Phillips 66 (PSX) stock
Energy · Oil & Gas Refining & Marketing
Phillips 66 (PSX) is an Oil & Gas Refining & Marketing company in the Energy sector, headquartered in Houston, Texas. As of October 23, 2026, PSX closed at $283.18, a market capitalization of $113.54 billion, the 109th largest company in the S&P 500. Over the last twelve months it generated $152.17 billion in revenue (+53% year over year) and $6.39 billion in free cash flow. The stock trades at 16.2x trailing earnings and 9.3x forward earnings.
- 1-year total return: +114.7% (dividends reinvested)
- 5-year return: +32.6% a year
- 52-week range: $127.16 – $299.39
- Gross margin 13.1%, operating margin 8.5%
- Dividend yield: 1.88%, 13 straight years of increases
- FI Handbook report card: C+ across 10 metrics
- 6th largest of 21 Energy stocks in the S&P 500
PSX price chart
1Y price change: +108.5% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| PSX | +10.4% | +124.0% | +114.7% | +40.4% | +32.6% | +17.7% | +19.6% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 2012.
PSX key statistics
- Market cap
- $113.5B
- #109 in S&P 500
- P/E (TTM)
- 16.2x
- Forward P/E
- 9.3x
- EPS (TTM)
- $17.50
- Revenue (TTM)
- $152.2B
- +53%
- Free cash flow
- $6.4B
- Gross margin
- 13.1%
- Operating margin
- 8.5%
- Return on equity
- 23.5%
- Dividend yield
- 1.88%
- 52-week range
- $127.16 – $299.39
- Beta
- 0.70
- Price / sales
- 0.7x
- EV / EBITDA
- 13.2x
- Debt / equity
- 0.63x
- Employees
- 12,600
PSX report card
C+Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth53.1%A
- Gross margin13.1%F
- Operating margin8.5%D
- FCF margin4.2%D
- Return on equity23.5%B
- Net debt / EBITDA1.7xC
- Forward P/E9.3xA
- PEG ratio0.9xA
- Shareholder yield2.9%C
- Share count change / yr-1.5%B
Phillips 66 financials
Revenue went from $84.3B in fiscal 2016 to $132.4B in fiscal 2025, growing 5.1% a year.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $84.3B | $102.4B | $111.5B | $107.3B | $64.1B | $111.5B | $170.0B | $147.4B | $143.2B | $132.4B |
| Gross profit | $21.8B | $22.9B | $13.5B | $11.8B | $6.4B | $9.4B | $20.1B | $19.3B | $13.2B | $16.3B |
| Net income | $1.6B | $5.1B | $5.6B | $3.1B | -$4.0B | $1.3B | $11.0B | $7.0B | $2.1B | $4.4B |
| EPS (diluted) | $2.92 | $9.85 | $11.80 | $6.77 | $-9.06 | $2.97 | $23.27 | $15.48 | $4.99 | $10.79 |
| Buybacks | $1.0B | $1.6B | $4.6B | $1.6B | $443.0M | $0 | $1.5B | $4.0B | $3.5B | $1.2B |
| Dividends paid | $1.3B | $1.4B | $1.4B | $1.6B | $1.6B | $1.6B | $1.8B | $1.9B | $1.9B | $1.9B |
| Diluted shares | 530.1M | 518.5M | 474.0M | 453.9M | 439.5M | 440.4M | 473.7M | 453.2M | 421.9M | 408.1M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into PSX?
A reverse DCF asks what growth the current price requires. With an enterprise value of $130.0B and $6.4B of trailing free cash flow, Phillips 66 needs to grow free cash flow about 11.0% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return.
P/E ratio history
Current 26.2x vs. median 10.4x (10th–90th percentile 6.2x–29.0x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
PSX dividend
- Dividend yield
- 1.88%
- Annual dividend
- $5.32
- Years of increases
- 13
- 5-yr dividend growth
- 5.7%
- per year
- Payout ratio
- 28%
- Payments per year
- 4
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
PSX analyst price targets
19 analysts' average 12-month target is $285.74 (+1% vs. $283.18). Targets range from $173.00 to $350.00. 55% rate it a buy.
PSX earnings
Next report: October 28, 2026. Phillips 66 has beaten EPS estimates 5 quarters in a row. Last quarter's revenue was $51.0B (+53% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Aug 5, 2026 | $7.50 | $9.41 | +25.4% |
| Apr 29, 2026 | $-0.39 | $0.49 | +225.7% |
| Feb 4, 2026 | $2.15 | $2.47 | +14.7% |
| Oct 29, 2025 | $2.16 | $2.52 | +16.8% |
| Jul 25, 2025 | $1.71 | $2.38 | +38.9% |
| Apr 25, 2025 | $-0.72 | $-0.90 | -25.6% |
| Jan 31, 2025 | $-0.22 | $-0.15 | +32.2% |
| Oct 29, 2024 | $1.66 | $2.04 | +22.5% |
Stocks like PSX
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
 MPC Marathon Petroleum | -0.45% | +137% | $128.4B | 15.8x | Compare |
 VLO Valero Energy | -1.64% | +147% | $120.7B | 9.5x | Compare |
 XOM ExxonMobil | +2.79% | +63% | $753.3B | 23.6x | Compare |
 CVX Chevron | +2.88% | +55% | $457.5B | 22.4x | Compare |
 COP ConocoPhillips | +3.55% | +73% | $181.2B | 20.0x | Compare |
 WMB Williams Companies | +1.51% | +25% | $87.7B | 28.6x | Compare |
 EOG EOG Resources | +3.21% | +56% | $85.5B | 12.7x | Compare |
 SLB SLB | +7.08% | +51% | $78.3B | 25.6x | Compare |
PSX news
- Valero’s Refining Margins Nearly Tripled. These 3 Dividend Stocks Could Benefit · Oct 23, 2026
- Countdown to Phillips 66 (PSX) Q3 Earnings: A Look at Estimates Beyond Revenue and EPS · Oct 23, 2026
- 3 Stocks With Yields Big Enough to Make Election Volatility Easier to Stomach · Oct 23, 2026
- Phillips 66 (PSX) Raises Quarterly Dividend To $1.33 Per Share · Oct 23, 2026
- Phillips 66 (PSX) Falls More Steeply Than Broader Market: What Investors Need to Know · Oct 22, 2026
PSX stock FAQ
What is PSX's market cap?
Phillips 66's market capitalization is $113.54 billion as of October 23, 2026, ranking 109th in the S&P 500.
What is PSX's P/E ratio?
PSX trades at a trailing price-to-earnings ratio of 16.2x and a forward P/E of 9.3x. Its median P/E over the period we track is 10.4x.
Does PSX pay a dividend?
Yes. Phillips 66 pays $5.32 per share a year, a 1.88% yield. It has raised its dividend 13 years in a row. Dividends grew 5.7% a year over the last five years.
How much has PSX stock returned?
Including reinvested dividends, PSX returned +114.7% over one year, +32.6% a year over five years, +17.7% a year over ten years through October 23, 2026.
Is PSX stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies Phillips 66 must grow free cash flow about 11% a year for the next decade. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
What is the PSX price target?
19 analysts cover PSX with an average 12-month price target of $285.74, +1% from the current price. 55% of them rate it a buy.
When does PSX report earnings?
Phillips 66 is expected to report earnings on October 28, 2026. It has beaten EPS estimates 5 quarters in a row.
How many employees does Phillips 66 have?
Phillips 66 has about 12,600 full-time employees, or $12.1 million of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology