Phillips 66
Phillips 66 (PSX) is listed on NYSE and classified in Oil & Gas Refining & Marketing, part of the Energy sector. It is headquartered in Houston, United States and has 12,600 employees. The company is worth $114.12B and trades at 16.6x its earnings of the last twelve months; the median for its sector is 14.7x. Revenue was $132.38B in fiscal 2025, down 7.5% from the year before. Net income was $4.4B. The share price is 4.9% below its 52-week high of $299.39. It pays a dividend yielding 1.87%, and has raised its annual dividend for 12 years in a row in our records. 7 of the 38 superinvestors we track held it at the end of Q2 2026. The largest position belongs to Paul Singer (Elliott Investment Management), at $3.25B. In that quarter, 4 of them opened or added to the position and 2 reduced it. No open-market insider trades in it were filed over the last 30 days.
Written from the data on this page: SEC filings (13F, Form 4, annual reports) and market prices.
Year by year, from the annual reports; dividends from the payments themselves.
Bars are year-end balances; lines are what happened during the year.
Major managers that reported this stock in their latest 13F.
▲ +323.8% over 5Y.
today you would have $4,700.75▲ +370.1%
Dividends reinvested, splits accounted for. Past prices say what happened, not what will.
The last 14 closed years, each at that year’s closing price and reported numbers.
| Indicator | Median | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Year-end price | $129.04 | $113.93 | $133.14 | $104.08 | $72.46 | $69.94 | $111.41 | $86.15 | $101.15 | $86.41 | $81.80 | $71.70 | $77.13 | $53.10 | |
| P/E | 10.6x | 12.0x | 22.8x | 8.6x | 4.5x | 24.4x |
Seven formulas applied to the reported numbers, each with its assumption next to the result. None of them predicts a price.
Square root of 22.5 × earnings × book value. Blind to intangibles, so it undervalues software and brands.
Earnings growing 25.0% a year plus a 1.9% dividend yield. Growth capped at 25%.
Median P/E of 14.7 among peers in the sector.
Median P/E of 10.6 across this company’s own years on record.
Cash flow growing 15.0% a year for 10 years, discounted at 10%, then 2.5% forever.
This formula has no meaning here — usually a loss, negative cash flow, or a missing input.
Dividend growing 6.0% a year against a 7.5% required return, from the stock’s beta.
Companies of similar size in Energy, for comparison. The columns are the same ones above, in the same order.
| Stock | Price | P/E | P/B | Dividend yield | ROE | Market cap |
|---|---|---|---|---|---|---|
| CNQCANADIAN NATURAL RESOURCES Ltd | $53.92 | 13.3x | 3.3x | 3.26% | 26.68% | $111.16B |
| EQNREquinor ASA | $46.42 | 12.6x | 5.2x | 3.36% | 21.27% | $109.94B |
| ENBEnbridge Inc | $48.01 | 25.7x | 2.5x | 5.83% | 9.22% | $107.01B |
| VLOValero Energy Corp | $426.28 |
| — |
| 16.5x |
| 7.3x |
| 10.3x |
| 29.6x |
| 10.6x |
| 8.6x |
| 12.8x |
| 8.2x |
| P/S | 0.4x | 0.4x | 0.3x | 0.4x | 0.3x | 0.3x | 0.5x | 0.5x | 0.4x | 0.6x | 0.6x | 0.5x | 0.3x | 0.3x | 0.2x |
| P/B | 1.8x | 1.8x | 1.7x | 1.9x | 1.6x | 1.7x | 1.6x | 2.0x | 1.6x | 2.0x | 2.0x | 1.9x | 1.8x | 2.1x | 1.6x |
| EPS | $10.79 | $4.99 | $15.48 | $23.27 | $2.97 | -$9.06 | $6.77 | $11.80 | $9.85 | $2.92 | $7.73 | $8.33 | $6.02 | $6.48 |
| Dividend yield | 3.15% | 3.68% | 3.95% | 3.15% | 3.68% | 5.00% | 5.15% | 3.14% | 3.60% | 2.70% | 2.84% | 2.67% | 2.64% | 1.72% | 0.85% |
| Payout | 27.72% | 44.02% | 90.18% | 27.13% | 16.46% | 121.89% | — | 51.70% | 26.27% | 27.72% | 83.90% | 28.20% | 22.69% | 22.08% | 6.94% |
| Profit margin | 3.06% | 3.33% | 1.48% | 4.76% | 6.49% | 1.18% | -6.20% | 2.87% | 5.02% | 5.72% | 2.19% | 4.96% | 3.25% | 2.36% | 2.49% |
| ROE | 17.64% | 15.13% | 7.72% | 22.94% | 37.38% | 6.87% | -20.94% | 12.35% | 22.70% | 20.35% | 6.95% | 18.30% | 22.06% | 16.97% | 19.85% |
Median of the years shown; P/E years above 200x are left out.
The average of the method families that answered, not of the seven numbers: four of the seven start from the same earnings per share.
6 methods answered, across 3 families.
Room for errors in the reported numbers.
+14.9% from the average.
Models, not forecasts, and not investment advice. How each formula works →
| 17.8x |
| 5.4x |
| 1.13% |
| 27.64% |
| $122.74B |
| BPBP PLC | $50.05 | 24.3x | 8.9x | 4.04% | 8.87% | $128.91B |
| MPCMarathon Petroleum Corp | $459.28 | 16.2x | 6.8x | 0.87% | 42.10% | $128.98B |