 5.7% | 5.1% |
| Shares Outstanding | — | $408M | $422M | $453M | $474M | $440M | $440M | $454M | $474M | $519M | $530M |
Peer Comparison
Compare PSX with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 PSXYou | $67B | 15.4 | 13.0 | 24.4 | 4.9% | 2.7% | 15.0% | 5.3% | 3.4 |
 VLO | $71B | 31.2 | 10.4 | 14.0 | 4.4% | 3.5% | 8.7% | 9.5% | 1.6 |
 MPC | $71B | 18.3 | 11.3 | 14.9 | 7.5% | 4.3% | 16.7% | 8.3% | 3.8 |
 PBF | $4B | -26.8 | 11.1 | — | -1.9% | -0.2% | -2.8% | -0.5% | 4.8 |
 DK | $3B | -109.1 | 6.6 | 115.5 | 5.3% | 3.7% | -4.1% | 9.9% | 4.2 |
 CVX | $346B | 26.2 | 10.4 | 20.9 | 30.4% | 9.0% | 7.1% | 6.2% | 1.3 |
 XOM | $584B | 20.6 | 10.3 | 24.7 | 21.7% | 10.5% | 10.7% | 8.6% | 0.7 |
 COP | $131B | 17.0 | 6.4 | 7.8 | 24.6% | 19.6% | 12.4% | 10.4% | 1.0 |
 MPLX | $58B | 11.8 | 13.4 | 14.1 | 45.2% | 40.3% | 34.4% | 9.9% | 4.3 |
 ENB | $119B | 23.9 | 18.8 | 37.3 | 33.0% | 16.8% | 9.4% | 4.1% | 8.8 |
 WES | $17B | 14.3 | 10.9 | 11.5 | 68.5% | 41.3% | 31.0% | 10.5% | 3.9 |
| Energy Median | — | 15.5 | 7.8 | 13.8 | 33.7% | 13.8% | 7.2% | 6.2% | 2.6 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 17 years · Updated daily
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PSX — Frequently Asked Questions
Quick answers to the most common questions about buying PSX stock.
What is Phillips 66's P/E ratio?
Phillips 66's current P/E ratio is 15.4x. The historical average is 13.5x. This places it at the 69th percentile of its historical range.
What is Phillips 66's EV/EBITDA?
Phillips 66's current EV/EBITDA is 13.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 11.9x.
What is Phillips 66's ROE?
Phillips 66's return on equity (ROE) is 15.0%. The historical average is 13.6%.
Is PSX stock overvalued?
Based on historical data, Phillips 66 is trading at a P/E of 15.4x. This is at the 69th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Phillips 66's dividend yield?
Phillips 66's current dividend yield is 2.84% with a payout ratio of 43.7%.
What are Phillips 66's profit margins?
Phillips 66 has 4.9% gross margin and 2.7% operating margin.
How much debt does Phillips 66 have?
Phillips 66's Debt/EBITDA ratio is 3.4x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.