Phillips 66 (PSX) Stock

Phillips 66 (PSX) is a Energy stock trading at $206.85 (as of 2026-07-17), with a market capitalization of $82.93B and a trailing P/E of 20.1. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Phillips 66 is an energy manufacturing and logistics company organized into Midstream, Chemicals, Refining, and Marketing and Specialties segments. It transports and processes crude, refined products, natural gas liquids, and natural gas; produces chemicals such as ethylene, aromatics, styrenics, and specialty chemical products; refines feedstocks into fuels and petroleum products; and markets refined products to customers.

Understand Phillips 66: how it makes money

Phillips 66 operates refineries, chemical production, and energy logistics and marketing services, making money by moving and processing feedstocks and refined products (including terminaling, storage, and natural gas liquids services) and by producing and selling refined petroleum and chemical products.

Its earnings are driven by a mix of logistics and processing (especially Midstream, which includes transport and terminaling and other fee-based services) and commodity-linked product performance (Refining and Chemicals, which depend on market conditions for refined products and chemical outputs).

Revenue by segment (latest quarter)
Midstream$0.7B
Chemicals$0.1B
Refining$0.2B
M&S$0.3B
Other$31.3B

Business quality (Weak): Segment figures provided are segment earnings (pre-tax), not segment revenue, so the segment values cannot be verified as summing to the stated total revenue of 32.5B.

Valuation: At 17× earnings, PSX trades in line with the Petroleum & Natural Gas average (17×). Note: one-time items can distort reported P/E.

Bull case

  • Portfolio across four operational areas: Phillips 66 operates through Midstream, Chemicals, Refining, and Marketing and Specialties, so it is not tied to a single business line.
  • Midstream shows up as the largest segment earnings contributor (in the provided data): Among the supplied segment earnings figures, Midstream is higher than the other listed segments.
  • Built-in logistics and processing services: The Midstream description includes transport, terminaling and storage, natural gas liquids services, and fee-based processing, which can support results compared with pure product sales.

Bear case

  • Commodity and market condition sensitivity: Refining and Chemicals profitability depends on market conditions for refined products and chemical production, so earnings can face cyclicality and margin pressure.
  • Performance dispersion across segments: In the provided segment earnings figures, some segments are much smaller than Midstream, so weakness in the smaller segments can still matter for overall results.
  • Execution and operating risks: Because operations include refineries and chemical production plus logistics services, operational disruptions or lower utilization can negatively affect segment performance.
Valuation — source: SEC EDGAR (first-party)
Price$206.85
Market Cap$82.93B
P/E Ratio20.1
Price / Book2.79
Price / Sales0.62
DCF Value (model)$301.74
DCF Upside vs Price45.9%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$132.38B
Net Margin3.3%
Revenue Growth (YoY)6.9%
EPS Growth (YoY)-57.1%
Financial Health — source: SEC EDGAR
Piotroski F-Score8/9 (strong)
Valuation vs Sector & Industry
Stock P/E20.1
Sector P/E (Energy)19.4
Industry P/E (Petroleum & Natural Gas)19.2
vs Sector3.9%
vs Industry4.6%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderVANGUARD GROUP INC ($6.70B)
Institutional Holders Tracked10
Congressional Trades (recent)10
Company
SectorEnergy
IndustryPetroleum & Natural Gas
CEOMark E. Lashier
Employees13,200
CountryUS
IPO Date2012-04-12

Related Companies (Business model: Refining & Midstream Energy; 8 closest by market cap; US-domiciled)

  • Exxon Mobil Corporation (XOM)
  • Chevron Corporation (CVX)
  • Valero Energy Corporation (VLO)
  • Marathon Petroleum Corporation (MPC)
  • Enterprise Products Partners L.P. (EPD)
  • Delek US Holdings, Inc. (DK)
  • Calumet, Inc. (CLMT)
  • CVR Energy, Inc. (CVI)
PSX earnings history · PSX institutional & insider holders · PSX KPIs & operating metrics · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-07-17.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.